16996 Grettel Ave · Fraser, MI 48026

$224,900

3 bd · 1.0 ba · 1,040 sqft · SingleFamily public records · 4 Days on market

Built 1961 7,405 sqft lot $216/sqft · 53% above area Est $261k · 14% under

---

Why this score? — see what drove the F 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).

• ARV discount +13.7/15.0
• Cash flow +5.1/30.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.5/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Meticulously maintained and updated Fraser brick ranch. Remodeled ceramic tiled bath. Eating space in large natural wood kitchen with all appliances included in sale. Partially finished basement with small dark room, washer and dryer. Big garage out back. Quality of construction shows through with the beautiful hardwood flooring. Dimensional shingled roof, newer 100 amp breakers, paint, vinyl trim, double pane windows, furnace and central air. All furniture is negotiable.

Key facts

• 7,405 sq ft lot
• 2 garage spots
• Built 1961

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Parking: Detached garage with garage door opener; Approximately 2.5 garage spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Brick construction
• Exterior features: Front porch; Fenced yard; Paved road access

Interior

• Kitchen: Dishwasher; Oven; Range; Refrigerator; Gas water heater
• Bedrooms: Total of 6 rooms (includes living areas and bedrooms)
• Flooring: Ceramic tile; Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Eat-in kitchen; High-speed internet; Window treatments; Finished basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $-517 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $134k (40.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (45.0% below list).
• Recommended offer: $124k (45.0% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 81/100 on livability (#68 in MI, #1,459 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, commute A-; Watch: amenities F.
• Fraser Public Schools (suburban): math 31% / reading 43% proficiency, ranked #244 of 540 in MI (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 66 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 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 $2k of loan paydown is wiped out by about $7k 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 4 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 $123,632 (45.0% 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. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 0.55% ✗
• Cap rate: 3.53%
• Cash-on-cash: -9.86%
• DSCR: 0.56
• GRM: 15.2

CMA / ARV

• ARV (median comp): $260,864
• List price: $224,900
• Delta: -13.79%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
33459 Garfield Rd	0.16mi	3/1.0	988 (-5%)	4mo	$165,000	$167	81
33043 Fraser Ave	0.30mi	3/1.0	988 (-5%)	1mo	$225,000	$228	77
17485 Hans Dr	0.26mi	3/1.5	1,080 (+4%)	4mo	$234,500	$217	76
33167 Janet	0.35mi	3/1.0	985 (-5%)	7mo	$220,000	$223	69
33103 Edgegrove Rd	0.51mi	3/1.0	1,100 (+6%)	0mo	$205,000	$186	66
33187 Fraser Ave	0.29mi	3/1.0	1,140 (+10%)	8mo	$165,000	$145	64
33524 Duncan Ave	0.26mi	2/1.0 (-1)	918 (-12%)	1mo	$103,000	$112	62
16572 Rosemary	0.47mi	3/1.5	1,134 (+9%)	3mo	$195,000	$172	59
17429 Hans Dr	0.21mi	3/2.0	936 (-10%)	14mo	$224,900	$240	58
33316 Fraser Ave	0.32mi	3/1.5	936 (-10%)	10mo	$210,000	$224	57
17204 Park Ln	0.49mi	3/1.0	900 (-14%)	3mo	$195,000	$217	52
33328 Fraser Ave	0.33mi	3/2.5	936 (-10%)	14mo	$280,000	$299	50

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: -34.0%
• Equity multiple: -0.10×
• Total profit: $-69,412
• Equity at exit: $33,533

10-year hold

• IRR: -42.9%
• Equity multiple: -0.63×
• Total profit: $-102,945
• Equity at exit: $19,445

Cash invested: $62,972 (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 48026

• Active inventory: 66
• Price-to-rent: 15.2×

Monthly cashflow live

• Estimated rent: $1,236 high
• Mortgage (P&I): −$1,179
• Tax from tax record: −$221 /mo · $2,651/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $-517

Break-even live

Break-even rent $1,891

Max offer price $133,509

Occupancy floor —

Sensitivity live

Price	-10% $-390	-5% $-454	+0% $-517	+5% $-581	+10% $-645
Rent	-10% $-615	-5% $-566	+0% $-517	+5% $-469	+10% $-420
Rate	-1.0pp $-404	-0.5pp $-460	base $-517	+0.5pp $-576	+1.0pp $-635

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: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16950 Kennedy Dr E Fraser, MI	1.0–2.0	1.0	755	$1,125	$1.49	15d	2	0.09mi
16951 General Ave Fraser, MI	2.0	1.0	900	$1,250	$1.39	5d	1	0.51mi
16525 Woodlane #138 Fraser, MI	2.0	2.0	1061	$1,400	$1.32	44d	1	0.71mi
34632 Mercer Ln Fraser, MI	2.0	1.0	894	$1,295	$1.45	3d	1	0.75mi
34917 Hamilton Dr Fraser, MI	2.0	1.0	800	$1,395	$1.74	25d	1	0.81mi
34673 Clarkson Dr E #78 Fraser, MI	2.0	1.0	808	$1,150	$1.42	22d	1	0.84mi
18600 14 Mile Rd Fraser, MI	2.0	1.0	1070	$1,195	$1.12	25d	1	0.85mi
18391 Masonic Apt 1 Fraser, MI	2.0	1.0	720	$995	$1.38	17d	1	0.92mi
16695 Washington Sq Clinton Twp, MI	1.0–2.0	1.0	760	$1,350	$1.78	44d	1	0.99mi
31577 Fraser Dr #3 Fraser, MI	2.0	1.0	950	$1,250	$1.32	44d	1	0.99mi
17134 E Thirteen Mile Rd Roseville, MI	1.0–2.0	1.0	825	$1,269	$1.54	2d	16	1.28mi
30773 Hidden Pines Ln Roseville, MI	2.0	2.0	1142	$1,500	$1.31	44d	1	1.35mi
30657 Hidden Pines Ln Roseville, MI	2.0	2.0	1174	$1,650	$1.41	20d	1	1.36mi
30583 Hidden Pines Ln Roseville, MI	2.0	2.0	1100	$1,250	$1.14	17d	1	1.38mi
30512 Oakridge Manor Dr Roseville, MI	2.0	1.5	1002	$1,350	$1.35	25d	1	1.46mi

Listing history 5 events

1. 2026-05-18
   status Pending 477-char remark

   Show marketing remark (477 chars)

   Meticulously maintained and updated Fraser brick ranch. Remodeled ceramic tiled bath. Eating space in large natural wood kitchen with all appliances included in sale. Partially finished basement with small dark room, washer and dryer. Big garage out back. Quality of construction shows through with the beautiful hardwood flooring. Dimensional shingled roof, newer 100 amp breakers, paint, vinyl trim, double pane windows, furnace and central air. All furniture is negotiable.

2. 2026-05-18
   status Pending 477-char remark

   Show marketing remark (477 chars)

   Meticulously maintained and updated Fraser brick ranch. Remodeled ceramic tiled bath. Eating space in large natural wood kitchen with all appliances included in sale. Partially finished basement with small dark room, washer and dryer. Big garage out back. Quality of construction shows through with the beautiful hardwood flooring. Dimensional shingled roof, newer 100 amp breakers, paint, vinyl trim, double pane windows, furnace and central air. All furniture is negotiable.

3. 2026-05-14
   listed $224,900 Active 477-char remark

   Show marketing remark (477 chars)

   Meticulously maintained and updated Fraser brick ranch. Remodeled ceramic tiled bath. Eating space in large natural wood kitchen with all appliances included in sale. Partially finished basement with small dark room, washer and dryer. Big garage out back. Quality of construction shows through with the beautiful hardwood flooring. Dimensional shingled roof, newer 100 amp breakers, paint, vinyl trim, double pane windows, furnace and central air. All furniture is negotiable.

4. 2026-05-14
   listed $224,900 Active 477-char remark

   Show marketing remark (477 chars)

   Meticulously maintained and updated Fraser brick ranch. Remodeled ceramic tiled bath. Eating space in large natural wood kitchen with all appliances included in sale. Partially finished basement with small dark room, washer and dryer. Big garage out back. Quality of construction shows through with the beautiful hardwood flooring. Dimensional shingled roof, newer 100 amp breakers, paint, vinyl trim, double pane windows, furnace and central air. All furniture is negotiable.

5. 2026-05-13
   historical $224,900 477-char remark

   Show marketing remark (477 chars)

   Meticulously maintained and updated Fraser brick ranch. Remodeled ceramic tiled bath. Eating space in large natural wood kitchen with all appliances included in sale. Partially finished basement with small dark room, washer and dryer. Big garage out back. Quality of construction shows through with the beautiful hardwood flooring. Dimensional shingled roof, newer 100 amp breakers, paint, vinyl trim, double pane windows, furnace and central air. All furniture is negotiable.

ⓘ 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: $2,651 · $221/mo
• Projected year-2 tax: $3,057 · $255/mo
• Expected delta: +$406/yr (+$34/mo · 15.3%)

ⓘ 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 ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,836
• − Mortgage interest: −$12,598
• − Property taxes: −$2,651
• − Insurance: −$1,124
• − Repairs & maintenance: −$1,187
• − Management: −$1,187
• − Depreciation: −$6,543
• Taxable loss: −$10,454
• Est. tax savings @ 24.0%: +$2,509
• After-tax cash flow: $-3,699/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: Fraser Public Schools
• NCES district ID: 2614820
• Math proficiency: 31% ▼ -12.00%
• Reading proficiency: 43% ▼ -10.00%
• Median HH income: $49,752
• Composite: 31.94/100
• National rank: #5846
• State rank: #244 of 540 in MI

Livability — Fraser

• Score: 81/100
• State rank: #68
• US rank: #1459

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fraser, MI
• City population: 14,604
• Population (ZIP): 14,604

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 (81%)
• Race & ethnicity: White 81% Black 9% Two or more races 6% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 18% Lithuanian 3% Slovak 3%
• Foreign-born: 7% · Canada, South Korea, China
• Languages at home: 89% English-only · Other Indo-European 4% Arabic 2% Spanish 1%

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: ▼ -210.50%
• Current HPI: 184.7521
• 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

+0.0% since first listed

5 events — show timeline

• 2026-05-18 Pending — REALCOMP
• 2026-05-18 Pending — MiRealSource-MiMLS
• 2026-05-14 Listed $224,900 REALCOMP
• 2026-05-14 Listed $224,900 MiRealSource-MiMLS
• 2026-05-13 Coming Soon $224,900 MiRealSource-MiMLS

Property tax history

+3.1%/yr

Latest (2025): $2,651 · +2.7% YoY. Source: county tax records.