35226 Tall Oaks Dr · Sterling Heights, MI 48312

$138,000

2 bd · 1.0 ba · 800 sqft · Condo · 12 Days on market

Built 1973 Fair condition $261/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 +13.0/30.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• DSCR +3.9/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

DON'T MAKE A MOVE WITHOUT seeing this well-maintained Sterling Woods condo offering immediate occupancy and low-maintenance living in a fantastic location! This charming 2-bedroom, 1-bath colonial features a functional layout filled with natural light throughout. The spacious living room flows seamlessly into the dining area and kitchen, creating an open and comfortable space ideal for everyday living and entertaining. The kitchen offers beautiful oak cabinets, all appliances- disposal, dishwasher, refrigerator, microwave and gas range. A convenient breakfast bar for additional seating and workspace. Fresh carpeting and updated flooring add to the clean, move-in-ready feel. Upstairs you'll find two generously sized bedrooms with ample step-in closet space (primary has 2 closets) large windows and both have ceiling fans. Bedrooms share a full bathroom with exhaust fan, ceramic floor and easy care tub/shower combo. The basement provides large laundry space, washer & gas dryer included and excellent storage space to help keep your new home organized. Updates include: Roof within last 10 years, Furnace with humidifier/Air conditioning replaced in 2023, Hot water heater replaced in 2020, updated windows and electrical. Conveniently located near shopping, dining, entertainment, major freeways, parks, schools, and more, with walking distance to the movie theater. HOA includes snow removal, maintenance grounds, sewer, trash, and water. 1 assigned parking space. Great courtyard space and lots of parking. Excellent opportunity for comfortable and carefree condo living! Warren Consolidated schools. Please exclude primary bedroom curtains.

Key facts

• Open space
• Oak cabinets
• Natural light

Tags

• FUNCTIONAL LAYOUT
• NATURAL LIGHT
• OPEN SPACE
• OAK CABINETS
• BREAKFAST BAR
• FRESH CARPETING

Property features AI

Finance

• Other: Property listed within Sterling Woods Condo subdivision
• HOA & community: Homeowners association with monthly fee; Association fee covers snow removal, trash, and water; Association maintains grounds; Monthly association fee approximately $261; Community sidewalks

Exterior

• Parking: No garage; Assigned parking
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Circuit breaker electrical; Cable available
• Home design: Residential condominium; Two levels; Ground-level entry with steps; Brick construction; Asphalt roof; Block foundation; Above-grade finished area ~800
• Construction: Brick construction; Asphalt roof; Block foundation; Unfinished basement
• Exterior features: Awning(s); Private entrance; Paved road access

Interior

• Kitchen: Dishwasher; Microwave; Free-standing gas range; Free-standing refrigerator
• Bedrooms: Total rooms: 6; Basement present (unfinished)
• Bathrooms: 1 full bathroom
• Interior features: High-speed internet; Unfurnished; Smoke detector(s)
• Laundry & utility: Washer; Dryer; Gas water heater; Humidifier

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $138k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-8 ($-95/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (0.8% below list).
• Meets the 1% rule at list price ($2k rent vs $138k).
• Recommended offer: $137k (0.8% below list) — sets the bar for cash-flow.
• Cap rate 6.2% vs local median 3.8% in Sterling Heights — 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 74/100 on livability (#173 in MI, #4,545 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety D+, amenities F.
• Warren Consolidated Schools (urban): math 18% / reading 39% proficiency, ranked #373 of 540 in MI (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Willow Woods Elementary School (math 17% / reading 27%, grade F, #1,035 of 1,397 statewide, top 77%, 328 students, 81% FRL); Carleton Middle School (math 15% / reading 37%, grade F, #383 of 493 statewide, top 78%, 659 students, 76% FRL); Sterling Heights Senior Hs (math 17% / reading 47%, grade F, #405 of 713 statewide, top 59%, 1,389 students, 76% FRL) — zoned schools average 78% FRL vs 48% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 163 active listings in the ZIP; 6 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 $954 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

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Recommended offer $136,855 (0.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
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 1973 — 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. 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.
9. 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.
10. 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: 1.11% ✓
• Cap rate: 6.22%
• Cash-on-cash: -0.25%
• DSCR: 0.99
• GRM: 7.5

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: -16.5%
• Equity multiple: 0.41×
• Total profit: $-22,683
• Equity at exit: $20,576

10-year hold

• IRR: -8.0%
• Equity multiple: 0.49×
• Total profit: $-19,655
• Equity at exit: $11,932

Cash invested: $38,640 (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 48312

• Active inventory: 163
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,528 high
• Mortgage (P&I): −$724
• Tax est. 1.5%: −$172 /mo · $2,070/yr
• Insurance: −$58
• HOA: −$261
• Vacancy / Maint / Mgmt: −$321
• Net cashflow: $-8

Break-even live

Break-even rent $1,538

Max offer price $136,855

Occupancy floor 96%

Sensitivity live

Price	-10% $87	-5% $40	+0% $-8	+5% $-56	+10% $-103
Rent	-10% $-129	-5% $-68	+0% $-8	+5% $52	+10% $113
Rate	-1.0pp $62	-0.5pp $27	base $-8	+0.5pp $-44	+1.0pp $-80

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: $34,500
• Closing costs: $4,140
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8600 Beech Dr Sterling Heights, MI	1.0–2.0	1.0	900	$1,319	$1.47	0d	6	0.21mi
8484 Brougham Dr Sterling Heights, MI	1.0–3.0	1.0–2.0	885	$2,000	$2.26	0d	23	0.24mi
34911 Van Dyke Ave Sterling Heights, MI	1.0	1.0–2.0	800	$1,300	$1.62	45d	1	0.42mi
8100 Denwood Dr Sterling Heights, MI	1.0	1.0	525	$1,000	$1.90	16d	1	0.88mi
11221 14 Mile Rd Sterling Heights, MI	1.0–2.0	1.0–2.0	818	$1,550	$1.89	4d	6	1.13mi
37933 Durham Dr Sterling Heights, MI	1.0	1.0	600	$785	$1.31	23d	1	1.37mi

HOA detail condo

• Monthly dues: $261 · $3,132/yr
• Likely covers: watersewertrashgaselectriclandscapingsnow removalparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-06-15
   statusdays on market $138,000 Pending 12 DOM
2. 2026-06-13
   days on market $138,000 Active 11 DOM
3. 2026-06-09
   days on market $138,000 Active 7 DOM
4. 2026-06-08
   days on market $138,000 Active 6 DOM
5. 2026-06-07
   days on market $138,000 Active 5 DOM
6. 2026-06-04
   days on market $138,000 Active 2 DOM
7. 2026-06-02
   remarks 693-char remark

   Show marketing remark (1661 chars)

   DON'T MAKE A MOVE WITHOUT seeing this well-maintained Sterling Woods condo offering immediate occupancy and low-maintenance living in a fantastic location! This charming 2-bedroom, 1-bath colonial features a functional layout filled with natural light throughout. The spacious living room flows seamlessly into the dining area and kitchen, creating an open and comfortable space ideal for everyday living and entertaining. The kitchen offers beautiful oak cabinets, all appliances- disposal, dishwasher, refrigerator, microwave and gas range. A convenient breakfast bar for additional seating and workspace. Fresh carpeting and updated flooring add to the clean, move-in-ready feel. Upstairs you'll find two generously sized bedrooms with ample step-in closet space (primary has 2 closets) large windows and both have ceiling fans. Bedrooms share a full bathroom with exhaust fan, ceramic floor and easy care tub/shower combo. The basement provides large laundry space, washer & gas dryer included and excellent storage space to help keep your new home organized. Updates include: Roof within last 10 years, Furnace with humidifier/Air conditioning replaced in 2023, Hot water heater replaced in 2020, updated windows and electrical. Conveniently located near shopping, dining, entertainment, major freeways, parks, schools, and more, with walking distance to the movie theater. HOA includes snow removal, maintenance grounds, sewer, trash, and water. 1 assigned parking space. Great courtyard space and lots of parking. Excellent opportunity for comfortable and carefree condo living! Warren Consolidated schools. Please exclude primary bedroom curtains.

8. 2026-06-02
   listed $138,000 Active 1 DOM

   Show marketing remark (1661 chars)

   DON'T MAKE A MOVE WITHOUT seeing this well-maintained Sterling Woods condo offering immediate occupancy and low-maintenance living in a fantastic location! This charming 2-bedroom, 1-bath colonial features a functional layout filled with natural light throughout. The spacious living room flows seamlessly into the dining area and kitchen, creating an open and comfortable space ideal for everyday living and entertaining. The kitchen offers beautiful oak cabinets, all appliances- disposal, dishwasher, refrigerator, microwave and gas range. A convenient breakfast bar for additional seating and workspace. Fresh carpeting and updated flooring add to the clean, move-in-ready feel. Upstairs you'll find two generously sized bedrooms with ample step-in closet space (primary has 2 closets) large windows and both have ceiling fans. Bedrooms share a full bathroom with exhaust fan, ceramic floor and easy care tub/shower combo. The basement provides large laundry space, washer & gas dryer included and excellent storage space to help keep your new home organized. Updates include: Roof within last 10 years, Furnace with humidifier/Air conditioning replaced in 2023, Hot water heater replaced in 2020, updated windows and electrical. Conveniently located near shopping, dining, entertainment, major freeways, parks, schools, and more, with walking distance to the movie theater. HOA includes snow removal, maintenance grounds, sewer, trash, and water. 1 assigned parking space. Great courtyard space and lots of parking. Excellent opportunity for comfortable and carefree condo living! Warren Consolidated schools. Please exclude primary bedroom curtains.

ⓘ 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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,331
• − Mortgage interest: −$7,730
• − Property taxes: −$2,070
• − Insurance: −$690
• − Repairs & maintenance: −$1,466
• − Management: −$1,466
• − HOA: −$3,132
• − Depreciation: −$4,015
• Taxable loss: −$2,239
• Est. tax savings @ 24.0%: +$537
• After-tax cash flow: $442/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 · 12 photos

Fair 45/100 Moderate rehab

This Sterling Woods condo requires moderate repairs and maintenance to improve its condition and value. Key areas for improvement include painting, replacing worn cabinets and siding, and updating the landscaping.

Repairs flagged

• Moderate Kitchen cabinets — Worn appearance
• Moderate Paint — Faded in some areas
• Moderate Exterior siding — Weathered appearance

Value-add opportunities

• Resale Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Resale Replace worn kitchen cabinets — New cabinets improve functionality and appearance
• Resale Replace worn exterior siding — Fresh siding enhances curb appeal and property value
• Both Landscaping — Fresh landscaping improves curb appeal and enhances property value

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · Worn appearance	Moderate	$3,000–15,000
Paint · Faded in some areas	Moderate	$3,000–15,000
Exterior siding · Weathered appearance	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$9,000–45,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Resale Replace worn kitchen cabinets — New cabinets improve functionality and appearance ↑
• Resale Replace worn exterior siding — Fresh siding enhances curb appeal and property value ↑
• Both Landscaping — Fresh landscaping improves curb appeal and enhances property 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: Warren Consolidated Schools
• NCES district ID: 2635190
• Math proficiency: 18% ▼ -14.00%
• Reading proficiency: 39% ▼ -8.00%
• Median HH income: $52,259
• Composite: 25.09/100
• National rank: #7533
• State rank: #373 of 540 in MI

Livability — Sterling Heights

• Score: 74/100
• State rank: #173
• US rank: #4545

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sterling Heights, MI
• County: Macomb County · 638,552 people
• City population: 133,573
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 34,401
• Household income: $68,061
• Rent vs Own: 25.4% rent · 74.6% own
• Severe rent burden: 910.0

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 (75%)
• Race & ethnicity: White 75% Black 9% Asian 9% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Romanian 14% Arab 3% Lithuanian 2%
• Foreign-born: 25% · Canada, China, Vietnam
• Languages at home: 66% English-only · Other Indo-European 8% Arabic 8% Russian/Polish/Slavic 3%

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: ▼ -279.41%
• Current HPI: 203.3039
• 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

+0.0% since first listed

2 events — show timeline

• 2026-06-02 Listed $138,000 REALCOMP
• 2026-06-02 Listed $138,000 MiRealSource-MiMLS