11960 E Fort Lauderdale St · Warren, MI 48093

$149,900

2 bd · 2.0 ba · 1,293 sqft · Condo · 101 Days on market

Built 1974 ↓ 6% since listing

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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 +14.5/30.0
• ARV discount +7.5/15.0
• 1% rule +6.0/10.0
• DSCR +4.4/10.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming ranch-style condo in Warren offering great space and potential. This unit features an attached garage, a private courtyard, a basement with a family room, and a comfortable layout ready for your personal touch. With a little creativity and attention to detail, this condo can be transformed into a warm and inviting home. A wonderful opportunity to make it your own in a convenient and desirable location. Sale subject to court approval.

Key facts

• Attached garage
• Ranch-style condo
• Convenient location

Tags

• RANCH-STYLE CONDO
• ATTACHED GARAGE
• PRIVATE COURTYARD
• BASEMENT WITH FAMILY ROOM
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $33 ($393/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $136k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.6% vs local median 5.3% 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.
• Warren Woods Public Schools (urban): math 23% / reading 40% proficiency, ranked #336 of 540 in MI (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.5%/yr); 122 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $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 101 days — a 9% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $136,409 (9.0% below list)

Questions for the listing agent

1. It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
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. 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?
10. 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.
11. 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.
12. 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: 1.10% ✓
• Cap rate: 6.55%
• Cash-on-cash: 0.94%
• DSCR: 1.04
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.52% rent growth · sell at horizon

5-year hold

• IRR: -15.3%
• Equity multiple: 0.46×
• Total profit: $-22,830
• Equity at exit: $22,351

10-year hold

• IRR: -7.6%
• Equity multiple: 0.53×
• Total profit: $-19,733
• Equity at exit: $12,961

Cash invested: $41,972 (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 48093

• Rents YoY: 2.5%
• Active inventory: 122
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,650 high
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA est. from 2 same-building comps: −$235
• Vacancy / Maint / Mgmt: −$347
• Net cashflow: $33

Break-even live

Break-even rent $1,609

Max offer price $149,900

Occupancy floor 93%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28250 Hoover Rd Warren, MI	1.0–2.0	1.0–2.0	912	$1,705	$1.87	2d	17	0.27mi
28801 Imperial Dr Warren, MI	1.0–2.0	1.0	887	$1,205	$1.36	16d	6	0.49mi
11809 McKinley Dr Warren, MI	3.0	1.5	1212	$1,800	$1.49	17d	1	0.61mi
13250 De Mott Dr Warren, MI	3.0	1.5	1386	$1,900	$1.37	43d	1	0.64mi
11116 Racine Rd Warren, MI	3.0	1.5	1433	$2,000	$1.40	1d	1	1.03mi
29250 Longview Ave Apt 14 Warren, MI	2.0	1.0	950	$1,000	$1.05	43d	1	1.15mi
8429 Towne Center Cir S #52 Warren, MI	2.0	2.0	1240	$1,775	$1.43	24d	1	1.20mi
8459 Towne Center Cir N #96 Warren, MI	2.0	2.5	1646	$2,000	$1.22	1d	1	1.24mi
8457 Towne Center Cir Unit 90 Warren, MI	2.0	2.0	1319	$1,800	$1.36	43d	1	1.25mi
8625 Dale Center Line, MI	3.0	1.5	1179	$1,796	$1.52	43d	1	1.25mi
29400 Towne Center Cir Warren, MI	1.0–3.0	1.0–2.0	1114	$1,749	$1.57	1d	1	1.27mi
25146 Wagner Ave Warren, MI	3.0	1.0	906	$1,900	$2.10	24d	1	1.33mi
30428 Iroquois Dr Warren, MI	3.0	1.0	1000	$1,800	$1.80	1d	1	1.34mi
11404 Warren Blvd Unit 102 Warren, MI	2.0	1.0	900	$1,250	$1.39	24d	1	1.38mi

HOA detail condo

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

Listing history 6 events

1. 2026-01-29
   status Pending 446-char remark

   Show marketing remark (446 chars)

   Charming ranch-style condo in Warren offering great space and potential. This unit features an attached garage, a private courtyard, a basement with a family room, and a comfortable layout ready for your personal touch. With a little creativity and attention to detail, this condo can be transformed into a warm and inviting home. A wonderful opportunity to make it your own in a convenient and desirable location. Sale subject to court approval.

2. 2026-01-29
   status Pending

   Show marketing remark (446 chars)

   Charming ranch-style condo in Warren offering great space and potential. This unit features an attached garage, a private courtyard, a basement with a family room, and a comfortable layout ready for your personal touch. With a little creativity and attention to detail, this condo can be transformed into a warm and inviting home. A wonderful opportunity to make it your own in a convenient and desirable location. Sale subject to court approval.

3. 2025-12-27
   price $149,900 446-char remark

   Show marketing remark (446 chars)

   Charming ranch-style condo in Warren offering great space and potential. This unit features an attached garage, a private courtyard, a basement with a family room, and a comfortable layout ready for your personal touch. With a little creativity and attention to detail, this condo can be transformed into a warm and inviting home. A wonderful opportunity to make it your own in a convenient and desirable location. Sale subject to court approval.

4. 2025-12-26
   price $149,900
5. 2025-10-20
   listed $159,900 Active

   Show marketing remark (446 chars)

   Charming ranch-style condo in Warren offering great space and potential. This unit features an attached garage, a private courtyard, a basement with a family room, and a comfortable layout ready for your personal touch. With a little creativity and attention to detail, this condo can be transformed into a warm and inviting home. A wonderful opportunity to make it your own in a convenient and desirable location. Sale subject to court approval.

6. 2025-10-20
   listed $159,900 Active 446-char remark

   Show marketing remark (446 chars)

   Charming ranch-style condo in Warren offering great space and potential. This unit features an attached garage, a private courtyard, a basement with a family room, and a comfortable layout ready for your personal touch. With a little creativity and attention to detail, this condo can be transformed into a warm and inviting home. A wonderful opportunity to make it your own in a convenient and desirable location. Sale subject to court approval.

ⓘ 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,802
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$1,584
• − Management: −$1,584
• − HOA: −$2,820
• − Depreciation: −$4,361
• Taxable loss: −$1,942
• Est. tax savings @ 24.0%: +$466
• After-tax cash flow: $859/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: Warren Woods Public Schools
• NCES district ID: 2635220
• Math proficiency: 23% ▼ -9.00%
• Reading proficiency: 40% ▼ -5.00%
• Median HH income: $49,013
• Composite: 27.29/100
• National rank: #7003
• State rank: #336 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): 25,014
• Household income: $68,218
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 632.0

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 (66%)
• Race & ethnicity: White 66% Black 18% Asian 9% Two or more races 6% Hispanic / Latino 1%
• Common ancestry: Romanian 14% Lithuanian 3% Arab 2%
• Foreign-born: 15% · Vietnam, Canada, China
• Languages at home: 80% English-only · Other Indo-European 5% Arabic 4% Russian/Polish/Slavic 4%

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: ▼ -223.26%
• Current HPI: 203.6554
• Rent YoY: ▲ 2.52%
• 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

-6.3% since first listed

6 events — show timeline

• 2026-01-29 Pending — MiRealSource-MiMLS
• 2026-01-29 Pending — REALCOMP
• 2025-12-27 Price Changed $149,900 MiRealSource-MiMLS
• 2025-12-26 Price Changed $149,900 REALCOMP
• 2025-10-20 Listed $159,900 REALCOMP
• 2025-10-20 Listed $159,900 MiRealSource-MiMLS