20102 Great Oak Cir S #174 · Mount Clemens, MI 48036

$67,000

2 bd · 1.5 ba · 1,400 sqft · Condo · 73 Days on market

Built 1968 $621/mo HOA · 49% of rent ↓ 13% since listing

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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).

• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Cash flow +7.4/30.0
• Schools +4.0/10.0
• Livability +3.9/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• DSCR +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Motivated Seller! Desirable K style Co-op located in Charter Oaks, Clinton Township. Wood floors and partially finished basement. Half bath has vinyl flooring and granite counter top. Upstairs is primed for paint. Washer and dryer stay. Fridge and stove (co-op). Heat and water, clubhouse and pool are included. Parking right outside your door! This is a cash only Co-op and and purchaser must have a credit score of 670 and complete application with the co-op for a fee. Make easy street your next home!

Key facts

• Vinyl flooring
• Clubhouse
• Granite counter top

Tags

• PARTIALLY FINISHED BASEMENT
• VINYL FLOORING
• GRANITE COUNTER TOP
• CLUBHOUSE
• POOL

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $67k.

Deal economics

• At list price, monthly cash flow is $-85 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $55k (18.5% below list).
• Meets the 1% rule at list price ($1k rent vs $67k).
• Recommended offer: $55k (18.5% below list) — sets the bar for cash-flow.
• Cap rate 4.8% vs local median 3.5% in Mount Clemens — 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 77/100 on livability (#120 in MI, #2,918 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, crime D+, amenities D+.
• 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 rising (+3.1%/yr); 116 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $463 of loan paydown is wiped out by about $2k 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 73 days — a 6% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 49% of rent.

Recommended offer $54,637 (18.5% 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. It's been on market 73 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
3. Built in 1968 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. Crime grade is D 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?
10. 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?
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: 1.89% ✓
• Cap rate: 4.76%
• Cash-on-cash: -5.47%
• DSCR: 0.76
• GRM: 4.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.12% rent growth · sell at horizon

5-year hold

• IRR: -24.4%
• Equity multiple: 0.16×
• Total profit: $-15,745
• Equity at exit: $9,990

10-year hold

• IRR: -17.0%
• Equity multiple: 0.02×
• Total profit: $-18,461
• Equity at exit: $5,793

Cash invested: $18,760 (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 48036

• Home prices YoY: -29.2%
• Rents YoY: 3.1%
• Active inventory: 116
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,264 high
• Mortgage (P&I): −$351
• Tax est. 1.5%: −$84 /mo · $1,005/yr
• Insurance: −$28
• HOA: −$621
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $-85

Break-even live

Break-even rent $1,372

Max offer price $54,637

Occupancy floor —

Sensitivity live

Price	-10% $-39	-5% $-62	+0% $-85	+5% $-109	+10% $-132
Rent	-10% $-185	-5% $-135	+0% $-85	+5% $-36	+10% $14
Rate	-1.0pp $-52	-0.5pp $-68	base $-85	+0.5pp $-103	+1.0pp $-120

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: $16,750
• Closing costs: $2,010
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
36760 Farmbrook Dr Clinton Twp, MI	1.0–3.0	1.0–1.5	850	$1,108	$1.30	0d	8	0.19mi
37545 Charter Oaks Blvd Clinton Twp, MI	2.0	1.5	1110	$1,400	$1.26	44d	1	0.22mi
20475 Foster Dr Clinton Twp, MI	3.0	2.0	1056	$1,229	$1.16	22d	1	0.63mi
21613 Sunnyview St #14 Clinton Twp, MI	2.0	2.5	1209	$1,700	$1.41	0d	1	1.05mi
21620 Hillside Dr Unit 1B Clinton Twp, MI	2.0	1.0	900	$1,225	$1.36	44d	1	1.09mi
21641 Hillside Clinton Twp, MI	1.0–2.0	1.0	850	$1,250	$1.47	44d	3	1.09mi
20235 Abrahm St Clinton Twp, MI	3.0	1.5	978	$1,600	$1.64	0d	1	1.17mi
19709 Abrahm St Clinton Twp, MI	2.0	1.5	1175	$1,200	$1.02	3d	1	1.17mi

HOA detail condo

• Monthly dues: $621 · $7,452/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-04-13
   status Pending 504-char remark

   Show marketing remark (504 chars)

   Motivated Seller! Desirable K style Co-op located in Charter Oaks, Clinton Township. Wood floors and partially finished basement. Half bath has vinyl flooring and granite counter top. Upstairs is primed for paint. Washer and dryer stay. Fridge and stove (co-op). Heat and water, clubhouse and pool are included. Parking right outside your door! This is a cash only Co-op and and purchaser must have a credit score of 670 and complete application with the co-op for a fee. Make easy street your next home!

2. 2026-04-13
   status Pending

   Show marketing remark (504 chars)

   Motivated Seller! Desirable K style Co-op located in Charter Oaks, Clinton Township. Wood floors and partially finished basement. Half bath has vinyl flooring and granite counter top. Upstairs is primed for paint. Washer and dryer stay. Fridge and stove (co-op). Heat and water, clubhouse and pool are included. Parking right outside your door! This is a cash only Co-op and and purchaser must have a credit score of 670 and complete application with the co-op for a fee. Make easy street your next home!

3. 2026-04-10
   price $67,000 504-char remark

   Show marketing remark (504 chars)

   Motivated Seller! Desirable K style Co-op located in Charter Oaks, Clinton Township. Wood floors and partially finished basement. Half bath has vinyl flooring and granite counter top. Upstairs is primed for paint. Washer and dryer stay. Fridge and stove (co-op). Heat and water, clubhouse and pool are included. Parking right outside your door! This is a cash only Co-op and and purchaser must have a credit score of 670 and complete application with the co-op for a fee. Make easy street your next home!

4. 2026-04-09
   price $67,000
5. 2026-03-26
   price $68,000 504-char remark

   Show marketing remark (504 chars)

   Motivated Seller! Desirable K style Co-op located in Charter Oaks, Clinton Township. Wood floors and partially finished basement. Half bath has vinyl flooring and granite counter top. Upstairs is primed for paint. Washer and dryer stay. Fridge and stove (co-op). Heat and water, clubhouse and pool are included. Parking right outside your door! This is a cash only Co-op and and purchaser must have a credit score of 670 and complete application with the co-op for a fee. Make easy street your next home!

6. 2026-03-25
   price $68,000
7. 2026-02-28
   price $75,000 504-char remark

   Show marketing remark (504 chars)

   Motivated Seller! Desirable K style Co-op located in Charter Oaks, Clinton Township. Wood floors and partially finished basement. Half bath has vinyl flooring and granite counter top. Upstairs is primed for paint. Washer and dryer stay. Fridge and stove (co-op). Heat and water, clubhouse and pool are included. Parking right outside your door! This is a cash only Co-op and and purchaser must have a credit score of 670 and complete application with the co-op for a fee. Make easy street your next home!

8. 2026-02-28
   price $75,000

   Show marketing remark (504 chars)

   Motivated Seller! Desirable K style Co-op located in Charter Oaks, Clinton Township. Wood floors and partially finished basement. Half bath has vinyl flooring and granite counter top. Upstairs is primed for paint. Washer and dryer stay. Fridge and stove (co-op). Heat and water, clubhouse and pool are included. Parking right outside your door! This is a cash only Co-op and and purchaser must have a credit score of 670 and complete application with the co-op for a fee. Make easy street your next home!

9. 2026-01-30
   listed $77,000 Active 504-char remark

   Show marketing remark (504 chars)

   Motivated Seller! Desirable K style Co-op located in Charter Oaks, Clinton Township. Wood floors and partially finished basement. Half bath has vinyl flooring and granite counter top. Upstairs is primed for paint. Washer and dryer stay. Fridge and stove (co-op). Heat and water, clubhouse and pool are included. Parking right outside your door! This is a cash only Co-op and and purchaser must have a credit score of 670 and complete application with the co-op for a fee. Make easy street your next home!

10. 2026-01-30
    listed $77,000 Active

    Show marketing remark (504 chars)

    Motivated Seller! Desirable K style Co-op located in Charter Oaks, Clinton Township. Wood floors and partially finished basement. Half bath has vinyl flooring and granite counter top. Upstairs is primed for paint. Washer and dryer stay. Fridge and stove (co-op). Heat and water, clubhouse and pool are included. Parking right outside your door! This is a cash only Co-op and and purchaser must have a credit score of 670 and complete application with the co-op for a fee. Make easy street your next home!

ⓘ 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 ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,168
• − Mortgage interest: −$3,753
• − Property taxes: −$1,005
• − Insurance: −$335
• − Repairs & maintenance: −$1,213
• − Management: −$1,213
• − HOA: −$7,452
• − Depreciation: −$1,949
• Taxable loss: −$1,753
• Est. tax savings @ 24.0%: +$421
• After-tax cash flow: $-605/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: 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

Livability — Mount Clemens

• Score: 77/100
• State rank: #120
• US rank: #2918

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Macomb County · 638,552 people
• City population: 15,429
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 22,538
• Household income: $70,071
• Rent vs Own: 29.5% rent · 70.5% own
• Severe rent burden: 514.0

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 (65%)
• Race & ethnicity: White 65% Black 21% Two or more races 8% Hispanic / Latino 5% Asian 3%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 13% Lithuanian 3% English 2%
• Foreign-born: 4% · Canada, China, Jamaica
• Languages at home: 94% English-only · Spanish 3% Chinese 1% Other Indo-European 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: ▼ -111.99%
• Current HPI: 270.9126
• Rent YoY: ▲ 3.12%
• 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

-13.0% since first listed

10 events — show timeline

• 2026-04-13 Pending — MiRealSource-MiMLS
• 2026-04-13 Pending — REALCOMP
• 2026-04-10 Price Changed $67,000 MiRealSource-MiMLS
• 2026-04-09 Price Changed $67,000 REALCOMP
• 2026-03-26 Price Changed $68,000 MiRealSource-MiMLS
• 2026-03-25 Price Changed $68,000 REALCOMP
• 2026-02-28 Price Changed $75,000 MiRealSource-MiMLS
• 2026-02-28 Price Changed $75,000 REALCOMP
• 2026-01-30 Listed $77,000 REALCOMP
• 2026-01-30 Listed $77,000 MiRealSource-MiMLS