517 John Anderson Ct #71 · Monroe, MI 48162

$55,000

1 bd · 1.0 ba · 641 sqft · Condo public records · 22 Days on market

Built 1968 $250/mo HOA · 26% 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 +26.3/30.0
• 1% rule +10.0/10.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Why rent when you can own? This super clean 1-bedroom condo in a centrally located Monroe community offers immediate occupancy and low-maintenance living at an affordable price point! Featuring brand new vinyl plank flooring throughout, fresh paint, and a bright, move-in ready interior, this condo is perfect for a first-time buyer, downsizer, or investor. Low HOA dues of only $250/month make ownership easy and affordable. Conveniently located near shopping, restaurants, and expressways for an easy commute. Just unpack and move right in! * No rentals are allowed.

Key facts

• Fresh paint
• Centrally located
• Move in ready

Tags

• VINYL PLANK FLOORING
• FRESH PAINT
• MOVE IN READY
• LOW MAINTENANCE LIVING
• CENTRALLY LOCATED
• LOW HOA DUES

Property features AI

Finance

• Other: Located in the Woodcrest Condo subdivision; Directions: N Telegraph to W Lorain to Woodcrest Condominiums
• HOA & community: Homeowners association with a $250 monthly fee

Exterior

• Parking: No garage; Carport
• Utilities: Public water; Public sewer
• Home design: Condominium (residential); One level; Upper-level entry
• Construction: Brick and vinyl siding exterior; Slab foundation; Built/finished above grade area: 641 square feet
• Exterior features: Paved road access; Pets not allowed; Upper-level entry with steps

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Total of 4 rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Electric heating; Natural gas heating; Wall unit cooling
• Interior features: Free-standing electric range; Free-standing refrigerator; Wall cooling unit; Baseboard, electric and natural gas heating
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $55k.

Deal economics

• At list price, monthly cash flow is $142 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($966 rent vs $55k).
• Recommended offer: $54k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.4% vs local median 4.0% in Monroe — 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 83/100 on livability (#51 in MI, #1,034 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, crime D+, amenities D+.
• Monroe Public Schools (suburban): math 24% / reading 47% proficiency, ranked #278 of 540 in MI (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 126 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 264 units permitted in Monroe County in 2024 (40 in 5+ unit buildings).
• This rent is only 17% of the median local income ($68k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Monroe County population projected at -20% 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 $15k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 10y ago; this cycle's ask has dropped $5k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $43k; 28% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 26% of rent.

Recommended offer $54,175 (1.5% below list)

Questions for the listing agent

1. Built in 1968 — 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 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?
6. 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?
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: 1.76% ✓
• Cap rate: 9.40%
• Cash-on-cash: 11.10%
• DSCR: 1.49
• GRM: 4.7

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: 0.5%
• Equity multiple: 1.02×
• Total profit: $319
• Equity at exit: $8,201

10-year hold

• IRR: 10.4%
• Equity multiple: 1.82×
• Total profit: $12,616
• Equity at exit: $4,755

Cash invested: $15,400 (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 48162

• Active inventory: 126
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $966 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$59 /mo · $710/yr
• Insurance: −$23
• HOA: −$250
• Vacancy / Maint / Mgmt: −$203
• Net cashflow: $142

Break-even live

Break-even rent $785

Max offer price $55,000

Occupancy floor 80%

Sensitivity live

Price	-10% $174	-5% $158	+0% $142	+5% $127	+10% $111
Rent	-10% $66	-5% $104	+0% $142	+5% $181	+10% $219
Rate	-1.0pp $170	-0.5pp $156	base $142	+0.5pp $128	+1.0pp $114

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1250 Josephine Ct Monroe, MI	1.0–2.0	1.0	792	$885	$1.12	5d	2	0.75mi
1318 Frank Dr Monroe, MI	3.0	1.0–2.5	1300	$1,265	$0.97	5d	6	0.81mi
1513 Stewart Rd Monroe, MI	1.0	1.0	761	$997	$1.31	25d	1	0.97mi
411 W 3rd St Unit 2 Monroe, MI	1.0	1.0	700	$700	$1.00	44d	1	1.08mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 32 events

1. 2026-06-19
   days on market $55,000 Active 22 DOM
2. 2026-06-18
   days on market $55,000 Active 21 DOM
3. 2026-06-17
   days on market $55,000 Active 20 DOM
4. 2026-06-16
   days on market $55,000 Active 19 DOM
5. 2026-06-15
   pricedays on market $55,000 Active 18 DOM
6. 2026-06-14
   days on market $60,000 Active 16 DOM
7. 2026-06-12
   days on market $60,000 Active 15 DOM
8. 2026-06-09
   days on market $60,000 Active 12 DOM
9. 2026-06-08
   days on market $60,000 Active 11 DOM
10. 2026-06-07
    days on market $60,000 Active 10 DOM
11. 2026-06-05
    days on market $60,000 Active 7 DOM
12. 2026-06-02
    days on market $60,000 Active 5 DOM
13. 2026-06-01
    days on market $60,000 Active 4 DOM
14. 2026-05-31
    days on market $60,000 Active 3 DOM
15. 2026-05-30
    days on market $60,000 Active 2 DOM
16. 2026-05-28
    listed $60,000 Active 569-char remark

    Show marketing remark (569 chars)

    Why rent when you can own? This super clean 1-bedroom condo in a centrally located Monroe community offers immediate occupancy and low-maintenance living at an affordable price point! Featuring brand new vinyl plank flooring throughout, fresh paint, and a bright, move-in ready interior, this condo is perfect for a first-time buyer, downsizer, or investor. Low HOA dues of only $250/month make ownership easy and affordable. Conveniently located near shopping, restaurants, and expressways for an easy commute. Just unpack and move right in! * No rentals are allowed.

17. 2026-05-28
    listed $60,000 Active

    Show marketing remark (569 chars)

    Why rent when you can own? This super clean 1-bedroom condo in a centrally located Monroe community offers immediate occupancy and low-maintenance living at an affordable price point! Featuring brand new vinyl plank flooring throughout, fresh paint, and a bright, move-in ready interior, this condo is perfect for a first-time buyer, downsizer, or investor. Low HOA dues of only $250/month make ownership easy and affordable. Conveniently located near shopping, restaurants, and expressways for an easy commute. Just unpack and move right in! * No rentals are allowed.

18. 2023-02-22
    soldstatus $42,900
19. 2023-02-17
    soldstatus $42,900 Closed 396-char remark

    Show marketing remark (396 chars)

    Enjoy maintenance free living in this updated condo! This quaint condo has all new flooring, baseboards, paint, and an updated kitchen and bathroom. Laundry facilities and an additional storage area are located on the lower level. As a resident, you'll receive an assigned parking space in the covered carport, use of the backyard and gazebo, and never have to shovel or plow your driveway again!

20. 2023-01-27
    status Pending 396-char remark

    Show marketing remark (396 chars)

    Enjoy maintenance free living in this updated condo! This quaint condo has all new flooring, baseboards, paint, and an updated kitchen and bathroom. Laundry facilities and an additional storage area are located on the lower level. As a resident, you'll receive an assigned parking space in the covered carport, use of the backyard and gazebo, and never have to shovel or plow your driveway again!

21. 2023-01-22
    listed $44,900 Active 396-char remark

    Show marketing remark (396 chars)

    Enjoy maintenance free living in this updated condo! This quaint condo has all new flooring, baseboards, paint, and an updated kitchen and bathroom. Laundry facilities and an additional storage area are located on the lower level. As a resident, you'll receive an assigned parking space in the covered carport, use of the backyard and gazebo, and never have to shovel or plow your driveway again!

22. 2022-04-20
    soldstatus $36,000 Closed
23. 2022-04-11
    status Pending
24. 2022-03-11
    historical Keep Showing-Contgcy Appl
25. 2022-03-04
    price $40,900
26. 2022-02-14
    status Active
27. 2022-02-10
    historical Keep Showing-Contgcy Appl
28. 2022-01-04
    listed $42,900 Active
29. 2021-12-13
    soldstatus $30,000
30. 2017-02-01
    soldstatus $25,000
31. 2017-01-30
    soldstatus $25,000 Closed
32. 2016-12-19
    listed $29,900 Active

ⓘ 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: $710 · $59/mo
• Projected year-2 tax: $779 · $65/mo
• Expected delta: +$68/yr (+$6/mo · 9.6%)

ⓘ 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 4/10 Moderate 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,589
• − Mortgage interest: −$3,081
• − Property taxes: −$710
• − Insurance: −$275
• − Repairs & maintenance: −$927
• − Management: −$927
• − HOA: −$3,000
• − Depreciation: −$1,600
• Taxable income: $1,068
• Est. tax owed @ 24.0%: −$256
• After-tax cash flow: $1,452/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: Monroe Public Schools
• NCES district ID: 2624150
• Math proficiency: 24% ▲ 3.00%
• Reading proficiency: 47% ▲ 12.00%
• Median HH income: $46,437
• Composite: 30.33/100
• National rank: #6269
• State rank: #278 of 540 in MI

Livability — Monroe

• Score: 83/100
• State rank: #51
• US rank: #1034

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Monroe, MI
• County: Monroe County · 54,460 people
• City population: 54,460
• Metro: Monroe, MI
• Population (ZIP): 28,156
• Household income: $67,876
• Rent vs Own: 23.4% rent · 76.6% own
• Severe rent burden: 828.0

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 144,439 people
• By 2030: 140,033 · -3.1%
• By 2040: 128,408 · -11.1%
• By 2050: 115,024 · -20.4%
• By 2075: 87,273 · -39.6%
• By 2100: 63,110 · -56.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 4% Black 3% Hispanic / Latino 3%
• Common ancestry: Lithuanian 7% Romanian 6% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Monroe

• 2024 margin: Strong R (+27.1) · D 35.7% · R 62.9% · Other 1.4%
• 2008→2024 swing: -31.5pp toward R · 2008: 4.3pp · 2024: -27.1pp
• All cycles: 2024: R+27.1 2020: R+22.6 2016: R+22.1 2012: D+1.0 2008: D+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -171.11%
• Current HPI: 138.1795
• Rent YoY: —
• Metro: Monroe, 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

+100.7% since first listed

17 events — show timeline

• 2026-05-28 Listed $60,000 REALCOMP
• 2026-05-28 Listed $60,000 MiRealSource-MiMLS
• 2023-02-22 Sold (Public Records) $42,900 Public Records
• 2023-02-17 Sold (MLS) $42,900 MiRealSource-MiMLS
• 2023-01-27 Pending — MiRealSource-MiMLS
• 2023-01-22 Listed $44,900 MiRealSource-MiMLS
• 2022-04-20 Sold (MLS) $36,000 MiRealSource-MiMLS
• 2022-04-11 Pending — MiRealSource-MiMLS
• 2022-03-11 Contingent — MiRealSource-MiMLS
• 2022-03-04 Price Changed $40,900 MiRealSource-MiMLS
• 2022-02-14 Relisted — MiRealSource-MiMLS
• 2022-02-10 Contingent — MiRealSource-MiMLS
• 2022-01-04 Listed $42,900 MiRealSource-MiMLS
• 2021-12-13 Sold (Public Records) $30,000 Public Records
• 2017-02-01 Sold (Public Records) $25,000 Public Records
• 2017-01-30 Sold (MLS) $25,000 MiRealSource-MiMLS
• 2016-12-19 Listed $29,900 MiRealSource-MiMLS

Property tax history

+11.0%/yr

Latest (2025): $710 · -46.9% YoY. Source: county tax records.