15824 Charleston Dr · Sterling Heights, MI 48038

$179,900

2 bd · 1.0 ba · 1,996 sqft · Condo · 9 Days on market

Built 1987 Good condition $221/mo HOA · 12% 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 +12.5/30.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• Schools +4.0/10.0
• Condition / age +3.8/5.0
• DSCR +3.7/10.0
• Livability +3.7/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this well maintained property in the highly desirable Colony community of Clinton Township! This spacious home offers the perfect blend of comfort, functionality, and modern style with an open-concept layout ideal for both everyday living and entertaining. Step inside to find bright and inviting living spaces, generously sized bedrooms, and a well-appointed kitchen featuring ample cabinetry, abundant counter space, and seamless flow into the dining and family areas. The primary suite provides a private retreat with plenty of closet space and a relaxing atmosphere. Enjoy the private patio space - perfect for morning coffee, or simply unwinding after a long day. Additional highlights include granite countertops in the kitchen, attached garage, and a convenient location close to shopping, dining, parks, and award-winning Chippewa Valley schools. Furnace, Roof, Windows and Door Wall replaced in 2012, Kitchen partially remodeled in 2018, A/C unit replaced in 2018, Water Heater replaced in 2025, Situated near major expressways for an easy commute, this move-in-ready home offers everything today's buyers are looking for. Don't miss your opportunity to make this exceptional Clinton Township home your own!

Key facts

• Move-in-ready home
• Convenient location
• Granite countertops

Tags

• PRIVATE PATIO SPACE
• GRANITE COUNTERTOPS
• CONVENIENT LOCATION
• MOVE-IN-READY HOME

Property features AI

Finance

• Other: Pets allowed
• HOA & community: Has homeowners association; HOA fee $221 monthly (includes grounds maintenance, snow removal, trash, water)

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Condominium (residential); One level; Ground-level entry with steps; Brick and vinyl siding
• Construction: Brick and vinyl siding construction; Finished below-grade area
• Exterior features: Private entrance; Paved road access

Interior

• Kitchen: Free-standing gas range; Microwave; Dishwasher; Free-standing refrigerator
• Bedrooms: 4 total rooms (bedrooms included in room count)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air; Ceiling fan(s)
• Interior features: Private entrance; Finished basement
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $180k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-28 ($-335/yr) — negative.
• To cash-flow at today's rent, offer at most $176k (2.2% below list).
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $176k (2.2% below list) — sets the bar for cash-flow.
• Cap rate 6.1% vs local median 3.8% 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: schools C-, health & safety D+, amenities F.
• Chippewa Valley Schools (suburban): math 39% / reading 50% proficiency, ranked #133 of 540 in MI (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.9%/yr); 268 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 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 $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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.

Recommended offer $175,859 (2.2% 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. 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. 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?
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: 1.01% ✓
• Cap rate: 6.11%
• Cash-on-cash: -0.67%
• DSCR: 0.97
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -21.4%
• Equity multiple: 0.28×
• Total profit: $-36,095
• Equity at exit: $26,824

10-year hold

• IRR: -26.6%
• Equity multiple: -0.07×
• Total profit: $-53,650
• Equity at exit: $15,554

Cash invested: $50,372 (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 48038

• Rents YoY: -0.9%
• Active inventory: 268
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,818 high
• Mortgage (P&I): −$943
• Tax est. 1.5%: −$225 /mo · $2,698/yr
• Insurance: −$75
• HOA: −$221
• Vacancy / Maint / Mgmt: −$382
• Net cashflow: $-28

Break-even live

Break-even rent $1,853

Max offer price $175,859

Occupancy floor 97%

Sensitivity live

Price	-10% $96	-5% $34	+0% $-28	+5% $-90	+10% $-152
Rent	-10% $-172	-5% $-100	+0% $-28	+5% $44	+10% $116
Rate	-1.0pp $63	-0.5pp $18	base $-28	+0.5pp $-75	+1.0pp $-122

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15441 Yale Dr Clinton Twp, MI	2.0	2.0	1400	$1,900	$1.36	0d	1	0.30mi
44666 Connecticut Ct Clinton Twp, MI	2.0	2.0	1800	$1,750	$0.97	45d	1	0.37mi
44525 Pine Dr Sterling Heights, MI	1.0–3.0	1.0–2.0	989	$1,587	$1.60	0d	41	0.64mi
15246 Ashley Ct Macomb, MI	2.0	2.0	2200	$1,600	$0.73	45d	1	0.80mi
14520 Vauxhall Dr Sterling Heights, MI	2.0	2.0	1244	$2,000	$1.61	0d	1	0.94mi
16431 Dominion Dr Macomb, MI	2.0	2.0	1400	$1,800	$1.29	26d	1	1.01mi
45678 Kennedy Ave Shelby Twp, MI	2.0	2.0	1499	$1,800	$1.20	45d	1	1.03mi
42843 Richmond Dr Sterling Heights, MI	2.0	2.5	2073	$2,195	$1.06	4d	1	1.07mi
42682 Park Cresent Dr Sterling Heights, MI	3.0	2.5	2033	$3,000	$1.48	18d	1	1.07mi
16670 Newbury Ave Macomb, MI	2.0	2.5	1601	$2,250	$1.41	0d	1	1.14mi
17721 Montage Clinton Twp, MI	2.0–3.0	2.0–3.0	1563	$1,985	$1.27	0d	6	1.22mi
14324 Wexford Dr Shelby Township, MI	2.0	2.0	1300	$1,950	$1.50	46d	1	1.22mi
14304 Wexford Dr Shelby Township, MI	2.0	2.0	1300	$1,950	$1.50	45d	1	1.24mi
14282 Wexford Dr Shelby Township, MI	3.0	2.0	1385	$2,200	$1.59	45d	1	1.26mi
42206 Toddmark Ln #47 Clinton Twp, MI	2.0	1.5	1288	$1,750	$1.36	45d	1	1.27mi
18255 Manorwood S Clinton Twp, MI	2.0	1.0–2.0	1225	$1,793	$1.46	0d	15	1.48mi

HOA detail condo

• Monthly dues: $221 · $2,652/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-08
   status $179,900 Pending 9 DOM
2. 2026-06-07
   days on market $179,900 Active 9 DOM
3. 2026-06-04
   days on market $179,900 Active 6 DOM
4. 2026-06-03
   days on market $179,900 Active 5 DOM
5. 2026-06-02
   days on market $179,900 Active 4 DOM
6. 2026-06-01
   days on market $179,900 Active 3 DOM
7. 2026-05-31
   days on market $179,900 Active 2 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: $21,818
• − Mortgage interest: −$10,077
• − Property taxes: −$2,698
• − Insurance: −$900
• − Repairs & maintenance: −$1,745
• − Management: −$1,745
• − HOA: −$2,652
• − Depreciation: −$5,233
• Taxable loss: −$3,234
• Est. tax savings @ 24.0%: +$776
• After-tax cash flow: $441/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 · 6 photos

Good 75/100 Cosmetic rehab

This well-maintained and updated condo in Clinton Township offers a good investment opportunity with minimal repairs and potential for significant value increases through cosmetic updates.

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics.
• Both Replace carpet with hardwood or tile — Hardwood or tile flooring would increase both resale and rental value.
• Both Update kitchen cabinets and countertops — Modern kitchen updates would significantly boost both resale and rental value.
• Both Install new windows — New energy-efficient windows would improve energy efficiency and curb appeal.
• Both Landscaping improvements — Enhanced landscaping would improve curb appeal and attract more potential buyers/renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Replace carpet with hardwood or tile — Hardwood or tile flooring would increase both resale and rental value. ↑
• Both Update kitchen cabinets and countertops — Modern kitchen updates would significantly boost both resale and rental value. ↑
• Both Install new windows — New energy-efficient windows would improve energy efficiency and curb appeal. ↑
• Both Landscaping improvements — Enhanced landscaping would improve curb appeal and attract more potential buyers/renters. ↑

ⓘ 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: Chippewa Valley Schools
• NCES district ID: 2609570
• Math proficiency: 39% ▼ -10.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $64,964
• Composite: 39.61/100
• National rank: #3922
• State rank: #133 of 540 in MI

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

• County: Macomb County · 638,552 people
• City population: 133,573
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 44,422
• Household income: $78,567
• Rent vs Own: 37.7% rent · 62.3% own
• Severe rent burden: 1788.0

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 (77%)
• Race & ethnicity: White 77% Black 11% Two or more races 7% Asian 3% Hispanic / Latino 2%
• Common ancestry: Romanian 16% Lithuanian 3% Iranian 2%
• Foreign-born: 11% · Canada, Vietnam
• Languages at home: 86% English-only · Other Indo-European 5% Russian/Polish/Slavic 2% Arabic 2%

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: ▼ -212.31%
• Current HPI: 261.3877
• Rent YoY: ▼ -0.92%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-05-27 Listed $179,900 MiRealSource-MiMLS
• 2026-05-27 Listed $179,900 REALCOMP