22927 Lakeshore Dr · St. Clair Shores, MI 48080

$175,000

3 bd · 1.5 ba · 1,400 sqft · Condo · 31 Days on market

Built 1948 Good condition $125/sqft · at area comps Est $172k · at est. $319/mo HOA · 17% 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 +13.1/30.0
• ARV discount +6.7/15.0
• 1% rule +6.0/10.0
• DSCR +3.9/10.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully maintained 3-bedroom, 1.5-bath condo in the desirable Lakeshore Village community! This inviting home features an updated kitchen with modern finishes, perfect for both everyday living and entertaining. Warm wood floors flow throughout the main living areas, adding charm and durability. Enjoy the extra space of a full basement - ideal for storage, a home gym, or additional living space. All appliances are included, making this home truly move-in ready. Step outside and take advantage of the community amenities, including a refreshing pool perfect for relaxing on warm days. With its combination of comfort, style, and convenience, this condo is a fantastic opportunity to enjoy low maintenance living in a great location. Don't miss your chance to make this wonderful home yours!

Key facts

• $319 HOA
• Community pool
• Built 1948

Property features AI

Finance

• Other: Directions: Right off of Jefferson, first right into the parking lot; enter through the rear door
• Financial info: Annual tax information not included per instructions
• HOA & community: Homeowners association with a monthly fee of $319; HOA covers grounds and structure maintenance, snow removal, trash, and water; Community pool

Exterior

• Parking: No garage
• Security: No security details provided
• Utilities: Public water; Public sewer
• Home design: Condominium; Two levels; Residential property; Entry on ground level
• Construction: Brick and vinyl siding exterior
• Exterior features: Community in-ground outdoor pool; Paved road access; Pets allowed

Interior

• Kitchen: No appliance details provided
• Bedrooms: Total of 6 rooms (includes bedrooms and living spaces)
• Flooring: No flooring details provided
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air; Ceiling fans; Forced air heating; Natural gas heating
• Interior features: Partially finished basement; Ground-level entry
• Laundry & utility: No laundry details provided

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $175k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-7 ($-86/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (0.6% below list).
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $170k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.2% vs local median 4.0% in St. Clair Shores — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• South Lake Schools (suburban): math 11% / reading 26% proficiency, ranked #470 of 540 in MI (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Elmwood Elementary School (math 18% / reading 29%, grade F, #1,032 of 1,397 statewide, top 74%, 345 students, 61% FRL); South Lake Middle School (math 7% / reading 23%, grade F, #451 of 493 statewide, top 92%, 299 students, 66% FRL); South Lake High School (math 2% / reading 27%, grade F, #640 of 713 statewide, top 91%, 516 students, 61% FRL).
• Market conditions: 167 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 1,321 units permitted in Macomb County in 2024 (86 in 5+ unit buildings).
• This rent runs 34% of the median local income ($67k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 31 days — a 3% lower offer ($170k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 20y ago 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.
• Current owner paid $126k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $169,750 (3.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 1.10% ✓
• Cap rate: 6.24%
• Cash-on-cash: -0.18%
• DSCR: 0.99
• GRM: 7.6

CMA / ARV

• ARV (median comp): $171,773
• List price: $175,000
• Delta: 1.88%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -16.4%
• Equity multiple: 0.42×
• Total profit: $-28,590
• Equity at exit: $26,093

10-year hold

• IRR: -7.9%
• Equity multiple: 0.50×
• Total profit: $-24,569
• Equity at exit: $15,131

Cash invested: $49,000 (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 48080

• Active inventory: 167
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,926 high
• Mortgage (P&I): −$918
• Tax est. 1.5%: −$219 /mo · $2,625/yr
• Insurance: −$73
• HOA: −$319
• Vacancy / Maint / Mgmt: −$404
• Net cashflow: $-7

Break-even live

Break-even rent $1,935

Max offer price $173,961

Occupancy floor 95%

Sensitivity live

Price	-10% $114	-5% $53	+0% $-7	+5% $-68	+10% $-128
Rent	-10% $-159	-5% $-83	+0% $-7	+5% $69	+10% $145
Rate	-1.0pp $81	-0.5pp $37	base $-7	+0.5pp $-53	+1.0pp $-99

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24000 Jefferson Ave Unit 218 St Clair Shores, MI	2.0	2.0	1000	$1,800	$1.80	45d	1	0.68mi
218 Riviera Dr St Clair Shores, MI	2.0	2.0	1000	$1,800	$1.80	45d	1	0.68mi
22617 Oconnor St Saint Clair Shores, MI	3.0	1.0	923	$2,000	$2.17	0d	1	0.75mi
22615 Maxine St Saint Clair Shores, MI	3.0	1.0	950	$1,495	$1.57	0d	1	0.80mi
22411 Oconnor St Saint Clair Shores, MI	2.0	1.0	950	$1,250	$1.32	45d	1	0.89mi
401 Northshore Dr St Clair Shores, MI	2.0	1.0–1.5	970	$1,554	$1.60	0d	4	0.97mi
22126 Alger St Saint Clair Shores, MI	2.0	1.5	1060	$1,750	$1.65	12d	1	1.15mi
1150 Anita Ave Grosse Pointe Woods, MI	3.0	1.5	1829	$2,600	$1.42	45d	1	1.28mi
1150 Anita Ave Grosse Pointe Woods, MI	3.0	1.5	1129	$2,600	$2.30	12d	1	1.28mi
21727 California St Saint Clair Shores, MI	3.0	2.0	1368	$1,925	$1.41	0d	1	1.33mi
22464 Beach St Saint Clair Shores, MI	2.0	1.5	1316	$2,300	$1.75	0d	1	1.38mi

HOA detail condo

• Monthly dues: $319 · $3,828/yr
• Likely covers: poolgym
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-08
   status $175,000 Pending 31 DOM

   Show marketing remark (813 chars)

   Welcome to this beautifully maintained 3-bedroom, 1.5-bath condo in the desirable Lakeshore Village community! This inviting home features an updated kitchen with modern finishes, perfect for both everyday living and entertaining. Warm wood floors flow throughout the main living areas, adding charm and durability. Enjoy the extra space of a full basement - ideal for storage, a home gym, or additional living space. All appliances are included, making this home truly move-in ready. Step outside and take advantage of the community amenities, including a refreshing pool perfect for relaxing on warm days. With its combination of comfort, style, and convenience, this condo is a fantastic opportunity to enjoy low maintenance living in a great location. Don't miss your chance to make this wonderful home yours!

2. 2026-06-07
   days on market $175,000 Active Under Contract 31 DOM
3. 2026-06-04
   days on market $175,000 Active Under Contract 28 DOM
4. 2026-06-03
   days on market $175,000 Active Under Contract 27 DOM
5. 2026-06-02
   days on market $175,000 Active Under Contract 26 DOM
6. 2026-06-01
   days on market $175,000 Active Under Contract 25 DOM
7. 2026-05-31
   statusdays on market $175,000 Active Under Contract 24 DOM
8. 2026-05-08
   listed $175,000 Active 813-char remark

   Show marketing remark (813 chars)

   Welcome to this beautifully maintained 3-bedroom, 1.5-bath condo in the desirable Lakeshore Village community! This inviting home features an updated kitchen with modern finishes, perfect for both everyday living and entertaining. Warm wood floors flow throughout the main living areas, adding charm and durability. Enjoy the extra space of a full basement - ideal for storage, a home gym, or additional living space. All appliances are included, making this home truly move-in ready. Step outside and take advantage of the community amenities, including a refreshing pool perfect for relaxing on warm days. With its combination of comfort, style, and convenience, this condo is a fantastic opportunity to enjoy low maintenance living in a great location. Don't miss your chance to make this wonderful home yours!

9. 2026-05-08
   listed $175,000 Active 823-char remark

   Show marketing remark (813 chars)

   Welcome to this beautifully maintained 3-bedroom, 1.5-bath condo in the desirable Lakeshore Village community! This inviting home features an updated kitchen with modern finishes, perfect for both everyday living and entertaining. Warm wood floors flow throughout the main living areas, adding charm and durability. Enjoy the extra space of a full basement - ideal for storage, a home gym, or additional living space. All appliances are included, making this home truly move-in ready. Step outside and take advantage of the community amenities, including a refreshing pool perfect for relaxing on warm days. With its combination of comfort, style, and convenience, this condo is a fantastic opportunity to enjoy low maintenance living in a great location. Don't miss your chance to make this wonderful home yours!

10. 2026-05-06
    historical $175,000 813-char remark

    Show marketing remark (813 chars)

    Welcome to this beautifully maintained 3-bedroom, 1.5-bath condo in the desirable Lakeshore Village community! This inviting home features an updated kitchen with modern finishes, perfect for both everyday living and entertaining. Warm wood floors flow throughout the main living areas, adding charm and durability. Enjoy the extra space of a full basement - ideal for storage, a home gym, or additional living space. All appliances are included, making this home truly move-in ready. Step outside and take advantage of the community amenities, including a refreshing pool perfect for relaxing on warm days. With its combination of comfort, style, and convenience, this condo is a fantastic opportunity to enjoy low maintenance living in a great location. Don't miss your chance to make this wonderful home yours!

11. 2025-10-15
    historical
12. 2025-10-03
    listed $189,900 Active
13. 2025-10-03
    listed $189,900 Active
14. 2025-09-30
    historical
15. 2020-10-06
    soldstatus $126,000 Sold
16. 2020-10-06
    soldstatus $126,000 Closed
17. 2020-08-19
    historical Accepting Backup Offers
18. 2020-08-19
    historical Accepting Backup Offers
19. 2020-08-14
    listed $124,900 Active
20. 2020-08-14
    listed $124,900 Active
21. 2007-12-05
    soldstatus $104,640
22. 2007-11-14
    historical
23. 2007-01-25
    listed $112,000
24. 2006-08-10
    historical
25. 2006-01-01
    listed $88,500

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 67% chance over 30 yrs
• 🔥 Wildfire 1/10 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,107
• − Mortgage interest: −$9,803
• − Property taxes: −$2,625
• − Insurance: −$875
• − Repairs & maintenance: −$1,849
• − Management: −$1,849
• − HOA: −$3,828
• − Depreciation: −$5,091
• Taxable loss: −$2,812
• Est. tax savings @ 24.0%: +$675
• After-tax cash flow: $589/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 · 13 photos

Good 75/100 Cosmetic rehab

This well-maintained 3-bedroom, 1.5-bath condo in Lakeshore Village is move-in ready with an updated kitchen and warm wood floors. The exterior and landscaping are in good condition, making it an attractive option for both resale and rental.

Value-add opportunities

• Resale Paint exterior — Enhances curb appeal and can increase property value
• Rental Landscaping — Well-maintained landscaping can attract tenants and increase rental value

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior — Enhances curb appeal and can increase property value ↑
• Rental Landscaping — Well-maintained landscaping can attract tenants and increase rental value ↑

ⓘ 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: South Lake Schools
• NCES district ID: 2632220
• Math proficiency: 11% ▼ -10.00%
• Reading proficiency: 26% ▼ -12.00%
• Median HH income: $51,594
• Composite: 16.76/100
• National rank: #9159
• State rank: #470 of 540 in MI

Livability — St. Clair Shores

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

Census & demographics

• Census place: St. Clair Shores, MI
• County: Macomb County · 638,552 people
• City population: 58,217
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 21,561
• Household income: $66,986
• Rent vs Own: 21.5% rent · 78.5% own
• Severe rent burden: 530.0

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 (83%)
• Race & ethnicity: White 83% Black 8% Two or more races 6% Hispanic / Latino 4% Asian 2%
• Common ancestry: Romanian 14% Lithuanian 5% Slovak 2%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 92% English-only · Other Indo-European 3% Spanish 2% 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: ▼ -236.99%
• Current HPI: 231.507
• Rent YoY: —
• 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

+97.7% since first listed

22 events — show timeline

• 2026-06-08 Pending — MiRealSource-MiMLS
• 2026-06-08 Pending — REALCOMP
• 2026-05-30 Contingent — MiRealSource-MiMLS
• 2026-05-30 Contingent — REALCOMP
• 2026-05-08 Listed $175,000 MiRealSource-MiMLS
• 2026-05-08 Listed $175,000 REALCOMP
• 2026-05-06 Coming Soon $175,000 MiRealSource-MiMLS
• 2025-10-15 Listing Removed — MiRealSource-MiMLS
• 2025-10-03 Listed $189,900 MiRealSource-MiMLS
• 2025-10-03 Listed $189,900 REALCOMP
• 2025-09-30 Coming Soon — MiRealSource-MiMLS
• 2020-10-06 Sold (MLS) $126,000 MiRealSource-MiMLS
• 2020-10-06 Sold (MLS) $126,000 REALCOMP
• 2020-08-19 Contingent — MiRealSource-MiMLS
• 2020-08-19 Contingent — REALCOMP
• 2020-08-14 Listed $124,900 MiRealSource-MiMLS
• 2020-08-14 Listed $124,900 REALCOMP
• 2007-12-05 Sold (MLS) $104,640 MiRealSource-MiMLS
• 2007-11-14 Listing Removed — MiRealSource-MiMLS
• 2007-01-25 Listed $112,000 MiRealSource-MiMLS
• 2006-08-10 Listing Removed — MiRealSource-MiMLS
• 2006-01-01 Listed $88,500 MiRealSource-MiMLS