15012 Island Dr · Sterling Heights, MI 48313 2220

$120,000

1 bd · 1.0 ba · 798 sqft · Townhouse · 60 Days on market

Built 1988 Good condition $150/sqft · 28% below area Est $168k · 28% under $240/mo HOA · 16% of rent

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Why this score? — see what drove the C+ 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 +17.4/30.0
• ARV discount +15.0/15.0
• 1% rule +7.2/10.0
• DSCR +5.4/10.0
• Appreciation +5.0/10.0
• Schools +4.4/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0

Listing remarks MLS

Step into comfort and convenience with this beautifully updated, first-floor one-bedroom condo located in the heart of Sterling Heights. This clean, modern space is designed for easy living, offering a perfect blend of style and practicality . Enjoy a bright and inviting interior with fresh updates throughout, including a brand-new dishwasher and the added convenience of your own in-unit washer and dryer. The open layout creates a welcoming atmosphere, ideal for relaxing or entertaining. Step outside to your own covered patio - perfect for morning coffee or unwinding after a long day. With maintenance-free living, you can spend less time worrying about upkeep and more time enjoying everything the area has to offer. Situated just minutes from parks, popular restaurants, shopping centers, and major expressways, this location makes commuting and daily errands effortless. If you're looking for a clean, updated, and low-maintenance place to call home in a prime location, this condo is an exceptional choice. Easy application process makes moving in even simpler - don't miss out on this inviting home.

Key facts

• First-floor condo
• Covered patio
• Minutes from parks

Tags

• FIRST-FLOOR CONDO
• IN-UNIT WASHER AND DRYER
• COVERED PATIO
• MAINTENANCE-FREE LIVING
• MINUTES FROM PARKS
• POPULAR RESTAURANTS

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath townhouse listed at $120k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $91 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 3.9% in Sterling Heights — 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 74/100 on livability (#173 in MI, #4,545 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety D+, amenities F.
• Utica Community Schools (suburban): math 38% / reading 53% proficiency, ranked #126 of 540 in MI (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Graebner Elementary School (math 28% / reading 42%, grade F, #735 of 1,397 statewide, top 53%, 549 students, 58% FRL); Bemis Junior High School (math 41% / reading 63%, grade C+, #95 of 493 statewide, top 20%, 805 students, 44% FRL); Henry Ford Ii High School (math 33% / reading 57%, grade D-, #211 of 713 statewide, top 30%, 1,717 students, 37% FRL) — zoned schools average 46% FRL vs 26% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 1 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals lingering (median 39d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,321 units permitted in Macomb County in 2024 (86 in 5+ unit buildings).

Forward outlook

• In year one you build about $4k of equity ($830 loan paydown + $4k appreciation (3.0% local appreciation)).
• Macomb County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 17 sale attempts since 29y 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 $92k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.22% ✓
• Cap rate: 7.20%
• Cash-on-cash: 3.25%
• DSCR: 1.14
• GRM: 6.8

CMA / ARV

• ARV (median comp): $167,760
• List price: $120,000
• Delta: -28.47%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15090 Northpointe Dr	0.31mi	2/2.0 (+1)	841 (+5%)	9mo	$145,000	$172	60
15895 Cambridge Dr	0.66mi	2/1.5 (+1)	946 (+18%)	3mo	$182,500	$193	34
15853 Cambridge Dr #5	0.79mi	2/1.0 (+1)	946 (+18%)	9mo	$175,000	$185	28
44742 Maryland Ct	0.93mi	2/1.5 (+1)	946 (+18%)	8mo	$162,000	$171	27
44529 Connecticut Ct	0.77mi	2/1.5 (+1)	946 (+18%)	10mo	$180,000	$190	25
44625 Connecticut Ct	0.82mi	2/1.5 (+1)	950 (+19%)	10mo	$199,900	$210	25
15805 Cambridge Dr	0.77mi	2/1.5 (+1)	946 (+18%)	20mo	$175,000	$185	17

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 10.6%
• Equity multiple: 1.61×
• Total profit: $20,424
• Equity at exit: $53,957

10-year hold

• IRR: 12.9%
• Equity multiple: 2.93×
• Total profit: $64,832
• Equity at exit: $83,154

Cash invested: $33,600 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 3 active · 3 under contract
• Months of supply: 4.5 mo (22%/mo absorbed)
• Median asking: $181,900 ($188/sqft)
• Median days on market: 49 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +11.9% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 48313 2220

• Active inventory: 1
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,469 high
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$240
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $91

Break-even live

Break-even rent $1,354

Max offer price $120,000

Occupancy floor 89%

Sensitivity live

Price	-10% $174	-5% $132	+0% $91	+5% $50	+10% $8
Rent	-10% $-25	-5% $33	+0% $91	+5% $149	+10% $207
Rate	-1.0pp $151	-0.5pp $122	base $91	+0.5pp $60	+1.0pp $28

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: $30,000
• Closing costs: $3,600
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
43441 Cape Dr Sterling Heights, MI	2.0	1.5	1068	$1,800	$1.69	33d	1	0.06mi
15140 Seagull Dr Sterling Heights, MI	2.0	1.5	1068	$1,500	$1.40	59d	1	0.07mi
43237 Cape Dr Sterling Heights, MI	2.0	2.0	1068	$1,275	$1.19	93d	1	0.13mi
43234 Fountain Dr Sterling Heights, MI	2.0	2.0	1120	$1,500	$1.34	10d	1	0.15mi
15770 Lakeside Village Dr Clinton Twp, MI	1.0–2.0	1.0–2.0	980	$1,105	$1.13	7d	68	0.38mi
44315 Sunnyside Dr Sterling Heights, MI	2.0	1.0	850	$1,200	$1.41	38d	1	0.40mi
44525 Pine Dr Sterling Heights, MI	1.0–3.0	1.0–2.0	963	$1,299	$1.35	7d	37	0.45mi
44411 Sunnyside Dr Sterling Heights, MI	2.0	2.0	1043	$1,700	$1.63	23d	1	0.46mi
44524 N Bunker Hill Dr Clinton Twp, MI	2.0	1.0	968	$1,400	$1.45	93d	1	0.63mi
15895 Cambridge Dr Clinton Twp, MI	2.0	1.5	946	$1,750	$1.85	52d	1	0.64mi
42480 Green Valley Dr Clinton Twp, MI	1.0–2.0	1.0	771	$971	$1.26	7d	36	0.77mi
44621 Georgia Ct Clinton Township, MI	2.0	1.0	1000	$1,550	$1.55	10d	1	0.80mi
44621 Georgia Ct Clinton Township, MI	2.0	1.0	1000	$1,550	$1.55	18d	1	0.80mi
15246 Ashley Ct Macomb, MI	2.0	2.0	1100	$1,600	$1.45	48d	1	1.01mi
15536 Ashley Ct Macomb, MI	2.0	2.0	1092	$1,500	$1.37	93d	1	1.03mi
15522 Ashley Ct #64 Macomb, MI	2.0	2.0	1100	$1,500	$1.36	73d	1	1.04mi
15010 Ashgrove Dr Sterling Heights, MI	1.0–2.0	1.0–2.0	720	$940	$1.31	7d	9	1.13mi
42383 Garfield Rd Clinton Twp, MI	2.0	2.0	1100	$1,200	$1.09	93d	1	1.18mi
14196 Lakeside Blvd N Shelby Township, MI	2.0	2.0	1000	$1,645	$1.65	93d	1	1.23mi
14209 Lakeside Blvd N Shelby Charter Township, MI	1.0–2.0	1.0–2.5	810	$1,550	$1.91	7d	15	1.27mi

Property features AI

Finance

• Other: Pets allowed — contact for details
• HOA & community: Homeowners association with a $240 monthly feeHOA covers grounds and structure maintenance, snow removal, trash, and water

Exterior

• Parking: No garage
• Utilities: Public waterPublic sewer
• Home design: CondominiumResidential propertyOne-level (ground-level entry)
• Construction: Brick constructionBuilt on a slab foundation
• Exterior features: Covered patioLocated on a cul-de-sacPaved road access

Interior

• Kitchen: DishwasherFree-standing electric rangeFree-standing refrigeratorMicrowave
• Bedrooms: Total of 4 rooms (includes living areas and bedrooms)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central airCeiling fan(s)Forced air heatingNatural gas
• Interior features: Gas water heaterDishwasherFree-standing electric rangeFree-standing refrigeratorMicrowave
• Laundry & utility: In-unit laundry in a dedicated laundry roomWasherDryer

Listing history 48 events

1. 2026-08-08
   days on market $120,000 Active 60 DOM
2. 2026-08-06
   days on market $120,000 Active 58 DOM
3. 2026-08-05
   days on market $120,000 Active 57 DOM
4. 2026-08-04
   days on market $120,000 Active 56 DOM
5. 2026-08-03
   days on market $120,000 Active 55 DOM
6. 2026-07-31
   days on market $120,000 Active 52 DOM
7. 2026-07-30
   days on market $120,000 Active 50 DOM
8. 2026-07-28
   days on market $120,000 Active 49 DOM
9. 2026-07-26
   days on market $120,000 Active 47 DOM
10. 2026-07-24
    days on market $120,000 Active 45 DOM
11. 2026-07-23
    days on marketlisting id $120,000 Active 44 DOM
12. 2026-07-23
    days on market $120,000 Active 43 DOM
13. 2026-07-22
    days on market $120,000 Active 42 DOM
14. 2026-07-21
    days on market $120,000 Active 41 DOM
15. 2026-07-20
    days on market $120,000 Active 40 DOM
16. 2026-07-18
    days on market $120,000 Active 38 DOM
17. 2026-07-18
    days on market $120,000 Active 37 DOM
18. 2026-07-16
    days on market $120,000 Active 36 DOM
19. 2026-07-15
    days on market $120,000 Active 35 DOM
20. 2026-07-14
    days on market $120,000 Active 34 DOM
21. 2026-07-13
    days on market $120,000 Active 33 DOM
22. 2026-07-13
    days on market $120,000 Active 32 DOM
23. 2026-07-11
    days on market $120,000 Active 31 DOM
24. 2026-07-10
    days on market $120,000 Active 30 DOM
25. 2026-07-09
    days on market $120,000 Active 29 DOM
26. 2026-07-07
    days on market $120,000 Active 27 DOM
27. 2026-07-06
    days on market $120,000 Active 26 DOM
28. 2026-07-06
    days on market $120,000 Active 25 DOM
29. 2026-07-05
    days on market $120,000 Active 24 DOM
30. 2026-07-03
    days on market $120,000 Active 23 DOM
31. 2026-07-02
    days on market $120,000 Active 22 DOM
32. 2026-07-01
    days on market $120,000 Active 21 DOM
33. 2026-06-30
    days on market $120,000 Active 20 DOM
34. 2026-06-29
    days on market $120,000 Active 19 DOM
35. 2026-06-28
    days on market $120,000 Active 18 DOM
36. 2026-06-27
    days on market $120,000 Active 17 DOM
37. 2026-06-26
    days on market $120,000 Active 16 DOM
38. 2026-06-24
    days on market $120,000 Active 14 DOM
39. 2026-06-22
    days on market $120,000 Active 12 DOM
40. 2026-06-21
    days on market $120,000 Active 11 DOM
41. 2026-06-18
    days on market $120,000 Active 8 DOM
42. 2026-06-17
    days on market $120,000 Active 7 DOM
43. 2026-06-16
    days on market $120,000 Active 6 DOM
44. 2026-06-15
    days on market $120,000 Active 5 DOM
45. 2026-06-13
    days on market $120,000 Active 3 DOM
46. 2026-06-13
    days on marketlisting id $120,000 Active 2 DOM
47. 2026-06-10
    remarks 699-char remark
48. 2026-06-10
    listed $120,000 Active 1 DOM

ⓘ 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 ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,625
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$1,410
• − Management: −$1,410
• − HOA: −$2,880
• − Depreciation: −$3,491
• Taxable loss: −$688
• Est. tax savings @ 24.0%: +$165
• After-tax cash flow: $1,257/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 · 11 photos

Good 75/100 Cosmetic rehab Est. rehab $3,990–$11,970 screening

This well-maintained, updated condo is move-in ready with good curb appeal and a fresh interior. A fresh coat of paint on the exterior and new window screens would further enhance its value.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace window screens — Improves energy efficiency and aesthetics ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 44/100

Zoned Schools

Elementary Graebner Elementary School F MI #735/1,397 Nat'l #22,904/41,679 Middle Bemis Junior High School C+ MI #95/493 Nat'l #3,033/14,009 High Henry Ford Ii High School D- MI #211/713 Nat'l #6,809/17,239

Schools (NCES district)

• District: Utica Community Schools
• NCES district ID: 2634470
• Math proficiency: 38% ▼ -13.00%
• Reading proficiency: 53% ▼ -7.00%
• Median HH income: $65,953
• Composite: 40.52/100
• National rank: #3709
• State rank: #126 of 540 in MI

B Composite livability gradescore 74/100

Livability — Sterling Heights

• Score: 74/100
• State rank: #173
• US rank: #4545

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sterling Heights, MI

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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%

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

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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

Property features AI

Finance

• Other: Pets allowed — contact for details
• HOA & community: Homeowners association with a $240 monthly feeHOA covers grounds and structure maintenance, snow removal, trash, and water

Exterior

• Parking: No garage
• Utilities: Public waterPublic sewer
• Home design: CondominiumResidential propertyOne-level (ground-level entry)
• Construction: Brick constructionBuilt on a slab foundation
• Exterior features: Covered patioLocated on a cul-de-sacPaved road access

Interior

• Kitchen: DishwasherFree-standing electric rangeFree-standing refrigeratorMicrowave
• Bedrooms: Total of 4 rooms (includes living areas and bedrooms)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central airCeiling fan(s)Forced air heatingNatural gas
• Interior features: Gas water heaterDishwasherFree-standing electric rangeFree-standing refrigeratorMicrowave
• Laundry & utility: In-unit laundry in a dedicated laundry roomWasherDryer

Price history

+130.8% since first listed

42 events — show timeline

• 2026-06-09 Listed $120,000 MiRealSource-MiMLS
• 2026-06-09 Listed $120,000 REALCOMP
• 2026-05-08 Price Changed $1,300 REALSOURCE
• 2026-04-25 Listed for Rent $1,400 REALSOURCE
• 2026-04-25 Rental Removed $1,400 REALCOMP
• 2026-04-21 Listed for Rent $1,400 REALCOMP
• 2022-02-10 Sold (MLS) $92,000 MiRealSource-MiMLS
• 2022-02-10 Sold (MLS) $92,000 Greater Lansing AoR
• 2022-02-10 Sold (MLS) $92,000 REALCOMP
• 2022-01-12 Pending — MiRealSource-MiMLS
• 2022-01-12 Pending — REALCOMP
• 2022-01-11 Contingent — MiRealSource-MiMLS
• 2022-01-11 Contingent — REALCOMP
• 2021-11-20 Price Changed $92,000 MiRealSource-MiMLS
• 2021-11-19 Price Changed $92,000 REALCOMP
• 2021-10-25 Listed $95,000 MiRealSource-MiMLS
• 2021-10-25 Listed $92,000 Greater Lansing AoR
• 2021-10-25 Listed $95,000 REALCOMP
• 2016-02-17 Sold (MLS) $40,000 Greater Lansing AoR
• 2016-02-17 Sold (MLS) $40,000 MiRealSource-MiMLS
• 2016-02-17 Sold (MLS) $40,000 REALCOMP
• 2016-01-30 Pending — MiRealSource-MiMLS
• 2016-01-20 Relisted — MiRealSource-MiMLS
• 2016-01-16 Pending — MiRealSource-MiMLS
• 2016-01-13 Listed $46,500 MiRealSource-MiMLS
• 2016-01-13 Listed $46,500 Greater Lansing AoR
• 2016-01-13 Listed $46,500 REALCOMP
• 2016-01-12 Listing Removed — REALCOMP
• 2016-01-12 Listing Removed — Greater Lansing AoR
• 2016-01-12 Listing Removed — MiRealSource-MiMLS
• 2015-11-10 Listed $49,900 MiRealSource-MiMLS
• 2015-11-10 Listed $49,900 REALCOMP
• 2015-11-10 Listed $49,900 Greater Lansing AoR
• 2006-04-07 Sold (MLS) $67,500 MiRealSource-MiMLS
• 2006-03-31 Listing Removed — MiRealSource-MiMLS
• 2006-01-09 Listed $69,900 MiRealSource-MiMLS
• 2002-08-29 Sold (MLS) $69,000 MiRealSource-MiMLS
• 2002-08-14 Listing Removed — MiRealSource-MiMLS
• 2002-07-27 Listed $72,900 MiRealSource-MiMLS
• 1997-04-25 Sold (MLS) $50,500 MiRealSource-MiMLS
• 1997-04-17 Listing Removed — MiRealSource-MiMLS
• 1997-04-08 Listed $52,000 MiRealSource-MiMLS