31 Fessenden St · Mount Clemens, MI 48043

$139,900

4 bd · 1.5 ba · 1,400 sqft · SingleFamily · 13 Days on market

Built 1950 5,227 sqft lot Est $239k · 42% under

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Why this score? — see what drove the B- 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 +24.8/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +7.4/10.0
• Rent growth +5.0/5.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Schools +0.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent investor opportunity in a great Mt Clemens neighborhood. Perfect for a flip, rental or even someone looking to use some elbow grease and enjoy instant equity. The home is turn key but could use some updates, etc. Home features forced central air and A/C, has 4 bedrooms or 3 and enclosed office space. Nice deep basement. All info and measurements are approximations so be sure to verify. Listing Broker is owner

Key facts

• Forced central air
• Deep basement
• 5,227 sq ft lot

Tags

• MT CLEMENS NEIGHBORHOOD
• FORCED CENTRAL AIR
• DEEP BASEMENT

Property features AI

Exterior

• Parking: Detached 2-car garage; Paved driveway
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two stories; Ground-level entry
• Construction: Aluminum siding; Block foundation
• Exterior features: Covered porch

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Unfinished basement; 7 total rooms

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $297 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 8.8% vs local median 3.5% in Mount Clemens — 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 77/100 on livability (#120 in MI, #2,918 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, crime D+, amenities D+.
• Mount Clemens Community School District (suburban): math 4% / reading 11% proficiency, ranked #532 of 540 in MI (top 98%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+10.8%/yr); 66 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,321 units permitted in Macomb County in 2024 (86 in 5+ unit buildings).
• This rent runs 40% 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 $967 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $39k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 10y 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 $35k; list at $140k implies a 300% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $139,900

Questions for the listing agent

1. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.24% ✓
• Cap rate: 8.84%
• Cash-on-cash: 9.09%
• DSCR: 1.40
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $239,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
44 Fessenden St	0.04mi	3/1.0 (-1)	1,337 (-4%)	7mo	$118,000	$88	77
104 Riverside Dr	0.30mi	3/2.0 (-1)	1,386 (-1%)	8mo	$240,000	$173	70
60 Riverside Dr	0.32mi	4/2.0	1,522 (+9%)	3mo	$260,000	$171	66
53 Eastman St	0.18mi	3/2.0 (-1)	1,200 (-14%)	1mo	$240,000	$200	60
127 Jones St	0.65mi	5/2.0 (+1)	1,360 (-3%)	5mo	$33,500	$25	53
75 Church St	0.71mi	3/2.0 (-1)	1,380 (-1%)	5mo	$305,000	$221	53
263 N Walnut St	0.66mi	3/1.5 (-1)	1,325 (-5%)	3mo	$132,000	$100	53
129 South Ave	0.71mi	3/2.5 (-1)	1,450 (+4%)	1mo	$274,000	$189	51
9 Queen St	0.72mi	3/2.5 (-1)	1,480 (+6%)	1mo	$264,000	$178	47
55 Meadle St	0.54mi	3/2.0 (-1)	1,560 (+11%)	7mo	$245,500	$157	43
167 N Broadway St	0.45mi	3/1.0 (-1)	1,200 (-14%)	6mo	$185,000	$154	43
24503 Crocker Blvd	0.73mi	3/2.0 (-1)	1,530 (+9%)	4mo	$255,000	$167	40

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 3.4%
• Equity multiple: 1.14×
• Total profit: $5,491
• Equity at exit: $20,860

10-year hold

• IRR: 17.5%
• Equity multiple: 2.82×
• Total profit: $71,212
• Equity at exit: $12,096

Cash invested: $39,172 (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 48043

• Rents YoY: 10.8%
• Active inventory: 66
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,734 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$281 /mo · $3,376/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $297

Break-even live

Break-even rent $1,359

Max offer price $139,900

Occupancy floor 78%

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
40 Ferrin Pl Mount Clemens, MI	3.0	1.0	1400	$1,700	$1.21	1d	1	0.90mi
15 Washington St Unit 2 Mt Clemens, MI	3.0	1.0	1396	$1,400	$1.00	43d	1	0.92mi

Listing history 9 events

1. 2026-06-13
   statusdays on market $139,900 Pending 13 DOM
2. 2026-06-09
   days on market $139,900 Active 11 DOM
3. 2026-06-08
   days on market $139,900 Active 10 DOM
4. 2026-06-07
   days on market $139,900 Active 9 DOM
5. 2026-06-04
   days on market $139,900 Active 6 DOM
6. 2026-06-03
   days on market $139,900 Active 5 DOM
7. 2026-06-02
   days on market $139,900 Active 4 DOM
8. 2026-06-01
   days on market $139,900 Active 3 DOM
9. 2026-05-31
   days on market $139,900 Active 2 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: $3,376 · $281/mo
• Projected year-2 tax: $3,376 · $281/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 6/10 Major FEMA zone X (unshaded) · 74% 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 · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,812
• − Mortgage interest: −$7,837
• − Property taxes: −$3,376
• − Insurance: −$700
• − Repairs & maintenance: −$1,665
• − Management: −$1,665
• − Depreciation: −$4,070
• Taxable income: $1,500
• Est. tax owed @ 24.0%: −$360
• After-tax cash flow: $3,202/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: Mount Clemens Community School District
• NCES district ID: 2624690
• Math proficiency: 4% ▼ -9.00%
• Reading proficiency: 11% ▼ -7.00%
• Median HH income: $36,632
• Composite: 6.25/100
• National rank: #10005
• State rank: #532 of 540 in MI

Livability — Mount Clemens

• Score: 77/100
• State rank: #120
• US rank: #2918

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mount Clemens, MI
• County: Macomb County · 638,552 people
• City population: 15,429
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 15,429
• Household income: $52,161
• Rent vs Own: 40.2% rent · 59.8% own
• Severe rent burden: 610.0

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: Majority White (65%)
• Race & ethnicity: White 65% Black 22% Two or more races 10% Hispanic / Latino 4%
• Common ancestry: Romanian 10% Lithuanian 4% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · 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: ▼ -194.74%
• Current HPI: 260.7139
• Rent YoY: ▲ 10.82%
• 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

+254.2% since first listed

8 events — show timeline

• 2026-05-29 Listed $139,900 REALCOMP
• 2026-05-29 Listed $139,900 MiRealSource-MiMLS
• 2016-03-28 Sold (MLS) $35,000 MiRealSource-MiMLS
• 2016-03-28 Sold (MLS) $35,000 REALCOMP
• 2016-03-19 Pending — REALCOMP
• 2016-03-18 Listing Removed — MiRealSource-MiMLS
• 2016-03-10 Listed $39,500 REALCOMP
• 2016-03-10 Listed $39,500 MiRealSource-MiMLS

Property tax history

+11.0%/yr

Latest (2025): $3,376 · +0.9% YoY. Source: county tax records.