Wayne County’s underwriting tension is a sharp Zillow value move versus much slower repeat-sale appreciation, with no market-rent anchor to test purchase economics. Zillow’s $156,909 county median home value in 2026-06 was up 13.63% year over year, while FHFA’s 2025 annual repeat-transaction HPI rose 2.05%. These are different vintages and methods, not a blended growth measure. Investors reliant on current cash flow or resale assumptions should investigate rather than extrapolate either series.
Measured asking rent is not published, so gross yield cannot be computed. HUD’s two-bedroom FMR is a payment standard, not evidence of asking rent and cannot supply missing yield. The effective property-tax rate is 0.63%; it is a carrying-cost input but does not establish tax on a given parcel. Without rent, price-to-rent and tax-inclusive cash flow remain untested. Realtor.com is MLS listing-market evidence: it records seller asks, visible supply and marketing time, not closed transactions or value.
In the Realtor.com read, 24 active MLS listings had a 50-day median marketing time; 4.76% carried price reductions and pending listings equaled 27.08% of active listings. This is visible listing-market evidence, not proof of buyer demand. Tax-return migration showed a net loss of 60 households, and departing movers’ average AGI exceeded arrivals’ by $1,215, warranting checks on tenant and buyer depth. Investor mortgages were 4 of 119 purchases, or 3.36%, limiting observed non-owner competition but not capturing cash buyers. The annual QCEW record indicates gains in workplace-based covered employment and wages; its largest disclosed private supersector is Trade, transportation, and utilities, not the entire economy.
Inland flood is the dominant hazard, and modeled expected annual climate loss is 0.25% of building value; this model is a risk screen, not a parcel loss estimate. Flood-zone status, insurance availability and cost, elevation, and prior-loss history are absent, preventing property-level hazard pricing. Missing market-rent comps, lease terms, vacancy, operating expenses, financing, and transaction-level sales also prevent a defensible income return, expense load, or exit-price conclusion. Verify parcel taxes, flood coverage, and rent comps before treating county indicators as asset economics.