523 John Anderson Ct · Monroe, MI 48162

$79,900

2 bd · 1.5 ba · 842 sqft · Condo · 14 Days on market

Built 1968 Good condition $250/mo HOA · 21% 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 +23.4/30.0
• 1% rule +10.0/10.0
• DSCR +7.5/10.0
• ARV discount +7.5/15.0
• Livability +4.2/5.0
• Condition / age +3.8/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully rebuilt and remodeled condo featuring 3 bedrooms and 1.5 bathrooms. The lower level has been completely reconstructed, offering modern updates and peace of mind. Inside, the home features an open layout with updated flooring, fresh finishes, and a bright contemporary design. The kitchen includes new cabinetry, countertops, and fixtures, while both bathrooms have been remodeled with modern touches. Additional features include a gazebo behind the building, laundry room storage with lockable space, on-site garage space for bicycle storage, and a Generac generator for the building with a power cord provided in the unit. Convenient location and move-in ready, this condo combines comfort, function, and thoughtful amenities.

Key facts

• Remodeled
• Clubhouse
• Community amenities

Tags

• REMODELED
• WALK IN CLOSETS
• COMMUNITY AMENITIES
• CLUBHOUSE
• BBQ GAZEBO AREA
• ON-SITE LAUNDRY FACILITIES

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee of $250; HOA covers maintenance of grounds, snow removal, trash, and water; Community clubhouse; On-site laundry amenities; Maintenance of grounds; Street lights in the community

Exterior

• Parking: Assigned parking; Carport
• Utilities: Public water; Public sewer
• Home design: Condominium (residential); Brick construction
• Construction: Brick exterior
• Exterior features: Outdoor grill

Interior

• Kitchen: Dishwasher; Microwave; Oven; Range; Refrigerator; Gas water heater
• Bedrooms: Total of 4 rooms (see listing for bedroom layout)
• Flooring: Ceramic tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Baseboard heating; Natural gas heating; Ceiling fan(s); Wall/window unit(s) for cooling
• Interior features: Eat-in kitchen; Walk-in closet(s); Window treatments
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $80k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $147 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Cap rate 8.5% vs local median 4.0% in Monroe — 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 83/100 on livability (#51 in MI, #1,034 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: employment C-, crime D+, amenities D+.
• Monroe Public Schools (suburban): math 24% / reading 47% proficiency, ranked #278 of 540 in MI (top 52%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 123 active listings in the ZIP; 14 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; 264 units permitted in Monroe County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Monroe County population projected at -20% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 18 sale attempts since 27y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $79,900

Questions for the listing agent

1. Built in 1968 — 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. 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?
6. 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?
7. 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.
8. 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.
9. 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: 8.51%
• Cash-on-cash: 7.90%
• DSCR: 1.35
• 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: -4.0%
• Equity multiple: 0.85×
• Total profit: $-3,391
• Equity at exit: $11,913

10-year hold

• IRR: 5.9%
• Equity multiple: 1.44×
• Total profit: $9,828
• Equity at exit: $6,908

Cash invested: $22,372 (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 48162

• Active inventory: 123
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,202 high
• Mortgage (P&I): −$419
• Tax est. 1.5%: −$100 /mo · $1,198/yr
• Insurance: −$33
• HOA: −$250
• Vacancy / Maint / Mgmt: −$252
• Net cashflow: $147

Break-even live

Break-even rent $1,015

Max offer price $79,900

Occupancy floor 83%

Sensitivity live

Price	-10% $203	-5% $175	+0% $147	+5% $120	+10% $92
Rent	-10% $52	-5% $100	+0% $147	+5% $195	+10% $242
Rate	-1.0pp $188	-0.5pp $168	base $147	+0.5pp $127	+1.0pp $106

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
620 John Anderson Ct Unit 628-28 Monroe, MI	2.0	1.5	800	$1,095	$1.37	44d	1	0.10mi
620 John Anderson Ct Monroe, MI	1.0–2.0	1.0–1.5	787	$1,295	$1.64	44d	7	0.10mi
620 John Anderson Ct Monroe, MI	1.0–2.0	1.0–1.5	787	$1,195	$1.52	3d	12	0.10mi
1250 Josephine Ct Monroe, MI	1.0–2.0	1.0	792	$975	$1.23	5d	2	0.69mi
1318 Frank Dr Monroe, MI	3.0	1.0–2.5	1300	$1,645	$1.27	5d	6	0.74mi
1513 Stewart Rd Monroe, MI	1.0	1.0	761	$997	$1.31	25d	1	0.91mi
1985 S Custer Rd Apt 3 Monroe, MI	2.0	1.0	1000	$1,200	$1.20	44d	1	0.93mi
1621 Park West Dr Monroe, MI	1.0–3.0	1.0–2.0	1000	$1,170	$1.17	2d	12	1.11mi
411 W 3rd St Unit 2 Monroe, MI	1.0	1.0	700	$700	$1.00	44d	1	1.14mi
1055 Cedar Creek Dr Monroe, MI	2.0–3.0	2.0	1216	$1,299	$1.07	3d	5	1.33mi
765 N Macomb St Monroe, MI	2.0	1.0	1050	$1,150	$1.10	44d	1	1.37mi
767 N Macomb St Monroe, MI	2.0	1.0	1050	$1,150	$1.10	44d	1	1.37mi
927 N Macomb St Monroe, MI	1.0	1.0	900	$1,195	$1.33	18d	1	1.37mi
733 Smith St Monroe, MI	3.0	1.5	1000	$1,500	$1.50	44d	1	1.42mi

HOA detail condo

• Monthly dues: $250 · $3,000/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-19
   days on market $79,900 Active 14 DOM
2. 2026-06-18
   days on market $79,900 Active 13 DOM
3. 2026-06-17
   days on market $79,900 Active 12 DOM
4. 2026-06-16
   days on market $79,900 Active 11 DOM
5. 2026-06-16
   price $79,900 Active 10 DOM
6. 2026-06-15
   days on market $84,900 Active 10 DOM
7. 2026-06-14
   days on market $84,900 Active 8 DOM
8. 2026-06-12
   days on market $84,900 Active 7 DOM
9. 2026-06-09
   days on market $84,900 Active 4 DOM
10. 2026-06-08
    days on market $84,900 Active 3 DOM
11. 2026-06-07
    remarks 699-char remark
12. 2026-06-07
    listed $84,900 Active 2 DOM

ⓘ 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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 4/10 Moderate 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,423
• − Mortgage interest: −$4,476
• − Property taxes: −$1,198
• − Insurance: −$400
• − Repairs & maintenance: −$1,154
• − Management: −$1,154
• − HOA: −$3,000
• − Depreciation: −$2,324
• Taxable income: $717
• Est. tax owed @ 24.0%: −$172
• After-tax cash flow: $1,596/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 · 12 photos

Good 75/100 Cosmetic rehab

This well-maintained and updated condo is move-in ready with good condition and minimal repairs needed.

Value-add opportunities

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics.
• Both Replace carpet in living areas — New carpet improves comfort and appearance.
• Both Install smart home devices — Smart home devices increase convenience and appeal to tech-savvy buyers/renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Replace carpet in living areas — New carpet improves comfort and appearance. ↑
• Both Install smart home devices — Smart home devices increase convenience and appeal to tech-savvy buyers/renters. ↑

ⓘ 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: Monroe Public Schools
• NCES district ID: 2624150
• Math proficiency: 24% ▲ 3.00%
• Reading proficiency: 47% ▲ 12.00%
• Median HH income: $46,437
• Composite: 30.33/100
• National rank: #6269
• State rank: #278 of 540 in MI

Livability — Monroe

• Score: 83/100
• State rank: #51
• US rank: #1034

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Monroe, MI
• County: Monroe County · 54,460 people
• City population: 54,460
• Metro: Monroe, MI
• Population (ZIP): 28,156
• Household income: $67,876
• Rent vs Own: 23.4% rent · 76.6% own
• Severe rent burden: 828.0

Population outlook (Monroe County) Hauer SSP2

• Today (2025): 144,439 people
• By 2030: 140,033 · -3.1%
• By 2040: 128,408 · -11.1%
• By 2050: 115,024 · -20.4%
• By 2075: 87,273 · -39.6%
• By 2100: 63,110 · -56.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 4% Black 3% Hispanic / Latino 3%
• Common ancestry: Lithuanian 7% Romanian 6% Slovak 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1%

Political lean MEDSL · Monroe

• 2024 margin: Strong R (+27.1) · D 35.7% · R 62.9% · Other 1.4%
• 2008→2024 swing: -31.5pp toward R · 2008: 4.3pp · 2024: -27.1pp
• All cycles: 2024: R+27.1 2020: R+22.6 2016: R+22.1 2012: D+1.0 2008: D+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -171.11%
• Current HPI: 138.1795
• Rent YoY: —
• Metro: Monroe, 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

+93.4% since first listed

44 events — show timeline

• 2026-06-05 Listed $84,900 REALCOMP
• 2025-10-28 Sold (MLS) $85,000 REALCOMP
• 2025-10-27 Pending — REALCOMP
• 2025-10-02 Contingent — REALCOMP
• 2025-09-22 Price Changed $90,000 REALCOMP
• 2025-08-27 Listed $95,000 REALCOMP
• 2024-06-14 Sold (MLS) $70,000 REALCOMP
• 2024-05-24 Pending — REALCOMP
• 2024-04-03 Listed $75,000 REALCOMP
• 2024-01-11 Sold (MLS) $64,900 REALCOMP
• 2023-12-18 Contingent — REALCOMP
• 2023-11-20 Listed $64,900 REALCOMP
• 2021-08-11 Sold (MLS) $59,000 REALCOMP
• 2021-06-18 Pending — REALCOMP
• 2021-06-07 Listed $59,000 REALCOMP
• 2021-03-09 Sold (MLS) $50,000 REALCOMP
• 2021-01-27 Pending — REALCOMP
• 2020-11-05 Contingent — REALCOMP
• 2020-10-29 Listed $65,000 REALCOMP
• 2017-03-01 Sold (MLS) $32,000 REALCOMP
• 2017-02-09 Listed $37,900 REALCOMP
• 2016-04-13 Sold (MLS) $35,000 REALCOMP
• 2016-02-21 Listed $36,900 REALCOMP
• 2012-06-06 Sold (MLS) $15,000 REALCOMP
• 2012-06-06 Sold (MLS) $15,000 MiRealSource-MiMLS
• 2012-05-29 Listing Removed — REALCOMP
• 2012-01-12 Listing Removed — REALCOMP
• 2012-01-12 Listing Removed — MiRealSource-MiMLS
• 2011-07-12 Listed $18,900 REALCOMP
• 2011-07-12 Listed $17,900 REALCOMP
• 2011-07-12 Listed $17,900 MiRealSource-MiMLS
• 2011-07-12 Listed $18,900 MiRealSource-MiMLS
• 2011-01-13 Listing Removed — REALCOMP
• 2010-07-13 Listed $29,900 REALCOMP
• 2002-06-14 Sold (MLS) $68,000 REALCOMP
• 2002-04-12 Listed $72,500 REALCOMP
• 2001-08-29 Sold (MLS) $37,800 REALCOMP
• 2001-04-11 Sold (MLS) $85,900 REALCOMP
• 2001-04-11 Sold (MLS) $85,900 REALCOMP
• 2001-04-11 Sold (MLS) $85,900 MiRealSource-MiMLS
• 2001-02-01 Listed $87,000 REALCOMP
• 2001-02-01 Listed $87,000 REALCOMP
• 2001-02-01 Listed $87,000 MiRealSource-MiMLS
• 1999-12-30 Listed $43,900 REALCOMP