21613 Waltham Rd · Warren, MI 48089

$145,000

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 24 Days on market

Built 1948 4,792 sqft lot

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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 +14.6/30.0
• ARV discount +7.5/15.0
• DSCR +4.5/10.0
• Livability +3.7/5.0
• 1% rule +3.6/10.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This property is conveniently located on major crossroads for easy commute to the city , shopping or work. This property also has an over sized 2 car detached garage as well! Come on down, this one will not last long! Property may only be viewed after accepted offer has been made. Currently rented at $1,248.00 per month.

Key facts

• 4,792 sq ft lot
• 2 garage spots
• Built 1948

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $35 ($425/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (14.2% below list).
• Recommended offer: $124k (14.2% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 5.2% in Warren — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• Van Dyke Public Schools (urban): math 7% / reading 19% proficiency, ranked #512 of 540 in MI (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.9%/yr); 160 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d 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

• Local home prices are declining (-3.0%/yr); year-one equity from $1k 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

• It's been on market 24 days — a 2% lower offer ($143k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 20y 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 $34k; list at $145k implies a 326% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $124,391 (14.2% below list)

Questions for the listing agent

1. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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 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: 0.86% ✗
• Cap rate: 6.59%
• Cash-on-cash: 1.05%
• DSCR: 1.05
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $82,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
12426 Sidonie Ave	0.11mi	2/1.0	750 (+4%)	4mo	$131,000	$175	85
12832 Sherman Ave	0.23mi	2/1.0	696 (-3%)	2mo	$100,000	$144	82
13075 Sherman Ave	0.32mi	2/1.0	700 (-3%)	6mo	$83,000	$119	76
12856 Couwlier Ave	0.17mi	2/1.0	768 (+7%)	7mo	$57,000	$74	75
22447 Sharrow Ave	0.45mi	2/1.0	696 (-3%)	0mo	$102,000	$147	73
13119 Sherman Ave	0.34mi	2/1.0	696 (-3%)	7mo	$80,000	$115	73
13415 Sherman Ave	0.46mi	2/1.0	710 (-1%)	7mo	$113,300	$160	71
12484 Sherman Ave	0.19mi	2/1.0	800 (+11%)	3mo	$72,000	$90	70
22446 Sharrow Ave	0.47mi	2/1.0	700 (-3%)	7mo	$75,000	$107	68
22705 Sharrow Ave	0.52mi	2/1.0	750 (+4%)	7mo	$80,000	$107	63
20520 Dresden St	0.60mi	2/1.5	680 (-6%)	0mo	$33,000	$49	61
13475 Coleen Ave	0.59mi	2/1.0	672 (-7%)	6mo	$65,000	$97	56

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 · 2.94% rent growth · sell at horizon

5-year hold

• IRR: -14.7%
• Equity multiple: 0.47×
• Total profit: $-21,332
• Equity at exit: $21,620

10-year hold

• IRR: -6.2%
• Equity multiple: 0.60×
• Total profit: $-16,040
• Equity at exit: $12,537

Cash invested: $40,600 (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 48089

• Rents YoY: 2.9%
• Active inventory: 160
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,244 high
• Mortgage (P&I): −$760
• Tax from tax record: −$126 /mo · $1,518/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $35

Break-even live

Break-even rent $1,199

Max offer price $145,000

Occupancy floor 92%

Sensitivity live

Price	-10% $117	-5% $76	+0% $35	+5% $-6	+10% $-47
Rent	-10% $-63	-5% $-14	+0% $35	+5% $85	+10% $134
Rate	-1.0pp $108	-0.5pp $72	base $35	+0.5pp $-2	+1.0pp $-40

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21412 Waltham Rd Warren, MI	2.0	1.0	696	$1,225	$1.76	44d	1	0.13mi
20242 Hickory St Detroit, MI	3.0	1.0	747	$1,300	$1.74	12d	1	0.78mi
11236 Studebaker Ave Warren, MI	2.0	1.0	672	$1,175	$1.75	44d	1	0.83mi
11130 Stephens Rd Warren, MI	2.0	1.0	750	$1,275	$1.70	0d	1	1.34mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	18d	1	1.40mi
19335 Hoover St Detroit, MI	2.0	1.0	620	$1,099	$1.77	44d	1	1.40mi

Listing history 33 events

1. 2026-06-18
   days on market $145,000 Active 24 DOM
2. 2026-06-17
   days on market $145,000 Active 23 DOM
3. 2026-06-16
   days on market $145,000 Active 22 DOM
4. 2026-06-15
   days on market $145,000 Active 21 DOM
5. 2026-06-13
   days on market $145,000 Active 19 DOM
6. 2026-06-13
   days on market $145,000 Active 18 DOM
7. 2026-06-09
   days on market $145,000 Active 15 DOM
8. 2026-06-08
   days on market $145,000 Active 14 DOM
9. 2026-06-07
   days on market $145,000 Active 13 DOM
10. 2026-06-04
    days on market $145,000 Active 10 DOM
11. 2026-06-03
    days on market $145,000 Active 9 DOM
12. 2026-06-02
    days on market $145,000 Active 8 DOM
13. 2026-06-01
    days on market $145,000 Active 7 DOM
14. 2026-05-31
    days on market $145,000 Active 6 DOM
15. 2026-04-13
    status Pending 322-char remark

    Show marketing remark (322 chars)

    This property is conveniently located on major crossroads for easy commute to the city , shopping or work. This property also has an over sized 2 car detached garage as well! Come on down, this one will not last long! Property may only be viewed after accepted offer has been made. Currently rented at $1,248.00 per month.

16. 2026-04-13
    status Pending

    Show marketing remark (322 chars)

    This property is conveniently located on major crossroads for easy commute to the city , shopping or work. This property also has an over sized 2 car detached garage as well! Come on down, this one will not last long! Property may only be viewed after accepted offer has been made. Currently rented at $1,248.00 per month.

17. 2026-04-11
    listed $145,000 Active
18. 2026-04-10
    listed $145,000 Active 322-char remark

    Show marketing remark (322 chars)

    This property is conveniently located on major crossroads for easy commute to the city , shopping or work. This property also has an over sized 2 car detached garage as well! Come on down, this one will not last long! Property may only be viewed after accepted offer has been made. Currently rented at $1,248.00 per month.

19. 2019-08-08
    soldstatus $34,000 Sold 171-char remark

    Show marketing remark (171 chars)

    Highest & Best due Monday, May 6 at 3:00 pm. Great investment property. Tenant occupied, tenant pays $725 month, lease is up 7/31/2019. Please don't disturb tenant.

20. 2019-08-08
    soldstatus $34,000 Closed

    Show marketing remark (171 chars)

    Highest & Best due Monday, May 6 at 3:00 pm. Great investment property. Tenant occupied, tenant pays $725 month, lease is up 7/31/2019. Please don't disturb tenant.

21. 2019-05-06
    status Pending

    Show marketing remark (171 chars)

    Highest & Best due Monday, May 6 at 3:00 pm. Great investment property. Tenant occupied, tenant pays $725 month, lease is up 7/31/2019. Please don't disturb tenant.

22. 2019-05-06
    status Pending 171-char remark

    Show marketing remark (171 chars)

    Highest & Best due Monday, May 6 at 3:00 pm. Great investment property. Tenant occupied, tenant pays $725 month, lease is up 7/31/2019. Please don't disturb tenant.

23. 2019-04-30
    listed $35,000 Active 171-char remark

    Show marketing remark (171 chars)

    Highest & Best due Monday, May 6 at 3:00 pm. Great investment property. Tenant occupied, tenant pays $725 month, lease is up 7/31/2019. Please don't disturb tenant.

24. 2019-04-30
    listed $35,000 Active

    Show marketing remark (171 chars)

    Highest & Best due Monday, May 6 at 3:00 pm. Great investment property. Tenant occupied, tenant pays $725 month, lease is up 7/31/2019. Please don't disturb tenant.

25. 2012-12-05
    soldstatus $31,164
26. 2012-01-25
    soldstatus $25,000
27. 2007-07-12
    historical
28. 2007-07-12
    historical
29. 2006-12-20
    listed $65,900
30. 2006-12-20
    listed $65,900
31. 1994-12-16
    soldstatus $42,572
32. 1991-11-15
    soldstatus $38,000
33. 1990-08-03
    soldstatus $12,900

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

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $1,518 · $126/mo
• Projected year-2 tax: $1,875 · $156/mo
• Expected delta: +$358/yr (+$30/mo · 23.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,927
• − Mortgage interest: −$8,122
• − Property taxes: −$1,518
• − Insurance: −$725
• − Repairs & maintenance: −$1,194
• − Management: −$1,194
• − Depreciation: −$4,218
• Taxable loss: −$2,045
• Est. tax savings @ 24.0%: +$491
• After-tax cash flow: $915/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: Van Dyke Public Schools
• NCES district ID: 2634680
• Math proficiency: 7% ▼ -11.00%
• Reading proficiency: 19% ▼ -5.00%
• Median HH income: $33,231
• Composite: 10.46/100
• National rank: #9784
• State rank: #512 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
• County: Macomb County · 638,552 people
• City population: 114,937
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 31,853
• Household income: $52,366
• Rent vs Own: 43.4% rent · 56.6% own
• Severe rent burden: 1754.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 53% Black 31% Asian 7% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Romanian 11% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Other Asian/Pacific 3% Other Indo-European 2% Arabic 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: ▼ -211.46%
• Current HPI: 154.8325
• Rent YoY: ▲ 2.94%
• 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

+1024.0% since first listed

19 events — show timeline

• 2026-04-13 Pending — MiRealSource-MiMLS
• 2026-04-13 Pending — REALCOMP
• 2026-04-11 Listed $145,000 REALCOMP
• 2026-04-10 Listed $145,000 MiRealSource-MiMLS
• 2019-08-08 Sold (MLS) $34,000 MiRealSource-MiMLS
• 2019-08-08 Sold (MLS) $34,000 REALCOMP
• 2019-05-06 Pending — MiRealSource-MiMLS
• 2019-05-06 Pending — REALCOMP
• 2019-04-30 Listed $35,000 MiRealSource-MiMLS
• 2019-04-30 Listed $35,000 REALCOMP
• 2012-12-05 Sold (Public Records) $31,164 Public Records
• 2012-01-25 Sold (Public Records) $25,000 Public Records
• 2007-07-12 Listing Removed — REALCOMP
• 2007-07-12 Listing Removed — MiRealSource-MiMLS
• 2006-12-20 Listed $65,900 REALCOMP
• 2006-12-20 Listed $65,900 MiRealSource-MiMLS
• 1994-12-16 Sold (Public Records) $42,572 Public Records
• 1991-11-15 Sold (Public Records) $38,000 Public Records
• 1990-08-03 Sold (Public Records) $12,900 Public Records

Property tax history

+2.4%/yr

Latest (2025): $1,518 · +2.6% YoY. Source: county tax records.