23313 Edsel Ford Ct · St. Clair Shores, MI 48080

$120,000

2 bd · 1.0 ba · 743 sqft · Condo · 49 Days on market

Built 1948 Good condition $162/sqft · 10% below area Est $134k · 10% under $244/mo HOA · 17% of rent

---

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 +17.4/30.0
• ARV discount +12.2/15.0
• 1% rule +7.3/10.0
• DSCR +5.4/10.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Enjoy comfort and convenience in this clean, well-maintained, 2-bedroom, 1-bath condo in the heart of St. Clair Shores. Nestled in a quiet neighborhood near the vibrant Nautical Mile, known for its marinas, waterfront dining, and local charm, this unit offers private parking and easy access to lakefront parks and amenities. Part of the highly regarded South Lake School District, this is an excellent fit for anyone looking for a peaceful yet connected place to call home.

Key facts

• Private parking
• Quiet neighborhood
• Lakefront parks

Tags

• PRIVATE PARKING
• LAKEFRONT PARKS
• SOUTH LAKE SCHOOL DISTRICT
• QUIET NEIGHBORHOOD

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $120k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $90 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.2% vs local median 4.2% in St. Clair Shores — 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: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• South Lake Schools (suburban): math 11% / reading 26% proficiency, ranked #470 of 540 in MI (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 161 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $830 of loan paydown is wiped out by about $4k 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 49 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 14y 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 $22k; list at $120k implies a 458% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $116,400 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 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 1948 — 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
7. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
8. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 1.23% ✓
• Cap rate: 7.20%
• Cash-on-cash: 3.22%
• DSCR: 1.14
• GRM: 6.8

CMA / ARV

• ARV (median comp): $133,976
• List price: $120,000
• Delta: -10.43%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -11.1%
• Equity multiple: 0.60×
• Total profit: $-13,526
• Equity at exit: $17,892

10-year hold

• IRR: -1.6%
• Equity multiple: 0.89×
• Total profit: $-3,678
• Equity at exit: $10,375

Cash invested: $33,600 (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 48080

• Active inventory: 161
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,473 medium
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,800/yr
• Insurance: −$50
• HOA: −$244
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $90

Break-even live

Break-even rent $1,359

Max offer price $120,000

Occupancy floor 89%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24901 Jefferson Ave Unit 210 St Clair Shores, MI	2.0	1.0	700	$1,300	$1.86	5d	1	1.39mi

HOA detail condo

• Monthly dues: $244 · $2,928/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-07
   status $120,000 Pending 49 DOM
2. 2026-06-04
   days on market $120,000 Active 49 DOM
3. 2026-06-03
   days on market $120,000 Active 48 DOM
4. 2026-06-02
   days on market $120,000 Active 47 DOM
5. 2026-06-01
   days on market $120,000 Active 46 DOM
6. 2026-05-31
   days on market $120,000 Active 45 DOM
7. 2026-05-13
   price $120,000 474-char remark

   Show marketing remark (474 chars)

   Enjoy comfort and convenience in this clean, well-maintained, 2-bedroom, 1-bath condo in the heart of St. Clair Shores. Nestled in a quiet neighborhood near the vibrant Nautical Mile, known for its marinas, waterfront dining, and local charm, this unit offers private parking and easy access to lakefront parks and amenities. Part of the highly regarded South Lake School District, this is an excellent fit for anyone looking for a peaceful yet connected place to call home.

8. 2026-05-12
   price $120,000 474-char remark

   Show marketing remark (474 chars)

   Enjoy comfort and convenience in this clean, well-maintained, 2-bedroom, 1-bath condo in the heart of St. Clair Shores. Nestled in a quiet neighborhood near the vibrant Nautical Mile, known for its marinas, waterfront dining, and local charm, this unit offers private parking and easy access to lakefront parks and amenities. Part of the highly regarded South Lake School District, this is an excellent fit for anyone looking for a peaceful yet connected place to call home.

9. 2026-04-16
   listed $125,000 Active 474-char remark

   Show marketing remark (474 chars)

   Enjoy comfort and convenience in this clean, well-maintained, 2-bedroom, 1-bath condo in the heart of St. Clair Shores. Nestled in a quiet neighborhood near the vibrant Nautical Mile, known for its marinas, waterfront dining, and local charm, this unit offers private parking and easy access to lakefront parks and amenities. Part of the highly regarded South Lake School District, this is an excellent fit for anyone looking for a peaceful yet connected place to call home.

10. 2026-04-16
    historical $1,200

    Show marketing remark (474 chars)

    Enjoy comfort and convenience in this clean, well-maintained, 2-bedroom, 1-bath condo in the heart of St. Clair Shores. Nestled in a quiet neighborhood near the vibrant Nautical Mile, known for its marinas, waterfront dining, and local charm, this unit offers private parking and easy access to lakefront parks and amenities. Part of the highly regarded South Lake School District, this is an excellent fit for anyone looking for a peaceful yet connected place to call home.

11. 2026-04-16
    listed $125,000 Active 474-char remark

    Show marketing remark (474 chars)

    Enjoy comfort and convenience in this clean, well-maintained, 2-bedroom, 1-bath condo in the heart of St. Clair Shores. Nestled in a quiet neighborhood near the vibrant Nautical Mile, known for its marinas, waterfront dining, and local charm, this unit offers private parking and easy access to lakefront parks and amenities. Part of the highly regarded South Lake School District, this is an excellent fit for anyone looking for a peaceful yet connected place to call home.

12. 2026-02-25
    listed $1,200
13. 2025-05-06
    historical $1,200
14. 2025-04-22
    listed $1,200
15. 2012-06-28
    soldstatus $21,500
16. 2012-06-28
    soldstatus $21,500
17. 2012-06-20
    historical
18. 2012-06-20
    historical
19. 2012-06-12
    listed $25,000
20. 2012-06-12
    listed $25,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $17,674
• − Mortgage interest: −$6,722
• − Property taxes: −$1,800
• − Insurance: −$600
• − Repairs & maintenance: −$1,414
• − Management: −$1,414
• − HOA: −$2,928
• − Depreciation: −$3,491
• Taxable loss: −$695
• Est. tax savings @ 24.0%: +$167
• After-tax cash flow: $1,250/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 · 9 photos

Good 75/100 Cosmetic rehab

This well-maintained 2-bedroom condo offers a good starting point for a cosmetic renovation, with potential for significant value increase through updates to the kitchen and exterior.

Repairs flagged

• Minor kitchen cabinets — slight wear
• Minor bathroom fixtures — dated design

Value-add opportunities

• Both paint exterior — enhances curb appeal and value
• Both replace kitchen countertops — modernizes space and increases value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · slight wear	Minor	$500–3,000
bathroom fixtures · dated design	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Both paint exterior — enhances curb appeal and value ↑
• Both replace kitchen countertops — modernizes space and increases value ↑

ⓘ 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: South Lake Schools
• NCES district ID: 2632220
• Math proficiency: 11% ▼ -10.00%
• Reading proficiency: 26% ▼ -12.00%
• Median HH income: $51,594
• Composite: 16.76/100
• National rank: #9159
• State rank: #470 of 540 in MI

Livability — St. Clair Shores

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

Census & demographics

• Census place: St. Clair Shores, MI
• County: Macomb County · 638,552 people
• City population: 58,217
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 21,561
• Household income: $66,986
• Rent vs Own: 21.5% rent · 78.5% own
• Severe rent burden: 530.0

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 (83%)
• Race & ethnicity: White 83% Black 8% Two or more races 6% Hispanic / Latino 4% Asian 2%
• Common ancestry: Romanian 14% Lithuanian 5% Slovak 2%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 92% English-only · Other Indo-European 3% Spanish 2% Russian/Polish/Slavic 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: ▼ -236.99%
• Current HPI: 231.507
• Rent YoY: —
• 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

+380.0% since first listed

14 events — show timeline

• 2026-05-13 Price Changed $120,000 MiRealSource-MiMLS
• 2026-05-12 Price Changed $120,000 REALCOMP
• 2026-04-16 Listed $125,000 REALCOMP
• 2026-04-16 Rental Removed $1,200 REALSOURCE
• 2026-04-16 Listed $125,000 MiRealSource-MiMLS
• 2026-02-25 Listed for Rent $1,200 REALSOURCE
• 2025-05-06 Rental Removed $1,200 REALCOMP
• 2025-04-22 Listed for Rent $1,200 REALCOMP
• 2012-06-28 Sold (MLS) $21,500 REALCOMP
• 2012-06-28 Sold (MLS) $21,500 MiRealSource-MiMLS
• 2012-06-20 Listing Removed — REALCOMP
• 2012-06-20 Listing Removed — MiRealSource-MiMLS
• 2012-06-12 Listed $25,000 REALCOMP
• 2012-06-12 Listed $25,000 MiRealSource-MiMLS