4300 Evans St · Wayne, MI 48184

$199,900

3 bd · 1.0 ba · 998 sqft · SingleFamily public records · 4 Days on market

Built 1956 6,970 sqft lot Est $140k · 43% over

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Why this score? — see what drove the F 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 +7.1/30.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• 1% rule +1.3/10.0
• DSCR +1.3/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

* * Offer Deadline Sunday, June 7 at Noon. Responses by Monday June 8 at 6PM * * Move in ready, Meticulously cared for full brick ranch! This home features oversized rear yard, 100% fenced in! Rear patio features stamped concrete and a convenient shade awning! The finished basement has bonus heat with wall heater for large holiday gatherings. Full basement features an open lay out with storage, 1/2 bath and 2 extra large rooms with large closet space, great for an office/or craft rooms! Detached 2-Car garage with 3 car wide concrete drive, * * * * space for many vehicles * * * * bonus street parking on partial cul-de-sac corner lot. Window treatments and blinds, All appliances in

Key facts

• 6,970 sq ft lot
• 2 garage spots
• Built 1956

Property features AI

Exterior

• Parking: Detached 2-car garage with electric and garage door opener
• Utilities: Public water; Natural gas; Electric service (implied by electric in garage)
• Home design: Residential, single-story home; Built in 1956; Basement present
• Construction: Brick construction; Basement foundation
• Exterior features: Brick exterior; Fenced yard; Patio; Frontage approximately 29 feet; Paved street access; Pets allowed

Interior

• Kitchen: Wood flooring; Kitchen approximately 9 x 11; Range/Oven; Microwave; Dishwasher
• Bedrooms: Bedroom 1 (Entry level) — 13 x 11, wood flooring; Bedroom 2 (Entry level) — 13 x 9, carpet; Bedroom 3 (Entry level) — width 11, wood flooring
• Flooring: Wood flooring in kitchen and most bedrooms; Carpet in living room and one bedroom
• Bathrooms: 1 full bathroom; 2 total baths/lavatories; Lavatory located in basement
• Heating & cooling: Forced air heating; Central air conditioning; Natural gas heating fuel; Gas water heater
• Interior features: Total of 8 rooms; Finished basement
• Laundry & utility: Laundry room in basement (about 10 x 10); Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $-282 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $150k (24.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (37.4% below list).
• Recommended offer: $125k (37.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 72/100 on livability (#252 in MI) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools F, crime F, employment D-.
• Wayne-Westland Community School District (suburban): math 11% / reading 27% proficiency, ranked #474 of 540 in MI (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 56 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $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.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $62k; list at $200k implies a 222% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,046 (37.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1956 — 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. 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?
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: 0.63% ✗
• Cap rate: 4.60%
• Cash-on-cash: -6.04%
• DSCR: 0.73
• GRM: 13.3

CMA / ARV

• ARV (on-the-fly): $139,720
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
33988 Richard St	0.45mi	3/1.0	1,022 (+2%)	4mo	$180,000	$176	72
4643 S Hubbard St	0.54mi	3/1.0	1,020 (+2%)	4mo	$200,000	$196	68
34084 Currier St	0.61mi	3/1.0	1,014 (+2%)	4mo	$170,700	$168	66
4537 Winifred St	0.63mi	3/1.0	1,024 (+3%)	2mo	$95,000	$93	64
4173 Columbus St	0.32mi	2/1.0 (-1)	918 (-8%)	3mo	$110,000	$120	64
5109 S Hubbard St	0.62mi	3/1.0	1,020 (+2%)	4mo	$85,000	$83	64
4004 Howe Rd	0.31mi	3/2.0	1,104 (+11%)	2mo	$152,000	$138	62
4052 Howe Rd	0.30mi	3/2.0	1,104 (+11%)	3mo	$155,000	$140	62
32360 Carlisle Pkwy	0.62mi	3/1.0	961 (-4%)	4mo	$90,000	$94	61
4827 Winifred St	0.67mi	3/1.0	1,020 (+2%)	4mo	$170,000	$167	61
3963 S Hubbard St	0.53mi	3/1.0	1,088 (+9%)	1mo	$175,000	$161	59
3953 Niagara St	0.71mi	3/1.0	1,088 (+9%)	6mo	$145,000	$133	47

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: -26.7%
• Equity multiple: 0.10×
• Total profit: $-50,379
• Equity at exit: $29,806

10-year hold

• IRR: -24.3%
• Equity multiple: -0.20×
• Total profit: $-67,168
• Equity at exit: $17,284

Cash invested: $55,972 (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 48184

• Active inventory: 56
• Price-to-rent: 13.3×

Monthly cashflow live

• Estimated rent: $1,250 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$138 /mo · $1,655/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $-282

Break-even live

Break-even rent $1,607

Max offer price $150,151

Occupancy floor —

Sensitivity live

Price	-10% $-168	-5% $-225	+0% $-282	+5% $-338	+10% $-395
Rent	-10% $-380	-5% $-331	+0% $-282	+5% $-232	+10% $-183
Rate	-1.0pp $-181	-0.5pp $-231	base $-282	+0.5pp $-333	+1.0pp $-386

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
33095 Forest St Wayne, MI	1.0–2.0	1.0	815	$1,142	$1.40	3d	5	0.15mi
4924 Howe Rd Wayne, MI	3.0	1.0	1022	$1,300	$1.27	18d	1	0.41mi
34420 Sims St Unit 14 Wayne, MI	2.0	1.0	800	$900	$1.12	44d	1	0.61mi
34420 Sims St Unit 11 Wayne, MI	2.0	1.0	800	$849	$1.06	5d	1	0.62mi
34639 Brush St Wayne, MI	2.0	1.0	780	$1,200	$1.54	44d	1	0.65mi
5672 Howe Rd Unit 15 Wayne, MI	2.0	1.0	700	$850	$1.21	18d	1	0.68mi
33000 Parkhill St Wayne, MI	1.0–2.0	1.0–1.5	800	$1,240	$1.55	25d	1	0.74mi
3741 S Wayne Rd Wayne, MI	2.0	1.5	1114	$1,500	$1.35	0d	1	0.83mi
34510 Van Born Rd Wayne, MI	2.0	1.0	990	$1,325	$1.34	15d	1	0.86mi
32860 Mecosta St Unit 1 Westland, MI	2.0	1.0	900	$1,200	$1.33	44d	1	0.95mi
32860 Mecosta St Westland, MI	2.0	1.0	1000	$1,150	$1.15	44d	1	0.95mi
2758 Ackley Ave Westland, MI	2.0	1.0	656	$1,175	$1.79	0d	3	0.99mi
33507 Berville Ct Westland, MI	2.0	1.5	907	$1,350	$1.49	3d	1	1.01mi
34039 Cambria Ct Westland, MI	2.0	1.0	836	$1,395	$1.67	44d	1	1.03mi
34630 Glenwood Rd Westland, MI	2.0	1.0	710	$1,150	$1.62	44d	1	1.06mi
35505 E Michigan Ave Unit 1 Wayne, MI	2.0	1.0	780	$775	$0.99	44d	1	1.08mi
4916 S Wayne Rd Unit 1 Wayne, MI	2.0	1.0	650	$975	$1.50	13d	1	1.11mi
2310 Deerfield Ct Westland, MI	3.0	1.5	1100	$1,125	$1.02	44d	1	1.13mi
35390 Van Born Rd #103 Wayne, MI	2.0	1.0	925	$1,100	$1.19	44d	1	1.14mi
2264 Delton Ct Westland, MI	3.0	1.5	1076	$1,300	$1.21	15d	1	1.16mi
2036 Alberta St Westland, MI	3.0	1.0	936	$1,325	$1.42	44d	1	1.19mi
35700 E Michigan Ave Wayne, MI	2.0	1.0	701	$1,060	$1.51	5d	6	1.20mi
2040 Dryden St Westland, MI	3.0	1.0	1100	$1,150	$1.05	18d	1	1.24mi
5228 Fletcher St Wayne, MI	3.0	1.0	900	$1,750	$1.94	0d	1	1.34mi
31809 Tuscola Ct Westland, MI	3.0	1.0	1078	$1,400	$1.30	0d	1	1.39mi

Listing history 6 events

1. 2026-06-08
   statusdays on market $199,900 Pending 4 DOM
2. 2026-06-07
   statusdays on marketlisting id $199,900 Active 3 DOM
3. 2026-06-04
   days on market $199,900 Coming Soon 2 DOM
4. 2026-06-03
   remarks 699-char remark
5. 2026-06-02
   remarks 293-char remark
6. 2026-06-02
   listed $199,900 Coming Soon 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: $1,655 · $138/mo
• Projected year-2 tax: $2,367 · $197/mo
• Expected delta: +$712/yr (+$59/mo · 43.0%)

ⓘ 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 2/10 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: $15,006
• − Mortgage interest: −$11,198
• − Property taxes: −$1,655
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − Depreciation: −$5,815
• Taxable loss: −$7,062
• Est. tax savings @ 24.0%: +$1,695
• After-tax cash flow: $-1,684/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: Wayne-Westland Community School District
• NCES district ID: 2600015
• Math proficiency: 11% ▼ -6.00%
• Reading proficiency: 27% ▼ -2.00%
• Median HH income: $43,524
• Composite: 16.4/100
• National rank: #9195
• State rank: #474 of 540 in MI

Livability — Wayne

• Score: 72/100
• State rank: #252
• US rank: #6284

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Wayne, MI
• County: Wayne County · 1,562,939 people
• City population: 17,348
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 17,348
• Household income: $59,171
• Rent vs Own: 39.2% rent · 60.8% own
• Severe rent burden: 720.0

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 0.56)
• Race & ethnicity: White 61% Black 25% Two or more races 7% Hispanic / Latino 5% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 4% Puerto Rican 1%
• Common ancestry: Romanian 7% Lithuanian 3% Italian 2%
• Foreign-born: 6% · Canada, South Korea
• Languages at home: 92% English-only · Spanish 3% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -171.12%
• Current HPI: 217.8548
• 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

+222.4% since first listed

6 events — show timeline

• 2026-06-02 Coming Soon $199,900 MiRealSource-MiMLS
• 2023-08-11 Coming Soon — MiRealSource-MiMLS
• 2023-08-11 Coming Soon — REALCOMP
• 2023-08-11 Listing Removed — MiRealSource-MiMLS
• 2023-08-11 Listing Removed — REALCOMP
• 1992-04-06 Sold (Public Records) $62,000 Public Records

Property tax history

+0.7%/yr

Latest (2025): $1,655 · -15.8% YoY. Source: county tax records.