29200 Gloede St · Warren, MI 48088

$74,900

1 bd · 1.0 ba · 696 sqft · Condo · 2 Days on market

Built 1968 Fair condition $108/sqft · 15% below area $340/mo HOA · 30% 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 +16.6/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

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

• New drywall
• New tile flooring
• New furnace

Tags

• FIRST FLOOR CONDO
• NEW FURNACE
• NEW DRYWALL
• BRAND-NEW CARPET
• NEW LAMINATE FLOORING
• NEW TILE FLOORING

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee of $340

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Condominium; Single level; Ground-level entry with steps
• Construction: Brick construction
• Exterior features: Paved road access; Pets allowed (cats and dogs allowed; breed, number and size restrictions may apply; contact for details)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Space heater; No cooling
• Interior features: Finished basement; Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $75k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $46 ($550/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Cap rate 7.0% 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: 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: 112 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% 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

• Local home prices are declining (-3.0%/yr); year-one equity from $518 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 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 43 sale attempts since 21y 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 $44k; list at $75k implies a 70% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.

Recommended offer $74,900

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 1968 — 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: 1.53% ✓
• Cap rate: 7.03%
• Cash-on-cash: 2.62%
• DSCR: 1.12
• GRM: 5.5

CMA / ARV

• ARV (median comp): $175,684
• List price: $74,900
• Delta: -60.16%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -11.8%
• Equity multiple: 0.57×
• Total profit: $-8,991
• Equity at exit: $11,168

10-year hold

• IRR: -2.2%
• Equity multiple: 0.85×
• Total profit: $-3,150
• Equity at exit: $6,476

Cash invested: $20,972 (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 48088

• Active inventory: 112
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,144 medium
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,124/yr
• Insurance: −$31
• HOA: −$340
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $46

Break-even live

Break-even rent $1,086

Max offer price $74,900

Occupancy floor 91%

Sensitivity live

Price	-10% $98	-5% $72	+0% $46	+5% $20	+10% $-6
Rent	-10% $-44	-5% $1	+0% $46	+5% $91	+10% $136
Rate	-1.0pp $84	-0.5pp $65	base $46	+0.5pp $26	+1.0pp $7

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
29157 Hayes Rd Warren, MI	1.0	1.0	720	$1,250	$1.74	45d	1	0.24mi
16425 12 Mile Rd Roseville, MI	1.0	1.0	600	$950	$1.58	45d	1	0.95mi
16435 Twelve Mile Rd Roseville, MI	1.0	1.0	600	$950	$1.58	45d	1	0.97mi
28801 Imperial Dr Warren, MI	1.0–2.0	1.0	887	$975	$1.10	18d	6	1.48mi

HOA detail condo

• Monthly dues: $340 · $4,080/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-21
   remarks 699-char remark
2. 2026-06-21
   pricedays on marketlisting id $74,900 Active 2 DOM
3. 2026-06-18
   days on market $70,000 Active 45 DOM
4. 2026-06-17
   days on market $70,000 Active 44 DOM
5. 2026-06-16
   days on market $70,000 Active 43 DOM
6. 2026-06-15
   days on market $70,000 Active 42 DOM
7. 2026-06-13
   days on market $70,000 Active 40 DOM
8. 2026-06-13
   days on market $70,000 Active 39 DOM
9. 2026-06-09
   days on market $70,000 Active 36 DOM
10. 2026-06-08
    days on market $70,000 Active 35 DOM
11. 2026-06-07
    days on market $70,000 Active 34 DOM
12. 2026-06-04
    days on market $70,000 Active 31 DOM
13. 2026-06-03
    days on market $70,000 Active 30 DOM
14. 2026-06-02
    days on market $70,000 Active 29 DOM
15. 2026-06-01
    days on market $70,000 Active 28 DOM
16. 2026-05-31
    days on market $70,000 Active 27 DOM
17. 2026-05-18
    historical
18. 2026-05-11
    historical Accepting Backup Offers 359-char remark

    Show marketing remark (359 chars)

    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.

19. 2026-05-11
    historical Active Under Contract

    Show marketing remark (359 chars)

    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.

20. 2026-05-04
    listed $70,000 Active

    Show marketing remark (359 chars)

    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.

21. 2026-05-04
    listed $70,000 Active 359-char remark

    Show marketing remark (359 chars)

    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.

22. 2026-04-07
    price $74,900
23. 2026-02-18
    listed $79,000 Active
24. 2020-03-23
    soldstatus $44,000
25. 2020-02-20
    listed $46,000
26. 2019-04-18
    soldstatus $44,900
27. 2019-02-01
    soldstatus $43,000
28. 2019-01-07
    listed $44,900
29. 2018-11-18
    listed $45,000
30. 2018-03-09
    soldstatus $40,000
31. 2018-02-05
    historical
32. 2018-02-05
    historical
33. 2018-01-30
    listed $42,000
34. 2017-12-18
    status Pending
35. 2017-12-18
    status Pending
36. 2017-12-18
    historical
37. 2017-12-18
    historical
38. 2017-12-18
    historical
39. 2017-12-16
    listed $39,000 Active
40. 2017-12-16
    listed $39,000
41. 2017-12-16
    listed $39,000
42. 2017-12-16
    listed $39,000 Active
43. 2017-04-20
    historical
44. 2017-04-03
    listed $39,900
45. 2016-03-02
    historical
46. 2015-12-30
    listed $38,000
47. 2013-09-21
    soldstatus $32,500
48. 2013-08-20
    historical
49. 2013-08-07
    listed $34,900
50. 2013-03-22
    soldstatus $19,000

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

Taxation est. · year 1

• Rental income: $13,724
• − Mortgage interest: −$4,196
• − Property taxes: −$1,124
• − Insurance: −$374
• − Repairs & maintenance: −$1,098
• − Management: −$1,098
• − HOA: −$4,080
• − Depreciation: −$2,179
• Taxable loss: −$425
• Est. tax savings @ 24.0%: +$102
• After-tax cash flow: $652/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

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

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Weathered brick siding	Minor	$500–3,000
interior paint · Slight wear on paint	Minor	$500–3,000
flooring · Carpeted floors show some wear	Minor	$500–3,000
Total estimated repair cost · 3 items		$1,500–9,000

Value-add ROI direction

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

ⓘ 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
• City population: 114,937
• Population (ZIP): 23,443

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 (74%)
• Race & ethnicity: White 74% Black 13% Asian 6% Hispanic / Latino 5% Two or more races 5%
• Common ancestry: Romanian 14% Lithuanian 4% Slovak 2%
• Foreign-born: 11% · Canada
• Languages at home: 84% English-only · Arabic 4% Other Indo-European 3% Spanish 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: ▼ -213.65%
• Current HPI: 206.4018
• 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

+24.8% since first listed

93 events — show timeline

• 2026-06-17 Listed $74,900 REALCOMP
• 2026-05-27 Relisted — REALCOMP
• 2026-05-25 Relisted — MiRealSource-MiMLS
• 2026-05-18 Listing Removed — REALCOMP
• 2026-05-18 Listing Removed — REALCOMP
• 2026-05-11 Contingent — MiRealSource-MiMLS
• 2026-05-11 Contingent — REALCOMP
• 2026-05-04 Listed $70,000 MiRealSource-MiMLS
• 2026-05-04 Listed $70,000 REALCOMP
• 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 — 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 — 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 MiRealSource-MiMLS
• 2012-08-08 Sold (MLS) $15,000 MiRealSource-MiMLS
• 2012-08-08 Sold (MLS) $15,000 REALCOMP
• 2012-06-23 Listing Removed — MiRealSource-MiMLS
• 2012-04-25 Listed $15,900 MiRealSource-MiMLS
• 2012-04-25 Listed $15,900 MiRealSource-MiMLS
• 2012-04-25 Listed $15,900 REALCOMP
• 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 — REALCOMP
• 2009-12-31 Listing Removed — MiRealSource-MiMLS
• 2009-06-23 Listed $24,900 REALCOMP
• 2009-06-23 Listed $24,900 MiRealSource-MiMLS
• 2009-06-10 Listing Removed — MiRealSource-MiMLS
• 2009-06-10 Listing Removed — REALCOMP
• 2008-04-10 Listed $39,900 MiRealSource-MiMLS
• 2008-04-10 Listed $39,900 REALCOMP
• 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 — REALCOMP
• 2007-01-04 Listing Removed — MiRealSource-MiMLS
• 2006-10-04 Listed $49,900 REALCOMP
• 2006-10-04 Listed $49,900 MiRealSource-MiMLS
• 2006-06-06 Listing Removed — REALCOMP
• 2006-06-06 Listing Removed — MiRealSource-MiMLS
• 2006-03-06 Listed $59,900 REALCOMP
• 2006-02-18 Listing Removed — REALCOMP
• 2005-11-18 Listed $59,900 REALCOMP
• 2005-11-10 Listed $59,900 MiRealSource-MiMLS
• 2005-09-13 Listing Removed — MiRealSource-MiMLS
• 2005-06-13 Listed $62,400 MiRealSource-MiMLS
• 2003-07-14 Sold (MLS) $60,000 MiRealSource-MiMLS