29104 Philadelphia Dr #13 · New Haven, MI 48051

$149,999

1 bd · 1.0 ba · 900 sqft · Condo public records · 77 Days on market

Built 2002 $167/sqft · 19% below area Est $184k · 19% under $250/mo HOA · 19% of rent

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Why this score? — see what drove the D- 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).

• ARV discount +15.0/15.0
• Cash flow +7.2/30.0
• 1% rule +3.8/10.0
• Schools +3.6/10.0
• Livability +2.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this completely updated condo in the Township of Chesterfield. This condo comes with lots of modern features, vaulted ceiling throughout and an open floor plan for entertaining. Rather you're a home body or a person on the go. You will find comfort and serenity once you enter this lovely spacious condo. Pack your bags because all you have to do is move in, it has fresh paint and fairly new carpet. Workable kitchen space that includes granite counters, undermount sink, wood laminate flooring and a natural backsplash. As we enter the primary you will find plenty of room for storage it has a huge Walkin closet to contain your precious valuables. Let's not forget there is a terrace to soak up some vitamin D or just to catch a summer breeze. So come make this cozy condo your home it is waiting for you.

Key facts

• Huge walkin closet
• Open floor plan
• Terrace

Tags

• OPEN FLOOR PLAN
• GRANITE COUNTERS
• UNDERMOUNT SINK
• WOOD LAMINATE FLOORING
• HUGE WALKIN CLOSET
• TERRACE

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $-208 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $113k (24.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $133k (11.5% below list).
• Recommended offer: $113k (24.5% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 57/100 on livability (#650 in MI) — a working-class tenant base; expect higher turnover. Strengths: cost of living A+, housing A+, crime B; Watch: employment D, amenities F, commute F.
• L'Anse Creuse Public Schools (suburban): math 31% / reading 51% proficiency, ranked #184 of 540 in MI (top 34%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 142 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 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 $1k of loan paydown is wiped out by about $4k 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 77 days — a 6% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $20k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $89k; list at $150k implies a 69% gain — meaningful room to come down on a strong offer.

Recommended offer $113,194 (24.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 25% concession, seller financing, or rate buy-down credit?
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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.88% ✗
• Cap rate: 4.63%
• Cash-on-cash: -5.95%
• DSCR: 0.74
• GRM: 9.4

CMA / ARV

• ARV (median comp): $184,465
• List price: $149,999
• Delta: -18.68%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -26.4%
• Equity multiple: 0.11×
• Total profit: $-37,420
• Equity at exit: $22,365

10-year hold

• IRR: -23.0%
• Equity multiple: -0.17×
• Total profit: $-49,040
• Equity at exit: $12,969

Cash invested: $42,000 (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 48051

• Home prices YoY: -31.8%
• Active inventory: 142
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,327 medium
• Mortgage (P&I): −$787
• Tax from tax record: −$158 /mo · $1,895/yr
• Insurance: −$62
• HOA: −$250
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $-208

Break-even live

Break-even rent $1,591

Max offer price $113,194

Occupancy floor —

Sensitivity live

Price	-10% $-123	-5% $-166	+0% $-208	+5% $-251	+10% $-293
Rent	-10% $-313	-5% $-261	+0% $-208	+5% $-156	+10% $-103
Rate	-1.0pp $-133	-0.5pp $-170	base $-208	+0.5pp $-247	+1.0pp $-287

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
52758 S Yorktown Ct Unit 176 New Baltimore, MI	2.0	2.0	960	$1,449	$1.51	0d	1	0.53mi
29890 Donna Ln New Baltimore, MI	2.0	1.5	1120	$1,500	$1.34	0d	1	1.21mi
29710 Amy Ln #5 Chesterfield, MI	2.0	1.5	1120	$1,235	$1.10	0d	1	1.22mi
28123 23 Mile Rd New Baltimore, MI	1.0–2.0	1.0	800	$919	$1.15	0d	5	1.36mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-21
   days on market $149,999 Active 77 DOM
2. 2026-06-18
   days on market $149,999 Active 74 DOM
3. 2026-06-17
   days on market $149,999 Active 73 DOM
4. 2026-06-16
   days on market $149,999 Active 72 DOM
5. 2026-06-15
   days on market $149,999 Active 71 DOM
6. 2026-06-13
   days on market $149,999 Active 69 DOM
7. 2026-06-13
   days on market $149,999 Active 68 DOM
8. 2026-06-10
   price $149,999 Active 65 DOM
9. 2026-06-09
   days on market $169,999 Active 65 DOM
10. 2026-06-08
    days on market $169,999 Active 64 DOM
11. 2026-06-07
    days on market $169,999 Active 63 DOM
12. 2026-06-04
    days on market $169,999 Active 60 DOM
13. 2026-06-03
    days on market $169,999 Active 59 DOM
14. 2026-06-02
    days on market $169,999 Active 58 DOM
15. 2026-06-01
    days on market $169,999 Active 57 DOM
16. 2026-05-31
    days on market $169,999 Active 56 DOM
17. 2026-04-03
    listed $169,999 Active 824-char remark

    Show marketing remark (824 chars)

    Welcome home to this completely updated condo in the Township of Chesterfield. This condo comes with lots of modern features, vaulted ceiling throughout and an open floor plan for entertaining. Rather you're a home body or a person on the go. You will find comfort and serenity once you enter this lovely spacious condo. Pack your bags because all you have to do is move in, it has fresh paint and fairly new carpet. Workable kitchen space that includes granite counters, undermount sink, wood laminate flooring and a natural backsplash. As we enter the primary you will find plenty of room for storage it has a huge Walkin closet to contain your precious valuables. Let's not forget there is a terrace to soak up some vitamin D or just to catch a summer breeze. So come make this cozy condo your home it is waiting for you.

18. 2026-04-03
    listed $169,999 Active 824-char remark

    Show marketing remark (824 chars)

    Welcome home to this completely updated condo in the Township of Chesterfield. This condo comes with lots of modern features, vaulted ceiling throughout and an open floor plan for entertaining. Rather you're a home body or a person on the go. You will find comfort and serenity once you enter this lovely spacious condo. Pack your bags because all you have to do is move in, it has fresh paint and fairly new carpet. Workable kitchen space that includes granite counters, undermount sink, wood laminate flooring and a natural backsplash. As we enter the primary you will find plenty of room for storage it has a huge Walkin closet to contain your precious valuables. Let's not forget there is a terrace to soak up some vitamin D or just to catch a summer breeze. So come make this cozy condo your home it is waiting for you.

19. 2018-09-06
    soldstatus $89,000
20. 2015-09-23
    soldstatus $67,500
21. 2013-12-16
    soldstatus $56,000
22. 2010-03-10
    soldstatus $50,000

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

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $1,895 · $158/mo
• Projected year-2 tax: $2,103 · $175/mo
• Expected delta: +$207/yr (+$17/mo · 10.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

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 · 16 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: $15,930
• − Mortgage interest: −$8,402
• − Property taxes: −$1,895
• − Insurance: −$750
• − Repairs & maintenance: −$1,274
• − Management: −$1,274
• − HOA: −$3,000
• − Depreciation: −$4,364
• Taxable loss: −$5,030
• Est. tax savings @ 24.0%: +$1,207
• After-tax cash flow: $-1,293/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: L'Anse Creuse Public Schools
• NCES district ID: 2621870
• Math proficiency: 31% ▼ -8.00%
• Reading proficiency: 51% ▼ -2.00%
• Median HH income: $57,757
• Composite: 35.99/100
• National rank: #4790
• State rank: #184 of 540 in MI

Livability — New Haven

• Score: 57/100
• State rank: #650
• US rank: #22110

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 11,065
• Population (ZIP): 17,716

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 (79%)
• Race & ethnicity: White 79% Black 8% Two or more races 7% Hispanic / Latino 5%
• Common ancestry: Romanian 18% Lithuanian 5% Slovak 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Spanish 4% Other Indo-European 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: ▼ -98.06%
• Current HPI: 210.6017
• 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

+240.0% since first listed

6 events — show timeline

• 2026-04-03 Listed $169,999 MiRealSource-MiMLS
• 2026-04-03 Listed $169,999 REALCOMP
• 2018-09-06 Sold (Public Records) $89,000 Public Records
• 2015-09-23 Sold (Public Records) $67,500 Public Records
• 2013-12-16 Sold (Public Records) $56,000 Public Records
• 2010-03-10 Sold (Public Records) $50,000 Public Records

Property tax history

+6.3%/yr

Latest (2025): $1,895 · +2.0% YoY. Source: county tax records.