22995 Gary Ln · St. Clair Shores, MI 48080

$120,000

2 bd · 1.0 ba · 743 sqft · Condo · 36 Days on market

Built 1948 Fair condition $244/mo HOA · 17% 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 +15.2/30.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• DSCR +4.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy low-maintenance living from this second-floor 2-bedroom, 1-bath condo in the Lakeshore Village community. Known for its quaint feel and strong sense of community, Lakeshore Village sits in one of St. Clair Shores’ most popular locations along Lake St. Clair. Just minutes from the Nautical Mile, marinas, waterfront dining, and lakefront parks, this home offers ample resident and guest parking, everyday convenience, and access to the South Lake School District—all in a setting that balances comfort with connection.

Key facts

• Waterfront dining
• Lakefront parks
• $244 HOA

Tags

• LAKESHORE VILLAGE COMMUNITY
• WATERFRONT DINING
• LAKEFRONT PARKS
• AMPLE RESIDENT PARKING

Property features AI

Finance

• Other: Pets allowed (contact for details)
• HOA & community: Homeowners association with monthly fee of $244; HOA amenities include clubhouse, pool; fee covers grounds and structure maintenance, sewer, water and snow removal

Exterior

• Parking: Assigned and unassigned parking
• Utilities: Public water; Public sewer
• Home design: Condominium (residential); One-level
• Construction: Brick construction; Block foundation; Built with a shingle roof
• Exterior features: Community pool; Clubhouse; Sidewalks; Paved road

Interior

• Kitchen: Dishwasher; Oven/Range; Refrigerator
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced-air heating (natural gas); Central air conditioning
• Interior features: High-speed internet; Full basement with block foundation
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $120k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $41 ($488/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.7% vs local median 4.0% in St. Clair Shores — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• South Lake Schools (suburban): math 11% / reading 26% proficiency, ranked #470 of 540 in MI (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Elmwood Elementary School (math 18% / reading 29%, grade F, #1,032 of 1,397 statewide, top 74%, 345 students, 61% FRL); South Lake Middle School (math 7% / reading 23%, grade F, #451 of 493 statewide, top 92%, 299 students, 66% FRL); South Lake High School (math 2% / reading 27%, grade F, #640 of 713 statewide, top 91%, 516 students, 61% FRL).
• Market conditions: 167 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $830 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 36 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 22y 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 $10k; list at $120k implies a 1043% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% 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. Built in 1948 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
9. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
10. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
11. 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.
12. 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.
13. 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: 1.18% ✓
• Cap rate: 6.70%
• Cash-on-cash: 1.45%
• DSCR: 1.06
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -13.8%
• Equity multiple: 0.50×
• Total profit: $-16,684
• Equity at exit: $17,892

10-year hold

• IRR: -4.7%
• Equity multiple: 0.69×
• Total profit: $-10,498
• Equity at exit: $10,375

Cash invested: $33,600 (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 48080

• Active inventory: 167
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,410 medium
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$244
• Vacancy / Maint / Mgmt: −$296
• Net cashflow: $41

Break-even live

Break-even rent $1,359

Max offer price $120,000

Occupancy floor 92%

Sensitivity live

Price	-10% $124	-5% $82	+0% $41	+5% $-1	+10% $-42
Rent	-10% $-71	-5% $-15	+0% $41	+5% $96	+10% $152
Rate	-1.0pp $101	-0.5pp $71	base $41	+0.5pp $10	+1.0pp $-22

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24901 Jefferson Ave Unit 210 St Clair Shores, MI	2.0	1.0	700	$1,250	$1.79	1d	1	1.31mi
22843 Grove St #47 Saint Clair Shores, MI	1.0	1.0	700	$1,100	$1.57	21d	1	1.45mi

HOA detail condo

• Monthly dues: $244 · $2,928/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-21
   days on market $120,000 Active 36 DOM
2. 2026-06-18
   days on market $120,000 Active 33 DOM
3. 2026-06-17
   days on market $120,000 Active 32 DOM
4. 2026-06-16
   days on market $120,000 Active 31 DOM
5. 2026-06-15
   days on market $120,000 Active 30 DOM
6. 2026-06-13
   days on market $120,000 Active 28 DOM
7. 2026-06-13
   days on market $120,000 Active 27 DOM
8. 2026-06-09
   days on market $120,000 Active 24 DOM
9. 2026-06-08
   days on market $120,000 Active 23 DOM
10. 2026-06-07
    days on market $120,000 Active 22 DOM
11. 2026-06-04
    days on market $120,000 Active 19 DOM
12. 2026-06-03
    days on market $120,000 Active 18 DOM
13. 2026-06-02
    days on market $120,000 Active 17 DOM
14. 2026-06-01
    days on market $120,000 Active 16 DOM
15. 2026-05-31
    days on market $120,000 Active 15 DOM
16. 2026-05-16
    listed $120,000 Active

    Show marketing remark (536 chars)

    Enjoy low-maintenance living from this second-floor 2-bedroom, 1-bath condo in the Lakeshore Village community. Known for its quaint feel and strong sense of community, Lakeshore Village sits in one of St. Clair Shores’ most popular locations along Lake St. Clair. Just minutes from the Nautical Mile, marinas, waterfront dining, and lakefront parks, this home offers ample resident and guest parking, everyday convenience, and access to the South Lake School District—all in a setting that balances comfort with connection.

17. 2026-05-16
    listed $120,000 Active 536-char remark

    Show marketing remark (536 chars)

    Enjoy low-maintenance living from this second-floor 2-bedroom, 1-bath condo in the Lakeshore Village community. Known for its quaint feel and strong sense of community, Lakeshore Village sits in one of St. Clair Shores’ most popular locations along Lake St. Clair. Just minutes from the Nautical Mile, marinas, waterfront dining, and lakefront parks, this home offers ample resident and guest parking, everyday convenience, and access to the South Lake School District—all in a setting that balances comfort with connection.

18. 2010-03-03
    soldstatus $10,500 158-char remark

    Show marketing remark (158 chars)

    Subject to short sale approval. Newer windows, furnace, air conditioning and hot water tank. Hardwood floors. Storage/laundry in basement. Pool and clubhouse.

19. 2010-03-03
    soldstatus $10,500

    Show marketing remark (158 chars)

    Subject to short sale approval. Newer windows, furnace, air conditioning and hot water tank. Hardwood floors. Storage/laundry in basement. Pool and clubhouse.

20. 2010-02-12
    historical 158-char remark

    Show marketing remark (158 chars)

    Subject to short sale approval. Newer windows, furnace, air conditioning and hot water tank. Hardwood floors. Storage/laundry in basement. Pool and clubhouse.

21. 2009-09-22
    listed $19,000 158-char remark

    Show marketing remark (158 chars)

    Subject to short sale approval. Newer windows, furnace, air conditioning and hot water tank. Hardwood floors. Storage/laundry in basement. Pool and clubhouse.

22. 2009-09-22
    listed $19,000

    Show marketing remark (158 chars)

    Subject to short sale approval. Newer windows, furnace, air conditioning and hot water tank. Hardwood floors. Storage/laundry in basement. Pool and clubhouse.

23. 2004-09-22
    soldstatus $65,000
24. 2004-07-23
    historical
25. 2004-05-12
    listed $71,900

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 67% 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: $16,921
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$1,354
• − Management: −$1,354
• − HOA: −$2,928
• − Depreciation: −$3,491
• Taxable loss: −$1,327
• Est. tax savings @ 24.0%: +$319
• After-tax cash flow: $806/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 · 8 photos

Fair 45/100 Moderate rehab

This two-bedroom condo requires moderate renovations to its kitchen and bathroom, as well as flooring replacement, to improve its condition and value.

Repairs flagged

• Major kitchen cabinets — poor condition
• Major kitchen countertops — poor condition
• Major bathroom fixtures — dated and small
• Major flooring — carpeted bedrooms, worn hardwood

Value-add opportunities

• Both kitchen renovation — modernizing the kitchen would increase both resale and rental value
• Both bathroom renovation — updating the bathroom would increase both resale and rental value
• Both flooring replacement — replacing worn flooring with hardwood or tile would increase both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · poor condition	Major	$15,000–50,000
kitchen countertops · poor condition	Major	$15,000–50,000
bathroom fixtures · dated and small	Major	$15,000–50,000
flooring · carpeted bedrooms, worn hardwood	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Both kitchen renovation — modernizing the kitchen would increase both resale and rental value ↑
• Both bathroom renovation — updating the bathroom would increase both resale and rental value ↑
• Both flooring replacement — replacing worn flooring with hardwood or tile would increase both resale and rental value ↑

ⓘ 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: South Lake Schools
• NCES district ID: 2632220
• Math proficiency: 11% ▼ -10.00%
• Reading proficiency: 26% ▼ -12.00%
• Median HH income: $51,594
• Composite: 16.76/100
• National rank: #9159
• State rank: #470 of 540 in MI

Livability — St. Clair Shores

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. Clair Shores, MI
• County: Macomb County · 638,552 people
• City population: 58,217
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 21,561
• Household income: $66,986
• Rent vs Own: 21.5% rent · 78.5% own
• Severe rent burden: 530.0

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 (83%)
• Race & ethnicity: White 83% Black 8% Two or more races 6% Hispanic / Latino 4% Asian 2%
• Common ancestry: Romanian 14% Lithuanian 5% Slovak 2%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 92% English-only · Other Indo-European 3% Spanish 2% Russian/Polish/Slavic 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: ▼ -236.99%
• Current HPI: 231.507
• Rent YoY: —
• 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

+66.9% since first listed

10 events — show timeline

• 2026-05-16 Listed $120,000 MiRealSource-MiMLS
• 2026-05-16 Listed $120,000 REALCOMP
• 2010-03-03 Sold (MLS) $10,500 REALCOMP
• 2010-03-03 Sold (MLS) $10,500 MiRealSource-MiMLS
• 2010-02-12 Listing Removed — MiRealSource-MiMLS
• 2009-09-22 Listed $19,000 REALCOMP
• 2009-09-22 Listed $19,000 MiRealSource-MiMLS
• 2004-09-22 Sold (MLS) $65,000 MiRealSource-MiMLS
• 2004-07-23 Listing Removed — MiRealSource-MiMLS
• 2004-05-12 Listed $71,900 MiRealSource-MiMLS