22444 Kelly Rd #11 · Eastpointe, MI 48021

$50,000

2 bd · 1.0 ba · 850 sqft · Condo · 156 Days on market

Built 1962 $59/sqft · at area comps Est $52k · at est. $300/mo HOA · 22% 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +9.5/15.0
• Livability +3.7/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully Updated 2-Bedroom Ranch-Style Co-op in 55+ Community – Cash Only Welcome to easy living in this charming, move-in-ready 2-bedroom, 1-bath ranch-style co-op located in a serene 55+ community. This home features luxury vinyl flooring throughout, remodeled kitchen and bath, fresh paint, and a bright, open layout designed for comfort and accessibility. An on-site laundry facility only enhances the desirability! The updated kitchen boasts stainless steel appliances and plenty of cabinet space. Relax and unwind on your private porch area, perfect for morning coffee or evening sunsets. With its close proximity to shopping, dining and expressways, the convenience this unit offers is off the charts! Monthly maintenance includes water, heat, taxes, insurance, and property maintenance - offering truly hassle-free living. Enjoy the benefits of a quiet, well-maintained community with like-minded neighbors.

Key facts

• Open layout
• Updated kitchen
• Private porch area

Tags

• UPDATED KITCHEN
• STAINLESS STEEL APPLIANCES
• PRIVATE PORCH AREA
• ON-SITE LAUNDRY FACILITY
• OPEN LAYOUT

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $50k.

Deal economics

• At list price, monthly cash flow is $432 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#213 in MI) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety D+, amenities D, employment D.
• 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.
• Zoned schools: Avalon Elementary School (313 students, 62% FRL); South Lake Middle School (math 7% / reading 23%, grade F, #451 of 493 statewide, top 92%, 299 students, 66% FRL); South Lake High School (math 2% / reading 27%, grade F, #640 of 713 statewide, top 91%, 516 students, 61% FRL).
• Market conditions: Rents rising (+3.5%/yr); 9 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $346 of loan paydown is wiped out by about $2k 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 + 3.5% rent growth), your $14k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 156 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 10y ago; this cycle's ask has dropped $10k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.

Recommended offer $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 156 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1962 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is F 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?
9. 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.
10. 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.
11. 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: 2.73% ✓
• Cap rate: 16.65%
• Cash-on-cash: 37.01%
• DSCR: 2.65
• GRM: 3.1

CMA / ARV

• ARV (median comp): $52,375
• List price: $50,000
• Delta: -4.53%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.47% rent growth · sell at horizon

5-year hold

• IRR: 33.9%
• Equity multiple: 2.45×
• Total profit: $20,248
• Equity at exit: $7,455

10-year hold

• IRR: 41.2%
• Equity multiple: 5.04×
• Total profit: $56,555
• Equity at exit: $4,323

Cash invested: $14,000 (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 48021

• Rents YoY: 3.5%
• Active inventory: 9
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $1,364 high
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$300
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $432

Break-even live

Break-even rent $817

Max offer price $50,000

Occupancy floor 63%

Sensitivity live

Price	-10% $466	-5% $449	+0% $432	+5% $414	+10% $397
Rent	-10% $324	-5% $378	+0% $432	+5% $486	+10% $539
Rate	-1.0pp $457	-0.5pp $444	base $432	+0.5pp $419	+1.0pp $406

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23005 Kelly Rd Eastpointe, MI	2.0	1.0	850	$1,250	$1.47	25d	1	0.28mi
22843 Grove St #47 Saint Clair Shores, MI	1.0	1.0	700	$1,100	$1.57	21d	1	0.81mi
20625 Elizabeth St Saint Clair Shores, MI	3.0	2.0	1074	$1,895	$1.76	45d	1	0.83mi
20600 Balfour St Harper Woods, MI	1.0–2.0	1.0–2.0	971	$1,640	$1.69	0d	14	1.13mi
22126 Alger St Saint Clair Shores, MI	2.0	1.5	1060	$1,750	$1.65	12d	1	1.31mi
22307 Greater Mack Ave St Clair Shores, MI	2.0	1.0	806	$1,195	$1.48	4d	1	1.35mi
2175 Ridgemont Rd Grosse Pointe Woods, MI	2.0	1.0	1100	$1,300	$1.18	45d	1	1.37mi
21633 Greater Mack Ave St Clair Shores, MI	1.0	1.0	990	$1,212	$1.22	0d	1	1.39mi
17639 Oakdale St Roseville, MI	2.0	1.0	812	$1,200	$1.48	46d	1	1.42mi

HOA detail condo

• Monthly dues: $300 · $3,600/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 41 events

1. 2026-06-21
   days on market $50,000 Active 156 DOM
2. 2026-06-18
   days on market $50,000 Active 153 DOM
3. 2026-06-17
   days on market $50,000 Active 152 DOM
4. 2026-06-16
   days on market $50,000 Active 151 DOM
5. 2026-06-15
   days on market $50,000 Active 150 DOM
6. 2026-06-13
   days on market $50,000 Active 148 DOM
7. 2026-06-13
   days on market $50,000 Active 147 DOM
8. 2026-06-09
   days on market $50,000 Active 144 DOM
9. 2026-06-08
   days on market $50,000 Active 143 DOM
10. 2026-06-07
    days on market $50,000 Active 142 DOM
11. 2026-06-04
    days on market $50,000 Active 139 DOM
12. 2026-06-03
    days on market $50,000 Active 138 DOM
13. 2026-06-02
    days on market $50,000 Active 137 DOM
14. 2026-06-01
    days on market $50,000 Active 136 DOM
15. 2026-05-31
    days on market $50,000 Active 135 DOM
16. 2026-03-24
    price $50,000 937-char remark

    Show marketing remark (937 chars)

    Beautifully Updated 2-Bedroom Ranch-Style Co-op in 55+ Community – Cash Only Welcome to easy living in this charming, move-in-ready 2-bedroom, 1-bath ranch-style co-op located in a serene 55+ community. This home features luxury vinyl flooring throughout, remodeled kitchen and bath, fresh paint, and a bright, open layout designed for comfort and accessibility. An on-site laundry facility only enhances the desirability! The updated kitchen boasts stainless steel appliances and plenty of cabinet space. Relax and unwind on your private porch area, perfect for morning coffee or evening sunsets. With its close proximity to shopping, dining and expressways, the convenience this unit offers is off the charts! Monthly maintenance includes water, heat, taxes, insurance, and property maintenance - offering truly hassle-free living. Enjoy the benefits of a quiet, well-maintained community with like-minded neighbors.

17. 2026-03-23
    price $50,000 931-char remark

    Show marketing remark (931 chars)

    Beautifully Updated 2-Bedroom Ranch-Style Co-op in 55+ Community – Cash Only Welcome to easy living in this charming, move-in-ready 2-bedroom, 1-bath ranch-style co-op located in a serene 55+ community. This home features luxury vinyl flooring throughout, remodeled kitchen and bath, fresh paint, and a bright, open layout designed for comfort and accessibility. An on-site laundry facility only enhances the desirability! The updated kitchen boasts stainless steel appliances and plenty of cabinet space. Relax and unwind on your private porch area, perfect for morning coffee or evening sunsets. With its close proximity to shopping, dining and expressways, the convenience this unit offers is off the charts! Monthly maintenance includes water, heat, taxes, insurance, and property maintenance—offering truly hassle-free living. Enjoy the benefits of a quiet, well-maintained community with like-minded neighbors.

18. 2026-01-16
    listed $60,000 Active 931-char remark

    Show marketing remark (937 chars)

    Beautifully Updated 2-Bedroom Ranch-Style Co-op in 55+ Community – Cash Only Welcome to easy living in this charming, move-in-ready 2-bedroom, 1-bath ranch-style co-op located in a serene 55+ community. This home features luxury vinyl flooring throughout, remodeled kitchen and bath, fresh paint, and a bright, open layout designed for comfort and accessibility. An on-site laundry facility only enhances the desirability! The updated kitchen boasts stainless steel appliances and plenty of cabinet space. Relax and unwind on your private porch area, perfect for morning coffee or evening sunsets. With its close proximity to shopping, dining and expressways, the convenience this unit offers is off the charts! Monthly maintenance includes water, heat, taxes, insurance, and property maintenance - offering truly hassle-free living. Enjoy the benefits of a quiet, well-maintained community with like-minded neighbors.

19. 2026-01-16
    listed $60,000 Active 937-char remark

    Show marketing remark (937 chars)

    Beautifully Updated 2-Bedroom Ranch-Style Co-op in 55+ Community – Cash Only Welcome to easy living in this charming, move-in-ready 2-bedroom, 1-bath ranch-style co-op located in a serene 55+ community. This home features luxury vinyl flooring throughout, remodeled kitchen and bath, fresh paint, and a bright, open layout designed for comfort and accessibility. An on-site laundry facility only enhances the desirability! The updated kitchen boasts stainless steel appliances and plenty of cabinet space. Relax and unwind on your private porch area, perfect for morning coffee or evening sunsets. With its close proximity to shopping, dining and expressways, the convenience this unit offers is off the charts! Monthly maintenance includes water, heat, taxes, insurance, and property maintenance - offering truly hassle-free living. Enjoy the benefits of a quiet, well-maintained community with like-minded neighbors.

20. 2025-12-16
    historical
21. 2025-12-16
    historical
22. 2025-09-09
    price $60,000
23. 2025-09-08
    price $60,000
24. 2025-06-21
    listed $65,000 Active
25. 2025-06-20
    listed $65,000 Active
26. 2024-05-22
    soldstatus $34,999 Sold
27. 2024-05-22
    soldstatus $34,999 Closed
28. 2024-05-14
    status Pending
29. 2024-05-14
    status Pending
30. 2024-04-25
    price $34,999
31. 2024-04-24
    price $34,999
32. 2024-03-30
    listed $44,999 Active
33. 2024-03-30
    listed $44,999 Active
34. 2016-06-23
    historical
35. 2016-06-23
    soldstatus $14,000 Closed
36. 2016-06-09
    status Pending
37. 2016-05-27
    status Active
38. 2016-05-24
    historical
39. 2016-04-04
    status Back on Market
40. 2016-04-02
    status Pending
41. 2016-03-22
    listed $15,000 Active

ⓘ 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 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,364
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$1,309
• − Management: −$1,309
• − HOA: −$3,600
• − Depreciation: −$1,455
• Taxable income: $4,890
• Est. tax owed @ 24.0%: −$1,174
• After-tax cash flow: $4,007/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: 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 — Eastpointe

• Score: 73/100
• State rank: #213
• US rank: #5265

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Eastpointe, MI
• County: Macomb County · 638,552 people
• City population: 33,982
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 33,982
• Household income: $62,325
• Rent vs Own: 29.7% rent · 70.3% own
• Severe rent burden: 1170.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 53% White 39% Two or more races 7%
• Common ancestry: Romanian 8% Lithuanian 2% Slovak 1%
• Foreign-born: 3% · Canada

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: ▼ -211.64%
• Current HPI: 197.1905
• Rent YoY: ▲ 3.47%
• 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

+233.3% since first listed

26 events — show timeline

• 2026-03-24 Price Changed $50,000 MiRealSource-MiMLS
• 2026-03-23 Price Changed $50,000 REALCOMP
• 2026-01-16 Listed $60,000 REALCOMP
• 2026-01-16 Listed $60,000 MiRealSource-MiMLS
• 2025-12-16 Listing Removed — MiRealSource-MiMLS
• 2025-12-16 Listing Removed — REALCOMP
• 2025-09-09 Price Changed $60,000 MiRealSource-MiMLS
• 2025-09-08 Price Changed $60,000 REALCOMP
• 2025-06-21 Listed $65,000 REALCOMP
• 2025-06-20 Listed $65,000 MiRealSource-MiMLS
• 2024-05-22 Sold (MLS) $34,999 MiRealSource-MiMLS
• 2024-05-22 Sold (MLS) $34,999 REALCOMP
• 2024-05-14 Pending — MiRealSource-MiMLS
• 2024-05-14 Pending — REALCOMP
• 2024-04-25 Price Changed $34,999 MiRealSource-MiMLS
• 2024-04-24 Price Changed $34,999 REALCOMP
• 2024-03-30 Listed $44,999 MiRealSource-MiMLS
• 2024-03-30 Listed $44,999 REALCOMP
• 2016-06-23 Listing Removed — MiRealSource-MiMLS
• 2016-06-23 Sold (MLS) $14,000 MiRealSource-MiMLS
• 2016-06-09 Pending — MiRealSource-MiMLS
• 2016-05-27 Relisted — MiRealSource-MiMLS
• 2016-05-24 Listing Removed — MiRealSource-MiMLS
• 2016-04-04 Relisted — MiRealSource-MiMLS
• 2016-04-02 Pending — MiRealSource-MiMLS
• 2016-03-22 Listed $15,000 MiRealSource-MiMLS