3911 Fort St · Trenton, MI 48183

$64,900

1 bd · 1.0 ba · 709 sqft · Condo · 13 Days on market

Built 1967 Fair condition $20/mo HOA · 2% of rent ↓ 6% since listing

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +4.4/5.0
• Schools +4.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this well maintained 1 bedroom, 1 bath condo located in the desirable Trenton Village community. This second-floor unit offers a comfortable and functional layout with plenty of natural light throughout. Enjoy low-maintenance living with association dues that typically include heat, water, and exterior maintenance. Conveniently located near shopping, dining, and major roadways along Fort Street.

Key facts

• Near dining
• Near shopping
• Natural light

Tags

• NATURAL LIGHT
• LOW-MAINTENANCE LIVING
• NEAR SHOPPING
• NEAR DINING
• NEAR MAJOR ROADWAYS

Property features AI

Finance

• Other: Condominium residential property; Above-grade finished area reported (709 square feet)
• Financial info: Annual tax amount reported
• HOA & community: Homeowners association with an annual fee of $235 (about $19.58/month)

Exterior

• Utilities: Public water; Public sewer
• Home design: One-story condominium; Brick and vinyl siding exterior
• Construction: Brick and vinyl siding construction; One level
• Exterior features: Small lot (approximately 0.01 acre)

Interior

• Bedrooms: 3 total rooms (includes bedrooms and living areas)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Basement

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $65k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $394 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Cap rate 13.6% vs local median 4.1% in Trenton — 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 88/100 on livability (#15 in MI, #250 nationally) — a professional / high-income tenant draw. Strengths: crime A+, cost of living A+, housing A+.
• Trenton Public Schools (suburban): math 44% / reading 53% proficiency, ranked #109 of 540 in MI (top 20%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 171 active listings in the ZIP; 1 comparable units currently listed for rent nearby; solid renter incomes; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent is only 16% of the median local income ($84k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 39 sale attempts since 28y 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.

Recommended offer $64,900

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 1967 — 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 B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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: 1.68% ✓
• Cap rate: 13.58%
• Cash-on-cash: 26.01%
• DSCR: 2.16
• GRM: 5.0

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: 19.7%
• Equity multiple: 1.80×
• Total profit: $14,602
• Equity at exit: $9,677

10-year hold

• IRR: 28.0%
• Equity multiple: 3.48×
• Total profit: $45,138
• Equity at exit: $5,611

Cash invested: $18,172 (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 48183

• Active inventory: 171
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,092 medium
• Mortgage (P&I): −$340
• Tax est. 1.5%: −$81 /mo · $974/yr
• Insurance: −$27
• HOA: −$20
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $394

Break-even live

Break-even rent $593

Max offer price $64,900

Occupancy floor 59%

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3854 Fort St Unit 3 Trenton, MI	1.0	1.0	600	$925	$1.54	2d	1	0.11mi

HOA detail condo

• Monthly dues: $20 · $240/yr
• Likely covers: waterexterior maint.
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-04-30
   status Pending

   Show marketing remark (409 chars)

   Welcome to this well maintained 1 bedroom, 1 bath condo located in the desirable Trenton Village community. This second-floor unit offers a comfortable and functional layout with plenty of natural light throughout. Enjoy low-maintenance living with association dues that typically include heat, water, and exterior maintenance. Conveniently located near shopping, dining, and major roadways along Fort Street.

2. 2026-04-30
   status Pending 409-char remark

   Show marketing remark (409 chars)

   Welcome to this well maintained 1 bedroom, 1 bath condo located in the desirable Trenton Village community. This second-floor unit offers a comfortable and functional layout with plenty of natural light throughout. Enjoy low-maintenance living with association dues that typically include heat, water, and exterior maintenance. Conveniently located near shopping, dining, and major roadways along Fort Street.

3. 2026-04-17
   listed $64,900 Active

   Show marketing remark (409 chars)

   Welcome to this well maintained 1 bedroom, 1 bath condo located in the desirable Trenton Village community. This second-floor unit offers a comfortable and functional layout with plenty of natural light throughout. Enjoy low-maintenance living with association dues that typically include heat, water, and exterior maintenance. Conveniently located near shopping, dining, and major roadways along Fort Street.

4. 2026-04-17
   listed $64,900 Active 409-char remark

   Show marketing remark (409 chars)

   Welcome to this well maintained 1 bedroom, 1 bath condo located in the desirable Trenton Village community. This second-floor unit offers a comfortable and functional layout with plenty of natural light throughout. Enjoy low-maintenance living with association dues that typically include heat, water, and exterior maintenance. Conveniently located near shopping, dining, and major roadways along Fort Street.

5. 2026-02-27
   soldstatus $70,000 Closed 543-char remark

   Show marketing remark (543 chars)

   This second floor ranch condo features attractive manufactured wood flooring throughout, with ceramic tiles in the bathrooms. The spacious primary bedroom includes a walk-in closet that also houses a compact washer. The second large bedroom is equipped with an appealing closet system. The kitchen comes fully equipped with all necessary appliances and has vertical window blinds for added privacy. Additionally, the basement offers a laundry facility along with a private storage unit in a shared area, enhancing convenience and functionality

6. 2026-01-29
   status Pending 543-char remark

   Show marketing remark (543 chars)

   This second floor ranch condo features attractive manufactured wood flooring throughout, with ceramic tiles in the bathrooms. The spacious primary bedroom includes a walk-in closet that also houses a compact washer. The second large bedroom is equipped with an appealing closet system. The kitchen comes fully equipped with all necessary appliances and has vertical window blinds for added privacy. Additionally, the basement offers a laundry facility along with a private storage unit in a shared area, enhancing convenience and functionality

7. 2026-01-24
   listed $79,900 Active 543-char remark

   Show marketing remark (543 chars)

   This second floor ranch condo features attractive manufactured wood flooring throughout, with ceramic tiles in the bathrooms. The spacious primary bedroom includes a walk-in closet that also houses a compact washer. The second large bedroom is equipped with an appealing closet system. The kitchen comes fully equipped with all necessary appliances and has vertical window blinds for added privacy. Additionally, the basement offers a laundry facility along with a private storage unit in a shared area, enhancing convenience and functionality

8. 2021-11-16
   soldstatus $52,500 Sold
9. 2021-11-08
   status Pending
10. 2021-09-27
    listed $62,500 Active
11. 2021-09-17
    soldstatus $62,000 Sold
12. 2021-08-30
    status Pending
13. 2021-08-23
    price $64,900
14. 2021-08-05
    listed $69,900 Active
15. 2019-11-27
    soldstatus $37,000 Sold
16. 2019-11-27
    soldstatus $37,000 Closed
17. 2019-11-24
    historical
18. 2019-10-24
    historical
19. 2019-10-24
    historical
20. 2019-10-20
    listed $37,000
21. 2019-10-20
    listed $37,000
22. 2019-09-20
    price $50,000
23. 2019-09-06
    soldstatus $35,000 Sold
24. 2019-09-06
    soldstatus $35,000 Closed
25. 2019-08-23
    listed $56,900 Active
26. 2019-07-14
    status Pending
27. 2019-07-14
    listed $35,000 Active
28. 2019-07-14
    listed $35,000
29. 2019-07-14
    historical
30. 2019-07-12
    soldstatus $32,500 Sold
31. 2019-07-12
    soldstatus $32,500 Closed
32. 2019-06-26
    status Pending
33. 2019-06-26
    status Pending
34. 2019-06-22
    listed $29,900 Active
35. 2019-06-22
    listed $29,900 Active
36. 2015-12-07
    historical
37. 2015-11-17
    listed $24,900
38. 2013-12-10
    historical
39. 2013-12-10
    historical
40. 2013-10-11
    listed $41,900
41. 2013-10-11
    listed $41,900
42. 2010-04-25
    historical
43. 2010-02-21
    listed $15,000
44. 2009-06-10
    historical
45. 2009-03-10
    listed $45,900
46. 2009-02-04
    historical
47. 2008-11-04
    listed $45,900
48. 2008-04-07
    soldstatus $25,000
49. 2008-04-07
    soldstatus $25,000
50. 2008-03-07
    historical

ⓘ 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 ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,100
• − Mortgage interest: −$3,635
• − Property taxes: −$974
• − Insurance: −$324
• − Repairs & maintenance: −$1,048
• − Management: −$1,048
• − HOA: −$240
• − Depreciation: −$1,888
• Taxable income: $3,943
• Est. tax owed @ 24.0%: −$946
• After-tax cash flow: $3,781/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 · 11 photos

Fair 45/100 Cosmetic rehab

This well-maintained 1-bedroom condo in Trenton Village offers a comfortable layout with hardwood floors and natural light. Minor repairs and updates to paint and blinds would significantly enhance its value.

Repairs flagged

• Minor Paint — Paint appears worn in interior walls
• Minor Blinds — Blinds present, but not new

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Both Replace blinds — New blinds improve privacy and aesthetics
• Both Replace ceiling fans — Modern fans improve air circulation and aesthetics

Renovation cost estimate screening

Repair item	Severity	Est. cost
Paint · Paint appears worn in interior walls	Minor	$500–3,000
Blinds · Blinds present, but not new	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Both Replace blinds — New blinds improve privacy and aesthetics ↑
• Both Replace ceiling fans — Modern fans improve air circulation and 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: Trenton Public Schools
• NCES district ID: 2633900
• Math proficiency: 44% ▼ -7.00%
• Reading proficiency: 53% ▼ -2.00%
• Median HH income: $55,947
• Composite: 42.08/100
• National rank: #3321
• State rank: #109 of 540 in MI

Livability — Trenton

• Score: 88/100
• State rank: #15
• US rank: #250

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Trenton, MI
• County: Wayne County · 1,562,939 people
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 41,765
• Household income: $83,508
• Rent vs Own: 23.8% rent · 76.2% own
• Severe rent burden: 836.0

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 1,675,273 people
• By 2030: 1,620,300 · -3.3%
• By 2040: 1,502,341 · -10.3%
• By 2050: 1,384,039 · -17.4%
• By 2075: 1,124,592 · -32.9%
• By 2100: 881,193 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 6% Black 5% Two or more races 5% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 15% Lithuanian 4% Slovak 2%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Other Indo-European 3% Spanish 2%

Political lean MEDSL · Wayne

• 2024 margin: Strong D (+29.0) · D 62.7% · R 33.7% · Other 3.6%
• 2008→2024 swing: -20.5pp toward R · 2008: 49.5pp · 2024: 29.0pp
• All cycles: 2024: D+29.0 2020: D+38.1 2016: D+37.3 2012: D+46.9 2008: D+49.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -222.34%
• Current HPI: 216.3623
• 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

-5.9% since first listed

90 events — show timeline

• 2026-04-30 Pending — REALCOMP
• 2026-04-30 Pending — MiRealSource-MiMLS
• 2026-04-17 Listed $64,900 MiRealSource-MiMLS
• 2026-04-17 Listed $64,900 REALCOMP
• 2026-02-27 Sold (MLS) $70,000 REALCOMP
• 2026-01-29 Pending — REALCOMP
• 2026-01-24 Listed $79,900 REALCOMP
• 2021-11-16 Sold (MLS) $52,500 REALCOMP
• 2021-11-08 Pending — REALCOMP
• 2021-09-27 Listed $62,500 REALCOMP
• 2021-09-17 Sold (MLS) $62,000 REALCOMP
• 2021-08-30 Pending — REALCOMP
• 2021-08-23 Price Changed $64,900 REALCOMP
• 2021-08-05 Listed $69,900 REALCOMP
• 2019-11-27 Sold (MLS) $37,000 MiRealSource-MiMLS
• 2019-11-27 Sold (MLS) $37,000 REALCOMP
• 2019-11-24 Listing Removed — REALCOMP
• 2019-10-24 Listing Removed — MiRealSource-MiMLS
• 2019-10-24 Listing Removed — REALCOMP
• 2019-10-20 Listed $37,000 MiRealSource-MiMLS
• 2019-10-20 Listed $37,000 REALCOMP
• 2019-09-20 Price Changed $50,000 REALCOMP
• 2019-09-06 Sold (MLS) $35,000 MiRealSource-MiMLS
• 2019-09-06 Sold (MLS) $35,000 REALCOMP
• 2019-08-23 Listed $56,900 REALCOMP
• 2019-07-14 Pending — REALCOMP
• 2019-07-14 Listing Removed — MiRealSource-MiMLS
• 2019-07-14 Listed $35,000 MiRealSource-MiMLS
• 2019-07-14 Listed $35,000 REALCOMP
• 2019-07-12 Sold (MLS) $32,500 MiRealSource-MiMLS
• 2019-07-12 Sold (MLS) $32,500 REALCOMP
• 2019-06-26 Pending — MiRealSource-MiMLS
• 2019-06-26 Pending — REALCOMP
• 2019-06-22 Listed $29,900 MiRealSource-MiMLS
• 2019-06-22 Listed $29,900 REALCOMP
• 2015-12-07 Listing Removed — REALCOMP
• 2015-11-17 Listed $24,900 REALCOMP
• 2013-12-10 Listing Removed — REALCOMP
• 2013-12-10 Listing Removed — MiRealSource-MiMLS
• 2013-10-11 Listed $41,900 REALCOMP
• 2013-10-11 Listed $41,900 MiRealSource-MiMLS
• 2010-04-25 Listing Removed — REALCOMP
• 2010-02-21 Listed $15,000 REALCOMP
• 2009-06-10 Listing Removed — REALCOMP
• 2009-03-10 Listed $45,900 REALCOMP
• 2009-02-04 Listing Removed — REALCOMP
• 2008-11-04 Listed $45,900 REALCOMP
• 2008-04-07 Sold (MLS) $25,000 REALCOMP
• 2008-04-07 Sold (MLS) $25,000 MiRealSource-MiMLS
• 2008-03-07 Listing Removed — MiRealSource-MiMLS
• 2007-12-23 Listed $25,000 REALCOMP
• 2007-12-23 Listed $25,000 MiRealSource-MiMLS
• 2006-09-22 Sold (MLS) $40,700 REALCOMP
• 2006-03-31 Listed $40,500 REALCOMP
• 2005-10-28 Sold (MLS) $58,900 REALCOMP
• 2005-09-17 Listed $58,900 REALCOMP
• 2005-07-26 Listing Removed — REALCOMP
• 2005-06-26 Listed $58,900 REALCOMP
• 2002-03-27 Sold (MLS) $65,000 REALCOMP
• 2001-12-28 Sold (MLS) $65,000 REALCOMP
• 2001-12-04 Listed $68,000 REALCOMP
• 2001-12-02 Listing Removed — REALCOMP
• 2001-12-01 Listing Removed — MiRealSource-MiMLS
• 2001-09-10 Listed $70,000 REALCOMP
• 2001-08-31 Listed $70,900 MiRealSource-MiMLS
• 2001-08-31 Listed $70,900 REALCOMP
• 2001-01-30 Sold (MLS) $49,000 REALCOMP
• 2001-01-30 Sold (MLS) $49,000 MiRealSource-MiMLS
• 2000-10-10 Sold (MLS) $54,000 REALCOMP
• 2000-10-10 Sold (MLS) $54,000 MiRealSource-MiMLS
• 2000-09-28 Listed $49,900 REALCOMP
• 2000-09-28 Listed $49,900 MiRealSource-MiMLS
• 2000-08-28 Sold (MLS) $48,000 REALCOMP
• 2000-08-28 Sold (MLS) $48,000 MiRealSource-MiMLS
• 2000-07-21 Listed $59,900 REALCOMP
• 2000-07-21 Listed $59,900 MiRealSource-MiMLS
• 2000-07-16 Listed $52,900 REALCOMP
• 2000-07-16 Listed $52,900 MiRealSource-MiMLS
• 1999-12-10 Sold (MLS) $67,500 MiRealSource-MiMLS
• 1999-11-26 Sold (MLS) $49,000 REALCOMP
• 1999-11-26 Sold (MLS) $49,000 MiRealSource-MiMLS
• 1999-11-22 Sold (MLS) $48,000 MiRealSource-MiMLS
• 1999-10-07 Listed $72,000 MiRealSource-MiMLS
• 1999-09-02 Listed $49,900 REALCOMP
• 1999-09-02 Listed $49,900 MiRealSource-MiMLS
• 1999-08-30 Listed $48,500 MiRealSource-MiMLS
• 1999-06-04 Sold (MLS) $65,000 MiRealSource-MiMLS
• 1999-06-04 Sold (MLS) $65,000 REALCOMP
• 1998-11-10 Listed $69,000 MiRealSource-MiMLS
• 1998-11-10 Listed $69,000 REALCOMP