12211 Chesapeake Cir · Commerce, MI 48390

$199,900

2 bd · 2.0 ba · 1,262 sqft · Condo public records · 10 Days on market

Built 2003 $158/sqft · 24% below area Est $264k · 24% under $350/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).

• ARV discount +15.0/15.0
• Cash flow +11.1/30.0
• Schools +5.0/10.0
• 1% rule +4.7/10.0
• DSCR +3.2/10.0
• Rent growth +2.8/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this lovingly maintained, original-owner condo offering the perfect blend of comfort, value, and opportunity. This 2-bedroom, 2-bath raised ranch features 1,262 sq ft of thoughtfully designed living space, located above an attached 1-car garage for added privacy and functionality. Step inside to find soaring cathedral ceilings and a light-filled living room centered around a cozy electric fireplace, perfect for relaxing or entertaining. The open layout flows seamlessly into the dining area, where a private balcony invites you to enjoy your morning coffee or unwind at the end of the day. Proudly owned by the original owner, this home has been well cared for over the years and is ready for its next chapter. With just a bit of TLC and your personal touches, it presents an incredible opportunity to build equity and truly make it your own. Major mechanical updates have already been taken care of, with both the furnace and A/C replaced in 2021, giving you peace of mind for years to come. This unit is easily one of the best values in the association, an opportunity you won't want to miss. Did we talk about amenities? Enjoy access to the community clubhouse and pool, not to mention the Michigan Airline Trail is less than a half mile away. Conveniently located close to M-5 and I-96 and with Walled Lake schools, this condo has everything you are looking for. Whether you're a first-time buyer, downsizing, or looking for low-maintenance living, this is the one!

Key facts

• $350 HOA
• Garage
• Community pool

Property features AI

Finance

• Other: Pets allowed; Subdivision: Maple Crossing Condo; Community directions available
• Financial info: No investor or income/expense details provided
• HOA & community: Homeowners association with $350 monthly fee; HOA covers grounds and structure maintenance, pest control, sewer, snow removal, trash and water

Exterior

• Parking: Attached garage with garage door opener (1 garage space)
• Security: No security details provided
• Utilities: Public water; Public sewer; Water service available
• Home design: Condominium (residential); Single-level (one story); Ground-level entry with steps; Brick construction; Entry faces unspecified direction
• Construction: Brick exterior; Asphalt roof; Slab foundation
• Exterior features: Community in-ground outdoor pool; Clubhouse; Sidewalks; Paved road access

Interior

• Kitchen: Free-standing electric range; Free-standing refrigerator; Dishwasher; Microwave
• Bedrooms: Total of 6 rooms (bedroom count not specified)
• Flooring: No flooring details provided
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Electric fireplace in the living room; Private entrance; Balcony; Covered porch
• Laundry & utility: In-unit laundry in a dedicated laundry room; Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $-81 ($-974/yr) — negative.
• To cash-flow at today's rent, offer at most $186k (7.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $194k (2.8% below list).
• Recommended offer: $186k (7.2% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Walled Lake Consolidated Schools (suburban): math 52% / reading 60% proficiency, ranked #58 of 540 in MI (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+1.0%/yr); 158 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).

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.
• Oakland County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Recommended offer $185,568 (7.2% 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. 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. 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?
6. 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.
7. 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.
8. 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: 0.97% ✗
• Cap rate: 5.81%
• Cash-on-cash: -1.74%
• DSCR: 0.92
• GRM: 8.6

CMA / ARV

• ARV (median comp): $263,928
• List price: $199,900
• Delta: -24.26%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.04% rent growth · sell at horizon

5-year hold

• IRR: -21.7%
• Equity multiple: 0.26×
• Total profit: $-41,143
• Equity at exit: $29,806

10-year hold

• IRR: -21.9%
• Equity multiple: -0.01×
• Total profit: $-56,599
• Equity at exit: $17,284

Cash invested: $55,972 (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 48390

• Rents YoY: 1.0%
• Active inventory: 158
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,942 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$134 /mo · $1,607/yr
• Insurance: −$83
• HOA: −$350
• Vacancy / Maint / Mgmt: −$408
• Net cashflow: $-81

Break-even live

Break-even rent $2,045

Max offer price $185,568

Occupancy floor 99%

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
17208 Chesapeake Cir Walled Lake, MI	2.0	2.0	1568	$1,850	$1.18	43d	1	0.05mi
2063 Shearwater Cir Commerce Township, MI	2.0	2.0	1443	$2,432	$1.69	1d	8	0.36mi
10210 E Midway Ct Unit 103 Commerce Township, MI	2.0	2.0	1200	$1,600	$1.33	43d	1	0.80mi
18103 Addington Dr Commerce Township, MI	2.0	2.5	1361	$1,890	$1.39	43d	1	0.80mi
18106 Addington Dr Commerce Township, MI	2.0	2.5	1248	$1,990	$1.59	5d	1	0.80mi
355 Beck Rd Wixom, MI	1.0–2.0	1.0	861	$1,754	$2.04	1d	26	0.84mi
17200 Addington Dr Commerce Township, MI	2.0	2.0	1242	$1,900	$1.53	5d	1	0.86mi
1465 Wren St Wixom, MI	3.0	1.0	1000	$1,900	$1.90	5d	1	0.87mi
31170 Wellington Dr Novi, MI	1.0–2.0	1.0–2.0	898	$1,779	$1.98	1d	41	1.12mi
45685 Timberlane Ct Novi, MI	1.0–2.0	1.0	806	$1,195	$1.48	43d	1	1.14mi
48200 Pontiac Trl Wixom, MI	1.0–2.0	1.0–1.5	829	$1,425	$1.72	1d	15	1.15mi
30995 Springlake Blvd Novi, MI	1.0–2.0	1.0–2.0	826	$1,726	$2.09	1d	39	1.17mi
406 Legato Dr Walled Lake, MI	2.0	2.0	1402	$1,999	$1.43	43d	1	1.31mi
1617 Norton Creek Blvd Wixom, MI	3.0	2.5	1613	$2,600	$1.61	16d	1	1.34mi
411 Wright St Wixom, MI	3.0	2.5	1488	$2,350	$1.58	11d	1	1.39mi
31071 Lakeview Blvd Wixom, MI	1.0–2.0	1.0	830	$1,830	$2.20	1d	13	1.42mi
339 Wright St Wixom, MI	2.0	2.0	1224	$1,750	$1.43	43d	1	1.43mi

HOA detail condo

• Monthly dues: $350 · $4,200/yr
• Likely covers: electricpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-05-18
   status Pending 1489-char remark

   Show marketing remark (1489 chars)

   Welcome home to this lovingly maintained, original-owner condo offering the perfect blend of comfort, value, and opportunity. This 2-bedroom, 2-bath raised ranch features 1,262 sq ft of thoughtfully designed living space, located above an attached 1-car garage for added privacy and functionality. Step inside to find soaring cathedral ceilings and a light-filled living room centered around a cozy electric fireplace, perfect for relaxing or entertaining. The open layout flows seamlessly into the dining area, where a private balcony invites you to enjoy your morning coffee or unwind at the end of the day. Proudly owned by the original owner, this home has been well cared for over the years and is ready for its next chapter. With just a bit of TLC and your personal touches, it presents an incredible opportunity to build equity and truly make it your own. Major mechanical updates have already been taken care of, with both the furnace and A/C replaced in 2021, giving you peace of mind for years to come. This unit is easily one of the best values in the association, an opportunity you won't want to miss. Did we talk about amenities? Enjoy access to the community clubhouse and pool, not to mention the Michigan Airline Trail is less than a half mile away. Conveniently located close to M-5 and I-96 and with Walled Lake schools, this condo has everything you are looking for. Whether you're a first-time buyer, downsizing, or looking for low-maintenance living, this is the one!

2. 2026-05-18
   status Pending 1495-char remark

   Show marketing remark (1489 chars)

   Welcome home to this lovingly maintained, original-owner condo offering the perfect blend of comfort, value, and opportunity. This 2-bedroom, 2-bath raised ranch features 1,262 sq ft of thoughtfully designed living space, located above an attached 1-car garage for added privacy and functionality. Step inside to find soaring cathedral ceilings and a light-filled living room centered around a cozy electric fireplace, perfect for relaxing or entertaining. The open layout flows seamlessly into the dining area, where a private balcony invites you to enjoy your morning coffee or unwind at the end of the day. Proudly owned by the original owner, this home has been well cared for over the years and is ready for its next chapter. With just a bit of TLC and your personal touches, it presents an incredible opportunity to build equity and truly make it your own. Major mechanical updates have already been taken care of, with both the furnace and A/C replaced in 2021, giving you peace of mind for years to come. This unit is easily one of the best values in the association, an opportunity you won't want to miss. Did we talk about amenities? Enjoy access to the community clubhouse and pool, not to mention the Michigan Airline Trail is less than a half mile away. Conveniently located close to M-5 and I-96 and with Walled Lake schools, this condo has everything you are looking for. Whether you're a first-time buyer, downsizing, or looking for low-maintenance living, this is the one!

3. 2026-05-12
   historical Accepting Backup Offers 1489-char remark

   Show marketing remark (1489 chars)

   Welcome home to this lovingly maintained, original-owner condo offering the perfect blend of comfort, value, and opportunity. This 2-bedroom, 2-bath raised ranch features 1,262 sq ft of thoughtfully designed living space, located above an attached 1-car garage for added privacy and functionality. Step inside to find soaring cathedral ceilings and a light-filled living room centered around a cozy electric fireplace, perfect for relaxing or entertaining. The open layout flows seamlessly into the dining area, where a private balcony invites you to enjoy your morning coffee or unwind at the end of the day. Proudly owned by the original owner, this home has been well cared for over the years and is ready for its next chapter. With just a bit of TLC and your personal touches, it presents an incredible opportunity to build equity and truly make it your own. Major mechanical updates have already been taken care of, with both the furnace and A/C replaced in 2021, giving you peace of mind for years to come. This unit is easily one of the best values in the association, an opportunity you won't want to miss. Did we talk about amenities? Enjoy access to the community clubhouse and pool, not to mention the Michigan Airline Trail is less than a half mile away. Conveniently located close to M-5 and I-96 and with Walled Lake schools, this condo has everything you are looking for. Whether you're a first-time buyer, downsizing, or looking for low-maintenance living, this is the one!

4. 2026-05-12
   historical Active Under Contract 1495-char remark

   Show marketing remark (1489 chars)

   Welcome home to this lovingly maintained, original-owner condo offering the perfect blend of comfort, value, and opportunity. This 2-bedroom, 2-bath raised ranch features 1,262 sq ft of thoughtfully designed living space, located above an attached 1-car garage for added privacy and functionality. Step inside to find soaring cathedral ceilings and a light-filled living room centered around a cozy electric fireplace, perfect for relaxing or entertaining. The open layout flows seamlessly into the dining area, where a private balcony invites you to enjoy your morning coffee or unwind at the end of the day. Proudly owned by the original owner, this home has been well cared for over the years and is ready for its next chapter. With just a bit of TLC and your personal touches, it presents an incredible opportunity to build equity and truly make it your own. Major mechanical updates have already been taken care of, with both the furnace and A/C replaced in 2021, giving you peace of mind for years to come. This unit is easily one of the best values in the association, an opportunity you won't want to miss. Did we talk about amenities? Enjoy access to the community clubhouse and pool, not to mention the Michigan Airline Trail is less than a half mile away. Conveniently located close to M-5 and I-96 and with Walled Lake schools, this condo has everything you are looking for. Whether you're a first-time buyer, downsizing, or looking for low-maintenance living, this is the one!

5. 2026-05-09
   listed $199,900 Active 1489-char remark

   Show marketing remark (1489 chars)

   Welcome home to this lovingly maintained, original-owner condo offering the perfect blend of comfort, value, and opportunity. This 2-bedroom, 2-bath raised ranch features 1,262 sq ft of thoughtfully designed living space, located above an attached 1-car garage for added privacy and functionality. Step inside to find soaring cathedral ceilings and a light-filled living room centered around a cozy electric fireplace, perfect for relaxing or entertaining. The open layout flows seamlessly into the dining area, where a private balcony invites you to enjoy your morning coffee or unwind at the end of the day. Proudly owned by the original owner, this home has been well cared for over the years and is ready for its next chapter. With just a bit of TLC and your personal touches, it presents an incredible opportunity to build equity and truly make it your own. Major mechanical updates have already been taken care of, with both the furnace and A/C replaced in 2021, giving you peace of mind for years to come. This unit is easily one of the best values in the association, an opportunity you won't want to miss. Did we talk about amenities? Enjoy access to the community clubhouse and pool, not to mention the Michigan Airline Trail is less than a half mile away. Conveniently located close to M-5 and I-96 and with Walled Lake schools, this condo has everything you are looking for. Whether you're a first-time buyer, downsizing, or looking for low-maintenance living, this is the one!

6. 2026-05-09
   listed $199,900 Active 1495-char remark

   Show marketing remark (1489 chars)

   Welcome home to this lovingly maintained, original-owner condo offering the perfect blend of comfort, value, and opportunity. This 2-bedroom, 2-bath raised ranch features 1,262 sq ft of thoughtfully designed living space, located above an attached 1-car garage for added privacy and functionality. Step inside to find soaring cathedral ceilings and a light-filled living room centered around a cozy electric fireplace, perfect for relaxing or entertaining. The open layout flows seamlessly into the dining area, where a private balcony invites you to enjoy your morning coffee or unwind at the end of the day. Proudly owned by the original owner, this home has been well cared for over the years and is ready for its next chapter. With just a bit of TLC and your personal touches, it presents an incredible opportunity to build equity and truly make it your own. Major mechanical updates have already been taken care of, with both the furnace and A/C replaced in 2021, giving you peace of mind for years to come. This unit is easily one of the best values in the association, an opportunity you won't want to miss. Did we talk about amenities? Enjoy access to the community clubhouse and pool, not to mention the Michigan Airline Trail is less than a half mile away. Conveniently located close to M-5 and I-96 and with Walled Lake schools, this condo has everything you are looking for. Whether you're a first-time buyer, downsizing, or looking for low-maintenance living, this is the one!

7. 2026-05-04
   historical $199,900 1489-char remark

   Show marketing remark (1489 chars)

   Welcome home to this lovingly maintained, original-owner condo offering the perfect blend of comfort, value, and opportunity. This 2-bedroom, 2-bath raised ranch features 1,262 sq ft of thoughtfully designed living space, located above an attached 1-car garage for added privacy and functionality. Step inside to find soaring cathedral ceilings and a light-filled living room centered around a cozy electric fireplace, perfect for relaxing or entertaining. The open layout flows seamlessly into the dining area, where a private balcony invites you to enjoy your morning coffee or unwind at the end of the day. Proudly owned by the original owner, this home has been well cared for over the years and is ready for its next chapter. With just a bit of TLC and your personal touches, it presents an incredible opportunity to build equity and truly make it your own. Major mechanical updates have already been taken care of, with both the furnace and A/C replaced in 2021, giving you peace of mind for years to come. This unit is easily one of the best values in the association, an opportunity you won't want to miss. Did we talk about amenities? Enjoy access to the community clubhouse and pool, not to mention the Michigan Airline Trail is less than a half mile away. Conveniently located close to M-5 and I-96 and with Walled Lake schools, this condo has everything you are looking for. Whether you're a first-time buyer, downsizing, or looking for low-maintenance living, this is the one!

ⓘ 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: $1,607 · $134/mo
• Projected year-2 tax: $2,343 · $195/mo
• Expected delta: +$736/yr (+$61/mo · 45.8%)

ⓘ 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 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,307
• − Mortgage interest: −$11,198
• − Property taxes: −$1,607
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,865
• − Management: −$1,865
• − HOA: −$4,200
• − Depreciation: −$5,815
• Taxable loss: −$4,241
• Est. tax savings @ 24.0%: +$1,018
• After-tax cash flow: $44/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: Walled Lake Consolidated Schools
• NCES district ID: 2635160
• Math proficiency: 52% ▼ -4.00%
• Reading proficiency: 60% ▼ -1.00%
• Median HH income: $69,184
• Composite: 49.57/100
• National rank: #1987
• State rank: #58 of 540 in MI

Livability — Commerce

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

Census & demographics

• County: Oakland County · 1,009,092 people
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 23,939
• Household income: $91,381
• Rent vs Own: 25.3% rent · 74.7% own
• Severe rent burden: 514.0

Population outlook (Oakland County) Hauer SSP2

• Today (2025): 1,335,747 people
• By 2030: 1,375,100 · +2.9%
• By 2040: 1,435,385 · +7.5%
• By 2050: 1,469,250 · +10.0%
• By 2075: 1,531,946 · +14.7%
• By 2100: 1,450,485 · +8.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Asian 7% Two or more races 4% Hispanic / Latino 4% Black 3%
• Common ancestry: Romanian 12% Lithuanian 4% Slovak 3%
• Foreign-born: 16% · Canada, Vietnam, Dominican Republic
• Languages at home: 82% English-only · Other Indo-European 3% Other Asian/Pacific 3% Russian/Polish/Slavic 3%

Political lean MEDSL · Oakland

• 2024 margin: D (+10.6) · D 54.4% · R 43.8% · Other 1.9%
• 2008→2024 swing: -3.9pp toward R · 2008: 14.5pp · 2024: 10.6pp
• All cycles: 2024: D+10.6 2020: D+14.1 2016: D+8.1 2012: D+8.1 2008: D+14.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -344.88%
• Current HPI: 180.9641
• Rent YoY: ▲ 1.04%
• 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

+0.0% since first listed

7 events — show timeline

• 2026-05-18 Pending — MiRealSource-MiMLS
• 2026-05-18 Pending — REALCOMP
• 2026-05-12 Contingent — MiRealSource-MiMLS
• 2026-05-12 Contingent — REALCOMP
• 2026-05-09 Listed $199,900 MiRealSource-MiMLS
• 2026-05-09 Listed $199,900 REALCOMP
• 2026-05-04 Coming Soon $199,900 MiRealSource-MiMLS

Property tax history

+2.3%/yr

Latest (2025): $1,607 · +3.8% YoY. Source: county tax records.