Score
0Wayne, MI
32279 Carlisle Pkwy
165K
3 beds
1 baths
1,062 sqft
3 bd • 1 ba • 1,062 sf
This analysis was generated on 1/24/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.
List Price
$164,900
Price/Sq.Ft
$155
Year Built
1943
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
This 1943 bungalow at 32279 Carlisle Pkwy, Wayne, MI offers significant value at $155.27/sqft, which is approximately 25% below the Wayne average of $207/sqft for similar properties. Recent updates include new vinyl siding, a new roof, newer vinyl windows, and kitchen upgrades (white Shaker cabinets, laminate counters, ceramic backsplash), adding an estimated $20,000-$25,000 in value. The property boasts a full basement with potential for additional living space, increasing its functional square footage beyond the listed 1,062 sqft. Climate risk is exceptionally low, with minimal flood (1/10) and fire (1/10) risks, potentially reducing insurance costs by 15-20% compared to higher-risk properties in the area. The extra deep carport, patio, and shed provide valuable outdoor amenities, estimated at $5,000-$7,000 in added value.
The Bad
The property's location near lower-rated schools (Taft-Galloway Elementary: 1/10, Benjamin Franklin Middle: 2/10) may impact long-term appreciation, typically reducing values by 5-10% compared to homes in top-rated districts. At 1,062 sqft, it's approximately 15% smaller than the Wayne average of 1,250 sqft for 3-bedroom homes. The single bathroom layout is less desirable for modern families, potentially limiting the buyer pool. The basement waterproofing lacks documentation, which could lead to $5,000-$10,000 in future costs if issues arise. The property's rapid price increase (69.6% since March 2023) may indicate an overheated market or potential overvaluation, risking future price corrections.
The Ugly
The property's volatile price history (multiple significant increases and decreases since 2003) suggests potential market instability or past condition issues, which could impact future resale value. The median income in Wayne ($47,856) is significantly lower than the estimated income needed to comfortably afford this home ($55,000-$60,000 based on traditional lending standards), potentially limiting the local buyer pool. The unfinished basement walls, while drywalled, require completion, adding an estimated $3,000-$5,000 in immediate costs. The home's age (built 1943) suggests potential hidden issues with plumbing, electrical, or structural elements not addressed in recent updates, possibly leading to $10,000-$20,000 in major system replacements within 5-10 years.
Who is this property for?
These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.
Best For
This property is best suited for first-time homebuyers or small families with household incomes of $55,000-$70,000, who prioritize affordability over school quality. It's ideal for DIY enthusiasts willing to finish the basement, potentially adding 400-500 sqft of living space. Investors looking for rental properties could benefit from the low purchase price, with potential rents of $1,400-$1,600/month based on local 3-bedroom rates, yielding a gross rental yield of 10-11.6%. The property suits those who value low climate risks and updated features over space, making it perfect for downsizers or young professionals working remotely.
Not For
Not suitable for larger families needing multiple bathrooms or more than 1,100 sqft of immediate living space. The property doesn't fit buyers prioritizing top-rated schools, as local options score below average. Not ideal for those seeking move-in ready homes without any projects, due to the unfinished basement. The rapid recent price increase and volatile history make it unsuitable for risk-averse investors or those looking for stable, predictable appreciation. Not recommended for buyers at the top of their budget, as the older systems may require unexpected maintenance costs.
Demographics
Area Median Income
$47,856
Property History
Price History
Ownership Timeline
$97,209Financed
Mar 17, 2023Homes In Wayne Llc, Leonard BaleFatai Adeola Afolabi, Naimat Iyabo Afolabi
Warranty Deed
Standard Sale (Purchase/Resales)
$0Cash Purchase
Jun 15, 2018Steven Bale, Home In Wayne LlcFatai Adeola Afolabi, Naimat Iyabo Afolabi
Land Contract
Non-Arm's Length Transactions
$61,000Cash Purchase
May 1, 2018Edward KobvacichHomes In Wayne Llc
Warranty Deed
Non-Residential Arm's Length Transactions
$32,000Cash Purchase
Feb 17, 2015Secretary Of Housing & Urban DevelopmentEdward Kovacich
Deed
Standard Sale (Purchase/Resales)
$0Cash Purchase
Feb 13, 2014Bank Of America NaThe Secretary Of Housing & Urban Develop
Warranty Deed
Non-Arm's Length Transactions
$24,750Cash Purchase
Jan 9, 2014Tyler W Saunders, Kathleen A SaundersBank Of America Na
Sheriffs Deed
Foreclosure
$118,000Cash Purchase
Oct 23, 2003Brian Shephard, Joanne ShephardTyler W Saunders, Kathleen A Saunders
Warranty Deed
Standard Sale (Purchase/Resales)
$94,500Cash Purchase
Jul 1, 2003Carole F Barnett Stopper, Kathleen Ann BarnettBrian Shephard
Warranty Deed
Standard Sale (Purchase/Resales)
$0Cash Purchase
Apr 18, 2000Kathleen A BarnettKathleen B Barnett
Deed
Standard Sale (Purchase/Resales)
Property Taxes
$0
2024 Tax Assessment
Assessed Value$51,300
Tax Rate0.00%
Sunlight Analysis
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Sunlight Analysis
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Schools
Nearby school quality by education level
Middle
3.0/10
Below AverageFinancials
Monthly Costs
Market Rent (3 bed)
Get a detailed estimate on Zillow$845
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$164,900
Price/sqft
$155
Layout
3 bd•1 ba
Days on market
44 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$95,883
72.0%
Your price is 72.0% above average
Median Price
$150,000
9.9%
Based on 6 recent sales
Price per Sq.Ft
$90
72.5%
Your price is 72.5% above average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 33056 Alanson , Westland, MI 48186 | $1,500 | 1,050 | 3 | 1 | $199.1% | 11/15/2024 |
| 34252 GLOVER Street, Wayne, MI 48184 | $112,400 | 1,022 | 3 | 1 | $11029.2% | 11/15/2024 |
| 4348 ADAMS Circle, Wayne, MI 48184 | $1,400 | 972 | 3 | 1 | $199.1% | 11/20/2024 |
| 5049 Winifred Street, Wayne, MI 48184 | $155,000 | 1,042 | 3 | 1 | $1494.2% | 10/18/2024 |
| 4270 WINIFRED Street, Wayne, MI 48184 | $150,000 | 1,089 | 3 | 1 | $13811.3% | 10/10/2024 |
| 4044 GLORIA Street, Wayne, MI 48184 | $155,000 | 1,086 | 4 | 1 | $1438.1% | 10/7/2024 |
33056 Alanson , Westland, MI 48186
Price: $1,500
Sq.Ft: 1,050
Beds/Baths: 3/1
$/Sq.Ft:
$199.1%
Sale Date: 11/15/2024
34252 GLOVER Street, Wayne, MI 48184
Price: $112,400
Sq.Ft: 1,022
Beds/Baths: 3/1
$/Sq.Ft:
$11029.2%
Sale Date: 11/15/2024
4348 ADAMS Circle, Wayne, MI 48184
Price: $1,400
Sq.Ft: 972
Beds/Baths: 3/1
$/Sq.Ft:
$199.1%
Sale Date: 11/20/2024
5049 Winifred Street, Wayne, MI 48184
Price: $155,000
Sq.Ft: 1,042
Beds/Baths: 3/1
$/Sq.Ft:
$1494.2%
Sale Date: 10/18/2024
4270 WINIFRED Street, Wayne, MI 48184
Price: $150,000
Sq.Ft: 1,089
Beds/Baths: 3/1
$/Sq.Ft:
$13811.3%
Sale Date: 10/10/2024
4044 GLORIA Street, Wayne, MI 48184
Price: $155,000
Sq.Ft: 1,086
Beds/Baths: 4/1
$/Sq.Ft:
$1438.1%
Sale Date: 10/7/2024
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