2229 Hillcrescent Dr · Troy, MI 48085

$355,000

3 bd · 1.5 ba · 2,003 sqft · SingleFamily public records · 6 Days on market

Built 1969 9,583 sqft lot $177/sqft · 16% below area Est $425k · 16% under $3/mo HOA

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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).

• ARV discount +14.9/15.0
• Cash flow +13.0/30.0
• Schools +6.5/10.0
• DSCR +3.9/10.0
• Livability +3.9/5.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Location, Location, Location! A RARE opportunity to own a lovingly held original owner home since 1969 in one of the area's most sought after locations. Walking distance to Hill Elementary, Larson Middle School, and Athens High School offers unsurpassed convenience. The sprawling covered front porch welcomes you home, while the large picture window fills the living room with natural light. The formal dining room flows into an eat in kitchen featuring a peninsula, buffet cabinetry, and a full appliance package. First floor laundry/mud room with washer and dryer included adds everyday convenience. The family room showcases a natural fireplace with hearth and mantle and leads to the doorwall out to a newer paver patio overlooking a fully fenced lot with mature trees. Three bedrooms feature natural hardwood floors, with the largest offering a walk in closet. The second level features the full bathroom with dual vanities. Additional highlights include updated windows, a newer dimensional roof, a brand new furnace installed February 2026, an updated hot water tank, and humidifier. The two car attached garage offers dual entries into the home for added functionality. Priced to reflect the opportunity for a personalized refresh, this home delivers exceptional value in a location that is truly hard to come by. A great find with incredible value & equity! Welcome Home!

Key facts

• 9,583 sq ft lot
• 2 garage spots
• Built 1969

Property features AI

Finance

• Other: Lot approximately 0.22 acres (80 x 119); No pool
• HOA & community: Homeowners association with an annual fee of $40 (about $3.33/month); Subdivision: MT VERNON ESTATES

Exterior

• Parking: Attached 2-car garage with garage door opener and direct access; Garage faces front and side
• Utilities: Public water; Public sewer; Circuit breaker electrical panel; Cable available; Underground utilities
• Home design: Single family residence; Two levels; Ground-level entry; Aluminum siding and brick exterior; Faces not specified
• Construction: Asphalt roof; Slab foundation; Built with aluminum siding and brick
• Exterior features: Covered patio and porch; Patio; Porch; Paved road access; Sidewalks on the street; Pets allowed

Interior

• Kitchen: Free-standing electric range; Range hood; Dishwasher; Free-standing refrigerator
• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Central air; Ceiling fan(s); Forced air heating; Natural gas heating; Humidifier
• Interior features: Entrance foyer; Wood-burning fireplace in the family room; Unfurnished
• Laundry & utility: Laundry room with washer and dryer hookups; Electric dryer hookup; Gas water heater; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $355k.

Deal economics

• At list price, monthly cash flow is $-20 ($-235/yr) — negative.
• To cash-flow at today's rent, offer at most $352k (1.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $295k (17.0% below list).
• Recommended offer: $295k (17.0% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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: 120 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 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 $11k 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Recommended offer $294,655 (17.0% 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. Built in 1969 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.83% ✗
• Cap rate: 6.23%
• Cash-on-cash: -0.24%
• DSCR: 0.99
• GRM: 10.0

CMA / ARV

• ARV (median comp): $425,138
• List price: $355,000
• Delta: -16.50%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2229 Hillcrescent Dr	0.00mi	3/1.5	2,003 (0%)	1mo	$380,000	$190	99
3896 Gate Dr	0.50mi	3/2.5	2,070 (+3%)	3mo	$406,000	$196	65
4856 Butler Dr	0.53mi	4/3.0 (+1)	1,988 (-1%)	0mo	$471,000	$237	63
3782 Anvil Dr	0.61mi	4/1.5 (+1)	2,029 (+1%)	3mo	$430,000	$212	62
2769 Renshaw Dr	0.68mi	3/2.5	1,984 (-1%)	1mo	$400,000	$202	62
4879 Stoddard Dr	0.46mi	4/1.5 (+1)	2,153 (+8%)	7mo	$385,000	$179	55
2635 Renshaw Dr	0.50mi	4/2.5 (+1)	2,161 (+8%)	4mo	$400,000	$185	52
4836 Alton Ct	0.74mi	4/1.5 (+1)	1,887 (-6%)	1mo	$303,000	$161	50
3724 Horseshoe Dr	0.69mi	3/1.5	1,815 (-9%)	3mo	$392,000	$216	50
3675 Anvil Dr	0.72mi	3/1.5	1,801 (-10%)	4mo	$305,000	$169	46
4812 Whitesell Dr	0.58mi	4/2.5 (+1)	1,868 (-7%)	8mo	$470,000	$252	46
2876 Quincy Dr	0.63mi	3/2.5	1,768 (-12%)	4mo	$409,000	$231	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -16.7%
• Equity multiple: 0.41×
• Total profit: $-58,795
• Equity at exit: $52,932

10-year hold

• IRR: -8.5%
• Equity multiple: 0.47×
• Total profit: $-52,891
• Equity at exit: $30,694

Cash invested: $99,400 (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 48085

• Active inventory: 120
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,947 high
• Mortgage (P&I): −$1,862
• Tax from tax record: −$335 /mo · $4,018/yr
• Insurance: −$148
• HOA: −$3
• Vacancy / Maint / Mgmt: −$619
• Net cashflow: $-20

Break-even live

Break-even rent $2,971

Max offer price $351,534

Occupancy floor 96%

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: $88,750
• Closing costs: $10,650
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4033 Ramblewood Dr Troy, MI	4.0	2.5	1906	$2,859	$1.50	43d	1	0.38mi
1880 Welling Dr Troy, MI	4.0	2.5	2421	$3,000	$1.24	4d	1	0.44mi
2233 Kettle Dr Troy, MI	3.0	1.5	2097	$2,500	$1.19	24d	1	0.58mi
39409 Dequindre Rd Troy, MI	4.0	2.5	1800	$2,300	$1.28	43d	1	0.74mi
2219 Belmont Dr Sterling Heights, MI	3.0	1.5	2560	$2,450	$0.96	43d	1	0.91mi
5363 English Dr Troy, MI	4.0	2.5	2515	$3,300	$1.31	1d	1	1.03mi
5054 Carnaby Dr Troy, MI	3.0	2.5	2228	$2,600	$1.17	3d	1	1.12mi
2497 Avalon Dr Troy, MI	3.0	2.0	1400	$2,500	$1.79	10d	1	1.13mi
4308 Navin Field Ln Troy, MI	4.0	3.0	2700	$4,150	$1.54	43d	1	1.16mi
1028 Lamb Rd Unit 2 Troy, MI	3.0	2.5	1847	$3,200	$1.73	18d	1	1.24mi
2226 Orpington Dr Troy, MI	3.0	2.0	1421	$2,495	$1.76	10d	1	1.25mi
3007 Warrington Dr Sterling Heights, MI	3.0	1.5	3000	$2,700	$0.90	19d	1	1.28mi
39327 Timberlane Dr Sterling Heights, MI	3.0	2.5	2500	$2,500	$1.00	19d	1	1.31mi
2946 Continental Dr Troy, MI	4.0	2.5	2400	$2,650	$1.10	1d	1	1.39mi

HOA detail

• Monthly dues: $3 · $36/yr
• Likely covers: water

Listing history 4 events

1. 2026-05-08
   status Pending 1387-char remark

   Show marketing remark (1387 chars)

   Location, Location, Location! A RARE opportunity to own a lovingly held original owner home since 1969 in one of the area's most sought after locations. Walking distance to Hill Elementary, Larson Middle School, and Athens High School offers unsurpassed convenience. The sprawling covered front porch welcomes you home, while the large picture window fills the living room with natural light. The formal dining room flows into an eat in kitchen featuring a peninsula, buffet cabinetry, and a full appliance package. First floor laundry/mud room with washer and dryer included adds everyday convenience. The family room showcases a natural fireplace with hearth and mantle and leads to the doorwall out to a newer paver patio overlooking a fully fenced lot with mature trees. Three bedrooms feature natural hardwood floors, with the largest offering a walk in closet. The second level features the full bathroom with dual vanities. Additional highlights include updated windows, a newer dimensional roof, a brand new furnace installed February 2026, an updated hot water tank, and humidifier. The two car attached garage offers dual entries into the home for added functionality. Priced to reflect the opportunity for a personalized refresh, this home delivers exceptional value in a location that is truly hard to come by. A great find with incredible value & equity! Welcome Home!

2. 2026-05-08
   status Pending 1387-char remark

   Show marketing remark (1387 chars)

   Location, Location, Location! A RARE opportunity to own a lovingly held original owner home since 1969 in one of the area's most sought after locations. Walking distance to Hill Elementary, Larson Middle School, and Athens High School offers unsurpassed convenience. The sprawling covered front porch welcomes you home, while the large picture window fills the living room with natural light. The formal dining room flows into an eat in kitchen featuring a peninsula, buffet cabinetry, and a full appliance package. First floor laundry/mud room with washer and dryer included adds everyday convenience. The family room showcases a natural fireplace with hearth and mantle and leads to the doorwall out to a newer paver patio overlooking a fully fenced lot with mature trees. Three bedrooms feature natural hardwood floors, with the largest offering a walk in closet. The second level features the full bathroom with dual vanities. Additional highlights include updated windows, a newer dimensional roof, a brand new furnace installed February 2026, an updated hot water tank, and humidifier. The two car attached garage offers dual entries into the home for added functionality. Priced to reflect the opportunity for a personalized refresh, this home delivers exceptional value in a location that is truly hard to come by. A great find with incredible value & equity! Welcome Home!

3. 2026-05-02
   listed $355,000 Active 1387-char remark

   Show marketing remark (1387 chars)

   Location, Location, Location! A RARE opportunity to own a lovingly held original owner home since 1969 in one of the area's most sought after locations. Walking distance to Hill Elementary, Larson Middle School, and Athens High School offers unsurpassed convenience. The sprawling covered front porch welcomes you home, while the large picture window fills the living room with natural light. The formal dining room flows into an eat in kitchen featuring a peninsula, buffet cabinetry, and a full appliance package. First floor laundry/mud room with washer and dryer included adds everyday convenience. The family room showcases a natural fireplace with hearth and mantle and leads to the doorwall out to a newer paver patio overlooking a fully fenced lot with mature trees. Three bedrooms feature natural hardwood floors, with the largest offering a walk in closet. The second level features the full bathroom with dual vanities. Additional highlights include updated windows, a newer dimensional roof, a brand new furnace installed February 2026, an updated hot water tank, and humidifier. The two car attached garage offers dual entries into the home for added functionality. Priced to reflect the opportunity for a personalized refresh, this home delivers exceptional value in a location that is truly hard to come by. A great find with incredible value & equity! Welcome Home!

4. 2026-05-02
   listed $355,000 Active 1387-char remark

   Show marketing remark (1387 chars)

   Location, Location, Location! A RARE opportunity to own a lovingly held original owner home since 1969 in one of the area's most sought after locations. Walking distance to Hill Elementary, Larson Middle School, and Athens High School offers unsurpassed convenience. The sprawling covered front porch welcomes you home, while the large picture window fills the living room with natural light. The formal dining room flows into an eat in kitchen featuring a peninsula, buffet cabinetry, and a full appliance package. First floor laundry/mud room with washer and dryer included adds everyday convenience. The family room showcases a natural fireplace with hearth and mantle and leads to the doorwall out to a newer paver patio overlooking a fully fenced lot with mature trees. Three bedrooms feature natural hardwood floors, with the largest offering a walk in closet. The second level features the full bathroom with dual vanities. Additional highlights include updated windows, a newer dimensional roof, a brand new furnace installed February 2026, an updated hot water tank, and humidifier. The two car attached garage offers dual entries into the home for added functionality. Priced to reflect the opportunity for a personalized refresh, this home delivers exceptional value in a location that is truly hard to come by. A great find with incredible value & equity! Welcome Home!

ⓘ 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: $4,018 · $335/mo
• Projected year-2 tax: $4,742 · $395/mo
• Expected delta: +$725/yr (+$60/mo · 18.0%)

ⓘ 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 (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $35,359
• − Mortgage interest: −$19,886
• − Property taxes: −$4,018
• − Insurance: −$1,775
• − Repairs & maintenance: −$2,829
• − Management: −$2,829
• − HOA: −$36
• − Depreciation: −$10,327
• Taxable loss: −$6,340
• Est. tax savings @ 24.0%: +$1,522
• After-tax cash flow: $1,286/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): 27,231
• Household income: $146,390
• Rent vs Own: 8.5% rent · 91.5% own
• Severe rent burden: 39.0

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: Predominantly White (68%)
• Race & ethnicity: White 68% Asian 21% Two or more races 5% Black 4% Hispanic / Latino 2%
• Common ancestry: Romanian 11% Italian 3% Slovak 2%
• Foreign-born: 26% · Canada, China, South Korea
• Languages at home: 72% English-only · Other Indo-European 9% Chinese 4% Other Asian/Pacific 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: ▼ -326.83%
• Current HPI: 184.4445
• 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

+7.0% since first listed

7 events — show timeline

• 2026-05-27 Sold (Public Records) $380,000 Public Records
• 2026-05-22 Sold (MLS) $380,000 MiRealSource-MiMLS
• 2026-05-22 Sold (MLS) $380,000 REALCOMP
• 2026-05-08 Pending — MiRealSource-MiMLS
• 2026-05-08 Pending — REALCOMP
• 2026-05-02 Listed $355,000 MiRealSource-MiMLS
• 2026-05-02 Listed $355,000 REALCOMP

Property tax history

+2.1%/yr

Latest (2025): $4,018 · +2.3% YoY. Source: county tax records.