57483 Sawmill Ln · Lenox, MI 48048

$105,000

3 bd · 2.0 ba · 1,800 sqft · Condo · 157 Days on market

Built 2001 Average condition $58/sqft · 66% below area $548/mo HOA · 33% of rent ↓ 5% since listing

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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 +15.4/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +4.7/10.0
• Schools +4.4/10.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Perfect blend of comfort and style in this stunning 3-bedroom, 2-bathroom home. Step inside to unveil a spacious master suite complete with a luxurious bathroom featuring a spa-like tub and a stand-up shower, perfect for unwinding after a long day. The two additional bedrooms are thoughtfully positioned near the second full bathroom, ensuring convenience for family or guests. Luxury wood & vinyl plank flooring flows seamlessly throughout the home, enhancing its modern appeal, while essential updates like a new furnace, AC, and hot water tank provide peace of mind. Nestled on an expansive yard, this property boasts beautiful landscaping with two majestic trees and a charming patio, ideal for outdoor gatherings or serene mornings. Plus, a generously-sized wood shed equipped with power adding versatility for your projects and storage needs. Enjoy the perks of a vibrant community, complete with a gym and pool at the nearby community center, and take advantage of the abundant shopping options just minutes away. This home is not just a place to live; it's a lifestyle waiting for you to embrace. Come see it today and envision your future in this delightful space!

Key facts

• Master suite
• Stand-up shower
• New furnace

Tags

• MASTER SUITE
• LUXURIOUS BATHROOM
• SPA-LIKE TUB
• STAND-UP SHOWER
• LUXURY VINYL PLANK FLOORING
• NEW FURNACE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath condo listed at $105k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $40 ($485/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Anchor Bay School District (suburban): math 44% / reading 54% proficiency, ranked #91 of 540 in MI (top 17%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: 101 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,321 units permitted in Macomb County in 2024 (86 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Macomb County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 157 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 3 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 33% of rent.

Recommended offer $92,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 157 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.58% ✓
• Cap rate: 6.76%
• Cash-on-cash: 1.65%
• DSCR: 1.07
• GRM: 5.3

CMA / ARV

• ARV (median comp): $306,230
• List price: $105,000
• Delta: -65.71%
• Verdict: UNDERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -13.3%
• Equity multiple: 0.52×
• Total profit: $-14,076
• Equity at exit: $15,656

10-year hold

• IRR: -3.8%
• Equity multiple: 0.75×
• Total profit: $-7,469
• Equity at exit: $9,078

Cash invested: $29,400 (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 48048

• Active inventory: 101
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,663 medium
• Mortgage (P&I): −$551
• Tax est. 1.5%: −$131 /mo · $1,575/yr
• Insurance: −$44
• HOA: −$548
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $40

Break-even live

Break-even rent $1,612

Max offer price $105,000

Occupancy floor 93%

Sensitivity live

Price	-10% $113	-5% $77	+0% $40	+5% $4	+10% $-32
Rent	-10% $-91	-5% $-25	+0% $40	+5% $106	+10% $172
Rate	-1.0pp $93	-0.5pp $67	base $40	+0.5pp $13	+1.0pp $-14

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
37781 Sandstone Trl New Haven, MI	3.0	2.0	1624	$1,674	$1.03	0d	1	0.28mi
5407 Aloha Ln Casco, MI	2.0–3.0	2.0–3.0	1152	$1,599	$1.39	0d	1	1.19mi

HOA detail condo

• Monthly dues: $548 · $6,576/yr
• Likely covers: waterlandscapingpoolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-18
   days on market $105,000 Active 157 DOM
2. 2026-06-17
   days on market $105,000 Active 156 DOM
3. 2026-06-16
   days on market $105,000 Active 155 DOM
4. 2026-06-15
   days on market $105,000 Active 154 DOM
5. 2026-06-13
   days on market $105,000 Active 152 DOM
6. 2026-06-09
   days on market $105,000 Active 148 DOM
7. 2026-06-08
   days on market $105,000 Active 147 DOM
8. 2026-06-07
   days on market $105,000 Active 146 DOM
9. 2026-06-04
   days on market $105,000 Active 143 DOM
10. 2026-06-03
    days on market $105,000 Active 142 DOM
11. 2026-06-02
    days on market $105,000 Active 141 DOM
12. 2026-06-01
    days on market $105,000 Active 140 DOM
13. 2026-05-31
    days on market $105,000 Active 139 DOM
14. 2026-03-13
    price $105,000 1180-char remark

    Show marketing remark (1186 chars)

    Perfect blend of comfort and style in this stunning 3-bedroom, 2-bathroom home. Step inside to unveil a spacious master suite complete with a luxurious bathroom featuring a spa-like tub and a stand-up shower, perfect for unwinding after a long day. The two additional bedrooms are thoughtfully positioned near the second full bathroom, ensuring convenience for family or guests. Luxury wood & vinyl plank flooring flows seamlessly throughout the home, enhancing its modern appeal, while essential updates like a new furnace, AC, and hot water tank provide peace of mind. Nestled on an expansive yard, this property boasts beautiful landscaping with two majestic trees and a charming patio, ideal for outdoor gatherings or serene mornings. Plus, a generously-sized wood shed equipped with power adding versatility for your projects and storage needs. Enjoy the perks of a vibrant community, complete with a gym and pool at the nearby community center, and take advantage of the abundant shopping options just minutes away. This home is not just a place to live; it’s a lifestyle waiting for you to embrace. Come see it today and envision your future in this delightful space!

15. 2026-03-13
    price $105,000 1186-char remark

    Show marketing remark (1186 chars)

    Perfect blend of comfort and style in this stunning 3-bedroom, 2-bathroom home. Step inside to unveil a spacious master suite complete with a luxurious bathroom featuring a spa-like tub and a stand-up shower, perfect for unwinding after a long day. The two additional bedrooms are thoughtfully positioned near the second full bathroom, ensuring convenience for family or guests. Luxury wood & vinyl plank flooring flows seamlessly throughout the home, enhancing its modern appeal, while essential updates like a new furnace, AC, and hot water tank provide peace of mind. Nestled on an expansive yard, this property boasts beautiful landscaping with two majestic trees and a charming patio, ideal for outdoor gatherings or serene mornings. Plus, a generously-sized wood shed equipped with power adding versatility for your projects and storage needs. Enjoy the perks of a vibrant community, complete with a gym and pool at the nearby community center, and take advantage of the abundant shopping options just minutes away. This home is not just a place to live; it’s a lifestyle waiting for you to embrace. Come see it today and envision your future in this delightful space!

16. 2026-01-13
    listed $110,000 Active 1180-char remark

    Show marketing remark (1186 chars)

    Perfect blend of comfort and style in this stunning 3-bedroom, 2-bathroom home. Step inside to unveil a spacious master suite complete with a luxurious bathroom featuring a spa-like tub and a stand-up shower, perfect for unwinding after a long day. The two additional bedrooms are thoughtfully positioned near the second full bathroom, ensuring convenience for family or guests. Luxury wood & vinyl plank flooring flows seamlessly throughout the home, enhancing its modern appeal, while essential updates like a new furnace, AC, and hot water tank provide peace of mind. Nestled on an expansive yard, this property boasts beautiful landscaping with two majestic trees and a charming patio, ideal for outdoor gatherings or serene mornings. Plus, a generously-sized wood shed equipped with power adding versatility for your projects and storage needs. Enjoy the perks of a vibrant community, complete with a gym and pool at the nearby community center, and take advantage of the abundant shopping options just minutes away. This home is not just a place to live; it’s a lifestyle waiting for you to embrace. Come see it today and envision your future in this delightful space!

17. 2026-01-13
    listed $110,000 Active

    Show marketing remark (1186 chars)

    Perfect blend of comfort and style in this stunning 3-bedroom, 2-bathroom home. Step inside to unveil a spacious master suite complete with a luxurious bathroom featuring a spa-like tub and a stand-up shower, perfect for unwinding after a long day. The two additional bedrooms are thoughtfully positioned near the second full bathroom, ensuring convenience for family or guests. Luxury wood & vinyl plank flooring flows seamlessly throughout the home, enhancing its modern appeal, while essential updates like a new furnace, AC, and hot water tank provide peace of mind. Nestled on an expansive yard, this property boasts beautiful landscaping with two majestic trees and a charming patio, ideal for outdoor gatherings or serene mornings. Plus, a generously-sized wood shed equipped with power adding versatility for your projects and storage needs. Enjoy the perks of a vibrant community, complete with a gym and pool at the nearby community center, and take advantage of the abundant shopping options just minutes away. This home is not just a place to live; it’s a lifestyle waiting for you to embrace. Come see it today and envision your future in this delightful space!

18. 2026-01-13
    listed $110,000 Active 1186-char remark

    Show marketing remark (1186 chars)

    Perfect blend of comfort and style in this stunning 3-bedroom, 2-bathroom home. Step inside to unveil a spacious master suite complete with a luxurious bathroom featuring a spa-like tub and a stand-up shower, perfect for unwinding after a long day. The two additional bedrooms are thoughtfully positioned near the second full bathroom, ensuring convenience for family or guests. Luxury wood & vinyl plank flooring flows seamlessly throughout the home, enhancing its modern appeal, while essential updates like a new furnace, AC, and hot water tank provide peace of mind. Nestled on an expansive yard, this property boasts beautiful landscaping with two majestic trees and a charming patio, ideal for outdoor gatherings or serene mornings. Plus, a generously-sized wood shed equipped with power adding versatility for your projects and storage needs. Enjoy the perks of a vibrant community, complete with a gym and pool at the nearby community center, and take advantage of the abundant shopping options just minutes away. This home is not just a place to live; it’s a lifestyle waiting for you to embrace. Come see it today and envision your future in this delightful space!

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

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 ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,961
• − Mortgage interest: −$5,882
• − Property taxes: −$1,575
• − Insurance: −$525
• − Repairs & maintenance: −$1,597
• − Management: −$1,597
• − HOA: −$6,576
• − Depreciation: −$3,055
• Taxable loss: −$845
• Est. tax savings @ 24.0%: +$203
• After-tax cash flow: $688/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.

Condition & rehab AI · 12 photos

Average 55/100 Moderate rehab

This home requires moderate repairs and updates to enhance its curb appeal and interior appearance, making it a good investment for a potential buyer or renter.

Repairs flagged

• Minor exterior siding — slight wear
• Minor interior paint — slight discoloration

Value-add opportunities

• Resale paint exterior siding — enhances curb appeal
• Resale paint interior walls — enhances interior appearance
• Both update flooring — modernizes the home and improves functionality
• Both update kitchen cabinets — modernizes the home and improves functionality
• Both update bathrooms — modernizes the home and improves functionality

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · slight wear	Minor	$500–3,000
interior paint · slight discoloration	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Resale paint exterior siding — enhances curb appeal ↑
• Resale paint interior walls — enhances interior appearance ↑
• Both update flooring — modernizes the home and improves functionality ↑
• Both update kitchen cabinets — modernizes the home and improves functionality ↑
• Both update bathrooms — modernizes the home and improves functionality ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Anchor Bay School District
• NCES district ID: 2602790
• Math proficiency: 44% ▼ -12.00%
• Reading proficiency: 54% ▼ -7.00%
• Median HH income: $70,173
• Composite: 43.85/100
• National rank: #2925
• State rank: #91 of 540 in MI

Livability — Lenox

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Population (ZIP): 11,065

Population outlook (Macomb County) Hauer SSP2

• Today (2025): 925,296 people
• By 2030: 948,226 · +2.5%
• By 2040: 983,961 · +6.3%
• By 2050: 1,010,200 · +9.2%
• By 2075: 1,076,222 · +16.3%
• By 2100: 1,077,065 · +16.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (73%)
• Race & ethnicity: White 73% Black 13% Two or more races 10% Hispanic / Latino 4%
• Common ancestry: Romanian 10% Italian 7% Lithuanian 3%
• Foreign-born: 1% · Canada
• Languages at home: 97% English-only · Spanish 1% Russian/Polish/Slavic 1%

Political lean MEDSL · Macomb

• 2024 margin: R (+13.7) · D 42.2% · R 55.9% · Other 1.9%
• 2008→2024 swing: -22.3pp toward R · 2008: 8.6pp · 2024: -13.7pp
• All cycles: 2024: R+13.7 2020: R+8.1 2016: R+11.6 2012: D+4.0 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -147.74%
• Current HPI: 242.3675
• Rent YoY: —
• Metro: —
• 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

-4.5% since first listed

5 events — show timeline

• 2026-03-13 Price Changed $105,000 MiRealSource-MiMLS
• 2026-03-13 Price Changed $105,000 REALCOMP
• 2026-01-13 Listed $110,000 MiRealSource-MiMLS
• 2026-01-13 Listed $110,000 MiRealSource-MiMLS
• 2026-01-13 Listed $110,000 REALCOMP