72 Gratiot Ave · Mount Clemens, MI 48043 2310

$159,900

3 bd · 1.0 ba · 1,045 sqft · SingleFamily · 9 Days on market

Built 1925 Good condition 6,098 sqft lot $153/sqft · at area comps Est $161k · at est.

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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 +13.6/30.0
• ARV discount +7.7/15.0
• Appreciation +5.0/10.0
• DSCR +4.1/10.0
• Condition / age +4.0/5.0
• Livability +3.9/5.0
• 1% rule +3.8/10.0
• Rent growth +2.5/5.0
• Schools +0.6/10.0

Listing remarks MLS

First time home buyers and Investors don't pass on this completely renovated 3 bedroom full basement ranch. This home is located in heart of MT clemens bus. district. Home has been completely re-done with neutral colors and bourber carpeting, 6 panel doors and beautiful new kitchen with ceramic tiles, new furnace and all new duck work. This home is a must see. Bank owned As is buyers and agents to verify all info.

Key facts

• 6,098 sq ft lot
• Garage
• Built 1925

Property features AI

Exterior

• Parking: Attached garage with electric and workshop area (1 garage space)
• Security: Pets allowed
• Utilities: Public water; Natural gas; Forced air heating; Gas water heater
• Home design: Residential, single-story; Built in 1925; Basement present
• Construction: Vinyl siding construction; Basement foundation
• Exterior features: Vinyl siding; Fenced yard; Patio; Porch

Interior

• Kitchen: Kitchen on entry level, approx. 14 x 12 with ceramic flooring; Dishwasher; Disposal; Microwave; Range/oven; Refrigerator
• Bedrooms: Three bedrooms (all on entry level); Primary bedroom approx. 15 x 11 with laminate flooring; Second bedroom approx. 11 x 11 with laminate flooring; Third bedroom approx. 10 (width) with laminate flooring
• Flooring: Laminate flooring in living room and bedrooms; Ceramic tile in kitchen and bathroom
• Bathrooms: One full bathroom (entry level) with ceramic flooring, approx. 10 x 8
• Heating & cooling: Forced air heating; Natural gas heat/fuel; Gas water heater
• Interior features: Cable/internet available; Unfinished basement
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $160k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $9 ($114/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $141k (11.8% below list).
• Recommended offer: $141k (11.8% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 3.0% in Mount Clemens — 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 77/100 on livability (#120 in MI, #2,918 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, amenities D+, employment D-.
• Mount Clemens Community School District (suburban): math 4% / reading 11% proficiency, ranked #532 of 540 in MI (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Seminole Academy (math 2% / reading 8%, grade F, #1,325 of 1,397 statewide, top 99%, 370 students, 94% FRL); Mount Clemens Middle School (math 2% / reading 12%, grade F, #481 of 493 statewide, top 98%, 151 students, 94% FRL); Mount Clemens High School (math 10% / reading 30%, grade F, #596 of 713 statewide, top 86%, 203 students, 90% FRL).
• Market conditions: 1 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 7d 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

• In year one you build about $6k of equity ($1k loan paydown + $5k 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 $45k cash investment doubles in ~6 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 24y 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.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $141,076 (11.8% below list)

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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 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: 0.88% ✗
• Cap rate: 6.36%
• Cash-on-cash: 0.25%
• DSCR: 1.01
• GRM: 9.4

CMA / ARV

• ARV (median comp): $160,759
• List price: $159,900
• Delta: -0.53%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
72 Gratiot Ave	0.00mi	3/1.0	1,045 (0%)	1mo	$169,900	$163	100
166 Clinton St	0.24mi	2/1.0 (-1)	1,035 (-1%)	1mo	$102,500	$99	81
72 Gratiot Ave	0.64mi	3/1.0	1,045 (0%)	1mo	$169,900	$163	70
21 Woolworth Ct	0.38mi	3/1.0	1,082 (+4%)	8mo	$110,000	$102	69
31 N Highland Ave	0.65mi	3/1.0	1,060 (+1%)	7mo	$192,500	$182	61
50 Michigan St	0.60mi	4/1.0 (+1)	1,056 (+1%)	7mo	$90,500	$86	60
71 Boehme St St	0.58mi	2/1.0 (-1)	1,156 (+11%)	2mo	$169,900	$147	48
190 Euclid Ave Unit and Lot 186	0.67mi	3/2.0	1,122 (+7%)	5mo	$169,999	$152	48
190 Euclid Ave	0.67mi	3/2.0	1,122 (+7%)	5mo	$169,999	$152	48
167 N Broadway St	0.48mi	3/1.0	1,200 (+15%)	6mo	$185,000	$154	48
111 S Highland St	0.74mi	2/1.0 (-1)	990 (-5%)	8mo	$155,000	$157	45
110 Smith St	0.74mi	3/2.0	1,135 (+9%)	8mo	$105,000	$93	41

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: 7.7%
• Equity multiple: 1.44×
• Total profit: $19,887
• Equity at exit: $71,898

10-year hold

• IRR: 10.4%
• Equity multiple: 2.56×
• Total profit: $70,003
• Equity at exit: $110,803

Cash invested: $44,772 (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 48043 2310

• Active inventory: 1
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,411 high
• Mortgage (P&I): −$839
• Tax est. 1.5%: −$200 /mo · $2,398/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $9

Break-even live

Break-even rent $1,399

Max offer price $159,900

Occupancy floor 94%

Sensitivity live

Price	-10% $120	-5% $65	+0% $9	+5% $-46	+10% $-101
Rent	-10% $-102	-5% $-46	+0% $9	+5% $65	+10% $121
Rate	-1.0pp $90	-0.5pp $50	base $9	+0.5pp $-32	+1.0pp $-74

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20 Lincoln St Unit 225 Mt Clemens, MI	2.0	1.0	816	$1,200	$1.47	45d	1	0.11mi
40 Ferrin Pl Mount Clemens, MI	3.0	1.0	1400	$1,700	$1.21	0d	1	0.21mi
15 Washington St Unit 2 Mt Clemens, MI	3.0	1.0	1396	$1,400	$1.00	45d	1	0.33mi
121 Jones St Unit 2 Mt Clemens, MI	2.0	1.0	1050	$1,600	$1.52	4d	1	0.38mi
121 Jones St Unit 1 Mt Clemens, MI	2.0	1.0	1080	$1,400	$1.30	0d	1	0.38mi
64 Crocker Blvd Mt Clemens, MI	2.0	1.0	950	$1,250	$1.32	45d	1	0.51mi
70 Crocker Blvd Mt Clemens, MI	2.0	1.0	950	$1,400	$1.47	12d	1	0.51mi
104 Crocker Blvd Mt Clemens, MI	2.0	1.0	854	$1,250	$1.46	7d	1	0.61mi
35 S Groesbeck Hwy Mt Clemens, MI	1.0–2.0	1.0–1.5	1125	$2,050	$1.82	0d	1	1.00mi
133 S Christine Cir Unit 1 Mt Clemens, MI	3.0	1.5	1040	$1,500	$1.44	0d	1	1.14mi
176 N Christine Cir Unit 1 Mt Clemens, MI	2.0	1.5	1020	$1,300	$1.27	45d	1	1.16mi
277 N Rose St Mt Clemens, MI	1.0–2.0	1.0	755	$1,434	$1.90	0d	2	1.16mi
23128 Wellington Cres Clinton Twp, MI	1.0–2.0	1.0	850	$1,375	$1.62	0d	6	1.22mi
38539 Wellington Dr #19 Clinton Twp, MI	2.0	1.0	1092	$1,400	$1.28	45d	1	1.36mi

Listing history 19 events

1. 2026-05-06
   status Pending 606-char remark
2. 2026-04-27
   listed $159,900 Active 606-char remark
3. 2009-07-24
   soldstatus $13,000 417-char remark

   Show marketing remark (417 chars)

   First time home buyers and Investors don't pass on this completely renovated 3 bedroom full basement ranch. This home is located in heart of MT clemens bus. district. Home has been completely re-done with neutral colors and bourber carpeting, 6 panel doors and beautiful new kitchen with ceramic tiles, new furnace and all new duck work. This home is a must see. Bank owned As is buyers and agents to verify all info.

4. 2009-06-26
   historical 417-char remark

   Show marketing remark (417 chars)

   First time home buyers and Investors don't pass on this completely renovated 3 bedroom full basement ranch. This home is located in heart of MT clemens bus. district. Home has been completely re-done with neutral colors and bourber carpeting, 6 panel doors and beautiful new kitchen with ceramic tiles, new furnace and all new duck work. This home is a must see. Bank owned As is buyers and agents to verify all info.

5. 2008-10-27
   listed $14,900 417-char remark

   Show marketing remark (417 chars)

   First time home buyers and Investors don't pass on this completely renovated 3 bedroom full basement ranch. This home is located in heart of MT clemens bus. district. Home has been completely re-done with neutral colors and bourber carpeting, 6 panel doors and beautiful new kitchen with ceramic tiles, new furnace and all new duck work. This home is a must see. Bank owned As is buyers and agents to verify all info.

6. 2008-10-10
   historical
7. 2008-05-08
   listed $31,900
8. 2008-03-11
   historical
9. 2008-03-11
   historical
10. 2007-08-15
    listed $54,900
11. 2007-08-10
    listed $54,900
12. 2006-08-01
    historical
13. 2006-02-06
    listed $124,000
14. 2003-03-10
    soldstatus $78,000
15. 2003-02-26
    historical
16. 2003-01-23
    listed $79,900
17. 2002-12-31
    listed $79,900
18. 2002-11-15
    listed $79,900
19. 2002-10-03
    listed $84,900

ⓘ 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: $16,929
• − Mortgage interest: −$8,957
• − Property taxes: −$2,398
• − Insurance: −$800
• − Repairs & maintenance: −$1,354
• − Management: −$1,354
• − Depreciation: −$4,652
• Taxable loss: −$2,586
• Est. tax savings @ 24.0%: +$621
• After-tax cash flow: $734/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 · 13 photos

Good 80/100 Cosmetic rehab

This move-in ready 3-bedroom ranch home is in good condition with recent updates. The exterior and interior appear to be in good condition, and the home has a large, semi-private backyard with a storage shed. The home is located in a great location with easy access to downtown and city parks.

Value-add opportunities

• Resale Paint the exterior siding — Painting the exterior siding can improve the curb appeal and make the home look more attractive to potential buyers.
• Both Replace the flooring — Replacing the flooring can improve the overall look and feel of the home, making it more appealing to both buyers and renters.
• Resale Update the kitchen appliances — Updating the kitchen appliances can make the home more appealing to potential buyers and increase its value.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint the exterior siding — Painting the exterior siding can improve the curb appeal and make the home look more attractive to potential buyers. ↑
• Both Replace the flooring — Replacing the flooring can improve the overall look and feel of the home, making it more appealing to both buyers and renters. ↑
• Resale Update the kitchen appliances — Updating the kitchen appliances can make the home more appealing to potential buyers and increase its value. ↑

ⓘ 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: Mount Clemens Community School District
• NCES district ID: 2624690
• Math proficiency: 4% ▼ -9.00%
• Reading proficiency: 11% ▼ -7.00%
• Median HH income: $36,632
• Composite: 6.25/100
• National rank: #10005
• State rank: #532 of 540 in MI

Livability — Mount Clemens

• Score: 77/100
• State rank: #120
• US rank: #2918

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Clemens, MI

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

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

+100.1% since first listed

20 events — show timeline

• 2026-06-03 Sold (MLS) $169,900 MiRealSource-MiMLS
• 2026-05-06 Pending — MiRealSource-MiMLS
• 2026-04-27 Listed $159,900 MiRealSource-MiMLS
• 2009-07-24 Sold (MLS) $13,000 MiRealSource-MiMLS
• 2009-06-26 Listing Removed — MiRealSource-MiMLS
• 2008-10-27 Listed $14,900 MiRealSource-MiMLS
• 2008-10-10 Listing Removed — MiRealSource-MiMLS
• 2008-05-08 Listed $31,900 MiRealSource-MiMLS
• 2008-03-11 Listing Removed — MiRealSource-MiMLS
• 2008-03-11 Listing Removed — REALCOMP
• 2007-08-15 Listed $54,900 REALCOMP
• 2007-08-10 Listed $54,900 MiRealSource-MiMLS
• 2006-08-01 Listing Removed — REALCOMP
• 2006-02-06 Listed $124,000 REALCOMP
• 2003-03-10 Sold (MLS) $78,000 MiRealSource-MiMLS
• 2003-02-26 Listing Removed — MiRealSource-MiMLS
• 2003-01-23 Listed $79,900 MiRealSource-MiMLS
• 2002-12-31 Listed $79,900 REALCOMP
• 2002-11-15 Listed $79,900 REALCOMP
• 2002-10-03 Listed $84,900 REALCOMP