38513 Wellington Dr · Mount Clemens, MI 48036

$105,900

2 bd · 1.0 ba · 1,000 sqft · Condo · 27 Days on market

Built 1990 Fair condition $106/sqft · at area comps Est $110k · at est. $280/mo HOA · 22% 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 +12.7/30.0
• ARV discount +9.2/15.0
• 1% rule +7.0/10.0
• Livability +3.9/5.0
• DSCR +3.8/10.0
• Rent growth +3.3/5.0
• Condition / age +2.2/5.0
• Schools +0.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

"Nice upper unit condo with vaulted ceilings and a galley-style kitchen. This home offers two bedrooms, a full bath, and a convenient laundry room. Enjoy the balcony off the great room with great views. All offers are subject to probate court approval. Pre-approved buyers only, with 24-hour notice required to show.

Key facts

• $280 HOA
• Built 1990
• Listed 27 days

Property features AI

Finance

• Other: Pets allowed — contact for details
• HOA & community: Homeowners association present; HOA fee $280 per month

Exterior

• Parking: No garage; Carport
• Utilities: Public water; Public sewer
• Home design: Condominium (residential); One level; Upper-level entry with steps
• Construction: Vinyl siding; Slab foundation
• Exterior features: Balcony; Paved road access

Interior

• Kitchen: No appliances explicitly listed for kitchen
• Bedrooms: Total of 5 rooms (bedrooms included)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Ceiling fans
• Interior features: Gas water heater; Balcony
• Laundry & utility: In-unit laundry hookups; Washer hookup; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $106k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $-12 ($-141/yr) — negative.
• To cash-flow at today's rent, offer at most $104k (1.6% below list).
• Meets the 1% rule at list price ($1k rent vs $106k).
• Recommended offer: $104k (1.6% below list) — sets the bar for cash-flow.
• Cap rate 6.2% vs local median 3.0% in Mount Clemens — 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 77/100 on livability (#120 in MI, #2,918 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D+, crime D+, amenities D+.
• Mount Clemens Community School District (suburban): math 4% / reading 11% proficiency, ranked #532 of 540 in MI (top 98%) — 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: Rents rising (+3.1%/yr); 117 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 47% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $732 of loan paydown is wiped out by about $3k 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 27 days — a 2% lower offer ($104k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 30y 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 $42k; list at $106k implies a 152% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $104,205 (1.6% 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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
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. 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?
7. 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?
8. 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?
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: 1.20% ✓
• Cap rate: 6.16%
• Cash-on-cash: -0.47%
• DSCR: 0.98
• GRM: 7.0

CMA / ARV

• ARV (median comp): $110,017
• List price: $105,900
• Delta: -3.74%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.12% rent growth · sell at horizon

5-year hold

• IRR: -16.7%
• Equity multiple: 0.41×
• Total profit: $-17,562
• Equity at exit: $15,790

10-year hold

• IRR: -7.8%
• Equity multiple: 0.50×
• Total profit: $-14,847
• Equity at exit: $9,156

Cash invested: $29,652 (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 48036

• Home prices YoY: -29.2%
• Rents YoY: 3.1%
• Active inventory: 117
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,266 high
• Mortgage (P&I): −$555
• Tax est. 1.5%: −$132 /mo · $1,588/yr
• Insurance: −$44
• HOA: −$280
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $-12

Break-even live

Break-even rent $1,281

Max offer price $104,205

Occupancy floor 96%

Sensitivity live

Price	-10% $61	-5% $25	+0% $-12	+5% $-48	+10% $-85
Rent	-10% $-112	-5% $-62	+0% $-12	+5% $38	+10% $88
Rate	-1.0pp $42	-0.5pp $15	base $-12	+0.5pp $-39	+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: $26,475
• Closing costs: $3,177
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
38539 Wellington Dr #19 Clinton Twp, MI	2.0	1.0	1092	$1,400	$1.28	44d	1	0.02mi
23128 Wellington Cres Clinton Twp, MI	1.0–2.0	1.0	850	$1,375	$1.62	0d	6	0.17mi
23560 Denton St Clinton Twp, MI	1.0–2.0	1.0	650	$1,100	$1.69	4d	1	0.67mi
24120 Denise Blvd Clinton Twp, MI	1.0–2.0	1.0	800	$940	$1.18	44d	1	0.82mi
23970 Newberry Dr Clinton Twp, MI	2.0	1.0	864	$950	$1.10	2d	1	0.93mi
104 Crocker Blvd Mt Clemens, MI	2.0	1.0	854	$1,250	$1.46	6d	1	0.97mi
269 Dickinson St Unit 1 Mt Clemens, MI	1.0	1.0	700	$890	$1.27	44d	1	1.01mi
70 Crocker Blvd Mt Clemens, MI	2.0	1.0	950	$1,400	$1.47	11d	1	1.02mi
64 Crocker Blvd Mt Clemens, MI	2.0	1.0	950	$1,250	$1.32	44d	1	1.02mi
24382 Eastwood Village Ct Clinton Twp, MI	1.0–2.0	1.0	825	$1,460	$1.77	0d	8	1.19mi
15 Washington St Unit 2 Mt Clemens, MI	3.0	1.0	1396	$1,400	$1.00	44d	1	1.29mi
24646 N Elda Ct Harrison Twp, MI	1.0–2.0	1.0	700	$930	$1.33	44d	1	1.32mi
36420 Union Lake Rd Harrison Twp, MI	1.0	1.0	800	$1,110	$1.39	0d	2	1.40mi
135 N River Rd Mount Clemens, MI	1.0	1.0	800	$905	$1.13	13d	2	1.45mi
20 Lincoln St Unit 225 Mt Clemens, MI	2.0	1.0	816	$1,200	$1.47	44d	1	1.48mi

HOA detail condo

• Monthly dues: $280 · $3,360/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 42 events

1. 2026-06-13
   statusdays on market $105,900 Pending 27 DOM
2. 2026-06-09
   days on market $105,900 Active Under Contract 26 DOM
3. 2026-06-08
   days on market $105,900 Active Under Contract 25 DOM
4. 2026-06-07
   days on market $105,900 Active Under Contract 24 DOM
5. 2026-06-04
   days on market $105,900 Active Under Contract 21 DOM
6. 2026-06-03
   days on market $105,900 Active Under Contract 20 DOM
7. 2026-06-02
   days on market $105,900 Active Under Contract 19 DOM
8. 2026-06-01
   days on market $105,900 Active Under Contract 18 DOM
9. 2026-05-31
   days on market $105,900 Active Under Contract 17 DOM
10. 2026-05-15
    listed $105,900 Active 321-char remark

    Show marketing remark (321 chars)

    "Nice upper unit condo with vaulted ceilings and a galley-style kitchen. This home offers two bedrooms, a full bath, and a convenient laundry room. Enjoy the balcony off the great room with great views. All offers are subject to probate court approval. Pre-approved buyers only, with 24-hour notice required to show.

11. 2026-05-15
    listed $105,900 Active 321-char remark

    Show marketing remark (321 chars)

    "Nice upper unit condo with vaulted ceilings and a galley-style kitchen. This home offers two bedrooms, a full bath, and a convenient laundry room. Enjoy the balcony off the great room with great views. All offers are subject to probate court approval. Pre-approved buyers only, with 24-hour notice required to show.

12. 2026-05-13
    historical $105,900 321-char remark

    Show marketing remark (321 chars)

    "Nice upper unit condo with vaulted ceilings and a galley-style kitchen. This home offers two bedrooms, a full bath, and a convenient laundry room. Enjoy the balcony off the great room with great views. All offers are subject to probate court approval. Pre-approved buyers only, with 24-hour notice required to show.

13. 2013-04-15
    soldstatus $42,000

    Show marketing remark (227 chars)

    Very spacious upper floor end unit condo in great condition. Freshly painted, new carpeting, updated furnace & water tank + appliances included! Homes has carport and club house access. Private Balcony off the great room

14. 2013-04-15
    soldstatus $42,000

    Show marketing remark (227 chars)

    Very spacious upper floor end unit condo in great condition. Freshly painted, new carpeting, updated furnace & water tank + appliances included! Homes has carport and club house access. Private Balcony off the great room

15. 2013-04-14
    historical

    Show marketing remark (227 chars)

    Very spacious upper floor end unit condo in great condition. Freshly painted, new carpeting, updated furnace & water tank + appliances included! Homes has carport and club house access. Private Balcony off the great room

16. 2013-04-14
    historical

    Show marketing remark (227 chars)

    Very spacious upper floor end unit condo in great condition. Freshly painted, new carpeting, updated furnace & water tank + appliances included! Homes has carport and club house access. Private Balcony off the great room

17. 2013-03-05
    listed $45,000

    Show marketing remark (227 chars)

    Very spacious upper floor end unit condo in great condition. Freshly painted, new carpeting, updated furnace & water tank + appliances included! Homes has carport and club house access. Private Balcony off the great room

18. 2013-03-05
    listed $45,000

    Show marketing remark (227 chars)

    Very spacious upper floor end unit condo in great condition. Freshly painted, new carpeting, updated furnace & water tank + appliances included! Homes has carport and club house access. Private Balcony off the great room

19. 2012-10-22
    soldstatus $30,000
20. 2012-10-22
    soldstatus $30,000
21. 2012-09-28
    historical
22. 2012-07-23
    listed $32,900
23. 2012-07-23
    listed $32,900
24. 2012-07-02
    historical
25. 2012-07-02
    historical
26. 2012-04-20
    listed $39,500
27. 2012-04-20
    listed $39,500
28. 2010-09-17
    soldstatus $15,500
29. 2010-09-17
    soldstatus $15,500
30. 2010-08-20
    historical
31. 2010-08-09
    listed $14,900
32. 2010-08-09
    listed $14,900
33. 2001-11-20
    soldstatus $84,350
34. 2001-09-26
    historical
35. 2001-07-16
    listed $85,500
36. 1996-10-30
    soldstatus $58,000
37. 1996-10-30
    soldstatus $58,000
38. 1996-09-19
    historical
39. 1996-08-22
    listed $62,000
40. 1996-08-22
    listed $62,000
41. 1996-08-20
    historical
42. 1996-05-20
    listed $63,500

ⓘ 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 5/10 Major FEMA zone X (unshaded) · 26% 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: $15,192
• − Mortgage interest: −$5,932
• − Property taxes: −$1,588
• − Insurance: −$530
• − Repairs & maintenance: −$1,215
• − Management: −$1,215
• − HOA: −$3,360
• − Depreciation: −$3,081
• Taxable loss: −$1,729
• Est. tax savings @ 24.0%: +$415
• After-tax cash flow: $275/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 · 1 photo

Fair 45/100 Moderate rehab

This upper unit condo requires moderate renovations, primarily focusing on the kitchen and flooring, to improve its condition and value. The home's exterior and landscaping are in good condition, making it a solid investment opportunity.

Repairs flagged

• Major kitchen appliances — The kitchen appears outdated and lacks modern appliances.
• Minor bathroom fixtures — Standard fixtures but show signs of wear.
• Moderate flooring — The flooring in the common areas looks worn and may need replacement or refinishing.
• Minor interior paint — The interior walls show some discoloration and wear, which can be addressed with a fresh coat of paint.

Value-add opportunities

• Resale Modern kitchen appliances — Upgrading the kitchen will attract more buyers and increase the home's appeal.
• Resale Fresh paint — A fresh coat of paint can significantly improve the home's curb appeal and interior aesthetics.
• Resale New flooring — Replacing worn-out flooring will enhance the home's overall appearance and value.
• Both Landscaping improvements — Enhancing the landscaping can increase both the home's resale and rental value by making it more attractive and inviting.

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen appliances · The kitchen appears outdated and lacks modern appliances.	Major	$15,000–50,000
bathroom fixtures · Standard fixtures but show signs of wear.	Minor	$500–3,000
flooring · The flooring in the common areas looks worn and may need replacement or refinishing.	Moderate	$3,000–15,000
interior paint · The interior walls show some discoloration and wear, which can be addressed with a fresh coat of paint.	Minor	$500–3,000
Total estimated repair cost · 4 items		$19,000–71,000

Value-add ROI direction

• Resale Modern kitchen appliances — Upgrading the kitchen will attract more buyers and increase the home's appeal. ↑
• Resale Fresh paint — A fresh coat of paint can significantly improve the home's curb appeal and interior aesthetics. ↑
• Resale New flooring — Replacing worn-out flooring will enhance the home's overall appearance and value. ↑
• Both Landscaping improvements — Enhancing the landscaping can increase both the home's resale and rental value by making it more attractive and inviting. ↑

ⓘ 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: Mount Clemens Community School District
• NCES district ID: 2624690
• Math proficiency: 4% ▼ -9.00%
• Reading proficiency: 11% ▼ -7.00%
• Median HH income: $36,632
• Composite: 6.25/100
• National rank: #10005
• State rank: #532 of 540 in MI

Livability — Mount Clemens

• Score: 77/100
• State rank: #120
• US rank: #2918

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Macomb County · 638,552 people
• City population: 15,429
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 22,538
• Household income: $70,071
• Rent vs Own: 29.5% rent · 70.5% own
• Severe rent burden: 514.0

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 (65%)
• Race & ethnicity: White 65% Black 21% Two or more races 8% Hispanic / Latino 5% Asian 3%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 13% Lithuanian 3% English 2%
• Foreign-born: 4% · Canada, China, Jamaica
• Languages at home: 94% English-only · Spanish 3% Chinese 1% 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: ▼ -111.99%
• Current HPI: 270.9126
• Rent YoY: ▲ 3.12%
• 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

+66.8% since first listed

37 events — show timeline

• 2026-06-10 Pending — REALCOMP
• 2026-06-10 Pending — MiRealSource-MiMLS
• 2026-05-21 Contingent — MiRealSource-MiMLS
• 2026-05-21 Contingent — REALCOMP
• 2026-05-15 Listed $105,900 MiRealSource-MiMLS
• 2026-05-15 Listed $105,900 REALCOMP
• 2026-05-13 Coming Soon $105,900 MiRealSource-MiMLS
• 2013-04-15 Sold (MLS) $42,000 MiRealSource-MiMLS
• 2013-04-15 Sold (MLS) $42,000 REALCOMP
• 2013-04-14 Listing Removed — MiRealSource-MiMLS
• 2013-04-14 Listing Removed — REALCOMP
• 2013-03-05 Listed $45,000 MiRealSource-MiMLS
• 2013-03-05 Listed $45,000 REALCOMP
• 2012-10-22 Sold (MLS) $30,000 REALCOMP
• 2012-10-22 Sold (MLS) $30,000 MiRealSource-MiMLS
• 2012-09-28 Listing Removed — MiRealSource-MiMLS
• 2012-07-23 Listed $32,900 REALCOMP
• 2012-07-23 Listed $32,900 MiRealSource-MiMLS
• 2012-07-02 Listing Removed — MiRealSource-MiMLS
• 2012-07-02 Listing Removed — REALCOMP
• 2012-04-20 Listed $39,500 MiRealSource-MiMLS
• 2012-04-20 Listed $39,500 REALCOMP
• 2010-09-17 Sold (MLS) $15,500 REALCOMP
• 2010-09-17 Sold (MLS) $15,500 MiRealSource-MiMLS
• 2010-08-20 Listing Removed — MiRealSource-MiMLS
• 2010-08-09 Listed $14,900 REALCOMP
• 2010-08-09 Listed $14,900 MiRealSource-MiMLS
• 2001-11-20 Sold (MLS) $84,350 MiRealSource-MiMLS
• 2001-09-26 Listing Removed — MiRealSource-MiMLS
• 2001-07-16 Listed $85,500 MiRealSource-MiMLS
• 1996-10-30 Sold (MLS) $58,000 REALCOMP
• 1996-10-30 Sold (MLS) $58,000 MiRealSource-MiMLS
• 1996-09-19 Listing Removed — MiRealSource-MiMLS
• 1996-08-22 Listed $62,000 REALCOMP
• 1996-08-22 Listed $62,000 MiRealSource-MiMLS
• 1996-08-20 Listing Removed — REALCOMP
• 1996-05-20 Listed $63,500 REALCOMP