Wayne County’s underwriting tension is a $452,217 Zillow median home value rising 2.33% year over year against a small, unevenly documented demand base. Buyers reliant on durable tenant demand or easy resale should be cautious; investigators should test property-specific rent, insurance, and buyer depth before treating the county price signal as supportable. Zillow’s value measure is not a closed-sale comp, and no FHFA repeat-transaction HPI observation is published to corroborate or challenge its direction.
Market rent is not published, so gross yield cannot be computed. HUD’s $973 two-bedroom FMR is a payment standard, not a market asking-rent estimate, and cannot fill that gap. The effective property-tax rate is 0.34%, with median annual tax of $1,394; these are carrying-cost inputs, but county medians do not establish a subject property’s assessment or tax bill. No MLS listing price, active inventory, days on market, or reduction-share evidence is published, preventing a current visible-supply or seller-concession read.
Annual QCEW workplace employment totals 1,275 covered jobs, up 3.49%, while average weekly covered-worker wage was $912, up 9.48%. These are workplace data, not resident employment or a forecast. Leisure and hospitality, the largest disclosed private supersector, represents 28.93% of total private covered jobs, warranting tenant-demand and seasonality checks. Migration was negative by 37 tax-return households, though incoming movers’ average income exceeded outgoing movers’ by $3,938; that does not reveal tenure or purchase demand. The investor-share measure is 10.53% across 19 purchases: some non-owner participation, but a thin count.
Inland flood is the dominant hazard, and modeled climate loss equals 0.12% of building value per year; this county-level model is not an insurance quote or property flood determination. Absent market rent, sales comps, MLS liquidity measures, FHFA appreciation, vacancy, insurance, and property-level flood-zone data, the record cannot establish yield, exit liquidity, or all-in risk. Next checks are subject-unit asking rents and leases, tax assessment and insurance terms, flood maps and mitigation history, and transaction-level buyer and sale evidence.