28165 Raleigh Crescent Dr · Chesterfield, MI 48051

$139,000

2 bd · 1.5 ba · 1,012 sqft · Condo · 4 Days on market

Built 2001 $240/mo HOA · 16% of rent

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Why this score? — see what drove the D- 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 +12.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Schools +3.6/10.0
• DSCR +3.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful updated condo. Full basement, appliances included. For sale, not a short sale. New carpet.

Key facts

• Full basement
• Dedicated carport
• $240 HOA

Tags

• FULL BASEMENT
• DEDICATED CARPORT
• ASSIGNED PARKING SPACE
• WALKING DISTANCE TO STORES
• LOW MAINTENANCE LIVING

Property features AI

Finance

• Other: Pets allowed (call for pet restrictions)
• HOA & community: Monthly association fee of $240; Association covers water and sewer; Grounds maintenance provided by association; Association: O'Brien Investerments (contact available)

Exterior

• Parking: Covered parking; Carport; One parking space in garage/carport
• Utilities: Public water; Public sanitary sewer; Electric service (standard); Gas water heater
• Home design: Condominium; 2-story; Built in 2001; Below-grade area (unfinished) approximately 500
• Construction: Brick construction; Basement foundation
• Exterior features: Brick exterior construction; Private roads maintained by association; Residential zoning

Interior

• Kitchen: Kitchen on first floor (approx. 12 x 11); Breakfast nook on first floor (approx. 11 x 10); Vinyl kitchen flooring; Range/Oven; Dishwasher
• Bedrooms: Primary bedroom on second floor (approx. 18 x 14) with carpet; Second bedroom on second floor (approx. 14 x 11) with carpet
• Flooring: Carpet in living room and bedrooms; Vinyl in kitchen
• Bathrooms: One full bathroom; Two lavatories total; Bathroom and lavatory locations on first and second floors
• Heating & cooling: Forced air heating; Central A/C; Natural gas heat/fuel; Gas water heater
• Interior features: Cable/Internet available; First floor laundry; Living room; Dining room in an L-shape
• Laundry & utility: Washer and dryer; First floor laundry; Unfinished basement (has basement)

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $139k.

Deal economics

• At list price, monthly cash flow is $-33 ($-395/yr) — negative.
• To cash-flow at today's rent, offer at most $134k (3.4% below list).
• Meets the 1% rule at list price ($1k rent vs $139k).
• Recommended offer: $134k (3.4% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• L'Anse Creuse Public Schools (suburban): math 31% / reading 51% proficiency, ranked #184 of 540 in MI (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 140 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 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 $961 of loan paydown is wiped out by about $4k 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 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 11y 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 $53k; list at $139k implies a 162% gain — meaningful room to come down on a strong offer.

Recommended offer $134,231 (3.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 1.06% ✓
• Cap rate: 6.01%
• Cash-on-cash: -1.02%
• DSCR: 0.95
• GRM: 7.8

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: -17.8%
• Equity multiple: 0.37×
• Total profit: $-24,453
• Equity at exit: $20,725

10-year hold

• IRR: -9.7%
• Equity multiple: 0.40×
• Total profit: $-23,306
• Equity at exit: $12,018

Cash invested: $38,920 (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 48051

• Home prices YoY: -31.8%
• Active inventory: 140
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,478 high
• Mortgage (P&I): −$729
• Tax est. 1.5%: −$174 /mo · $2,085/yr
• Insurance: −$58
• HOA: −$240
• Vacancy / Maint / Mgmt: −$310
• Net cashflow: $-33

Break-even live

Break-even rent $1,520

Max offer price $134,231

Occupancy floor 97%

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28123 23 Mile Rd New Baltimore, MI	1.0–2.0	1.0	800	$1,059	$1.32	1d	5	0.04mi
28218 S Pointe Ln New Baltimore, MI	2.0	2.0	1427	$1,850	$1.30	5d	1	0.27mi
28218 S Pointe Ln New Baltimore, MI	2.0	2.0	1425	$2,100	$1.47	24d	1	0.27mi
28346 Adler Park Dr S #246 Chesterfield, MI	2.0	2.0	1332	$1,750	$1.31	43d	1	0.34mi
50450 Bay Run N #50 Chesterfield, MI	2.0	1.5	1200	$1,500	$1.25	17d	1	0.63mi
49330 Carlos St New Baltimore, MI	1.0–2.0	1.0–2.0	715	$945	$1.32	1d	1	0.79mi
50031 S Benny Ct New Baltimore, MI	2.0	1.0	1056	$1,450	$1.37	43d	1	0.80mi
29890 Donna Ln New Baltimore, MI	2.0	1.5	1120	$1,500	$1.34	1d	1	0.87mi
52436 Winston Ct Unit 209 Chesterfield, MI	3.0	2.0	1056	$1,479	$1.40	43d	1	1.04mi
29805 Jamestown Dr Unit 435 New Baltimore, MI	3.0	2.0	1344	$1,739	$1.29	1d	1	1.05mi
52705 Van Buren Dr Unit 297 Chesterfield, MI	3.0	2.0	1056	$1,479	$1.40	1d	1	1.07mi
29811 W Essex Ct Unit 114 New Baltimore, MI	3.0	2.0	1456	$1,729	$1.19	43d	1	1.12mi
29810 W Essex Ct Unit 107 New Baltimore, MI	3.0	2.0	1056	$1,439	$1.36	5d	1	1.13mi
29649 Cambridge Ct Unit 256 New Baltimore, MI	3.0	2.0	1152	$1,579	$1.37	1d	1	1.13mi
52758 S Yorktown Ct Unit 176 New Baltimore, MI	2.0	2.0	960	$1,449	$1.51	1d	1	1.15mi
29778 W Essex Ct Unit 109 New Baltimore, MI	3.0	2.0	1056	$1,469	$1.39	43d	1	1.15mi
29909 Flushing Dr Unit 71 New Baltimore, MI	3.0	2.0	1440	$1,669	$1.16	16d	1	1.15mi
52780 S Zacharias Ct Unit 152 Chesterfield, MI	3.0	2.0	1056	$1,499	$1.42	1d	1	1.20mi
52792 S Zacharias Ct Unit 151 Chesterfield, MI	3.0	2.0	1056	$1,479	$1.40	1d	1	1.21mi
52871 N Zacharias Ct Unit 161 Chesterfield, MI	3.0	2.0	1152	$1,519	$1.32	1d	1	1.22mi
52962 N Yorktown Ct Unit 168 Chesterfield, MI	3.0	2.0	1056	$1,519	$1.44	1d	1	1.22mi

HOA detail condo

• Monthly dues: $240 · $2,880/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-06-18
   days on market $139,000 Active 4 DOM
2. 2026-06-17
   days on market $139,000 Active 3 DOM
3. 2026-06-16
   days on market $139,000 Active 2 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   days on marketlisting id $139,000 Active 1 DOM
6. 2026-06-15
   days on market $139,000 Active 3 DOM
7. 2026-06-13
   remarks 693-char remark
8. 2026-06-13
   listed $139,000 Active 1 DOM

ⓘ 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 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,736
• − Mortgage interest: −$7,786
• − Property taxes: −$2,085
• − Insurance: −$695
• − Repairs & maintenance: −$1,419
• − Management: −$1,419
• − HOA: −$2,880
• − Depreciation: −$4,044
• Taxable loss: −$2,591
• Est. tax savings @ 24.0%: +$622
• After-tax cash flow: $226/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: L'Anse Creuse Public Schools
• NCES district ID: 2621870
• Math proficiency: 31% ▼ -8.00%
• Reading proficiency: 51% ▼ -2.00%
• Median HH income: $57,757
• Composite: 35.99/100
• National rank: #4790
• State rank: #184 of 540 in MI

Livability — Chesterfield

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• City population: 40,302
• Population (ZIP): 17,716

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 (79%)
• Race & ethnicity: White 79% Black 8% Two or more races 7% Hispanic / Latino 5%
• Common ancestry: Romanian 18% Lithuanian 5% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 1%

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: ▼ -98.06%
• Current HPI: 210.6017
• 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

+178.6% since first listed

7 events — show timeline

• 2026-06-12 Listed $139,000 MiRealSource-MiMLS
• 2015-09-25 Sold (MLS) $53,000 REALCOMP
• 2015-08-28 Listing Removed — REALCOMP
• 2015-05-01 Relisted — REALCOMP
• 2015-04-01 Listing Removed — REALCOMP
• 2015-03-23 Price Changed $55,900 REALCOMP
• 2015-03-19 Listed $49,900 REALCOMP