34299 Garfield Cir #2 · Fraser, MI 48026

$99,000

2 bd · 1.0 ba · 966 sqft · Condo public records · 8 Days on market

Built 1971 $245/mo HOA · 19% of rent

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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 +20.3/30.0
• 1% rule +8.3/10.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• Livability +4.0/5.0
• Schools +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Well maintained 2-bedroom, 1 bath townhouse, centrally located off of Garfield in Fraser. Vinyl plank flooring throughout living room and dining room. Primary Bedroom has a large walk-in closet. First floor laundry. Central Air. Private Patio. Assigned Parking. All the conveniences of a condo at a great value!

Key facts

• $245 HOA
• Built 1971
• Listed 8 days

Property features AI

Finance

• Other: Located in the Garfield Green subdivision in Fraser (city); Directions: West of Garfield, South of 15 Mile Rd. Enter the subdivision from Garfield; this is the first building on the right.
• HOA & community: Monthly association fee of $245; Association covers lawn maintenance, trash removal, water and sewer; Association phone available

Exterior

• Parking: 1 assigned parking space (spots mentioned near building: 179 & 180 in directions)
• Utilities: Public water
• Home design: Condominium; 2-story; Unit/Building number 2; Built in 1971
• Construction: Brick and vinyl siding exterior; Slab foundation
• Exterior features: Patio; Private road access; Call for pet restrictions

Interior

• Kitchen: Kitchen on entry level (approximately 8 x 7) with ceramic flooring; Range/Oven; Refrigerator; Dishwasher
• Bedrooms: Bedroom on second level (16 x 10) with carpet; Bedroom on entry level (12 x 10) with carpet
• Flooring: Carpet in bedrooms; Ceramic in kitchen and bathroom
• Bathrooms: One full bathroom (second level) with ceramic flooring, approximately 8 x 5
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: Total of 6 rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $99k.

Deal economics

• At list price, monthly cash flow is $71 ($855/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Cap rate 7.8% vs local median 3.5% in Fraser — 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 81/100 on livability (#68 in MI, #1,459 nationally) — a professional / high-income tenant draw. Strengths: cost of living A+, housing A+, commute A-; Watch: amenities F.
• Fraser Public Schools (suburban): math 31% / reading 43% proficiency, ranked #244 of 540 in MI (top 45%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 66 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $684 of loan paydown is wiped out by about $3k 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 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $99,000

Questions for the listing agent

1. Built in 1971 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.33% ✓
• Cap rate: 7.83%
• Cash-on-cash: 5.49%
• DSCR: 1.24
• GRM: 6.2

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: -11.2%
• Equity multiple: 0.59×
• Total profit: $-11,308
• Equity at exit: $14,761

10-year hold

• IRR: -1.7%
• Equity multiple: 0.88×
• Total profit: $-3,203
• Equity at exit: $8,560

Cash invested: $27,720 (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 48026

• Active inventory: 66
• Price-to-rent: 6.2×

Monthly cashflow live

• Estimated rent: $1,321 high
• Mortgage (P&I): −$519
• Tax from tax record: −$112 /mo · $1,340/yr
• Insurance: −$41
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$245
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $71

Break-even live

Break-even rent $1,231

Max offer price $99,000

Occupancy floor 90%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16525 Woodlane #138 Fraser, MI	2.0	2.0	1061	$1,400	$1.32	43d	1	0.25mi
34632 Mercer Ln Fraser, MI	2.0	1.0	894	$1,295	$1.45	2d	1	0.29mi
33630 Utica Rd Fraser, MI	1.0	1.0	832	$1,425	$1.71	43d	1	0.34mi
34917 Hamilton Dr Fraser, MI	2.0	1.0	800	$1,395	$1.74	24d	1	0.36mi
34673 Clarkson Dr E #78 Fraser, MI	2.0	1.0	808	$1,150	$1.42	21d	1	0.41mi
16950 Kennedy Dr E Fraser, MI	1.0–2.0	1.0	755	$1,125	$1.49	15d	2	0.53mi
16695 Washington Sq Clinton Twp, MI	1.0–2.0	1.0	760	$1,350	$1.78	43d	1	0.55mi
16951 General Ave Fraser, MI	2.0	1.0	900	$1,250	$1.39	5d	1	0.95mi
0 Woodland MDWS Update, MI	1.0–2.0	1.0–2.0	1002	$2,052	$2.05	1d	9	1.12mi
18600 14 Mile Rd Fraser, MI	2.0	1.0	1070	$1,195	$1.12	24d	1	1.21mi
36607 Holiday Cir E Clinton Twp, MI	1.0–2.0	1.0	775	$1,249	$1.61	43d	2	1.26mi
32870 Kelly Rd Roseville, MI	1.0	1.0	800	$965	$1.21	16d	1	1.29mi
18391 Masonic Apt 1 Fraser, MI	2.0	1.0	720	$995	$1.38	16d	1	1.37mi
31577 Fraser Dr #3 Fraser, MI	2.0	1.0	950	$1,250	$1.32	43d	1	1.38mi

HOA detail condo

• Monthly dues: $245 · $2,940/yr
• Likely covers: parking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-06-19
   status $99,000 Pending 8 DOM
2. 2026-06-18
   days on market $99,000 Active 8 DOM
3. 2026-06-17
   days on market $99,000 Active 7 DOM
4. 2026-06-16
   days on market $99,000 Active 6 DOM
5. 2026-06-15
   days on market $99,000 Active 5 DOM
6. 2026-06-13
   days on market $99,000 Active 3 DOM
7. 2026-06-13
   statusdays on marketlisting id $99,000 Active 2 DOM
8. 2026-06-10
   remarks 311-char remark
9. 2026-06-10
   listed $99,000 Coming Soon 1 DOM

ⓘ 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: $1,340 · $112/mo
• Projected year-2 tax: $1,432 · $119/mo
• Expected delta: +$92/yr (+$8/mo · 6.9%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 100% 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 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,856
• − Mortgage interest: −$5,546
• − Property taxes: −$1,340
• − Insurance: −$1,162
• − Repairs & maintenance: −$1,269
• − Management: −$1,269
• − HOA: −$2,940
• − Depreciation: −$2,880
• Taxable loss: −$548
• Est. tax savings @ 24.0%: +$131
• After-tax cash flow: $986/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: Fraser Public Schools
• NCES district ID: 2614820
• Math proficiency: 31% ▼ -12.00%
• Reading proficiency: 43% ▼ -10.00%
• Median HH income: $49,752
• Composite: 31.94/100
• National rank: #5846
• State rank: #244 of 540 in MI

Livability — Fraser

• Score: 81/100
• State rank: #68
• US rank: #1459

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fraser, MI
• City population: 14,604
• Population (ZIP): 14,604

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 (81%)
• Race & ethnicity: White 81% Black 9% Two or more races 6% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 18% Lithuanian 3% Slovak 3%
• Foreign-born: 7% · Canada, South Korea, China
• Languages at home: 89% English-only · Other Indo-European 4% Arabic 2% Spanish 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: ▼ -210.50%
• Current HPI: 184.7521
• Rent YoY: —
• Metro: —
• 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

1 event — show timeline

• 2026-06-09 Coming Soon $99,000 MiRealSource-MiMLS

Property tax history

+2.3%/yr

Latest (2025): $1,340 · +2.7% YoY. Source: county tax records.