118 Terri · Dearborn Heights, MI 48127

$24,900

2 bd · 1.0 ba · 856 sqft · SingleFamily · 22 Days on market

Built 2007 $29/sqft · 88% below area $750/mo HOA · 53% of rent

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this well-maintained 2-bedroom, 1 full bath home located in a desirable 55+ community. This property offers a bright and spacious open floor with all appliances included for a move-in-ready experience. Major updates include a newer water tank and custom shades that stay with the home. Enjoy outdoor living on the oversized patio that's in excellent condition. Additional storage provided by a private shed. HOA covers snow removal, along with access to a community clubhouse and heated pool. A solid, clean option in a community that offers both comfort and convenience. TV armoire will transfer with the home. Sale is contingent on buyer HOA approval, application is uploaded in docs or call listing agent. Square footage and room sizes are approximate, buyer to inspect and verify. Home is occupied, please give a minimum of 2 hours notice for appointments. No showings on Tuesday or Friday.

Key facts

• Community pool
• Built 2007
• Listed 22 days

Property features AI

Finance

• Other: Paved road access; Irregular lot shape
• HOA & community: Homeowners association with a $750 monthly fee; Association fee includes snow removal; Community pool; Senior community

Exterior

• Parking: No garage; Assigned parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Ground-level entry with steps; Residential property
• Construction: Vinyl siding; Pillar/post/pier foundation; Built with asphalt roofing
• Exterior features: Asphalt roof; Shed(s)

Interior

• Kitchen: Dishwasher; Free-standing gas oven; Free-standing gas range; Range hood; Free-standing refrigerator
• Bedrooms: Total rooms: 6
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Forced air heat; Natural gas heating
• Interior features: Ceiling fan(s); Awning(s); Porch
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $205 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $25k (1.5% below list) — sets the bar for market timing.
• Cap rate 16.2% vs local median 5.5% in Dearborn Heights — 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 79/100 on livability (#82 in MI, #1,885 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools C-, crime D+, employment D+.
• Crestwood School District (suburban): math 32% / reading 43% proficiency, ranked #242 of 540 in MI (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 143 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 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 $172 of loan paydown is wiped out by about $747 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.
• At projected returns (-3.0% appreciation + 0.4% rent growth), your $7k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($25k) is reasonable based on typical stale-listing flexibility.
• 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

• Watch-outs: HOA is 53% of rent.

Recommended offer $24,526 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Crime grade is D 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?
4. 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?
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: 5.73% ✓
• Cap rate: 16.18%
• Cash-on-cash: 35.32%
• DSCR: 2.57
• GRM: 1.5

CMA / ARV

• ARV (median comp): $207,924
• List price: $24,900
• Delta: -88.02%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6453 Centralia St	0.27mi	2/1.0	880 (+3%)	8mo	$180,000	$205	76
6165 Nightingale St	0.75mi	2/1.0	864 (+1%)	1mo	$150,000	$174	63
6669 N Beech Daly Rd	0.27mi	3/1.0 (+1)	925 (+8%)	8mo	$205,000	$222	62
6431 Centralia St	0.31mi	3/1.0 (+1)	864 (+1%)	21mo	$180,000	$208	62
5846 Berwyn St	0.68mi	2/1.0	862 (+1%)	8mo	$159,900	$185	60
6661 N Beech Daly Rd	0.27mi	3/1.0 (+1)	925 (+8%)	12mo	$230,000	$249	58
25958 Hass St	0.32mi	3/1.0 (+1)	884 (+3%)	24mo	$180,000	$204	55
7014 Kinmore St	0.47mi	3/1.0 (+1)	960 (+12%)	7mo	$176,000	$183	46
6176 N Gulley Rd	0.66mi	2/1.0	960 (+12%)	12mo	$130,000	$135	39
6200 Nightingale St	0.75mi	2/2.0	931 (+9%)	12mo	$220,000	$236	37

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 · 0.41% rent growth · sell at horizon

5-year hold

• IRR: 22.7%
• Equity multiple: 1.85×
• Total profit: $5,894
• Equity at exit: $3,713

10-year hold

• IRR: 25.0%
• Equity multiple: 2.41×
• Total profit: $9,801
• Equity at exit: $2,153

Cash invested: $6,972 (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 48127

• Rents YoY: 0.4%
• Active inventory: 143
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $1,427 high
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $374/yr
• Insurance: −$10
• HOA: −$750
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $205

Break-even live

Break-even rent $1,167

Max offer price $24,900

Occupancy floor 81%

Sensitivity live

Price	-10% $222	-5% $214	+0% $205	+5% $197	+10% $188
Rent	-10% $93	-5% $149	+0% $205	+5% $262	+10% $318
Rate	-1.0pp $218	-0.5pp $212	base $205	+0.5pp $199	+1.0pp $192

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: $6,225
• Closing costs: $747
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
181 Terri Dr Unit 181 Dearborn Heights, MI	2.0	2.0	840	$1,119	$1.33	5d	1	0.02mi
79 3rd St Unit 79 Dearborn Heights, MI	2.0	1.0	840	$1,339	$1.59	25d	1	0.13mi
7014 Kinmore St Dearborn Heights, MI	3.0	1.0	960	$1,900	$1.98	22d	1	0.48mi
7080 Highview St Dearborn Heights, MI	3.0	2.5	1105	$2,000	$1.81	18d	1	0.61mi
6954 Inkster Rd Dearborn Heights, MI	1.0–2.0	1.0–1.5	837	$1,339	$1.60	3d	9	0.72mi
5722 Centralia St Dearborn Heights, MI	3.0	1.0	999	$1,750	$1.75	2d	1	0.74mi
7048 Deering St Garden City, MI	3.0	1.0	910	$1,500	$1.65	18d	1	0.96mi
5726 Inkster Rd Dearborn Heights, MI	1.0	1.0	630	$1,050	$1.67	44d	1	0.98mi
7215 Lathers St Westland, MI	1.0	1.0	836	$1,045	$1.25	25d	1	1.20mi
5839 Helen St Garden City, MI	3.0	1.0	984	$1,500	$1.52	25d	1	1.22mi
7420 Drexel St Dearborn Heights, MI	2.0	1.0	1080	$1,700	$1.57	44d	1	1.23mi
7420 Drexel St Dearborn Heights, MI	2.0	1.0	1080	$1,700	$1.57	18d	1	1.23mi
7420 Drexel St Dearborn Heights, MI	2.0	1.0	1080	$1,600	$1.48	5d	1	1.23mi
7435 Lathers St Westland, MI	3.0	1.0	1120	$1,900	$1.70	17d	1	1.23mi
27201 Canfield St W Dearborn Heights, MI	1.0–2.0	1.0–2.0	852	$1,499	$1.76	2d	22	1.24mi
8455 Robindale Ave Dearborn Heights, MI	3.0	1.0	1100	$1,750	$1.59	5d	1	1.25mi
7457 Harrison St Westland, MI	3.0	1.0	1120	$1,900	$1.70	2d	1	1.29mi
5927 Lathers St Garden City, MI	3.0	1.0	1000	$1,600	$1.60	2d	1	1.31mi
7484 Affeldt St Westland, MI	3.0	1.0	1120	$1,500	$1.34	25d	1	1.32mi
8187 Lenore St Dearborn Heights, MI	2.0	1.0	768	$1,550	$2.02	44d	1	1.38mi
23700 W Warren St Dearborn Heights, MI	1.0	1.0	900	$1,120	$1.24	44d	2	1.39mi

HOA detail

• Monthly dues: $750 · $9,000/yr
• Likely covers: watersnow removalpool

Listing history 6 events

1. 2026-06-02
   status $24,900 Pending 22 DOM
2. 2026-06-01
   days on market $24,900 Active 22 DOM

   Show marketing remark (905 chars)

   Welcome to this well-maintained 2-bedroom, 1 full bath home located in a desirable 55+ community. This property offers a bright and spacious open floor with all appliances included for a move-in-ready experience. Major updates include a newer water tank and custom shades that stay with the home. Enjoy outdoor living on the oversized patio that's in excellent condition. Additional storage provided by a private shed. HOA covers snow removal, along with access to a community clubhouse and heated pool. A solid, clean option in a community that offers both comfort and convenience. TV armoire will transfer with the home. Sale is contingent on buyer HOA approval, application is uploaded in docs or call listing agent. Square footage and room sizes are approximate, buyer to inspect and verify. Home is occupied, please give a minimum of 2 hours notice for appointments. No showings on Tuesday or Friday.

3. 2026-05-31
   days on market $24,900 Active 21 DOM
4. 2026-05-11
   listed $24,900 Active 905-char remark

   Show marketing remark (905 chars)

   Welcome to this well-maintained 2-bedroom, 1 full bath home located in a desirable 55+ community. This property offers a bright and spacious open floor with all appliances included for a move-in-ready experience. Major updates include a newer water tank and custom shades that stay with the home. Enjoy outdoor living on the oversized patio that's in excellent condition. Additional storage provided by a private shed. HOA covers snow removal, along with access to a community clubhouse and heated pool. A solid, clean option in a community that offers both comfort and convenience. TV armoire will transfer with the home. Sale is contingent on buyer HOA approval, application is uploaded in docs or call listing agent. Square footage and room sizes are approximate, buyer to inspect and verify. Home is occupied, please give a minimum of 2 hours notice for appointments. No showings on Tuesday or Friday.

5. 2026-05-11
   listed $24,900 Active 905-char remark

   Show marketing remark (905 chars)

   Welcome to this well-maintained 2-bedroom, 1 full bath home located in a desirable 55+ community. This property offers a bright and spacious open floor with all appliances included for a move-in-ready experience. Major updates include a newer water tank and custom shades that stay with the home. Enjoy outdoor living on the oversized patio that's in excellent condition. Additional storage provided by a private shed. HOA covers snow removal, along with access to a community clubhouse and heated pool. A solid, clean option in a community that offers both comfort and convenience. TV armoire will transfer with the home. Sale is contingent on buyer HOA approval, application is uploaded in docs or call listing agent. Square footage and room sizes are approximate, buyer to inspect and verify. Home is occupied, please give a minimum of 2 hours notice for appointments. No showings on Tuesday or Friday.

6. 2026-05-07
   historical $24,900 905-char remark

   Show marketing remark (905 chars)

   Welcome to this well-maintained 2-bedroom, 1 full bath home located in a desirable 55+ community. This property offers a bright and spacious open floor with all appliances included for a move-in-ready experience. Major updates include a newer water tank and custom shades that stay with the home. Enjoy outdoor living on the oversized patio that's in excellent condition. Additional storage provided by a private shed. HOA covers snow removal, along with access to a community clubhouse and heated pool. A solid, clean option in a community that offers both comfort and convenience. TV armoire will transfer with the home. Sale is contingent on buyer HOA approval, application is uploaded in docs or call listing agent. Square footage and room sizes are approximate, buyer to inspect and verify. Home is occupied, please give a minimum of 2 hours notice for appointments. No showings on Tuesday or Friday.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $17,124
• − Mortgage interest: −$1,395
• − Property taxes: −$374
• − Insurance: −$124
• − Repairs & maintenance: −$1,370
• − Management: −$1,370
• − HOA: −$9,000
• − Depreciation: −$724
• Taxable income: $2,767
• Est. tax owed @ 24.0%: −$664
• After-tax cash flow: $1,799/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: Crestwood School District
• NCES district ID: 2600016
• Math proficiency: 32% ▼ -6.00%
• Reading proficiency: 43% ▼ -4.00%
• Median HH income: $47,101
• Composite: 32.1/100
• National rank: #5806
• State rank: #242 of 540 in MI

Livability — Dearborn Heights

• Score: 79/100
• State rank: #82
• US rank: #1885

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Dearborn Heights, MI
• County: Wayne County · 1,562,939 people
• City population: 61,771
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 39,646
• Household income: $60,742
• Rent vs Own: 28.0% rent · 72.0% own
• Severe rent burden: 1196.0

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: Predominantly White (85%)
• Race & ethnicity: White 85% Black 8% Two or more races 3% Hispanic / Latino 3% Asian 2%
• Common ancestry: Arab 8% Romanian 7% Lithuanian 2%
• Foreign-born: 31% · Canada
• Languages at home: 46% English-only · Arabic 45% Russian/Polish/Slavic 2% Other Indo-European 2%

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: ▼ -319.04%
• Current HPI: 225.9407
• Rent YoY: ▲ 0.41%
• 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

5 events — show timeline

• 2026-06-01 Pending — REALCOMP
• 2026-06-01 Pending — MiRealSource-MiMLS
• 2026-05-11 Listed $24,900 REALCOMP
• 2026-05-11 Listed $24,900 MiRealSource-MiMLS
• 2026-05-07 Coming Soon $24,900 MiRealSource-MiMLS