29165 Hayes Rd · Warren, MI 48088

$97,000

2 bd · 1.0 ba · 900 sqft · Condo · 14 Days on market

Built 1970 Fair condition $281/mo HOA · 21% 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 +20.1/30.0
• 1% rule +9.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.4/10.0
• Livability +3.7/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 Bedroom upper condo with an open and warm layout. Conveniently located near Macomb Community College and all major freeways. New furnace and A/C unit in 2024. Newer laminate wood flooring. Community pool to enjoy the hot Michigan summers. HOA allows rentals.

Key facts

• New furnace
• Community pool
• Open layout

Tags

• OPEN LAYOUT
• NEW FURNACE
• COMMUNITY POOL
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Pets allowed; Subdivision: YORKSHIRE WOODS CONDO; Cross streets: 12 Mile and Hayes
• HOA & community: Homeowners association with monthly fee of $281; HOA covers gas, grounds maintenance, sewer, snow removal, trash, and water

Exterior

• Parking: No garage; Carport
• Utilities: Public water; Public sewer
• Home design: Condominium; One level; Ground-level entry with steps; Brick construction
• Construction: Brick exterior
• Exterior features: Balcony; Paved road access

Interior

• Kitchen: Dishwasher; Disposal; Free-standing electric range; Free-standing refrigerator
• Bedrooms: Total of 4 rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air; Ceiling fan(s); Forced air heating; Natural gas
• Interior features: Dishwasher; Disposal; Free-standing electric range; Free-standing refrigerator; Unfinished basement; Balcony
• Laundry & utility: Laundry in common area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $97k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $120 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $97k).
• Cap rate 7.8% vs local median 5.2% 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: 112 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $671 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 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 20 sale attempts since 31y 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 $70k; 39% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $97,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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. 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.
9. 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.
10. 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: 1.40% ✓
• Cap rate: 7.78%
• Cash-on-cash: 5.32%
• DSCR: 1.24
• GRM: 6.0

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: -7.8%
• Equity multiple: 0.71×
• Total profit: $-7,862
• Equity at exit: $14,463

10-year hold

• IRR: 2.0%
• Equity multiple: 1.14×
• Total profit: $3,807
• Equity at exit: $8,387

Cash invested: $27,160 (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 48088

• Active inventory: 112
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,357 high
• Mortgage (P&I): −$509
• Tax est. 1.5%: −$121 /mo · $1,455/yr
• Insurance: −$40
• HOA: −$281
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $120

Break-even live

Break-even rent $1,204

Max offer price $97,000

Occupancy floor 86%

Sensitivity live

Price	-10% $187	-5% $154	+0% $120	+5% $87	+10% $53
Rent	-10% $13	-5% $67	+0% $120	+5% $174	+10% $227
Rate	-1.0pp $169	-0.5pp $145	base $120	+0.5pp $95	+1.0pp $70

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: $24,250
• Closing costs: $2,910
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
29157 Hayes Rd Warren, MI	1.0	1.0	720	$1,250	$1.74	44d	1	0.14mi
29125 Hayes Rd Warren, MI	2.0	1.0	900	$1,395	$1.55	0d	1	0.14mi
16425 12 Mile Rd Roseville, MI	1.0	1.0	600	$950	$1.58	44d	1	0.85mi
16425 12 Mile Rd Roseville, MI	2.0	1.0	800	$1,100	$1.38	22d	1	0.85mi
30541 Bluehill St Roseville, MI	3.0	1.5	989	$1,850	$1.87	44d	1	0.85mi
16435 Twelve Mile Rd Roseville, MI	1.0	1.0	600	$950	$1.58	44d	1	0.87mi
16577 12 Mile Rd Roseville, MI	2.0	1.0	850	$1,275	$1.50	44d	1	0.88mi
16579 12 Mile Rd Unit 16579 Roseville, MI	2.0	1.0	850	$1,275	$1.50	44d	1	0.88mi
16651 Twelve Mile Rd Roseville, MI	2.0–3.0	1.5	957	$1,325	$1.38	0d	1	0.97mi
31250 Schoenherr Rd Warren, MI	1.0–2.0	1.0–2.0	934	$1,250	$1.34	44d	2	1.16mi
27241 Woodmont St Roseville, MI	3.0	1.0	924	$1,550	$1.68	2d	1	1.16mi
26711 Lehner St Roseville, MI	3.0	1.0	960	$1,575	$1.64	25d	1	1.27mi
30428 Iroquois Dr Warren, MI	3.0	1.0	1000	$1,800	$1.80	2d	1	1.37mi
28368 Rosemont St Roseville, MI	2.0	1.0	696	$1,500	$2.16	22d	1	1.43mi
26536 Kathy St Roseville, MI	3.0	1.0	1000	$1,499	$1.50	25d	1	1.46mi
26160 Regency Club Dr Warren, MI	1.0–2.0	1.0–1.5	880	$1,698	$1.93	0d	15	1.49mi

HOA detail condo

• Monthly dues: $281 · $3,372/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-13
   statusdays on market $97,000 Pending 14 DOM
2. 2026-06-09
   days on market $97,000 Active 12 DOM
3. 2026-06-08
   days on market $97,000 Active 11 DOM
4. 2026-06-07
   days on market $97,000 Active 10 DOM
5. 2026-06-04
   days on market $97,000 Active 7 DOM
6. 2026-06-03
   days on market $97,000 Active 6 DOM
7. 2026-06-02
   days on market $97,000 Active 5 DOM
8. 2026-06-01
   days on market $97,000 Active 4 DOM
9. 2026-05-31
   days on market $97,000 Active 3 DOM
10. 2026-05-28
    listed $97,000 Active

    Show marketing remark (260 chars)

    2 Bedroom upper condo with an open and warm layout. Conveniently located near Macomb Community College and all major freeways. New furnace and A/C unit in 2024. Newer laminate wood flooring. Community pool to enjoy the hot Michigan summers. HOA allows rentals.

11. 2026-05-28
    listed $97,000 Active 260-char remark

    Show marketing remark (260 chars)

    2 Bedroom upper condo with an open and warm layout. Conveniently located near Macomb Community College and all major freeways. New furnace and A/C unit in 2024. Newer laminate wood flooring. Community pool to enjoy the hot Michigan summers. HOA allows rentals.

12. 2021-10-18
    soldstatus $70,000 749-char remark

    Show marketing remark (749 chars)

    This Yorkshire Woods 2 bedroom, 1 bath condo is clean, neutral and ready for new owners. First floor end unit with dedicated carport and plenty of community parking. Located deep into the complex and situated close to the pool. Living room with glass door leading to a private porch. Galley kitchen with plenty of oak cabinets. Kitchen pass through with option for snack bar. All stainless appliances included. Huge owner suite with dual closet and direct access to the updated full bath with newer flooring and crown molding. Dedicated storage space in the community basement and offers laundry services as well. Newer Central A/C, freshly painted and newer 6 panel doors. Association fee includes gas and water. Pets allowed. Warren Woods Schools.

13. 2021-09-23
    listed $70,000 749-char remark

    Show marketing remark (749 chars)

    This Yorkshire Woods 2 bedroom, 1 bath condo is clean, neutral and ready for new owners. First floor end unit with dedicated carport and plenty of community parking. Located deep into the complex and situated close to the pool. Living room with glass door leading to a private porch. Galley kitchen with plenty of oak cabinets. Kitchen pass through with option for snack bar. All stainless appliances included. Huge owner suite with dual closet and direct access to the updated full bath with newer flooring and crown molding. Dedicated storage space in the community basement and offers laundry services as well. Newer Central A/C, freshly painted and newer 6 panel doors. Association fee includes gas and water. Pets allowed. Warren Woods Schools.

14. 2015-09-28
    historical
15. 2015-09-28
    historical
16. 2015-09-17
    status Active
17. 2015-09-14
    historical
18. 2015-08-19
    historical
19. 2015-08-12
    listed $43,500
20. 2015-08-12
    price $39,000
21. 2015-08-05
    price $44,000
22. 2015-07-30
    listed $49,000 Active
23. 2015-07-30
    listed $39,000
24. 2010-01-02
    historical
25. 2009-12-19
    listed $29,900
26. 2008-12-09
    soldstatus $38,500
27. 2008-12-08
    soldstatus $39,900
28. 2008-11-05
    historical
29. 2008-09-30
    listed $45,900
30. 2008-09-29
    historical
31. 2008-09-29
    historical
32. 2008-08-18
    listed $700
33. 2008-07-11
    listed $45,900
34. 2008-07-09
    historical
35. 2008-04-07
    listed $45,900
36. 2008-04-07
    listed $54,900
37. 2008-04-07
    historical
38. 2008-04-07
    historical
39. 2007-10-25
    listed $59,900
40. 2007-10-22
    listed $59,900
41. 2004-08-12
    soldstatus $76,500
42. 2004-07-20
    historical
43. 2004-06-18
    listed $79,900
44. 2002-04-01
    soldstatus $67,500
45. 2002-03-16
    historical
46. 2002-02-26
    soldstatus $60,000
47. 2002-01-31
    listed $69,900
48. 2002-01-21
    historical
49. 2002-01-16
    listed $59,900
50. 2000-02-18
    soldstatus $59,500

ⓘ 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 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $16,278
• − Mortgage interest: −$5,434
• − Property taxes: −$1,455
• − Insurance: −$485
• − Repairs & maintenance: −$1,302
• − Management: −$1,302
• − HOA: −$3,372
• − Depreciation: −$2,822
• Taxable income: $107
• Est. tax owed @ 24.0%: −$26
• After-tax cash flow: $1,418/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 · 1 photo

Fair 45/100 Moderate rehab

The property requires moderate renovations, focusing on the kitchen and bathroom, to improve its condition and value.

Repairs flagged

• Major kitchen cabinets — No photos of kitchen
• Major bathroom fixtures — No photos of bathroom
• Major HVAC system — No photos of HVAC/mechanicals

Value-add opportunities

• Both Paint interior walls — Fresh paint can improve the home's appearance and appeal to buyers/renters
• Both Replace kitchen cabinets — New cabinets can enhance the kitchen's functionality and aesthetic
• Both Replace bathroom fixtures — New fixtures can improve the bathroom's functionality and aesthetic
• Both Upgrade HVAC system — A new HVAC system can improve comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · No photos of kitchen	Major	$15,000–50,000
bathroom fixtures · No photos of bathroom	Major	$15,000–50,000
HVAC system · No photos of HVAC/mechanicals	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint can improve the home's appearance and appeal to buyers/renters ↑
• Both Replace kitchen cabinets — New cabinets can enhance the kitchen's functionality and aesthetic ↑
• Both Replace bathroom fixtures — New fixtures can improve the bathroom's functionality and aesthetic ↑
• Both Upgrade HVAC system — A new HVAC system can improve comfort and energy efficiency ↑

ⓘ 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: 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
• City population: 114,937
• Population (ZIP): 23,443

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 (74%)
• Race & ethnicity: White 74% Black 13% Asian 6% Hispanic / Latino 5% Two or more races 5%
• Common ancestry: Romanian 14% Lithuanian 4% Slovak 2%
• Foreign-born: 11% · Canada
• Languages at home: 84% English-only · Arabic 4% Other Indo-European 3% Spanish 3%

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: ▼ -213.65%
• Current HPI: 206.4018
• 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

+116.1% since first listed

46 events — show timeline

• 2026-05-28 Listed $97,000 MiRealSource-MiMLS
• 2026-05-28 Listed $97,000 REALCOMP
• 2021-10-18 Sold (MLS) $70,000 REALCOMP
• 2021-09-23 Listed $70,000 REALCOMP
• 2015-09-28 Listing Removed — REALCOMP
• 2015-09-28 Listing Removed — MiRealSource-MiMLS
• 2015-09-17 Relisted — MiRealSource-MiMLS
• 2015-09-14 Listing Removed — MiRealSource-MiMLS
• 2015-08-19 Listing Removed — REALCOMP
• 2015-08-12 Listed $43,500 REALCOMP
• 2015-08-12 Price Changed $39,000 MiRealSource-MiMLS
• 2015-08-05 Price Changed $44,000 MiRealSource-MiMLS
• 2015-07-30 Listed $49,000 MiRealSource-MiMLS
• 2015-07-30 Listed $39,000 REALCOMP
• 2010-01-02 Listing Removed — MiRealSource-MiMLS
• 2009-12-19 Listed $29,900 MiRealSource-MiMLS
• 2008-12-09 Sold (MLS) $38,500 REALCOMP
• 2008-12-08 Sold (MLS) $39,900 MiRealSource-MiMLS
• 2008-11-05 Listing Removed — MiRealSource-MiMLS
• 2008-09-30 Listed $45,900 MiRealSource-MiMLS
• 2008-09-29 Listing Removed — MiRealSource-MiMLS
• 2008-09-29 Listing Removed — MiRealSource-MiMLS
• 2008-08-18 Listed $700 MiRealSource-MiMLS
• 2008-07-11 Listed $45,900 MiRealSource-MiMLS
• 2008-07-09 Listing Removed — MiRealSource-MiMLS
• 2008-04-07 Listing Removed — REALCOMP
• 2008-04-07 Listing Removed — MiRealSource-MiMLS
• 2008-04-07 Listed $54,900 MiRealSource-MiMLS
• 2008-04-07 Listed $45,900 REALCOMP
• 2007-10-25 Listed $59,900 REALCOMP
• 2007-10-22 Listed $59,900 MiRealSource-MiMLS
• 2004-08-12 Sold (MLS) $76,500 MiRealSource-MiMLS
• 2004-07-20 Listing Removed — MiRealSource-MiMLS
• 2004-06-18 Listed $79,900 MiRealSource-MiMLS
• 2002-04-01 Sold (MLS) $67,500 MiRealSource-MiMLS
• 2002-03-16 Listing Removed — MiRealSource-MiMLS
• 2002-02-26 Sold (MLS) $60,000 MiRealSource-MiMLS
• 2002-01-31 Listed $69,900 MiRealSource-MiMLS
• 2002-01-21 Listing Removed — MiRealSource-MiMLS
• 2002-01-16 Listed $59,900 MiRealSource-MiMLS
• 2000-02-18 Sold (MLS) $59,500 MiRealSource-MiMLS
• 2000-01-25 Listing Removed — MiRealSource-MiMLS
• 2000-01-22 Listed $59,500 MiRealSource-MiMLS
• 1995-06-29 Sold (MLS) $40,500 MiRealSource-MiMLS
• 1995-03-15 Listing Removed — MiRealSource-MiMLS
• 1995-03-14 Listed $44,890 MiRealSource-MiMLS