38150 Jamestown Dr #84 · Sterling Heights, MI 48312

$185,000

3 bd · 1.5 ba · 1,216 sqft · Condo public records · 14 Days on market

Built 1972 $152/sqft · at area comps Est $189k · at est. $335/mo HOA · 18% of rent

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Why this score? — see what drove the D 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 +12.5/30.0
• ARV discount +8.3/15.0
• 1% rule +5.0/10.0
• Schools +4.1/10.0
• DSCR +3.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Spacious 3 bedroom, 1.5 bath townhouse-style condo in Sterling Heights! This unit features a functional layout with a comfortable living area, second floor bedrooms, and a convenient half bath on the main level. Many mechanicals have been replaced, including the furnace (2021), the hot water tank (2017), and the electrical panel (2022). Included are two parking spots, one being in the carport out front and an additional bonus space just a couple of spots away. Enjoy the added benefit of a community pool, perfect for relaxing during the summer. Conveniently located near shopping, dining, and major roadways.

Key facts

• $335 HOA
• 2 parking spots
• Community pool

Property features AI

Finance

• Other: Pets allowed (call for pet restrictions)
• HOA & community: Monthly association fee of $335; Association amenities include community pool / pool & hot tub; Association contact available

Exterior

• Parking: Carport; Covered parking with 2 spaces
• Utilities: Public water; Public sanitary sewer; Natural gas; Electric service (standard)
• Home design: Condominium; Two-story; Unit/building number 84; Subdivision: Golfpointe Village At Plumbrook; Faces road frontage
• Construction: Brick and vinyl siding exterior; Built in 1972; Basement foundation (has unfinished basement)
• Exterior features: Patio; Community pool

Interior

• Kitchen: Kitchen on entry level; Appliances included: Dishwasher, Range/Oven, Microwave, Refrigerator
• Bedrooms: Three bedrooms located on the second floor (approx. 13 x 12; 11 x 10; 9-wide)
• Bathrooms: Two total bathrooms, including one full bathroom on the main floor and an additional full bath on the second floor; One lavatory
• Heating & cooling: Forced air heating; Central A/C; Natural gas heating fuel
• Interior features: Living room; Formal dining room; Lower-level laundry; Family room
• Laundry & utility: Washer and Dryer included; Laundry area on lower level

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $185k.

Deal economics

• At list price, monthly cash flow is $-27 ($-327/yr) — negative.
• To cash-flow at today's rent, offer at most $180k (2.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $185k (0.1% below list).
• Recommended offer: $180k (2.6% below list) — sets the bar for cash-flow.
• Cap rate 6.1% 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: health & safety D+, amenities F.
• Utica Community Schools (suburban): math 38% / reading 53% proficiency, ranked #126 of 540 in MI (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Dekeyser Elementary School (math 42% / reading 55%, grade D, #428 of 1,397 statewide, top 31%, 525 students, 48% FRL); Davis Junior High School (math 36% / reading 55%, grade D+, #161 of 493 statewide, top 33%, 728 students, 58% FRL); Adlai Stevenson High School (math 32% / reading 54%, grade F, #260 of 713 statewide, top 37%, 1,977 students, 55% FRL) — zoned schools average 54% FRL vs 26% district-wide (28 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 163 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,321 units permitted in Macomb County in 2024 (86 in 5+ unit buildings).
• This rent runs 33% of the median local income ($68k/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 $1k of loan paydown is wiped out by about $6k 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $53k; list at $185k implies a 249% gain — meaningful room to come down on a strong offer.

Recommended offer $180,179 (2.6% 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 1972 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 1.00% ✗
• Cap rate: 6.12%
• Cash-on-cash: -0.63%
• DSCR: 0.97
• GRM: 8.3

CMA / ARV

• ARV (median comp): $188,502
• List price: $185,000
• Delta: -1.86%
• 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: -17.2%
• Equity multiple: 0.39×
• Total profit: $-31,560
• Equity at exit: $27,584

10-year hold

• IRR: -9.0%
• Equity multiple: 0.44×
• Total profit: $-29,086
• Equity at exit: $15,995

Cash invested: $51,800 (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: 163
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,848 high
• Mortgage (P&I): −$970
• Tax from tax record: −$105 /mo · $1,255/yr
• Insurance: −$77
• HOA: −$335
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $-27

Break-even live

Break-even rent $1,882

Max offer price $180,179

Occupancy floor 96%

Sensitivity live

Price	-10% $77	-5% $25	+0% $-27	+5% $-80	+10% $-132
Rent	-10% $-173	-5% $-100	+0% $-27	+5% $46	+10% $119
Rate	-1.0pp $66	-0.5pp $20	base $-27	+0.5pp $-75	+1.0pp $-124

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: $46,250
• Closing costs: $5,550
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
38227 Schoenherr Rd Sterling Heights, MI	2.0	1.5	1250	$1,830	$1.46	0d	1	0.04mi
38177 Jamestown Dr Sterling Heights, MI	3.0	2.0	1300	$1,850	$1.42	6d	1	0.07mi
13429 Denver Cir S Sterling Heights, MI	3.0	1.5	1216	$2,100	$1.73	45d	1	0.08mi
37373 Clubhouse Dr Sterling Heights, MI	2.0	1.5	1330	$1,800	$1.35	45d	1	0.55mi
14273 Shadywood Dr Sterling Heights, MI	2.0	2.0	1373	$2,100	$1.53	45d	1	0.70mi
14357 Shadywood Dr Sterling Heights, MI	2.0	2.0	1500	$2,100	$1.40	4d	1	0.73mi
15329 Danseur Dr Unit 795 Clinton Twp, MI	3.0	2.0	1056	$1,549	$1.47	4d	1	1.12mi
15353 Dominique Dr Unit 834 Clinton Township, MI	3.0	2.0	1056	$1,549	$1.47	26d	1	1.15mi
15368 Dominique Dr Unit 868 Clinton Township, MI	3.0	2.0	1056	$1,549	$1.47	45d	1	1.17mi
15377 Dominique Dr Unit 828 Clinton Township, MI	3.0	2.0	1056	$1,549	$1.47	3d	1	1.20mi
15386 Danseur Dr Unit 822 Clinton Township, MI	2.0	2.0	960	$1,399	$1.46	45d	1	1.22mi
38051 Saint Tropez Dr Unit 990 Clinton Township, MI	3.0	2.0	1120	$1,549	$1.38	4d	1	1.24mi
38033 Ducharme Dr Unit 604 Clinton Twp, MI	2.0	2.0	960	$1,499	$1.56	45d	1	1.29mi
38100 Ducharme Dr Unit 476 Clinton Township, MI	3.0	2.0	1056	$1,549	$1.47	4d	1	1.31mi
15811 Villaire Ave Unit 643 Clinton Township, MI	2.0	2.0	960	$1,399	$1.46	45d	1	1.31mi
15836 Croatia Dr Unit 544 Clinton Township, MI	2.0	1.0	840	$1,349	$1.61	45d	1	1.35mi
38044 Johannes Dr Unit 521 Clinton Township, MI	2.0	2.0	960	$1,399	$1.46	45d	1	1.35mi
15974 Villaire Ave Unit 445 Clinton Township, MI	2.0	1.0	768	$1,319	$1.72	4d	1	1.35mi
15835 Marentette Dr Unit 512 Clinton Township, MI	2.0	2.0	960	$1,399	$1.46	45d	1	1.36mi
38056 Johannes Dr Unit 524 Clinton Township, MI	3.0	2.0	1056	$1,549	$1.47	1d	1	1.36mi
38055 Leverette Ave Unit 491 Clinton Township, MI	2.0	2.0	960	$1,399	$1.46	6d	1	1.39mi
15856 Marentette Dr Unit 336 Clinton Township, MI	2.0	2.0	960	$1,399	$1.46	1d	1	1.40mi
38019 Leverette Ave Unit 500 Clinton Township, MI	2.0	2.0	960	$1,389	$1.45	3d	1	1.40mi
15868 Marentette Dr Unit 339 Clinton Township, MI	2.0	2.0	960	$1,399	$1.46	14d	1	1.41mi
16011 Villaire Ave Unit 682 Clinton Township, MI	2.0	2.0	960	$1,399	$1.46	3d	1	1.42mi
16016 Villaire Ave Unit 402 Clinton Township, MI	2.0	2.0	960	$1,399	$1.46	6d	1	1.43mi
16035 Villaire Ave Unit 688 Clinton Township, MI	2.0	2.0	960	$1,399	$1.46	45d	1	1.46mi
38013 Chilver Ave Unit 381 Clinton Township, MI	2.0	2.0	960	$1,399	$1.46	45d	1	1.47mi

HOA detail condo

• Monthly dues: $335 · $4,020/yr
• Likely covers: waterelectricpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 4 events

1. 2026-05-06
   listed $185,000 Active 613-char remark
2. 2011-01-31
   soldstatus $53,000
3. 2004-08-11
   soldstatus $126,000
4. 2001-06-13
   soldstatus $104,000

ⓘ 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: $1,255 · $105/mo
• Projected year-2 tax: $2,052 · $171/mo
• Expected delta: +$797/yr (+$66/mo · 63.5%)

ⓘ 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 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,170
• − Mortgage interest: −$10,363
• − Property taxes: −$1,255
• − Insurance: −$925
• − Repairs & maintenance: −$1,774
• − Management: −$1,774
• − HOA: −$4,020
• − Depreciation: −$5,382
• Taxable loss: −$3,322
• Est. tax savings @ 24.0%: +$797
• After-tax cash flow: $470/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: Utica Community Schools
• NCES district ID: 2634470
• Math proficiency: 38% ▼ -13.00%
• Reading proficiency: 53% ▼ -7.00%
• Median HH income: $65,953
• Composite: 40.52/100
• National rank: #3709
• State rank: #126 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

+77.9% since first listed

5 events — show timeline

• 2026-05-20 Pending — MiRealSource-MiMLS
• 2026-05-06 Listed $185,000 MiRealSource-MiMLS
• 2011-01-31 Sold (Public Records) $53,000 Public Records
• 2004-08-11 Sold (Public Records) $126,000 Public Records
• 2001-06-13 Sold (Public Records) $104,000 Public Records

Property tax history

+3.3%/yr

Latest (2025): $1,255 · +5.5% YoY. Source: county tax records.