23362 Baker St · Taylor, MI 48180

$64,900

2 bd · 1.5 ba · 874 sqft · Condo · 27 Days on market

Built 1970 Good condition $615/mo HOA · 43% 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 +18.9/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.0/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +3.7/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

As you pull into the parking lot, the calm of condo living washes over you. Everything in your view will be taken care of. That is the condo life. Open the front door and gorgeous hardwood floors greet you. The large living room invites you to crash on your choice of comfy couches after a long day. Natural light pours in from innumerable windows - a smile guaranteed every single morning. A turn of the heel and the dining room comes into view. Cozy dinner parties with those you hold dear come to mind instantly. Dim the lights and the mood shifts to something even more intimate. The kitchen draws out your inner chef. Ample cabinets hide every culinary secret and gadget while extensive countertops make any feast a snap. A perfectly placed half bath just makes life easier. Head upstairs. The primary bedroom holds any size bed you choose - sanctuary and restful sleep are guaranteed here. A few steps away, the updated bath stops you cold. Granite countertops anchor a space designed for pampering, while generous storage means everything that makes you beautiful has a perfect home. Spa days just got a permanent address. The second bedroom opens the door to endless possibilities: guest room, home office, craft room. You decide. Head to the basement and find a bastion of storage. In this wide open space, even laundry becomes a pleasure. Step outside to your own personal backyard oasis. The privacy fence delivers solitude directly to your back door. Give in to the condo life and start living carefree today.

Key facts

• $615 HOA
• Built 1970
• Listed 27 days

Property features AI

Finance

• Other: Directions: Going North on Telegraph, Right on Pine, Left on Baker; Cross streets near Telegraph and Haig
• HOA & community: Homeowners association with monthly fee of $615; HOA fee covers gas, grounds maintenance, snow removal, trash and water

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Residential stock cooperative; Two levels; Ground-level entry
• Construction: Brick and vinyl siding construction
• Exterior features: Asphalt roof; Paved road access; Pets allowed (cats and dogs allowed, breed restrictions and number limits apply)

Interior

• Kitchen: Free-standing gas range; Free-standing refrigerator; Dishwasher not listed
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Dryer; Washer; Free-standing gas range; Free-standing refrigerator; Unfinished basement
• Laundry & utility: Washer and dryer in unit

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $65k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $67 ($802/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $64k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 5.4% in Taylor — 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 76/100 on livability (#144 in MI, #3,684 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, schools F, crime F.
• Taylor School District (urban): math 14% / reading 27% proficiency, ranked #462 of 540 in MI (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.9%/yr); 281 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $18k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 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.

Risks & watch-outs

• Watch-outs: HOA is 43% of rent.

Recommended offer $63,926 (1.5% below list)

Questions for the listing agent

1. Built in 1970 — 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 F-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 F 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: 2.20% ✓
• Cap rate: 7.53%
• Cash-on-cash: 4.42%
• DSCR: 1.20
• GRM: 3.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.9% rent growth · sell at horizon

5-year hold

• IRR: -4.3%
• Equity multiple: 0.83×
• Total profit: $-3,071
• Equity at exit: $9,677

10-year hold

• IRR: 9.7%
• Equity multiple: 1.90×
• Total profit: $16,322
• Equity at exit: $5,611

Cash invested: $18,172 (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 48180

• Rents YoY: 4.9%
• Active inventory: 281
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,431 high
• Mortgage (P&I): −$340
• Tax est. 1.5%: −$81 /mo · $974/yr
• Insurance: −$27
• HOA: −$615
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $67

Break-even live

Break-even rent $1,346

Max offer price $64,900

Occupancy floor 90%

Sensitivity live

Price	-10% $112	-5% $89	+0% $67	+5% $44	+10% $22
Rent	-10% $-46	-5% $10	+0% $67	+5% $123	+10% $180
Rate	-1.0pp $100	-0.5pp $83	base $67	+0.5pp $50	+1.0pp $33

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
9620 Elm St Taylor, MI	2.0	1.0	800	$1,470	$1.84	0d	3	0.06mi
23060 Bernard St Taylor, MI	2.0	1.0	836	$1,400	$1.67	2d	1	0.53mi
23060 Bernard St Taylor, MI	3.0	1.0	1086	$1,600	$1.47	0d	1	0.53mi
23060 Bernard St Unit Upper Unit Taylor, MI	2.0	1.0	922	$1,400	$1.52	0d	1	0.53mi
24268 Haskell St Taylor, MI	1.0–2.0	1.0	880	$1,570	$1.78	0d	7	0.86mi
11312 Elm St Taylor, MI	2.0	1.0	830	$1,125	$1.36	44d	1	0.96mi
7873 Syracuse St Taylor, MI	2.0	1.0	728	$1,400	$1.92	44d	1	1.02mi
11384 Brydan St Unit 3 Taylor, MI	2.0	1.5	1100	$1,345	$1.22	11d	1	1.29mi
11258 Goddard Ct Taylor, MI	2.0	1.5	1000	$1,245	$1.25	5d	1	1.33mi
12555 Pine St Taylor, MI	1.0–3.0	1.0–1.5	830	$1,268	$1.53	0d	1	1.49mi

HOA detail condo

• Monthly dues: $615 · $7,380/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-17
   status $64,900 Pending 27 DOM
2. 2026-06-17
   days on market $64,900 Active 27 DOM
3. 2026-06-16
   days on market $64,900 Active 26 DOM
4. 2026-06-15
   days on market $64,900 Active 25 DOM
5. 2026-06-13
   days on market $64,900 Active 23 DOM
6. 2026-06-13
   days on market $64,900 Active 22 DOM
7. 2026-06-09
   days on market $64,900 Active 19 DOM
8. 2026-06-08
   days on market $64,900 Active 18 DOM
9. 2026-06-07
   days on market $64,900 Active 17 DOM
10. 2026-06-04
    days on market $64,900 Active 14 DOM
11. 2026-06-03
    days on market $64,900 Active 13 DOM
12. 2026-06-02
    days on market $64,900 Active 12 DOM
13. 2026-06-01
    days on market $64,900 Active 11 DOM
14. 2026-05-31
    days on market $64,900 Active 10 DOM
15. 2026-05-22
    listed $64,900 Active 1525-char remark

    Show marketing remark (1525 chars)

    As you pull into the parking lot, the calm of condo living washes over you. Everything in your view will be taken care of. That is the condo life. Open the front door and gorgeous hardwood floors greet you. The large living room invites you to crash on your choice of comfy couches after a long day. Natural light pours in from innumerable windows - a smile guaranteed every single morning. A turn of the heel and the dining room comes into view. Cozy dinner parties with those you hold dear come to mind instantly. Dim the lights and the mood shifts to something even more intimate. The kitchen draws out your inner chef. Ample cabinets hide every culinary secret and gadget while extensive countertops make any feast a snap. A perfectly placed half bath just makes life easier. Head upstairs. The primary bedroom holds any size bed you choose - sanctuary and restful sleep are guaranteed here. A few steps away, the updated bath stops you cold. Granite countertops anchor a space designed for pampering, while generous storage means everything that makes you beautiful has a perfect home. Spa days just got a permanent address. The second bedroom opens the door to endless possibilities: guest room, home office, craft room. You decide. Head to the basement and find a bastion of storage. In this wide open space, even laundry becomes a pleasure. Step outside to your own personal backyard oasis. The privacy fence delivers solitude directly to your back door. Give in to the condo life and start living carefree today.

16. 2026-05-22
    listed $64,900 Active

    Show marketing remark (1525 chars)

    As you pull into the parking lot, the calm of condo living washes over you. Everything in your view will be taken care of. That is the condo life. Open the front door and gorgeous hardwood floors greet you. The large living room invites you to crash on your choice of comfy couches after a long day. Natural light pours in from innumerable windows - a smile guaranteed every single morning. A turn of the heel and the dining room comes into view. Cozy dinner parties with those you hold dear come to mind instantly. Dim the lights and the mood shifts to something even more intimate. The kitchen draws out your inner chef. Ample cabinets hide every culinary secret and gadget while extensive countertops make any feast a snap. A perfectly placed half bath just makes life easier. Head upstairs. The primary bedroom holds any size bed you choose - sanctuary and restful sleep are guaranteed here. A few steps away, the updated bath stops you cold. Granite countertops anchor a space designed for pampering, while generous storage means everything that makes you beautiful has a perfect home. Spa days just got a permanent address. The second bedroom opens the door to endless possibilities: guest room, home office, craft room. You decide. Head to the basement and find a bastion of storage. In this wide open space, even laundry becomes a pleasure. Step outside to your own personal backyard oasis. The privacy fence delivers solitude directly to your back door. Give in to the condo life and start living carefree today.

17. 2026-05-20
    historical $64,900 1525-char remark

    Show marketing remark (1525 chars)

    As you pull into the parking lot, the calm of condo living washes over you. Everything in your view will be taken care of. That is the condo life. Open the front door and gorgeous hardwood floors greet you. The large living room invites you to crash on your choice of comfy couches after a long day. Natural light pours in from innumerable windows - a smile guaranteed every single morning. A turn of the heel and the dining room comes into view. Cozy dinner parties with those you hold dear come to mind instantly. Dim the lights and the mood shifts to something even more intimate. The kitchen draws out your inner chef. Ample cabinets hide every culinary secret and gadget while extensive countertops make any feast a snap. A perfectly placed half bath just makes life easier. Head upstairs. The primary bedroom holds any size bed you choose - sanctuary and restful sleep are guaranteed here. A few steps away, the updated bath stops you cold. Granite countertops anchor a space designed for pampering, while generous storage means everything that makes you beautiful has a perfect home. Spa days just got a permanent address. The second bedroom opens the door to endless possibilities: guest room, home office, craft room. You decide. Head to the basement and find a bastion of storage. In this wide open space, even laundry becomes a pleasure. Step outside to your own personal backyard oasis. The privacy fence delivers solitude directly to your back door. Give in to the condo life and start living carefree today.

ⓘ 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: $17,170
• − Mortgage interest: −$3,635
• − Property taxes: −$974
• − Insurance: −$324
• − Repairs & maintenance: −$1,374
• − Management: −$1,374
• − HOA: −$7,380
• − Depreciation: −$1,888
• Taxable income: $222
• Est. tax owed @ 24.0%: −$53
• After-tax cash flow: $749/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 · 15 photos

Good 75/100 Cosmetic rehab

This well-maintained townhouse is move-in ready with good condition and minimal repairs needed.

Value-add opportunities

• Resale Paint exterior trim — Fresh paint enhances curb appeal
• Rental Clean gutters — Clean gutters improve drainage and prevent water damage

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior trim — Fresh paint enhances curb appeal ↑
• Rental Clean gutters — Clean gutters improve drainage and prevent water damage ↑

ⓘ 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: Taylor School District
• NCES district ID: 2633540
• Math proficiency: 14% ▼ -7.00%
• Reading proficiency: 27% ▼ -4.00%
• Median HH income: $43,062
• Composite: 17.62/100
• National rank: #9034
• State rank: #462 of 540 in MI

Livability — Taylor

• Score: 76/100
• State rank: #144
• US rank: #3684

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Taylor, MI
• County: Wayne County · 1,562,939 people
• City population: 62,081
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 62,081
• Household income: $61,081
• Rent vs Own: 33.3% rent · 66.7% own
• Severe rent burden: 1957.0

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 1,675,273 people
• By 2030: 1,620,300 · -3.3%
• By 2040: 1,502,341 · -10.3%
• By 2050: 1,384,039 · -17.4%
• By 2075: 1,124,592 · -32.9%
• By 2100: 881,193 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Black 19% Two or more races 9% Hispanic / Latino 9% Asian 2%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Romanian 8% Lithuanian 3% Slovak 2%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 4% Arabic 3% Other Indo-European 3%

Political lean MEDSL · Wayne

• 2024 margin: Strong D (+29.0) · D 62.7% · R 33.7% · Other 3.6%
• 2008→2024 swing: -20.5pp toward R · 2008: 49.5pp · 2024: 29.0pp
• All cycles: 2024: D+29.0 2020: D+38.1 2016: D+37.3 2012: D+46.9 2008: D+49.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -212.33%
• Current HPI: 228.921
• Rent YoY: ▲ 4.90%
• 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

+0.0% since first listed

3 events — show timeline

• 2026-05-22 Listed $64,900 MiRealSource-MiMLS
• 2026-05-22 Listed $64,900 REALCOMP
• 2026-05-20 Coming Soon $64,900 MiRealSource-MiMLS