9606 Cornell · Taylor, MI 48180

$57,500

2 bd · 1.0 ba · 744 sqft · Condo · 22 Days on market

Built 1970 $77/sqft · at area comps Est $58k · at est. $560/mo HOA · 38% of rent

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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 +28.8/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.6/15.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

744 sq ft 2 bdrm 1 bath, hardwood floors, updated with new light fixtures, plumbing fixtures, granite counter tops in kitchen, microwave oven over stove. Monthly carrying charge is $560.00. This is a Cooperative membership. Cash only! There is a club house available for members to rent. Members carry personal property insurance. Units are not able to be rented. 1 Dog or Cat up to 25 LBS.

Key facts

• Plumbing fixtures
• Hardwood floors
• $560 HOA

Tags

• HARDWOOD FLOORS
• PLUMBING FIXTURES

Property features AI

Finance

• Other: Directions: Go south on Cornell off of Haig (south of Haig, east of Telegraph)
• HOA & community: Homeowners association with monthly fee of $560; HOA covers gas, insurance, grounds maintenance, sewer, snow removal, trash, and water

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Residential condominium; Two levels; Ground-level entry with steps
• Construction: Brick and vinyl siding exterior; Brick/mortar foundation
• Exterior features: Paved road access; Pets allowed — contact association for details

Interior

• Bedrooms: Total rooms: 4
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Gas water heater; Unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $58k.

Deal economics

• At list price, monthly cash flow is $192 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $58k).
• Recommended offer: $57k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.3% 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; 2 comparable units currently listed for rent nearby; 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 $398 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 $16k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 6y 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 $30k; list at $58k implies a 92% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 38% of rent.

Recommended offer $56,637 (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: 2.53% ✓
• Cap rate: 10.31%
• Cash-on-cash: 14.34%
• DSCR: 1.64
• GRM: 3.3

CMA / ARV

• ARV (median comp): $57,662
• List price: $57,500
• Delta: -0.28%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 9.2%
• Equity multiple: 1.38×
• Total profit: $6,136
• Equity at exit: $8,573

10-year hold

• IRR: 21.4%
• Equity multiple: 3.16×
• Total profit: $34,702
• Equity at exit: $4,972

Cash invested: $16,100 (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: 3.3×

Monthly cashflow live

• Estimated rent: $1,455 medium
• Mortgage (P&I): −$302
• Tax est. 1.5%: −$72 /mo · $862/yr
• Insurance: −$24
• HOA: −$560
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $192

Break-even live

Break-even rent $1,212

Max offer price $57,500

Occupancy floor 82%

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: $14,375
• Closing costs: $1,725
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24268 Haskell St Taylor, MI	1.0–2.0	1.0	880	$1,565	$1.78	1d	8	0.68mi
7873 Syracuse St Taylor, MI	2.0	1.0	728	$1,400	$1.92	43d	1	0.99mi

HOA detail condo

• Monthly dues: $560 · $6,720/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-18
   days on market $57,500 Active 22 DOM
2. 2026-06-17
   days on market $57,500 Active 21 DOM
3. 2026-06-16
   days on market $57,500 Active 20 DOM
4. 2026-06-15
   days on market $57,500 Active 19 DOM
5. 2026-06-13
   days on market $57,500 Active 17 DOM
6. 2026-06-13
   days on market $57,500 Active 16 DOM
7. 2026-06-09
   days on market $57,500 Active 13 DOM
8. 2026-06-08
   days on market $57,500 Active 12 DOM
9. 2026-06-07
   days on market $57,500 Active 11 DOM
10. 2026-06-04
    status $57,500 Active 8 DOM

    Show marketing remark (390 chars)

    744 sq ft 2 bdrm 1 bath, hardwood floors, updated with new light fixtures, plumbing fixtures, granite counter tops in kitchen, microwave oven over stove. Monthly carrying charge is $560.00. This is a Cooperative membership. Cash only! There is a club house available for members to rent. Members carry personal property insurance. Units are not able to be rented. 1 Dog or Cat up to 25 LBS.

11. 2026-05-16
    status Pending 390-char remark

    Show marketing remark (390 chars)

    744 sq ft 2 bdrm 1 bath, hardwood floors, updated with new light fixtures, plumbing fixtures, granite counter tops in kitchen, microwave oven over stove. Monthly carrying charge is $560.00. This is a Cooperative membership. Cash only! There is a club house available for members to rent. Members carry personal property insurance. Units are not able to be rented. 1 Dog or Cat up to 25 LBS.

12. 2026-05-16
    status Pending 390-char remark

    Show marketing remark (390 chars)

    744 sq ft 2 bdrm 1 bath, hardwood floors, updated with new light fixtures, plumbing fixtures, granite counter tops in kitchen, microwave oven over stove. Monthly carrying charge is $560.00. This is a Cooperative membership. Cash only! There is a club house available for members to rent. Members carry personal property insurance. Units are not able to be rented. 1 Dog or Cat up to 25 LBS.

13. 2026-05-08
    listed $57,500 Active 390-char remark

    Show marketing remark (390 chars)

    744 sq ft 2 bdrm 1 bath, hardwood floors, updated with new light fixtures, plumbing fixtures, granite counter tops in kitchen, microwave oven over stove. Monthly carrying charge is $560.00. This is a Cooperative membership. Cash only! There is a club house available for members to rent. Members carry personal property insurance. Units are not able to be rented. 1 Dog or Cat up to 25 LBS.

14. 2026-05-08
    listed $57,500 Active 390-char remark

    Show marketing remark (390 chars)

    744 sq ft 2 bdrm 1 bath, hardwood floors, updated with new light fixtures, plumbing fixtures, granite counter tops in kitchen, microwave oven over stove. Monthly carrying charge is $560.00. This is a Cooperative membership. Cash only! There is a club house available for members to rent. Members carry personal property insurance. Units are not able to be rented. 1 Dog or Cat up to 25 LBS.

15. 2020-08-31
    soldstatus $29,900 Sold

    Show marketing remark (422 chars)

    This one is 744 sq ft 2 bdrm 1 bath, hardwood floors, updated with new light fixtures, plumbing fixtures, granite counter tops in kitchen, microwave oven over stove. Monthly carrying charge is $560.00. This is a Cooperative membership. Cash only! There is a club house available for members to rent. Members carry personal property insurance. Units are not able to be rented. 1 Dog or Cat up to 25 LBS $560.00 Monthly dues

16. 2020-08-31
    soldstatus $29,900 Closed

    Show marketing remark (422 chars)

    This one is 744 sq ft 2 bdrm 1 bath, hardwood floors, updated with new light fixtures, plumbing fixtures, granite counter tops in kitchen, microwave oven over stove. Monthly carrying charge is $560.00. This is a Cooperative membership. Cash only! There is a club house available for members to rent. Members carry personal property insurance. Units are not able to be rented. 1 Dog or Cat up to 25 LBS $560.00 Monthly dues

17. 2020-08-27
    status Pending

    Show marketing remark (422 chars)

    This one is 744 sq ft 2 bdrm 1 bath, hardwood floors, updated with new light fixtures, plumbing fixtures, granite counter tops in kitchen, microwave oven over stove. Monthly carrying charge is $560.00. This is a Cooperative membership. Cash only! There is a club house available for members to rent. Members carry personal property insurance. Units are not able to be rented. 1 Dog or Cat up to 25 LBS $560.00 Monthly dues

18. 2020-08-27
    status Pending

    Show marketing remark (422 chars)

    This one is 744 sq ft 2 bdrm 1 bath, hardwood floors, updated with new light fixtures, plumbing fixtures, granite counter tops in kitchen, microwave oven over stove. Monthly carrying charge is $560.00. This is a Cooperative membership. Cash only! There is a club house available for members to rent. Members carry personal property insurance. Units are not able to be rented. 1 Dog or Cat up to 25 LBS $560.00 Monthly dues

19. 2020-08-25
    historical Accepting Backup Offers

    Show marketing remark (422 chars)

    This one is 744 sq ft 2 bdrm 1 bath, hardwood floors, updated with new light fixtures, plumbing fixtures, granite counter tops in kitchen, microwave oven over stove. Monthly carrying charge is $560.00. This is a Cooperative membership. Cash only! There is a club house available for members to rent. Members carry personal property insurance. Units are not able to be rented. 1 Dog or Cat up to 25 LBS $560.00 Monthly dues

20. 2020-08-25
    historical Accepting Backup Offers

    Show marketing remark (422 chars)

    This one is 744 sq ft 2 bdrm 1 bath, hardwood floors, updated with new light fixtures, plumbing fixtures, granite counter tops in kitchen, microwave oven over stove. Monthly carrying charge is $560.00. This is a Cooperative membership. Cash only! There is a club house available for members to rent. Members carry personal property insurance. Units are not able to be rented. 1 Dog or Cat up to 25 LBS $560.00 Monthly dues

21. 2020-08-20
    status Active

    Show marketing remark (422 chars)

    This one is 744 sq ft 2 bdrm 1 bath, hardwood floors, updated with new light fixtures, plumbing fixtures, granite counter tops in kitchen, microwave oven over stove. Monthly carrying charge is $560.00. This is a Cooperative membership. Cash only! There is a club house available for members to rent. Members carry personal property insurance. Units are not able to be rented. 1 Dog or Cat up to 25 LBS $560.00 Monthly dues

22. 2020-08-20
    status Active

    Show marketing remark (422 chars)

    This one is 744 sq ft 2 bdrm 1 bath, hardwood floors, updated with new light fixtures, plumbing fixtures, granite counter tops in kitchen, microwave oven over stove. Monthly carrying charge is $560.00. This is a Cooperative membership. Cash only! There is a club house available for members to rent. Members carry personal property insurance. Units are not able to be rented. 1 Dog or Cat up to 25 LBS $560.00 Monthly dues

23. 2020-08-03
    historical Accepting Backup Offers

    Show marketing remark (422 chars)

    This one is 744 sq ft 2 bdrm 1 bath, hardwood floors, updated with new light fixtures, plumbing fixtures, granite counter tops in kitchen, microwave oven over stove. Monthly carrying charge is $560.00. This is a Cooperative membership. Cash only! There is a club house available for members to rent. Members carry personal property insurance. Units are not able to be rented. 1 Dog or Cat up to 25 LBS $560.00 Monthly dues

24. 2020-08-03
    historical Accepting Backup Offers

    Show marketing remark (422 chars)

    This one is 744 sq ft 2 bdrm 1 bath, hardwood floors, updated with new light fixtures, plumbing fixtures, granite counter tops in kitchen, microwave oven over stove. Monthly carrying charge is $560.00. This is a Cooperative membership. Cash only! There is a club house available for members to rent. Members carry personal property insurance. Units are not able to be rented. 1 Dog or Cat up to 25 LBS $560.00 Monthly dues

25. 2020-06-01
    status Pending

    Show marketing remark (422 chars)

    This one is 744 sq ft 2 bdrm 1 bath, hardwood floors, updated with new light fixtures, plumbing fixtures, granite counter tops in kitchen, microwave oven over stove. Monthly carrying charge is $560.00. This is a Cooperative membership. Cash only! There is a club house available for members to rent. Members carry personal property insurance. Units are not able to be rented. 1 Dog or Cat up to 25 LBS $560.00 Monthly dues

26. 2020-06-01
    status Pending

    Show marketing remark (422 chars)

    This one is 744 sq ft 2 bdrm 1 bath, hardwood floors, updated with new light fixtures, plumbing fixtures, granite counter tops in kitchen, microwave oven over stove. Monthly carrying charge is $560.00. This is a Cooperative membership. Cash only! There is a club house available for members to rent. Members carry personal property insurance. Units are not able to be rented. 1 Dog or Cat up to 25 LBS $560.00 Monthly dues

27. 2020-02-17
    listed $29,900 Active

    Show marketing remark (422 chars)

    This one is 744 sq ft 2 bdrm 1 bath, hardwood floors, updated with new light fixtures, plumbing fixtures, granite counter tops in kitchen, microwave oven over stove. Monthly carrying charge is $560.00. This is a Cooperative membership. Cash only! There is a club house available for members to rent. Members carry personal property insurance. Units are not able to be rented. 1 Dog or Cat up to 25 LBS $560.00 Monthly dues

28. 2020-02-17
    listed $29,900 Active

    Show marketing remark (422 chars)

    This one is 744 sq ft 2 bdrm 1 bath, hardwood floors, updated with new light fixtures, plumbing fixtures, granite counter tops in kitchen, microwave oven over stove. Monthly carrying charge is $560.00. This is a Cooperative membership. Cash only! There is a club house available for members to rent. Members carry personal property insurance. Units are not able to be rented. 1 Dog or Cat up to 25 LBS $560.00 Monthly dues

ⓘ 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: $17,465
• − Mortgage interest: −$3,221
• − Property taxes: −$862
• − Insurance: −$288
• − Repairs & maintenance: −$1,397
• − Management: −$1,397
• − HOA: −$6,720
• − Depreciation: −$1,673
• Taxable income: $1,907
• Est. tax owed @ 24.0%: −$458
• After-tax cash flow: $1,851/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: 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

+92.3% since first listed

20 events — show timeline

• 2026-06-04 Relisted — MiRealSource-MiMLS
• 2026-06-04 Relisted — REALCOMP
• 2026-05-16 Pending — MiRealSource-MiMLS
• 2026-05-16 Pending — REALCOMP
• 2026-05-08 Listed $57,500 REALCOMP
• 2026-05-08 Listed $57,500 MiRealSource-MiMLS
• 2020-08-31 Sold (MLS) $29,900 MiRealSource-MiMLS
• 2020-08-31 Sold (MLS) $29,900 REALCOMP
• 2020-08-27 Pending — MiRealSource-MiMLS
• 2020-08-27 Pending — REALCOMP
• 2020-08-25 Contingent — MiRealSource-MiMLS
• 2020-08-25 Contingent — REALCOMP
• 2020-08-20 Relisted — MiRealSource-MiMLS
• 2020-08-20 Relisted — REALCOMP
• 2020-08-03 Contingent — MiRealSource-MiMLS
• 2020-08-03 Contingent — REALCOMP
• 2020-06-01 Pending — MiRealSource-MiMLS
• 2020-06-01 Pending — REALCOMP
• 2020-02-17 Listed $29,900 MiRealSource-MiMLS
• 2020-02-17 Listed $29,900 REALCOMP