38272 Fairway Ct Unit 121A · Clinton, MI 48038

$70,000

1 bd · 1.0 ba · 598 sqft · Condo public records · 160 Days on market

Built 1972 $117/sqft · 9% above area Est $70k · at est. $265/mo HOA · 27% 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).

• Cash flow +10.3/30.0
• 1% rule +8.8/10.0
• ARV discount +7.5/15.0
• Schools +4.0/10.0
• Livability +3.5/5.0
• DSCR +3.0/10.0
• Condition / age +2.5/5.0
• Rent growth +2.3/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ground-level one-bedroom, one-bath ranch-style condominium in the Fern Hill Manor community offering convenient single-level living. The layout includes a comfortable living area, an eat-in kitchen with ample cabinet storage and tile flooring, and a generously proportioned bedroom with natural light. The full bathroom features a single-sink vanity and tub/shower combination. Neutral finishes throughout provide a clean, move-in-ready feel with flexibility for future updates. The unit includes assigned parking and access to community amenities including an outdoor in-ground pool. Located east of Garfield and south of Clinton River Road in the Chippewa Valley School District, with nearby shopping, dining, and commuter routes. Suitable for owner-occupants or investors seeking low-maintenance condominium living.

Key facts

• Natural light
• Eat-in kitchen
• Tile flooring

Tags

• SINGLE-LEVEL LIVING
• EAT-IN KITCHEN
• AMPLE CABINET STORAGE
• TILE FLOORING
• NATURAL LIGHT
• SINGLE-SINK VANITY

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $70k.

Deal economics

• At list price, monthly cash flow is $-38 ($-457/yr) — negative.
• To cash-flow at today's rent, offer at most $63k (9.6% below list).
• Meets the 1% rule at list price ($969 rent vs $70k).
• Recommended offer: $62k (12.0% below list) — sets the bar for market timing.
• Cap rate 5.6% vs local median 3.3% in Clinton — 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 70/100 on livability (#315 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Chippewa Valley Schools (suburban): math 39% / reading 50% proficiency, ranked #133 of 540 in MI (top 25%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.9%/yr); 257 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,321 units permitted in Macomb County in 2024 (86 in 5+ unit buildings).
• This rent is only 15% of the median local income ($79k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $484 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.

Negotiation context

• It's been on market 160 days — a 12% lower offer ($62k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 14y ago; this cycle's ask has dropped $10k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $56k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 27% of rent.

Recommended offer $61,600 (12.0% 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 160 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
9. 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?
10. 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.
11. 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.
12. 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: 1.38% ✓
• Cap rate: 5.64%
• Cash-on-cash: -2.33%
• DSCR: 0.90
• GRM: 6.0

CMA / ARV

• ARV (median comp): $70,000
• List price: $70,000
• Delta: —
• Verdict: FAIR
• Comps: 7 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -25.8%
• Equity multiple: 0.16×
• Total profit: $-16,394
• Equity at exit: $10,437

10-year hold

• IRR: -55.4%
• Equity multiple: -0.40×
• Total profit: $-27,509
• Equity at exit: $6,052

Cash invested: $19,600 (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 48038

• Rents YoY: -0.9%
• Active inventory: 257
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $969 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$142 /mo · $1,704/yr
• Insurance: −$29
• HOA: −$265
• Vacancy / Maint / Mgmt: −$203
• Net cashflow: $-38

Break-even live

Break-even rent $1,017

Max offer price $63,280

Occupancy floor 99%

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: $17,500
• Closing costs: $2,100
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
38290 Fairway Ct Clinton Township, MI	1.0	1.0	625	$912	$1.46	10d	2	0.03mi
36607 Holiday Cir E Clinton Twp, MI	1.0–2.0	1.0	775	$1,049	$1.35	43d	2	0.82mi
17001 Eleanor Dr S Clinton Twp, MI	1.0–2.0	1.0	790	$900	$1.14	43d	1	0.86mi

HOA detail condo

• Monthly dues: $265 · $3,180/yr
• Likely covers: poolparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 30 events

1. 2026-06-18
   days on market $70,000 Active 160 DOM
2. 2026-06-17
   days on market $70,000 Active 159 DOM
3. 2026-06-16
   days on market $70,000 Active 158 DOM
4. 2026-06-15
   days on market $70,000 Active 157 DOM
5. 2026-06-13
   days on market $70,000 Active 155 DOM
6. 2026-06-13
   days on market $70,000 Active 154 DOM
7. 2026-06-09
   days on market $70,000 Active 151 DOM
8. 2026-06-08
   days on market $70,000 Active 150 DOM
9. 2026-06-07
   days on market $70,000 Active 149 DOM
10. 2026-06-04
    days on market $70,000 Active 146 DOM
11. 2026-06-03
    days on market $70,000 Active 145 DOM
12. 2026-06-02
    days on market $70,000 Active 144 DOM
13. 2026-06-01
    days on market $70,000 Active 143 DOM
14. 2026-05-31
    days on market $70,000 Active 142 DOM
15. 2026-05-09
    price $70,000 818-char remark

    Show marketing remark (818 chars)

    Ground-level one-bedroom, one-bath ranch-style condominium in the Fern Hill Manor community offering convenient single-level living. The layout includes a comfortable living area, an eat-in kitchen with ample cabinet storage and tile flooring, and a generously proportioned bedroom with natural light. The full bathroom features a single-sink vanity and tub/shower combination. Neutral finishes throughout provide a clean, move-in-ready feel with flexibility for future updates. The unit includes assigned parking and access to community amenities including an outdoor in-ground pool. Located east of Garfield and south of Clinton River Road in the Chippewa Valley School District, with nearby shopping, dining, and commuter routes. Suitable for owner-occupants or investors seeking low-maintenance condominium living.

16. 2026-05-09
    price $70,000 818-char remark

    Show marketing remark (818 chars)

    Ground-level one-bedroom, one-bath ranch-style condominium in the Fern Hill Manor community offering convenient single-level living. The layout includes a comfortable living area, an eat-in kitchen with ample cabinet storage and tile flooring, and a generously proportioned bedroom with natural light. The full bathroom features a single-sink vanity and tub/shower combination. Neutral finishes throughout provide a clean, move-in-ready feel with flexibility for future updates. The unit includes assigned parking and access to community amenities including an outdoor in-ground pool. Located east of Garfield and south of Clinton River Road in the Chippewa Valley School District, with nearby shopping, dining, and commuter routes. Suitable for owner-occupants or investors seeking low-maintenance condominium living.

17. 2026-02-24
    price $75,000 818-char remark

    Show marketing remark (818 chars)

    Ground-level one-bedroom, one-bath ranch-style condominium in the Fern Hill Manor community offering convenient single-level living. The layout includes a comfortable living area, an eat-in kitchen with ample cabinet storage and tile flooring, and a generously proportioned bedroom with natural light. The full bathroom features a single-sink vanity and tub/shower combination. Neutral finishes throughout provide a clean, move-in-ready feel with flexibility for future updates. The unit includes assigned parking and access to community amenities including an outdoor in-ground pool. Located east of Garfield and south of Clinton River Road in the Chippewa Valley School District, with nearby shopping, dining, and commuter routes. Suitable for owner-occupants or investors seeking low-maintenance condominium living.

18. 2026-02-23
    price $75,000 818-char remark

    Show marketing remark (818 chars)

    Ground-level one-bedroom, one-bath ranch-style condominium in the Fern Hill Manor community offering convenient single-level living. The layout includes a comfortable living area, an eat-in kitchen with ample cabinet storage and tile flooring, and a generously proportioned bedroom with natural light. The full bathroom features a single-sink vanity and tub/shower combination. Neutral finishes throughout provide a clean, move-in-ready feel with flexibility for future updates. The unit includes assigned parking and access to community amenities including an outdoor in-ground pool. Located east of Garfield and south of Clinton River Road in the Chippewa Valley School District, with nearby shopping, dining, and commuter routes. Suitable for owner-occupants or investors seeking low-maintenance condominium living.

19. 2026-01-09
    listed $79,995 Active 818-char remark

    Show marketing remark (818 chars)

    Ground-level one-bedroom, one-bath ranch-style condominium in the Fern Hill Manor community offering convenient single-level living. The layout includes a comfortable living area, an eat-in kitchen with ample cabinet storage and tile flooring, and a generously proportioned bedroom with natural light. The full bathroom features a single-sink vanity and tub/shower combination. Neutral finishes throughout provide a clean, move-in-ready feel with flexibility for future updates. The unit includes assigned parking and access to community amenities including an outdoor in-ground pool. Located east of Garfield and south of Clinton River Road in the Chippewa Valley School District, with nearby shopping, dining, and commuter routes. Suitable for owner-occupants or investors seeking low-maintenance condominium living.

20. 2026-01-09
    listed $79,995 Active 818-char remark

    Show marketing remark (818 chars)

    Ground-level one-bedroom, one-bath ranch-style condominium in the Fern Hill Manor community offering convenient single-level living. The layout includes a comfortable living area, an eat-in kitchen with ample cabinet storage and tile flooring, and a generously proportioned bedroom with natural light. The full bathroom features a single-sink vanity and tub/shower combination. Neutral finishes throughout provide a clean, move-in-ready feel with flexibility for future updates. The unit includes assigned parking and access to community amenities including an outdoor in-ground pool. Located east of Garfield and south of Clinton River Road in the Chippewa Valley School District, with nearby shopping, dining, and commuter routes. Suitable for owner-occupants or investors seeking low-maintenance condominium living.

21. 2024-05-28
    soldstatus $56,000
22. 2012-04-20
    soldstatus $17,250
23. 2012-04-20
    soldstatus $17,250
24. 2012-04-20
    soldstatus $17,250
25. 2012-03-29
    historical
26. 2012-03-29
    historical
27. 2012-03-26
    listed $14,900
28. 2012-03-23
    listed $14,900
29. 2012-03-23
    listed $14,900
30. 2005-02-02
    soldstatus $1,100,000

ⓘ 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: $1,704 · $142/mo
• Projected year-2 tax: $1,704 · $142/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,624
• − Mortgage interest: −$3,921
• − Property taxes: −$1,704
• − Insurance: −$350
• − Repairs & maintenance: −$930
• − Management: −$930
• − HOA: −$3,180
• − Depreciation: −$2,036
• Taxable loss: −$1,428
• Est. tax savings @ 24.0%: +$343
• After-tax cash flow: $-114/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: Chippewa Valley Schools
• NCES district ID: 2609570
• Math proficiency: 39% ▼ -10.00%
• Reading proficiency: 50% ▼ -4.00%
• Median HH income: $64,964
• Composite: 39.61/100
• National rank: #3922
• State rank: #133 of 540 in MI

Livability — Clinton

• Score: 70/100
• State rank: #315
• US rank: #7703

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Macomb County · 638,552 people
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 44,422
• Household income: $78,567
• Rent vs Own: 37.7% rent · 62.3% own
• Severe rent burden: 1788.0

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 (77%)
• Race & ethnicity: White 77% Black 11% Two or more races 7% Asian 3% Hispanic / Latino 2%
• Common ancestry: Romanian 16% Lithuanian 3% Iranian 2%
• Foreign-born: 11% · Canada, Vietnam
• Languages at home: 86% English-only · Other Indo-European 5% Russian/Polish/Slavic 2% Arabic 2%

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: ▼ -212.31%
• Current HPI: 261.3877
• Rent YoY: ▼ -0.92%
• 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

-93.6% since first listed

16 events — show timeline

• 2026-05-09 Price Changed $70,000 MiRealSource-MiMLS
• 2026-05-09 Price Changed $70,000 REALCOMP
• 2026-02-24 Price Changed $75,000 MiRealSource-MiMLS
• 2026-02-23 Price Changed $75,000 REALCOMP
• 2026-01-09 Listed $79,995 REALCOMP
• 2026-01-09 Listed $79,995 MiRealSource-MiMLS
• 2024-05-28 Sold (Public Records) $56,000 Public Records
• 2012-04-20 Sold (MLS) $17,250 MiRealSource-MiMLS
• 2012-04-20 Sold (MLS) $17,250 MiRealSource-MiMLS
• 2012-04-20 Sold (MLS) $17,250 REALCOMP
• 2012-03-29 Listing Removed — MiRealSource-MiMLS
• 2012-03-29 Listing Removed — MiRealSource-MiMLS
• 2012-03-26 Listed $14,900 MiRealSource-MiMLS
• 2012-03-23 Listed $14,900 MiRealSource-MiMLS
• 2012-03-23 Listed $14,900 REALCOMP
• 2005-02-02 Sold (Public Records) $1,100,000 Public Records

Property tax history

+6.1%/yr

Latest (2025): $1,704 · +50.4% YoY. Source: county tax records.