45770 Kensington St · Utica, MI 48317

$71,500

2 bd · 1.5 ba · 864 sqft · Condo

Built 1970

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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 +11.1/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• DSCR +3.2/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

CO-OP CASH ONLY! Beautiful, well cared for CO-OP located in very sought after village square complex. Town house with basement and newer roof. All mechanical items and appliances are newer. Tastefully decorated throughout and very clean. Gas heat, water, and maintenance are included in association fee. All appliances stay. Furniture included! Ready to move in!

Key facts

• Built 1970

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $72k.

Deal economics

• At list price, monthly cash flow is $-29 ($-351/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $72k).
• Cap rate 5.8% vs local median 3.4% in Utica — 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 78/100 on livability (#106 in MI, #2,586 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, health & safety D+, employment D.
• Utica Community Schools (suburban): math 38% / reading 53% proficiency, ranked #126 of 540 in MI (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+3.4%/yr); 106 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $494 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

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 4y 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.

Risks & watch-outs

• Watch-outs: HOA is 42% of rent.

Recommended offer $71,500

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. 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. 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?
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: 1.75% ✓
• Cap rate: 5.80%
• Cash-on-cash: -1.76%
• DSCR: 0.92
• GRM: 4.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.4% rent growth · sell at horizon

5-year hold

• IRR: -17.6%
• Equity multiple: 0.37×
• Total profit: $-12,604
• Equity at exit: $10,661

10-year hold

• IRR: -7.4%
• Equity multiple: 0.51×
• Total profit: $-9,895
• Equity at exit: $6,182

Cash invested: $20,020 (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 48317

• Rents YoY: 3.4%
• Active inventory: 106
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,253 high
• Mortgage (P&I): −$375
• Tax est. 1.5%: −$89 /mo · $1,072/yr
• Insurance: −$30
• HOA est. from 2 same-building comps: −$525
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $-29

Break-even live

Break-even rent $1,290

Max offer price $67,262

Occupancy floor 97%

Sensitivity live

Price	-10% $20	-5% $-5	+0% $-29	+5% $-54	+10% $-79
Rent	-10% $-128	-5% $-79	+0% $-29	+5% $20	+10% $70
Rate	-1.0pp $7	-0.5pp $-11	base $-29	+0.5pp $-48	+1.0pp $-67

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: $17,875
• Closing costs: $2,145
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
45631 Harry St Utica, MI	1.0–2.0	1.0	762	$1,295	$1.70	0d	7	0.69mi
8310 Hall Rd Utica, MI	1.0	1.0	650	$945	$1.45	21d	1	0.99mi
8310 Hall Rd Utica, MI	1.0	1.0	650	$945	$1.45	25d	2	0.99mi
45850 Cass Ave Apt 3 Utica, MI	2.0	1.0	800	$1,200	$1.50	44d	1	1.05mi
45850 Cass Ave Apt 3 Utica, MI	2.0	1.0	800	$1,200	$1.50	13d	1	1.05mi
45835 Brownell St Utica, MI	1.0	1.0	800	$1,150	$1.44	44d	1	1.15mi
45631 Brownell St Unit 17 Utica, MI	2.0	1.0	850	$1,235	$1.45	44d	1	1.15mi
7650 Greeley St Utica, MI	1.0–2.0	1.0	662	$1,250	$1.89	23d	2	1.30mi
44677 Schoenherr Rd Sterling Heights, MI	1.0–2.0	1.0–2.0	700	$1,800	$2.57	0d	4	1.37mi
8254 Mary Ann Ave Unit 1032359P Shelby Township, MI	2.0–4.0	1.0–2.0	1517	$6,618	$4.36	2d	2	1.43mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: watergas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2025-10-10
   listed $71,500
2. 2025-10-10
   listed Under Contract
3. 2023-06-26
   soldstatus $72,000 Sold 362-char remark

   Show marketing remark (362 chars)

   CO-OP CASH ONLY! Beautiful, well cared for CO-OP located in very sought after village square complex. Town house with basement and newer roof. All mechanical items and appliances are newer. Tastefully decorated throughout and very clean. Gas heat, water, and maintenance are included in association fee. All appliances stay. Furniture included! Ready to move in!

4. 2023-06-26
   soldstatus $72,000 Closed 362-char remark

   Show marketing remark (362 chars)

   CO-OP CASH ONLY! Beautiful, well cared for CO-OP located in very sought after village square complex. Town house with basement and newer roof. All mechanical items and appliances are newer. Tastefully decorated throughout and very clean. Gas heat, water, and maintenance are included in association fee. All appliances stay. Furniture included! Ready to move in!

5. 2023-06-06
   status Pending 362-char remark

   Show marketing remark (362 chars)

   CO-OP CASH ONLY! Beautiful, well cared for CO-OP located in very sought after village square complex. Town house with basement and newer roof. All mechanical items and appliances are newer. Tastefully decorated throughout and very clean. Gas heat, water, and maintenance are included in association fee. All appliances stay. Furniture included! Ready to move in!

6. 2023-06-06
   status Pending 362-char remark

   Show marketing remark (362 chars)

   CO-OP CASH ONLY! Beautiful, well cared for CO-OP located in very sought after village square complex. Town house with basement and newer roof. All mechanical items and appliances are newer. Tastefully decorated throughout and very clean. Gas heat, water, and maintenance are included in association fee. All appliances stay. Furniture included! Ready to move in!

7. 2023-05-03
   historical Accepting Backup Offers 362-char remark

   Show marketing remark (362 chars)

   CO-OP CASH ONLY! Beautiful, well cared for CO-OP located in very sought after village square complex. Town house with basement and newer roof. All mechanical items and appliances are newer. Tastefully decorated throughout and very clean. Gas heat, water, and maintenance are included in association fee. All appliances stay. Furniture included! Ready to move in!

8. 2023-05-03
   historical Accepting Backup Offers 362-char remark

   Show marketing remark (362 chars)

   CO-OP CASH ONLY! Beautiful, well cared for CO-OP located in very sought after village square complex. Town house with basement and newer roof. All mechanical items and appliances are newer. Tastefully decorated throughout and very clean. Gas heat, water, and maintenance are included in association fee. All appliances stay. Furniture included! Ready to move in!

9. 2022-12-16
   listed $71,500 Active 362-char remark

   Show marketing remark (362 chars)

   CO-OP CASH ONLY! Beautiful, well cared for CO-OP located in very sought after village square complex. Town house with basement and newer roof. All mechanical items and appliances are newer. Tastefully decorated throughout and very clean. Gas heat, water, and maintenance are included in association fee. All appliances stay. Furniture included! Ready to move in!

10. 2022-12-16
    listed $71,500 Active 362-char remark

    Show marketing remark (362 chars)

    CO-OP CASH ONLY! Beautiful, well cared for CO-OP located in very sought after village square complex. Town house with basement and newer roof. All mechanical items and appliances are newer. Tastefully decorated throughout and very clean. Gas heat, water, and maintenance are included in association fee. All appliances stay. Furniture included! Ready to move in!

ⓘ 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 · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,035
• − Mortgage interest: −$4,005
• − Property taxes: −$1,072
• − Insurance: −$358
• − Repairs & maintenance: −$1,203
• − Management: −$1,203
• − HOA: −$6,300
• − Depreciation: −$2,080
• Taxable loss: −$1,185
• Est. tax savings @ 24.0%: +$284
• After-tax cash flow: $-67/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: Utica Community Schools
• NCES district ID: 2634470
• Math proficiency: 38% ▼ -13.00%
• Reading proficiency: 53% ▼ -7.00%
• Median HH income: $65,953
• Composite: 40.52/100
• National rank: #3709
• State rank: #126 of 540 in MI

Livability — Utica

• Score: 78/100
• State rank: #106
• US rank: #2586

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Utica, MI
• County: Macomb County · 638,552 people
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 27,565
• Household income: $72,917
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 1531.0

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 (79%)
• Race & ethnicity: White 79% Asian 6% Two or more races 6% Black 5% Hispanic / Latino 4%
• Common ancestry: Romanian 13% Lithuanian 4% Slovak 2%
• Foreign-born: 18% · Canada, China, South Korea
• Languages at home: 79% English-only · Other Indo-European 6% Arabic 5% Russian/Polish/Slavic 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: ▼ -279.31%
• Current HPI: 195.6447
• Rent YoY: ▲ 3.40%
• 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

+0.0% since first listed

10 events — show timeline

• 2025-10-10 Listed — ForSaleByOwner.com
• 2025-10-10 Listed $71,500 ForSaleByOwner.com
• 2023-06-26 Sold (MLS) $72,000 MiRealSource-MiMLS
• 2023-06-26 Sold (MLS) $72,000 REALCOMP
• 2023-06-06 Pending — MiRealSource-MiMLS
• 2023-06-06 Pending — REALCOMP
• 2023-05-03 Contingent — MiRealSource-MiMLS
• 2023-05-03 Contingent — REALCOMP
• 2022-12-16 Listed $71,500 MiRealSource-MiMLS
• 2022-12-16 Listed $71,500 REALCOMP