8214 24 Mile Rd · Utica, MI 48316

$113,900

2 bd · 1.0 ba · 1,000 sqft · Condo · 88 Days on market

Built 1971 Fair condition $114/sqft · 49% below area Est $224k · 49% under $320/mo HOA · 19% of rent ↓ 9% since listing

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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 +24.3/30.0
• ARV discount +15.0/15.0
• 1% rule +9.8/10.0
• DSCR +7.8/10.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

his condo offers a fantastic opportunity for investors or buyers looking to add value. Featuring a functional layout and solid structure, this unit is ready for your personal touch and updates to bring it to its full potential. Located in a desirable area with strong rental demand and a great school district. This unit has been a rental unit for the past ten years and can continue to be rented out!!!! This unit offers a generous size living room, large bedrooms, and a functional kitchen with a dining area and door wall leading to a private balcony. The condo also features a brand new wall A/C unit for added comfort. Residents enjoy assigned carport parking and access to common area basement laundry and additional storage. One pet is allowed (One cat or one dog). Conveniently located near shopping, dining, and major roadways, this is a great opportunity for homeowners or investors alike. Just add your touch! Schedule your showing today!

Key facts

• Private balcony
• Wall a/c unit
• Additional storage

Tags

• PRIVATE BALCONY
• WALL A/C UNIT
• ASSIGNED CARPORT PARKING
• COMMON AREA BASEMENT LAUNDRY
• ADDITIONAL STORAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $114k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $229 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $114k).
• Recommended offer: $107k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.7% vs local median 3.6% in Utica — 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 78/100 on livability (#106 in MI, #2,586 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, health & safety D+, employment D.
• Utica Community Schools (suburban): math 38% / reading 53% proficiency, ranked #126 of 540 in MI (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 167 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 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 $787 of loan paydown is wiped out by about $3k 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

• It's been on market 88 days — a 6% lower offer ($107k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $11k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $107,066 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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.
10. 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.
11. 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: 1.48% ✓
• Cap rate: 8.70%
• Cash-on-cash: 8.61%
• DSCR: 1.38
• GRM: 5.6

CMA / ARV

• ARV (median comp): $223,526
• List price: $113,900
• Delta: -49.04%
• 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: -3.0%
• Equity multiple: 0.89×
• Total profit: $-3,654
• Equity at exit: $16,983

10-year hold

• IRR: 6.8%
• Equity multiple: 1.52×
• Total profit: $16,495
• Equity at exit: $9,848

Cash invested: $31,892 (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 48316

• Active inventory: 167
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $1,691 high
• Mortgage (P&I): −$597
• Tax est. 1.5%: −$142 /mo · $1,708/yr
• Insurance: −$47
• HOA: −$320
• Vacancy / Maint / Mgmt: −$355
• Net cashflow: $229

Break-even live

Break-even rent $1,401

Max offer price $113,900

Occupancy floor 81%

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: $28,475
• Closing costs: $3,417
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8252 Yorkshire Dr Unit 8252 Shelby Township, MI	2.0	2.0	1325	$1,675	$1.26	24d	1	0.06mi
8266 Promenade Cir Unit 8266 Shelby Township, MI	2.0	2.0	1325	$1,675	$1.26	18d	1	0.09mi
8170 W Annsbury Cir Shelby Township, MI	2.0	2.0	1300	$1,700	$1.31	18d	1	0.63mi
54342 Calusa Dr Shelby Township, MI	2.0	2.0	1235	$1,800	$1.46	24d	1	0.68mi
7959 Sal Mar Way Shelby Charter Township, MI	2.0–3.0	2.0–2.5	1599	$1,910	$1.19	1d	5	1.38mi
6143 Century Ct Shelby Township, MI	2.0	2.0	1200	$1,700	$1.42	1d	1	1.46mi

HOA detail condo

• Monthly dues: $320 · $3,840/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-06-10
   status $113,900 Pending 88 DOM
2. 2026-06-09
   days on market $113,900 Active 88 DOM
3. 2026-06-08
   days on market $113,900 Active 87 DOM
4. 2026-06-07
   days on market $113,900 Active 86 DOM
5. 2026-06-04
   days on market $113,900 Active 83 DOM
6. 2026-06-03
   days on market $113,900 Active 82 DOM
7. 2026-06-02
   days on market $113,900 Active 81 DOM
8. 2026-06-01
   days on market $113,900 Active 80 DOM
9. 2026-05-31
   days on market $113,900 Active 79 DOM
10. 2026-04-28
    price $113,900 949-char remark

    Show marketing remark (950 chars)

    his condo offers a fantastic opportunity for investors or buyers looking to add value. Featuring a functional layout and solid structure, this unit is ready for your personal touch and updates to bring it to its full potential. Located in a desirable area with strong rental demand and a great school district. This unit has been a rental unit for the past ten years and can continue to be rented out!!!! This unit offers a generous size living room, large bedrooms, and a functional kitchen with a dining area and door wall leading to a private balcony. The condo also features a brand new wall A/C unit for added comfort. Residents enjoy assigned carport parking and access to common area basement laundry and additional storage. One pet is allowed (One cat or one dog). Conveniently located near shopping, dining, and major roadways, this is a great opportunity for homeowners or investors alike. Just add your touch! Schedule your showing today!

11. 2026-04-28
    price $113,900 950-char remark

    Show marketing remark (950 chars)

    his condo offers a fantastic opportunity for investors or buyers looking to add value. Featuring a functional layout and solid structure, this unit is ready for your personal touch and updates to bring it to its full potential. Located in a desirable area with strong rental demand and a great school district. This unit has been a rental unit for the past ten years and can continue to be rented out!!!! This unit offers a generous size living room, large bedrooms, and a functional kitchen with a dining area and door wall leading to a private balcony. The condo also features a brand new wall A/C unit for added comfort. Residents enjoy assigned carport parking and access to common area basement laundry and additional storage. One pet is allowed (One cat or one dog). Conveniently located near shopping, dining, and major roadways, this is a great opportunity for homeowners or investors alike. Just add your touch! Schedule your showing today!

12. 2026-04-13
    price $119,900 949-char remark

    Show marketing remark (950 chars)

    his condo offers a fantastic opportunity for investors or buyers looking to add value. Featuring a functional layout and solid structure, this unit is ready for your personal touch and updates to bring it to its full potential. Located in a desirable area with strong rental demand and a great school district. This unit has been a rental unit for the past ten years and can continue to be rented out!!!! This unit offers a generous size living room, large bedrooms, and a functional kitchen with a dining area and door wall leading to a private balcony. The condo also features a brand new wall A/C unit for added comfort. Residents enjoy assigned carport parking and access to common area basement laundry and additional storage. One pet is allowed (One cat or one dog). Conveniently located near shopping, dining, and major roadways, this is a great opportunity for homeowners or investors alike. Just add your touch! Schedule your showing today!

13. 2026-04-13
    price $119,900 950-char remark

    Show marketing remark (950 chars)

    his condo offers a fantastic opportunity for investors or buyers looking to add value. Featuring a functional layout and solid structure, this unit is ready for your personal touch and updates to bring it to its full potential. Located in a desirable area with strong rental demand and a great school district. This unit has been a rental unit for the past ten years and can continue to be rented out!!!! This unit offers a generous size living room, large bedrooms, and a functional kitchen with a dining area and door wall leading to a private balcony. The condo also features a brand new wall A/C unit for added comfort. Residents enjoy assigned carport parking and access to common area basement laundry and additional storage. One pet is allowed (One cat or one dog). Conveniently located near shopping, dining, and major roadways, this is a great opportunity for homeowners or investors alike. Just add your touch! Schedule your showing today!

14. 2026-03-13
    listed $124,900 Active 949-char remark

    Show marketing remark (950 chars)

    his condo offers a fantastic opportunity for investors or buyers looking to add value. Featuring a functional layout and solid structure, this unit is ready for your personal touch and updates to bring it to its full potential. Located in a desirable area with strong rental demand and a great school district. This unit has been a rental unit for the past ten years and can continue to be rented out!!!! This unit offers a generous size living room, large bedrooms, and a functional kitchen with a dining area and door wall leading to a private balcony. The condo also features a brand new wall A/C unit for added comfort. Residents enjoy assigned carport parking and access to common area basement laundry and additional storage. One pet is allowed (One cat or one dog). Conveniently located near shopping, dining, and major roadways, this is a great opportunity for homeowners or investors alike. Just add your touch! Schedule your showing today!

15. 2026-03-13
    listed $124,900 Active 950-char remark

    Show marketing remark (950 chars)

    his condo offers a fantastic opportunity for investors or buyers looking to add value. Featuring a functional layout and solid structure, this unit is ready for your personal touch and updates to bring it to its full potential. Located in a desirable area with strong rental demand and a great school district. This unit has been a rental unit for the past ten years and can continue to be rented out!!!! This unit offers a generous size living room, large bedrooms, and a functional kitchen with a dining area and door wall leading to a private balcony. The condo also features a brand new wall A/C unit for added comfort. Residents enjoy assigned carport parking and access to common area basement laundry and additional storage. One pet is allowed (One cat or one dog). Conveniently located near shopping, dining, and major roadways, this is a great opportunity for homeowners or investors alike. Just add your touch! Schedule your showing today!

ⓘ 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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,295
• − Mortgage interest: −$6,380
• − Property taxes: −$1,708
• − Insurance: −$570
• − Repairs & maintenance: −$1,624
• − Management: −$1,624
• − HOA: −$3,840
• − Depreciation: −$3,313
• Taxable income: $1,236
• Est. tax owed @ 24.0%: −$297
• After-tax cash flow: $2,451/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 · 1 photo

Fair 40/100 Moderate rehab

This condo requires moderate repairs and maintenance to improve its curb appeal and interior aesthetics, making it a solid investment opportunity.

Repairs flagged

• Moderate Exterior siding — Weathered appearance
• Moderate Interior walls — Paint appears faded

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace exterior siding — New siding improves curb appeal and structural integrity

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exterior siding · Weathered appearance	Moderate	$3,000–15,000
Interior walls · Paint appears faded	Moderate	$3,000–15,000
Total estimated repair cost · 2 items		$6,000–30,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace exterior siding — New siding improves curb appeal and structural integrity ↑

ⓘ 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: Utica Community Schools
• NCES district ID: 2634470
• Math proficiency: 38% ▼ -13.00%
• Reading proficiency: 53% ▼ -7.00%
• Median HH income: $65,953
• Composite: 40.52/100
• National rank: #3709
• State rank: #126 of 540 in MI

Livability — Utica

• Score: 78/100
• State rank: #106
• US rank: #2586

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 28,355

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 (89%)
• Race & ethnicity: White 89% Hispanic / Latino 3% Two or more races 3% Asian 3% Black 2%
• Common ancestry: Romanian 16% Lithuanian 4% Slovak 3%
• Foreign-born: 12% · Canada, China, South Korea
• Languages at home: 83% English-only · Other Indo-European 6% Russian/Polish/Slavic 4% Spanish 2%

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: ▼ -200.39%
• Current HPI: 186.8397
• 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

-8.8% since first listed

6 events — show timeline

• 2026-04-28 Price Changed $113,900 MiRealSource-MiMLS
• 2026-04-28 Price Changed $113,900 REALCOMP
• 2026-04-13 Price Changed $119,900 MiRealSource-MiMLS
• 2026-04-13 Price Changed $119,900 REALCOMP
• 2026-03-13 Listed $124,900 REALCOMP
• 2026-03-13 Listed $124,900 MiRealSource-MiMLS