38029 Versailles St · Clinton, MI 48038

$38,900

2 bd · 2.0 ba · 960 sqft · SingleFamily · 90 Days on market

Built 2023 Fair condition $41/sqft · 34% below area Est $59k · 34% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +4.0/10.0
• Livability +3.5/5.0
• Rent growth +2.3/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Key facts

• Built 2023
• Listed 89 days

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $39k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $760 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $39k).
• Recommended offer: $37k (6.0% below list) — sets the bar for market timing.
• Cap rate 29.7% vs local median 3.2% in Clinton — 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 70/100 on livability (#315 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Chippewa Valley Schools (suburban): math 39% / reading 50% proficiency, ranked #133 of 540 in MI (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.9%/yr); 259 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 27d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $269 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($37k) is reasonable based on typical stale-listing flexibility.

Recommended offer $36,566 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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: 3.35% ✓
• Cap rate: 29.74%
• Cash-on-cash: 83.75%
• DSCR: 4.73
• GRM: 2.5

CMA / ARV

• ARV (median comp): $59,354
• List price: $38,900
• Delta: -34.46%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
15995 Villaire Ave	0.35mi	2/2.0	1,000 (+4%)	1mo	$35,000	$35	76
38568 Capetown Ct	0.54mi	2/1.5	960 (0%)	1mo	$177,000	$184	72
38736 Barnstable Ln #92	0.58mi	2/1.5	960 (0%)	2mo	$164,000	$171	69
38718 Barnstable Ln	0.64mi	2/1.5	960 (0%)	0mo	$165,000	$172	68
38969 Golfview Dr W	0.80mi	2/1.5	966 (+1%)	1mo	$172,000	$178	61
38924 E Windmill Pointe Dr	0.72mi	2/1.0	940 (-2%)	0mo	$195,000	$207	59
38726 Golfview Dr #23	0.75mi	2/1.5	1,000 (+4%)	0mo	$185,000	$185	56
38951 E Golfview Dr	0.77mi	2/1.5	1,000 (+4%)	1mo	$170,000	$170	56
15376 Enchante Dr	0.54mi	3/2.0 (+1)	1,056 (+10%)	0mo	$56,000	$53	53
38984 Golfview Dr	0.79mi	2/1.0	1,000 (+4%)	2mo	$168,000	$168	52
14140 Merriweather St	1.49mi	2/2.0	884 (-8%)	1mo	$118,000	$133	51
17116 Kingsbrooke Dr	1.33mi	1/1.0 (-1)	1,116 (+16%)	2mo	$105,000	$94	29

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 80.7%
• Equity multiple: 4.52×
• Total profit: $38,315
• Equity at exit: $5,800

10-year hold

• IRR: 83.4%
• Equity multiple: 8.44×
• Total profit: $81,034
• Equity at exit: $3,363

Cash invested: $10,892 (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 →

Buyer's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 32 active
• Months of supply: 192.0 mo (1%/mo absorbed)
• Median asking: $56,900 ($56/sqft)
• Median days on market: 109 d
• This list price: 12% of active listings are priced below it
• ARV vs active asking: +10.9% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 48038

• Rents YoY: -0.9%
• Active inventory: 259
• Price-to-rent: 2.5×

Monthly cashflow live

• Estimated rent: $1,303 high
• Mortgage (P&I): −$204
• Tax est. 1.5%: −$49 /mo · $584/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $760

Break-even live

Break-even rent $340

Max offer price $38,900

Occupancy floor 37%

Sensitivity live

Price	-10% $787	-5% $774	+0% $760	+5% $747	+10% $733
Rent	-10% $657	-5% $709	+0% $760	+5% $812	+10% $863
Rate	-1.0pp $780	-0.5pp $770	base $760	+0.5pp $750	+1.0pp $740

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: $9,725
• Closing costs: $1,167
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
38029 Versailles St Unit 49 Clinton Township, MI	2.0	2.0	960	$1,229	$1.28	26d	1	0.01mi
16218 Frontenac Ave Unit 162 Clinton Township, MI	3.0	2.0	1056	$1,399	$1.32	14d	1	0.06mi
16208 Notre Dame St Unit 213 Clinton Township, MI	3.0	2.0	1056	$1,549	$1.47	0d	1	0.07mi
16196 Notre Dame St Unit 210 Clinton Township, MI	3.0	2.0	1056	$1,449	$1.37	41d	1	0.08mi
16172 Frontenac Ave Unit 147 Clinton Twp, MI	3.0	2.0	1056	$1,399	$1.32	26d	1	0.10mi
16158 Frontenac Ave Unit 144 Clinton Township, MI	3.0	2.0	1056	$1,399	$1.32	8d	1	0.12mi
16161 Normandy St Unit 92 Clinton Township, MI	2.0	2.0	960	$1,229	$1.28	0d	1	0.13mi
16142 Normandy St Unit 249 Clinton Township, MI	2.0	2.0	960	$1,229	$1.28	26d	1	0.14mi
16152 Notre Dame St Unit 199 Clinton Township, MI	2.0	2.0	960	$1,249	$1.30	41d	1	0.15mi
16151 Notre Dame St Unit 245 Clinton Township, MI	2.0	2.0	960	$1,229	$1.28	15d	1	0.15mi
16137 Normandy St Unit 98 Clinton Township, MI	2.0	2.0	1056	$1,229	$1.16	17d	1	0.16mi
38105 Orleans St Unit 114 Clinton Township, MI	2.0	2.0	960	$1,219	$1.27	0d	1	0.17mi
38053 Orleans St Unit 124 Clinton Township, MI	2.0	2.0	960	$1,249	$1.30	41d	1	0.17mi
38017 Le Chateau Blvd Unit 285 Clinton Township, MI	2.0	2.0	960	$1,229	$1.28	0d	1	0.25mi
16035 Villaire Ave Unit 688 Clinton Township, MI	2.0	2.0	960	$1,399	$1.46	93d	1	0.27mi
38013 Chilver Ave Unit 381 Clinton Township, MI	2.0	2.0	960	$1,399	$1.46	93d	1	0.29mi
16016 Villaire Ave Unit 402 Clinton Township, MI	2.0	2.0	960	$1,249	$1.30	41d	1	0.31mi
16011 Villaire Ave Unit 682 Clinton Township, MI	2.0	2.0	960	$1,229	$1.28	26d	1	0.31mi
38060 Leverette Ave Unit 435 Clinton Township, MI	3.0	2.0	1056	$1,399	$1.32	14d	1	0.33mi
38055 Leverette Ave Unit 491 Clinton Township, MI	2.0	2.0	960	$1,229	$1.28	26d	1	0.35mi
38019 Leverette Ave Unit 500 Clinton Township, MI	2.0	2.0	960	$1,229	$1.28	26d	1	0.37mi
15974 Villaire Ave Unit 445 Clinton Township, MI	2.0	1.0	768	$1,199	$1.56	26d	1	0.38mi
15929 Villaire Ave Unit 668 Clinton Twp, MI	3.0	2.0	1056	$1,399	$1.32	21d	1	0.39mi
15836 Croatia Dr Unit 544 Clinton Township, MI	2.0	1.0	840	$1,349	$1.61	93d	1	0.39mi
15868 Marentette Dr Unit 339 Clinton Township, MI	2.0	2.0	960	$1,229	$1.28	26d	1	0.39mi
38099 Johannes Dr Unit 550 Clinton Township, MI	3.0	2.0	924	$1,399	$1.51	0d	1	0.40mi
38271 Fairway Ct Unit 100A Clinton Township, MI	2.0	1.0	925	$1,250	$1.35	73d	1	0.40mi
38271 Fairway Ct Clinton Township, MI	2.0	1.0	925	$1,188	$1.28	93d	2	0.40mi
15881 Villaire Ave Unit 658 Clinton Township, MI	2.0	2.0	960	$1,229	$1.28	26d	1	0.40mi
15962 Villaire Ave Unit 448 Clinton Township, MI	2.0	2.0	960	$1,229	$1.28	14d	1	0.41mi
15856 Marentette Dr Unit 336 Clinton Township, MI	2.0	2.0	960	$1,229	$1.28	26d	1	0.42mi
15882 Villaire Ave Unit 455 Clinton Township, MI	2.0	2.0	960	$1,229	$1.28	0d	1	0.42mi
38100 Ducharme Dr Unit 476 Clinton Township, MI	3.0	2.0	1056	$1,399	$1.32	26d	1	0.43mi
38280 Fairway Ct Unit 140B Clinton Township, MI	2.0	1.0	1000	$1,150	$1.15	93d	1	0.43mi
38056 Johannes Dr Unit 524 Clinton Township, MI	3.0	2.0	1056	$1,399	$1.32	26d	1	0.43mi
38272 Fairway Ct Unit 123A Clinton Township, MI	1.0	1.0	700	$900	$1.29	21d	1	0.43mi
38272 Fairway Ct Unit 123A Clinton Township, MI	1.0	1.0	800	$900	$1.12	25d	1	0.43mi
15811 Villaire Ave Unit 643 Clinton Township, MI	2.0	2.0	960	$1,399	$1.46	93d	1	0.44mi
38290 Fairway Ct Clinton Township, MI	1.0	1.0	625	$962	$1.54	42d	2	0.44mi
15835 Marentette Dr Unit 512 Clinton Township, MI	2.0	2.0	960	$1,399	$1.46	93d	1	0.44mi

Property features AI

Finance

• Financial info: List price $54,900

Exterior

• Home design: Single section, 2 bed 2 bath planSpec new construction inventory
• Construction: Living area approximately 960Built as single-section home

Interior

• Kitchen: Includes dishwasher, disposal, and refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 2 bathrooms
• Interior features: DishwasherDisposalRefrigerator

Listing history 45 events

1. 2026-08-08
   days on market $38,900 Active 90 DOM
2. 2026-08-06
   days on market $38,900 Active 88 DOM
3. 2026-08-05
   days on market $38,900 Active 87 DOM
4. 2026-08-04
   days on market $38,900 Active 86 DOM
5. 2026-08-03
   days on market $38,900 Active 85 DOM
6. 2026-07-31
   days on market $38,900 Active 82 DOM
7. 2026-07-30
   days on market $38,900 Active 80 DOM
8. 2026-07-28
   days on market $38,900 Active 79 DOM
9. 2026-07-26
   days on market $38,900 Active 77 DOM
10. 2026-07-24
    days on market $38,900 Active 75 DOM
11. 2026-07-23
    days on market $38,900 Active 74 DOM
12. 2026-07-22
    days on market $38,900 Active 73 DOM
13. 2026-07-21
    days on market $38,900 Active 72 DOM
14. 2026-07-20
    days on market $38,900 Active 71 DOM
15. 2026-07-18
    days on market $38,900 Active 69 DOM
16. 2026-07-18
    days on market $38,900 Active 68 DOM
17. 2026-07-16
    days on market $38,900 Active 67 DOM
18. 2026-07-15
    days on market $38,900 Active 66 DOM
19. 2026-07-14
    days on market $38,900 Active 65 DOM
20. 2026-07-13
    days on market $38,900 Active 64 DOM
21. 2026-07-13
    days on market $38,900 Active 63 DOM
22. 2026-07-11
    days on market $38,900 Active 62 DOM
23. 2026-07-10
    days on market $38,900 Active 61 DOM
24. 2026-07-09
    pricedays on market $38,900 Active 60 DOM
25. 2026-07-07
    days on market $48,900 Active 58 DOM
26. 2026-07-06
    days on market $48,900 Active 57 DOM
27. 2026-07-06
    days on market $48,900 Active 56 DOM
28. 2026-07-05
    days on market $48,900 Active 55 DOM
29. 2026-07-03
    days on market $48,900 Active 54 DOM
30. 2026-07-02
    days on market $48,900 Active 53 DOM
31. 2026-07-01
    days on market $48,900 Active 52 DOM
32. 2026-06-30
    days on market $48,900 Active 51 DOM
33. 2026-06-29
    days on market $48,900 Active 50 DOM
34. 2026-06-28
    days on market $48,900 Active 49 DOM
35. 2026-06-27
    pricedays on market $48,900 Active 48 DOM
36. 2026-06-26
    days on market $54,900 Active 47 DOM
37. 2026-06-24
    days on market $54,900 Active 45 DOM
38. 2026-06-22
    days on market $54,900 Active 43 DOM
39. 2026-06-21
    days on market $54,900 Active 42 DOM
40. 2026-06-18
    days on market $54,900 Active 39 DOM
41. 2026-06-17
    days on market $54,900 Active 38 DOM
42. 2026-06-16
    days on market $54,900 Active 37 DOM
43. 2026-06-15
    days on market $54,900 Active 36 DOM
44. 2026-06-13
    days on market $54,900 Active 34 DOM
45. 2026-06-13
    listed $54,900 Active 33 DOM

ⓘ 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: $15,630
• − Mortgage interest: −$2,179
• − Property taxes: −$584
• − Insurance: −$194
• − Repairs & maintenance: −$1,250
• − Management: −$1,250
• − Depreciation: −$1,132
• Taxable income: $9,041
• Est. tax owed @ 24.0%: −$2,170
• After-tax cash flow: $6,952/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

Fair 45/100 Cosmetic rehab Est. rehab $4,800–$14,400 screening

The home appears to be in fair condition with potential for cosmetic updates to increase its value. Further investigation is needed to assess the condition of the interior and exterior.

Components & finishes AI

Roof asphalt shingle · good Flooring hardwood

Value-add opportunities

• Both Painting the interior walls and ceiling — Fresh paint can make a significant difference in the home's appearance and value ↑
• Both Updating the flooring — New flooring can improve the home's appeal and increase its value ↑
• Both Updating the kitchen and bathrooms — Modernizing the kitchen and bathrooms can significantly boost the home's value and appeal ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

Schools (NCES district)

• District: Chippewa Valley Schools
• NCES district ID: 2609570
• Math proficiency: 39% ▼ -10.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $64,964
• Composite: 39.61/100
• National rank: #3922
• State rank: #133 of 540 in MI

B Composite livability gradescore 70/100

Livability — Clinton

• Score: 70/100
• State rank: #315
• US rank: #7703

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Macomb County · 925,296 people
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 44,422
• Household income: $78,567
• Rent vs Own: 37.7% rent · 62.3% own
• Severe rent burden: 10% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Black 11% Two or more races 7% Asian 3% Hispanic / Latino 2%
• Common ancestry: Romanian 16% Lithuanian 3% Iranian 2%
• Foreign-born: 11% · Canada, Vietnam
• Languages at home: 86% English-only · Other Indo-European 5% Russian/Polish/Slavic 2% Arabic 2%

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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: ▼ -212.31%
• Current HPI: 261.3877
• Rent YoY: ▼ -0.92%
• Metro: Detroit-Warren-Dearborn, MI
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

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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

Property features AI

Finance

• Financial info: List price $54,900

Exterior

• Home design: Single section, 2 bed 2 bath planSpec new construction inventory
• Construction: Living area approximately 960Built as single-section home

Interior

• Kitchen: Includes dishwasher, disposal, and refrigerator
• Bedrooms: 2 bedrooms
• Bathrooms: 2 bathrooms
• Interior features: DishwasherDisposalRefrigerator