1754 Fort St · Trenton, MI 48183 2008

$115,000

2 bd · 2.0 ba · 990 sqft · Condo · 1 Days on market

Built 1969 $300/mo HOA · 18% of rent

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Why this score? — see what drove the B- 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 +23.2/30.0
• 1% rule +9.3/10.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• Appreciation +5.0/10.0
• Livability +4.4/5.0
• Schools +4.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Clean and comfortable 2 bedroom, 2 bathroom condo located in Trenton. This condo offers a functional layout, spacious living area, and the convenience of two full bathrooms. Enjoy a beautiful pool area and low-maintenance condo living in a great location close to shopping, dining, parks, and major roads.

Key facts

• Pool area
• $300 HOA
• Pool

Tags

• POOL AREA
• LOW MAINTENANCE CONDO LIVING

Property features AI

Finance

• Other: Pets allowed: cats and dogs
• Financial info: Has lease
• HOA & community: Monthly association fee of $300; Association fee includes lawn maintenance; Association phone available

Exterior

• Parking: Carport
• Utilities: Public water
• Home design: Condominium; Condo/apartment on 2nd floor or above; Built in 1969
• Construction: Basement foundation
• Exterior features: Brick exterior; Exterior balcony; Inground pool; Paved street

Interior

• Kitchen: Range/Oven; Refrigerator; Kitchen on entry level (8 x 7); Dining room on entry level (13 x 9)
• Bedrooms: Bedroom 1 on entry level (12 x 12); Bedroom 2 on entry level (12 x 10)
• Bathrooms: 2 full bathrooms; Bathroom 1 on entry level (7 x 5); Bathroom 2 on entry level (7 x 6)
• Heating & cooling: Forced air heating; Central A/C; Natural gas heating fuel
• Interior features: 7 total rooms; Unfinished basement
• Laundry & utility: Basement present (utility space likely in basement)

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $209 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Cap rate 8.5% vs local median 4.1% in Trenton — 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 88/100 on livability (#15 in MI, #250 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+.
• Trenton Public Schools (suburban): math 44% / reading 53% proficiency, ranked #109 of 540 in MI (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 2 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($795 loan paydown + $3k appreciation (3.0% local appreciation)).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $32k cash investment doubles in ~5 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 18y ago; this cycle's ask is 64% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $115,000

Questions for the listing agent

1. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. 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.
7. 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.
8. 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: 1.43% ✓
• Cap rate: 8.47%
• Cash-on-cash: 7.78%
• DSCR: 1.35
• GRM: 5.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 14.9%
• Equity multiple: 1.85×
• Total profit: $27,359
• Equity at exit: $51,709

10-year hold

• IRR: 16.7%
• Equity multiple: 3.46×
• Total profit: $79,066
• Equity at exit: $79,690

Cash invested: $32,200 (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 48183 2008

• Active inventory: 2
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,650 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$300
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $209

Break-even live

Break-even rent $1,386

Max offer price $115,000

Occupancy floor 82%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2901 W Jefferson Ave Unit 2901 Trenton, MI	2.0	1.0	850	$1,650	$1.94	2d	1	1.16mi

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-17
   remarks 305-char remark
2. 2026-06-17
   listed $115,000 Coming Soon 1 DOM

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

Taxation est. · year 1

• Rental income: $19,800
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,584
• − Management: −$1,584
• − HOA: −$3,600
• − Depreciation: −$3,345
• Taxable income: $945
• Est. tax owed @ 24.0%: −$227
• After-tax cash flow: $2,278/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.

Schools (NCES district)

• District: Trenton Public Schools
• NCES district ID: 2633900
• Math proficiency: 44% ▼ -7.00%
• Reading proficiency: 53% ▼ -2.00%
• Median HH income: $55,947
• Composite: 42.08/100
• National rank: #3321
• State rank: #109 of 540 in MI

Livability — Trenton

• Score: 88/100
• State rank: #15
• US rank: #250

Category grades

Amenities B+ Commute A Cost of living A+ Crime A+ Employment B+ Housing A+ Health & safety B- User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Trenton, MI

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 1,675,273 people
• By 2030: 1,620,300 · -3.3%
• By 2040: 1,502,341 · -10.3%
• By 2050: 1,384,039 · -17.4%
• By 2075: 1,124,592 · -32.9%
• By 2100: 881,193 · -47.4%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+43.8% since first listed

5 events — show timeline

• 2026-06-17 Coming Soon $115,000 MiRealSource-MiMLS
• 2009-07-19 Listing Removed — REALCOMP
• 2008-12-19 Listed $69,999 REALCOMP
• 2008-12-18 Listing Removed — REALCOMP
• 2008-06-18 Listed $79,999 REALCOMP