29472 Hoover Rd · Warren, MI 48093

$69,900

1 bd · 1.0 ba · 767 sqft · Condo · 11 Days on market

Built 1965 Poor condition $196/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 +26.2/30.0
• 1% rule +10.0/10.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• Schools +2.7/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2nd apt style unit. private laundry area, Washer included in the sale. Asso. fee includes heat, water, exterior maint. , clubhouse and pool. stove & fridge a bonus!

Key facts

• $196 HOA
• Garage
• Built 1965

Property features AI

Finance

• Other: Property type: Residential
• HOA & community: Homeowners association with a monthly fee of $196

Exterior

• Parking: Carport; 1-car garage
• Utilities: Public water; Public sewer
• Home design: Condominium; One story
• Construction: Brick construction; Above-grade finished area approximately 767 square feet
• Exterior features: No pool; Subdivision: PRESIDENT VILLAGE; Located north of 12 Mile on the east side of Hoover

Interior

• Bedrooms: Total of 5 rooms (bedrooms included)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Full basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $70k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $178 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Cap rate 9.3% vs local median 5.3% 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: schools D, amenities D, employment D.
• Warren Woods Public Schools (urban): math 23% / reading 40% proficiency, ranked #336 of 540 in MI (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.5%/yr); 122 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $483 of loan paydown is wiped out by about $2k 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 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.
• Current owner paid $60k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $69,900

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
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: 1.55% ✓
• Cap rate: 9.34%
• Cash-on-cash: 10.90%
• DSCR: 1.48
• GRM: 5.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.52% rent growth · sell at horizon

5-year hold

• IRR: -0.5%
• Equity multiple: 0.98×
• Total profit: $-392
• Equity at exit: $10,422

10-year hold

• IRR: 8.7%
• Equity multiple: 1.65×
• Total profit: $12,672
• Equity at exit: $6,044

Cash invested: $19,572 (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 48093

• Rents YoY: 2.5%
• Active inventory: 122
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,085 high
• Mortgage (P&I): −$367
• Tax est. 1.5%: −$87 /mo · $1,048/yr
• Insurance: −$29
• HOA: −$196
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $178

Break-even live

Break-even rent $860

Max offer price $69,900

Occupancy floor 79%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28801 Imperial Dr Warren, MI	1.0–2.0	1.0	887	$975	$1.10	16d	6	0.36mi
28250 Hoover Rd Warren, MI	1.0–2.0	1.0–2.0	912	$1,045	$1.15	2d	17	0.51mi
29250 Longview Ave Apt 14 Warren, MI	2.0	1.0	950	$1,000	$1.05	43d	1	0.81mi
29206 Longview Ave Warren, MI	1.0	1.0	750	$975	$1.30	24d	1	0.82mi
29158 Longview Ave Warren, MI	1.0	1.0	750	$950	$1.27	43d	1	0.83mi
29400 Towne Center Cir Warren, MI	1.0–3.0	1.0–2.0	1114	$1,399	$1.26	1d	1	0.86mi
8657 Kennedy Cir #7 Warren, MI	1.0	1.0	805	$1,300	$1.61	3d	1	0.94mi
27239 Hoover Rd Warren, MI	1.0–2.0	1.0	670	$845	$1.26	43d	1	1.06mi
31727 Hoover Rd Unit 21 Warren, MI	2.0	1.0	900	$1,395	$1.55	4d	1	1.21mi
28012 Van Dyke Ave Warren, MI	1.0	1.0	695	$945	$1.36	24d	1	1.29mi
13006 E 11 Mile Rd Unit 6 Warren, MI	2.0	1.0	850	$1,050	$1.24	43d	1	1.44mi
13006 E 11 Mile Rd Unit 6 Warren, MI	2.0	1.0	850	$1,075	$1.26	14d	1	1.44mi
31250 Schoenherr Rd Warren, MI	1.0–2.0	1.0–2.0	934	$1,000	$1.07	43d	2	1.45mi

HOA detail condo

• Monthly dues: $196 · $2,352/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-08
   statusdays on market $69,900 Pending 11 DOM
2. 2026-06-07
   days on market $69,900 Active 10 DOM
3. 2026-06-04
   days on market $69,900 Active 7 DOM
4. 2026-06-03
   days on market $69,900 Active 6 DOM
5. 2026-06-02
   days on market $69,900 Active 5 DOM
6. 2026-06-01
   days on market $69,900 Active 4 DOM
7. 2026-05-31
   days on market $69,900 Active 3 DOM
8. 2026-05-28
   listed $69,900 Active
9. 2002-07-08
   soldstatus $59,500 170-char remark

   Show marketing remark (170 chars)

   2nd apt style unit. private laundry area, Washer included in the sale. Asso. fee includes heat, water, exterior maint. , clubhouse and pool. stove & fridge a bonus!

10. 2002-04-29
    historical 170-char remark

    Show marketing remark (170 chars)

    2nd apt style unit. private laundry area, Washer included in the sale. Asso. fee includes heat, water, exterior maint. , clubhouse and pool. stove & fridge a bonus!

11. 2002-03-18
    listed $61,500 170-char remark

    Show marketing remark (170 chars)

    2nd apt style unit. private laundry area, Washer included in the sale. Asso. fee includes heat, water, exterior maint. , clubhouse and pool. stove & fridge a bonus!

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

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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,015
• − Mortgage interest: −$3,915
• − Property taxes: −$1,048
• − Insurance: −$350
• − Repairs & maintenance: −$1,041
• − Management: −$1,041
• − HOA: −$2,352
• − Depreciation: −$2,033
• Taxable income: $1,233
• Est. tax owed @ 24.0%: −$296
• After-tax cash flow: $1,837/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

Poor 20/100 Extensive rehab

This property requires extensive structural repairs and rebuilding to be habitable and marketable. Significant investment is needed to bring it up to code and make it move-in ready.

Repairs flagged

• Major Exterior framing — Exposed wooden framing indicates significant structural damage
• Major Interior framing — Exposed wooden framing indicates significant structural damage
• Major Roof — No roof visible, indicating potential structural issues
• Major Exterior siding — No siding visible, indicating potential structural issues
• Major Windows — No windows visible, indicating potential structural issues
• Major HVAC/mechanicals — No HVAC or mechanicals visible, indicating potential structural issues

Value-add opportunities

• Both Rebuild exterior framing and siding — Structural repairs are critical for both resale and rental value
• Both Rebuild interior framing and walls — Structural repairs are critical for both resale and rental value
• Both Install new roof — Structural repairs are critical for both resale and rental value
• Both Install new windows — Structural repairs are critical for both resale and rental value
• Both Install new HVAC and mechanicals — Structural repairs are critical for both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior framing · Exposed wooden framing indicates significant structural damage	Major	$15,000–50,000
Interior framing · Exposed wooden framing indicates significant structural damage	Major	$15,000–50,000
Roof · No roof visible, indicating potential structural issues	Major	$15,000–50,000
Exterior siding · No siding visible, indicating potential structural issues	Major	$15,000–50,000
Windows · No windows visible, indicating potential structural issues	Major	$15,000–50,000
HVAC/mechanicals · No HVAC or mechanicals visible, indicating potential structural issues	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both Rebuild exterior framing and siding — Structural repairs are critical for both resale and rental value ↑
• Both Rebuild interior framing and walls — Structural repairs are critical for both resale and rental value ↑
• Both Install new roof — Structural repairs are critical for both resale and rental value ↑
• Both Install new windows — Structural repairs are critical for both resale and rental value ↑
• Both Install new HVAC and mechanicals — Structural repairs are critical for both resale and rental 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: Warren Woods Public Schools
• NCES district ID: 2635220
• Math proficiency: 23% ▼ -9.00%
• Reading proficiency: 40% ▼ -5.00%
• Median HH income: $49,013
• Composite: 27.29/100
• National rank: #7003
• State rank: #336 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): 25,014
• Household income: $68,218
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 632.0

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 (66%)
• Race & ethnicity: White 66% Black 18% Asian 9% Two or more races 6% Hispanic / Latino 1%
• Common ancestry: Romanian 14% Lithuanian 3% Arab 2%
• Foreign-born: 15% · Vietnam, Canada, China
• Languages at home: 80% English-only · Other Indo-European 5% Arabic 4% Russian/Polish/Slavic 4%

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: ▼ -223.26%
• Current HPI: 203.6554
• Rent YoY: ▲ 2.52%
• 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

+13.7% since first listed

4 events — show timeline

• 2026-05-28 Listed $69,900 REALCOMP
• 2002-07-08 Sold (MLS) $59,500 MiRealSource-MiMLS
• 2002-04-29 Listing Removed — MiRealSource-MiMLS
• 2002-03-18 Listed $61,500 MiRealSource-MiMLS