3895 Old Creek Rd · Troy, MI 48084

$225,000

2 bd · 1.5 ba · 1,548 sqft · Condo public records · 69 Days on market

Built 1974 $145/sqft · at area comps Est $286k · 21% under $376/mo HOA · 16% of rent

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Why this score? — see what drove the C 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 +15.4/30.0
• ARV discount +15.0/15.0
• Schools +6.5/10.0
• 1% rule +5.4/10.0
• DSCR +4.7/10.0
• Livability +3.9/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

End-unit condo located in the Troy School District offering a spacious layout and convenient location close to shopping, dining, and major roadways. The main living area flows into the dining space, creating an open and functional floor plan. Recent updates include new carpet in the living room, dining room, staircase, hallway, and all upstairs bedrooms, along with fresh interior paint throughout the home. The bathroom includes a newly installed bathtub, and recent plumbing updates have been completed. The property also features a new hot water tank. Bedrooms offer comfortable space and storage, and the end-unit location allows for additional natural light. The building roof was replaced approximately four years ago, according to the association. Community amenities include tennis courts and a swimming pool. Conveniently located near shopping, restaurants, and expressways.

Key facts

• $376 HOA
• Built 1974
• Listed 68 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $225k.

Deal economics

• At list price, monthly cash flow is $88 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $225k).
• Recommended offer: $212k (6.0% below list) — sets the bar for market timing.
• Cap rate 6.8% vs local median 3.6% in Troy — 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 (#113 in MI, #2,684 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, schools A; Watch: health & safety D+, amenities F, commute F.
• Troy School District (urban): math 68% / reading 75% proficiency, ranked #8 of 540 in MI (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: Rents soft (-0.4%/yr); 59 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Oakland County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 69 days — a 6% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 26y ago; this cycle's ask has dropped $35k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $134k; list at $225k implies a 67% gain — meaningful room to come down on a strong offer.

Recommended offer $211,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1974 — 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. 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. Schools are A-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?
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: 1.04% ✓
• Cap rate: 6.76%
• Cash-on-cash: 1.68%
• DSCR: 1.07
• GRM: 8.0

CMA / ARV

• ARV (median comp): $285,967
• List price: $225,000
• Delta: -21.32%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -17.4%
• Equity multiple: 0.40×
• Total profit: $-37,571
• Equity at exit: $33,548

10-year hold

• IRR: -17.6%
• Equity multiple: 0.18×
• Total profit: $-51,423
• Equity at exit: $19,454

Cash invested: $63,000 (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 48084

• Rents YoY: -0.4%
• Active inventory: 59
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $2,349 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$118 /mo · $1,412/yr
• Insurance: −$94
• HOA: −$376
• Vacancy / Maint / Mgmt: −$493
• Net cashflow: $88

Break-even live

Break-even rent $2,237

Max offer price $225,000

Occupancy floor 91%

Sensitivity live

Price	-10% $215	-5% $152	+0% $88	+5% $24	+10% $-39
Rent	-10% $-98	-5% $-5	+0% $88	+5% $181	+10% $274
Rate	-1.0pp $201	-0.5pp $145	base $88	+0.5pp $30	+1.0pp $-30

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3668 Old Creek Rd Unit 0 Troy, MI	3.0	3.0	1600	$2,700	$1.69	25d	1	0.23mi
3965 Westcreek Dr Troy, MI	2.0	2.0	1150	$2,360	$2.05	3d	6	0.30mi
4165 Crooks Rd Troy, MI	3.0	2.0	1334	$2,500	$1.87	5d	1	0.48mi
3165 Alpine Rd Troy, MI	3.0	1.5	2154	$2,300	$1.07	25d	1	1.08mi
2869 Troy Center Dr Troy, MI	1.0–3.0	1.0	909	$1,574	$1.73	25d	13	1.10mi
2690 Crooks Rd Troy, MI	1.0–2.0	1.0–2.0	1259	$2,635	$2.09	0d	1	1.15mi
2845 Summers Pl Troy, MI	3.0	2.5	1665	$3,600	$2.16	44d	1	1.20mi
2751 Melcombe Cir Troy, MI	1.0–3.0	1.0–2.5	1687	$2,644	$1.57	0d	30	1.27mi
1129 Kirts Blvd Unit D Troy, MI	2.0	1.5	1200	$2,400	$2.00	44d	1	1.29mi
561 Kirts Blvd Troy, MI	1.0–2.0	1.0–1.5	975	$1,899	$1.95	3d	18	1.36mi
1911 Golfview Dr Troy, MI	1.0–3.0	1.0–2.0	1300	$1,910	$1.47	0d	18	1.41mi

HOA detail condo

• Monthly dues: $376 · $4,512/yr
• Likely covers: waterpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 28 events

1. 2026-06-18
   days on market $225,000 Active 69 DOM
2. 2026-06-17
   days on market $225,000 Active 68 DOM
3. 2026-06-16
   days on market $225,000 Active 67 DOM
4. 2026-06-15
   days on market $225,000 Active 66 DOM
5. 2026-06-13
   days on market $225,000 Active 64 DOM
6. 2026-06-13
   days on market $225,000 Active 63 DOM
7. 2026-06-09
   days on market $225,000 Active 60 DOM
8. 2026-06-08
   days on market $225,000 Active 59 DOM
9. 2026-06-07
   days on market $225,000 Active 58 DOM
10. 2026-06-04
    days on market $225,000 Active 55 DOM
11. 2026-06-03
    days on market $225,000 Active 54 DOM
12. 2026-06-02
    days on market $225,000 Active 53 DOM
13. 2026-06-01
    days on market $225,000 Active 52 DOM
14. 2026-05-31
    days on market $225,000 Active 51 DOM
15. 2026-05-16
    price $243,000 885-char remark

    Show marketing remark (885 chars)

    End-unit condo located in the Troy School District offering a spacious layout and convenient location close to shopping, dining, and major roadways. The main living area flows into the dining space, creating an open and functional floor plan. Recent updates include new carpet in the living room, dining room, staircase, hallway, and all upstairs bedrooms, along with fresh interior paint throughout the home. The bathroom includes a newly installed bathtub, and recent plumbing updates have been completed. The property also features a new hot water tank. Bedrooms offer comfortable space and storage, and the end-unit location allows for additional natural light. The building roof was replaced approximately four years ago, according to the association. Community amenities include tennis courts and a swimming pool. Conveniently located near shopping, restaurants, and expressways.

16. 2026-05-15
    price $243,000 885-char remark

    Show marketing remark (885 chars)

    End-unit condo located in the Troy School District offering a spacious layout and convenient location close to shopping, dining, and major roadways. The main living area flows into the dining space, creating an open and functional floor plan. Recent updates include new carpet in the living room, dining room, staircase, hallway, and all upstairs bedrooms, along with fresh interior paint throughout the home. The bathroom includes a newly installed bathtub, and recent plumbing updates have been completed. The property also features a new hot water tank. Bedrooms offer comfortable space and storage, and the end-unit location allows for additional natural light. The building roof was replaced approximately four years ago, according to the association. Community amenities include tennis courts and a swimming pool. Conveniently located near shopping, restaurants, and expressways.

17. 2026-05-02
    price $245,000 885-char remark

    Show marketing remark (885 chars)

    End-unit condo located in the Troy School District offering a spacious layout and convenient location close to shopping, dining, and major roadways. The main living area flows into the dining space, creating an open and functional floor plan. Recent updates include new carpet in the living room, dining room, staircase, hallway, and all upstairs bedrooms, along with fresh interior paint throughout the home. The bathroom includes a newly installed bathtub, and recent plumbing updates have been completed. The property also features a new hot water tank. Bedrooms offer comfortable space and storage, and the end-unit location allows for additional natural light. The building roof was replaced approximately four years ago, according to the association. Community amenities include tennis courts and a swimming pool. Conveniently located near shopping, restaurants, and expressways.

18. 2026-05-01
    price $245,000 885-char remark

    Show marketing remark (885 chars)

    End-unit condo located in the Troy School District offering a spacious layout and convenient location close to shopping, dining, and major roadways. The main living area flows into the dining space, creating an open and functional floor plan. Recent updates include new carpet in the living room, dining room, staircase, hallway, and all upstairs bedrooms, along with fresh interior paint throughout the home. The bathroom includes a newly installed bathtub, and recent plumbing updates have been completed. The property also features a new hot water tank. Bedrooms offer comfortable space and storage, and the end-unit location allows for additional natural light. The building roof was replaced approximately four years ago, according to the association. Community amenities include tennis courts and a swimming pool. Conveniently located near shopping, restaurants, and expressways.

19. 2026-04-21
    price $250,000 885-char remark

    Show marketing remark (885 chars)

    End-unit condo located in the Troy School District offering a spacious layout and convenient location close to shopping, dining, and major roadways. The main living area flows into the dining space, creating an open and functional floor plan. Recent updates include new carpet in the living room, dining room, staircase, hallway, and all upstairs bedrooms, along with fresh interior paint throughout the home. The bathroom includes a newly installed bathtub, and recent plumbing updates have been completed. The property also features a new hot water tank. Bedrooms offer comfortable space and storage, and the end-unit location allows for additional natural light. The building roof was replaced approximately four years ago, according to the association. Community amenities include tennis courts and a swimming pool. Conveniently located near shopping, restaurants, and expressways.

20. 2026-04-21
    price $250,000 885-char remark

    Show marketing remark (885 chars)

    End-unit condo located in the Troy School District offering a spacious layout and convenient location close to shopping, dining, and major roadways. The main living area flows into the dining space, creating an open and functional floor plan. Recent updates include new carpet in the living room, dining room, staircase, hallway, and all upstairs bedrooms, along with fresh interior paint throughout the home. The bathroom includes a newly installed bathtub, and recent plumbing updates have been completed. The property also features a new hot water tank. Bedrooms offer comfortable space and storage, and the end-unit location allows for additional natural light. The building roof was replaced approximately four years ago, according to the association. Community amenities include tennis courts and a swimming pool. Conveniently located near shopping, restaurants, and expressways.

21. 2026-04-11
    listed $260,000 Active 885-char remark

    Show marketing remark (885 chars)

    End-unit condo located in the Troy School District offering a spacious layout and convenient location close to shopping, dining, and major roadways. The main living area flows into the dining space, creating an open and functional floor plan. Recent updates include new carpet in the living room, dining room, staircase, hallway, and all upstairs bedrooms, along with fresh interior paint throughout the home. The bathroom includes a newly installed bathtub, and recent plumbing updates have been completed. The property also features a new hot water tank. Bedrooms offer comfortable space and storage, and the end-unit location allows for additional natural light. The building roof was replaced approximately four years ago, according to the association. Community amenities include tennis courts and a swimming pool. Conveniently located near shopping, restaurants, and expressways.

22. 2026-04-11
    listed $260,000 Active 885-char remark

    Show marketing remark (885 chars)

    End-unit condo located in the Troy School District offering a spacious layout and convenient location close to shopping, dining, and major roadways. The main living area flows into the dining space, creating an open and functional floor plan. Recent updates include new carpet in the living room, dining room, staircase, hallway, and all upstairs bedrooms, along with fresh interior paint throughout the home. The bathroom includes a newly installed bathtub, and recent plumbing updates have been completed. The property also features a new hot water tank. Bedrooms offer comfortable space and storage, and the end-unit location allows for additional natural light. The building roof was replaced approximately four years ago, according to the association. Community amenities include tennis courts and a swimming pool. Conveniently located near shopping, restaurants, and expressways.

23. 2026-04-07
    historical $260,000 885-char remark

    Show marketing remark (885 chars)

    End-unit condo located in the Troy School District offering a spacious layout and convenient location close to shopping, dining, and major roadways. The main living area flows into the dining space, creating an open and functional floor plan. Recent updates include new carpet in the living room, dining room, staircase, hallway, and all upstairs bedrooms, along with fresh interior paint throughout the home. The bathroom includes a newly installed bathtub, and recent plumbing updates have been completed. The property also features a new hot water tank. Bedrooms offer comfortable space and storage, and the end-unit location allows for additional natural light. The building roof was replaced approximately four years ago, according to the association. Community amenities include tennis courts and a swimming pool. Conveniently located near shopping, restaurants, and expressways.

24. 2001-01-05
    soldstatus $134,500
25. 2000-08-26
    historical
26. 2000-05-26
    listed $149,900
27. 1978-12-01
    soldstatus $65,900
28. 1978-04-01
    soldstatus $43,000

ⓘ 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: $1,412 · $118/mo
• Projected year-2 tax: $2,439 · $203/mo
• Expected delta: +$1,026/yr (+$86/mo · 72.7%)

ⓘ 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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,183
• − Mortgage interest: −$12,603
• − Property taxes: −$1,412
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,255
• − Management: −$2,255
• − HOA: −$4,512
• − Depreciation: −$6,545
• Taxable loss: −$2,525
• Est. tax savings @ 24.0%: +$606
• After-tax cash flow: $1,662/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: Troy School District
• NCES district ID: 2634260
• Math proficiency: 68% ▼ -3.00%
• Reading proficiency: 75% ▼ -2.00%
• Median HH income: $90,920
• Composite: 64.5/100
• National rank: #539
• State rank: #8 of 540 in MI

Livability — Troy

• Score: 78/100
• State rank: #113
• US rank: #2684

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Troy, MI
• County: Oakland County · 1,009,092 people
• City population: 87,898
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 15,960
• Household income: $107,098
• Rent vs Own: 54.2% rent · 45.8% own
• Severe rent burden: 549.0

Population outlook (Oakland County) Hauer SSP2

• Today (2025): 1,335,747 people
• By 2030: 1,375,100 · +2.9%
• By 2040: 1,435,385 · +7.5%
• By 2050: 1,469,250 · +10.0%
• By 2075: 1,531,946 · +14.7%
• By 2100: 1,450,485 · +8.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 53% Asian 33% Black 6% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Romanian 8% Subsaharan African 2% Lithuanian 2%
• Foreign-born: 35% · China, Canada, South Korea
• Languages at home: 62% English-only · Other Asian/Pacific 14% Other Indo-European 10% Chinese 4%

Political lean MEDSL · Oakland

• 2024 margin: D (+10.6) · D 54.4% · R 43.8% · Other 1.9%
• 2008→2024 swing: -3.9pp toward R · 2008: 14.5pp · 2024: 10.6pp
• All cycles: 2024: D+10.6 2020: D+14.1 2016: D+8.1 2012: D+8.1 2008: D+14.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -271.49%
• Current HPI: 193.1193
• Rent YoY: ▼ -0.37%
• 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

+465.1% since first listed

14 events — show timeline

• 2026-05-16 Price Changed $243,000 MiRealSource-MiMLS
• 2026-05-15 Price Changed $243,000 REALCOMP
• 2026-05-02 Price Changed $245,000 MiRealSource-MiMLS
• 2026-05-01 Price Changed $245,000 REALCOMP
• 2026-04-21 Price Changed $250,000 MiRealSource-MiMLS
• 2026-04-21 Price Changed $250,000 REALCOMP
• 2026-04-11 Listed $260,000 MiRealSource-MiMLS
• 2026-04-11 Listed $260,000 REALCOMP
• 2026-04-07 Coming Soon $260,000 MiRealSource-MiMLS
• 2001-01-05 Sold (Public Records) $134,500 Public Records
• 2000-08-26 Listing Removed — REALCOMP
• 2000-05-26 Listed $149,900 REALCOMP
• 1978-12-01 Sold (Public Records) $65,900 Public Records
• 1978-04-01 Sold (Public Records) $43,000 Public Records

Property tax history

+0.1%/yr

Latest (2025): $1,412 · -17.4% YoY. Source: county tax records.