8755 Sterling St · Center Line, MI 48015

$50,000

1 bd · 1.0 ba · 950 sqft · Condo · 110 Days on market

Built 1966 Good condition $53/sqft · 22% below area Est $64k · 22% under $405/mo HOA · 35% of rent ↓ 10% 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 +27.8/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +9.8/10.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this bright and inviting one-bedroom cooperative, perfect for anyone seeking comfort and ease of ownership. This cash-only, primary-residence property offers a unique opportunity for affordable and low-maintenance living. Inside, you’ll find a spacious layout filled with natural light, while your private deck provides the perfect spot for morning coffee or evening relaxation. As part of a cooperative, all interior and exterior maintenance—as well as property taxes—are included in your monthly fee, ensuring stress-free ownership. Plus, laundry in the basement and ample storage adds to the everyday convenience.

Key facts

• $405 HOA
• Built 1966
• Listed 109 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $50k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $152 ($2k/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: $46k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 5.3% in Center Line — 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 74/100 on livability (#190 in MI, #4,835 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities C-, crime D+, health & safety D.
• Van Dyke Public Schools (urban): math 7% / reading 19% proficiency, ranked #512 of 540 in MI (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 37 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 + 3.0% rent growth), your $14k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 110 days — a 9% lower offer ($46k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 2y ago; this cycle's ask has dropped $5k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 35% of rent.

Recommended offer $45,500 (9.0% below list)

Questions for the listing agent

1. It's been on market 110 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — 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 D-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 D 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: 2.28% ✓
• Cap rate: 9.94%
• Cash-on-cash: 13.03%
• DSCR: 1.58
• GRM: 3.6

CMA / ARV

• ARV (median comp): $64,374
• List price: $50,000
• Delta: -22.33%
• Verdict: UNDERPRICED
• Comps: 19 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 3.4%
• Equity multiple: 1.13×
• Total profit: $1,845
• Equity at exit: $7,455

10-year hold

• IRR: 13.3%
• Equity multiple: 2.08×
• Total profit: $15,153
• 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 48015

• Home prices YoY: -20.6%
• Active inventory: 37
• Price-to-rent: 3.6×

Monthly cashflow live

• Estimated rent: $1,142 high
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $750/yr
• Insurance: −$21
• HOA: −$405
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $152

Break-even live

Break-even rent $950

Max offer price $50,000

Occupancy floor 82%

Sensitivity live

Price	-10% $187	-5% $169	+0% $152	+5% $135	+10% $117
Rent	-10% $62	-5% $107	+0% $152	+5% $197	+10% $242
Rate	-1.0pp $177	-0.5pp $165	base $152	+0.5pp $139	+1.0pp $126

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 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11130 Stephens Rd Warren, MI	2.0	1.0	750	$1,275	$1.70	0d	1	0.22mi
8636 Republic Ave Warren, MI	2.0	1.0	800	$1,250	$1.56	16d	1	0.53mi
8212 Timken Ave Warren, MI	2.0	1.0	756	$1,320	$1.75	25d	1	0.57mi
11404 Warren Blvd Unit 102 Warren, MI	2.0	1.0	900	$1,250	$1.39	25d	1	0.59mi
11500 Warren Blvd Warren, MI	1.0	1.0	800	$1,125	$1.41	16d	1	0.59mi
11331 Continental Ave Warren, MI	2.0	1.0	765	$1,250	$1.63	25d	1	0.60mi
11476 Warren Blvd Unit 114 Warren, MI	1.0	1.0	800	$1,125	$1.41	45d	1	0.60mi
8103 Lozier Ave Unit 2 Warren, MI	1.0	1.0	600	$650	$1.08	45d	1	0.64mi
25108 Hoover Rd Warren, MI	1.0–2.0	1.0	702	$1,100	$1.57	0d	61	0.66mi
11359 Maxwell Ave Unit 11359 Warren, MI	2.0	1.0	900	$1,000	$1.11	5d	1	0.82mi
25005 Lawrence Ave Center Line, MI	1.0–2.0	1.0–1.5	1000	$845	$0.84	45d	1	0.91mi
8036 Hupp Ave Warren, MI	2.0	1.0	680	$1,150	$1.69	45d	1	1.07mi
11236 Studebaker Ave Warren, MI	2.0	1.0	672	$1,175	$1.75	45d	1	1.10mi
7212 Helen St Unit 7212 Center Line, MI	1.0	1.0	650	$1,000	$1.54	45d	1	1.12mi
8162 Orchard Ave Warren, MI	2.0	1.0	900	$1,000	$1.11	45d	1	1.30mi
7275 Chalmers Ave Warren, MI	2.0	1.0	703	$1,200	$1.71	25d	1	1.32mi
8065 Meadow Ave Warren, MI	2.0	1.0	800	$1,050	$1.31	25d	1	1.36mi
11228 Sherman Ave Warren, MI	2.0	1.0	1000	$1,200	$1.20	14d	1	1.47mi

HOA detail condo

• Monthly dues: $405 · $4,860/yr
• Likely covers: exterior maint.
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-06-21
   days on market $50,000 Active 110 DOM
2. 2026-06-18
   days on market $50,000 Active 107 DOM
3. 2026-06-17
   days on market $50,000 Active 106 DOM
4. 2026-06-16
   days on market $50,000 Active 105 DOM
5. 2026-06-15
   days on market $50,000 Active 104 DOM
6. 2026-06-13
   days on market $50,000 Active 102 DOM
7. 2026-06-13
   days on market $50,000 Active 101 DOM
8. 2026-06-09
   days on market $50,000 Active 98 DOM
9. 2026-06-08
   days on market $50,000 Active 97 DOM
10. 2026-06-07
    days on market $50,000 Active 96 DOM
11. 2026-06-04
    days on market $50,000 Active 93 DOM
12. 2026-06-03
    days on market $50,000 Active 92 DOM
13. 2026-06-02
    days on market $50,000 Active 91 DOM
14. 2026-06-01
    days on market $50,000 Active 90 DOM
15. 2026-05-31
    pricedays on market $50,000 Active 89 DOM
16. 2026-03-03
    listed $55,000 Active 645-char remark

    Show marketing remark (627 chars)

    Welcome to this bright and inviting one-bedroom cooperative, perfect for anyone seeking comfort and ease of ownership. This cash-only, primary-residence property offers a unique opportunity for affordable and low-maintenance living. Inside, you'll find a spacious layout filled with natural light, while your private deck provides the perfect spot for morning coffee or evening relaxation. As part of a cooperative, all interior and exterior maintenance-as well as property taxes-are included in your monthly fee, ensuring stress-free ownership. Plus, laundry in the basement and ample storage adds to the everyday convenience.

17. 2026-03-03
    listed $55,000 Active 627-char remark

    Show marketing remark (627 chars)

    Welcome to this bright and inviting one-bedroom cooperative, perfect for anyone seeking comfort and ease of ownership. This cash-only, primary-residence property offers a unique opportunity for affordable and low-maintenance living. Inside, you'll find a spacious layout filled with natural light, while your private deck provides the perfect spot for morning coffee or evening relaxation. As part of a cooperative, all interior and exterior maintenance-as well as property taxes-are included in your monthly fee, ensuring stress-free ownership. Plus, laundry in the basement and ample storage adds to the everyday convenience.

18. 2026-03-01
    historical
19. 2026-03-01
    historical
20. 2025-09-20
    price $55,000
21. 2025-09-19
    price $55,000
22. 2025-08-22
    listed $60,000 Active
23. 2025-08-22
    listed $60,000 Active
24. 2024-09-16
    soldstatus $48,000 Sold
25. 2024-09-16
    soldstatus $48,000 Closed
26. 2024-08-29
    status Pending
27. 2024-08-29
    status Pending
28. 2024-08-08
    historical
29. 2024-08-08
    listed $56,000 Active
30. 2024-08-08
    listed $56,000 Active
31. 2024-08-08
    historical
32. 2024-07-10
    listed $61,000 Active
33. 2024-07-10
    listed $61,000 Active

ⓘ 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: $13,709
• − Mortgage interest: −$2,801
• − Property taxes: −$750
• − Insurance: −$250
• − Repairs & maintenance: −$1,097
• − Management: −$1,097
• − HOA: −$4,860
• − Depreciation: −$1,455
• Taxable income: $1,401
• Est. tax owed @ 24.0%: −$336
• After-tax cash flow: $1,488/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 · 8 photos

Good 75/100 Cosmetic rehab

This one-bedroom condo is in good condition with a good condition score of 75. It has a good roof, exterior, and flooring, and is in need of minor repairs to the kitchen and bathroom. The property is move-in ready and has a good resale and rental value with updates that could be made to the kitchen and bathroom.

Repairs flagged

• Minor kitchen cabinets — dated and could be updated
• Minor bathroom fixtures — basic and could be replaced

Value-add opportunities

• Both new kitchen cabinets — modernizes the space and adds value
• Both new bathroom fixtures — enhances functionality and appeal
• Both landscaping — improves curb appeal and adds value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and could be updated	Minor	$500–3,000
bathroom fixtures · basic and could be replaced	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both new kitchen cabinets — modernizes the space and adds value ↑
• Both new bathroom fixtures — enhances functionality and appeal ↑
• Both landscaping — improves curb appeal and adds 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: Van Dyke Public Schools
• NCES district ID: 2634680
• Math proficiency: 7% ▼ -11.00%
• Reading proficiency: 19% ▼ -5.00%
• Median HH income: $33,231
• Composite: 10.46/100
• National rank: #9784
• State rank: #512 of 540 in MI

Livability — Center Line

• Score: 74/100
• State rank: #190
• US rank: #4835

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Center Line, MI
• City population: 8,448
• Population (ZIP): 8,448

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 0.64)
• Race & ethnicity: White 51% Black 30% Asian 11% Two or more races 4% Hispanic / Latino 4% Native American 1%
• Common ancestry: Romanian 7% Lithuanian 3% German 2%
• Foreign-born: 15% · Canada, Vietnam
• Languages at home: 81% English-only · Other Indo-European 9% Russian/Polish/Slavic 5% Spanish 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: ▼ -66.73%
• Current HPI: 256.7842
• 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

-9.8% since first listed

18 events — show timeline

• 2026-03-03 Listed $55,000 REALCOMP
• 2026-03-03 Listed $55,000 MiRealSource-MiMLS
• 2026-03-01 Listing Removed — REALCOMP
• 2026-03-01 Listing Removed — MiRealSource-MiMLS
• 2025-09-20 Price Changed $55,000 MiRealSource-MiMLS
• 2025-09-19 Price Changed $55,000 REALCOMP
• 2025-08-22 Listed $60,000 REALCOMP
• 2025-08-22 Listed $60,000 MiRealSource-MiMLS
• 2024-09-16 Sold (MLS) $48,000 MiRealSource-MiMLS
• 2024-09-16 Sold (MLS) $48,000 REALCOMP
• 2024-08-29 Pending — MiRealSource-MiMLS
• 2024-08-29 Pending — REALCOMP
• 2024-08-08 Listing Removed — MiRealSource-MiMLS
• 2024-08-08 Listed $56,000 MiRealSource-MiMLS
• 2024-08-08 Listed $56,000 REALCOMP
• 2024-08-08 Listing Removed — REALCOMP
• 2024-07-10 Listed $61,000 MiRealSource-MiMLS
• 2024-07-10 Listed $61,000 REALCOMP