38067 St. Tropez Dr · Sterling Heights, MI 48038

$45,000

4 bd · 2.0 ba · 1,400 sqft · Manufactured · 311 Days on market

Built 2007 Fair condition $32/sqft · 80% above area

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.7/5.0
• Rent growth +2.3/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lovely 4 bedroom, 2 bathroom double-wide mobile home located in River's Edge Community. Featuring 2 in-ground swimming pools, clubhouse, playground, and Chippewa Valley Schools. Backyard space has a shed and there are 2 parking spaces in front of home. Large kitchen and dining space directly off of family room, creating a nice open layout. Laundry room with back door adds to convenience of home. The master suite is located at one end of home and other three bedrooms at the opposite end. Home is in need of a few small repairs and is priced accordingly - roof leak caused some ceiling damage by the laundry room and master bathroom, and the flooring in both bathrooms needs some replacement boards.

Key facts

• Clubhouse
• Laundry room
• Backyard space

Tags

• IN-GROUND SWIMMING POOLS
• CLUBHOUSE
• PLAYGROUND
• CHIPPEWA VALLEY SCHOOLS
• BACKYARD SPACE
• LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $45k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $991 ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $45k).
• Recommended offer: $40k (12.0% below list) — sets the bar for market timing.
• Cap rate 32.7% vs local median 3.7% 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); 269 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $311 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $13k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 311 days — a 12% lower offer ($40k) is reasonable based on typical stale-listing flexibility.
• 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 $39,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 311 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 3.66% ✓
• Cap rate: 32.73%
• Cash-on-cash: 94.42%
• DSCR: 5.20
• GRM: 2.3

CMA / ARV

• ARV (median comp): $25,000
• List price: $45,000
• Delta: 80.00%
• Verdict: OVERPRICED
• Comps: 5 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15374 Danseur Dr	0.15mi	3/2.0 (-1)	1,288 (-8%)	14mo	$36,000	$28	63
38010 St Tropez St	0.12mi	3/2.0 (-1)	1,216 (-13%)	10mo	$29,900	$25	59
16107 Normandy St	0.32mi	3/1.0 (-1)	1,200 (-14%)	8mo	$7,500	$6	45

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 91.9%
• Equity multiple: 5.05×
• Total profit: $51,043
• Equity at exit: $6,710

10-year hold

• IRR: 94.1%
• Equity multiple: 9.51×
• Total profit: $107,181
• Equity at exit: $3,891

Cash invested: $12,600 (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 →

ZIP-level market 48038

• Rents YoY: -0.9%
• Active inventory: 269
• Price-to-rent: 2.3×

Monthly cashflow live

• Estimated rent: $1,649 high
• Mortgage (P&I): −$236
• Tax est. 1.5%: −$56 /mo · $675/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$346
• Net cashflow: $991

Break-even live

Break-even rent $394

Max offer price $45,000

Occupancy floor 35%

Sensitivity live

Price	-10% $1,022	-5% $1,007	+0% $991	+5% $976	+10% $960
Rent	-10% $861	-5% $926	+0% $991	+5% $1,056	+10% $1,122
Rate	-1.0pp $1,014	-0.5pp $1,003	base $991	+0.5pp $980	+1.0pp $968

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
38051 Saint Tropez Dr Unit 990 Clinton Township, MI	3.0	2.0	1120	$1,549	$1.38	3d	1	0.05mi
38100 Ducharme Dr Unit 476 Clinton Township, MI	3.0	2.0	1056	$1,549	$1.47	3d	1	0.10mi
15368 Dominique Dr Unit 868 Clinton Township, MI	3.0	2.0	1056	$1,549	$1.47	44d	1	0.10mi
15377 Dominique Dr Unit 828 Clinton Township, MI	3.0	2.0	1056	$1,549	$1.47	3d	1	0.11mi
15353 Dominique Dr Unit 834 Clinton Township, MI	3.0	2.0	1056	$1,549	$1.47	25d	1	0.14mi
38056 Johannes Dr Unit 524 Clinton Township, MI	3.0	2.0	1056	$1,549	$1.47	0d	1	0.17mi
15329 Danseur Dr Unit 795 Clinton Twp, MI	3.0	2.0	1056	$1,549	$1.47	4d	1	0.21mi
16196 Notre Dame St Unit 210 Clinton Township, MI	3.0	2.0	1056	$1,549	$1.47	0d	1	0.44mi
13429 Denver Cir S Sterling Heights, MI	3.0	1.5	1216	$2,100	$1.73	44d	1	1.24mi
38177 Jamestown Dr Sterling Heights, MI	3.0	2.0	1300	$1,850	$1.42	6d	1	1.27mi

Listing history 16 events

1. 2026-06-21
   days on market $45,000 Active 311 DOM
2. 2026-06-18
   days on market $45,000 Active 308 DOM
3. 2026-06-17
   days on market $45,000 Active 307 DOM
4. 2026-06-16
   days on market $45,000 Active 306 DOM
5. 2026-06-15
   days on market $45,000 Active 305 DOM
6. 2026-06-13
   days on market $45,000 Active 303 DOM
7. 2026-06-13
   days on market $45,000 Active 302 DOM
8. 2026-06-09
   days on market $45,000 Active 299 DOM
9. 2026-06-08
   days on market $45,000 Active 298 DOM
10. 2026-06-07
    days on market $45,000 Active 297 DOM
11. 2026-06-04
    days on market $45,000 Active 294 DOM
12. 2026-06-03
    days on market $45,000 Active 293 DOM
13. 2026-06-02
    days on market $45,000 Active 292 DOM
14. 2026-05-31
    days on market $45,000 Active 290 DOM
15. 2025-08-14
    listed $45,000 Active 702-char remark

    Show marketing remark (702 chars)

    Lovely 4 bedroom, 2 bathroom double-wide mobile home located in River's Edge Community. Featuring 2 in-ground swimming pools, clubhouse, playground, and Chippewa Valley Schools. Backyard space has a shed and there are 2 parking spaces in front of home. Large kitchen and dining space directly off of family room, creating a nice open layout. Laundry room with back door adds to convenience of home. The master suite is located at one end of home and other three bedrooms at the opposite end. Home is in need of a few small repairs and is priced accordingly - roof leak caused some ceiling damage by the laundry room and master bathroom, and the flooring in both bathrooms needs some replacement boards.

16. 2025-08-14
    listed $45,000 Active 702-char remark

    Show marketing remark (702 chars)

    Lovely 4 bedroom, 2 bathroom double-wide mobile home located in River's Edge Community. Featuring 2 in-ground swimming pools, clubhouse, playground, and Chippewa Valley Schools. Backyard space has a shed and there are 2 parking spaces in front of home. Large kitchen and dining space directly off of family room, creating a nice open layout. Laundry room with back door adds to convenience of home. The master suite is located at one end of home and other three bedrooms at the opposite end. Home is in need of a few small repairs and is priced accordingly - roof leak caused some ceiling damage by the laundry room and master bathroom, and the flooring in both bathrooms needs some replacement boards.

ⓘ 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: $19,783
• − Mortgage interest: −$2,521
• − Property taxes: −$675
• − Insurance: −$225
• − Repairs & maintenance: −$1,583
• − Management: −$1,583
• − Depreciation: −$1,309
• Taxable income: $11,888
• Est. tax owed @ 24.0%: −$2,853
• After-tax cash flow: $9,043/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 · 2 photos

Fair 45/100 Moderate rehab

The home requires moderate repairs and maintenance, including roof sealing, flooring replacement, and exterior painting. These updates will significantly improve its condition and value.

Repairs flagged

• Major Roof leak — Leak causing ceiling damage in laundry room and master bathroom.
• Major Bathroom flooring — Flooring needs replacement due to poor condition.
• Minor Paint — Paint is faded but not peeling or damaged.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint can improve curb appeal and home's overall appearance.
• Both Replace bathroom flooring — New flooring will improve the home's condition and make it more attractive for both resale and rental.
• Both Seal roof leak — Fixing the roof leak will prevent further damage and improve the home's overall condition, making it more attractive for both resale and rental.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Roof leak · Leak causing ceiling damage in laundry room and master bathroom.	Major	$15,000–50,000
Bathroom flooring · Flooring needs replacement due to poor condition.	Major	$15,000–50,000
Paint · Paint is faded but not peeling or damaged.	Minor	$500–3,000
Total estimated repair cost · 3 items		$30,500–103,000

Value-add ROI direction

• Resale Paint exterior siding — Fresh paint can improve curb appeal and home's overall appearance. ↑
• Both Replace bathroom flooring — New flooring will improve the home's condition and make it more attractive for both resale and rental. ↑
• Both Seal roof leak — Fixing the roof leak will prevent further damage and improve the home's overall condition, making it more attractive for both resale and rental. ↑

ⓘ 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

• 2025-08-14 Listed $45,000 REALCOMP
• 2025-08-14 Listed $45,000 MiRealSource-MiMLS