5969 Fellrath St · Taylor, MI 48180

$129,900

2 bd · 1.0 ba · 728 sqft · SingleFamily public records · 57 Days on market

Built 1948 1,307 sqft lot $178/sqft · 33% above area Est $135k · at est.

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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 +20.5/30.0
• ARV discount +9.0/15.0
• DSCR +6.5/10.0
• 1% rule +5.1/10.0
• 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

Clean Fully updated Ranch Home! Nice Kitchen with Granite Countertops and Backsplash! Kitchen has Dine in area as well. Newer Carpet and Flooring throughout the home. Large Utility room with newer flooring. Large Backyard! Appliances included! Immediate Occupancy! C of O from City Provided. This is a must See!

Key facts

• Dine in area
• Large backyard
• Appliances included

Tags

• GRANITE COUNTERTOPS
• DINE IN AREA
• LARGE UTILITY ROOM
• LARGE BACKYARD
• APPLIANCES INCLUDED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $172 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.9% vs local median 5.4% 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+, 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.
• Zoned schools: Clarence Randall Elem School (math 10% / reading 10%, grade F, #1,230 of 1,397 statewide, top 91%, 461 students, 81% FRL); Hoover Middle School (math 12% / reading 27%, grade F, #425 of 493 statewide, top 87%, 490 students, 81% FRL); Taylor High School (math 37% / reading 52%, grade F, #214 of 713 statewide, top 36%, 1,394 students, 66% FRL).
• Market conditions: Rents rising fast (+4.9%/yr); 289 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $898 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 57 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 8y 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 $95k; 37% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 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 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.01% ✓
• Cap rate: 7.88%
• Cash-on-cash: 5.68%
• DSCR: 1.25
• GRM: 8.3

CMA / ARV

• ARV (median comp): $134,521
• List price: $129,900
• Delta: -3.43%
• 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
6029 Fellrath St	0.06mi	2/1.0	696 (-4%)	12mo	$130,000	$187	80
6019 John Daly St	0.31mi	2/1.0	721 (-1%)	9mo	$134,000	$186	77
5961 Mcguire St	0.13mi	3/1.0 (+1)	780 (+7%)	9mo	$139,900	$179	70
6139 Hampden St	0.28mi	2/1.0	648 (-11%)	2mo	$100,000	$154	67
6160 Mcguire St	0.18mi	2/1.0	660 (-9%)	12mo	$89,000	$135	66
26389 Annapolis St	0.66mi	2/1.0	729 (+0%)	9mo	$126,500	$174	61
26252 Eton Ave	0.54mi	2/1.0	696 (-4%)	8mo	$123,000	$177	60
26241 Annapolis St	0.63mi	2/1.0	696 (-4%)	6mo	$54,500	$78	58
6739 Marvin St	0.61mi	2/1.0	702 (-4%)	10mo	$135,000	$192	57
6348 Dean St	0.34mi	2/1.0	824 (+13%)	8mo	$65,000	$79	56
6049 Michael St	0.50mi	3/1.0 (+1)	792 (+9%)	11mo	$160,000	$202	47
5940 Daniels St	0.64mi	2/1.0	833 (+14%)	3mo	$146,999	$176	43

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: -5.5%
• Equity multiple: 0.79×
• Total profit: $-7,535
• Equity at exit: $19,369

10-year hold

• IRR: 6.3%
• Equity multiple: 1.51×
• Total profit: $18,438
• Equity at exit: $11,231

Cash invested: $36,372 (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: 289
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,310 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$128 /mo · $1,531/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $172

Break-even live

Break-even rent $1,092

Max offer price $129,900

Occupancy floor 82%

Sensitivity live

Price	-10% $246	-5% $209	+0% $172	+5% $135	+10% $99
Rent	-10% $69	-5% $120	+0% $172	+5% $224	+10% $276
Rate	-1.0pp $238	-0.5pp $205	base $172	+0.5pp $138	+1.0pp $104

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5845 Michael St Taylor, MI	2.0	1.0	618	$1,325	$2.14	6d	1	0.50mi
6477 Westpoint St Taylor, MI	1.0	1.0	650	$900	$1.38	6d	1	1.29mi

Listing history 12 events

1. 2026-04-10
   price $129,900 311-char remark

   Show marketing remark (311 chars)

   Clean Fully updated Ranch Home! Nice Kitchen with Granite Countertops and Backsplash! Kitchen has Dine in area as well. Newer Carpet and Flooring throughout the home. Large Utility room with newer flooring. Large Backyard! Appliances included! Immediate Occupancy! C of O from City Provided. This is a must See!

2. 2026-04-09
   price $129,900 311-char remark

   Show marketing remark (311 chars)

   Clean Fully updated Ranch Home! Nice Kitchen with Granite Countertops and Backsplash! Kitchen has Dine in area as well. Newer Carpet and Flooring throughout the home. Large Utility room with newer flooring. Large Backyard! Appliances included! Immediate Occupancy! C of O from City Provided. This is a must See!

3. 2026-03-31
   price $139,000 311-char remark

   Show marketing remark (311 chars)

   Clean Fully updated Ranch Home! Nice Kitchen with Granite Countertops and Backsplash! Kitchen has Dine in area as well. Newer Carpet and Flooring throughout the home. Large Utility room with newer flooring. Large Backyard! Appliances included! Immediate Occupancy! C of O from City Provided. This is a must See!

4. 2026-03-31
   price $139,000 311-char remark

   Show marketing remark (311 chars)

   Clean Fully updated Ranch Home! Nice Kitchen with Granite Countertops and Backsplash! Kitchen has Dine in area as well. Newer Carpet and Flooring throughout the home. Large Utility room with newer flooring. Large Backyard! Appliances included! Immediate Occupancy! C of O from City Provided. This is a must See!

5. 2026-03-26
   listed $129,000 Active 311-char remark

   Show marketing remark (311 chars)

   Clean Fully updated Ranch Home! Nice Kitchen with Granite Countertops and Backsplash! Kitchen has Dine in area as well. Newer Carpet and Flooring throughout the home. Large Utility room with newer flooring. Large Backyard! Appliances included! Immediate Occupancy! C of O from City Provided. This is a must See!

6. 2026-03-26
   listed $129,000 Active 311-char remark

   Show marketing remark (311 chars)

   Clean Fully updated Ranch Home! Nice Kitchen with Granite Countertops and Backsplash! Kitchen has Dine in area as well. Newer Carpet and Flooring throughout the home. Large Utility room with newer flooring. Large Backyard! Appliances included! Immediate Occupancy! C of O from City Provided. This is a must See!

7. 2018-03-05
   soldstatus $95,000 Sold
8. 2018-03-05
   soldstatus $95,000 Closed
9. 2018-03-04
   status Pending
10. 2018-03-04
    status Pending
11. 2018-02-03
    listed $120,000 Active
12. 2018-02-03
    listed $120,000 Active

ⓘ 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: $1,531 · $128/mo
• Projected year-2 tax: $1,766 · $147/mo
• Expected delta: +$235/yr (+$20/mo · 15.4%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°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: $15,722
• − Mortgage interest: −$7,276
• − Property taxes: −$1,531
• − Insurance: −$650
• − Repairs & maintenance: −$1,258
• − Management: −$1,258
• − Depreciation: −$3,779
• Taxable loss: −$29
• Est. tax savings @ 24.0%: +$7
• After-tax cash flow: $2,073/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

+8.2% since first listed

12 events — show timeline

• 2026-04-10 Price Changed $129,900 MiRealSource-MiMLS
• 2026-04-09 Price Changed $129,900 REALCOMP
• 2026-03-31 Price Changed $139,000 MiRealSource-MiMLS
• 2026-03-31 Price Changed $139,000 REALCOMP
• 2026-03-26 Listed $129,000 REALCOMP
• 2026-03-26 Listed $129,000 MiRealSource-MiMLS
• 2018-03-05 Sold (MLS) $95,000 MiRealSource-MiMLS
• 2018-03-05 Sold (MLS) $95,000 REALCOMP
• 2018-03-04 Pending — MiRealSource-MiMLS
• 2018-03-04 Pending — REALCOMP
• 2018-02-03 Listed $120,000 MiRealSource-MiMLS
• 2018-02-03 Listed $120,000 REALCOMP

Property tax history

+1.0%/yr

Latest (2025): $1,531 · -9.5% YoY. Source: county tax records.