4949 E 10 Mile Rd · Warren, MI 48091

$64,900

2 bd · 1.0 ba · 973 sqft · Condo · 34 Days on market

Built 1973 $290/mo HOA · 23% of rent

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great location and place on ground level priced to sell

Key facts

• $290 HOA
• Built 1973
• Listed 34 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $65k.

Deal economics

• At list price, monthly cash flow is $204 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $63k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.3% vs local median 5.3% in Warren — 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 74/100 on livability (#171 in MI, #4,491 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D, amenities D, employment D.
• Center Line Public Schools (suburban): math 14% / reading 29% proficiency, ranked #459 of 540 in MI (top 85%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.4%/yr); 168 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $449 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.
• At projected returns (-3.0% appreciation + 2.4% rent growth), your $18k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 33 sale attempts since 32y 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 $53k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; HOA is 23% of rent.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $62,953 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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: 1.97% ✓
• Cap rate: 11.29%
• Cash-on-cash: 17.86%
• DSCR: 1.79
• GRM: 4.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.35% rent growth · sell at horizon

5-year hold

• IRR: 2.7%
• Equity multiple: 1.10×
• Total profit: $1,887
• Equity at exit: $9,677

10-year hold

• IRR: 11.6%
• Equity multiple: 1.88×
• Total profit: $15,983
• Equity at exit: $5,611

Cash invested: $18,172 (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 48091

• Rents YoY: 2.4%
• Active inventory: 168
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,277 high
• Mortgage (P&I): −$340
• Tax est. 1.5%: −$81 /mo · $974/yr
• Insurance: −$27
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$290
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $204

Break-even live

Break-even rent $1,019

Max offer price $64,900

Occupancy floor 79%

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4652 E 10 Mile Rd Warren, MI	2.0	1.0	950	$1,200	$1.26	43d	1	0.17mi
4385 Frazho Rd Warren, MI	1.0–2.0	1.0	825	$1,305	$1.58	3d	6	0.54mi
3840 Bart Ave Warren, MI	3.0	1.0	1062	$1,350	$1.27	24d	1	1.05mi
22580 Masch Ave Warren, MI	3.0	1.0	988	$1,450	$1.47	24d	1	1.17mi
25005 Lawrence Ave Center Line, MI	1.0–2.0	1.0–1.5	1000	$955	$0.95	43d	1	1.20mi
22622 Panama Ave Warren, MI	3.0	1.5	920	$1,395	$1.52	10d	1	1.25mi
7212 Helen St Unit 7212 Center Line, MI	1.0	1.0	650	$1,000	$1.54	43d	1	1.29mi
2709 Capitol Ave Warren, MI	3.0	2.0	1056	$1,649	$1.56	43d	1	1.38mi

HOA detail condo

• Monthly dues: $290 · $3,480/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2024-12-17
   status Pending
2. 2022-06-17
   status Pending

   Show marketing remark (58 chars)

   Great location and place on ground level priced to sell

3. 2022-06-17
   status Pending 58-char remark

   Show marketing remark (58 chars)

   Great location and place on ground level priced to sell

4. 2022-05-21
   status Active

   Show marketing remark (58 chars)

   Great location and place on ground level priced to sell

5. 2022-05-21
   status Active 58-char remark

   Show marketing remark (58 chars)

   Great location and place on ground level priced to sell

6. 2022-05-08
   status Pending

   Show marketing remark (58 chars)

   Great location and place on ground level priced to sell

7. 2022-05-08
   status Pending 58-char remark

   Show marketing remark (58 chars)

   Great location and place on ground level priced to sell

8. 2022-05-02
   listed $64,900 Active

   Show marketing remark (58 chars)

   Great location and place on ground level priced to sell

9. 2022-05-02
   listed $64,900 Active 58-char remark

   Show marketing remark (58 chars)

   Great location and place on ground level priced to sell

10. 2021-04-01
    soldstatus $53,000 305-char remark

    Show marketing remark (305 chars)

    Specious Condo, 2nd floor unit Condo, fully remodeled. Ready to move in , 2 bed rooms. Master bedroom with walk in closet and also attached to walk in bathroom. Paint 2019, furnace 2011, Bathroom 2019. New spot lights 2020, new fridge and oven 2019 , new kitchen floor 2020 . Inground pool for Summer fun.

11. 2020-11-07
    listed $65,550 305-char remark

    Show marketing remark (305 chars)

    Specious Condo, 2nd floor unit Condo, fully remodeled. Ready to move in , 2 bed rooms. Master bedroom with walk in closet and also attached to walk in bathroom. Paint 2019, furnace 2011, Bathroom 2019. New spot lights 2020, new fridge and oven 2019 , new kitchen floor 2020 . Inground pool for Summer fun.

12. 2020-01-21
    soldstatus $37,500
13. 2019-10-11
    listed $38,900
14. 2017-03-31
    soldstatus $43,650
15. 2017-03-31
    soldstatus $43,650
16. 2017-02-10
    listed $48,000
17. 2017-02-10
    historical
18. 2017-02-10
    listed $48,000
19. 2017-02-10
    historical
20. 2017-01-05
    listed $48,000
21. 2017-01-05
    listed $48,000
22. 2017-01-05
    historical
23. 2017-01-03
    soldstatus $28,000
24. 2016-11-22
    listed $30,000
25. 2016-08-10
    listed $50,000
26. 2014-03-26
    soldstatus $38,000
27. 2014-02-28
    historical
28. 2013-10-31
    listed $40,000
29. 2011-06-28
    soldstatus $12,522
30. 2011-06-22
    historical
31. 2011-05-18
    listed $10,500
32. 2011-01-06
    soldstatus $11,001
33. 2010-12-14
    historical
34. 2010-07-02
    listed $12,000
35. 2008-09-05
    historical
36. 2007-08-24
    historical
37. 2007-05-22
    listed $50,000
38. 2007-05-22
    historical
39. 2007-04-12
    listed $55,000
40. 2007-04-12
    historical
41. 2007-02-27
    listed $59,900
42. 2007-02-27
    historical
43. 2007-01-17
    listed $65,000
44. 2007-01-17
    historical
45. 2006-12-01
    listed $65,000
46. 2006-10-14
    listed $65,000
47. 2005-12-12
    soldstatus $55,700
48. 2005-11-28
    historical
49. 2005-11-07
    historical
50. 2005-10-05
    listed $56,000

ⓘ 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 9/10 Extreme FEMA zone X (unshaded) · 99% 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: $15,327
• − Mortgage interest: −$3,635
• − Property taxes: −$974
• − Insurance: −$1,122
• − Repairs & maintenance: −$1,226
• − Management: −$1,226
• − HOA: −$3,480
• − Depreciation: −$1,888
• Taxable income: $1,775
• Est. tax owed @ 24.0%: −$426
• After-tax cash flow: $2,022/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: Center Line Public Schools
• NCES district ID: 2608580
• Math proficiency: 14% ▼ -8.00%
• Reading proficiency: 29% ▼ -3.00%
• Median HH income: $38,011
• Composite: 17.95/100
• National rank: #8992
• State rank: #459 of 540 in MI

Livability — Warren

• Score: 74/100
• State rank: #171
• US rank: #4491

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Warren, MI
• County: Macomb County · 638,552 people
• City population: 114,937
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 30,696
• Household income: $54,230
• Rent vs Own: 35.1% rent · 64.9% own
• Severe rent burden: 1296.0

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: Diverse neighborhood (Simpson 0.68)
• Race & ethnicity: White 47% Black 25% Asian 19% Two or more races 5% Hispanic / Latino 3% Native American 2%
• Common ancestry: Romanian 7% Lithuanian 2% Slovak 1%
• Foreign-born: 16% · Canada
• Languages at home: 77% English-only · Other Indo-European 14% Other Asian/Pacific 3% 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: ▼ -199.66%
• Current HPI: 177.9273
• Rent YoY: ▲ 2.35%
• 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

+54.9% since first listed

81 events — show timeline

• 2024-12-17 Pending — REALCOMP
• 2022-06-17 Pending — REALCOMP
• 2022-06-17 Pending — MiRealSource-MiMLS
• 2022-05-21 Relisted — REALCOMP
• 2022-05-21 Relisted — MiRealSource-MiMLS
• 2022-05-08 Pending — REALCOMP
• 2022-05-08 Pending — MiRealSource-MiMLS
• 2022-05-02 Listed $64,900 MiRealSource-MiMLS
• 2022-05-02 Listed $64,900 REALCOMP
• 2021-04-01 Sold (MLS) $53,000 REALCOMP
• 2020-11-07 Listed $65,550 REALCOMP
• 2020-01-21 Sold (MLS) $37,500 REALCOMP
• 2019-10-11 Listed $38,900 REALCOMP
• 2017-03-31 Sold (MLS) $43,650 REALCOMP
• 2017-03-31 Sold (MLS) $43,650 REALCOMP
• 2017-02-10 Listing Removed — REALCOMP
• 2017-02-10 Listed $48,000 REALCOMP
• 2017-02-10 Listing Removed — REALCOMP
• 2017-02-10 Listed $48,000 REALCOMP
• 2017-01-05 Listing Removed — REALCOMP
• 2017-01-05 Listed $48,000 REALCOMP
• 2017-01-05 Listed $48,000 REALCOMP
• 2017-01-03 Sold (MLS) $28,000 REALCOMP
• 2016-11-22 Listed $30,000 REALCOMP
• 2016-08-10 Listed $50,000 REALCOMP
• 2014-03-26 Sold (MLS) $38,000 MiRealSource-MiMLS
• 2014-02-28 Listing Removed — MiRealSource-MiMLS
• 2013-10-31 Listed $40,000 MiRealSource-MiMLS
• 2011-06-28 Sold (MLS) $12,522 MiRealSource-MiMLS
• 2011-06-22 Listing Removed — MiRealSource-MiMLS
• 2011-05-18 Listed $10,500 MiRealSource-MiMLS
• 2011-01-06 Sold (MLS) $11,001 MiRealSource-MiMLS
• 2010-12-14 Listing Removed — MiRealSource-MiMLS
• 2010-07-02 Listed $12,000 MiRealSource-MiMLS
• 2008-09-05 Listing Removed — MiRealSource-MiMLS
• 2007-08-24 Listing Removed — MiRealSource-MiMLS
• 2007-05-22 Listing Removed — MiRealSource-MiMLS
• 2007-05-22 Listed $50,000 MiRealSource-MiMLS
• 2007-04-12 Listing Removed — MiRealSource-MiMLS
• 2007-04-12 Listed $55,000 MiRealSource-MiMLS
• 2007-02-27 Listing Removed — MiRealSource-MiMLS
• 2007-02-27 Listed $59,900 MiRealSource-MiMLS
• 2007-01-17 Listing Removed — MiRealSource-MiMLS
• 2007-01-17 Listed $65,000 MiRealSource-MiMLS
• 2006-12-01 Listed $65,000 MiRealSource-MiMLS
• 2006-10-14 Listed $65,000 MiRealSource-MiMLS
• 2005-12-12 Sold (MLS) $55,700 MiRealSource-MiMLS
• 2005-11-28 Listing Removed — MiRealSource-MiMLS
• 2005-11-07 Listing Removed — MiRealSource-MiMLS
• 2005-10-05 Listed $56,000 MiRealSource-MiMLS
• 2005-06-12 Listed $65,000 MiRealSource-MiMLS
• 2003-09-22 Sold (MLS) $69,800 MiRealSource-MiMLS
• 2003-07-25 Listing Removed — MiRealSource-MiMLS
• 2003-04-02 Listed $67,800 MiRealSource-MiMLS
• 2002-06-19 Sold (MLS) $72,000 MiRealSource-MiMLS
• 2002-05-17 Listing Removed — MiRealSource-MiMLS
• 2002-05-03 Sold (MLS) $58,000 MiRealSource-MiMLS
• 2002-04-16 Listed $72,900 MiRealSource-MiMLS
• 2002-03-18 Listing Removed — MiRealSource-MiMLS
• 2002-02-22 Listed $58,200 MiRealSource-MiMLS
• 2000-05-25 Sold (MLS) $53,000 MiRealSource-MiMLS
• 2000-05-10 Listing Removed — MiRealSource-MiMLS
• 2000-04-03 Sold (MLS) $60,500 MiRealSource-MiMLS
• 2000-04-02 Listed $55,900 MiRealSource-MiMLS
• 2000-01-11 Listing Removed — MiRealSource-MiMLS
• 1999-11-09 Listed $63,500 MiRealSource-MiMLS
• 1997-10-17 Sold (MLS) $41,000 MiRealSource-MiMLS
• 1997-09-23 Listing Removed — MiRealSource-MiMLS
• 1997-08-07 Listed $45,000 MiRealSource-MiMLS
• 1997-06-23 Sold (MLS) $43,500 MiRealSource-MiMLS
• 1997-05-02 Listing Removed — MiRealSource-MiMLS
• 1997-01-07 Listed $46,000 MiRealSource-MiMLS
• 1996-09-06 Sold (MLS) $40,000 MiRealSource-MiMLS
• 1996-08-13 Listing Removed — MiRealSource-MiMLS
• 1996-07-15 Listed $43,500 MiRealSource-MiMLS
• 1996-06-05 Sold (MLS) $37,000 MiRealSource-MiMLS
• 1996-05-04 Listing Removed — MiRealSource-MiMLS
• 1996-04-28 Listed $39,900 MiRealSource-MiMLS
• 1994-07-19 Listing Removed — MiRealSource-MiMLS
• 1994-07-12 Sold (MLS) $39,000 MiRealSource-MiMLS
• 1994-03-16 Listed $41,900 MiRealSource-MiMLS