9792 Cornell · Taylor, MI 48180

$63,500

2 bd · 1.5 ba · 744 sqft · Condo · 21 Days on market

Built 1970 $615/mo HOA

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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 +19.7/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.2/10.0
• Livability +3.8/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Affordable ownership with a whole lot less maintenance stress. This well-kept 2-bedroom, 1.5-bath cooperative townhouse has already had many of the updates buyers care about, including fresh paint, new carpeting, granite countertops in the kitchen, and updated bathroom spaces that give the home a clean, move-in-ready feel. The layout offers comfortable everyday living with included appliances, a private patio for outdoor space, a full unfinished basement with laundry, and two assigned parking spaces. What really makes this one stand out is what's included in the monthly carrying charge. For $615 per month, taxes, building insurance, gas, water, lawn care, exterior maintenance, roof, furnace-related repairs, hot water tank, stove, refrigerator, and central air responsibilities are covered. That takes a lot of the bigger ownership surprises off the table and makes budgeting much more predictable. If you've been looking for an affordable ownership option where many of the major expenses are already handled, this is worth a serious look. Owner-occupied cooperative community. Cash buyers only due to cooperative ownership structure. Buyer subject to cooperative approval and association requirements.

Key facts

• $615 HOA
• Built 1970
• Listed 20 days

Property features AI

Finance

• Other: Directions: Head north on Telegraph toward Wick, turn right. Turn right on Cornell. Cross street: Wick and Telegraph
• HOA & community: Homeowners association with a $615 monthly fee; HOA fee includes gas, water, sewer, snow removal and grounds maintenance

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Stock cooperative (residential); Two levels; Ground-level entry with steps
• Construction: Brick and vinyl siding exterior; Block foundation
• Exterior features: Paved road access; Pets: contact management

Interior

• Kitchen: Gas cooktop; Microwave; Free-standing refrigerator; Dishwasher not listed
• Bedrooms: Total rooms: 4
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced-air heating (natural gas); No cooling
• Interior features: Dryer; Free-standing refrigerator; Gas cooktop; Microwave; Washer; Unfinished basement
• Laundry & utility: Washer and dryer

🏢 Co-op / cooperative unit. The $63,500 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 $64k.

Deal economics

• At list price, monthly cash flow is $74 ($893/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $64k).
• Recommended offer: $63k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.7% vs local median 5.4% in Taylor — 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 76/100 on livability (#144 in MI, #3,684 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: employment D+, schools F, crime F.
• Taylor School District (urban): math 14% / reading 27% proficiency, ranked #462 of 540 in MI (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.9%/yr); 281 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $439 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 4.9% rent growth), your $18k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y 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.
• Current owner paid $24k; list at $64k implies a 165% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 43% of rent.

Recommended offer $62,547 (1.5% below list)

Questions for the listing agent

1. Built in 1970 — 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 F-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 F 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: 2.25% ✓
• Cap rate: 7.70%
• Cash-on-cash: 5.02%
• DSCR: 1.22
• GRM: 3.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 4.9% rent growth · sell at horizon

5-year hold

• IRR: -3.4%
• Equity multiple: 0.87×
• Total profit: $-2,371
• Equity at exit: $9,468

10-year hold

• IRR: 10.6%
• Equity multiple: 1.99×
• Total profit: $17,527
• Equity at exit: $5,490

Cash invested: $17,780 (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 48180

• Rents YoY: 4.9%
• Active inventory: 281
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,428 medium
• Mortgage (P&I): −$333
• Tax est. 1.5%: −$79 /mo · $952/yr
• Insurance: −$26
• HOA: −$615
• Vacancy / Maint / Mgmt: −$300
• Net cashflow: $74

Break-even live

Break-even rent $1,334

Max offer price $63,500

Occupancy floor 90%

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: $15,875
• Closing costs: $1,905
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24268 Haskell St Taylor, MI	1.0–2.0	1.0	880	$1,565	$1.78	1d	8	0.83mi
7873 Syracuse St Taylor, MI	2.0	1.0	728	$1,400	$1.92	43d	1	1.12mi
12555 Pine St Taylor, MI	1.0–3.0	1.0–1.5	830	$1,268	$1.53	1d	1	1.36mi

HOA detail condo

• Monthly dues: $615 · $7,380/yr
• Likely covers: watergaslandscapingexterior maint.insuranceparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 21 events

1. 2026-06-18
   days on market $63,500 Active 21 DOM
2. 2026-06-17
   days on market $63,500 Active 20 DOM
3. 2026-06-16
   days on market $63,500 Active 19 DOM
4. 2026-06-15
   days on market $63,500 Active 18 DOM
5. 2026-06-13
   days on market $63,500 Active 16 DOM
6. 2026-06-13
   days on market $63,500 Active 15 DOM
7. 2026-06-09
   days on market $63,500 Active 12 DOM
8. 2026-06-08
   days on market $63,500 Active 11 DOM
9. 2026-06-07
   days on market $63,500 Active 10 DOM
10. 2026-06-04
    days on market $63,500 Active 7 DOM
11. 2026-06-03
    days on market $63,500 Active 6 DOM
12. 2026-06-02
    days on market $63,500 Active 5 DOM
13. 2026-06-01
    days on market $63,500 Active 4 DOM
14. 2026-05-31
    days on market $63,500 Active 3 DOM
15. 2026-05-29
    listed $63,500 Active 1212-char remark

    Show marketing remark (1212 chars)

    Affordable ownership with a whole lot less maintenance stress. This well-kept 2-bedroom, 1.5-bath cooperative townhouse has already had many of the updates buyers care about, including fresh paint, new carpeting, granite countertops in the kitchen, and updated bathroom spaces that give the home a clean, move-in-ready feel. The layout offers comfortable everyday living with included appliances, a private patio for outdoor space, a full unfinished basement with laundry, and two assigned parking spaces. What really makes this one stand out is what's included in the monthly carrying charge. For $615 per month, taxes, building insurance, gas, water, lawn care, exterior maintenance, roof, furnace-related repairs, hot water tank, stove, refrigerator, and central air responsibilities are covered. That takes a lot of the bigger ownership surprises off the table and makes budgeting much more predictable. If you've been looking for an affordable ownership option where many of the major expenses are already handled, this is worth a serious look. Owner-occupied cooperative community. Cash buyers only due to cooperative ownership structure. Buyer subject to cooperative approval and association requirements.

16. 2026-05-29
    listed $63,500 Active

    Show marketing remark (1212 chars)

    Affordable ownership with a whole lot less maintenance stress. This well-kept 2-bedroom, 1.5-bath cooperative townhouse has already had many of the updates buyers care about, including fresh paint, new carpeting, granite countertops in the kitchen, and updated bathroom spaces that give the home a clean, move-in-ready feel. The layout offers comfortable everyday living with included appliances, a private patio for outdoor space, a full unfinished basement with laundry, and two assigned parking spaces. What really makes this one stand out is what's included in the monthly carrying charge. For $615 per month, taxes, building insurance, gas, water, lawn care, exterior maintenance, roof, furnace-related repairs, hot water tank, stove, refrigerator, and central air responsibilities are covered. That takes a lot of the bigger ownership surprises off the table and makes budgeting much more predictable. If you've been looking for an affordable ownership option where many of the major expenses are already handled, this is worth a serious look. Owner-occupied cooperative community. Cash buyers only due to cooperative ownership structure. Buyer subject to cooperative approval and association requirements.

17. 2026-05-28
    historical $63,500 1212-char remark

    Show marketing remark (1212 chars)

    Affordable ownership with a whole lot less maintenance stress. This well-kept 2-bedroom, 1.5-bath cooperative townhouse has already had many of the updates buyers care about, including fresh paint, new carpeting, granite countertops in the kitchen, and updated bathroom spaces that give the home a clean, move-in-ready feel. The layout offers comfortable everyday living with included appliances, a private patio for outdoor space, a full unfinished basement with laundry, and two assigned parking spaces. What really makes this one stand out is what's included in the monthly carrying charge. For $615 per month, taxes, building insurance, gas, water, lawn care, exterior maintenance, roof, furnace-related repairs, hot water tank, stove, refrigerator, and central air responsibilities are covered. That takes a lot of the bigger ownership surprises off the table and makes budgeting much more predictable. If you've been looking for an affordable ownership option where many of the major expenses are already handled, this is worth a serious look. Owner-occupied cooperative community. Cash buyers only due to cooperative ownership structure. Buyer subject to cooperative approval and association requirements.

18. 2019-02-01
    soldstatus $24,000 Sold 324-char remark

    Show marketing remark (324 chars)

    2 bdrm 1.5 bath 744 sq ft. Wood floors, new carpet in both bdrms. Granite counters in kitchen. Microwave over stove. New fixtures. This is a Cooperative membership. Monthly dues include taxes, building insurance, water, gas, lawn maintenance, furnace repairs, hot water tank, roof, outside maintenance, stove, fridge and AC.

19. 2019-02-01
    soldstatus $24,000 Closed

    Show marketing remark (324 chars)

    2 bdrm 1.5 bath 744 sq ft. Wood floors, new carpet in both bdrms. Granite counters in kitchen. Microwave over stove. New fixtures. This is a Cooperative membership. Monthly dues include taxes, building insurance, water, gas, lawn maintenance, furnace repairs, hot water tank, roof, outside maintenance, stove, fridge and AC.

20. 2019-01-10
    listed $26,900 Active 324-char remark

    Show marketing remark (324 chars)

    2 bdrm 1.5 bath 744 sq ft. Wood floors, new carpet in both bdrms. Granite counters in kitchen. Microwave over stove. New fixtures. This is a Cooperative membership. Monthly dues include taxes, building insurance, water, gas, lawn maintenance, furnace repairs, hot water tank, roof, outside maintenance, stove, fridge and AC.

21. 2019-01-10
    listed $26,900 Active

    Show marketing remark (324 chars)

    2 bdrm 1.5 bath 744 sq ft. Wood floors, new carpet in both bdrms. Granite counters in kitchen. Microwave over stove. New fixtures. This is a Cooperative membership. Monthly dues include taxes, building insurance, water, gas, lawn maintenance, furnace repairs, hot water tank, roof, outside maintenance, stove, fridge and AC.

ⓘ 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: $17,138
• − Mortgage interest: −$3,557
• − Property taxes: −$952
• − Insurance: −$318
• − Repairs & maintenance: −$1,371
• − Management: −$1,371
• − HOA: −$7,380
• − Depreciation: −$1,847
• Taxable income: $341
• Est. tax owed @ 24.0%: −$82
• After-tax cash flow: $811/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: Taylor School District
• NCES district ID: 2633540
• Math proficiency: 14% ▼ -7.00%
• Reading proficiency: 27% ▼ -4.00%
• Median HH income: $43,062
• Composite: 17.62/100
• National rank: #9034
• State rank: #462 of 540 in MI

Livability — Taylor

• Score: 76/100
• State rank: #144
• US rank: #3684

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Taylor, MI
• County: Wayne County · 1,562,939 people
• City population: 62,081
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 62,081
• Household income: $61,081
• Rent vs Own: 33.3% rent · 66.7% own
• Severe rent burden: 1957.0

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 1,675,273 people
• By 2030: 1,620,300 · -3.3%
• By 2040: 1,502,341 · -10.3%
• By 2050: 1,384,039 · -17.4%
• By 2075: 1,124,592 · -32.9%
• By 2100: 881,193 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority White (65%)
• Race & ethnicity: White 65% Black 19% Two or more races 9% Hispanic / Latino 9% Asian 2%
• Hispanic origin (detail): Mexican 6% Puerto Rican 2%
• Common ancestry: Romanian 8% Lithuanian 3% Slovak 2%
• Foreign-born: 7% · Canada
• Languages at home: 89% English-only · Spanish 4% Arabic 3% Other Indo-European 3%

Political lean MEDSL · Wayne

• 2024 margin: Strong D (+29.0) · D 62.7% · R 33.7% · Other 3.6%
• 2008→2024 swing: -20.5pp toward R · 2008: 49.5pp · 2024: 29.0pp
• All cycles: 2024: D+29.0 2020: D+38.1 2016: D+37.3 2012: D+46.9 2008: D+49.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -212.33%
• Current HPI: 228.921
• Rent YoY: ▲ 4.90%
• 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

+136.1% since first listed

7 events — show timeline

• 2026-05-29 Listed $63,500 MiRealSource-MiMLS
• 2026-05-29 Listed $63,500 REALCOMP
• 2026-05-28 Coming Soon $63,500 MiRealSource-MiMLS
• 2019-02-01 Sold (MLS) $24,000 MiRealSource-MiMLS
• 2019-02-01 Sold (MLS) $24,000 REALCOMP
• 2019-01-10 Listed $26,900 MiRealSource-MiMLS
• 2019-01-10 Listed $26,900 REALCOMP