47616 Pembroke Dr #97 · Belleville, MI 48188

$235,000

2 bd · 2.0 ba · 1,385 sqft · Condo public records · 7 Days on market

Built 2004 $295/mo HOA · 15% of rent

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +6.6/30.0
• Livability +3.8/5.0
• 1% rule +3.5/10.0
• Schools +3.3/10.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• DSCR +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to the Woodlands of Chatterton Village! This end-unit, upper-level ranch condo features a vaulted living room, abundant natural light, and an open-concept kitchen with SS appliances, a quartz peninsula, and pendant lights (bar stools stay). The dining area opens to the Trex balcony - perfect for morning coffee. The primary suite includes a vaulted ceiling, a walk-in closet, and an ensuite bathroom. The second bedroom, updated full bathroom, and in-unit laundry complete the main living space. The 1.5-car garage has plenty of additional storage space. The living room windows were replaced 3 years ago. Other major updates include a 2022 furnace and AC, and a 2023 water heater. Close to shopping, dining, and more! Schedule your showing today!

Key facts

• $295 HOA
• Garage
• Community pool

Property features AI

Finance

• Other: Pets: contact association
• HOA & community: Homeowners association with monthly fee; Association fee: $295 monthly; Association covers grounds and structure maintenance, sewer, water, trash, and snow removal; Community amenities include pool, clubhouse, and sidewalks; Grounds maintenance provided

Exterior

• Parking: Attached garage with direct access; Garage door opener; Garage faces side; Approximately 1.5 garage spaces
• Utilities: Public water; Public sewer; Electric with circuit breakers; Cable available; Underground utilities
• Home design: Condominium; Residential property; One-level; Ground-level entry; Facing direction not specified
• Construction: Brick and vinyl siding; Asphalt roof; Slab foundation; Built year not specified
• Exterior features: Balcony; Private entrance; Exterior lighting; Covered porch

Interior

• Kitchen: Dishwasher; Disposal; Free-standing electric range; Microwave; Free-standing refrigerator; Gas water heater
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Ceiling fans; Forced-air heating; Natural gas heating
• Interior features: High-speed internet available; Smart thermostat
• Laundry & utility: In-unit laundry (washer and dryer included); Dryer; Washer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $235k.

Deal economics

• At list price, monthly cash flow is $-389 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $166k (29.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (15.3% below list).
• Recommended offer: $166k (29.3% below list) — sets the bar for cash-flow.
• Cap rate 4.3% vs local median 3.4% in Belleville — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 75/100 on livability (#164 in MI, #4,360 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D, employment D, amenities F.
• Van Buren Public Schools (suburban): math 33% / reading 43% proficiency, ranked #228 of 540 in MI (top 42%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents flat; 245 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 11y 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.

Recommended offer $166,260 (29.3% 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. 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.85% ✗
• Cap rate: 4.31%
• Cash-on-cash: -7.10%
• DSCR: 0.68
• GRM: 9.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.46% rent growth · sell at horizon

5-year hold

• IRR: -32.1%
• Equity multiple: -0.03×
• Total profit: $-67,589
• Equity at exit: $35,039

10-year hold

• IRR: -59.9%
• Equity multiple: -0.66×
• Total profit: $-109,158
• Equity at exit: $20,319

Cash invested: $65,800 (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 48188

• Rents YoY: 0.5%
• Active inventory: 245
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,991 high
• Mortgage (P&I): −$1,232
• Tax from tax record: −$337 /mo · $4,044/yr
• Insurance: −$98
• HOA: −$295
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $-389

Break-even live

Break-even rent $2,484

Max offer price $166,260

Occupancy floor —

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: $58,750
• Closing costs: $7,050
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3882 Radcliff Dr Unit 1 Canton, MI	2.0	2.0	1400	$2,000	$1.43	19d	1	0.10mi
48449 Manor Bridge Dr Canton Township, MI	2.0	2.0	1281	$2,150	$1.68	3d	1	0.48mi
47517 Sleeping Bear Blvd Canton Township, MI	2.0	2.0	1205	$2,288	$1.90	1d	4	0.49mi
4753 Grove Ct Canton, MI	2.0	1.5	1182	$1,975	$1.67	43d	1	0.72mi
45464 Elmwood Cir Canton, MI	1.0–3.0	1.0–2.0	1084	$2,034	$1.88	1d	3	1.15mi

HOA detail condo

• Monthly dues: $295 · $3,540/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-05-05
   status Pending 756-char remark

   Show marketing remark (756 chars)

   Welcome to the Woodlands of Chatterton Village! This end-unit, upper-level ranch condo features a vaulted living room, abundant natural light, and an open-concept kitchen with SS appliances, a quartz peninsula, and pendant lights (bar stools stay). The dining area opens to the Trex balcony - perfect for morning coffee. The primary suite includes a vaulted ceiling, a walk-in closet, and an ensuite bathroom. The second bedroom, updated full bathroom, and in-unit laundry complete the main living space. The 1.5-car garage has plenty of additional storage space. The living room windows were replaced 3 years ago. Other major updates include a 2022 furnace and AC, and a 2023 water heater. Close to shopping, dining, and more! Schedule your showing today!

2. 2026-05-05
   status Pending 756-char remark

   Show marketing remark (756 chars)

   Welcome to the Woodlands of Chatterton Village! This end-unit, upper-level ranch condo features a vaulted living room, abundant natural light, and an open-concept kitchen with SS appliances, a quartz peninsula, and pendant lights (bar stools stay). The dining area opens to the Trex balcony - perfect for morning coffee. The primary suite includes a vaulted ceiling, a walk-in closet, and an ensuite bathroom. The second bedroom, updated full bathroom, and in-unit laundry complete the main living space. The 1.5-car garage has plenty of additional storage space. The living room windows were replaced 3 years ago. Other major updates include a 2022 furnace and AC, and a 2023 water heater. Close to shopping, dining, and more! Schedule your showing today!

3. 2026-04-29
   listed $235,000 Active 756-char remark

   Show marketing remark (756 chars)

   Welcome to the Woodlands of Chatterton Village! This end-unit, upper-level ranch condo features a vaulted living room, abundant natural light, and an open-concept kitchen with SS appliances, a quartz peninsula, and pendant lights (bar stools stay). The dining area opens to the Trex balcony - perfect for morning coffee. The primary suite includes a vaulted ceiling, a walk-in closet, and an ensuite bathroom. The second bedroom, updated full bathroom, and in-unit laundry complete the main living space. The 1.5-car garage has plenty of additional storage space. The living room windows were replaced 3 years ago. Other major updates include a 2022 furnace and AC, and a 2023 water heater. Close to shopping, dining, and more! Schedule your showing today!

4. 2026-04-29
   listed $235,000 Active 756-char remark

   Show marketing remark (756 chars)

   Welcome to the Woodlands of Chatterton Village! This end-unit, upper-level ranch condo features a vaulted living room, abundant natural light, and an open-concept kitchen with SS appliances, a quartz peninsula, and pendant lights (bar stools stay). The dining area opens to the Trex balcony - perfect for morning coffee. The primary suite includes a vaulted ceiling, a walk-in closet, and an ensuite bathroom. The second bedroom, updated full bathroom, and in-unit laundry complete the main living space. The 1.5-car garage has plenty of additional storage space. The living room windows were replaced 3 years ago. Other major updates include a 2022 furnace and AC, and a 2023 water heater. Close to shopping, dining, and more! Schedule your showing today!

5. 2026-04-27
   historical $235,000 756-char remark

   Show marketing remark (756 chars)

   Welcome to the Woodlands of Chatterton Village! This end-unit, upper-level ranch condo features a vaulted living room, abundant natural light, and an open-concept kitchen with SS appliances, a quartz peninsula, and pendant lights (bar stools stay). The dining area opens to the Trex balcony - perfect for morning coffee. The primary suite includes a vaulted ceiling, a walk-in closet, and an ensuite bathroom. The second bedroom, updated full bathroom, and in-unit laundry complete the main living space. The 1.5-car garage has plenty of additional storage space. The living room windows were replaced 3 years ago. Other major updates include a 2022 furnace and AC, and a 2023 water heater. Close to shopping, dining, and more! Schedule your showing today!

6. 2022-01-04
   soldstatus $197,500
7. 2021-12-27
   soldstatus $197,500 Sold

   Show marketing remark (876 chars)

   Woodlands of Chatterton Village. Just a great place to live. Pull into your attached garage. This unit is an upper level ranch. Vaulted ceilings in the Living room, loads of sunlight throughout updated kitchen highlighting the one huge piece quartz counter top including the breakfast nook. Pendant lights above. Stainless steel appliances. Walk in pantry. Dinette with door wall to balcony. Head down the hallway to huge master bedroom which includes attached master bath, walk in closet, and vaulted ceilings. A second full bath off hallway supports 2 nd bedroom. Immediate occupancy puts you in as soon as you can. . Association had an outdoor swimming pool and club house (rentable). Pretty close to interstates going in any direction. You can lease out units at Woodlands of Chatterton village but please always do review the bylaws and call management for any details.

8. 2021-12-27
   soldstatus $197,500 Closed

   Show marketing remark (876 chars)

   Woodlands of Chatterton Village. Just a great place to live. Pull into your attached garage. This unit is an upper level ranch. Vaulted ceilings in the Living room, loads of sunlight throughout updated kitchen highlighting the one huge piece quartz counter top including the breakfast nook. Pendant lights above. Stainless steel appliances. Walk in pantry. Dinette with door wall to balcony. Head down the hallway to huge master bedroom which includes attached master bath, walk in closet, and vaulted ceilings. A second full bath off hallway supports 2 nd bedroom. Immediate occupancy puts you in as soon as you can. . Association had an outdoor swimming pool and club house (rentable). Pretty close to interstates going in any direction. You can lease out units at Woodlands of Chatterton village but please always do review the bylaws and call management for any details.

9. 2021-11-27
   status Pending
10. 2021-11-26
    status Pending

    Show marketing remark (876 chars)

    Woodlands of Chatterton Village. Just a great place to live. Pull into your attached garage. This unit is an upper level ranch. Vaulted ceilings in the Living room, loads of sunlight throughout updated kitchen highlighting the one huge piece quartz counter top including the breakfast nook. Pendant lights above. Stainless steel appliances. Walk in pantry. Dinette with door wall to balcony. Head down the hallway to huge master bedroom which includes attached master bath, walk in closet, and vaulted ceilings. A second full bath off hallway supports 2 nd bedroom. Immediate occupancy puts you in as soon as you can. . Association had an outdoor swimming pool and club house (rentable). Pretty close to interstates going in any direction. You can lease out units at Woodlands of Chatterton village but please always do review the bylaws and call management for any details.

11. 2021-11-08
    listed $199,900 Active

    Show marketing remark (876 chars)

    Woodlands of Chatterton Village. Just a great place to live. Pull into your attached garage. This unit is an upper level ranch. Vaulted ceilings in the Living room, loads of sunlight throughout updated kitchen highlighting the one huge piece quartz counter top including the breakfast nook. Pendant lights above. Stainless steel appliances. Walk in pantry. Dinette with door wall to balcony. Head down the hallway to huge master bedroom which includes attached master bath, walk in closet, and vaulted ceilings. A second full bath off hallway supports 2 nd bedroom. Immediate occupancy puts you in as soon as you can. . Association had an outdoor swimming pool and club house (rentable). Pretty close to interstates going in any direction. You can lease out units at Woodlands of Chatterton village but please always do review the bylaws and call management for any details.

12. 2021-11-08
    listed $199,900 Active

    Show marketing remark (876 chars)

    Woodlands of Chatterton Village. Just a great place to live. Pull into your attached garage. This unit is an upper level ranch. Vaulted ceilings in the Living room, loads of sunlight throughout updated kitchen highlighting the one huge piece quartz counter top including the breakfast nook. Pendant lights above. Stainless steel appliances. Walk in pantry. Dinette with door wall to balcony. Head down the hallway to huge master bedroom which includes attached master bath, walk in closet, and vaulted ceilings. A second full bath off hallway supports 2 nd bedroom. Immediate occupancy puts you in as soon as you can. . Association had an outdoor swimming pool and club house (rentable). Pretty close to interstates going in any direction. You can lease out units at Woodlands of Chatterton village but please always do review the bylaws and call management for any details.

13. 2015-04-10
    soldstatus $121,900 Sold
14. 2015-04-10
    soldstatus $121,900
15. 2015-02-11
    historical
16. 2015-02-11
    historical
17. 2015-02-04
    price $121,900
18. 2015-01-05
    listed $133,400 Active
19. 2015-01-05
    listed $121,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $4,044 · $337/mo
• Projected year-2 tax: $4,044 · $337/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,896
• − Mortgage interest: −$13,164
• − Property taxes: −$4,044
• − Insurance: −$1,175
• − Repairs & maintenance: −$1,912
• − Management: −$1,912
• − HOA: −$3,540
• − Depreciation: −$6,836
• Taxable loss: −$8,686
• Est. tax savings @ 24.0%: +$2,085
• After-tax cash flow: $-2,585/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: Van Buren Public Schools
• NCES district ID: 2634560
• Math proficiency: 33% ▲ 6.00%
• Reading proficiency: 43% ▲ 6.00%
• Median HH income: $54,166
• Composite: 33.2/100
• National rank: #5533
• State rank: #228 of 540 in MI

Livability — Belleville

• Score: 75/100
• State rank: #164
• US rank: #4360

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Wayne County · 1,562,939 people
• City population: 99,041
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 45,665
• Household income: $122,781
• Rent vs Own: 17.2% rent · 82.8% own
• Severe rent burden: 486.0

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 1,675,273 people
• By 2030: 1,620,300 · -3.3%
• By 2040: 1,502,341 · -10.3%
• By 2050: 1,384,039 · -17.4%
• By 2075: 1,124,592 · -32.9%
• By 2100: 881,193 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.59)
• Race & ethnicity: White 58% Asian 23% Black 11% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Romanian 8% Lithuanian 3% Slovak 2%
• Foreign-born: 23% · Canada, China, Vietnam
• Languages at home: 74% English-only · Other Indo-European 12% Other Asian/Pacific 4% Arabic 3%

Political lean MEDSL · Wayne

• 2024 margin: Strong D (+29.0) · D 62.7% · R 33.7% · Other 3.6%
• 2008→2024 swing: -20.5pp toward R · 2008: 49.5pp · 2024: 29.0pp
• All cycles: 2024: D+29.0 2020: D+38.1 2016: D+37.3 2012: D+46.9 2008: D+49.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -299.09%
• Current HPI: 193.4673
• Rent YoY: ▲ 0.46%
• 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

+92.8% since first listed

21 events — show timeline

• 2026-05-28 Sold (MLS) $235,000 MiRealSource-MiMLS
• 2026-05-28 Sold (MLS) $235,000 REALCOMP
• 2026-05-05 Pending — MiRealSource-MiMLS
• 2026-05-05 Pending — REALCOMP
• 2026-04-29 Listed $235,000 MiRealSource-MiMLS
• 2026-04-29 Listed $235,000 REALCOMP
• 2026-04-27 Coming Soon $235,000 MiRealSource-MiMLS
• 2022-01-04 Sold (Public Records) $197,500 Public Records
• 2021-12-27 Sold (MLS) $197,500 MiRealSource-MiMLS
• 2021-12-27 Sold (MLS) $197,500 REALCOMP
• 2021-11-27 Pending — MiRealSource-MiMLS
• 2021-11-26 Pending — REALCOMP
• 2021-11-08 Listed $199,900 MiRealSource-MiMLS
• 2021-11-08 Listed $199,900 REALCOMP
• 2015-04-10 Sold (MLS) $121,900 MiRealSource-MiMLS
• 2015-04-10 Sold (MLS) $121,900 REALCOMP
• 2015-02-11 Listing Removed — REALCOMP
• 2015-02-11 Listing Removed — MiRealSource-MiMLS
• 2015-02-04 Price Changed $121,900 REALCOMP
• 2015-01-05 Listed $133,400 REALCOMP
• 2015-01-05 Listed $121,900 MiRealSource-MiMLS

Property tax history

+9.3%/yr

Latest (2025): $4,044 · +2.7% YoY. Source: county tax records.