31842 Kelly Rd · Roseville, MI 48066

$90,000

2 bd · 1.0 ba · 797 sqft · Condo · 69 Days on market

Built 1988 Good condition $113/sqft · 12% above area Est $80k · 12% over $275/mo HOA · 22% 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 +19.3/30.0
• 1% rule +9.0/10.0
• DSCR +6.1/10.0
• Condition / age +3.8/5.0
• Livability +3.6/5.0
• Rent growth +2.6/5.0
• ARV discount +2.0/15.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this affordable 2-bedroom, 1-bath condo offering comfort and peace of mind with key updates already completed. The full bathroom was remodeled in 2025, giving the space a fresh, modern feel. Major mechanical updates include a newer furnace (2018) and hot water tank (2022), helping reduce future maintenance concerns. Spacious bedrooms with walk-in closet, functional layout, and low-maintenance condo living make this a great opportunity for owner-occupants or investors alike. Move right in and enjoy!

Key facts

• $275 HOA
• Built 1988
• Listed 69 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $90k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $98 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.6% vs local median 5.9% in Roseville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 72/100 on livability (#258 in MI) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety D+, employment D, crime F.
• Roseville Community Schools (suburban): math 11% / reading 24% proficiency, ranked #483 of 540 in MI (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Roseville High School (math 12% / reading 27%, grade F, #622 of 713 statewide, top 88%, 1,216 students, 70% FRL).
• Market conditions: Rents flat; 269 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 17d 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 $622 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 69 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 30y ago; this cycle's ask has dropped $30k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $60k; list at $90k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.

Recommended offer $84,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
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: 1.40% ✓
• Cap rate: 7.60%
• Cash-on-cash: 4.68%
• DSCR: 1.21
• GRM: 6.0

CMA / ARV

• ARV (median comp): $80,201
• List price: $90,000
• Delta: 12.22%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.39% rent growth · sell at horizon

5-year hold

• IRR: -12.9%
• Equity multiple: 0.55×
• Total profit: $-11,356
• Equity at exit: $13,419

10-year hold

• IRR: -10.6%
• Equity multiple: 0.46×
• Total profit: $-13,618
• Equity at exit: $7,782

Cash invested: $25,200 (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 48066

• Rents YoY: 0.4%
• Active inventory: 269
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,260 high
• Mortgage (P&I): −$472
• Tax est. 1.5%: −$112 /mo · $1,350/yr
• Insurance: −$38
• HOA: −$275
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $98

Break-even live

Break-even rent $1,135

Max offer price $90,000

Occupancy floor 87%

Sensitivity live

Price	-10% $161	-5% $129	+0% $98	+5% $67	+10% $36
Rent	-10% $-1	-5% $49	+0% $98	+5% $148	+10% $198
Rate	-1.0pp $144	-0.5pp $121	base $98	+0.5pp $75	+1.0pp $51

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18391 Masonic Apt 1 Fraser, MI	2.0	1.0	720	$995	$1.38	18d	1	0.31mi
19040 E 13 Mile Rd Roseville, MI	3.0	1.0	1008	$1,550	$1.54	0d	1	0.49mi
19054 E 13 Mile Rd Roseville, MI	3.0	1.0	1066	$1,600	$1.50	0d	1	0.49mi
32870 Kelly Rd Roseville, MI	1.0	1.0	800	$965	$1.21	18d	1	0.54mi
18600 14 Mile Rd Fraser, MI	2.0	1.0	1070	$1,195	$1.12	26d	1	0.54mi
19700 Masonic Roseville, MI	1.0–2.0	1.0	874	$1,400	$1.60	1d	11	0.57mi
17134 E Thirteen Mile Rd Roseville, MI	1.0–2.0	1.0	825	$1,269	$1.54	3d	16	0.85mi
30512 Oakridge Manor Dr Roseville, MI	2.0	1.5	1002	$1,350	$1.35	26d	1	0.93mi
16951 General Ave Fraser, MI	2.0	1.0	900	$1,250	$1.39	6d	1	0.95mi
30761 Hidden Pines Ln Roseville, MI	2.0	1.0	877	$1,295	$1.48	0d	1	0.99mi
30583 Hidden Pines Ln Roseville, MI	2.0	2.0	1100	$1,250	$1.14	18d	1	1.04mi
16950 Kennedy Dr E Fraser, MI	1.0–2.0	1.0	755	$1,125	$1.49	16d	2	1.16mi
31577 Fraser Dr #3 Fraser, MI	2.0	1.0	950	$1,250	$1.32	45d	1	1.16mi
30600 Little Mack Ave Roseville, MI	1.0–2.0	1.0	900	$1,210	$1.34	0d	6	1.28mi

HOA detail condo

• Monthly dues: $275 · $3,300/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-05-11
   status Pending 519-char remark

   Show marketing remark (519 chars)

   Welcome home to this affordable 2-bedroom, 1-bath condo offering comfort and peace of mind with key updates already completed. The full bathroom was remodeled in 2025, giving the space a fresh, modern feel. Major mechanical updates include a newer furnace (2018) and hot water tank (2022), helping reduce future maintenance concerns. Spacious bedrooms with walk-in closet, functional layout, and low-maintenance condo living make this a great opportunity for owner-occupants or investors alike. Move right in and enjoy!

2. 2026-05-11
   status Pending 519-char remark

   Show marketing remark (519 chars)

   Welcome home to this affordable 2-bedroom, 1-bath condo offering comfort and peace of mind with key updates already completed. The full bathroom was remodeled in 2025, giving the space a fresh, modern feel. Major mechanical updates include a newer furnace (2018) and hot water tank (2022), helping reduce future maintenance concerns. Spacious bedrooms with walk-in closet, functional layout, and low-maintenance condo living make this a great opportunity for owner-occupants or investors alike. Move right in and enjoy!

3. 2026-04-16
   price $90,000 519-char remark

   Show marketing remark (519 chars)

   Welcome home to this affordable 2-bedroom, 1-bath condo offering comfort and peace of mind with key updates already completed. The full bathroom was remodeled in 2025, giving the space a fresh, modern feel. Major mechanical updates include a newer furnace (2018) and hot water tank (2022), helping reduce future maintenance concerns. Spacious bedrooms with walk-in closet, functional layout, and low-maintenance condo living make this a great opportunity for owner-occupants or investors alike. Move right in and enjoy!

4. 2026-04-16
   price $90,000 519-char remark

   Show marketing remark (519 chars)

   Welcome home to this affordable 2-bedroom, 1-bath condo offering comfort and peace of mind with key updates already completed. The full bathroom was remodeled in 2025, giving the space a fresh, modern feel. Major mechanical updates include a newer furnace (2018) and hot water tank (2022), helping reduce future maintenance concerns. Spacious bedrooms with walk-in closet, functional layout, and low-maintenance condo living make this a great opportunity for owner-occupants or investors alike. Move right in and enjoy!

5. 2026-03-31
   price $110,000 519-char remark

   Show marketing remark (519 chars)

   Welcome home to this affordable 2-bedroom, 1-bath condo offering comfort and peace of mind with key updates already completed. The full bathroom was remodeled in 2025, giving the space a fresh, modern feel. Major mechanical updates include a newer furnace (2018) and hot water tank (2022), helping reduce future maintenance concerns. Spacious bedrooms with walk-in closet, functional layout, and low-maintenance condo living make this a great opportunity for owner-occupants or investors alike. Move right in and enjoy!

6. 2026-03-31
   price $110,000 519-char remark

   Show marketing remark (519 chars)

   Welcome home to this affordable 2-bedroom, 1-bath condo offering comfort and peace of mind with key updates already completed. The full bathroom was remodeled in 2025, giving the space a fresh, modern feel. Major mechanical updates include a newer furnace (2018) and hot water tank (2022), helping reduce future maintenance concerns. Spacious bedrooms with walk-in closet, functional layout, and low-maintenance condo living make this a great opportunity for owner-occupants or investors alike. Move right in and enjoy!

7. 2026-03-03
   listed $120,000 Active 519-char remark

   Show marketing remark (519 chars)

   Welcome home to this affordable 2-bedroom, 1-bath condo offering comfort and peace of mind with key updates already completed. The full bathroom was remodeled in 2025, giving the space a fresh, modern feel. Major mechanical updates include a newer furnace (2018) and hot water tank (2022), helping reduce future maintenance concerns. Spacious bedrooms with walk-in closet, functional layout, and low-maintenance condo living make this a great opportunity for owner-occupants or investors alike. Move right in and enjoy!

8. 2026-03-03
   listed $120,000 Active 519-char remark

   Show marketing remark (519 chars)

   Welcome home to this affordable 2-bedroom, 1-bath condo offering comfort and peace of mind with key updates already completed. The full bathroom was remodeled in 2025, giving the space a fresh, modern feel. Major mechanical updates include a newer furnace (2018) and hot water tank (2022), helping reduce future maintenance concerns. Spacious bedrooms with walk-in closet, functional layout, and low-maintenance condo living make this a great opportunity for owner-occupants or investors alike. Move right in and enjoy!

9. 1996-10-11
   soldstatus $60,000
10. 1996-09-17
    historical
11. 1996-09-10
    listed $61,900

ⓘ 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: $15,119
• − Mortgage interest: −$5,041
• − Property taxes: −$1,350
• − Insurance: −$450
• − Repairs & maintenance: −$1,210
• − Management: −$1,210
• − HOA: −$3,300
• − Depreciation: −$2,618
• Taxable loss: −$60
• Est. tax savings @ 24.0%: +$14
• After-tax cash flow: $1,195/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 · 2 photos

Good 75/100 Cosmetic rehab

This affordable 2-bedroom, 1-bath condo is in good condition with recent updates to the bathroom and mechanical systems. It offers a great opportunity for owner-occupants or investors with a focus on low-maintenance living.

Value-add opportunities

• Both Paint the exterior siding — Painting the exterior siding can enhance the curb appeal and increase the property's value for both resale and rental.
• Both Upgrade the landscaping — A well-maintained and aesthetically pleasing landscape can significantly boost the property's curb appeal and attract more potential buyers or renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the exterior siding — Painting the exterior siding can enhance the curb appeal and increase the property's value for both resale and rental. ↑
• Both Upgrade the landscaping — A well-maintained and aesthetically pleasing landscape can significantly boost the property's curb appeal and attract more potential buyers or renters. ↑

ⓘ 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: Roseville Community Schools
• NCES district ID: 2630210
• Math proficiency: 11% ▼ -8.00%
• Reading proficiency: 24% ▼ -7.00%
• Median HH income: $41,590
• Composite: 14.98/100
• National rank: #9363
• State rank: #483 of 540 in MI

Livability — Roseville

• Score: 72/100
• State rank: #258
• US rank: #6400

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Roseville, MI
• County: Macomb County · 638,552 people
• City population: 47,123
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 47,123
• Household income: $62,182
• Rent vs Own: 34.4% rent · 65.6% own
• Severe rent burden: 1712.0

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: Predominantly White (65%)
• Race & ethnicity: White 65% Black 23% Two or more races 7% Hispanic / Latino 4% Asian 2%
• Common ancestry: Romanian 12% Lithuanian 4% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 2% Russian/Polish/Slavic 1% 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: ▼ -232.95%
• Current HPI: 217.4171
• Rent YoY: ▲ 0.39%
• 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

+45.4% since first listed

11 events — show timeline

• 2026-05-11 Pending — MiRealSource-MiMLS
• 2026-05-11 Pending — REALCOMP
• 2026-04-16 Price Changed $90,000 MiRealSource-MiMLS
• 2026-04-16 Price Changed $90,000 REALCOMP
• 2026-03-31 Price Changed $110,000 MiRealSource-MiMLS
• 2026-03-31 Price Changed $110,000 REALCOMP
• 2026-03-03 Listed $120,000 REALCOMP
• 2026-03-03 Listed $120,000 MiRealSource-MiMLS
• 1996-10-11 Sold (MLS) $60,000 MiRealSource-MiMLS
• 1996-09-17 Listing Removed — MiRealSource-MiMLS
• 1996-09-10 Listed $61,900 MiRealSource-MiMLS