1617 S Riverside Ave C-18 #4 Ave · St. Clair, MI 48079

$115,000

2 bd · 1.0 ba · 800 sqft · Condo · 49 Days on market

Built 1970 $297/mo HOA · 16% of rent

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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 +27.2/30.0
• 1% rule +10.0/10.0
• DSCR +9.5/10.0
• ARV discount +7.5/15.0
• Schools +3.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice spacious updated two bedroom condominium in St Clair.

Key facts

• $297 HOA
• Built 1970
• Listed 49 days

Property features AI

Finance

• Other: 800 square feet of above-grade finished area; Subdivision listed as NA; Cross street at River Rd / Hathaway
• HOA & community: Homeowners association with a monthly fee of $297

Exterior

• Utilities: Public water; Public sewer
• Home design: Condominium residence; One-story
• Construction: Brick construction
• Exterior features: Brick construction

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Electric heating; Radiant heating; No cooling
• Interior features: Basement present; Two total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $330 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $112k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 1.9% in St. Clair — 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 B — affects rentability + tenant quality, not the cash-flow math above.
• East China School District (suburban): math 32% / reading 46% proficiency, ranked #208 of 540 in MI (top 38%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 93 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 232 units permitted in St. Clair County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• St. Clair County population projected at -20% 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 $32k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 39 sale attempts since 30y 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 $85k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $111,550 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 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 1970 — 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: 1.57% ✓
• Cap rate: 9.74%
• Cash-on-cash: 12.31%
• DSCR: 1.55
• GRM: 5.3

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: 2.1%
• Equity multiple: 1.08×
• Total profit: $2,609
• Equity at exit: $17,147

10-year hold

• IRR: 11.8%
• Equity multiple: 1.94×
• Total profit: $30,209
• Equity at exit: $9,943

Cash invested: $32,200 (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 48079

• Active inventory: 93
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $1,800 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$297
• Vacancy / Maint / Mgmt: −$378
• Net cashflow: $330

Break-even live

Break-even rent $1,382

Max offer price $115,000

Occupancy floor 77%

Sensitivity live

Price	-10% $410	-5% $370	+0% $330	+5% $291	+10% $251
Rent	-10% $188	-5% $259	+0% $330	+5% $401	+10% $472
Rate	-1.0pp $388	-0.5pp $360	base $330	+0.5pp $300	+1.0pp $270

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
322 Hathaway St East China, MI	2.0	1.0	875	$1,800	$2.06	45d	1	0.24mi

HOA detail condo

• Monthly dues: $297 · $3,564/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-21
   days on market $115,000 Active 49 DOM
2. 2026-06-21
   days on market $115,000 Active 48 DOM
3. 2026-06-18
   days on market $115,000 Active 46 DOM
4. 2026-06-17
   days on market $115,000 Active 45 DOM
5. 2026-06-16
   days on market $115,000 Active 44 DOM
6. 2026-06-15
   days on market $115,000 Active 43 DOM
7. 2026-06-13
   days on market $115,000 Active 41 DOM
8. 2026-06-12
   days on market $115,000 Active 40 DOM
9. 2026-06-09
   days on market $115,000 Active 37 DOM
10. 2026-06-08
    days on market $115,000 Active 36 DOM
11. 2026-06-07
    days on market $115,000 Active 35 DOM
12. 2026-06-07
    days on market $115,000 Active 34 DOM
13. 2026-06-04
    days on market $115,000 Active 31 DOM
14. 2026-06-02
    days on market $115,000 Active 30 DOM
15. 2026-06-01
    days on market $115,000 Active 29 DOM
16. 2026-05-31
    days on market $115,000 Active 28 DOM
17. 2026-05-31
    days on market $115,000 Active 27 DOM
18. 2026-05-21
    price $118,000 58-char remark

    Show marketing remark (58 chars)

    Nice spacious updated two bedroom condominium in St Clair.

19. 2026-05-21
    price $118,000

    Show marketing remark (58 chars)

    Nice spacious updated two bedroom condominium in St Clair.

20. 2026-05-18
    status Active

    Show marketing remark (58 chars)

    Nice spacious updated two bedroom condominium in St Clair.

21. 2026-05-18
    status Active 58-char remark

    Show marketing remark (58 chars)

    Nice spacious updated two bedroom condominium in St Clair.

22. 2026-04-16
    status Pending

    Show marketing remark (58 chars)

    Nice spacious updated two bedroom condominium in St Clair.

23. 2026-04-16
    status Pending 58-char remark

    Show marketing remark (58 chars)

    Nice spacious updated two bedroom condominium in St Clair.

24. 2026-04-01
    listed $120,000 Active

    Show marketing remark (58 chars)

    Nice spacious updated two bedroom condominium in St Clair.

25. 2026-04-01
    listed $120,000 Active 58-char remark

    Show marketing remark (58 chars)

    Nice spacious updated two bedroom condominium in St Clair.

26. 2024-11-13
    soldstatus $85,000 774-char remark

    Show marketing remark (774 chars)

    This affordable St. Clair condo features 640 square feet of living space with an updated kitchen and bath. The kitchen features newer cabinets, range/oven, refrigerator, dishwasher and ceramic floors. All appliances are included in the sale. The full bath has also been totally redone and features a ceramic steam shower with multiple shower heads. New wall mounted air conditioning unit in the living room. All common areas have been updated. The building is well maintained, clean and fresh. The Association fee of $189. per month includes heat, water, pest control, snow removal, landscaping, trash and the upkeep of the common areas. Additional private storage is assigned to each unit and a coin operated laundry are conveniently located in the basement. Move-In Ready!

27. 2024-09-10
    listed $85,000 774-char remark

    Show marketing remark (774 chars)

    This affordable St. Clair condo features 640 square feet of living space with an updated kitchen and bath. The kitchen features newer cabinets, range/oven, refrigerator, dishwasher and ceramic floors. All appliances are included in the sale. The full bath has also been totally redone and features a ceramic steam shower with multiple shower heads. New wall mounted air conditioning unit in the living room. All common areas have been updated. The building is well maintained, clean and fresh. The Association fee of $189. per month includes heat, water, pest control, snow removal, landscaping, trash and the upkeep of the common areas. Additional private storage is assigned to each unit and a coin operated laundry are conveniently located in the basement. Move-In Ready!

28. 2024-01-04
    soldstatus $81,500
29. 2024-01-04
    soldstatus $81,500 Closed
30. 2023-12-13
    status Pending
31. 2023-12-07
    listed $81,500
32. 2023-12-07
    listed $81,500 Active
33. 2023-11-17
    soldstatus $84,500 Closed
34. 2023-11-17
    soldstatus $84,500
35. 2023-11-01
    status Pending
36. 2023-10-30
    listed $84,500 Active
37. 2023-10-28
    historical $84,500
38. 2023-10-28
    listed $84,500
39. 2023-07-11
    soldstatus $70,000
40. 2023-06-08
    listed $84,900
41. 2018-10-02
    soldstatus $34,000 Closed
42. 2018-10-02
    soldstatus $34,000
43. 2018-09-10
    status Back on Market
44. 2018-08-27
    status Pending
45. 2018-08-17
    listed $39,900 Active
46. 2018-08-17
    historical
47. 2018-08-17
    listed $39,900
48. 2018-06-16
    listed $44,900
49. 2017-12-13
    historical
50. 2017-08-18
    listed $40,999

ⓘ 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 · 14 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,600
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,728
• − Management: −$1,728
• − HOA: −$3,564
• − Depreciation: −$3,345
• Taxable income: $2,493
• Est. tax owed @ 24.0%: −$598
• After-tax cash flow: $3,365/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: East China School District
• NCES district ID: 2612420
• Math proficiency: 32% ▼ -9.00%
• Reading proficiency: 46% ▼ -8.00%
• Median HH income: $56,455
• Composite: 34.23/100
• National rank: #5260
• State rank: #208 of 540 in MI

Livability — St. Clair

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

Census & demographics

• Census place: St. Clair, MI
• Population (ZIP): 12,683

Population outlook (St. Clair County) Hauer SSP2

• Today (2025): 154,587 people
• By 2030: 150,031 · -2.9%
• By 2040: 138,177 · -10.6%
• By 2050: 124,390 · -19.5%
• By 2075: 95,825 · -38.0%
• By 2100: 68,672 · -55.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Romanian 12% Lithuanian 7% Slovak 2%
• Foreign-born: 3% · Canada
• Languages at home: 97% English-only · Other Indo-European 1% Spanish 1%

Political lean MEDSL · St. Clair

• 2024 margin: Solid R (+34.6) · D 32.0% · R 66.6% · Other 1.4%
• 2008→2024 swing: -37.3pp toward R · 2008: 2.6pp · 2024: -34.6pp
• All cycles: 2024: R+34.6 2020: R+30.2 2016: R+31.4 2012: R+7.1 2008: D+2.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -127.23%
• Current HPI: 195.2392
• Rent YoY: —
• Metro: —
• 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

+210.5% since first listed

92 events — show timeline

• 2026-05-21 Price Changed $118,000 MiRealSource-MiMLS
• 2026-05-21 Price Changed $118,000 REALCOMP
• 2026-05-18 Relisted — REALCOMP
• 2026-05-18 Relisted — MiRealSource-MiMLS
• 2026-04-16 Pending — REALCOMP
• 2026-04-16 Pending — MiRealSource-MiMLS
• 2026-04-01 Listed $120,000 REALCOMP
• 2026-04-01 Listed $120,000 MiRealSource-MiMLS
• 2024-11-13 Sold (MLS) $85,000 REALCOMP
• 2024-09-10 Listed $85,000 REALCOMP
• 2024-01-04 Sold (MLS) $81,500 REALCOMP
• 2024-01-04 Sold (MLS) $81,500 MiRealSource-MiMLS
• 2023-12-13 Pending — MiRealSource-MiMLS
• 2023-12-07 Listed $81,500 REALCOMP
• 2023-12-07 Listed $81,500 MiRealSource-MiMLS
• 2023-11-17 Sold (MLS) $84,500 REALCOMP
• 2023-11-17 Sold (MLS) $84,500 MiRealSource-MiMLS
• 2023-11-01 Pending — MiRealSource-MiMLS
• 2023-10-30 Listed $84,500 MiRealSource-MiMLS
• 2023-10-28 Coming Soon $84,500 MiRealSource-MiMLS
• 2023-10-28 Listed $84,500 REALCOMP
• 2023-07-11 Sold (MLS) $70,000 REALCOMP
• 2023-06-08 Listed $84,900 REALCOMP
• 2018-10-02 Sold (MLS) $34,000 REALCOMP
• 2018-10-02 Sold (MLS) $34,000 MiRealSource-MiMLS
• 2018-09-10 Relisted — MiRealSource-MiMLS
• 2018-08-27 Pending — MiRealSource-MiMLS
• 2018-08-17 Listing Removed — REALCOMP
• 2018-08-17 Listed $39,900 REALCOMP
• 2018-08-17 Listed $39,900 MiRealSource-MiMLS
• 2018-06-16 Listed $44,900 REALCOMP
• 2017-12-13 Listing Removed — REALCOMP
• 2017-08-18 Listed $40,999 REALCOMP
• 2014-09-09 Sold (MLS) $34,000 MiRealSource-MiMLS
• 2014-08-22 Listing Removed — MiRealSource-MiMLS
• 2014-08-21 Listed $37,500 MiRealSource-MiMLS
• 2008-03-10 Listing Removed — MiRealSource-MiMLS
• 2007-07-26 Sold (MLS) $51,000 MiRealSource-MiMLS
• 2007-07-24 Listing Removed — MiRealSource-MiMLS
• 2007-04-16 Listing Removed — REALCOMP
• 2007-03-22 Listed $54,900 MiRealSource-MiMLS
• 2006-10-17 Listed $48,000 REALCOMP
• 2006-10-17 Listed $45,000 MiRealSource-MiMLS
• 2006-10-03 Listing Removed — MiRealSource-MiMLS
• 2006-09-26 Sold (MLS) $40,000 MiRealSource-MiMLS
• 2006-09-25 Listing Removed — MiRealSource-MiMLS
• 2006-08-07 Listed $48,500 MiRealSource-MiMLS
• 2006-04-15 Listing Removed — MiRealSource-MiMLS
• 2006-04-03 Listed $51,900 MiRealSource-MiMLS
• 2006-04-01 Listing Removed — MiRealSource-MiMLS
• 2005-09-13 Listed $51,900 MiRealSource-MiMLS
• 2005-05-31 Listed $64,900 MiRealSource-MiMLS
• 2005-03-23 Sold (MLS) $48,000 MiRealSource-MiMLS
• 2005-02-10 Listing Removed — MiRealSource-MiMLS
• 2004-09-15 Listed $49,900 MiRealSource-MiMLS
• 2004-04-30 Listing Removed — REALCOMP
• 2004-01-24 Listed $63,900 REALCOMP
• 2003-08-25 Sold (MLS) $50,000 REALCOMP
• 2003-08-25 Sold (MLS) $50,000 MiRealSource-MiMLS
• 2003-07-29 Sold (MLS) $39,900 REALCOMP
• 2003-04-24 Listing Removed — MiRealSource-MiMLS
• 2003-03-12 Listed $52,900 REALCOMP
• 2003-03-12 Listed $52,900 MiRealSource-MiMLS
• 2003-03-01 Listing Removed — REALCOMP
• 2003-03-01 Listed $39,900 REALCOMP
• 2002-10-14 Sold (MLS) $53,900 REALCOMP
• 2002-10-14 Sold (MLS) $53,900 MiRealSource-MiMLS
• 2002-10-07 Listed $39,900 REALCOMP
• 2002-09-27 Listing Removed — MiRealSource-MiMLS
• 2002-09-13 Listed $56,900 REALCOMP
• 2002-09-13 Listed $56,900 MiRealSource-MiMLS
• 2002-08-19 Sold (MLS) $48,000 REALCOMP
• 2002-08-19 Sold (MLS) $48,000 MiRealSource-MiMLS
• 2002-08-11 Listing Removed — MiRealSource-MiMLS
• 2002-06-20 Listed $52,000 REALCOMP
• 2002-06-20 Listed $52,000 MiRealSource-MiMLS
• 2001-11-19 Sold (MLS) $38,000 REALCOMP
• 2001-11-19 Sold (MLS) $38,000 MiRealSource-MiMLS
• 2001-11-07 Sold (MLS) $52,000 MiRealSource-MiMLS
• 2001-11-05 Listing Removed — MiRealSource-MiMLS
• 2001-11-05 Listing Removed — MiRealSource-MiMLS
• 2001-09-28 Listed $60,000 MiRealSource-MiMLS
• 2001-09-08 Listed $39,900 REALCOMP
• 2001-09-08 Listed $39,900 MiRealSource-MiMLS
• 2000-07-20 Sold (MLS) $43,500 MiRealSource-MiMLS
• 2000-06-15 Listing Removed — MiRealSource-MiMLS
• 2000-05-11 Listed $43,500 MiRealSource-MiMLS
• 1997-10-01 Sold (MLS) $30,000 MiRealSource-MiMLS
• 1997-08-17 Listing Removed — MiRealSource-MiMLS
• 1997-06-16 Listed $33,000 MiRealSource-MiMLS
• 1997-02-06 Sold (MLS) $33,000 MiRealSource-MiMLS
• 1996-09-20 Listed $38,000 MiRealSource-MiMLS