9768 Cornell · Taylor, MI 48180

$62,000

2 bd · 1.5 ba · 744 sqft · Condo · 13 Days on market

Built 1970 Good condition $615/mo HOA

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Why this score? — see what drove the C 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 +20.8/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.6/10.0
• Livability +3.8/5.0
• Condition / age +3.8/5.0
• Rent growth +3.7/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-in ready 2BR/1.5BA co-op offering 744 sq. ft. of freshly updated living space, complete with a fully unfinished basement. Wood flooring for the living room. Community Perks: Enjoy access to a wooded walking trail, outdoor fitness circuit, brand-new playgrounds, EV charging stations, and a rentable clubhouse. All-Inclusive Living: The $615 monthly co-op fee covers nearly all utilities and maintenance - including gas, water, taxes, landscaping, and snow removal. This takes away the unexpected costs of homeownership, making your monthly budgeting so much easier. If you've been looking for an affordable option where the major expenses are already taken care of, this home is a must-see. Cash Only!

Key facts

• Rentable clubhouse
• Ev charging stations
• Wooded walking trail

Tags

• WOODED WALKING TRAIL
• OUTDOOR FITNESS CIRCUIT
• BRAND-NEW PLAYGROUNDS
• EV CHARGING STATIONS
• RENTABLE CLUBHOUSE

Property features AI

Finance

• Other: Directions: South on Cornell off Haig (south of Wick / east of Telegraph)
• HOA & community: Homeowners association with a monthly fee of $615; HOA fee covers gas, grounds maintenance, structure maintenance, sewer, snow removal, trash, and water

Exterior

• Parking: No garage; Assigned parking
• Utilities: Public water; Public sewer
• Home design: Condominium; Residential property; Two levels; Ground-level entry with steps; Brick and vinyl siding
• Construction: Brick and vinyl siding construction
• Exterior features: Paved road access; Pets allowed (contact for details)

Interior

• Kitchen: Disposal; Free-standing electric range
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Disposal; Free-standing electric range; Unfinished basement

🏢 Co-op / cooperative unit. The $62,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $62k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $85 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $62k).
• Cap rate 7.9% vs local median 5.4% in Taylor — 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 76/100 on livability (#144 in MI, #3,684 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, schools F, crime F.
• Taylor School District (urban): math 14% / reading 27% proficiency, ranked #462 of 540 in MI (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.9%/yr); 281 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $429 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $17k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 3y 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 $54k; 15% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 43% of rent.

Recommended offer $62,000

Questions for the listing agent

1. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 F-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. Crime grade is F 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?
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: 2.30% ✓
• Cap rate: 7.93%
• Cash-on-cash: 5.86%
• DSCR: 1.26
• GRM: 3.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.9% rent growth · sell at horizon

5-year hold

• IRR: -2.1%
• Equity multiple: 0.92×
• Total profit: $-1,467
• Equity at exit: $9,244

10-year hold

• IRR: 11.7%
• Equity multiple: 2.10×
• Total profit: $19,163
• Equity at exit: $5,361

Cash invested: $17,360 (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 48180

• Rents YoY: 4.9%
• Active inventory: 281
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,428 medium
• Mortgage (P&I): −$325
• Tax est. 1.5%: −$78 /mo · $930/yr
• Insurance: −$26
• HOA: −$615
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $85

Break-even live

Break-even rent $1,321

Max offer price $62,000

Occupancy floor 89%

Sensitivity live

Price	-10% $128	-5% $106	+0% $85	+5% $63	+10% $42
Rent	-10% $-28	-5% $28	+0% $85	+5% $141	+10% $198
Rate	-1.0pp $116	-0.5pp $101	base $85	+0.5pp $69	+1.0pp $52

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: $15,500
• Closing costs: $1,860
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24268 Haskell St Taylor, MI	1.0–2.0	1.0	880	$1,565	$1.78	2d	8	0.83mi
7873 Syracuse St Taylor, MI	2.0	1.0	728	$1,400	$1.92	44d	1	1.12mi
12555 Pine St Taylor, MI	1.0–3.0	1.0–1.5	830	$1,268	$1.53	2d	1	1.36mi

HOA detail condo

• Monthly dues: $615 · $7,380/yr
• Likely covers: watergaslandscapingsnow removal
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-17
   status $62,000 Pending 13 DOM
2. 2026-06-17
   days on market $62,000 Active Under Contract 13 DOM
3. 2026-06-16
   days on market $62,000 Active Under Contract 12 DOM
4. 2026-06-15
   status $62,000 Active Under Contract 11 DOM
5. 2026-06-15
   days on market $62,000 Active 11 DOM
6. 2026-06-13
   days on market $62,000 Active 9 DOM
7. 2026-06-13
   days on market $62,000 Active 8 DOM
8. 2026-06-09
   days on market $62,000 Active 5 DOM
9. 2026-06-08
   days on market $62,000 Active 4 DOM
10. 2026-06-07
    remarks 693-char remark
11. 2026-06-07
    listed $62,000 Active 3 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: $17,138
• − Mortgage interest: −$3,473
• − Property taxes: −$930
• − Insurance: −$310
• − Repairs & maintenance: −$1,371
• − Management: −$1,371
• − HOA: −$7,380
• − Depreciation: −$1,804
• Taxable income: $499
• Est. tax owed @ 24.0%: −$120
• After-tax cash flow: $897/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 · 10 photos

Good 75/100 Cosmetic rehab

This move-in ready 2BR/1.5BA co-op unit offers fresh updates and is in good condition, with minor cosmetic improvements needed to maximize its value.

Value-add opportunities

• Both paint interior walls — fresh paint enhances curb appeal and interior aesthetics
• Both replace ceiling fan — outdated ceiling fan can be replaced with a modern one
• Both update flooring in bedrooms — new flooring in bedrooms would improve the overall look and feel of the home

Renovation cost estimate screening

Value-add ROI direction

• Both paint interior walls — fresh paint enhances curb appeal and interior aesthetics ↑
• Both replace ceiling fan — outdated ceiling fan can be replaced with a modern one ↑
• Both update flooring in bedrooms — new flooring in bedrooms would improve the overall look and feel of the home ↑

ⓘ 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: Taylor School District
• NCES district ID: 2633540
• Math proficiency: 14% ▼ -7.00%
• Reading proficiency: 27% ▼ -4.00%
• Median HH income: $43,062
• Composite: 17.62/100
• National rank: #9034
• State rank: #462 of 540 in MI

Livability — Taylor

• Score: 76/100
• State rank: #144
• US rank: #3684

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Taylor, MI
• County: Wayne County · 1,562,939 people
• City population: 62,081
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 62,081
• Household income: $61,081
• Rent vs Own: 33.3% rent · 66.7% own
• Severe rent burden: 1957.0

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: Majority White (65%)
• Race & ethnicity: White 65% Black 19% Two or more races 9% Hispanic / Latino 9% Asian 2%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Romanian 8% Lithuanian 3% Slovak 2%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 4% Arabic 3% Other Indo-European 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: ▼ -212.33%
• Current HPI: 228.921
• Rent YoY: ▲ 4.90%
• 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

+15.0% since first listed

10 events — show timeline

• 2026-06-04 Listed $62,000 MiRealSource-MiMLS
• 2026-06-04 Listed $62,000 REALCOMP
• 2024-01-30 Sold (MLS) $53,900 MiRealSource-MiMLS
• 2024-01-30 Sold (MLS) $53,900 REALCOMP
• 2024-01-17 Pending — MiRealSource-MiMLS
• 2024-01-17 Pending — REALCOMP
• 2023-12-29 Listed $53,900 MiRealSource-MiMLS
• 2023-12-29 Listed $53,900 REALCOMP
• 2023-12-28 Coming Soon $53,900 MiRealSource-MiMLS
• 2023-12-28 Coming Soon $53,900 REALCOMP