23328 Hayes St · Taylor, MI 48180

$190,000

4 bd · 1.5 ba · 1,735 sqft · SingleFamily public records · 67 Days on market

Built 1958 6,098 sqft lot $110/sqft · 5% below area Est $200k · 5% under

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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 +25.2/30.0
• ARV discount +9.8/15.0
• DSCR +8.3/10.0
• 1% rule +6.5/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to own this spacious 4-bedroom, 2 full bath colonial offering a great layout, generous living space, & plenty of potential. Hardwood floors in the living room, then flow into the large kitchen w/ ample room for cooking, gathering, & everyday living--plus, all appliances stay! Just off the kitchen, family room w/ a natural fireplace creates the perfect second living space, home office, or reading retreat. Upstairs, you’ll find four comfortable bedrooms & a primary bath with his and hers sinks. A full basement provides excellent storage or future finishing possibilities. Detached garage with workshop space adds extra functionality. Outside, the fenced yard, patio, and porch create a nice setting for relaxing or entertaining. Home offers central air and 2 gas-forced furnaces for added comfort and efficiency. Seller is currently working on home improvements or cash out on this great opportunity. Disclaimer: photos may not reflect current condition of the property.

Key facts

• Natural fireplace
• Fenced yard
• Central air

Tags

• HARDWOOD FLOORS
• NATURAL FIREPLACE
• FENCED YARD
• DETACHED GARAGE
• CENTRAL AIR

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $427 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $190k).
• Recommended offer: $179k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.0% vs local median 5.3% in Taylor — 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 76/100 on livability (#144 in MI, #3,684 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, schools F, crime F.
• Taylor School District (urban): math 14% / reading 27% proficiency, ranked #462 of 540 in MI (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.9%/yr); 290 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 43% of the median local income ($61k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $53k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($179k) is reasonable based on typical stale-listing flexibility.
• 19 sale attempts since 19y ago 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.
• Current owner paid $106k; list at $190k implies a 79% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $178,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.15% ✓
• Cap rate: 8.99%
• Cash-on-cash: 9.63%
• DSCR: 1.43
• GRM: 7.3

CMA / ARV

• ARV (median comp): $200,353
• List price: $190,000
• Delta: -5.17%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
23353 Wohlfeil St	0.40mi	3/2.0 (-1)	1,700 (-2%)	2mo	$182,000	$107	69
8236 Margaret St	0.38mi	3/1.5 (-1)	1,799 (+4%)	2mo	$219,900	$122	69
6753 Madison St	0.46mi	3/1.0 (-1)	1,649 (-5%)	2mo	$145,000	$88	61
7555 Trafalgar St	0.22mi	3/1.5 (-1)	1,972 (+14%)	1mo	$165,000	$84	61
8210 Westpoint St	0.48mi	5/1.0 (+1)	1,592 (-8%)	2mo	$244,000	$153	55
6625 Birch St	0.55mi	3/1.0 (-1)	1,599 (-8%)	1mo	$190,000	$119	54
6688 Madison St	0.53mi	3/1.0 (-1)	1,550 (-11%)	1mo	$205,000	$132	49
7961 Lincoln St	0.42mi	3/2.0 (-1)	1,986 (+14%)	0mo	$220,000	$111	49
23545 Wohlfeil St	0.43mi	3/1.5 (-1)	1,508 (-13%)	5mo	$197,000	$131	48
24345 Myler St	0.67mi	3/2.0 (-1)	1,852 (+7%)	4mo	$175,000	$94	48
8131 Banner St	0.62mi	3/1.5 (-1)	1,920 (+11%)	2mo	$217,000	$113	47
8316 Roosevelt St	0.60mi	3/1.0 (-1)	1,988 (+15%)	1mo	$240,000	$121	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.9% rent growth · sell at horizon

5-year hold

• IRR: 0.3%
• Equity multiple: 1.01×
• Total profit: $674
• Equity at exit: $28,330

10-year hold

• IRR: 11.8%
• Equity multiple: 2.01×
• Total profit: $53,831
• Equity at exit: $16,428

Cash invested: $53,200 (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 48180

• Rents YoY: 4.9%
• Active inventory: 290
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $2,183 medium
• Mortgage (P&I): −$996
• Tax from tax record: −$222 /mo · $2,668/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$458
• Net cashflow: $427

Break-even live

Break-even rent $1,643

Max offer price $190,000

Occupancy floor 75%

Sensitivity live

Price	-10% $534	-5% $481	+0% $427	+5% $373	+10% $319
Rent	-10% $254	-5% $341	+0% $427	+5% $513	+10% $599
Rate	-1.0pp $523	-0.5pp $475	base $427	+0.5pp $378	+1.0pp $328

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: $47,500
• Closing costs: $5,700
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9651 Blaty St Taylor, MI	3.0	2.0	1695	$2,500	$1.47	17d	1	1.05mi
5503 Cranbrook St Dearborn Heights, MI	3.0	2.5	2143	$1,750	$0.82	18d	1	1.38mi

Listing history 50 events

1. 2026-06-21
   days on market $190,000 Active 67 DOM
2. 2026-06-18
   days on market $190,000 Active 64 DOM
3. 2026-06-17
   days on market $190,000 Active 63 DOM
4. 2026-06-16
   days on market $190,000 Active 62 DOM
5. 2026-06-15
   days on market $190,000 Active 61 DOM
6. 2026-06-13
   days on market $190,000 Active 59 DOM
7. 2026-06-13
   days on market $190,000 Active 58 DOM
8. 2026-06-09
   days on market $190,000 Active 55 DOM
9. 2026-06-08
   days on market $190,000 Active 54 DOM
10. 2026-06-07
    days on market $190,000 Active 53 DOM
11. 2026-06-04
    days on market $190,000 Active 50 DOM
12. 2026-06-03
    days on market $190,000 Active 49 DOM
13. 2026-06-02
    days on market $190,000 Active 48 DOM
14. 2026-06-01
    days on market $190,000 Active 47 DOM
15. 2026-05-31
    days on market $190,000 Active 46 DOM
16. 2026-04-15
    listed $190,000 Active 1014-char remark

    Show marketing remark (1008 chars)

    Great opportunity to own this spacious 4-bedroom, 2 full bath colonial offering a great layout, generous living space, & plenty of potential. Hardwood floors in the living room, then flow into the large kitchen w/ ample room for cooking, gathering, & everyday living--plus, all appliances stay! Just off the kitchen, family room w/ a natural fireplace creates the perfect second living space, home office, or reading retreat. Upstairs, you'll find four comfortable bedrooms & a primary bath with his and hers sinks. A full basement provides excellent storage or future finishing possibilities. Detached garage with workshop space adds extra functionality. Outside, the fenced yard, patio, and porch create a nice setting for relaxing or entertaining. Home offers central air and 2 gas-forced furnaces for added comfort and efficiency. Seller is currently working on home improvements or cash out on this great opportunity. Disclaimer: photos may not reflect current condition of the property.

17. 2026-04-15
    listed $190,000 Active 1008-char remark

    Show marketing remark (1008 chars)

    Great opportunity to own this spacious 4-bedroom, 2 full bath colonial offering a great layout, generous living space, & plenty of potential. Hardwood floors in the living room, then flow into the large kitchen w/ ample room for cooking, gathering, & everyday living--plus, all appliances stay! Just off the kitchen, family room w/ a natural fireplace creates the perfect second living space, home office, or reading retreat. Upstairs, you'll find four comfortable bedrooms & a primary bath with his and hers sinks. A full basement provides excellent storage or future finishing possibilities. Detached garage with workshop space adds extra functionality. Outside, the fenced yard, patio, and porch create a nice setting for relaxing or entertaining. Home offers central air and 2 gas-forced furnaces for added comfort and efficiency. Seller is currently working on home improvements or cash out on this great opportunity. Disclaimer: photos may not reflect current condition of the property.

18. 2016-06-22
    soldstatus $106,000
19. 2016-06-16
    historical
20. 2016-06-15
    soldstatus $106,000 Sold
21. 2016-04-20
    status Pending
22. 2016-04-20
    status Pending
23. 2016-04-13
    status Active
24. 2016-04-12
    status Active
25. 2016-04-10
    status Pending
26. 2016-04-08
    status Pending
27. 2016-04-07
    listed $109,900 Active
28. 2016-04-04
    listed $109,900 Active
29. 2015-12-02
    historical
30. 2015-12-01
    historical
31. 2015-12-01
    historical
32. 2015-11-13
    price $104,900
33. 2015-11-02
    price $111,900
34. 2015-11-02
    price $104,900
35. 2015-10-16
    price $109,900
36. 2015-10-08
    listed $114,900 Active
37. 2015-10-08
    listed $104,900
38. 2015-10-07
    historical
39. 2015-10-06
    price $114,900
40. 2015-09-27
    status Active
41. 2015-07-13
    historical
42. 2015-07-01
    historical
43. 2015-07-01
    listed $119,900 Active
44. 2015-06-19
    price $119,900
45. 2015-06-01
    listed $124,900 Active
46. 2015-06-01
    listed $114,900
47. 2010-03-15
    soldstatus $90,000
48. 2010-02-26
    soldstatus $90,000
49. 2010-02-26
    soldstatus $90,000
50. 2010-01-25
    historical

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

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $2,668 · $222/mo
• Projected year-2 tax: $2,797 · $233/mo
• Expected delta: +$129/yr (+$11/mo · 4.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,198
• − Mortgage interest: −$10,643
• − Property taxes: −$2,668
• − Insurance: −$950
• − Repairs & maintenance: −$2,096
• − Management: −$2,096
• − Depreciation: −$5,527
• Taxable income: $2,218
• Est. tax owed @ 24.0%: −$532
• After-tax cash flow: $4,590/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.

Schools (NCES district)

• District: Taylor School District
• NCES district ID: 2633540
• Math proficiency: 14% ▼ -7.00%
• Reading proficiency: 27% ▼ -4.00%
• Median HH income: $43,062
• Composite: 17.62/100
• National rank: #9034
• State rank: #462 of 540 in MI

Livability — Taylor

• Score: 76/100
• State rank: #144
• US rank: #3684

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Taylor, MI
• County: Wayne County · 1,562,939 people
• City population: 62,081
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 62,081
• Household income: $61,081
• Rent vs Own: 33.3% rent · 66.7% own
• Severe rent burden: 1957.0

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: Majority White (65%)
• Race & ethnicity: White 65% Black 19% Two or more races 9% Hispanic / Latino 9% Asian 2%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Romanian 8% Lithuanian 3% Slovak 2%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 4% Arabic 3% Other Indo-European 3%

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: ▼ -212.33%
• Current HPI: 228.921
• Rent YoY: ▲ 4.90%
• 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

+26.8% since first listed

46 events — show timeline

• 2026-04-15 Listed $190,000 REALCOMP
• 2026-04-15 Listed $190,000 MiRealSource-MiMLS
• 2016-06-22 Sold (Public Records) $106,000 Public Records
• 2016-06-16 Listing Removed — MiRealSource-MiMLS
• 2016-06-15 Sold (MLS) $106,000 REALCOMP
• 2016-04-20 Pending — MiRealSource-MiMLS
• 2016-04-20 Pending — REALCOMP
• 2016-04-13 Relisted — MiRealSource-MiMLS
• 2016-04-12 Relisted — REALCOMP
• 2016-04-10 Pending — MiRealSource-MiMLS
• 2016-04-08 Pending — REALCOMP
• 2016-04-07 Listed $109,900 MiRealSource-MiMLS
• 2016-04-04 Listed $109,900 REALCOMP
• 2015-12-02 Listing Removed — REALCOMP
• 2015-12-01 Listing Removed — MiRealSource-MiMLS
• 2015-12-01 Listing Removed — MiRealSource-MiMLS
• 2015-11-13 Price Changed $104,900 REALCOMP
• 2015-11-02 Price Changed $104,900 REALCOMP
• 2015-11-02 Price Changed $111,900 REALCOMP
• 2015-10-16 Price Changed $109,900 REALCOMP
• 2015-10-08 Listed $114,900 REALCOMP
• 2015-10-08 Listed $104,900 MiRealSource-MiMLS
• 2015-10-07 Listing Removed — REALCOMP
• 2015-10-06 Price Changed $114,900 REALCOMP
• 2015-09-27 Relisted — REALCOMP
• 2015-07-13 Listing Removed — REALCOMP
• 2015-07-01 Listing Removed — REALCOMP
• 2015-07-01 Listed $119,900 REALCOMP
• 2015-06-19 Price Changed $119,900 REALCOMP
• 2015-06-01 Listed $124,900 REALCOMP
• 2015-06-01 Listed $114,900 MiRealSource-MiMLS
• 2010-03-15 Sold (Public Records) $90,000 Public Records
• 2010-02-26 Sold (MLS) $90,000 REALCOMP
• 2010-02-26 Sold (MLS) $90,000 MiRealSource-MiMLS
• 2010-01-25 Listing Removed — MiRealSource-MiMLS
• 2009-11-30 Listed $99,500 REALCOMP
• 2009-11-30 Listed $99,500 MiRealSource-MiMLS
• 2009-11-06 Listing Removed — MiRealSource-MiMLS
• 2009-11-06 Listing Removed — REALCOMP
• 2008-08-08 Listed $115,000 MiRealSource-MiMLS
• 2008-08-08 Listed $115,000 REALCOMP
• 2008-06-01 Listing Removed — MiRealSource-MiMLS
• 2008-01-07 Listing Removed — REALCOMP
• 2007-09-29 Listed $149,900 REALCOMP
• 2007-09-27 Listed $149,900 REALCOMP
• 2007-09-27 Listed $149,900 MiRealSource-MiMLS

Property tax history

+2.4%/yr

Latest (2025): $2,668 · -23.8% YoY. Source: county tax records.