29900 N Grand Oaks Dr #29 · Warren, MI 48092

$123,000

2 bd · 1.0 ba · 1,110 sqft · Condo public records · 112 Days on market

Built 1987 $295/mo HOA · 18% 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 +16.3/30.0
• 1% rule +8.4/10.0
• ARV discount +7.5/15.0
• DSCR +5.0/10.0
• Rent growth +4.5/5.0
• Livability +3.7/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this charming two bedroom great room ranch condo in desirable Grand Oaks Village. The open floor plan offers comfortable, easy living and features a spacious great room with a door wall leading to a private outdoor patio - perfect for relaxing or entertaining. The unit includes a convenient carport. Enjoy the comfort of large interior hallways throughout the building, offering enclosed walking access to a generous common area. A well-maintained community with thoughtful amenities - ideal for low-maintenance living.

Key facts

• $295 HOA
• Built 1987
• Listed 112 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $123k.

Deal economics

• At list price, monthly cash flow is $67 ($800/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $123k).
• Recommended offer: $112k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.9% vs local median 5.2% in Warren — 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 (#171 in MI, #4,491 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities D, employment D, crime D-.
• Warren Consolidated Schools (urban): math 18% / reading 39% proficiency, ranked #373 of 540 in MI (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Green Acres Elementary School (math 20% / reading 39%, grade F, #866 of 1,397 statewide, top 65%, 486 students, 74% FRL); Beer Middle School (math 14% / reading 42%, grade F, #359 of 493 statewide, top 73%, 745 students, 76% FRL); Warren Mott High School (math 12% / reading 40%, grade F, #474 of 713 statewide, top 66%, 1,385 students, 73% FRL) — zoned schools average 74% FRL vs 48% district-wide (26 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+8.0%/yr); 102 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals leasing fast (median 13d 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

• Local home prices are declining (-3.0%/yr); year-one equity from $850 of loan paydown is wiped out by about $4k 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 + 8.0% rent growth), your $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 112 days — a 9% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 4y ago; this cycle's ask is 8100% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $94k; 30% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $111,930 (9.0% below list)

Questions for the listing agent

1. It's been on market 112 days. Have you received any prior offers? Is the seller open to a 9% 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. 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.34% ✓
• Cap rate: 6.94%
• Cash-on-cash: 2.32%
• DSCR: 1.10
• GRM: 6.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -4.9%
• Equity multiple: 0.80×
• Total profit: $-6,742
• Equity at exit: $18,340

10-year hold

• IRR: 11.4%
• Equity multiple: 2.17×
• Total profit: $40,171
• Equity at exit: $10,635

Cash invested: $34,440 (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 48092

• Rents YoY: 8.0%
• Active inventory: 102
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,643 high
• Mortgage (P&I): −$645
• Tax from tax record: −$240 /mo · $2,881/yr
• Insurance: −$51
• HOA: −$295
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $67

Break-even live

Break-even rent $1,559

Max offer price $123,000

Occupancy floor 91%

Sensitivity live

Price	-10% $136	-5% $101	+0% $67	+5% $32	+10% $-3
Rent	-10% $-63	-5% $2	+0% $67	+5% $132	+10% $196
Rate	-1.0pp $129	-0.5pp $98	base $67	+0.5pp $35	+1.0pp $2

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: $30,750
• Closing costs: $3,690
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
29745 Fox Run Cir Warren, MI	3.0	2.0	1487	$2,200	$1.48	45d	1	0.42mi
4473 Buchanan Ave Warren, MI	3.0	1.5	1064	$1,650	$1.55	26d	1	0.71mi
31499 Mound Rd Warren, MI	1.0–2.0	1.0	900	$1,413	$1.57	1d	6	0.90mi
28439 Wexford Dr Warren, MI	3.0	1.5	1253	$2,099	$1.68	26d	1	0.93mi
31779 Ryan Rd Warren, MI	3.0	1.0	1200	$1,800	$1.50	45d	1	1.01mi
5924 Chicago Rd Warren, MI	1.0	1.0	1000	$1,500	$1.50	5d	1	1.20mi
29408 Dequindre Rd Unit 203 Warren, MI	2.0	1.0	900	$1,145	$1.27	6d	1	1.23mi
29412 Dequindre Rd Unit 202 Warren, MI	1.0	1.0	700	$1,045	$1.49	6d	1	1.24mi
29392 Dequindre Rd Unit 104 Warren, MI	1.0	1.0	700	$945	$1.35	13d	1	1.25mi
29356 Dequindre Rd Warren, MI	1.0	1.0	700	$1,095	$1.56	45d	1	1.26mi
29336 Dequindre Rd Unit 103 Warren, MI	2.0	1.0	900	$1,245	$1.38	6d	1	1.33mi
14895 Twelve Mile Rd Warren, MI	1.0–2.0	1.0–1.5	1025	$1,560	$1.52	3d	4	1.45mi
29264 Tessmer Ct Madison Heights, MI	2.0	1.5	1128	$1,395	$1.24	45d	1	1.48mi

HOA detail condo

• Monthly dues: $295 · $3,540/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-05-19
   status Pending 531-char remark

   Show marketing remark (539 chars)

   Welcome to this charming two bedroom great room ranch condo in desirable Grand Oaks Village. The open floor plan offers comfortable, easy living and features a spacious great room with a door wall leading to a private outdoor patio—perfect for relaxing or entertaining. The unit includes a convenient carport. Enjoy the comfort of large interior hallways throughout the building, offering enclosed walking access to a generous common area. A well-maintained community with thoughtful amenities—ideal for low-maintenance living.

2. 2026-05-19
   status Pending 539-char remark

   Show marketing remark (539 chars)

   Welcome to this charming two bedroom great room ranch condo in desirable Grand Oaks Village. The open floor plan offers comfortable, easy living and features a spacious great room with a door wall leading to a private outdoor patio—perfect for relaxing or entertaining. The unit includes a convenient carport. Enjoy the comfort of large interior hallways throughout the building, offering enclosed walking access to a generous common area. A well-maintained community with thoughtful amenities—ideal for low-maintenance living.

3. 2026-04-02
   listed $1,500
4. 2026-03-11
   price $123,000 531-char remark

   Show marketing remark (531 chars)

   Welcome to this charming two bedroom great room ranch condo in desirable Grand Oaks Village. The open floor plan offers comfortable, easy living and features a spacious great room with a door wall leading to a private outdoor patio - perfect for relaxing or entertaining. The unit includes a convenient carport. Enjoy the comfort of large interior hallways throughout the building, offering enclosed walking access to a generous common area. A well-maintained community with thoughtful amenities - ideal for low-maintenance living.

5. 2026-03-10
   price $123,000 539-char remark

   Show marketing remark (539 chars)

   Welcome to this charming two bedroom great room ranch condo in desirable Grand Oaks Village. The open floor plan offers comfortable, easy living and features a spacious great room with a door wall leading to a private outdoor patio—perfect for relaxing or entertaining. The unit includes a convenient carport. Enjoy the comfort of large interior hallways throughout the building, offering enclosed walking access to a generous common area. A well-maintained community with thoughtful amenities—ideal for low-maintenance living.

6. 2026-02-17
   price $124,900 531-char remark

   Show marketing remark (531 chars)

   Welcome to this charming two bedroom great room ranch condo in desirable Grand Oaks Village. The open floor plan offers comfortable, easy living and features a spacious great room with a door wall leading to a private outdoor patio - perfect for relaxing or entertaining. The unit includes a convenient carport. Enjoy the comfort of large interior hallways throughout the building, offering enclosed walking access to a generous common area. A well-maintained community with thoughtful amenities - ideal for low-maintenance living.

7. 2026-02-16
   price $124,900 539-char remark

   Show marketing remark (539 chars)

   Welcome to this charming two bedroom great room ranch condo in desirable Grand Oaks Village. The open floor plan offers comfortable, easy living and features a spacious great room with a door wall leading to a private outdoor patio—perfect for relaxing or entertaining. The unit includes a convenient carport. Enjoy the comfort of large interior hallways throughout the building, offering enclosed walking access to a generous common area. A well-maintained community with thoughtful amenities—ideal for low-maintenance living.

8. 2026-01-28
   listed $129,900 Active 539-char remark

   Show marketing remark (539 chars)

   Welcome to this charming two bedroom great room ranch condo in desirable Grand Oaks Village. The open floor plan offers comfortable, easy living and features a spacious great room with a door wall leading to a private outdoor patio—perfect for relaxing or entertaining. The unit includes a convenient carport. Enjoy the comfort of large interior hallways throughout the building, offering enclosed walking access to a generous common area. A well-maintained community with thoughtful amenities—ideal for low-maintenance living.

9. 2026-01-27
   listed $129,900 Active 531-char remark

   Show marketing remark (531 chars)

   Welcome to this charming two bedroom great room ranch condo in desirable Grand Oaks Village. The open floor plan offers comfortable, easy living and features a spacious great room with a door wall leading to a private outdoor patio - perfect for relaxing or entertaining. The unit includes a convenient carport. Enjoy the comfort of large interior hallways throughout the building, offering enclosed walking access to a generous common area. A well-maintained community with thoughtful amenities - ideal for low-maintenance living.

10. 2023-04-10
    soldstatus $94,500 Closed
11. 2023-03-15
    soldstatus $91,500
12. 2023-02-02
    status Pending
13. 2022-12-12
    price $94,900
14. 2022-11-27
    listed $99,900 Active
15. 2019-06-27
    soldstatus $85,000
16. 1990-10-18
    soldstatus $62,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $2,881 · $240/mo
• Projected year-2 tax: $2,881 · $240/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 ≥97°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: $19,717
• − Mortgage interest: −$6,890
• − Property taxes: −$2,881
• − Insurance: −$615
• − Repairs & maintenance: −$1,577
• − Management: −$1,577
• − HOA: −$3,540
• − Depreciation: −$3,578
• Taxable loss: −$942
• Est. tax savings @ 24.0%: +$226
• After-tax cash flow: $1,026/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: Warren Consolidated Schools
• NCES district ID: 2635190
• Math proficiency: 18% ▼ -14.00%
• Reading proficiency: 39% ▼ -8.00%
• Median HH income: $52,259
• Composite: 25.09/100
• National rank: #7533
• State rank: #373 of 540 in MI

Livability — Warren

• Score: 74/100
• State rank: #171
• US rank: #4491

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Warren, MI
• County: Macomb County · 638,552 people
• City population: 114,937
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 27,374
• Household income: $73,808
• Rent vs Own: 22.3% rent · 77.7% own
• Severe rent burden: 675.0

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: Diverse neighborhood (Simpson 0.55)
• Race & ethnicity: White 63% Asian 17% Black 14% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 10% Arab 4% Subsaharan African 2%
• Foreign-born: 22% · Vietnam, Canada, China
• Languages at home: 70% English-only · Other Indo-European 11% Arabic 5% Russian/Polish/Slavic 3%

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: ▼ -262.85%
• Current HPI: 189.7524
• Rent YoY: ▲ 8.03%
• 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

-97.6% since first listed

16 events — show timeline

• 2026-05-19 Pending — MiRealSource-MiMLS
• 2026-05-19 Pending — REALCOMP
• 2026-04-02 Listed for Rent $1,500 REALSOURCE
• 2026-03-11 Price Changed $123,000 MiRealSource-MiMLS
• 2026-03-10 Price Changed $123,000 REALCOMP
• 2026-02-17 Price Changed $124,900 MiRealSource-MiMLS
• 2026-02-16 Price Changed $124,900 REALCOMP
• 2026-01-28 Listed $129,900 REALCOMP
• 2026-01-27 Listed $129,900 MiRealSource-MiMLS
• 2023-04-10 Sold (MLS) $94,500 MiRealSource-MiMLS
• 2023-03-15 Sold (Public Records) $91,500 Public Records
• 2023-02-02 Pending — MiRealSource-MiMLS
• 2022-12-12 Price Changed $94,900 MiRealSource-MiMLS
• 2022-11-27 Listed $99,900 MiRealSource-MiMLS
• 2019-06-27 Sold (Public Records) $85,000 Public Records
• 1990-10-18 Sold (Public Records) $62,000 Public Records

Property tax history

+11.0%/yr

Latest (2025): $2,881 · +2.6% YoY. Source: county tax records.