45745 Kensington St · Utica, MI 48317

$115,000

2 bd · 1.5 ba · 1,737 sqft · Condo · 15 Days on market

Built 1964 $600/mo HOA · 31% 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 +18.8/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +5.9/10.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this exceptionally well maintained condo located in Village Square - Utica Schools! This condo is a Co-op and is CASH only - The monthly HOA fee includes property taxes, gas, heat, water, garbage, interior/exterior structural repair or replacement - this includes furnace, hot water heater, kitchen appliances as well as plumbing and electrical. The HOA also includes grass cutting, snow removal, landscaping, and window replacement. This condo has plenty of updates including a new roof and new windows. Schedule your private showing today!

Key facts

• Monthly hoa fee
• New roof
• New windows

Tags

• WELL MAINTAINED CONDO
• MONTHLY HOA FEE
• NEW ROOF
• NEW WINDOWS

Property features AI

Finance

• Other: Directions: Turn onto Keding from M59 (Cross street: M59/M53)
• HOA & community: Homeowners association fee $600 monthly; HOA covers electricity, gas, water, trash, grounds and structure maintenance, snow removal and utilities

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Condominium (residential); Two levels; Ground-level entry with steps
• Construction: Brick construction
• Exterior features: Paved road access; Pets allowed

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Ceiling fan(s)
• Interior features: Finished basement; Gas water heater

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 $115 ($1k/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: $113k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.5% vs local median 3.6% in Utica — 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 78/100 on livability (#106 in MI, #2,586 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: crime D+, health & safety D+, employment D.
• 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.
• Market conditions: Rents rising (+3.4%/yr); 101 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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 31% of the median local income ($73k/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.
• 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 15 days — a 2% lower offer ($113k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 20y 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 $15k; list at $115k implies a 667% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.

Recommended offer $113,275 (1.5% below list)

Questions for the listing agent

1. Built in 1964 — 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. 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?
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: 1.66% ✓
• Cap rate: 7.49%
• Cash-on-cash: 4.29%
• DSCR: 1.19
• GRM: 5.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.4% rent growth · sell at horizon

5-year hold

• IRR: -8.5%
• Equity multiple: 0.69×
• Total profit: $-10,128
• Equity at exit: $17,147

10-year hold

• IRR: 2.3%
• Equity multiple: 1.17×
• Total profit: $5,438
• 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 48317

• Rents YoY: 3.4%
• Active inventory: 101
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,911 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$600
• Vacancy / Maint / Mgmt: −$401
• Net cashflow: $115

Break-even live

Break-even rent $1,765

Max offer price $115,000

Occupancy floor 89%

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 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11650 Weingartz W Utica, MI	2.0	2.5	1497	$2,100	$1.40	43d	1	0.26mi
11699 Weingartz W Utica, MI	3.0	2.5	1761	$2,400	$1.36	43d	1	0.38mi
9001 Shannon Dr Sterling Heights, MI	3.0	2.0	2200	$2,200	$1.00	19d	1	1.07mi
45845 Brownell St Unit 1f Utica, MI	3.0	1.0	1200	$1,400	$1.17	43d	1	1.09mi
8254 Mary Ann Ave Unit 1032359P Shelby Township, MI	2.0–4.0	1.0–2.0	1517	$6,618	$4.36	1d	2	1.46mi

HOA detail condo

• Monthly dues: $600 · $7,200/yr
• Likely covers: watertrashgaselectriclandscapingsnow removal
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 11 events

1. 2026-06-18
   days on market $115,000 Active 15 DOM
2. 2026-06-17
   days on market $115,000 Active 14 DOM
3. 2026-06-16
   days on market $115,000 Active 13 DOM
4. 2026-06-15
   days on market $115,000 Active 12 DOM
5. 2026-06-13
   days on market $115,000 Active 10 DOM
6. 2026-06-13
   days on market $115,000 Active 9 DOM
7. 2026-06-09
   days on market $115,000 Active 6 DOM
8. 2026-06-08
   days on market $115,000 Active 5 DOM
9. 2026-06-07
   days on market $115,000 Active 4 DOM
10. 2026-06-04
    remarks 552-char remark
11. 2026-06-04
    listed $115,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥97°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: $22,936
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,835
• − Management: −$1,835
• − HOA: −$7,200
• − Depreciation: −$3,345
• Taxable loss: −$21
• Est. tax savings @ 24.0%: +$5
• After-tax cash flow: $1,387/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 — Utica

• Score: 78/100
• State rank: #106
• US rank: #2586

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Utica, MI
• County: Macomb County · 638,552 people
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 27,565
• Household income: $72,917
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 1531.0

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 (79%)
• Race & ethnicity: White 79% Asian 6% Two or more races 6% Black 5% Hispanic / Latino 4%
• Common ancestry: Romanian 13% Lithuanian 4% Slovak 2%
• Foreign-born: 18% · Canada, China, South Korea
• Languages at home: 79% English-only · Other Indo-European 6% Arabic 5% Russian/Polish/Slavic 2%

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: ▼ -279.31%
• Current HPI: 195.6447
• Rent YoY: ▲ 3.40%
• 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

+489.7% since first listed

9 events — show timeline

• 2026-06-03 Listed $115,000 REALCOMP
• 2026-06-03 Listed $115,000 MiRealSource-MiMLS
• 2026-01-13 Listing Removed — MiRealSource-MiMLS
• 2026-01-13 Listing Removed — REALCOMP
• 2025-12-01 Listed $119,900 REALCOMP
• 2025-12-01 Listed $119,900 MiRealSource-MiMLS
• 2006-09-27 Sold (MLS) $15,000 MiRealSource-MiMLS
• 2006-09-25 Listing Removed — MiRealSource-MiMLS
• 2006-03-29 Listed $19,500 MiRealSource-MiMLS