3026 Seaton Circuit St N · Warren, MI 48091

$119,900

2 bd · 1.5 ba · 1,580 sqft · Condo · 34 Days on market

Built 1971 Fair condition $76/sqft · 15% below area Est $140k · 15% under $241/mo HOA · 15% 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 +21.2/30.0
• ARV discount +14.0/15.0
• 1% rule +8.1/10.0
• DSCR +6.8/10.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• Condition / age +2.2/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this 2 bed, 1.5 bath condo in Warren! Bring your vision and a little TLC to transform this space into something truly special. Ideally situated near I-75 & I-696, schools, shopping centers, malls and lovely parks, this location offers both convenience and community. Don't let this chance slip away - condos like this don't last long! * * * Subject to probate court * * *

Key facts

• Near schools
• Near i-75
• Near malls

Tags

• NEAR I-75
• NEAR I-696
• NEAR SCHOOLS
• NEAR SHOPPING CENTERS
• NEAR MALLS
• NEAR PARKS

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $120k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $173 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.0% 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.
• Fitzgerald Public Schools (urban): math 8% / reading 23% proficiency, ranked #503 of 540 in MI (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 77% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.4%/yr); 168 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 35% of the median local income ($54k/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 $829 of loan paydown is wiped out by about $4k 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 34 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 23y ago; this cycle's ask has dropped $10k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $81k; 48% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $116,303 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1971 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.31% ✓
• Cap rate: 8.03%
• Cash-on-cash: 6.19%
• DSCR: 1.28
• GRM: 6.4

CMA / ARV

• ARV (median comp): $140,277
• List price: $119,900
• Delta: -14.53%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.35% rent growth · sell at horizon

5-year hold

• IRR: -7.5%
• Equity multiple: 0.72×
• Total profit: $-9,248
• Equity at exit: $17,877

10-year hold

• IRR: 1.2%
• Equity multiple: 1.08×
• Total profit: $2,709
• Equity at exit: $10,367

Cash invested: $33,572 (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 48091

• Rents YoY: 2.4%
• Active inventory: 168
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,573 high
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,798/yr
• Insurance: −$50
• HOA: −$241
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $173

Break-even live

Break-even rent $1,354

Max offer price $119,900

Occupancy floor 84%

Sensitivity live

Price	-10% $256	-5% $215	+0% $173	+5% $132	+10% $90
Rent	-10% $49	-5% $111	+0% $173	+5% $235	+10% $297
Rate	-1.0pp $234	-0.5pp $204	base $173	+0.5pp $142	+1.0pp $111

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2655 S Seaton Circuit St Warren, MI	3.0	1.5	1820	$1,650	$0.91	25d	1	0.12mi
25151 Dequindre Rd Madison Heights, MI	3.0	2.0	1088	$1,279	$1.18	24d	1	0.58mi
2709 Capitol Ave Warren, MI	3.0	2.0	1056	$1,649	$1.56	44d	1	0.69mi
3840 Bart Ave Warren, MI	3.0	1.0	1062	$1,350	$1.27	25d	1	0.74mi
4224 Frazho Rd Warren, MI	3.0	2.0	2052	$1,823	$0.89	13d	1	0.77mi
3951 Los Angeles Ave Warren, MI	3.0	1.0	1258	$1,500	$1.19	25d	1	0.89mi
959 E Shevlin Ave Hazel Park, MI	3.0	1.0	1419	$1,750	$1.23	15d	1	1.08mi
23378 Cunningham Ave Warren, MI	3.0	1.0	1140	$1,500	$1.32	3d	1	1.10mi
691 E Mapledale Ave Hazel Park, MI	2.0	1.0	1333	$1,500	$1.13	11d	1	1.17mi
23400 Reynolds Ave Hazel Park, MI	3.0	1.0	1305	$1,900	$1.46	5d	1	1.42mi
322 Jeff Keeton Dr Hazel Park, MI	2.0	2.5	1334	$2,350	$1.76	0d	1	1.43mi

HOA detail condo

• Monthly dues: $241 · $2,892/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 9 events

1. 2026-05-16
   price $119,900 399-char remark

   Show marketing remark (399 chars)

   Welcome home to this 2 bed, 1.5 bath condo in Warren! Bring your vision and a little TLC to transform this space into something truly special. Ideally situated near I-75 & I-696, schools, shopping centers, malls and lovely parks, this location offers both convenience and community. Don't let this chance slip away - condos like this don't last long! * * * Subject to probate court * * *

2. 2026-05-15
   price $119,900 415-char remark

   Show marketing remark (415 chars)

   Welcome home to this 2 bed, 1.5 bath condo in Warren! Bring your vision and a little TLC to transform this space into something truly special. Ideally situated near I-75 & I-696, schools, shopping centers, malls and lovely parks, this location offers both convenience and community. Don’t let this chance slip away— condos like this don’t last long! * * * Subject to probate court * * *

3. 2026-05-04
   price $124,900 399-char remark

   Show marketing remark (415 chars)

   Welcome home to this 2 bed, 1.5 bath condo in Warren! Bring your vision and a little TLC to transform this space into something truly special. Ideally situated near I-75 & I-696, schools, shopping centers, malls and lovely parks, this location offers both convenience and community. Don’t let this chance slip away— condos like this don’t last long! * * * Subject to probate court * * *

4. 2026-05-04
   price $124,900 415-char remark

   Show marketing remark (415 chars)

   Welcome home to this 2 bed, 1.5 bath condo in Warren! Bring your vision and a little TLC to transform this space into something truly special. Ideally situated near I-75 & I-696, schools, shopping centers, malls and lovely parks, this location offers both convenience and community. Don’t let this chance slip away— condos like this don’t last long! * * * Subject to probate court * * *

5. 2026-04-16
   listed $129,900 Active 415-char remark

   Show marketing remark (399 chars)

   Welcome home to this 2 bed, 1.5 bath condo in Warren! Bring your vision and a little TLC to transform this space into something truly special. Ideally situated near I-75 & I-696, schools, shopping centers, malls and lovely parks, this location offers both convenience and community. Don't let this chance slip away - condos like this don't last long! * * * Subject to probate court * * *

6. 2026-04-16
   listed $129,900 Active 399-char remark

   Show marketing remark (399 chars)

   Welcome home to this 2 bed, 1.5 bath condo in Warren! Bring your vision and a little TLC to transform this space into something truly special. Ideally situated near I-75 & I-696, schools, shopping centers, malls and lovely parks, this location offers both convenience and community. Don't let this chance slip away - condos like this don't last long! * * * Subject to probate court * * *

7. 2003-10-31
   soldstatus $81,000
8. 2003-09-07
   historical
9. 2003-09-02
   listed $84,900

ⓘ 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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,878
• − Mortgage interest: −$6,716
• − Property taxes: −$1,798
• − Insurance: −$600
• − Repairs & maintenance: −$1,510
• − Management: −$1,510
• − HOA: −$2,892
• − Depreciation: −$3,488
• Taxable income: $363
• Est. tax owed @ 24.0%: −$87
• After-tax cash flow: $1,991/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 · 12 photos

Fair 45/100 Moderate rehab

This 2-bedroom, 1.5-bathroom condo requires moderate renovations to update the kitchen and bathroom, and freshen up the interior. With a good location and potential for value increase, it's a great opportunity for an investor.

Repairs flagged

• Moderate kitchen cabinets — dated and worn
• Moderate kitchen appliances — outdated and worn
• Moderate bathroom fixtures — dated and worn

Value-add opportunities

• Both update kitchen cabinets and appliances — modernizing the kitchen would increase both resale and rental value
• Both update bathroom fixtures — modernizing the bathroom would increase both resale and rental value
• Both paint interior walls — fresh paint would improve the home's curb appeal and interior aesthetics
• Both replace carpeting — new flooring would improve the home's curb appeal and interior aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and worn	Moderate	$3,000–15,000
kitchen appliances · outdated and worn	Moderate	$3,000–15,000
bathroom fixtures · dated and worn	Moderate	$3,000–15,000
Total estimated repair cost · 3 items		$9,000–45,000

Value-add ROI direction

• Both update kitchen cabinets and appliances — modernizing the kitchen would increase both resale and rental value ↑
• Both update bathroom fixtures — modernizing the bathroom would increase both resale and rental value ↑
• Both paint interior walls — fresh paint would improve the home's curb appeal and interior aesthetics ↑
• Both replace carpeting — new flooring would improve the home's curb appeal and interior aesthetics ↑

ⓘ 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: Fitzgerald Public Schools
• NCES district ID: 2614460
• Math proficiency: 8% ▼ -8.00%
• Reading proficiency: 23% ▼ -11.00%
• Median HH income: $34,828
• Composite: 12.67/100
• National rank: #9608
• State rank: #503 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): 30,696
• Household income: $54,230
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 1296.0

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 0.68)
• Race & ethnicity: White 47% Black 25% Asian 19% Two or more races 5% Hispanic / Latino 3% Native American 2%
• Common ancestry: Romanian 7% Lithuanian 2% Slovak 1%
• Foreign-born: 16% · Canada
• Languages at home: 77% English-only · Other Indo-European 14% Other Asian/Pacific 3% Russian/Polish/Slavic 2%

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: ▼ -199.66%
• Current HPI: 177.9273
• Rent YoY: ▲ 2.35%
• 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

+41.2% since first listed

9 events — show timeline

• 2026-05-16 Price Changed $119,900 MiRealSource-MiMLS
• 2026-05-15 Price Changed $119,900 REALCOMP
• 2026-05-04 Price Changed $124,900 MiRealSource-MiMLS
• 2026-05-04 Price Changed $124,900 REALCOMP
• 2026-04-16 Listed $129,900 REALCOMP
• 2026-04-16 Listed $129,900 MiRealSource-MiMLS
• 2003-10-31 Sold (MLS) $81,000 MiRealSource-MiMLS
• 2003-09-07 Listing Removed — MiRealSource-MiMLS
• 2003-09-02 Listed $84,900 MiRealSource-MiMLS