42564 Saratoga Rd #31 · Canton, MI 48187

$169,900

2 bd · 1.0 ba · 1,107 sqft · Condo · 26 Days on market

Built 1983 $153/sqft · 10% below area Est $189k · 10% under $343/mo HOA · 20% 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 +12.0/15.0
• Cash flow +7.8/30.0
• Schools +5.6/10.0
• 1% rule +4.9/10.0
• Rent growth +2.9/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This updated Canton condo has it all! Brand new paint throughout the entire condo, brand new carpet on the stairs. LVP flooring & ceramic tile throughout the rest of the condo. Attached garage. In unit laundry room. Large Primary suite with walk in closet. Sliding glass door leads out to the peaceful balcony. HOA covers water, snow, and exterior maintenance. Immediate occupancy. Award winning Plymouth-Canton Schools

Key facts

• New carpet
• Attached garage
• New paint

Tags

• NEW PAINT
• NEW CARPET
• LVP FLOORING
• CERAMIC TILE
• ATTACHED GARAGE
• IN UNIT LAUNDRY ROOM

Property features AI

Finance

• Other: Pets allowed
• HOA & community: Homeowners association with monthly fee; Association amenities include grounds maintenance; Association fee covers maintenance of grounds, sewer, snow removal, and water

Exterior

• Parking: Attached garage with direct access and garage door opener; 1 garage space
• Security: Carbon monoxide detector(s); Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Condominium; Residential property; One level; Entry located on upper level with steps; Vinyl siding
• Construction: Vinyl siding exterior; Slab foundation
• Exterior features: Balcony; Exterior lighting; Private entrance; Paved road access; Sidewalks

Interior

• Kitchen: Dishwasher; Disposal; Free-standing electric range; Free-standing refrigerator; Microwave
• Bedrooms: Upper-level entry with steps
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: High speed internet; Unfurnished
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $170k.

Deal economics

• At list price, monthly cash flow is $-192 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $142k (16.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $168k (1.3% below list).
• Recommended offer: $142k (16.3% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Plymouth-Canton Community Schools (suburban): math 58% / reading 66% proficiency, ranked #27 of 540 in MI (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+1.6%/yr); 180 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent is only 17% of the median local income ($120k/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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 23y 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.
• Current owner paid $1k; list at $170k implies a 13492% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.

Recommended offer $142,156 (16.3% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.99% ✗
• Cap rate: 4.94%
• Cash-on-cash: -4.84%
• DSCR: 0.78
• GRM: 8.4

CMA / ARV

• ARV (median comp): $188,666
• List price: $169,900
• Delta: -9.95%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.58% rent growth · sell at horizon

5-year hold

• IRR: -26.5%
• Equity multiple: 0.12×
• Total profit: $-41,870
• Equity at exit: $25,333

10-year hold

• IRR: -30.7%
• Equity multiple: -0.27×
• Total profit: $-60,651
• Equity at exit: $14,690

Cash invested: $47,572 (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 48187

• Rents YoY: 1.6%
• Active inventory: 180
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,678 high
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,548/yr
• Insurance: −$71
• HOA: −$343
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $-192

Break-even live

Break-even rent $1,920

Max offer price $142,156

Occupancy floor —

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6900 Foxthorn Canton, MI	2.0	1.0	922	$1,488	$1.61	2d	10	0.03mi
7620 N Lilley Rd Canton, MI	2.0	2.5	1300	$2,376	$1.83	2d	1	0.51mi
7655 Balmoral Dr Canton, MI	1.0–2.0	1.0–2.0	895	$1,750	$1.96	1d	5	0.54mi
5600 Fordham Cir Canton, MI	1.0–3.0	1.0–2.5	868	$1,892	$2.18	2d	12	0.80mi
42256 Addison Ave Canton, MI	1.0–2.0	1.0	962	$1,643	$1.71	2d	4	1.02mi
41718 Bedford Dr Canton, MI	2.0	1.0	1100	$1,450	$1.32	12d	1	1.02mi
2105 Sheldon Rd Apt 210 Canton Township, MI	1.0	1.0	700	$925	$1.32	43d	1	1.28mi
5955 Edinburgh St Canton, MI	1.0–2.0	1.0	800	$1,265	$1.58	24d	8	1.31mi
5955 Edinburgh St Canton, MI	1.0–2.0	1.0	800	$1,510	$1.89	2d	10	1.31mi
44435 Savery Dr Canton, MI	2.0	1.0	995	$1,500	$1.51	14d	1	1.32mi
7710 Shaw Ln Canton, MI	2.0	2.0	1300	$2,418	$1.86	1d	2	1.33mi
41299 Heathmore Ct Canton, MI	1.0–2.0	1.0–2.0	750	$1,600	$2.13	43d	1	1.33mi
44567 Savery Dr Canton, MI	3.0	1.5	1218	$2,250	$1.85	43d	1	1.40mi
42740 Lilley Pointe Dr Canton, MI	2.0	2.0	1167	$1,550	$1.33	43d	1	1.42mi
42714 Lilley Pointe Dr #213 Canton, MI	2.0	2.0	1028	$1,625	$1.58	43d	1	1.43mi
9126 N Lilley Rd Plymouth, MI	1.0–2.0	1.0	847	$1,199	$1.41	5d	6	1.45mi
39872 Lynn St Canton, MI	3.0	1.0	1278	$1,750	$1.37	1d	1	1.45mi
42766 Lilley Pointe Dr Canton, MI	2.0	2.0	1142	$1,600	$1.40	43d	1	1.46mi

HOA detail condo

• Monthly dues: $343 · $4,116/yr
• Likely covers: waterexterior maint.
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 25 events

1. 2026-06-18
   days on market $169,900 Active 26 DOM
2. 2026-06-17
   days on market $169,900 Active 25 DOM
3. 2026-06-16
   days on market $169,900 Active 24 DOM
4. 2026-06-15
   days on market $169,900 Active 23 DOM
5. 2026-06-13
   days on market $169,900 Active 21 DOM
6. 2026-06-09
   days on market $169,900 Active 17 DOM
7. 2026-06-08
   days on market $169,900 Active 16 DOM
8. 2026-06-08
   status $169,900 Active 15 DOM
9. 2026-05-13
   listed $169,900 Active 425-char remark

   Show marketing remark (425 chars)

   This updated Canton condo has it all! Brand new paint throughout the entire condo, brand new carpet on the stairs. LVP flooring & ceramic tile throughout the rest of the condo. Attached garage. In unit laundry room. Large Primary suite with walk in closet. Sliding glass door leads out to the peaceful balcony. HOA covers water, snow, and exterior maintenance. Immediate occupancy. Award winning Plymouth-Canton Schools

10. 2026-05-13
    listed $169,900 Active 425-char remark

    Show marketing remark (425 chars)

    This updated Canton condo has it all! Brand new paint throughout the entire condo, brand new carpet on the stairs. LVP flooring & ceramic tile throughout the rest of the condo. Attached garage. In unit laundry room. Large Primary suite with walk in closet. Sliding glass door leads out to the peaceful balcony. HOA covers water, snow, and exterior maintenance. Immediate occupancy. Award winning Plymouth-Canton Schools

11. 2015-08-12
    soldstatus $1,250

    Show marketing remark (479 chars)

    B E S T- LEASE- I N- C A N T O N. PLYMOUTH CANTON SCHOOLS!! THIS REMODELED CANTON CONDO LOCATED MINUTES FROM ALL MAJOR EXPRESSWAYS. THIS END UNIT CONDO FEATURES AN ATTACHED GARAGE, REMODELED KITCHEN, A/C, , WITH A SPARKLING BATHROOM. MOVE IN CONDITION ALL THE WORK HAS BEEN DONE FOR YOU. RELAX ON THE WARM SUMMER NIGHTS WITH YOUR VERY OWN BALCONY. DON'T WAIT ON THIS, THIS IS WHAT YOU WOULD CALL A FAST CANTON MOVER! Small pets allowed with land lord approval, NO SMOKERS PLEASE.

12. 2015-08-11
    historical

    Show marketing remark (479 chars)

    B E S T- LEASE- I N- C A N T O N. PLYMOUTH CANTON SCHOOLS!! THIS REMODELED CANTON CONDO LOCATED MINUTES FROM ALL MAJOR EXPRESSWAYS. THIS END UNIT CONDO FEATURES AN ATTACHED GARAGE, REMODELED KITCHEN, A/C, , WITH A SPARKLING BATHROOM. MOVE IN CONDITION ALL THE WORK HAS BEEN DONE FOR YOU. RELAX ON THE WARM SUMMER NIGHTS WITH YOUR VERY OWN BALCONY. DON'T WAIT ON THIS, THIS IS WHAT YOU WOULD CALL A FAST CANTON MOVER! Small pets allowed with land lord approval, NO SMOKERS PLEASE.

13. 2015-07-31
    listed $1,250

    Show marketing remark (479 chars)

    B E S T- LEASE- I N- C A N T O N. PLYMOUTH CANTON SCHOOLS!! THIS REMODELED CANTON CONDO LOCATED MINUTES FROM ALL MAJOR EXPRESSWAYS. THIS END UNIT CONDO FEATURES AN ATTACHED GARAGE, REMODELED KITCHEN, A/C, , WITH A SPARKLING BATHROOM. MOVE IN CONDITION ALL THE WORK HAS BEEN DONE FOR YOU. RELAX ON THE WARM SUMMER NIGHTS WITH YOUR VERY OWN BALCONY. DON'T WAIT ON THIS, THIS IS WHAT YOU WOULD CALL A FAST CANTON MOVER! Small pets allowed with land lord approval, NO SMOKERS PLEASE.

14. 2015-02-27
    soldstatus $72,000 Sold
15. 2015-02-27
    soldstatus $72,000
16. 2015-02-23
    historical
17. 2015-02-23
    historical
18. 2015-02-22
    listed $85,000 Active
19. 2015-02-22
    listed $85,000
20. 2003-08-08
    soldstatus $123,000
21. 2003-06-26
    listed $129,900
22. 2003-06-05
    historical
23. 2003-05-01
    listed $131,900
24. 2003-04-30
    historical
25. 2003-03-28
    listed $139,000

ⓘ 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 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,133
• − Mortgage interest: −$9,517
• − Property taxes: −$2,548
• − Insurance: −$850
• − Repairs & maintenance: −$1,611
• − Management: −$1,611
• − HOA: −$4,116
• − Depreciation: −$4,943
• Taxable loss: −$5,062
• Est. tax savings @ 24.0%: +$1,215
• After-tax cash flow: $-1,086/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: Plymouth-Canton Community Schools
• NCES district ID: 2628560
• Math proficiency: 58% ▼ -5.00%
• Reading proficiency: 66% ▼ -1.00%
• Median HH income: $82,996
• Composite: 55.86/100
• National rank: #1204
• State rank: #27 of 540 in MI

Livability — Canton

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Wayne County · 1,562,939 people
• City population: 99,041
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 53,376
• Household income: $120,321
• Rent vs Own: 28.6% rent · 71.4% own
• Severe rent burden: 1006.0

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 1,675,273 people
• By 2030: 1,620,300 · -3.3%
• By 2040: 1,502,341 · -10.3%
• By 2050: 1,384,039 · -17.4%
• By 2075: 1,124,592 · -32.9%
• By 2100: 881,193 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Asian 17% Black 9% Two or more races 7% Hispanic / Latino 6%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 11% Italian 3% Slovak 2%
• Foreign-born: 18% · Canada, China, Vietnam
• Languages at home: 79% English-only · Other Indo-European 9% Other Asian/Pacific 3% Arabic 3%

Political lean MEDSL · Wayne

• 2024 margin: Strong D (+29.0) · D 62.7% · R 33.7% · Other 3.6%
• 2008→2024 swing: -20.5pp toward R · 2008: 49.5pp · 2024: 29.0pp
• All cycles: 2024: D+29.0 2020: D+38.1 2016: D+37.3 2012: D+46.9 2008: D+49.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -299.97%
• Current HPI: 198.75
• Rent YoY: ▲ 1.58%
• 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

+22.2% since first listed

21 events — show timeline

• 2026-06-07 Relisted — MiRealSource-MiMLS
• 2026-06-07 Relisted — REALCOMP
• 2026-05-28 Pending — MiRealSource-MiMLS
• 2026-05-28 Pending — REALCOMP
• 2026-05-13 Listed $169,900 REALCOMP
• 2026-05-13 Listed $169,900 MiRealSource-MiMLS
• 2015-08-12 Sold (MLS) $1,250 MiRealSource-MiMLS
• 2015-08-11 Listing Removed — MiRealSource-MiMLS
• 2015-07-31 Listed $1,250 MiRealSource-MiMLS
• 2015-02-27 Sold (MLS) $72,000 MiRealSource-MiMLS
• 2015-02-27 Sold (MLS) $72,000 REALCOMP
• 2015-02-23 Listing Removed — REALCOMP
• 2015-02-23 Listing Removed — MiRealSource-MiMLS
• 2015-02-22 Listed $85,000 REALCOMP
• 2015-02-22 Listed $85,000 MiRealSource-MiMLS
• 2003-08-08 Sold (MLS) $123,000 REALCOMP
• 2003-06-26 Listed $129,900 REALCOMP
• 2003-06-05 Listing Removed — REALCOMP
• 2003-05-01 Listed $131,900 REALCOMP
• 2003-04-30 Listing Removed — REALCOMP
• 2003-03-28 Listed $139,000 REALCOMP