16140 Clarkson Dr Apt 4 · Fraser, MI 48026

$124,000

2 bd · 1.0 ba · 808 sqft · Condo public records · 223 Days on market

Built 1986 $153/sqft · 32% above area Est $94k · 32% over

---

Why this score? — see what drove the F 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 +12.9/30.0
• 1% rule +5.5/10.0
• Livability +4.0/5.0
• DSCR +3.9/10.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully updated, move-in ready 2-bedroom, 1-bath first-floor condo located in a quiet, well-maintained complex near 15 Mile & Utica. Enjoy the convenience of a first-floor entry and your own assigned carport, with plenty of additional parking available for guests. This condo offers modern comfort and low-maintenance living with numerous recent updates, including: New furnace (2023) New Pella windows and doorwall (2023) New laminate flooring throughout (2025) Modern updates throughout (2025) Onsite shared washer and dryer for residents Perfectly situated within minutes of Meijer, restaurants, shopping, and only 12 minutes from I-94, this condo offers a convenient lifestyle in a desirable Fraser location. Move right in and enjoy stylish, maintenance-free living in a great community! For more details or to schedule a showing, contact us today!

Key facts

• First floor entry
• New furnace
• New pella windows

Tags

• FIRST FLOOR ENTRY
• ASSIGNED CARPORT
• NEW FURNACE
• NEW PELLA WINDOWS
• NEW LAMINATE FLOORING
• ONSITE SHARED WASHER AND DRYER

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $124k.

Deal economics

• At list price, monthly cash flow is $-9 ($-105/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $124k).
• Recommended offer: $109k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.2% vs local median 3.5% in Fraser — 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 81/100 on livability (#68 in MI, #1,459 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, commute A-; Watch: amenities F.
• Fraser Public Schools (suburban): math 31% / reading 43% proficiency, ranked #244 of 540 in MI (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 66 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 $857 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 223 days — a 12% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $90k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $109,120 (12.0% 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. It's been on market 223 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
8. 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?
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: 1.05% ✓
• Cap rate: 6.21%
• Cash-on-cash: -0.30%
• DSCR: 0.99
• GRM: 7.9

CMA / ARV

• ARV (median comp): $93,836
• List price: $124,000
• Delta: 32.14%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -16.7%
• Equity multiple: 0.41×
• Total profit: $-20,522
• Equity at exit: $18,489

10-year hold

• IRR: -8.3%
• Equity multiple: 0.48×
• Total profit: $-18,060
• Equity at exit: $10,721

Cash invested: $34,720 (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 48026

• Active inventory: 66
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,302 high
• Mortgage (P&I): −$650
• Tax from tax record: −$85 /mo · $1,024/yr
• Insurance: −$52
• HOA est. from 1 same-building comp: −$250
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $-9

Break-even live

Break-even rent $1,313

Max offer price $122,449

Occupancy floor 96%

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: $31,000
• Closing costs: $3,720
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
34673 Clarkson Dr E #78 Fraser, MI	2.0	1.0	808	$1,150	$1.42	22d	1	0.07mi
34632 Mercer Ln Fraser, MI	2.0	1.0	894	$1,295	$1.45	3d	1	0.24mi
16525 Woodlane #138 Fraser, MI	2.0	2.0	1061	$1,400	$1.32	44d	1	0.26mi
34917 Hamilton Dr Fraser, MI	2.0	1.0	800	$1,395	$1.74	24d	1	0.33mi
33630 Utica Rd Fraser, MI	1.0	1.0	832	$1,425	$1.71	44d	1	0.51mi
16695 Washington Sq Clinton Twp, MI	1.0–2.0	1.0	760	$1,350	$1.78	44d	1	0.52mi
0 Woodland MDWS Update, MI	1.0–2.0	1.0–2.0	1002	$2,052	$2.05	2d	9	0.66mi
16950 Kennedy Dr E Fraser, MI	1.0–2.0	1.0	755	$1,125	$1.49	15d	2	0.92mi
36607 Holiday Cir E Clinton Twp, MI	1.0–2.0	1.0	775	$1,249	$1.61	44d	2	1.17mi
16951 General Ave Fraser, MI	2.0	1.0	900	$1,250	$1.39	5d	1	1.29mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 17 events

1. 2026-06-18
   days on market $124,000 Active 223 DOM
2. 2026-06-17
   days on market $124,000 Active 222 DOM
3. 2026-06-16
   days on market $124,000 Active 221 DOM
4. 2026-06-15
   days on market $124,000 Active 220 DOM
5. 2026-06-13
   days on market $124,000 Active 218 DOM
6. 2026-06-13
   days on market $124,000 Active 217 DOM
7. 2026-06-09
   days on market $124,000 Active 214 DOM
8. 2026-06-08
   days on market $124,000 Active 213 DOM
9. 2026-06-07
   days on market $124,000 Active 212 DOM
10. 2026-06-04
    days on market $124,000 Active 209 DOM
11. 2026-06-03
    days on market $124,000 Active 208 DOM
12. 2026-06-02
    days on market $124,000 Active 207 DOM
13. 2026-06-01
    days on market $124,000 Active 206 DOM
14. 2026-05-31
    days on market $124,000 Active 205 DOM
15. 2025-11-03
    listed $124,000 Active 881-char remark

    Show marketing remark (881 chars)

    Welcome to this beautifully updated, move-in ready 2-bedroom, 1-bath first-floor condo located in a quiet, well-maintained complex near 15 Mile & Utica. Enjoy the convenience of a first-floor entry and your own assigned carport, with plenty of additional parking available for guests. This condo offers modern comfort and low-maintenance living with numerous recent updates, including: New furnace (2023) New Pella windows and doorwall (2023) New laminate flooring throughout (2025) Modern updates throughout (2025) Onsite shared washer and dryer for residents Perfectly situated within minutes of Meijer, restaurants, shopping, and only 12 minutes from I-94, this condo offers a convenient lifestyle in a desirable Fraser location. Move right in and enjoy stylish, maintenance-free living in a great community! For more details or to schedule a showing, contact us today!

16. 2025-06-03
    soldstatus $90,000
17. 2001-09-26
    soldstatus $61,000

ⓘ 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: $1,024 · $85/mo
• Projected year-2 tax: $1,467 · $122/mo
• Expected delta: +$443/yr (+$37/mo · 43.3%)

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

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 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,622
• − Mortgage interest: −$6,946
• − Property taxes: −$1,024
• − Insurance: −$620
• − Repairs & maintenance: −$1,250
• − Management: −$1,250
• − HOA: −$3,000
• − Depreciation: −$3,607
• Taxable loss: −$2,074
• Est. tax savings @ 24.0%: +$498
• After-tax cash flow: $392/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: Fraser Public Schools
• NCES district ID: 2614820
• Math proficiency: 31% ▼ -12.00%
• Reading proficiency: 43% ▼ -10.00%
• Median HH income: $49,752
• Composite: 31.94/100
• National rank: #5846
• State rank: #244 of 540 in MI

Livability — Fraser

• Score: 81/100
• State rank: #68
• US rank: #1459

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fraser, MI
• City population: 14,604
• Population (ZIP): 14,604

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 (81%)
• Race & ethnicity: White 81% Black 9% Two or more races 6% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 18% Lithuanian 3% Slovak 3%
• Foreign-born: 7% · Canada, South Korea, China
• Languages at home: 89% English-only · Other Indo-European 4% Arabic 2% Spanish 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: ▼ -210.50%
• Current HPI: 184.7521
• 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

+103.3% since first listed

3 events — show timeline

• 2025-11-03 Listed $124,000 Fizber.com
• 2025-06-03 Sold (Public Records) $90,000 Public Records
• 2001-09-26 Sold (Public Records) $61,000 Public Records

Property tax history

+2.2%/yr

Latest (2025): $1,024 · +2.7% YoY. Source: county tax records.