11238 Moore St · Romulus, MI 48174

$150,000

3 bd · 1.0 ba · 927 sqft · SingleFamily public records · 307 Days on market

Built 1931 3,920 sqft lot $162/sqft · 7% below area Est $162k · 7% under

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Why this score? — see what drove the D 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 +13.6/30.0
• ARV discount +10.8/15.0
• DSCR +4.1/10.0
• 1% rule +3.8/10.0
• 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

This home has been approved for Short-Sale. Cute 3 Bedroom Ranch in the heart of Romulus, just waiting for the right person to show it the love it deserves. Spacious yard with 2 car garage. Great starter home.

Key facts

• Spacious yard
• 3,920 sq ft lot
• 2 garage spots

Tags

• SPACIOUS YARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $10 ($115/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $132k (12.0% below list).
• Recommended offer: $132k (12.0% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 4.2% 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+, schools F, crime 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.
• Market conditions: 215 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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 $1k 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 307 days — a 12% lower offer ($132k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 27y ago; this cycle's ask has dropped $30k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1931 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,945 (12.0% below list)

Questions for the listing agent

1. It's been on market 307 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1931 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.88% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.27%
• DSCR: 1.01
• GRM: 9.5

CMA / ARV

• ARV (median comp): $161,722
• List price: $150,000
• Delta: -7.25%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11340 Delano St	0.12mi	3/1.0	936 (+1%)	11mo	$145,000	$155	84
11244 Olive St	0.30mi	3/2.0	925 (-0%)	20mo	$149,900	$162	65
11061 Elmview St	0.58mi	3/1.0	960 (+4%)	8mo	$155,000	$161	60
12120 Elmview St	0.67mi	2/1.0 (-1)	909 (-2%)	5mo	$167,000	$184	56
11069 Delano St	0.18mi	3/1.0	1,020 (+10%)	23mo	$191,000	$187	56
11036 Wahrman St	0.23mi	2/1.0 (-1)	838 (-10%)	15mo	$160,000	$191	56
11114 Whitehorn St	0.28mi	2/1.0 (-1)	836 (-10%)	14mo	$31,000	$37	54
10310 Sterling St	0.54mi	2/1.0 (-1)	923 (-0%)	21mo	$152,000	$165	52
36885 Porter St	0.43mi	3/1.0	1,008 (+9%)	22mo	$157,000	$156	47
36860 Chase St	0.48mi	3/1.0	1,040 (+12%)	22mo	$159,000	$153	39

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: -15.9%
• Equity multiple: 0.44×
• Total profit: $-23,677
• Equity at exit: $22,365

10-year hold

• IRR: -7.4%
• Equity multiple: 0.53×
• Total profit: $-19,757
• Equity at exit: $12,969

Cash invested: $42,000 (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: 215
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,319 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$184 /mo · $2,204/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $10

Break-even live

Break-even rent $1,307

Max offer price $150,000

Occupancy floor 94%

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7080 Niagara St Unit CC168 Romulus, MI	2.0	1.0	900	$1,250	$1.39	5d	1	0.24mi
9960 Wayne Rd Romulus, MI	1.0–2.0	1.0–1.5	800	$1,316	$1.65	2d	7	0.80mi
35301 Michelle Dr Unit 213 Romulus, MI	2.0	1.0	850	$900	$1.06	44d	1	0.91mi

Listing history 48 events

1. 2026-06-07
   days on market $150,000 Active 307 DOM
2. 2026-06-04
   days on market $150,000 Active 304 DOM
3. 2026-06-03
   days on market $150,000 Active 303 DOM
4. 2026-06-02
   days on market $150,000 Active 302 DOM
5. 2026-06-01
   days on market $150,000 Active 301 DOM
6. 2026-05-31
   days on market $150,000 Active 300 DOM
7. 2026-04-27
   price $150,000 209-char remark

   Show marketing remark (209 chars)

   This home has been approved for Short-Sale. Cute 3 Bedroom Ranch in the heart of Romulus, just waiting for the right person to show it the love it deserves. Spacious yard with 2 car garage. Great starter home.

8. 2026-04-26
   price $150,000 209-char remark

   Show marketing remark (209 chars)

   This home has been approved for Short-Sale. Cute 3 Bedroom Ranch in the heart of Romulus, just waiting for the right person to show it the love it deserves. Spacious yard with 2 car garage. Great starter home.

9. 2026-04-26
   price $150,000

   Show marketing remark (209 chars)

   This home has been approved for Short-Sale. Cute 3 Bedroom Ranch in the heart of Romulus, just waiting for the right person to show it the love it deserves. Spacious yard with 2 car garage. Great starter home.

10. 2026-01-14
    price $178,900 209-char remark

    Show marketing remark (209 chars)

    This home has been approved for Short-Sale. Cute 3 Bedroom Ranch in the heart of Romulus, just waiting for the right person to show it the love it deserves. Spacious yard with 2 car garage. Great starter home.

11. 2026-01-13
    price $178,900 209-char remark

    Show marketing remark (209 chars)

    This home has been approved for Short-Sale. Cute 3 Bedroom Ranch in the heart of Romulus, just waiting for the right person to show it the love it deserves. Spacious yard with 2 car garage. Great starter home.

12. 2026-01-13
    price $178,900

    Show marketing remark (209 chars)

    This home has been approved for Short-Sale. Cute 3 Bedroom Ranch in the heart of Romulus, just waiting for the right person to show it the love it deserves. Spacious yard with 2 car garage. Great starter home.

13. 2025-12-31
    price $179,900 209-char remark

    Show marketing remark (209 chars)

    This home has been approved for Short-Sale. Cute 3 Bedroom Ranch in the heart of Romulus, just waiting for the right person to show it the love it deserves. Spacious yard with 2 car garage. Great starter home.

14. 2025-12-30
    price $179,900 209-char remark

    Show marketing remark (209 chars)

    This home has been approved for Short-Sale. Cute 3 Bedroom Ranch in the heart of Romulus, just waiting for the right person to show it the love it deserves. Spacious yard with 2 car garage. Great starter home.

15. 2025-12-30
    price $179,900

    Show marketing remark (209 chars)

    This home has been approved for Short-Sale. Cute 3 Bedroom Ranch in the heart of Romulus, just waiting for the right person to show it the love it deserves. Spacious yard with 2 car garage. Great starter home.

16. 2025-08-04
    listed $180,000 Active 209-char remark

    Show marketing remark (209 chars)

    This home has been approved for Short-Sale. Cute 3 Bedroom Ranch in the heart of Romulus, just waiting for the right person to show it the love it deserves. Spacious yard with 2 car garage. Great starter home.

17. 2025-08-04
    listed $180,000 Active 209-char remark

    Show marketing remark (209 chars)

    This home has been approved for Short-Sale. Cute 3 Bedroom Ranch in the heart of Romulus, just waiting for the right person to show it the love it deserves. Spacious yard with 2 car garage. Great starter home.

18. 2025-08-04
    listed $180,000 Active

    Show marketing remark (209 chars)

    This home has been approved for Short-Sale. Cute 3 Bedroom Ranch in the heart of Romulus, just waiting for the right person to show it the love it deserves. Spacious yard with 2 car garage. Great starter home.

19. 2022-09-22
    soldstatus $135,000
20. 2022-09-16
    soldstatus $135,000 Sold
21. 2022-09-16
    soldstatus $135,000 Closed
22. 2022-08-04
    status Pending
23. 2022-08-04
    status Pending
24. 2022-07-17
    price $134,900
25. 2022-07-17
    price $134,900
26. 2022-07-14
    listed $149,900 Active
27. 2022-07-14
    listed $149,900 Active
28. 2019-10-22
    historical
29. 2019-10-22
    historical
30. 2019-07-23
    status Active
31. 2019-07-22
    status Active
32. 2019-07-18
    status Pending
33. 2019-07-18
    status Pending
34. 2019-06-24
    listed $69,900 Active
35. 2019-06-24
    listed $69,900 Active
36. 2009-10-07
    soldstatus $66,000
37. 2008-12-01
    soldstatus $11,100
38. 2008-10-01
    listed $9,900
39. 2007-07-11
    soldstatus $107,000
40. 2007-02-02
    soldstatus $15,211
41. 2006-06-05
    listed $31,500
42. 2006-05-08
    historical
43. 2005-10-28
    listed $37,800
44. 1999-11-08
    soldstatus $57,000
45. 1999-10-20
    historical
46. 1999-10-15
    soldstatus $57,000
47. 1999-08-04
    listed $59,900
48. 1999-07-20
    listed $61,000

ⓘ 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: $2,204 · $184/mo
• Projected year-2 tax: $2,257 · $188/mo
• Expected delta: +$53/yr (+$4/mo · 2.4%)

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

Taxation est. · year 1

• Rental income: $15,833
• − Mortgage interest: −$8,402
• − Property taxes: −$2,204
• − Insurance: −$750
• − Repairs & maintenance: −$1,267
• − Management: −$1,267
• − Depreciation: −$4,364
• Taxable loss: −$2,420
• Est. tax savings @ 24.0%: +$581
• After-tax cash flow: $696/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

+145.9% since first listed

42 events — show timeline

• 2026-04-27 Price Changed $150,000 MiRealSource-MiMLS
• 2026-04-26 Price Changed $150,000 REALCOMP
• 2026-04-26 Price Changed $150,000 SW Michigan MLS
• 2026-01-14 Price Changed $178,900 MiRealSource-MiMLS
• 2026-01-13 Price Changed $178,900 REALCOMP
• 2026-01-13 Price Changed $178,900 SW Michigan MLS
• 2025-12-31 Price Changed $179,900 MiRealSource-MiMLS
• 2025-12-30 Price Changed $179,900 REALCOMP
• 2025-12-30 Price Changed $179,900 SW Michigan MLS
• 2025-08-04 Listed $180,000 REALCOMP
• 2025-08-04 Listed $180,000 SW Michigan MLS
• 2025-08-04 Listed $180,000 MiRealSource-MiMLS
• 2022-09-22 Sold (Public Records) $135,000 Public Records
• 2022-09-16 Sold (MLS) $135,000 MiRealSource-MiMLS
• 2022-09-16 Sold (MLS) $135,000 REALCOMP
• 2022-08-04 Pending — REALCOMP
• 2022-08-04 Pending — MiRealSource-MiMLS
• 2022-07-17 Price Changed $134,900 MiRealSource-MiMLS
• 2022-07-17 Price Changed $134,900 REALCOMP
• 2022-07-14 Listed $149,900 MiRealSource-MiMLS
• 2022-07-14 Listed $149,900 REALCOMP
• 2019-10-22 Listing Removed — REALCOMP
• 2019-10-22 Listing Removed — MiRealSource-MiMLS
• 2019-07-23 Relisted — MiRealSource-MiMLS
• 2019-07-22 Relisted — REALCOMP
• 2019-07-18 Pending — MiRealSource-MiMLS
• 2019-07-18 Pending — REALCOMP
• 2019-06-24 Listed $69,900 MiRealSource-MiMLS
• 2019-06-24 Listed $69,900 REALCOMP
• 2009-10-07 Sold (Public Records) $66,000 Public Records
• 2008-12-01 Sold (MLS) $11,100 REALCOMP
• 2008-10-01 Listed $9,900 REALCOMP
• 2007-07-11 Sold (Public Records) $107,000 Public Records
• 2007-02-02 Sold (MLS) $15,211 REALCOMP
• 2006-06-05 Listed $31,500 REALCOMP
• 2006-05-08 Listing Removed — REALCOMP
• 2005-10-28 Listed $37,800 REALCOMP
• 1999-11-08 Sold (Public Records) $57,000 Public Records
• 1999-10-20 Listing Removed — REALCOMP
• 1999-10-15 Sold (MLS) $57,000 REALCOMP
• 1999-08-04 Listed $59,900 REALCOMP
• 1999-07-20 Listed $61,000 REALCOMP

Property tax history

+8.0%/yr

Latest (2025): $2,204 · -33.7% YoY. Source: county tax records.