9415 Tobine St · Romulus, MI 48174

$110,000

2 bd · 1.0 ba · 1,216 sqft · SingleFamily public records · 3 Days on market

Built 1963 1.14 ac lot

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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 +21.7/30.0
• ARV discount +7.5/15.0
• DSCR +6.9/10.0
• 1% rule +5.7/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity awaits! This 2-bed, 1-bath home is in need of some updates and repairs. It is on a beautiful 1.1-acre lot with a creek running alongside the property. Perfect for an investor, whether it be for resale or rental income. Home is being sold as-is. The buyer to assume and complete all city-required repairs for C of O.

Key facts

• 1.1-acre lot
• 1.14 acre lot
• Garage

Tags

• 1.1-ACRE LOT
• CREEK RUNNING ALONGSIDE

Property features AI

Finance

• Other: Residential property; Above-grade finished area reported; Below-grade finished area reported
• HOA & community: Homeowners association present

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water service; Public sewer service
• Home design: Single-family residence; One story
• Construction: Brick exterior
• Exterior features: Public water; Public sewer; Lot approximately 1.14 acres; Cross street: Ronald / Tobine

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Oven; Range; Refrigerator
• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Fireplace in the living room (wood-burning); Basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $169 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Cap rate 8.1% vs local median 3.8% in Romulus — 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 60/100 on livability (#593 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: commute D+, crime F, amenities F.
• Romulus Community Schools (suburban): math 9% / reading 21% proficiency, ranked #498 of 540 in MI (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Romulus Middle School (math 8% / reading 15%, grade F, #469 of 493 statewide, top 95%, 461 students, 77% FRL).
• Market conditions: 218 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $761 of loan paydown is wiped out by about $3k 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,000

Questions for the listing agent

1. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.07% ✓
• Cap rate: 8.14%
• Cash-on-cash: 6.60%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $222,528
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
9643 Washington St	0.45mi	3/1.5 (+1)	1,200 (-1%)	13mo	$219,000	$183	59
9286 Chamberlain St	0.53mi	3/1.0 (+1)	1,080 (-11%)	3mo	$200,000	$185	50
9244 Chamberlain St	0.54mi	2/2.0	1,152 (-5%)	16mo	$152,000	$132	49
34956 Michele Dr	0.56mi	3/1.0 (+1)	1,080 (-11%)	2mo	$175,000	$162	49
9648 Washington St	0.43mi	3/1.0 (+1)	1,080 (-11%)	17mo	$187,500	$174	42
9346 Chamberlain St	0.52mi	3/2.0 (+1)	1,080 (-11%)	20mo	$165,000	$153	32
9354 Lisa St	0.74mi	3/1.0 (+1)	1,080 (-11%)	21mo	$200,000	$185	24
34754 Stewart Dr	0.66mi	3/1.0 (+1)	1,050 (-14%)	21mo	$200,000	$190	24

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -6.1%
• Equity multiple: 0.77×
• Total profit: $-7,022
• Equity at exit: $16,401

10-year hold

• IRR: 3.5%
• Equity multiple: 1.25×
• Total profit: $7,851
• Equity at exit: $9,511

Cash invested: $30,800 (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 48174

• Active inventory: 218
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,182 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$142 /mo · $1,700/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $169

Break-even live

Break-even rent $968

Max offer price $110,000

Occupancy floor 81%

Sensitivity live

Price	-10% $232	-5% $200	+0% $169	+5% $138	+10% $107
Rent	-10% $76	-5% $123	+0% $169	+5% $216	+10% $263
Rate	-1.0pp $225	-0.5pp $197	base $169	+0.5pp $141	+1.0pp $112

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9960 Wayne Rd Romulus, MI	1.0–2.0	1.0–1.5	800	$1,316	$1.65	0d	9	0.29mi
35301 Michelle Dr Unit 213 Romulus, MI	2.0	1.0	850	$900	$1.06	45d	1	0.41mi
7080 Niagara St Unit CC168 Romulus, MI	2.0	1.0	900	$1,250	$1.39	6d	1	0.93mi

Listing history 4 events

1. 2026-06-04
   days on market $110,000 Active 3 DOM
2. 2026-06-03
   days on market $110,000 Active 2 DOM
3. 2026-06-02
   remarks 328-char remark
4. 2026-06-02
   listed $110,000 Active 1 DOM

ⓘ 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: $1,700 · $142/mo
• Projected year-2 tax: $1,700 · $142/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 56% 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: $14,182
• − Mortgage interest: −$6,162
• − Property taxes: −$1,700
• − Insurance: −$550
• − Repairs & maintenance: −$1,135
• − Management: −$1,135
• − Depreciation: −$3,200
• Taxable income: $301
• Est. tax owed @ 24.0%: −$72
• After-tax cash flow: $1,959/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: Romulus Community Schools
• NCES district ID: 2630120
• Math proficiency: 9% ▼ -14.00%
• Reading proficiency: 21% ▼ -9.00%
• Median HH income: $44,165
• Composite: 13.17/100
• National rank: #9556
• State rank: #498 of 540 in MI

Livability — Romulus

• Score: 60/100
• State rank: #593
• US rank: #19387

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Romulus, MI
• County: Wayne County · 1,562,939 people
• City population: 32,211
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 32,211
• Household income: $67,056
• Rent vs Own: 25.8% rent · 74.2% own
• Severe rent burden: 755.0

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: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 52% Black 37% Two or more races 8% Hispanic / Latino 2% Asian 1%
• Common ancestry: Romanian 6% Lithuanian 3% Italian 2%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Other Asian/Pacific 1%

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: ▼ -171.93%
• Current HPI: 207.8345
• 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

• 2026-06-01 Listed $110,000 REALCOMP
• 2026-06-01 Listed $110,000 MiRealSource-MiMLS

Property tax history

+1.2%/yr

Latest (2025): $1,700 · -20.8% YoY. Source: county tax records.