23517 Baker St · Taylor, MI 48180 3405

$65,000

2 bd · 1.5 ba · 744 sqft · Condo · 1 Days on market

Built 1970 $630/mo HOA · 44% 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 +17.7/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.5/10.0
• Appreciation +5.0/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0

Listing remarks MLS

Co op features 2 bedroom, 1 and 1/2 bath unit 744 sq ft. The unit has hardwood floors and fresh paint. Kitchen updates include new flooring, granite counters, new pull out faucet, composite sink, light fixtures. Bathroom upgrades include new tub/walls insert, new floors, light fixtures and accessories. Monthly dues include taxes, building insurance, water, gas, lawn maintenance, snow removal, furnace repairs, hot water tank, roof, outside maintenance, and AC. Dues are $565 a month. There is a club house available for members to rent. Members carry personal property insurance. Units are not able to be rented.

Key facts

• Private patio
• Assigned parking
• Pet friendly

Tags

• PRIVATE PATIO
• VERSATILE BASEMENT WORKSPACE
• ASSIGNED PARKING
• AMPLE VISITOR PARKING
• PET FRIENDLY

Property features AI

Finance

• Other: Pets allowed (cats and dogs) with size limits
• HOA & community: Monthly association fee of $630; Association fee covers gas, lawn maintenance, snow removal, water/sewer, and clubhouse; Community amenities include clubhouse and laundry facility; Association fee is required; association phone available

Exterior

• Parking: 1 parking space
• Utilities: Public water; Public sewer (included in association fee); Natural gas; Electric service (standard, not otherwise specified)
• Home design: Condominium; 2-story structure; Built in 1970; Basement foundation
• Construction: Brick and vinyl siding exterior; Asphalt (roof or exterior material noted)
• Exterior features: Patio; Porch; Paved street access

Interior

• Kitchen: Kitchen on entry level about 10 x 9 with linoleum; Range/Oven; Refrigerator
• Bedrooms: Primary bedroom on the second floor, approximately 14 x 12 with carpet; Second bedroom on the second floor, approximately 10 x 9 with carpet
• Flooring: Carpet in bedrooms; Wood flooring in living room; Linoleum in kitchen and bathrooms
• Bathrooms: One full bathroom; Two total baths/lavatories; Entry-level lavatory approximately 4 x 7 with linoleum; Second-level bathroom approximately 5 x 7 with linoleum
• Heating & cooling: Forced air heating; Central A/C; Natural gas heat/fuel; Gas water heater
• Interior features: Total of 6 rooms; Unfinished basement
• Laundry & utility: Basement present (unfinished) — utility/laundry access likely in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $65k.

Deal economics

• At list price, monthly cash flow is $52 ($624/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Cap rate 7.3% vs local median 5.4% in Taylor — 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 76/100 on livability (#144 in MI, #3,684 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, schools F, crime F.
• Taylor School District (urban): math 14% / reading 27% proficiency, ranked #462 of 540 in MI (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 1 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($449 loan paydown + $2k appreciation (3.0% local appreciation)).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y ago; this cycle's ask is 142% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $27k; list at $65k implies a 142% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 44% of rent.

Recommended offer $65,000

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. Crime grade is F 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?
7. 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.
8. 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.
9. 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: 2.20% ✓
• Cap rate: 7.25%
• Cash-on-cash: 3.43%
• DSCR: 1.15
• GRM: 3.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 11.1%
• Equity multiple: 1.63×
• Total profit: $11,548
• Equity at exit: $29,227

10-year hold

• IRR: 13.6%
• Equity multiple: 3.04×
• Total profit: $37,045
• Equity at exit: $45,042

Cash invested: $18,200 (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 48180 3405

• Active inventory: 1
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,432 medium
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$630
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $52

Break-even live

Break-even rent $1,366

Max offer price $65,000

Occupancy floor 91%

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24268 Haskell St Taylor, MI	1.0–2.0	1.0	880	$1,565	$1.78	1d	8	0.85mi
7873 Syracuse St Taylor, MI	2.0	1.0	728	$1,400	$1.92	43d	1	1.07mi
12555 Pine St Taylor, MI	1.0–3.0	1.0–1.5	830	$1,268	$1.53	1d	1	1.42mi

HOA detail condo

• Monthly dues: $630 · $7,560/yr
• Likely covers: watergassnow removalinsurance
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-19
   remarks 699-char remark
2. 2026-06-19
   listed $65,000 Coming Soon 1 DOM

ⓘ 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: $17,182
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$1,375
• − Management: −$1,375
• − HOA: −$7,560
• − Depreciation: −$1,891
• Taxable income: $41
• Est. tax owed @ 24.0%: −$10
• After-tax cash flow: $614/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.

Schools (NCES district)

• District: Taylor School District
• NCES district ID: 2633540
• Math proficiency: 14% ▼ -7.00%
• Reading proficiency: 27% ▼ -4.00%
• Median HH income: $43,062
• Composite: 17.62/100
• National rank: #9034
• State rank: #462 of 540 in MI

Livability — Taylor

• Score: 76/100
• State rank: #144
• US rank: #3684

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Taylor, MI

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 1,675,273 people
• By 2030: 1,620,300 · -3.3%
• By 2040: 1,502,341 · -10.3%
• By 2050: 1,384,039 · -17.4%
• By 2075: 1,124,592 · -32.9%
• By 2100: 881,193 · -47.4%

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

+141.6% since first listed

7 events — show timeline

• 2026-06-18 Coming Soon $65,000 MiRealSource-MiMLS
• 2018-07-24 Sold (MLS) $26,900 MiRealSource-MiMLS
• 2018-07-24 Sold (MLS) $26,900 REALCOMP
• 2018-07-04 Pending — MiRealSource-MiMLS
• 2018-07-03 Pending — REALCOMP
• 2018-06-22 Listed $26,900 MiRealSource-MiMLS
• 2018-06-22 Listed $26,900 REALCOMP