19585 Masonic Blvd #21 · Roseville, MI 48066

$67,000

1 bd · 1.0 ba · 650 sqft · Condo public records · 83 Days on market

Built 1967 $103/sqft · 7% below area Est $72k · 7% under $225/mo HOA · 20% of rent

---

Why this score? — see what drove the B- 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 +28.1/30.0
• ARV discount +10.5/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.6/5.0
• Rent growth +2.6/5.0
• Condition / age +2.5/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-in ready second-floor 1-bed, 1-bath condo available for immediate occupancy. This updated unit features a private balcony, covered carport, carpeted living area, and a galley-style kitchen with stainless steel appliances. The full bath has been refreshed with a tile surround and modern fixtures, while the spacious bedroom offers dual closets for added storage. Shared basement includes dedicated storage space. Conveniently located near shopping, dining, and major roadways including I-94, I-696, and Metropolitan Parkway.

Key facts

• $225 HOA
• Built 1967
• Listed 82 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $67k.

Deal economics

• At list price, monthly cash flow is $211 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $67k).
• Recommended offer: $63k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.1% vs local median 5.9% in Roseville — 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 72/100 on livability (#258 in MI) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety D+, employment D, schools F.
• Roseville Community Schools (suburban): math 11% / reading 24% proficiency, ranked #483 of 540 in MI (top 89%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 270 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 3d on market — plan ~1-2 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 $463 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 83 days — a 6% lower offer ($63k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask has dropped $8k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $56k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.

Recommended offer $62,980 (6.0% below list)

Questions for the listing agent

1. It's been on market 83 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — 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 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?
8. 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?
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: 1.64% ✓
• Cap rate: 10.08%
• Cash-on-cash: 13.53%
• DSCR: 1.60
• GRM: 5.1

CMA / ARV

• ARV (median comp): $71,803
• List price: $67,000
• Delta: -6.69%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.39% rent growth · sell at horizon

5-year hold

• IRR: -0.1%
• Equity multiple: 1.00×
• Total profit: $-67
• Equity at exit: $9,990

10-year hold

• IRR: 5.8%
• Equity multiple: 1.37×
• Total profit: $6,875
• Equity at exit: $5,793

Cash invested: $18,760 (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 48066

• Rents YoY: 0.4%
• Active inventory: 270
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $1,100 medium
• Mortgage (P&I): −$351
• Tax from tax record: −$53 /mo · $636/yr
• Insurance: −$28
• HOA: −$225
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $211

Break-even live

Break-even rent $832

Max offer price $67,000

Occupancy floor 76%

Sensitivity live

Price	-10% $249	-5% $230	+0% $211	+5% $192	+10% $174
Rent	-10% $125	-5% $168	+0% $211	+5% $255	+10% $298
Rate	-1.0pp $245	-0.5pp $229	base $211	+0.5pp $194	+1.0pp $176

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: $16,750
• Closing costs: $2,010
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
19700 Masonic Roseville, MI	1.0–2.0	1.0	874	$1,150	$1.32	0d	11	0.15mi
18391 Masonic Apt 1 Fraser, MI	2.0	1.0	720	$995	$1.38	17d	1	0.76mi
17134 E Thirteen Mile Rd Roseville, MI	1.0–2.0	1.0	825	$999	$1.21	2d	16	1.31mi

HOA detail condo

• Monthly dues: $225 · $2,700/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-21
   days on market $67,000 Active 83 DOM
2. 2026-06-18
   price $67,000 Active 80 DOM
3. 2026-06-18
   days on market $74,000 Active 80 DOM
4. 2026-06-17
   days on market $74,000 Active 79 DOM
5. 2026-06-16
   days on market $74,000 Active 78 DOM
6. 2026-06-15
   days on market $74,000 Active 77 DOM
7. 2026-06-13
   days on market $74,000 Active 75 DOM
8. 2026-06-09
   days on market $74,000 Active 71 DOM
9. 2026-06-08
   days on market $74,000 Active 70 DOM
10. 2026-06-07
    days on market $74,000 Active 69 DOM
11. 2026-06-04
    days on market $74,000 Active 66 DOM
12. 2026-06-03
    days on market $74,000 Active 65 DOM
13. 2026-06-02
    days on market $74,000 Active 64 DOM
14. 2026-06-01
    days on market $74,000 Active 63 DOM
15. 2026-05-31
    days on market $74,000 Active 62 DOM
16. 2026-05-09
    price $74,000 529-char remark

    Show marketing remark (529 chars)

    Move-in ready second-floor 1-bed, 1-bath condo available for immediate occupancy. This updated unit features a private balcony, covered carport, carpeted living area, and a galley-style kitchen with stainless steel appliances. The full bath has been refreshed with a tile surround and modern fixtures, while the spacious bedroom offers dual closets for added storage. Shared basement includes dedicated storage space. Conveniently located near shopping, dining, and major roadways including I-94, I-696, and Metropolitan Parkway.

17. 2026-05-09
    price $74,000 529-char remark

    Show marketing remark (529 chars)

    Move-in ready second-floor 1-bed, 1-bath condo available for immediate occupancy. This updated unit features a private balcony, covered carport, carpeted living area, and a galley-style kitchen with stainless steel appliances. The full bath has been refreshed with a tile surround and modern fixtures, while the spacious bedroom offers dual closets for added storage. Shared basement includes dedicated storage space. Conveniently located near shopping, dining, and major roadways including I-94, I-696, and Metropolitan Parkway.

18. 2026-03-30
    listed $75,000 Active 529-char remark

    Show marketing remark (529 chars)

    Move-in ready second-floor 1-bed, 1-bath condo available for immediate occupancy. This updated unit features a private balcony, covered carport, carpeted living area, and a galley-style kitchen with stainless steel appliances. The full bath has been refreshed with a tile surround and modern fixtures, while the spacious bedroom offers dual closets for added storage. Shared basement includes dedicated storage space. Conveniently located near shopping, dining, and major roadways including I-94, I-696, and Metropolitan Parkway.

19. 2026-03-30
    listed $75,000 Active 529-char remark

    Show marketing remark (529 chars)

    Move-in ready second-floor 1-bed, 1-bath condo available for immediate occupancy. This updated unit features a private balcony, covered carport, carpeted living area, and a galley-style kitchen with stainless steel appliances. The full bath has been refreshed with a tile surround and modern fixtures, while the spacious bedroom offers dual closets for added storage. Shared basement includes dedicated storage space. Conveniently located near shopping, dining, and major roadways including I-94, I-696, and Metropolitan Parkway.

20. 2025-12-05
    historical
21. 2025-12-05
    historical
22. 2025-09-04
    listed $75,000 Active
23. 2025-09-04
    listed $75,000 Active
24. 2025-07-11
    soldstatus $55,800
25. 2025-07-07
    soldstatus $55,800 Closed
26. 2025-07-07
    soldstatus $55,800 Closed
27. 2025-06-04
    status Pending
28. 2025-06-04
    status Pending
29. 2025-05-23
    listed $60,000 Active
30. 2025-05-23
    listed $60,000 Active
31. 2025-05-20
    historical $60,000

ⓘ 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: $636 · $53/mo
• Projected year-2 tax: $834 · $70/mo
• Expected delta: +$198/yr (+$16/mo · 31.1%)

ⓘ 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 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥96°F today · 15 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,196
• − Mortgage interest: −$3,753
• − Property taxes: −$636
• − Insurance: −$335
• − Repairs & maintenance: −$1,056
• − Management: −$1,056
• − HOA: −$2,700
• − Depreciation: −$1,949
• Taxable income: $1,712
• Est. tax owed @ 24.0%: −$411
• After-tax cash flow: $2,127/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: Roseville Community Schools
• NCES district ID: 2630210
• Math proficiency: 11% ▼ -8.00%
• Reading proficiency: 24% ▼ -7.00%
• Median HH income: $41,590
• Composite: 14.98/100
• National rank: #9363
• State rank: #483 of 540 in MI

Livability — Roseville

• Score: 72/100
• State rank: #258
• US rank: #6400

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Roseville, MI
• County: Macomb County · 638,552 people
• City population: 47,123
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 47,123
• Household income: $62,182
• Rent vs Own: 34.4% rent · 65.6% own
• Severe rent burden: 1712.0

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 (65%)
• Race & ethnicity: White 65% Black 23% Two or more races 7% Hispanic / Latino 4% Asian 2%
• Common ancestry: Romanian 12% Lithuanian 4% Slovak 2%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 2% Russian/Polish/Slavic 1% Other Indo-European 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: ▼ -232.95%
• Current HPI: 217.4171
• Rent YoY: ▲ 0.39%
• 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

+23.3% since first listed

16 events — show timeline

• 2026-05-09 Price Changed $74,000 MiRealSource-MiMLS
• 2026-05-09 Price Changed $74,000 REALCOMP
• 2026-03-30 Listed $75,000 REALCOMP
• 2026-03-30 Listed $75,000 MiRealSource-MiMLS
• 2025-12-05 Listing Removed — MiRealSource-MiMLS
• 2025-12-05 Listing Removed — REALCOMP
• 2025-09-04 Listed $75,000 MiRealSource-MiMLS
• 2025-09-04 Listed $75,000 REALCOMP
• 2025-07-11 Sold (Public Records) $55,800 Public Records
• 2025-07-07 Sold (MLS) $55,800 REALCOMP
• 2025-07-07 Sold (MLS) $55,800 MiRealSource-MiMLS
• 2025-06-04 Pending — MiRealSource-MiMLS
• 2025-06-04 Pending — REALCOMP
• 2025-05-23 Listed $60,000 REALCOMP
• 2025-05-23 Listed $60,000 MiRealSource-MiMLS
• 2025-05-20 Coming Soon $60,000 MiRealSource-MiMLS

Property tax history

+3.1%/yr

Latest (2025): $636 · +4.3% YoY. Source: county tax records.