8141 Denwood Dr · Sterling Heights, MI 48312

$89,900

2 bd · 1.0 ba · 930 sqft · Condo · 28 Days on market

Built 1965 $260/mo HOA · 19% 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 +24.6/30.0
• 1% rule +10.0/10.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This is a beautiful 2-bedroom updated Condo is MOVE-IN-READY. Coin operated laundry room in the basement with a reserved space for your belongings. The Complex offers a large in-ground community pool and courtyard for entertaining and gatherings. WATER AND GAS , structure and grounds maintenance included with monthly HOA. Buyer and buyer's agent to verify all the info and sizes. buyer and buyers agent to verify all the info.

Key facts

• $260 HOA
• Community pool
• Built 1965

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $90k.

Deal economics

• At list price, monthly cash flow is $186 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 3.8% in Sterling Heights — 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 (#173 in MI, #4,545 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools C-, health & safety D+, amenities F.
• Warren Consolidated Schools (urban): math 18% / reading 39% proficiency, ranked #373 of 540 in MI (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 159 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $622 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 28 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 17 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.

Recommended offer $88,551 (1.5% below list)

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.50% ✓
• Cap rate: 8.78%
• Cash-on-cash: 8.88%
• DSCR: 1.40
• GRM: 5.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -2.7%
• Equity multiple: 0.90×
• Total profit: $-2,526
• Equity at exit: $13,404

10-year hold

• IRR: 7.2%
• Equity multiple: 1.55×
• Total profit: $13,805
• Equity at exit: $7,773

Cash invested: $25,172 (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 48312

• Active inventory: 159
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,351 high
• Mortgage (P&I): −$471
• Tax est. 1.5%: −$112 /mo · $1,348/yr
• Insurance: −$37
• HOA: −$260
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $186

Break-even live

Break-even rent $1,116

Max offer price $89,900

Occupancy floor 81%

Sensitivity live

Price	-10% $248	-5% $217	+0% $186	+5% $155	+10% $124
Rent	-10% $79	-5% $133	+0% $186	+5% $240	+10% $293
Rate	-1.0pp $232	-0.5pp $209	base $186	+0.5pp $163	+1.0pp $139

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8100 Denwood Dr Sterling Heights, MI	1.0	1.0	525	$1,000	$1.90	15d	1	0.03mi
11221 14 Mile Rd Sterling Heights, MI	1.0–2.0	1.0–2.0	818	$1,550	$1.89	2d	6	0.62mi
34911 Van Dyke Ave Sterling Heights, MI	1.0	1.0–2.0	800	$1,300	$1.62	44d	1	0.64mi
8600 Beech Dr Sterling Heights, MI	1.0–2.0	1.0	900	$1,319	$1.47	2d	6	0.65mi
8484 Brougham Dr Sterling Heights, MI	1.0–3.0	1.0–2.0	857	$1,972	$2.30	2d	26	1.07mi
5800 Streefkerk Dr Warren, MI	1.0	1.0	560	$877	$1.57	3d	2	1.25mi
31727 Hoover Rd Unit 21 Warren, MI	2.0	1.0	900	$1,395	$1.55	5d	1	1.28mi
5924 Chicago Rd Warren, MI	1.0	1.0	1000	$1,500	$1.50	4d	1	1.38mi

HOA detail condo

• Monthly dues: $260 · $3,120/yr
• Likely covers: watergaslandscapingpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 42 events

1. 2026-05-31
   days on market $89,900 Active 28 DOM
2. 2026-04-22
   status Pending 428-char remark

   Show marketing remark (428 chars)

   This is a beautiful 2-bedroom updated Condo is MOVE-IN-READY. Coin operated laundry room in the basement with a reserved space for your belongings. The Complex offers a large in-ground community pool and courtyard for entertaining and gatherings. WATER AND GAS , structure and grounds maintenance included with monthly HOA. Buyer and buyer's agent to verify all the info and sizes. buyer and buyers agent to verify all the info.

3. 2026-04-22
   status Pending

   Show marketing remark (428 chars)

   This is a beautiful 2-bedroom updated Condo is MOVE-IN-READY. Coin operated laundry room in the basement with a reserved space for your belongings. The Complex offers a large in-ground community pool and courtyard for entertaining and gatherings. WATER AND GAS , structure and grounds maintenance included with monthly HOA. Buyer and buyer's agent to verify all the info and sizes. buyer and buyers agent to verify all the info.

4. 2026-04-08
   status Active

   Show marketing remark (428 chars)

   This is a beautiful 2-bedroom updated Condo is MOVE-IN-READY. Coin operated laundry room in the basement with a reserved space for your belongings. The Complex offers a large in-ground community pool and courtyard for entertaining and gatherings. WATER AND GAS , structure and grounds maintenance included with monthly HOA. Buyer and buyer's agent to verify all the info and sizes. buyer and buyers agent to verify all the info.

5. 2026-04-08
   status Active 428-char remark

   Show marketing remark (428 chars)

   This is a beautiful 2-bedroom updated Condo is MOVE-IN-READY. Coin operated laundry room in the basement with a reserved space for your belongings. The Complex offers a large in-ground community pool and courtyard for entertaining and gatherings. WATER AND GAS , structure and grounds maintenance included with monthly HOA. Buyer and buyer's agent to verify all the info and sizes. buyer and buyers agent to verify all the info.

6. 2026-02-23
   historical 428-char remark

   Show marketing remark (428 chars)

   This is a beautiful 2-bedroom updated Condo is MOVE-IN-READY. Coin operated laundry room in the basement with a reserved space for your belongings. The Complex offers a large in-ground community pool and courtyard for entertaining and gatherings. WATER AND GAS , structure and grounds maintenance included with monthly HOA. Buyer and buyer's agent to verify all the info and sizes. buyer and buyers agent to verify all the info.

7. 2026-02-13
   listed $89,900 Active 428-char remark

   Show marketing remark (428 chars)

   This is a beautiful 2-bedroom updated Condo is MOVE-IN-READY. Coin operated laundry room in the basement with a reserved space for your belongings. The Complex offers a large in-ground community pool and courtyard for entertaining and gatherings. WATER AND GAS , structure and grounds maintenance included with monthly HOA. Buyer and buyer's agent to verify all the info and sizes. buyer and buyers agent to verify all the info.

8. 2026-02-13
   listed $89,900 Active

   Show marketing remark (428 chars)

   This is a beautiful 2-bedroom updated Condo is MOVE-IN-READY. Coin operated laundry room in the basement with a reserved space for your belongings. The Complex offers a large in-ground community pool and courtyard for entertaining and gatherings. WATER AND GAS , structure and grounds maintenance included with monthly HOA. Buyer and buyer's agent to verify all the info and sizes. buyer and buyers agent to verify all the info.

9. 2026-02-10
   historical $89,900 428-char remark

   Show marketing remark (428 chars)

   This is a beautiful 2-bedroom updated Condo is MOVE-IN-READY. Coin operated laundry room in the basement with a reserved space for your belongings. The Complex offers a large in-ground community pool and courtyard for entertaining and gatherings. WATER AND GAS , structure and grounds maintenance included with monthly HOA. Buyer and buyer's agent to verify all the info and sizes. buyer and buyers agent to verify all the info.

10. 2022-10-04
    soldstatus $85,000 Closed 810-char remark

    Show marketing remark (810 chars)

    Beautiful and updated Ranch style Condo. End unit on the second floor overlooking the well maintained courtyard. Newer Kitchen with Maple cabinets, recessed lighting, ceramic floors and a large pantry. Note the Living Room length at 21 feet long with a great view. Plenty of space to entertain or spend time with your family. Bathroom has a newer maple cabinet and a recently glazed Bathtub. Fans throughout and recessed lighting. Mini Washing machine in the Living Room closet for small loads. Enjoy those hot days in the in-ground pool, it goes up to 5 feet of depth. Community Basement includes bike storage area, washer/dryer and a locked storage space. Association dues include pool access, heat, water, trash, exterior maintenance, grass cutting & snow removal. Great home with immediate occupancy!

11. 2022-10-04
    soldstatus $85,000

    Show marketing remark (810 chars)

    Beautiful and updated Ranch style Condo. End unit on the second floor overlooking the well maintained courtyard. Newer Kitchen with Maple cabinets, recessed lighting, ceramic floors and a large pantry. Note the Living Room length at 21 feet long with a great view. Plenty of space to entertain or spend time with your family. Bathroom has a newer maple cabinet and a recently glazed Bathtub. Fans throughout and recessed lighting. Mini Washing machine in the Living Room closet for small loads. Enjoy those hot days in the in-ground pool, it goes up to 5 feet of depth. Community Basement includes bike storage area, washer/dryer and a locked storage space. Association dues include pool access, heat, water, trash, exterior maintenance, grass cutting & snow removal. Great home with immediate occupancy!

12. 2022-09-26
    status Pending 810-char remark

    Show marketing remark (810 chars)

    Beautiful and updated Ranch style Condo. End unit on the second floor overlooking the well maintained courtyard. Newer Kitchen with Maple cabinets, recessed lighting, ceramic floors and a large pantry. Note the Living Room length at 21 feet long with a great view. Plenty of space to entertain or spend time with your family. Bathroom has a newer maple cabinet and a recently glazed Bathtub. Fans throughout and recessed lighting. Mini Washing machine in the Living Room closet for small loads. Enjoy those hot days in the in-ground pool, it goes up to 5 feet of depth. Community Basement includes bike storage area, washer/dryer and a locked storage space. Association dues include pool access, heat, water, trash, exterior maintenance, grass cutting & snow removal. Great home with immediate occupancy!

13. 2022-09-08
    price $85,500 810-char remark

    Show marketing remark (810 chars)

    Beautiful and updated Ranch style Condo. End unit on the second floor overlooking the well maintained courtyard. Newer Kitchen with Maple cabinets, recessed lighting, ceramic floors and a large pantry. Note the Living Room length at 21 feet long with a great view. Plenty of space to entertain or spend time with your family. Bathroom has a newer maple cabinet and a recently glazed Bathtub. Fans throughout and recessed lighting. Mini Washing machine in the Living Room closet for small loads. Enjoy those hot days in the in-ground pool, it goes up to 5 feet of depth. Community Basement includes bike storage area, washer/dryer and a locked storage space. Association dues include pool access, heat, water, trash, exterior maintenance, grass cutting & snow removal. Great home with immediate occupancy!

14. 2022-08-25
    listed $95,900 Active 810-char remark

    Show marketing remark (810 chars)

    Beautiful and updated Ranch style Condo. End unit on the second floor overlooking the well maintained courtyard. Newer Kitchen with Maple cabinets, recessed lighting, ceramic floors and a large pantry. Note the Living Room length at 21 feet long with a great view. Plenty of space to entertain or spend time with your family. Bathroom has a newer maple cabinet and a recently glazed Bathtub. Fans throughout and recessed lighting. Mini Washing machine in the Living Room closet for small loads. Enjoy those hot days in the in-ground pool, it goes up to 5 feet of depth. Community Basement includes bike storage area, washer/dryer and a locked storage space. Association dues include pool access, heat, water, trash, exterior maintenance, grass cutting & snow removal. Great home with immediate occupancy!

15. 2022-08-25
    listed $85,500

    Show marketing remark (810 chars)

    Beautiful and updated Ranch style Condo. End unit on the second floor overlooking the well maintained courtyard. Newer Kitchen with Maple cabinets, recessed lighting, ceramic floors and a large pantry. Note the Living Room length at 21 feet long with a great view. Plenty of space to entertain or spend time with your family. Bathroom has a newer maple cabinet and a recently glazed Bathtub. Fans throughout and recessed lighting. Mini Washing machine in the Living Room closet for small loads. Enjoy those hot days in the in-ground pool, it goes up to 5 feet of depth. Community Basement includes bike storage area, washer/dryer and a locked storage space. Association dues include pool access, heat, water, trash, exterior maintenance, grass cutting & snow removal. Great home with immediate occupancy!

16. 2009-07-07
    historical
17. 2009-04-03
    listed $69,900
18. 2008-12-29
    soldstatus $22,012
19. 2008-12-29
    soldstatus $22,012
20. 2008-12-04
    historical
21. 2008-09-29
    listed $16,900
22. 2008-09-29
    listed $16,900
23. 2008-09-27
    historical
24. 2008-09-27
    historical
25. 2008-08-31
    historical
26. 2008-06-27
    listed $34,900
27. 2008-06-27
    listed $34,900
28. 2008-02-19
    listed $67,900
29. 2007-08-09
    historical
30. 2007-04-04
    listed $69,900
31. 2006-08-15
    soldstatus $65,000
32. 2006-07-20
    historical
33. 2006-06-05
    listed $69,856
34. 2003-02-07
    soldstatus $60,500
35. 2002-12-23
    historical
36. 2002-11-25
    listed $68,900
37. 1999-05-25
    soldstatus $54,900
38. 1999-04-19
    historical
39. 1999-04-02
    listed $54,900
40. 1996-10-11
    soldstatus $36,000
41. 1996-08-27
    historical
42. 1996-06-22
    listed $36,900

ⓘ 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: $16,215
• − Mortgage interest: −$5,036
• − Property taxes: −$1,348
• − Insurance: −$450
• − Repairs & maintenance: −$1,297
• − Management: −$1,297
• − HOA: −$3,120
• − Depreciation: −$2,615
• Taxable income: $1,052
• Est. tax owed @ 24.0%: −$252
• After-tax cash flow: $1,982/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: Warren Consolidated Schools
• NCES district ID: 2635190
• Math proficiency: 18% ▼ -14.00%
• Reading proficiency: 39% ▼ -8.00%
• Median HH income: $52,259
• Composite: 25.09/100
• National rank: #7533
• State rank: #373 of 540 in MI

Livability — Sterling Heights

• Score: 74/100
• State rank: #173
• US rank: #4545

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sterling Heights, MI
• County: Macomb County · 638,552 people
• City population: 133,573
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 34,401
• Household income: $68,061
• Rent vs Own: 25.4% rent · 74.6% own
• Severe rent burden: 910.0

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 (75%)
• Race & ethnicity: White 75% Black 9% Asian 9% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Romanian 14% Arab 3% Lithuanian 2%
• Foreign-born: 25% · Canada, China, Vietnam
• Languages at home: 66% English-only · Other Indo-European 8% Arabic 8% Russian/Polish/Slavic 3%

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: ▼ -279.41%
• Current HPI: 203.3039
• 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

+143.6% since first listed

41 events — show timeline

• 2026-04-22 Pending — MiRealSource-MiMLS
• 2026-04-22 Pending — REALCOMP
• 2026-04-08 Relisted — REALCOMP
• 2026-04-08 Relisted — MiRealSource-MiMLS
• 2026-02-23 Listing Removed — MiRealSource-MiMLS
• 2026-02-13 Listed $89,900 MiRealSource-MiMLS
• 2026-02-13 Listed $89,900 REALCOMP
• 2026-02-10 Coming Soon $89,900 MiRealSource-MiMLS
• 2022-10-04 Sold (MLS) $85,000 REALCOMP
• 2022-10-04 Sold (MLS) $85,000 MiRealSource-MiMLS
• 2022-09-26 Pending — MiRealSource-MiMLS
• 2022-09-08 Price Changed $85,500 MiRealSource-MiMLS
• 2022-08-25 Listed $85,500 REALCOMP
• 2022-08-25 Listed $95,900 MiRealSource-MiMLS
• 2009-07-07 Listing Removed — MiRealSource-MiMLS
• 2009-04-03 Listed $69,900 MiRealSource-MiMLS
• 2008-12-29 Sold (MLS) $22,012 REALCOMP
• 2008-12-29 Sold (MLS) $22,012 MiRealSource-MiMLS
• 2008-12-04 Listing Removed — MiRealSource-MiMLS
• 2008-09-29 Listed $16,900 REALCOMP
• 2008-09-29 Listed $16,900 MiRealSource-MiMLS
• 2008-09-27 Listing Removed — MiRealSource-MiMLS
• 2008-09-27 Listing Removed — REALCOMP
• 2008-08-31 Listing Removed — MiRealSource-MiMLS
• 2008-06-27 Listed $34,900 MiRealSource-MiMLS
• 2008-06-27 Listed $34,900 REALCOMP
• 2008-02-19 Listed $67,900 MiRealSource-MiMLS
• 2007-08-09 Listing Removed — MiRealSource-MiMLS
• 2007-04-04 Listed $69,900 MiRealSource-MiMLS
• 2006-08-15 Sold (MLS) $65,000 MiRealSource-MiMLS
• 2006-07-20 Listing Removed — MiRealSource-MiMLS
• 2006-06-05 Listed $69,856 MiRealSource-MiMLS
• 2003-02-07 Sold (MLS) $60,500 MiRealSource-MiMLS
• 2002-12-23 Listing Removed — MiRealSource-MiMLS
• 2002-11-25 Listed $68,900 MiRealSource-MiMLS
• 1999-05-25 Sold (MLS) $54,900 MiRealSource-MiMLS
• 1999-04-19 Listing Removed — MiRealSource-MiMLS
• 1999-04-02 Listed $54,900 MiRealSource-MiMLS
• 1996-10-11 Sold (MLS) $36,000 MiRealSource-MiMLS
• 1996-08-27 Listing Removed — MiRealSource-MiMLS
• 1996-06-22 Listed $36,900 MiRealSource-MiMLS