Is 29200 Gloede Dr in Warren, MI a good investment?

CashFlowRE grades it B with a 13.3% cap rate and $365/mo modeled cash flow at a $62,500 list price. See the full underwriting and recommended offer on the page.

What is the cap rate for 29200 Gloede Dr?

The modeled cap rate is 13.3% — annual NOI divided by price, using CashFlowRE's rent and expense estimates.

What would this property rent for?

Estimated market rent is $1,439/month, from CashFlowRE's rent model.

B Composite 73.88

Why this score? — see what drove the B 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 +30.0/30.0
1% rule +10.0/10.0
DSCR +10.0/10.0
ARV discount +7.5/15.0
Appreciation +5.0/10.0
Livability +3.7/5.0
Schools +2.9/10.0
Rent growth +2.5/5.0
Condition / age +2.2/5.0

$62,500

29200 Gloede Dr · Warren, MI 48088 4031

1 bd · 1.0 ba · 1,392 sqft · Townhouse · 143 Days on market

Built 1968 Fair condition $45/sqft · 64% below area $340/mo HOA · 24% of rent

🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence

Listing remarks MLS

Cozy 1 bed, 1 bath condo in Roseville - perfect for low-maintenance living or a great investment opportunity! Features a comfortable layout, spacious bedroom, and convenient location close to shopping, dining, and major freeways. Move right in or make it your own! BATVAI SUBJECT TO PROBATE - FYI - Short term rentals no allowed, can do rentals after 2 years.

Key facts

Close to dining
Convenient location
Close to shopping

What this means for you Summary

Snapshot

This is a 1-bed/1.0-bath townhouse listed at $62k. Condition is rated fair.

Deal economics

At list price, monthly cash flow is $365 ($4k/yr) — positive.
The deal already cash-flows at list — no discount required.
Meets the 1% rule at list price ($1k rent vs $62k).
Recommended offer: $55k (12.0% below list) — sets the bar for market timing.
Cap rate 13.3% vs local median 4.9% 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 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.
Zoned schools: Pinewood Elementary School (math 22% / reading 32%, grade F, #923 of 1,397 statewide, top 69%, 396 students, 68% FRL); Warren Woods Middle School (math 22% / reading 41%, grade F, #323 of 493 statewide, top 66%, 707 students, 67% FRL); Warren Woods Tower High School (math 26% / reading 50%, grade F, #331 of 713 statewide, top 46%, 1,047 students, 59% FRL) — zoned schools average 65% FRL vs 43% district-wide (22 pts higher); higher-poverty schools than district average — tighter screening recommended.
Market conditions: 1 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 55d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,321 units permitted in Macomb County in 2024 (86 in 5+ unit buildings).

Forward outlook

In year one you build about $2k of equity ($432 loan paydown + $2k appreciation (3.0% local appreciation)).
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 + 3.0% rent growth), your $18k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

It's been on market 143 days — a 12% lower offer ($55k) is reasonable based on typical stale-listing flexibility.
39 sale attempts since 20y ago; this cycle's ask has dropped $8k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
Current owner paid $44k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

Watch-outs: HOA is 24% of rent.

Recommended offer $55,000 (12.0% below list)

Questions for the listing agent

It's been on market 143 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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?
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?
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.
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.
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: 2.30% ✓
Cap rate: 13.29%
Cash-on-cash: 25.00%
DSCR: 2.11
GRM: 3.6

CMA / ARV

ARV (median comp): $171,913
List price: $62,500
Delta: -63.64%
Verdict: UNDERPRICED
Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
29264 Gloede Dr	0.05mi	2/1.0 (+1)	1,400 (+1%)	13mo	$113,000	$81	81
15195 La Grande Plz	0.30mi	2/1.5 (+1)	1,480 (+6%)	3mo	$215,000	$145	66
15180 Raphael Ter	0.22mi	2/1.5 (+1)	1,225 (-12%)	6mo	$198,500	$162	58
29335 Yorkshire Ln	0.59mi	2/1.5 (+1)	1,339 (-4%)	5mo	$231,000	$173	55
29417 Scarborough Dr	0.50mi	2/1.5 (+1)	1,573 (+13%)	3mo	$212,000	$135	45
29359 Yorkshire Ln	0.59mi	2/1.0 (+1)	1,227 (-12%)	11mo	$183,000	$149	39
13939 Harrington Dr	0.51mi	2/1.5 (+1)	1,215 (-13%)	13mo	$175,000	$144	37

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: 31.2%
Equity multiple: 2.77×
Total profit: $30,979
Equity at exit: $28,103

10-year hold

IRR: 31.7%
Equity multiple: 5.46×
Total profit: $78,068
Equity at exit: $43,310

Cash invested: $17,500 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

For sale now: 3 active · 2 under contract
Months of supply: 6.0 mo (17%/mo absorbed)
Median asking: $200,000 ($125/sqft)
Median days on market: 53 d
This list price: lowest-priced of the active set
ARV vs active asking: -1.1% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 48088 4031

Active inventory: 1
Price-to-rent: 3.6×

Monthly cashflow live

Estimated rent: $1,439 high interval (Pro) →
Mortgage (P&I): −$328
Tax est. 1.5%: −$78 /mo · $938/yr
Insurance: −$26
HOA: −$340
Lot rent: −$0
Vacancy / Maint / Mgmt: −$302
Net cashflow: $365

Break-even live

Break-even rent $977

Max offer price $62,500

Occupancy floor 70%

Sensitivity live

Price	-10% $408	-5% $386	+0% $365	+5% $343	+10% $321
Rent	-10% $251	-5% $308	+0% $365	+5% $421	+10% $478
Rate	-1.0pp $396	-0.5pp $380	base $365	+0.5pp $348	+1.0pp $332

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: $15,625
Closing costs: $1,875
Club membership (one-time): —
Reserves months: —
Total cash needed: —

Loan-product check · same deal, 3 products live

Conventional

25% down · 7.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Personal DTI + credit; lowest rate.

DSCR

20% down · 8.5% · 30yr

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

No personal income docs; deal must DSCR.

Hard money

10% down · 12.0% · 12mo

Cash invested: —
Monthly P&I: —
Monthly cashflow: —
DSCR: —
Eligible?: —

Short-term bridge; refi at stabilization.

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
29125 Hayes Rd Warren, MI	2.0	1.0	900	$1,295	$1.44	54d	1	0.24mi
29105 Yorkshire Ln Warren, MI	2.0	1.5	1152	$2,000	$1.74	72d	1	0.58mi
16651 Twelve Mile Rd Roseville, MI	2.0	1.5	871	$1,490	$1.71	0d	1	1.07mi
31250 Schoenherr Rd Warren, MI	1.0–2.0	1.0–2.0	934	$1,000	$1.07	139d	2	1.10mi
28801 Imperial Dr Warren, MI	1.0–2.0	1.0	887	$991	$1.12	7d	6	1.48mi
28603 Rosemont St Roseville, MI	2.0	1.0	912	$1,500	$1.64	2d	1	1.48mi

Property features AI

Finance

HOA & community: Homeowners association with monthly feeAssociation amenities include pool, laundry, storage, and grounds maintenance

Exterior

Parking: On-street parkingAssigned and unassigned parking options
Utilities: Public waterPublic sewer
Home design: CondominiumOne levelResidential propertyLocated in LANCASTER WOODS subdivisionFaces private road / access via private maintained road (paved)
Construction: Brick constructionBasement with concrete floor and storage space
Exterior features: PatioCommunity outdoor in-ground pool

Interior

Kitchen: DishwasherMicrowaveOvenRangeRefrigerator
Flooring: Ceramic tile
Bathrooms: One full bathroom
Heating & cooling: Has heating (space heater)Has cooling (ceiling fan(s))
Interior features: Entrance foyerHigh-speed internetWalk-in closet(s)Furnished
Laundry & utility: Common area laundry

Listing history 50 events

2026-09-24

days on market $62,500 Active 143 DOM
2026-09-23

days on market $62,500 Active 142 DOM
2026-09-22

days on market $62,500 Active 141 DOM
2026-09-21

days on market $62,500 Active 140 DOM
2026-09-20

days on market $62,500 Active 139 DOM
2026-09-19

days on market $62,500 Active 138 DOM
2026-09-18

days on market $62,500 Active 137 DOM
2026-09-17

days on market $62,500 Active 136 DOM
2026-09-16

days on market $62,500 Active 135 DOM
2026-09-15

days on market $62,500 Active 134 DOM
2026-09-14

days on market $62,500 Active 133 DOM
2026-09-13

days on market $62,500 Active 132 DOM
2026-09-12

days on market $62,500 Active 131 DOM
2026-09-11

days on market $62,500 Active 130 DOM
2026-09-05

days on market $62,500 Active 124 DOM
2026-09-04

days on market $62,500 Active 123 DOM
2026-09-03

days on market $62,500 Active 122 DOM
2026-08-31

days on market $62,500 Active 119 DOM
2026-08-30

days on market $62,500 Active 118 DOM
2026-08-29

days on market $62,500 Active 117 DOM
2026-08-28

days on market $62,500 Active 116 DOM
2026-08-27

days on market $62,500 Active 115 DOM
2026-08-25

days on market $62,500 Active 113 DOM
2026-08-24

days on market $62,500 Active 112 DOM
2026-08-23

days on market $62,500 Active 111 DOM
2026-08-22

days on market $62,500 Active 110 DOM
2026-08-21

days on market $62,500 Active 109 DOM
2026-08-20

days on market $62,500 Active 108 DOM
2026-08-19

days on market $62,500 Active 107 DOM
2026-08-18

days on market $62,500 Active 106 DOM
2026-08-17

days on market $62,500 Active 105 DOM
2026-08-16

days on market $62,500 Active 104 DOM
2026-08-15

days on market $62,500 Active 103 DOM
2026-08-14

days on market $62,500 Active 102 DOM
2026-08-13

days on market $62,500 Active 101 DOM
2026-08-12

days on market $62,500 Active 100 DOM
2026-08-11

days on market $62,500 Active 99 DOM
2026-08-10

days on market $62,500 Active 98 DOM
2026-08-09

days on market $62,500 Active 97 DOM
2026-08-08

days on market $62,500 Active 96 DOM
2026-08-06

days on market $62,500 Active 94 DOM
2026-08-05

days on market $62,500 Active 93 DOM
2026-08-04

days on market $62,500 Active 92 DOM
2026-08-03

days on market $62,500 Active 91 DOM
2026-07-31

days on market $62,500 Active 88 DOM
2026-07-30

days on market $62,500 Active 87 DOM
2026-07-30

days on market $62,500 Active 86 DOM
2026-07-28

days on market $62,500 Active 85 DOM
2026-07-26

days on market $62,500 Active 83 DOM
2026-07-24

days on market $62,500 Active 81 DOM

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

Nearby sold comps map

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Walkable amenities ~0.75 mi

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Taxation est. · year 1

Rental income: $17,263
− Mortgage interest: −$3,501
− Property taxes: −$938
− Insurance: −$312
− Repairs & maintenance: −$1,381
− Management: −$1,381
− HOA: −$4,080
− Depreciation: −$1,818
Taxable income: $3,852

Your marginal tax rate % combined federal + state — saved on this device

Est. tax owed @ 24.0%: −$924
After-tax cash flow: $3,450/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 · 12 photos

Fair 45/100 Cosmetic rehab Est. rehab $6,960–$20,880 screening

A fair condition, low-maintenance condo with potential for cosmetic upgrades to boost value.

Repairs flagged

Minor exterior siding — Weathered brick siding
Minor interior paint — Slight wear on paint
Minor flooring — Carpeted floors show some wear

Value-add opportunities

Resale Paint exterior — Enhances curb appeal ↑
Rental Replace carpet — Improves comfort and reduces maintenance ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 29/100

Zoned Schools

Elementary Pinewood Elementary School F MI #923/1,397 Nat'l #28,475/41,679 Middle Warren Woods Middle School F MI #323/493 Nat'l #8,497/14,009 High Warren Woods Adult Education

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

B Composite livability gradescore 74/100

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

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%

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
#249 Lear Southfield $23.5B #250 BorgWarner Auburn Hills $14.2B #306 Autolivery Auburn Hills $10.4B
Automotive	2	$372B
#18 General Motors Detroit $187.4B #19 Ford Motor Dearborn $185.0B
Chemicals	1	$45B
#102 Dow Midland $44.6B
Automotive Retail	1	$29B
#225 Penske Automotive Group Bloomfield Hills $29.4B
Healthcare / Medical Devices	1	$23B
#156 Stryker Kalamazoo $22.6B
Automotive Technology	1	$20B
#341 Aptiv Dublin $19.8B

Price history

+4.3% since first listed

89 events — show timeline

2026-06-25 Price Changed $62,500 MiRealSource-MiMLS
2026-06-25 Price Changed $62,500 REALCOMP
2026-05-27 Relisted — REALCOMP
2026-05-25 Relisted — MiRealSource-MiMLS
2026-05-18 Listing Removed — REALCOMP
2026-05-11 Contingent — MiRealSource-MiMLS
2026-05-11 Contingent — REALCOMP
2026-05-04 Listed $70,000 REALCOMP
2026-05-04 Listed $70,000 MiRealSource-MiMLS
2026-04-07 Price Changed $74,900 REALCOMP
2026-02-18 Listed $79,000 REALCOMP
2020-03-23 Sold (MLS) $44,000 REALCOMP
2020-02-20 Listed $46,000 REALCOMP
2019-04-18 Sold (MLS) $44,900 REALCOMP
2019-02-01 Sold (MLS) $43,000 REALCOMP
2019-01-07 Listed $44,900 REALCOMP
2018-11-18 Listed $45,000 REALCOMP
2018-03-09 Sold (MLS) $40,000 REALCOMP
2018-02-05 Listing Removed — REALCOMP
2018-02-05 Listing Removed — Greater Lansing AoR
2018-02-05 Listing Removed — REALCOMP
2018-01-30 Listed $42,000 REALCOMP
2017-12-18 Pending — MiRealSource-MiMLS
2017-12-18 Pending — REALCOMP
2017-12-18 Listing Removed — MiRealSource-MiMLS
2017-12-18 Listing Removed — MiRealSource-MiMLS
2017-12-18 Listing Removed — Greater Lansing AoR
2017-12-18 Listing Removed — MiRealSource-MiMLS
2017-12-16 Listed $39,000 MiRealSource-MiMLS
2017-12-16 Listed $39,000 MiRealSource-MiMLS
2017-12-16 Listed $39,000 REALCOMP
2017-12-16 Listed $39,000 REALCOMP
2017-04-20 Listing Removed — REALCOMP
2017-04-03 Listed $39,900 REALCOMP
2016-03-02 Listing Removed — REALCOMP
2015-12-30 Listed $38,000 REALCOMP
2013-09-21 Sold (MLS) $32,500 MiRealSource-MiMLS
2013-08-20 Listing Removed — MiRealSource-MiMLS
2013-08-07 Listed $34,900 MiRealSource-MiMLS
2013-03-22 Sold (MLS) $19,000 MiRealSource-MiMLS
2013-03-22 Sold (MLS) $19,000 REALCOMP
2013-02-27 Listing Removed — MiRealSource-MiMLS
2013-02-27 Listing Removed — REALCOMP
2013-01-29 Listed $24,900 MiRealSource-MiMLS
2013-01-29 Listed $24,900 REALCOMP
2012-08-08 Sold (MLS) $15,000 REALCOMP
2012-08-08 Sold (MLS) $15,000 MiRealSource-MiMLS
2012-08-08 Sold (MLS) $15,000 MiRealSource-MiMLS
2012-06-23 Listing Removed — MiRealSource-MiMLS
2012-04-25 Listed $15,900 REALCOMP
2012-04-25 Listed $15,900 MiRealSource-MiMLS
2012-04-25 Listed $15,900 MiRealSource-MiMLS
2012-03-28 Listing Removed — MiRealSource-MiMLS
2012-01-24 Listing Removed — REALCOMP
2012-01-24 Listing Removed — MiRealSource-MiMLS
2012-01-16 Listed $12,900 MiRealSource-MiMLS
2011-12-29 Listing Removed — MiRealSource-MiMLS
2011-12-29 Listed $19,900 REALCOMP
2011-12-29 Listed $19,900 MiRealSource-MiMLS
2011-12-28 Listing Removed — REALCOMP
2011-12-13 Listed $19,900 REALCOMP
2011-12-13 Listed $19,900 MiRealSource-MiMLS
2011-08-09 Listing Removed — MiRealSource-MiMLS
2010-10-25 Listing Removed — REALCOMP
2010-10-25 Listing Removed — MiRealSource-MiMLS
2010-10-04 Listed $19,900 MiRealSource-MiMLS
2010-09-13 Listed $12,000 REALCOMP
2010-09-13 Listed $12,000 MiRealSource-MiMLS
2009-12-31 Listing Removed — MiRealSource-MiMLS
2009-12-31 Listing Removed — REALCOMP
2009-06-23 Listed $24,900 MiRealSource-MiMLS
2009-06-23 Listed $24,900 REALCOMP
2009-06-10 Listing Removed — REALCOMP
2009-06-10 Listing Removed — MiRealSource-MiMLS
2008-04-10 Listed $39,900 REALCOMP
2008-04-10 Listed $39,900 MiRealSource-MiMLS
2007-12-12 Listing Removed — MiRealSource-MiMLS
2007-07-05 Listing Removed — MiRealSource-MiMLS
2007-06-14 Listed $49,500 MiRealSource-MiMLS
2007-05-09 Listing Removed — MiRealSource-MiMLS
2007-03-01 Listed $41,900 MiRealSource-MiMLS
2007-02-09 Listed $51,900 MiRealSource-MiMLS
2007-01-04 Listing Removed — MiRealSource-MiMLS
2007-01-04 Listing Removed — REALCOMP
2006-10-04 Listed $49,900 MiRealSource-MiMLS
2006-10-04 Listed $49,900 REALCOMP
2006-06-06 Listing Removed — REALCOMP
2006-06-06 Listing Removed — MiRealSource-MiMLS
2006-03-06 Listed $59,900 REALCOMP

Cash-flow waterfall

monthly

Sold comps — $/sqft

last 12 mo · ≤1 mi

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