28567 Forest Dale St · Romulus, MI 48174

$127,900

3 bd · 1.0 ba · 816 sqft · SingleFamily public records · 182 Days on market

Built 1970 6,970 sqft lot Est $140k · 9% 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 +25.4/30.0
• ARV discount +11.5/15.0
• DSCR +8.4/10.0
• 1% rule +6.5/10.0
• 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

CLEAN 3 BEDROOM RANCH WITH A LARGE YARD! CLOSE TO SHOPPING AND SCHOOLS! AS IS SALE! LAND CONTRACT TERMS AVAILABLE! ALL DATA IS APPROXIMATE. BUYERS AGENT TO VERIFY ALL INFORMATION.

Key facts

• Close to schools
• Large yard
• Close to shopping

Tags

• LARGE YARD
• CLOSE TO SHOPPING
• CLOSE TO SCHOOLS

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Ground-level entry with steps
• Construction: Aluminum siding
• Exterior features: Paved road access; Lot approximately 0.16 acres (60 x 115); No pool

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No cooling
• Interior features: Crawl space basement; Five total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $128k.

Deal economics

• At list price, monthly cash flow is $295 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $128k).
• Recommended offer: $113k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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; 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 $884 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 182 days — a 12% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 27y 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 $73k; list at $128k implies a 75% gain — meaningful room to come down on a strong offer.

Recommended offer $112,552 (12.0% below list)

Questions for the listing agent

1. It's been on market 182 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 1970 — 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: 9.06%
• Cash-on-cash: 9.88%
• DSCR: 1.44
• GRM: 7.2

CMA / ARV

• ARV (on-the-fly): $140,352
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15706 Isabelle St	0.09mi	2/1.0 (-1)	816 (0%)	0mo	$118,550	$145	91
28340 Leroy St	0.19mi	3/1.0	816 (0%)	14mo	$135,000	$165	79
15686 Meadow St	0.34mi	3/1.0	816 (0%)	7mo	$160,000	$196	78
15762 Harrison	0.13mi	3/1.0	816 (0%)	22mo	$140,000	$172	76
15575 Meadow St	0.39mi	3/1.0	816 (0%)	12mo	$189,000	$232	72
28058 Leroy St	0.30mi	3/1.0	816 (0%)	18mo	$142,500	$175	70
16365 Farnum St	0.52mi	2/1.0 (-1)	852 (+4%)	19mo	$137,000	$161	48

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: -1.4%
• Equity multiple: 0.95×
• Total profit: $-1,933
• Equity at exit: $19,070

10-year hold

• IRR: 8.3%
• Equity multiple: 1.63×
• Total profit: $22,550
• Equity at exit: $11,058

Cash invested: $35,812 (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: 7.2×

Monthly cashflow live

• Estimated rent: $1,472 medium
• Mortgage (P&I): −$671
• Tax from tax record: −$144 /mo · $1,730/yr
• Insurance: −$53
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $295

Break-even live

Break-even rent $1,099

Max offer price $127,900

Occupancy floor 75%

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: $31,975
• Closing costs: $3,837
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-18
   days on market $127,900 Active 182 DOM
2. 2026-06-17
   statusdays on market $127,900 Active 181 DOM
3. 2026-06-16
   days on market $127,900 Active Under Contract 180 DOM
4. 2026-06-15
   days on market $127,900 Active Under Contract 179 DOM
5. 2026-06-13
   days on market $127,900 Active Under Contract 177 DOM
6. 2026-06-13
   days on market $127,900 Active Under Contract 176 DOM
7. 2026-06-09
   days on market $127,900 Active Under Contract 173 DOM
8. 2026-06-08
   days on market $127,900 Active Under Contract 172 DOM
9. 2026-06-07
   days on market $127,900 Active Under Contract 171 DOM
10. 2026-06-04
    days on market $127,900 Active Under Contract 168 DOM
11. 2026-06-03
    days on market $127,900 Active Under Contract 167 DOM
12. 2026-06-02
    days on market $127,900 Active Under Contract 166 DOM
13. 2026-06-01
    days on market $127,900 Active Under Contract 165 DOM
14. 2026-05-31
    days on market $127,900 Active Under Contract 164 DOM
15. 2026-04-27
    historical Accepting Backup Offers 179-char remark

    Show marketing remark (179 chars)

    CLEAN 3 BEDROOM RANCH WITH A LARGE YARD! CLOSE TO SHOPPING AND SCHOOLS! AS IS SALE! LAND CONTRACT TERMS AVAILABLE! ALL DATA IS APPROXIMATE. BUYERS AGENT TO VERIFY ALL INFORMATION.

16. 2026-04-27
    historical Active Under Contract

    Show marketing remark (179 chars)

    CLEAN 3 BEDROOM RANCH WITH A LARGE YARD! CLOSE TO SHOPPING AND SCHOOLS! AS IS SALE! LAND CONTRACT TERMS AVAILABLE! ALL DATA IS APPROXIMATE. BUYERS AGENT TO VERIFY ALL INFORMATION.

17. 2025-12-18
    listed $127,900 Active

    Show marketing remark (179 chars)

    CLEAN 3 BEDROOM RANCH WITH A LARGE YARD! CLOSE TO SHOPPING AND SCHOOLS! AS IS SALE! LAND CONTRACT TERMS AVAILABLE! ALL DATA IS APPROXIMATE. BUYERS AGENT TO VERIFY ALL INFORMATION.

18. 2025-12-18
    listed $127,900 Active 179-char remark

    Show marketing remark (179 chars)

    CLEAN 3 BEDROOM RANCH WITH A LARGE YARD! CLOSE TO SHOPPING AND SCHOOLS! AS IS SALE! LAND CONTRACT TERMS AVAILABLE! ALL DATA IS APPROXIMATE. BUYERS AGENT TO VERIFY ALL INFORMATION.

19. 2025-12-18
    historical

    Show marketing remark (179 chars)

    CLEAN 3 BEDROOM RANCH WITH A LARGE YARD! CLOSE TO SHOPPING AND SCHOOLS! AS IS SALE! LAND CONTRACT TERMS AVAILABLE! ALL DATA IS APPROXIMATE. BUYERS AGENT TO VERIFY ALL INFORMATION.

20. 2025-12-18
    historical

    Show marketing remark (179 chars)

    CLEAN 3 BEDROOM RANCH WITH A LARGE YARD! CLOSE TO SHOPPING AND SCHOOLS! AS IS SALE! LAND CONTRACT TERMS AVAILABLE! ALL DATA IS APPROXIMATE. BUYERS AGENT TO VERIFY ALL INFORMATION.

21. 2025-12-15
    listed $108,900 Active
22. 2025-12-15
    listed $108,900 Active
23. 2008-06-01
    historical
24. 2007-12-01
    listed $121,000
25. 2007-12-01
    listed $121,000
26. 1999-10-01
    soldstatus $73,000
27. 1999-08-31
    soldstatus $73,000
28. 1999-08-31
    soldstatus $73,000
29. 1999-07-07
    listed $74,900
30. 1999-07-07
    listed $74,900
31. 1995-02-13
    soldstatus $44,000

ⓘ 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: $1,730 · $144/mo
• Projected year-2 tax: $1,850 · $154/mo
• Expected delta: +$120/yr (+$10/mo · 6.9%)

ⓘ 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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,666
• − Mortgage interest: −$7,164
• − Property taxes: −$1,730
• − Insurance: −$640
• − Repairs & maintenance: −$1,413
• − Management: −$1,413
• − Depreciation: −$3,721
• Taxable income: $1,585
• Est. tax owed @ 24.0%: −$380
• After-tax cash flow: $3,158/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

+190.7% since first listed

17 events — show timeline

• 2026-04-27 Contingent — MiRealSource-MiMLS
• 2026-04-27 Contingent — REALCOMP
• 2025-12-18 Listed $127,900 REALCOMP
• 2025-12-18 Listing Removed — MiRealSource-MiMLS
• 2025-12-18 Listing Removed — REALCOMP
• 2025-12-18 Listed $127,900 MiRealSource-MiMLS
• 2025-12-15 Listed $108,900 REALCOMP
• 2025-12-15 Listed $108,900 MiRealSource-MiMLS
• 2008-06-01 Listing Removed — MiRealSource-MiMLS
• 2007-12-01 Listed $121,000 REALCOMP
• 2007-12-01 Listed $121,000 MiRealSource-MiMLS
• 1999-10-01 Sold (Public Records) $73,000 Public Records
• 1999-08-31 Sold (MLS) $73,000 REALCOMP
• 1999-08-31 Sold (MLS) $73,000 MiRealSource-MiMLS
• 1999-07-07 Listed $74,900 REALCOMP
• 1999-07-07 Listed $74,900 MiRealSource-MiMLS
• 1995-02-13 Sold (Public Records) $44,000 Public Records

Property tax history

-1.1%/yr

Latest (2025): $1,730 · -13.7% YoY. Source: county tax records.