8653 Sterling St · Center Line, MI 48015

$65,000

2 bd · 1.5 ba · 1,000 sqft · Condo · 121 Days on market

Built 1966 Good condition $450/mo HOA

---

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 +23.8/30.0
• 1% rule +10.0/10.0
• DSCR +7.7/10.0
• ARV discount +7.1/15.0
• Condition / age +3.8/5.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this well maintained two bedroom, one and half bath cooperative. This townhouse style unit is tucked toward the back of the complex for added privacy. With approximately 1,000sqft of finished living space plus a freshly painted basement, this home offers comfortable, functional living throughout. Inside you'll find refinished flooring, fresh paint and thoughtful updates that make this unit move-in ready. The spacious living area flows in the a bright kitchen and dining space, while the basement provides additional flexible space. This cooperative community has a monthly carrying charge that covers interior and exterior maintenance along with water, trash, snow removal, clubhouse access, taxes and more. Sale is cash only and must be owner-occupied.

Key facts

• $450 HOA
• Built 1966
• Listed 121 days

🏢 Co-op / cooperative unit. The $65,000 price buys shares in the cooperative corporation, not the real estate itself — so it isn't comparable to a fee-simple sale price, and the cashflow / cap-rate / 1%-rule cards below (which assume you own the property and can rent it out) don't apply here. Expect board approval and a monthly maintenance fee on top of the price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $65k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $125 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.6% vs local median 5.3% in Center Line — 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 (#190 in MI, #4,835 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities C-, crime D+, health & safety D.
• Van Dyke Public Schools (urban): math 7% / reading 19% proficiency, ranked #512 of 540 in MI (top 95%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 80% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Marjorie Carlson Elementary School (math 8% / reading 17%, grade F, #1,203 of 1,397 statewide, top 87%, 349 students, 92% FRL); Lincoln Middle School (math 7% / reading 22%, grade F, #460 of 493 statewide, top 93%, 401 students, 96% FRL); Lincoln High School (math 2% / reading 17%, grade F, #692 of 713 statewide, top 98%, 440 students, 91% FRL).
• Market conditions: 37 active listings in the ZIP; 38 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 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 $449 of loan paydown is wiped out by about $2k 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 121 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 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.

Risks & watch-outs

• Watch-outs: HOA is 35% of rent.

Recommended offer $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 121 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — 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. 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?
8. 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?
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: 2.00% ✓
• Cap rate: 8.61%
• Cash-on-cash: 8.27%
• DSCR: 1.37
• GRM: 4.2

CMA / ARV

• ARV (median comp): $64,357
• List price: $65,000
• Delta: 1.00%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -3.3%
• Equity multiple: 0.88×
• Total profit: $-2,246
• Equity at exit: $9,692

10-year hold

• IRR: 6.9%
• Equity multiple: 1.52×
• Total profit: $9,535
• Equity at exit: $5,620

Cash invested: $18,200 (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 48015

• Home prices YoY: -20.6%
• Active inventory: 37
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $1,297 high
• Mortgage (P&I): −$341
• Tax est. 1.5%: −$81 /mo · $975/yr
• Insurance: −$27
• HOA: −$450
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $125

Break-even live

Break-even rent $1,138

Max offer price $65,000

Occupancy floor 85%

Sensitivity live

Price	-10% $170	-5% $148	+0% $125	+5% $103	+10% $81
Rent	-10% $23	-5% $74	+0% $125	+5% $177	+10% $228
Rate	-1.0pp $158	-0.5pp $142	base $125	+0.5pp $109	+1.0pp $91

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11130 Stephens Rd Warren, MI	2.0	1.0	750	$1,275	$1.70	1d	1	0.29mi
8716 Timken Ave Warren, MI	3.0	1.0	1008	$1,400	$1.39	26d	1	0.42mi
8428 Timken Ave Warren, MI	3.0	1.0	860	$1,250	$1.45	26d	1	0.44mi
8212 Timken Ave Warren, MI	2.0	1.0	756	$1,320	$1.75	26d	1	0.51mi
8125 Timken Ave Warren, MI	3.0	1.0	948	$1,270	$1.34	6d	1	0.51mi
8636 Republic Ave Warren, MI	2.0	1.0	800	$1,250	$1.56	16d	1	0.52mi
8707 Continental Ave Warren, MI	3.0	1.0	968	$1,200	$1.24	19d	1	0.55mi
8707 Continental Ave Warren, MI	3.0	1.0	1100	$1,200	$1.09	6d	1	0.55mi
8693 Paige Ave Warren, MI	3.0	1.0	900	$1,300	$1.44	26d	1	0.60mi
8509 Paige Ave Warren, MI	3.0	1.0	950	$1,300	$1.37	26d	1	0.61mi
11332 Republic Ave Warren, MI	3.0	1.0	1140	$1,500	$1.32	26d	1	0.63mi
11331 Continental Ave Warren, MI	2.0	1.0	765	$1,250	$1.63	26d	1	0.65mi
11404 Warren Blvd Unit 102 Warren, MI	2.0	1.0	900	$1,250	$1.39	26d	1	0.67mi
11500 Warren Blvd Warren, MI	1.0	1.0	800	$1,125	$1.41	16d	1	0.67mi
11476 Warren Blvd Unit 114 Warren, MI	1.0	1.0	800	$1,125	$1.41	45d	1	0.68mi
7256 Ready Ave Warren, MI	3.0	2.0	1300	$1,500	$1.15	26d	1	0.71mi
11099 Dodge Ave Warren, MI	2.0	1.0	1190	$1,150	$0.97	22d	1	0.73mi
25108 Hoover Rd Warren, MI	1.0–2.0	1.0	702	$1,324	$1.88	1d	61	0.74mi
8625 Dale Center Line, MI	3.0	1.5	1179	$1,796	$1.52	45d	1	0.76mi
25005 Lawrence Ave Center Line, MI	1.0–2.0	1.0–1.5	1000	$955	$0.95	45d	1	0.81mi
11359 Maxwell Ave Unit 11359 Warren, MI	2.0	1.0	900	$1,000	$1.11	5d	1	0.86mi
25146 Wagner Ave Warren, MI	3.0	1.0	906	$1,900	$2.10	26d	1	1.01mi
8251 Hudson Ave Warren, MI	3.0	1.0	908	$1,400	$1.54	26d	1	1.04mi
11076 Hudson Ave Warren, MI	3.0	1.0	936	$1,395	$1.49	4d	1	1.05mi
8632 Studebaker Ave Warren, MI	3.0	1.0	761	$1,300	$1.71	4d	1	1.09mi
8640 Chalmers Ave Warren, MI	3.0	1.0	804	$1,423	$1.77	26d	1	1.14mi
7568 Hudson Ave Unit 1 Warren, MI	3.0	1.0	1415	$1,100	$0.78	6d	1	1.16mi
7568 Hudson Ave Unit 2 Warren, MI	2.0	1.0	1415	$900	$0.64	6d	1	1.16mi
11319 Chalmers Ave Warren, MI	3.0	1.0	975	$1,500	$1.54	26d	1	1.16mi
7275 Chalmers Ave Warren, MI	2.0	1.0	703	$1,200	$1.71	26d	1	1.27mi
8162 Orchard Ave Warren, MI	2.0	1.0	900	$1,000	$1.11	45d	1	1.28mi
7511 Toepfer Rd Warren, MI	3.0	1.0	1032	$1,199	$1.16	23d	1	1.30mi
8065 Meadow Ave Warren, MI	2.0	1.0	800	$1,050	$1.31	26d	1	1.33mi
11809 McKinley Dr Warren, MI	3.0	1.5	1212	$1,800	$1.49	19d	1	1.36mi
7043 Meadow Ave Warren, MI	2.0	1.0	911	$1,274	$1.40	45d	1	1.46mi
27107 Seyburn Ave Warren, MI	2.0	1.0	750	$1,300	$1.73	23d	1	1.48mi
11228 Sherman Ave Warren, MI	2.0	1.0	1000	$1,200	$1.20	14d	1	1.49mi
11377 Sherman Ave Warren, MI	3.0	1.0	1200	$1,400	$1.17	26d	1	1.50mi

HOA detail condo

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

Listing history 17 events

1. 2026-06-21
   days on market $65,000 Active 121 DOM
2. 2026-06-18
   days on market $65,000 Active 118 DOM
3. 2026-06-17
   days on market $65,000 Active 117 DOM
4. 2026-06-16
   days on market $65,000 Active 116 DOM
5. 2026-06-15
   days on market $65,000 Active 115 DOM
6. 2026-06-13
   days on market $65,000 Active 113 DOM
7. 2026-06-13
   days on market $65,000 Active 112 DOM
8. 2026-06-09
   days on market $65,000 Active 109 DOM
9. 2026-06-08
   days on market $65,000 Active 108 DOM
10. 2026-06-07
    days on market $65,000 Active 107 DOM
11. 2026-06-04
    days on market $65,000 Active 104 DOM
12. 2026-06-03
    days on market $65,000 Active 103 DOM
13. 2026-06-02
    days on market $65,000 Active 102 DOM
14. 2026-06-01
    days on market $65,000 Active 101 DOM
15. 2026-05-31
    days on market $65,000 Active 100 DOM
16. 2026-02-19
    listed $65,000 Active 773-char remark

    Show marketing remark (773 chars)

    Welcome home to this well maintained two bedroom, one and half bath cooperative. This townhouse style unit is tucked toward the back of the complex for added privacy. With approximately 1,000sqft of finished living space plus a freshly painted basement, this home offers comfortable, functional living throughout. Inside you'll find refinished flooring, fresh paint and thoughtful updates that make this unit move-in ready. The spacious living area flows in the a bright kitchen and dining space, while the basement provides additional flexible space. This cooperative community has a monthly carrying charge that covers interior and exterior maintenance along with water, trash, snow removal, clubhouse access, taxes and more. Sale is cash only and must be owner-occupied.

17. 2026-02-19
    listed $65,000 Active 773-char remark

    Show marketing remark (773 chars)

    Welcome home to this well maintained two bedroom, one and half bath cooperative. This townhouse style unit is tucked toward the back of the complex for added privacy. With approximately 1,000sqft of finished living space plus a freshly painted basement, this home offers comfortable, functional living throughout. Inside you'll find refinished flooring, fresh paint and thoughtful updates that make this unit move-in ready. The spacious living area flows in the a bright kitchen and dining space, while the basement provides additional flexible space. This cooperative community has a monthly carrying charge that covers interior and exterior maintenance along with water, trash, snow removal, clubhouse access, taxes and more. Sale is cash only and must be owner-occupied.

ⓘ 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: $15,564
• − Mortgage interest: −$3,641
• − Property taxes: −$975
• − Insurance: −$325
• − Repairs & maintenance: −$1,245
• − Management: −$1,245
• − HOA: −$5,400
• − Depreciation: −$1,891
• Taxable income: $842
• Est. tax owed @ 24.0%: −$202
• After-tax cash flow: $1,303/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 two-bedroom, one-and-a-half-bath cooperative is move-in ready with fresh paint and updates.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Landscaping upgrade — Improves curb appeal and adds value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Landscaping upgrade — Improves curb appeal and adds 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: Van Dyke Public Schools
• NCES district ID: 2634680
• Math proficiency: 7% ▼ -11.00%
• Reading proficiency: 19% ▼ -5.00%
• Median HH income: $33,231
• Composite: 10.46/100
• National rank: #9784
• State rank: #512 of 540 in MI

Livability — Center Line

• Score: 74/100
• State rank: #190
• US rank: #4835

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Center Line, MI
• City population: 8,448
• Population (ZIP): 8,448

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 51% Black 30% Asian 11% Two or more races 4% Hispanic / Latino 4% Native American 1%
• Common ancestry: Romanian 7% Lithuanian 3% German 2%
• Foreign-born: 15% · Canada, Vietnam
• Languages at home: 81% English-only · Other Indo-European 9% Russian/Polish/Slavic 5% Spanish 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: ▼ -66.73%
• Current HPI: 256.7842
• Rent YoY: —
• Metro: —
• 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

+0.0% since first listed

2 events — show timeline

• 2026-02-19 Listed $65,000 REALCOMP
• 2026-02-19 Listed $65,000 MiRealSource-MiMLS