24459 Quad Park Ln · St. Clair Shores, MI 48035

$109,900

2 bd · 1.5 ba · 1,104 sqft · Condo · 36 Days on market

Built 1975 Fair condition $100/sqft · 21% below area Est $140k · 21% under $265/mo HOA · 21% of rent

---

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).

• ARV discount +15.0/15.0
• Cash flow +11.0/30.0
• 1% rule +6.3/10.0
• Rent growth +3.6/5.0
• Schools +3.6/10.0
• DSCR +3.2/10.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

VERY NICE 2 BDRM, 1.5 BATHS TOWNHOUSE STYLE END-UNIT W/ BASEMENT LANSE CRUESE SCHOOLS. ENTER INTO A LARGE LIV RM, DINING "L" OFF KITCHEN W/ DOOR WALL TO PATIO. ALL APPLIANCES ARE INCLUDED. 2 PANTRIES & BONUS STORAGE ROOM THAT COULD BE A 1ST FLR LAUNDRY. 1ST FLR HALF BATH, 2 UPPER BEDROOMS. MASTER IS 17x11 W/ EXTRA CLOSET SPACE. FRESHLY PAINTED THROUGHOUT. BASEMENT W/ WASHER & DRYER. CENTRAL AIR. FURNACE IS 10 YEARS OLD. WATER IS INCLUDED IN HOA FEE. IT CAN BE RENTED

Key facts

• Bonus storage room
• 2 pantries
• Dining l off kitchen

Tags

• TOWNHOUSE STYLE
• LARGE LIV RM
• DINING L OFF KITCHEN
• DOORWALL TO PATIO
• 2 PANTRIES
• BONUS STORAGE ROOM

Property features AI

Finance

• HOA & community: Homeowners association with a monthly fee of $265

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential condominium; Two stories
• Construction: Brick and vinyl siding exterior
• Exterior features: No pool; Pets allowed with limits by number and size

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator; Disposal; Gas water heater
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Ceiling fans
• Interior features: Full basement with concrete floor; 5 total rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $110k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-47 ($-561/yr) — negative.
• To cash-flow at today's rent, offer at most $103k (6.2% below list).
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $103k (6.2% below list) — sets the bar for cash-flow.
• Cap rate 5.8% 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.
• L'Anse Creuse Public Schools (suburban): math 31% / reading 51% proficiency, ranked #184 of 540 in MI (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising fast (+4.2%/yr); 175 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $760 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 36 days — a 3% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 31y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $55k; list at $110k implies a 100% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $103,135 (6.2% 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 36 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
6. 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?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.13% ✓
• Cap rate: 5.78%
• Cash-on-cash: -1.82%
• DSCR: 0.92
• GRM: 7.4

CMA / ARV

• ARV (median comp): $139,775
• List price: $109,900
• Delta: -21.37%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.25% rent growth · sell at horizon

5-year hold

• IRR: -17.2%
• Equity multiple: 0.38×
• Total profit: $-19,029
• Equity at exit: $16,386

10-year hold

• IRR: -6.1%
• Equity multiple: 0.58×
• Total profit: $-13,033
• Equity at exit: $9,502

Cash invested: $30,772 (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 48035

• Home prices YoY: -29.1%
• Rents YoY: 4.2%
• Active inventory: 175
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,238 high
• Mortgage (P&I): −$576
• Tax est. 1.5%: −$137 /mo · $1,648/yr
• Insurance: −$46
• HOA: −$265
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $-47

Break-even live

Break-even rent $1,297

Max offer price $103,135

Occupancy floor 99%

Sensitivity live

Price	-10% $29	-5% $-9	+0% $-47	+5% $-85	+10% $-123
Rent	-10% $-145	-5% $-96	+0% $-47	+5% $2	+10% $51
Rate	-1.0pp $9	-0.5pp $-19	base $-47	+0.5pp $-75	+1.0pp $-104

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
35926 Union Lake Rd Harrison Twp, MI	1.0–2.0	1.0	840	$1,085	$1.29	0d	2	0.24mi
24382 Eastwood Village Ct Clinton Twp, MI	1.0–2.0	1.0	825	$1,460	$1.77	0d	8	0.37mi
36420 Union Lake Rd Harrison Twp, MI	1.0	1.0	800	$1,060	$1.32	0d	3	0.37mi
24646 N Elda Ct Harrison Twp, MI	1.0–2.0	1.0	700	$930	$1.33	44d	1	0.47mi
23970 Newberry Dr Clinton Twp, MI	2.0	1.0	864	$950	$1.10	2d	1	0.56mi
35255 Brittany Park St Harrison Twp, MI	2.0	1.0–1.5	750	$1,165	$1.55	17d	1	0.62mi
25675 Maritime Cir N Harrison Twp, MI	2.0	2.5	1335	$1,800	$1.35	23d	1	0.67mi
25656 Maritime Cir N Harrison Twp, MI	2.0	2.0	1077	$1,650	$1.53	44d	1	0.67mi
25855 Ashby Dr Harrison Township, MI	2.0	2.0–2.5	1405	$2,180	$1.55	0d	3	0.68mi
23243 15 Mile Rd Clinton Township, MI	1.0	1.0	700	$1,000	$1.43	11d	1	0.69mi
24120 Denise Blvd Clinton Twp, MI	1.0–2.0	1.0	800	$940	$1.18	44d	1	0.78mi
23560 Denton St Clinton Twp, MI	1.0–2.0	1.0	650	$1,100	$1.69	4d	1	0.85mi
35844 Jefferson Ave Harrison Twp, MI	1.0–2.0	1.0–1.5	750	$1,385	$1.85	0d	10	0.94mi
25169 Orchid St Harrison Twp, MI	2.0	1.5	1100	$1,000	$0.91	21d	1	1.04mi
25199 Orchid St Unit 1 Harrison Township, MI	2.0	1.5	1100	$1,000	$0.91	21d	1	1.06mi
26450 Crocker Blvd Harrison Twp, MI	1.0–2.0	1.0	692	$845	$1.22	44d	1	1.09mi
26070 N Lake Dr Harrison Twp, MI	2.0	1.0	1000	$1,498	$1.50	0d	1	1.17mi

HOA detail condo

• Monthly dues: $265 · $3,180/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-15
   status $109,900 Pending 36 DOM
2. 2026-06-15
   days on market $109,900 Active 36 DOM
3. 2026-06-13
   days on market $109,900 Active 34 DOM
4. 2026-06-13
   days on market $109,900 Active 33 DOM
5. 2026-06-09
   days on market $109,900 Active 30 DOM
6. 2026-06-08
   days on market $109,900 Active 29 DOM
7. 2026-06-07
   days on market $109,900 Active 28 DOM
8. 2026-06-04
   days on market $109,900 Active 25 DOM
9. 2026-06-03
   days on market $109,900 Active 24 DOM
10. 2026-06-02
    days on market $109,900 Active 23 DOM
11. 2026-06-01
    days on market $109,900 Active 22 DOM
12. 2026-05-31
    days on market $109,900 Active 21 DOM
13. 2026-05-10
    listed $120,000 Active 463-char remark
14. 1995-04-28
    soldstatus $55,000
15. 1995-04-12
    listed $57,900
16. 1995-04-12
    historical

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°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: $14,852
• − Mortgage interest: −$6,156
• − Property taxes: −$1,648
• − Insurance: −$550
• − Repairs & maintenance: −$1,188
• − Management: −$1,188
• − HOA: −$3,180
• − Depreciation: −$3,197
• Taxable loss: −$2,256
• Est. tax savings @ 24.0%: +$541
• After-tax cash flow: $-20/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

Fair 45/100 Moderate rehab

This townhouse requires moderate repairs and updates to improve its condition and value. Painting, flooring, and kitchen and bathroom upgrades are recommended.

Repairs flagged

• Moderate Siding — Weathered and discolored
• Minor Fencing — Some overgrown vegetation

Value-add opportunities

• Both Paint exterior and interior — Enhances curb appeal and interior aesthetics
• Both Replace carpet with hardwood or tile — Improves durability and aesthetics
• Both Upgrade kitchen cabinets and appliances — Modernizes the space and adds value
• Both Replace dated bathroom fixtures — Enhances functionality and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
Siding · Weathered and discolored	Moderate	$3,000–15,000
Fencing · Some overgrown vegetation	Minor	$500–3,000
Total estimated repair cost · 2 items		$3,500–18,000

Value-add ROI direction

• Both Paint exterior and interior — Enhances curb appeal and interior aesthetics ↑
• Both Replace carpet with hardwood or tile — Improves durability and aesthetics ↑
• Both Upgrade kitchen cabinets and appliances — Modernizes the space and adds value ↑
• Both Replace dated bathroom fixtures — Enhances functionality and aesthetics ↑

ⓘ 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: L'Anse Creuse Public Schools
• NCES district ID: 2621870
• Math proficiency: 31% ▼ -8.00%
• Reading proficiency: 51% ▼ -2.00%
• Median HH income: $57,757
• Composite: 35.99/100
• National rank: #4790
• State rank: #184 of 540 in MI

Livability — St. Clair Shores

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

Census & demographics

• County: Macomb County · 638,552 people
• City population: 58,217
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 33,569
• Household income: $73,015
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 978.0

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 (68%)
• Race & ethnicity: White 68% Black 21% Two or more races 6% Hispanic / Latino 4% Asian 2%
• Common ancestry: Romanian 14% Lithuanian 5% Slovak 2%
• Foreign-born: 6% · Canada
• Languages at home: 93% English-only · Spanish 2% Other Indo-European 1% Arabic 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: ▼ -148.36%
• Current HPI: 362.1471
• Rent YoY: ▲ 4.25%
• 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

+89.8% since first listed

7 events — show timeline

• 2026-06-15 Pending — REALCOMP
• 2026-05-27 Price Changed $109,900 REALCOMP
• 2026-05-27 Price Changed $109,900,000 REALCOMP
• 2026-05-10 Listed $120,000 REALCOMP
• 1995-04-28 Sold (MLS) $55,000 MiRealSource-MiMLS
• 1995-04-12 Listing Removed — MiRealSource-MiMLS
• 1995-04-12 Listed $57,900 MiRealSource-MiMLS