21123 Chateau Thierry Dr N · Macomb, MI 48044

$90,000

4 bd · 2.0 ba · 1,600 sqft · Manufactured · 177 Days on market

Built 2021 Fair condition $56/sqft · 133% above area $500/mo HOA · 19% of rent ↓ 31% 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
• Schools +4.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a charming 4 Bed 2 Bath 1600sqft manufactured home with a shed and clubhouse amenities available for the residents.

Key facts

• Shed
• Steady cash flow
• Desirable location

Tags

• TURNKEY RENTAL INCOME PROPERTY
• STEADY CASH FLOW
• LOW OPERATING EXPENSES
• DESIRABLE LOCATION
• SHED
• CLUBHOUSE AMENITIES

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath manufactured listed at $90k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $926 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Chippewa Valley Schools (suburban): math 39% / reading 50% proficiency, ranked #133 of 540 in MI (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 261 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 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 $622 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 177 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $55k (38%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $79,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 177 days. Have you received any prior offers? Is the seller open to a 12% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 2.88% ✓
• Cap rate: 18.63%
• Cash-on-cash: 44.08%
• DSCR: 2.96
• GRM: 2.9

CMA / ARV

• ARV (median comp): $38,603
• List price: $90,000
• Delta: 133.14%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21548 Clochette Dr	0.46mi	4/2.0	1,456 (-9%)	8mo	$11,000	$8	57

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 41.2%
• Equity multiple: 2.77×
• Total profit: $44,715
• Equity at exit: $13,419

10-year hold

• IRR: 47.5%
• Equity multiple: 5.61×
• Total profit: $116,256
• Equity at exit: $7,782

Cash invested: $25,200 (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 48044

• Active inventory: 261
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $2,592 medium
• Mortgage (P&I): −$472
• Tax est. 1.5%: −$112 /mo · $1,350/yr
• Insurance: −$38
• HOA: −$500
• Vacancy / Maint / Mgmt: −$544
• Net cashflow: $926

Break-even live

Break-even rent $1,420

Max offer price $90,000

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
45301 Chateau Thierry Blvd Macomb, MI	1.0–4.0	1.0–2.0	1092	$1,779	$1.63	1d	1	0.55mi

HOA detail

• Monthly dues: $500 · $6,000/yr

Listing history 29 events

1. 2026-06-18
   days on market $90,000 Active 177 DOM
2. 2026-06-17
   days on market $90,000 Active 176 DOM
3. 2026-06-16
   days on market $90,000 Active 175 DOM
4. 2026-06-15
   days on market $90,000 Active 174 DOM
5. 2026-06-13
   days on market $90,000 Active 172 DOM
6. 2026-06-13
   days on market $90,000 Active 171 DOM
7. 2026-06-09
   pricedays on market $90,000 Active 168 DOM
8. 2026-06-08
   days on market $100,000 Active 167 DOM
9. 2026-06-07
   days on market $100,000 Active 166 DOM
10. 2026-06-04
    days on market $100,000 Active 163 DOM
11. 2026-06-03
    days on market $100,000 Active 162 DOM
12. 2026-06-02
    days on market $100,000 Active 161 DOM
13. 2026-06-01
    days on market $100,000 Active 160 DOM
14. 2026-05-31
    days on market $100,000 Active 159 DOM
15. 2026-03-20
    price $100,000 123-char remark

    Show marketing remark (123 chars)

    This is a charming 4 Bed 2 Bath 1600sqft manufactured home with a shed and clubhouse amenities available for the residents.

16. 2026-03-20
    price $100,000 123-char remark

    Show marketing remark (123 chars)

    This is a charming 4 Bed 2 Bath 1600sqft manufactured home with a shed and clubhouse amenities available for the residents.

17. 2026-03-20
    price $100,000

    Show marketing remark (123 chars)

    This is a charming 4 Bed 2 Bath 1600sqft manufactured home with a shed and clubhouse amenities available for the residents.

18. 2026-02-20
    price $110,000 123-char remark

    Show marketing remark (123 chars)

    This is a charming 4 Bed 2 Bath 1600sqft manufactured home with a shed and clubhouse amenities available for the residents.

19. 2026-02-20
    price $110,000 123-char remark

    Show marketing remark (123 chars)

    This is a charming 4 Bed 2 Bath 1600sqft manufactured home with a shed and clubhouse amenities available for the residents.

20. 2026-02-20
    price $110,000

    Show marketing remark (123 chars)

    This is a charming 4 Bed 2 Bath 1600sqft manufactured home with a shed and clubhouse amenities available for the residents.

21. 2026-01-20
    price $125,000 123-char remark

    Show marketing remark (123 chars)

    This is a charming 4 Bed 2 Bath 1600sqft manufactured home with a shed and clubhouse amenities available for the residents.

22. 2026-01-20
    price $125,000 123-char remark

    Show marketing remark (123 chars)

    This is a charming 4 Bed 2 Bath 1600sqft manufactured home with a shed and clubhouse amenities available for the residents.

23. 2026-01-20
    price $125,000

    Show marketing remark (123 chars)

    This is a charming 4 Bed 2 Bath 1600sqft manufactured home with a shed and clubhouse amenities available for the residents.

24. 2026-01-05
    price $135,000 123-char remark

    Show marketing remark (123 chars)

    This is a charming 4 Bed 2 Bath 1600sqft manufactured home with a shed and clubhouse amenities available for the residents.

25. 2026-01-05
    price $135,000 123-char remark

    Show marketing remark (123 chars)

    This is a charming 4 Bed 2 Bath 1600sqft manufactured home with a shed and clubhouse amenities available for the residents.

26. 2026-01-05
    price $135,000

    Show marketing remark (123 chars)

    This is a charming 4 Bed 2 Bath 1600sqft manufactured home with a shed and clubhouse amenities available for the residents.

27. 2025-12-22
    listed $145,000 Active 123-char remark

    Show marketing remark (123 chars)

    This is a charming 4 Bed 2 Bath 1600sqft manufactured home with a shed and clubhouse amenities available for the residents.

28. 2025-12-22
    listed $145,000 Active 123-char remark

    Show marketing remark (123 chars)

    This is a charming 4 Bed 2 Bath 1600sqft manufactured home with a shed and clubhouse amenities available for the residents.

29. 2025-12-22
    listed $145,000 Active

    Show marketing remark (123 chars)

    This is a charming 4 Bed 2 Bath 1600sqft manufactured home with a shed and clubhouse amenities available for the residents.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $31,103
• − Mortgage interest: −$5,041
• − Property taxes: −$1,350
• − Insurance: −$450
• − Repairs & maintenance: −$2,488
• − Management: −$2,488
• − HOA: −$6,000
• − Depreciation: −$2,618
• Taxable income: $10,667
• Est. tax owed @ 24.0%: −$2,560
• After-tax cash flow: $8,547/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 · 2 photos

Fair 40/100 Moderate rehab

This manufactured home requires significant repairs and maintenance to improve its condition and value. Immediate attention to the exterior, interior, and HVAC is recommended.

Repairs flagged

• Major siding — Significant wear and tear
• Major roof — No visible damage, but siding condition suggests underlying issues
• Major flooring — No visible flooring, but siding condition suggests underlying issues
• Major interior walls/paint — No visible interior, but siding condition suggests underlying issues
• Major windows — No visible windows, but siding condition suggests underlying issues
• Major foundation/structure — No visible foundation, but siding condition suggests underlying issues
• Major HVAC/mechanicals — No visible HVAC/mechanicals, but siding condition suggests underlying issues
• Major landscaping — Overgrown grass and debris

Value-add opportunities

• Both repair and paint exterior — Enhances curb appeal and value
• Both repair and paint interior — Improves living space and value
• Both repair and replace windows — Enhances energy efficiency and value
• Both repair and replace HVAC — Improves comfort and value
• Both landscaping and curb appeal — Enhances curb appeal and value

Renovation cost estimate screening

Repair item	Severity	Est. cost
siding · Significant wear and tear	Major	$15,000–50,000
roof · No visible damage, but siding condition suggests underlying issues	Major	$15,000–50,000
flooring · No visible flooring, but siding condition suggests underlying issues	Major	$15,000–50,000
interior walls/paint · No visible interior, but siding condition suggests underlying issues	Major	$15,000–50,000
windows · No visible windows, but siding condition suggests underlying issues	Major	$15,000–50,000
foundation/structure · No visible foundation, but siding condition suggests underlying issues	Major	$15,000–50,000
HVAC/mechanicals · No visible HVAC/mechanicals, but siding condition suggests underlying issues	Major	$15,000–50,000
landscaping · Overgrown grass and debris	Major	$15,000–50,000
Total estimated repair cost · 8 items		$120,000–400,000

Value-add ROI direction

• Both repair and paint exterior — Enhances curb appeal and value ↑
• Both repair and paint interior — Improves living space and value ↑
• Both repair and replace windows — Enhances energy efficiency and value ↑
• Both repair and replace HVAC — Improves comfort and value ↑
• Both landscaping and curb appeal — Enhances curb appeal and value ↑

ⓘ 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: Chippewa Valley Schools
• NCES district ID: 2609570
• Math proficiency: 39% ▼ -10.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $64,964
• Composite: 39.61/100
• National rank: #3922
• State rank: #133 of 540 in MI

Livability — Macomb

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

Census & demographics

• County: Macomb County · 638,552 people
• City population: 58,754
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 58,754
• Household income: $117,856
• Rent vs Own: 11.1% rent · 88.9% own
• Severe rent burden: 223.0

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 (84%)
• Race & ethnicity: White 84% Black 6% Two or more races 4% Asian 4% Hispanic / Latino 3%
• Common ancestry: Romanian 14% Lithuanian 3% Slovak 2%
• Foreign-born: 11% · Canada, China
• Languages at home: 84% English-only · Other Indo-European 5% Russian/Polish/Slavic 3% Arabic 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: ▼ -204.17%
• Current HPI: 221.35
• 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

-31.0% since first listed

15 events — show timeline

• 2026-03-20 Price Changed $100,000 MiRealSource-MiMLS
• 2026-03-20 Price Changed $100,000 REALCOMP
• 2026-03-20 Price Changed $100,000 SW Michigan MLS
• 2026-02-20 Price Changed $110,000 MiRealSource-MiMLS
• 2026-02-20 Price Changed $110,000 REALCOMP
• 2026-02-20 Price Changed $110,000 SW Michigan MLS
• 2026-01-20 Price Changed $125,000 MiRealSource-MiMLS
• 2026-01-20 Price Changed $125,000 REALCOMP
• 2026-01-20 Price Changed $125,000 SW Michigan MLS
• 2026-01-05 Price Changed $135,000 MiRealSource-MiMLS
• 2026-01-05 Price Changed $135,000 REALCOMP
• 2026-01-05 Price Changed $135,000 SW Michigan MLS
• 2025-12-22 Listed $145,000 SW Michigan MLS
• 2025-12-22 Listed $145,000 REALCOMP
• 2025-12-22 Listed $145,000 MiRealSource-MiMLS