25860 Lira Ln #5 · Warren, MI 48089

$115,000

2 bd · 1.0 ba · 831 sqft · Condo public records · 77 Days on market

Built 1990 $138/sqft · at area comps Est $110k · at est. $200/mo HOA · 15% 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 +18.9/30.0
• 1% rule +6.9/10.0
• DSCR +6.0/10.0
• ARV discount +5.3/15.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Schools +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Check this move in ready nice 2 bedroom, 1 Full bath condo. Plenty of parking with your own carport. Small Patio in back. Included-Stove, Refrigerator, Microwave, Washer and Dryer, Dishwasher and garbage disposal.

Key facts

• $200 HOA
• Built 1990
• Listed 76 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $118 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 5.3% in Warren — 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 (#171 in MI, #4,491 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D, amenities D, employment D.
• Warren Woods Public Schools (urban): math 23% / reading 40% proficiency, ranked #336 of 540 in MI (top 62%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.9%/yr); 160 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,321 units permitted in Macomb County in 2024 (86 in 5+ unit buildings).
• This rent runs 31% of the median local income ($52k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 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

• It's been on market 77 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 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.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $108,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 1.19% ✓
• Cap rate: 7.52%
• Cash-on-cash: 4.39%
• DSCR: 1.20
• GRM: 7.0

CMA / ARV

• ARV (median comp): $109,700
• List price: $115,000
• Delta: 4.83%
• Verdict: FAIR
• Comps: 11 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.94% rent growth · sell at horizon

5-year hold

• IRR: -9.4%
• Equity multiple: 0.66×
• Total profit: $-11,087
• Equity at exit: $17,147

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $177
• Equity at exit: $9,943

Cash invested: $32,200 (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 48089

• Rents YoY: 2.9%
• Active inventory: 160
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,368 high
• Mortgage (P&I): −$603
• Tax from tax record: −$112 /mo · $1,340/yr
• Insurance: −$48
• HOA: −$200
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $118

Break-even live

Break-even rent $1,219

Max offer price $115,000

Occupancy floor 86%

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
25672 Lira Ln Warren, MI	2.0	1.0	831	$1,250	$1.50	17d	1	0.06mi
26160 Regency Club Dr Warren, MI	1.0–3.0	1.0–2.0	1011	$1,470	$1.45	1d	15	0.22mi
25202 Firwood Ave Warren, MI	3.0	1.0	1100	$1,350	$1.23	24d	1	0.30mi
25107 Rosenbusch Blvd Warren, MI	3.0	1.0	903	$1,523	$1.69	14d	1	0.45mi
26711 Lehner St Roseville, MI	3.0	1.0	960	$1,575	$1.64	24d	1	0.65mi
26153 Nagel St Roseville, MI	3.0	1.0	924	$1,500	$1.62	14d	1	0.67mi
25184 Wiseman St Roseville, MI	3.0	1.0	895	$1,750	$1.96	21d	1	0.68mi
25184 Wiseman St Roseville, MI	3.0	1.0	1000	$1,750	$1.75	3d	1	0.68mi
13741 McKinley Ave Unit 1032320P Warren, MI	2.0	1.0	839	$5,023	$5.99	1d	1	0.74mi
26536 Kathy St Roseville, MI	3.0	1.0	1000	$1,499	$1.50	24d	1	0.80mi
26511 Grandmont St Roseville, MI	3.0	1.0	960	$1,495	$1.56	4d	1	0.87mi
27241 Woodmont St Roseville, MI	3.0	1.0	924	$1,550	$1.68	1d	1	1.04mi
13006 E 11 Mile Rd Unit 6 Warren, MI	2.0	1.0	850	$1,075	$1.26	14d	1	1.13mi
13006 E 11 Mile Rd Unit 6 Warren, MI	2.0	1.0	850	$1,050	$1.24	43d	1	1.13mi
16840 E Eleven Mile Rd Roseville, MI	2.0	1.0	900	$1,300	$1.44	21d	3	1.40mi
16840 E Eleven Mile Rd Unit 104 Roseville, MI	2.0	1.0	900	$1,200	$1.33	43d	1	1.40mi
16840 E Eleven Mile Rd Roseville, MI	2.0	1.0	900	$1,300	$1.44	24d	3	1.40mi
16840 E 11 Mile Rd Unit 109 Roseville, MI	2.0	1.0	900	$1,400	$1.56	43d	1	1.40mi
16840 E Eleven Mile Rd Unit 103 Roseville, MI	2.0	1.0	900	$1,250	$1.39	43d	1	1.40mi
16944 E 11 Mile Rd Unit C2 Roseville, MI	2.0	1.0	900	$1,295	$1.44	24d	1	1.46mi

HOA detail condo

• Monthly dues: $200 · $2,400/yr
• Likely covers: trash
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-15
   statusdays on market $115,000 Active 77 DOM
2. 2026-06-13
   days on market $115,000 Active Under Contract 75 DOM
3. 2026-06-13
   days on market $115,000 Active Under Contract 74 DOM
4. 2026-06-09
   days on market $115,000 Active Under Contract 71 DOM
5. 2026-06-08
   days on market $115,000 Active Under Contract 70 DOM
6. 2026-06-07
   days on market $115,000 Active Under Contract 69 DOM
7. 2026-06-04
   days on market $115,000 Active Under Contract 66 DOM
8. 2026-06-03
   days on market $115,000 Active Under Contract 65 DOM
9. 2026-06-02
   days on market $115,000 Active Under Contract 64 DOM
10. 2026-06-01
    days on market $115,000 Active Under Contract 63 DOM
11. 2026-05-31
    days on market $115,000 Active Under Contract 62 DOM
12. 2026-03-31
    listed $115,000 Active 213-char remark

    Show marketing remark (213 chars)

    Check this move in ready nice 2 bedroom, 1 Full bath condo. Plenty of parking with your own carport. Small Patio in back. Included-Stove, Refrigerator, Microwave, Washer and Dryer, Dishwasher and garbage disposal.

13. 2026-03-31
    listed $115,000 Active 213-char remark

    Show marketing remark (213 chars)

    Check this move in ready nice 2 bedroom, 1 Full bath condo. Plenty of parking with your own carport. Small Patio in back. Included-Stove, Refrigerator, Microwave, Washer and Dryer, Dishwasher and garbage disposal.

14. 2026-03-30
    historical $115,000 213-char remark

    Show marketing remark (213 chars)

    Check this move in ready nice 2 bedroom, 1 Full bath condo. Plenty of parking with your own carport. Small Patio in back. Included-Stove, Refrigerator, Microwave, Washer and Dryer, Dishwasher and garbage disposal.

15. 2026-01-15
    soldstatus $104,000
16. 1990-07-27
    soldstatus $49,900

ⓘ 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: $1,340 · $112/mo
• Projected year-2 tax: $1,556 · $130/mo
• Expected delta: +$215/yr (+$18/mo · 16.1%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 66% 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: $16,413
• − Mortgage interest: −$6,442
• − Property taxes: −$1,340
• − Insurance: −$575
• − Repairs & maintenance: −$1,313
• − Management: −$1,313
• − HOA: −$2,400
• − Depreciation: −$3,345
• Taxable loss: −$315
• Est. tax savings @ 24.0%: +$76
• After-tax cash flow: $1,490/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: Warren Woods Public Schools
• NCES district ID: 2635220
• Math proficiency: 23% ▼ -9.00%
• Reading proficiency: 40% ▼ -5.00%
• Median HH income: $49,013
• Composite: 27.29/100
• National rank: #7003
• State rank: #336 of 540 in MI

Livability — Warren

• Score: 74/100
• State rank: #171
• US rank: #4491

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Warren, MI
• County: Macomb County · 638,552 people
• City population: 114,937
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 31,853
• Household income: $52,366
• Rent vs Own: 43.4% rent · 56.6% own
• Severe rent burden: 1754.0

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: Diverse neighborhood (Simpson 0.61)
• Race & ethnicity: White 53% Black 31% Asian 7% Two or more races 6% Hispanic / Latino 3%
• Common ancestry: Romanian 11% Lithuanian 3% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Other Asian/Pacific 3% Other Indo-European 2% Arabic 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: ▼ -211.46%
• Current HPI: 154.8325
• Rent YoY: ▲ 2.94%
• 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

+130.5% since first listed

5 events — show timeline

• 2026-03-31 Listed $115,000 MiRealSource-MiMLS
• 2026-03-31 Listed $115,000 REALCOMP
• 2026-03-30 Coming Soon $115,000 MiRealSource-MiMLS
• 2026-01-15 Sold (Public Records) $104,000 Public Records
• 1990-07-27 Sold (Public Records) $49,900 Public Records

Property tax history

+1.4%/yr

Latest (2025): $1,340 · +2.5% YoY. Source: county tax records.