22871 Grove Street St #57 · St. Clair Shores, MI 48080

$79,900

1 bd · 1.0 ba · 617 sqft · Condo public records · 1 Days on market

Built 1973 $350/mo HOA · 30% 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 +11.7/30.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• DSCR +3.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Recently remodeled, this inviting Saint Clair Shores condo offers stylish updates, comfortable living, and a convenient location near shopping, dining, and waterfront attractions! Buyers can also take advantage of special financing available, our exclusive Buy This Home, We’ll Buy Yours Guarantee * , and 24-Month Buyback Guarantee * for added confidence and peace of mind.

Key facts

• $350 HOA
• Built 1973

Property features AI

Finance

• Other: Pet restrictions: call for details; City: Macomb Twp (mailing city Saint Clair Shores)
• Financial info: Land contract available (360 months, 8% interest, approximate payment $528/month)
• HOA & community: Monthly association fee of $350; Association fee includes gas, trash removal, and water/sewer; Association phone available

Exterior

• Utilities: Public water
• Home design: Condominium; One-story; Built in 1973; Unit number 57
• Construction: Brick exterior; Slab foundation; Built in 1973
• Exterior features: Brick construction; Paved street

Interior

• Kitchen: Entry-level kitchen (13 x 8); Range/Oven; Refrigerator
• Bedrooms: Primary bedroom on the entry level (17 x 11)
• Bathrooms: One full bathroom on the entry level (8 x 5)
• Heating & cooling: Forced air heating; Central air conditioning; Natural gas heat/fuel
• Interior features: Total of 4 rooms; Range/Oven; Refrigerator

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $80k.

Deal economics

• At list price, monthly cash flow is $-23 ($-280/yr) — negative.
• To cash-flow at today's rent, offer at most $76k (5.2% below list).
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $76k (5.2% below list) — sets the bar for cash-flow.
• Cap rate 5.9% vs local median 4.2% in St. Clair Shores — 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: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• South Lake Schools (suburban): math 11% / reading 26% proficiency, ranked #470 of 540 in MI (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 161 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $552 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $41k; list at $80k implies a 95% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 30% of rent.

Recommended offer $75,779 (5.2% 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. Built in 1973 — 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. 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?
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: 1.47% ✓
• Cap rate: 5.94%
• Cash-on-cash: -1.25%
• DSCR: 0.94
• GRM: 5.7

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: -17.9%
• Equity multiple: 0.37×
• Total profit: $-14,169
• Equity at exit: $11,913

10-year hold

• IRR: -9.4%
• Equity multiple: 0.41×
• Total profit: $-13,177
• Equity at exit: $6,908

Cash invested: $22,372 (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 48080

• Active inventory: 161
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,178 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$151 /mo · $1,815/yr
• Insurance: −$33
• HOA: −$350
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $-23

Break-even live

Break-even rent $1,207

Max offer price $75,779

Occupancy floor 97%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22843 Grove St #47 Saint Clair Shores, MI	1.0	1.0	700	$1,100	$1.57	19d	1	0.01mi
21601 E 10 Mile Rd St Clair Shores, MI	1.0	1.0	750	$985	$1.31	24d	1	1.28mi
24901 Jefferson Ave Unit 210 St Clair Shores, MI	2.0	1.0	700	$1,300	$1.86	5d	1	1.39mi

HOA detail condo

• Monthly dues: $350 · $4,200/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-06-07
   statusdays on marketlisting id $79,900 Active 1 DOM
2. 2026-06-04
   days on market $79,900 Coming Soon 2 DOM
3. 2026-06-02
   remarks 375-char remark
4. 2026-06-02
   listed $79,900 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: $1,815 · $151/mo
• Projected year-2 tax: $1,815 · $151/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,130
• − Mortgage interest: −$4,476
• − Property taxes: −$1,815
• − Insurance: −$400
• − Repairs & maintenance: −$1,130
• − Management: −$1,130
• − HOA: −$4,200
• − Depreciation: −$2,324
• Taxable loss: −$1,345
• Est. tax savings @ 24.0%: +$323
• After-tax cash flow: $43/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: South Lake Schools
• NCES district ID: 2632220
• Math proficiency: 11% ▼ -10.00%
• Reading proficiency: 26% ▼ -12.00%
• Median HH income: $51,594
• Composite: 16.76/100
• National rank: #9159
• State rank: #470 of 540 in MI

Livability — St. Clair Shores

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: St. Clair Shores, MI
• County: Macomb County · 638,552 people
• City population: 58,217
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 21,561
• Household income: $66,986
• Rent vs Own: 21.5% rent · 78.5% own
• Severe rent burden: 530.0

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 (83%)
• Race & ethnicity: White 83% Black 8% Two or more races 6% Hispanic / Latino 4% Asian 2%
• Common ancestry: Romanian 14% Lithuanian 5% Slovak 2%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 92% English-only · Other Indo-European 3% Spanish 2% Russian/Polish/Slavic 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: ▼ -236.99%
• Current HPI: 231.507
• Rent YoY: —
• 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

+128.3% since first listed

5 events — show timeline

• 2026-06-02 Coming Soon $79,900 MiRealSource-MiMLS
• 2018-11-07 Sold (Public Records) $41,000 Public Records
• 2013-09-10 Sold (Public Records) $16,500 Public Records
• 1989-12-04 Sold (Public Records) $30,000 Public Records
• 1989-12-01 Sold (Public Records) $35,000 Public Records

Property tax history

+13.8%/yr

Latest (2025): $1,815 · +4.8% YoY. Source: county tax records.