1875 Sheffield Dr · Superior, MI 48198

$115,000

2 bd · 1.5 ba · 1,056 sqft · Condo public records · 65 Days on market

Built 1973 $109/sqft · 30% below area Est $164k · 30% under $450/mo HOA · 25% 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 +21.5/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +6.8/10.0
• Rent growth +3.6/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this condo in the city of Ypsilanti featuring 2 bedrooms and 1.5 bathrooms. The spacious living room offers plenty of natural light and sliding doors that lead directly to the backyard, perfect for relaxing or entertaining. The kitchen is a comfortable size and features white countertops with ample cabinet space. The property also includes a basement, ideal for additional storage. Conveniently located near shopping, dining, and freeway access.

Key facts

• $450 HOA
• Built 1973
• Listed 65 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $115k.

Deal economics

• At list price, monthly cash flow is $172 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $115k).
• Recommended offer: $108k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• Ypsilanti Community Schools (suburban): math 11% / reading 20% proficiency, ranked #501 of 540 in MI (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 69% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.4%/yr); 166 active listings in the ZIP; 6 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; 996 units permitted in Washtenaw County in 2024 (492 in 5+ unit buildings).
• This rent runs 34% of the median local income ($63k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $795 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Washtenaw County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($108k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 29y 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.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.

Recommended offer $108,100 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 days. Have you received any prior offers? Is the seller open to a 6% 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 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.56% ✓
• Cap rate: 8.08%
• Cash-on-cash: 6.40%
• DSCR: 1.28
• GRM: 5.4

CMA / ARV

• ARV (median comp): $163,558
• List price: $115,000
• Delta: -29.69%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.38% rent growth · sell at horizon

5-year hold

• IRR: -4.0%
• Equity multiple: 0.85×
• Total profit: $-4,884
• Equity at exit: $17,147

10-year hold

• IRR: 8.1%
• Equity multiple: 1.67×
• Total profit: $21,676
• Equity at exit: $9,943

Cash invested: $32,200 (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 48198

• Rents YoY: 4.4%
• Active inventory: 166
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,789 high
• Mortgage (P&I): −$603
• Tax from tax record: −$141 /mo · $1,688/yr
• Insurance: −$48
• HOA: −$450
• Vacancy / Maint / Mgmt: −$376
• Net cashflow: $172

Break-even live

Break-even rent $1,572

Max offer price $115,000

Occupancy floor 85%

Sensitivity live

Price	-10% $237	-5% $204	+0% $172	+5% $139	+10% $107
Rent	-10% $30	-5% $101	+0% $172	+5% $242	+10% $313
Rate	-1.0pp $230	-0.5pp $201	base $172	+0.5pp $142	+1.0pp $112

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1525 Devon St Ypsilanti, MI	3.0	1.0	1300	$2,300	$1.77	44d	1	0.58mi
1654 Wiard Blvd Ypsilanti, MI	3.0	1.0	864	$1,800	$2.08	18d	1	1.15mi
1993 Arbor Woods Blvd Superior Charter Twp, MI	3.0	2.0	1056	$1,249	$1.18	15d	1	1.21mi
907 E Forest Ave Ypsilanti, MI	2.0	1.0	882	$1,575	$1.79	18d	1	1.24mi
303 Adams St Unit 301 Oakland, MI	1.0	1.0	991	$2,595	$2.62	44d	1	1.28mi
669 Woburn Dr Ypsilanti, MI	1.0–3.0	1.0–2.0	911	$1,375	$1.51	44d	1	1.45mi

HOA detail condo

• Monthly dues: $450 · $5,400/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-19
   status $115,000 Pending 65 DOM
2. 2026-06-18
   days on market $115,000 Active 65 DOM
3. 2026-06-17
   days on market $115,000 Active 64 DOM
4. 2026-06-16
   days on market $115,000 Active 63 DOM
5. 2026-06-15
   days on market $115,000 Active 62 DOM
6. 2026-06-13
   days on market $115,000 Active 60 DOM
7. 2026-06-09
   days on market $115,000 Active 56 DOM
8. 2026-06-08
   days on market $115,000 Active 55 DOM
9. 2026-06-07
   days on market $115,000 Active 54 DOM
10. 2026-06-04
    days on market $115,000 Active 51 DOM
11. 2026-06-03
    days on market $115,000 Active 50 DOM
12. 2026-06-02
    days on market $115,000 Active 49 DOM
13. 2026-06-01
    days on market $115,000 Active 48 DOM
14. 2026-05-31
    days on market $115,000 Active 47 DOM
15. 2026-05-06
    price $115,000 458-char remark

    Show marketing remark (458 chars)

    Welcome to this condo in the city of Ypsilanti featuring 2 bedrooms and 1.5 bathrooms. The spacious living room offers plenty of natural light and sliding doors that lead directly to the backyard, perfect for relaxing or entertaining. The kitchen is a comfortable size and features white countertops with ample cabinet space. The property also includes a basement, ideal for additional storage. Conveniently located near shopping, dining, and freeway access.

16. 2026-05-05
    price $115,000 458-char remark

    Show marketing remark (458 chars)

    Welcome to this condo in the city of Ypsilanti featuring 2 bedrooms and 1.5 bathrooms. The spacious living room offers plenty of natural light and sliding doors that lead directly to the backyard, perfect for relaxing or entertaining. The kitchen is a comfortable size and features white countertops with ample cabinet space. The property also includes a basement, ideal for additional storage. Conveniently located near shopping, dining, and freeway access.

17. 2026-04-14
    listed $120,000 Active 458-char remark

    Show marketing remark (458 chars)

    Welcome to this condo in the city of Ypsilanti featuring 2 bedrooms and 1.5 bathrooms. The spacious living room offers plenty of natural light and sliding doors that lead directly to the backyard, perfect for relaxing or entertaining. The kitchen is a comfortable size and features white countertops with ample cabinet space. The property also includes a basement, ideal for additional storage. Conveniently located near shopping, dining, and freeway access.

18. 2026-04-14
    listed $120,000 Active 458-char remark

    Show marketing remark (458 chars)

    Welcome to this condo in the city of Ypsilanti featuring 2 bedrooms and 1.5 bathrooms. The spacious living room offers plenty of natural light and sliding doors that lead directly to the backyard, perfect for relaxing or entertaining. The kitchen is a comfortable size and features white countertops with ample cabinet space. The property also includes a basement, ideal for additional storage. Conveniently located near shopping, dining, and freeway access.

19. 2026-04-14
    historical

    Show marketing remark (458 chars)

    Welcome to this condo in the city of Ypsilanti featuring 2 bedrooms and 1.5 bathrooms. The spacious living room offers plenty of natural light and sliding doors that lead directly to the backyard, perfect for relaxing or entertaining. The kitchen is a comfortable size and features white countertops with ample cabinet space. The property also includes a basement, ideal for additional storage. Conveniently located near shopping, dining, and freeway access.

20. 2026-04-14
    historical

    Show marketing remark (458 chars)

    Welcome to this condo in the city of Ypsilanti featuring 2 bedrooms and 1.5 bathrooms. The spacious living room offers plenty of natural light and sliding doors that lead directly to the backyard, perfect for relaxing or entertaining. The kitchen is a comfortable size and features white countertops with ample cabinet space. The property also includes a basement, ideal for additional storage. Conveniently located near shopping, dining, and freeway access.

21. 2026-04-05
    price $120,000
22. 2026-04-05
    price $120,000
23. 2026-02-28
    price $130,000
24. 2026-02-27
    price $130,000
25. 2025-12-18
    price $140,000
26. 2025-12-18
    price $140,000
27. 2025-10-31
    price $145,000
28. 2025-10-31
    price $145,000
29. 2025-09-19
    price $155,000
30. 2025-09-19
    price $155,000
31. 2025-07-24
    price $165,000
32. 2025-07-23
    price $165,000
33. 2025-06-20
    listed $172,500 Active
34. 2025-06-20
    listed $172,500 Active
35. 2019-08-22
    soldstatus $115,180
36. 2019-08-19
    status Pending
37. 2019-08-19
    soldstatus $115,180 Sold
38. 2019-08-19
    soldstatus $115,180
39. 2019-08-19
    soldstatus $115,180
40. 2019-08-19
    soldstatus $115,180
41. 2019-08-19
    soldstatus $115,180 Closed
42. 2019-07-08
    historical Keep Showing-Contgcy Appl
43. 2019-07-08
    historical Active - Contingent
44. 2019-06-29
    listed $112,000 Active
45. 2019-06-29
    listed $112,000
46. 2019-06-29
    listed $112,000
47. 2019-06-29
    listed $112,000
48. 2019-06-29
    listed $112,000 Active
49. 2001-05-18
    soldstatus $100,000
50. 1997-06-16
    soldstatus $65,000

ⓘ 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: $1,688 · $141/mo
• Projected year-2 tax: $1,729 · $144/mo
• Expected delta: +$42/yr (+$3/mo · 2.5%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,468
• − Mortgage interest: −$6,442
• − Property taxes: −$1,688
• − Insurance: −$575
• − Repairs & maintenance: −$1,717
• − Management: −$1,717
• − HOA: −$5,400
• − Depreciation: −$3,345
• Taxable income: $583
• Est. tax owed @ 24.0%: −$140
• After-tax cash flow: $1,920/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: Ypsilanti Community Schools
• NCES district ID: 2636630
• Math proficiency: 11% ▼ -8.00%
• Reading proficiency: 20% ▼ -3.00%
• Median HH income: $37,759
• Composite: 12.98/100
• National rank: #9572
• State rank: #501 of 540 in MI

Livability — Superior

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

Census & demographics

• County: Washtenaw County · 306,860 people
• City population: 105,769
• Metro: Ann Arbor, MI
• Population (ZIP): 39,244
• Household income: $63,326
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 1998.0

Population outlook (Washtenaw County) Hauer SSP2

• Today (2025): 402,878 people
• By 2030: 424,104 · +5.3%
• By 2040: 464,633 · +15.3%
• By 2050: 504,728 · +25.3%
• By 2075: 614,463 · +52.5%
• By 2100: 676,181 · +67.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 48% Black 32% Two or more races 11% Hispanic / Latino 8% Asian 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 3% Italian 2% Slovak 2%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 88% English-only · Spanish 7% Other Indo-European 1% Arabic 1%

Political lean MEDSL · Washtenaw

• 2024 margin: Solid D (+44.4) · D 71.0% · R 26.6% · Other 2.4%
• 2008→2024 swing: +3.5pp toward D · 2008: 41.0pp · 2024: 44.4pp
• All cycles: 2024: D+44.4 2020: D+46.6 2016: D+41.5 2012: D+36.0 2008: D+41.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -224.96%
• Current HPI: 204.1228
• Rent YoY: ▲ 4.38%
• Metro: Ann Arbor, 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

+84.0% since first listed

38 events — show timeline

• 2026-05-06 Price Changed $115,000 MiRealSource-MiMLS
• 2026-05-05 Price Changed $115,000 REALCOMP
• 2026-04-14 Listing Removed — REALCOMP
• 2026-04-14 Listing Removed — MiRealSource-MiMLS
• 2026-04-14 Listed $120,000 REALCOMP
• 2026-04-14 Listed $120,000 MiRealSource-MiMLS
• 2026-04-05 Price Changed $120,000 MiRealSource-MiMLS
• 2026-04-05 Price Changed $120,000 REALCOMP
• 2026-02-28 Price Changed $130,000 MiRealSource-MiMLS
• 2026-02-27 Price Changed $130,000 REALCOMP
• 2025-12-18 Price Changed $140,000 MiRealSource-MiMLS
• 2025-12-18 Price Changed $140,000 REALCOMP
• 2025-10-31 Price Changed $145,000 MiRealSource-MiMLS
• 2025-10-31 Price Changed $145,000 REALCOMP
• 2025-09-19 Price Changed $155,000 MiRealSource-MiMLS
• 2025-09-19 Price Changed $155,000 REALCOMP
• 2025-07-24 Price Changed $165,000 MiRealSource-MiMLS
• 2025-07-23 Price Changed $165,000 REALCOMP
• 2025-06-20 Listed $172,500 REALCOMP
• 2025-06-20 Listed $172,500 MiRealSource-MiMLS
• 2019-08-22 Sold (Public Records) $115,180 Public Records
• 2019-08-19 Pending — AAMLS
• 2019-08-19 Sold (MLS) $115,180 MiRealSource-MiMLS
• 2019-08-19 Sold (MLS) $115,180 MiRealSource-MiMLS
• 2019-08-19 Sold (MLS) $115,180 REALCOMP
• 2019-08-19 Sold (MLS) $115,180 SW Michigan MLS
• 2019-08-19 Sold (MLS) $115,180 AAMLS
• 2019-07-08 Contingent — MiRealSource-MiMLS
• 2019-07-08 Contingent — AAMLS
• 2019-06-29 Listed $112,000 MiRealSource-MiMLS
• 2019-06-29 Listed $112,000 MiRealSource-MiMLS
• 2019-06-29 Listed $112,000 REALCOMP
• 2019-06-29 Listed $112,000 SW Michigan MLS
• 2019-06-29 Listed $112,000 AAMLS
• 2001-05-18 Sold (Public Records) $100,000 Public Records
• 1997-06-16 Sold (MLS) $65,000 REALCOMP
• 1997-04-17 Listed $69,900 REALCOMP
• 1996-07-02 Sold (Public Records) $62,500 Public Records

Property tax history

+5.3%/yr

Latest (2025): $1,688 · -27.7% YoY. Source: county tax records.