22923 Gary Ln · St. Clair Shores, MI 48080

$165,000

2 bd · 1.5 ba · 1,624 sqft · Condo · 48 Days on market

Built 1948 Good condition $102/sqft · 6% below area Est $175k · 6% under $285/mo HOA · 14% 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 +20.7/30.0
• ARV discount +10.1/15.0
• 1% rule +7.7/10.0
• DSCR +6.6/10.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Experience refined condo living in the sought-after Lakeshore Village community. This beautifully maintained 2-bedroom, 2 bath condo showcases hardwood flooring throughout, an updated bathroom, and a thoughtfully renovated eat-in kitchen designed for both style and functionality. The finished lower level adds valuable living space, complete with a convenient half bath - perfect for guests, a home office, or a cozy retreat. Residents enjoy exclusive access to a private community pool, enhancing the lifestyle this community has to offer. Ideally located just minutes from Lake St. Clair, scenic parks, and the vibrant Nautical Mile's dining and entertainment scene, this home blends comfort, convenience, and lifestyle in one exceptional offering. (Back on market - buyer got cold feet. )

Key facts

• $285 HOA
• Built 1948
• Listed 48 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $165k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $224 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $165k).
• Recommended offer: $160k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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 C — 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; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 10d on market — plan ~1-2 weeks tenant-placement turnaround); 1,321 units permitted in Macomb County in 2024 (86 in 5+ unit buildings).
• This rent runs 37% of the median local income ($67k/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 $1k of loan paydown is wiped out by about $5k 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 48 days — a 3% lower offer ($160k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 27y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $94k; list at $165k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $160,050 (3.0% below list)

Questions for the listing agent

1. It's been on market 48 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — 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. 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 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: 1.27% ✓
• Cap rate: 7.93%
• Cash-on-cash: 5.83%
• DSCR: 1.26
• GRM: 6.6

CMA / ARV

• ARV (median comp): $175,000
• List price: $165,000
• Delta: -5.71%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -7.2%
• Equity multiple: 0.74×
• Total profit: $-12,236
• Equity at exit: $24,602

10-year hold

• IRR: 2.6%
• Equity multiple: 1.19×
• Total profit: $8,592
• Equity at exit: $14,266

Cash invested: $46,200 (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 48080

• Active inventory: 161
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $2,088 high
• Mortgage (P&I): −$865
• Tax est. 1.5%: −$206 /mo · $2,475/yr
• Insurance: −$69
• HOA: −$285
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $224

Break-even live

Break-even rent $1,804

Max offer price $165,000

Occupancy floor 84%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22126 Alger St Saint Clair Shores, MI	2.0	1.5	1060	$1,750	$1.65	10d	1	1.09mi
1423 Hollywood Ave Grosse Pointe Woods, MI	2.0	1.5	2050	$2,100	$1.02	1d	1	1.18mi
1150 Anita Ave Grosse Pointe Woods, MI	3.0	1.5	1829	$2,600	$1.42	43d	1	1.19mi
1150 Anita Ave Grosse Pointe Woods, MI	3.0	1.5	1129	$2,600	$2.30	10d	1	1.19mi
22464 Beach St Saint Clair Shores, MI	2.0	1.5	1316	$2,300	$1.75	1d	1	1.44mi

HOA detail condo

• Monthly dues: $285 · $3,420/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-06-18
   days on market $165,000 Active 48 DOM
2. 2026-06-17
   days on market $165,000 Active 47 DOM
3. 2026-06-16
   days on market $165,000 Active 46 DOM
4. 2026-06-15
   remarks 699-char remark
5. 2026-06-15
   days on market $165,000 Active 45 DOM
6. 2026-06-13
   days on market $165,000 Active 43 DOM
7. 2026-06-13
   days on market $165,000 Active 42 DOM
8. 2026-06-09
   days on market $165,000 Active 39 DOM
9. 2026-06-08
   days on market $165,000 Active 38 DOM
10. 2026-06-07
    pricedays on market $165,000 Active 37 DOM
11. 2026-06-04
    days on market $170,000 Active 34 DOM
12. 2026-06-03
    days on market $170,000 Active 33 DOM
13. 2026-06-02
    days on market $170,000 Active 32 DOM
14. 2026-06-01
    days on market $170,000 Active 31 DOM
15. 2026-05-31
    days on market $170,000 Active 30 DOM
16. 2026-05-11
    price $170,000 792-char remark

    Show marketing remark (798 chars)

    Experience refined condo living in the sought-after Lakeshore Village community. This beautifully maintained 2-bedroom, 2 bath condo showcases hardwood flooring throughout, an updated bathroom, and a thoughtfully renovated eat-in kitchen designed for both style and functionality. The finished lower level adds valuable living space, complete with a convenient half bath - perfect for guests, a home office, or a cozy retreat. Residents enjoy exclusive access to a private community pool, enhancing the lifestyle this community has to offer. Ideally located just minutes from Lake St. Clair, scenic parks, and the vibrant Nautical Mile’s dining and entertainment scene, this home blends comfort, convenience, and lifestyle in one exceptional offering. (Back on market - buyer got cold feet. )

17. 2026-05-11
    price $170,000 798-char remark

    Show marketing remark (798 chars)

    Experience refined condo living in the sought-after Lakeshore Village community. This beautifully maintained 2-bedroom, 2 bath condo showcases hardwood flooring throughout, an updated bathroom, and a thoughtfully renovated eat-in kitchen designed for both style and functionality. The finished lower level adds valuable living space, complete with a convenient half bath - perfect for guests, a home office, or a cozy retreat. Residents enjoy exclusive access to a private community pool, enhancing the lifestyle this community has to offer. Ideally located just minutes from Lake St. Clair, scenic parks, and the vibrant Nautical Mile’s dining and entertainment scene, this home blends comfort, convenience, and lifestyle in one exceptional offering. (Back on market - buyer got cold feet. )

18. 2026-05-08
    status Active 798-char remark

    Show marketing remark (792 chars)

    Experience refined condo living in the sought-after Lakeshore Village community. This beautifully maintained 2-bedroom, 2 bath condo showcases hardwood flooring throughout, an updated bathroom, and a thoughtfully renovated eat-in kitchen designed for both style and functionality. The finished lower level adds valuable living space, complete with a convenient half bath - perfect for guests, a home office, or a cozy retreat. Residents enjoy exclusive access to a private community pool, enhancing the lifestyle this community has to offer. Ideally located just minutes from Lake St. Clair, scenic parks, and the vibrant Nautical Mile's dining and entertainment scene, this home blends comfort, convenience, and lifestyle in one exceptional offering. (Back on market - buyer got cold feet. )

19. 2026-05-08
    status Active 792-char remark

    Show marketing remark (792 chars)

    Experience refined condo living in the sought-after Lakeshore Village community. This beautifully maintained 2-bedroom, 2 bath condo showcases hardwood flooring throughout, an updated bathroom, and a thoughtfully renovated eat-in kitchen designed for both style and functionality. The finished lower level adds valuable living space, complete with a convenient half bath - perfect for guests, a home office, or a cozy retreat. Residents enjoy exclusive access to a private community pool, enhancing the lifestyle this community has to offer. Ideally located just minutes from Lake St. Clair, scenic parks, and the vibrant Nautical Mile's dining and entertainment scene, this home blends comfort, convenience, and lifestyle in one exceptional offering. (Back on market - buyer got cold feet. )

20. 2026-05-01
    status Pending 792-char remark

    Show marketing remark (798 chars)

    Experience refined condo living in the sought-after Lakeshore Village community. This beautifully maintained 2-bedroom, 2 bath condo showcases hardwood flooring throughout, an updated bathroom, and a thoughtfully renovated eat-in kitchen designed for both style and functionality. The finished lower level adds valuable living space, complete with a convenient half bath - perfect for guests, a home office, or a cozy retreat. Residents enjoy exclusive access to a private community pool, enhancing the lifestyle this community has to offer. Ideally located just minutes from Lake St. Clair, scenic parks, and the vibrant Nautical Mile’s dining and entertainment scene, this home blends comfort, convenience, and lifestyle in one exceptional offering. (Back on market - buyer got cold feet. )

21. 2026-05-01
    status Pending 798-char remark

    Show marketing remark (798 chars)

    Experience refined condo living in the sought-after Lakeshore Village community. This beautifully maintained 2-bedroom, 2 bath condo showcases hardwood flooring throughout, an updated bathroom, and a thoughtfully renovated eat-in kitchen designed for both style and functionality. The finished lower level adds valuable living space, complete with a convenient half bath - perfect for guests, a home office, or a cozy retreat. Residents enjoy exclusive access to a private community pool, enhancing the lifestyle this community has to offer. Ideally located just minutes from Lake St. Clair, scenic parks, and the vibrant Nautical Mile’s dining and entertainment scene, this home blends comfort, convenience, and lifestyle in one exceptional offering. (Back on market - buyer got cold feet. )

22. 2026-04-24
    listed $175,000 Active 792-char remark

    Show marketing remark (798 chars)

    Experience refined condo living in the sought-after Lakeshore Village community. This beautifully maintained 2-bedroom, 2 bath condo showcases hardwood flooring throughout, an updated bathroom, and a thoughtfully renovated eat-in kitchen designed for both style and functionality. The finished lower level adds valuable living space, complete with a convenient half bath - perfect for guests, a home office, or a cozy retreat. Residents enjoy exclusive access to a private community pool, enhancing the lifestyle this community has to offer. Ideally located just minutes from Lake St. Clair, scenic parks, and the vibrant Nautical Mile’s dining and entertainment scene, this home blends comfort, convenience, and lifestyle in one exceptional offering. (Back on market - buyer got cold feet. )

23. 2026-04-24
    listed $175,000 Active 798-char remark

    Show marketing remark (798 chars)

    Experience refined condo living in the sought-after Lakeshore Village community. This beautifully maintained 2-bedroom, 2 bath condo showcases hardwood flooring throughout, an updated bathroom, and a thoughtfully renovated eat-in kitchen designed for both style and functionality. The finished lower level adds valuable living space, complete with a convenient half bath - perfect for guests, a home office, or a cozy retreat. Residents enjoy exclusive access to a private community pool, enhancing the lifestyle this community has to offer. Ideally located just minutes from Lake St. Clair, scenic parks, and the vibrant Nautical Mile’s dining and entertainment scene, this home blends comfort, convenience, and lifestyle in one exceptional offering. (Back on market - buyer got cold feet. )

24. 2026-04-21
    historical $175,000 792-char remark

    Show marketing remark (792 chars)

    Experience refined condo living in the sought-after Lakeshore Village community. This beautifully maintained 2-bedroom, 2 bath condo showcases hardwood flooring throughout, an updated bathroom, and a thoughtfully renovated eat-in kitchen designed for both style and functionality. The finished lower level adds valuable living space, complete with a convenient half bath - perfect for guests, a home office, or a cozy retreat. Residents enjoy exclusive access to a private community pool, enhancing the lifestyle this community has to offer. Ideally located just minutes from Lake St. Clair, scenic parks, and the vibrant Nautical Mile's dining and entertainment scene, this home blends comfort, convenience, and lifestyle in one exceptional offering. (Back on market - buyer got cold feet. )

25. 2019-08-05
    soldstatus $94,000 Sold
26. 2019-08-05
    soldstatus $94,000 Closed
27. 2019-06-25
    status Pending
28. 2019-06-25
    status Pending
29. 2019-06-03
    listed $97,900 Active
30. 2019-06-03
    listed $97,900 Active
31. 1999-11-23
    soldstatus $89,000
32. 1999-10-18
    historical
33. 1999-09-27
    listed $89,700

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 67% 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: $25,059
• − Mortgage interest: −$9,243
• − Property taxes: −$2,475
• − Insurance: −$825
• − Repairs & maintenance: −$2,005
• − Management: −$2,005
• − HOA: −$3,420
• − Depreciation: −$4,800
• Taxable income: $287
• Est. tax owed @ 24.0%: −$69
• After-tax cash flow: $2,624/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

Good 80/100 Cosmetic rehab

This well-maintained 2-bedroom, 2-bath condo in the Lakeshore Village community is ready for new owners. It features updated kitchens and baths, hardwood flooring, and a finished lower level with a half bath. The exterior is in good condition, and the property is move-in ready.

Value-add opportunities

• Resale paint exterior — enhances curb appeal and value
• Rental replace carpet — improves comfort and reduces maintenance costs

Renovation cost estimate screening

Value-add ROI direction

• Resale paint exterior — enhances curb appeal and value ↑
• Rental replace carpet — improves comfort and reduces maintenance costs ↑

ⓘ 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: 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

+89.5% since first listed

18 events — show timeline

• 2026-05-11 Price Changed $170,000 MiRealSource-MiMLS
• 2026-05-11 Price Changed $170,000 REALCOMP
• 2026-05-08 Relisted — REALCOMP
• 2026-05-08 Relisted — MiRealSource-MiMLS
• 2026-05-01 Pending — MiRealSource-MiMLS
• 2026-05-01 Pending — REALCOMP
• 2026-04-24 Listed $175,000 MiRealSource-MiMLS
• 2026-04-24 Listed $175,000 REALCOMP
• 2026-04-21 Coming Soon $175,000 MiRealSource-MiMLS
• 2019-08-05 Sold (MLS) $94,000 MiRealSource-MiMLS
• 2019-08-05 Sold (MLS) $94,000 REALCOMP
• 2019-06-25 Pending — MiRealSource-MiMLS
• 2019-06-25 Pending — REALCOMP
• 2019-06-03 Listed $97,900 MiRealSource-MiMLS
• 2019-06-03 Listed $97,900 REALCOMP
• 1999-11-23 Sold (MLS) $89,000 MiRealSource-MiMLS
• 1999-10-18 Listing Removed — MiRealSource-MiMLS
• 1999-09-27 Listed $89,700 MiRealSource-MiMLS