38226 Ann Arbor Trl · Livonia, MI 48150

$135,000

2 bd · 2.0 ba · 1,100 sqft · Condo · 44 Days on market

Built 1970 Average condition $313/mo HOA · 17% of rent

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +20.4/30.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• DSCR +6.5/10.0
• Schools +4.6/10.0
• Livability +3.9/5.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to carefree condo living at 38226 Ann Arbor Trail, Unit #226 in Livonia - ideally located near the scenic beauty of Hines Park. This upper-level, single-floor unit offers a peaceful retreat while still providing convenient access to shopping, dining, and major freeways. Step inside to a bright and open living space featuring a spacious living room, a dedicated dining area, and a well-appointed kitchen - perfect for both everyday living and entertaining. The unit includes two generously sized bedrooms and two full bathrooms, along with the convenience of in-unit laundry. The primary suite serves as a true retreat, offering ample closet space and a private ensuite bathroom. Large closets throughout provide excellent storage. All appliances are included, making this home truly move-in ready. The HOA covers water, heat, grounds maintenance, and snow removal - allowing for low-maintenance, stress-free living year-round. With its functional layout, generous space, and prime location, this condo checks all the boxes. All measurements approximate buyer and buyer agent to verify all information including taxes and HOA fees.

Key facts

• $313 HOA
• Built 1970
• Listed 44 days

Property features AI

Finance

• Other: Located in WAYNE COUNTY CONDO SUB PLAN 33; Directions: South of Ann Arbor Rd, West of Newburgh Rd
• HOA & community: Homeowners association with monthly fee of $313; HOA covers grounds and structure maintenance, snow removal, and water

Exterior

• Parking: No garage; Carport; Assigned parking
• Utilities: Public water; Public sewer
• Home design: Condominium residence; One level with ground-level entry
• Construction: Block and brick construction; Slab foundation; Built above grade: approximately 1,100 square feet
• Exterior features: Paved road access; Pets allowed

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Five total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $135k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $175 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $131k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 4.9% in Livonia — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 77/100 on livability (#116 in MI, #2,784 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities D, health & safety D, commute F.
• Livonia Public Schools School District (urban): math 46% / reading 59% proficiency, ranked #77 of 540 in MI (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 97 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($131k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $130,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.33% ✓
• Cap rate: 7.85%
• Cash-on-cash: 5.56%
• DSCR: 1.25
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -7.5%
• Equity multiple: 0.72×
• Total profit: $-10,495
• Equity at exit: $20,129

10-year hold

• IRR: 2.3%
• Equity multiple: 1.16×
• Total profit: $6,125
• Equity at exit: $11,672

Cash invested: $37,800 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Michigan: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit; mixed climate; Detroit/AA have some protections.

Methodology + full state rankings →

ZIP-level market 48150

• Active inventory: 97
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,799 high
• Mortgage (P&I): −$708
• Tax est. 1.5%: −$169 /mo · $2,025/yr
• Insurance: −$56
• HOA: −$313
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $175

Break-even live

Break-even rent $1,577

Max offer price $135,000

Occupancy floor 85%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
37828 Arbor Woods Dr Livonia, MI	2.0	1.0	1100	$1,485	$1.35	5d	2	0.25mi
11618 Plymouth Woods Dr Livonia, MI	2.0	1.0	1075	$1,632	$1.52	5d	4	0.53mi
36665 Angeline Cir Livonia, MI	3.0	1.5	1007	$2,095	$2.08	24d	1	0.65mi
9215 Tavistock Dr Plymouth, MI	3.0	1.5	1016	$3,500	$3.44	2d	1	0.78mi
37830 Westwood Cir Westland, MI	2.0	1.0	925	$1,412	$1.53	2d	10	0.82mi
8660 Walton Blvd Canton, MI	1.0–3.0	1.0–1.5	980	$1,625	$1.66	2d	25	1.04mi
37670 Dale Dr Westland, MI	1.0–2.0	1.0–1.5	760	$1,460	$1.92	2d	10	1.09mi
40325 Plymouth Rd Unit 103 Plymouth, MI	2.0	1.0	1000	$1,699	$1.70	44d	1	1.16mi
40285 Plymouth Rd Plymouth, MI	1.0	1.0	850	$1,499	$1.76	5d	1	1.20mi
40345 Plymouth Rd Plymouth, MI	1.0	1.0	850	$1,399	$1.65	44d	1	1.21mi
40325 Plymouth Rd Plymouth, MI	1.0–2.0	1.0	925	$1,699	$1.84	20d	6	1.29mi
37410 Fountain Park Cir Westland, MI	1.0–2.0	1.0–2.0	932	$1,755	$1.88	2d	17	1.34mi
40826 Gilbert St Plymouth, MI	3.0	1.0	1192	$3,150	$2.64	13d	1	1.36mi
8375 Honeytree Blvd Canton, MI	1.0–4.0	1.0–2.5	1135	$1,329	$1.17	2d	1	1.40mi
12350 Risman Dr Plymouth, MI	1.0–2.0	1.0	829	$1,425	$1.72	17d	1	1.40mi
8500 Brooke Park Dr Canton, MI	1.0–2.0	1.0–1.5	800	$1,430	$1.79	2d	6	1.41mi

HOA detail condo

• Monthly dues: $313 · $3,756/yr
• Likely covers: waterlandscapingsnow removal
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-18
   days on market $135,000 Active 44 DOM
2. 2026-06-17
   days on market $135,000 Active 43 DOM
3. 2026-06-16
   days on market $135,000 Active 42 DOM
4. 2026-06-15
   days on market $135,000 Active 41 DOM
5. 2026-06-13
   days on market $135,000 Active 39 DOM
6. 2026-06-09
   days on market $135,000 Active 35 DOM
7. 2026-06-08
   days on market $135,000 Active 34 DOM
8. 2026-06-07
   pricedays on market $135,000 Active 33 DOM
9. 2026-06-04
   days on market $140,000 Active 30 DOM
10. 2026-06-03
    days on market $140,000 Active 29 DOM
11. 2026-06-02
    days on market $140,000 Active 28 DOM
12. 2026-06-01
    days on market $140,000 Active 27 DOM
13. 2026-05-31
    days on market $140,000 Active 26 DOM
14. 2026-05-05
    listed $140,000 Active

    Show marketing remark (1140 chars)

    Welcome to carefree condo living at 38226 Ann Arbor Trail, Unit #226 in Livonia - ideally located near the scenic beauty of Hines Park. This upper-level, single-floor unit offers a peaceful retreat while still providing convenient access to shopping, dining, and major freeways. Step inside to a bright and open living space featuring a spacious living room, a dedicated dining area, and a well-appointed kitchen - perfect for both everyday living and entertaining. The unit includes two generously sized bedrooms and two full bathrooms, along with the convenience of in-unit laundry. The primary suite serves as a true retreat, offering ample closet space and a private ensuite bathroom. Large closets throughout provide excellent storage. All appliances are included, making this home truly move-in ready. The HOA covers water, heat, grounds maintenance, and snow removal - allowing for low-maintenance, stress-free living year-round. With its functional layout, generous space, and prime location, this condo checks all the boxes. All measurements approximate buyer and buyer agent to verify all information including taxes and HOA fees.

15. 2026-05-05
    listed $140,000 Active 1140-char remark

    Show marketing remark (1140 chars)

    Welcome to carefree condo living at 38226 Ann Arbor Trail, Unit #226 in Livonia - ideally located near the scenic beauty of Hines Park. This upper-level, single-floor unit offers a peaceful retreat while still providing convenient access to shopping, dining, and major freeways. Step inside to a bright and open living space featuring a spacious living room, a dedicated dining area, and a well-appointed kitchen - perfect for both everyday living and entertaining. The unit includes two generously sized bedrooms and two full bathrooms, along with the convenience of in-unit laundry. The primary suite serves as a true retreat, offering ample closet space and a private ensuite bathroom. Large closets throughout provide excellent storage. All appliances are included, making this home truly move-in ready. The HOA covers water, heat, grounds maintenance, and snow removal - allowing for low-maintenance, stress-free living year-round. With its functional layout, generous space, and prime location, this condo checks all the boxes. All measurements approximate buyer and buyer agent to verify all information including taxes and HOA fees.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $21,588
• − Mortgage interest: −$7,562
• − Property taxes: −$2,025
• − Insurance: −$675
• − Repairs & maintenance: −$1,727
• − Management: −$1,727
• − HOA: −$3,756
• − Depreciation: −$3,927
• Taxable income: $188
• Est. tax owed @ 24.0%: −$45
• After-tax cash flow: $2,058/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 10 photos

Average 55/100 Cosmetic rehab

This townhouse requires cosmetic updates to its kitchen and bathrooms, as well as some maintenance on the exterior and interior walls. With a few updates, it can become a move-in-ready property with increased resale and rental value.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of updating
• Moderate bathroom fixtures — dated and in need of updating
• Minor exterior paint — some discoloration

Value-add opportunities

• Both paint interior walls — enhances appearance and value
• Both replace carpeting — improves comfort and value
• Both update kitchen cabinets — modernizes space and increases value
• Both update bathroom fixtures — modernizes space and increases value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of updating	Moderate	$3,000–15,000
bathroom fixtures · dated and in need of updating	Moderate	$3,000–15,000
exterior paint · some discoloration	Minor	$500–3,000
Total estimated repair cost · 3 items		$6,500–33,000

Value-add ROI direction

• Both paint interior walls — enhances appearance and value ↑
• Both replace carpeting — improves comfort and value ↑
• Both update kitchen cabinets — modernizes space and increases value ↑
• Both update bathroom fixtures — modernizes space and increases value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Livonia Public Schools School District
• NCES district ID: 2621840
• Math proficiency: 46% ▼ -5.00%
• Reading proficiency: 59% ▬ 0.00%
• Median HH income: $65,268
• Composite: 46.27/100
• National rank: #2480
• State rank: #77 of 540 in MI

Livability — Livonia

• Score: 77/100
• State rank: #116
• US rank: #2784

Category grades

Amenities D Commute F Cost of living A+ Crime B Employment A+ Housing A+ Health & safety D User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Livonia, MI
• County: Wayne County · 1,562,939 people
• City population: 56,806
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 26,687
• Household income: $97,997
• Rent vs Own: 10.8% rent · 89.2% own
• Severe rent burden: 110.0

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 1,675,273 people
• By 2030: 1,620,300 · -3.3%
• By 2040: 1,502,341 · -10.3%
• By 2050: 1,384,039 · -17.4%
• By 2075: 1,124,592 · -32.9%
• By 2100: 881,193 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 7% Hispanic / Latino 5% Black 3% Asian 2%
• Common ancestry: Romanian 13% Italian 5% Lithuanian 4%
• Foreign-born: 7% · Canada, South Korea, China
• Languages at home: 90% English-only · Other Indo-European 2% Spanish 2% Arabic 2%

Political lean MEDSL · Wayne

• 2024 margin: Strong D (+29.0) · D 62.7% · R 33.7% · Other 3.6%
• 2008→2024 swing: -20.5pp toward R · 2008: 49.5pp · 2024: 29.0pp
• All cycles: 2024: D+29.0 2020: D+38.1 2016: D+37.3 2012: D+46.9 2008: D+49.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -341.08%
• Current HPI: 197.495
• Rent YoY: —
• Metro: Detroit-Warren-Dearborn, MI
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

Industry mix (Fortune 500 HQ in MI)

Industry	F500 HQs	Revenue
▸Automotive Parts	3	$48B
▸Automotive	2	$372B
▸Chemicals	1	$45B
▸Automotive Retail	1	$29B
▸Healthcare / Medical Devices	1	$23B
▸Automotive Technology	1	$20B

Price history

+0.0% since first listed

2 events — show timeline

• 2026-05-05 Listed $140,000 MiRealSource-MiMLS
• 2026-05-05 Listed $140,000 REALCOMP