22118 Elizabeth St · St. Clair Shores, MI 48080

$124,900

2 bd · 1.0 ba · 1,071 sqft · SingleFamily public records

Built 1955 5,663 sqft lot Est $208k · 40% under

---

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 +29.4/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Well kept by the same family for years! Great bones, updated and newer features! Roof, furnance, HWH. All hardwood floors, a great year for gardening. All newer windows, upadted electric. Letter on file for no showings until May 26th, 2026. Garage is undersized!

Key facts

• 5,663 sq ft lot
• Garage
• Built 1955

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $445 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Cap rate 10.6% vs local median 4.2% in St. Clair Shores — 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: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• South Lake Schools (suburban): math 11% / reading 26% proficiency, ranked #470 of 540 in MI (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 161 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals leasing fast (median 11d 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 $864 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $124,900

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.26% ✓
• Cap rate: 10.56%
• Cash-on-cash: 15.25%
• DSCR: 1.68
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $207,774
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
22118 Elizabeth St	0.00mi	3/1.0 (+1)	1,071 (0%)	1mo	$124,900	$117	94
21910 Englehardt St	0.15mi	2/1.0	1,071 (0%)	1mo	$242,000	$226	92
22417 Maxine St	0.19mi	3/1.0 (+1)	1,100 (+3%)	2mo	$173,900	$158	80
21910 Elizabeth St	0.13mi	2/1.5	984 (-8%)	1mo	$191,000	$194	78
22401 Gaukler St	0.22mi	2/1.0	988 (-8%)	1mo	$170,000	$172	76
22425 Sunnyside St	0.41mi	3/2.0 (+1)	1,100 (+3%)	0mo	$249,000	$226	67
21734 Colony St	0.35mi	3/1.5 (+1)	1,007 (-6%)	1mo	$199,305	$198	66
22679 Oconnor St	0.47mi	3/2.0 (+1)	1,000 (-7%)	2mo	$197,000	$197	57
20625 Avalon St	0.60mi	3/1.0 (+1)	1,000 (-7%)	1mo	$161,445	$161	55
21712 Lakeview St	0.57mi	3/1.0 (+1)	986 (-8%)	1mo	$116,000	$118	55
22628 O'connor St	0.38mi	3/1.0 (+1)	922 (-14%)	2mo	$185,000	$201	53
22150 Mauer St	0.55mi	3/1.5 (+1)	1,229 (+15%)	1mo	$238,000	$194	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 5.9%
• Equity multiple: 1.23×
• Total profit: $8,055
• Equity at exit: $18,623

10-year hold

• IRR: 15.3%
• Equity multiple: 2.24×
• Total profit: $43,397
• Equity at exit: $10,799

Cash invested: $34,972 (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 48080

• Active inventory: 161
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,570 high
• Mortgage (P&I): −$655
• Tax from tax record: −$88 /mo · $1,060/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$330
• Net cashflow: $445

Break-even live

Break-even rent $1,007

Max offer price $124,900

Occupancy floor 67%

Sensitivity live

Price	-10% $515	-5% $480	+0% $445	+5% $409	+10% $374
Rent	-10% $321	-5% $383	+0% $445	+5% $507	+10% $569
Rate	-1.0pp $507	-0.5pp $476	base $445	+0.5pp $412	+1.0pp $379

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
22307 Greater Mack Ave St Clair Shores, MI	2.0	1.0	806	$1,195	$1.48	3d	1	0.10mi
22126 Alger St Saint Clair Shores, MI	2.0	1.5	1060	$1,750	$1.65	11d	1	0.25mi
22411 Oconnor St Saint Clair Shores, MI	2.0	1.0	950	$1,250	$1.32	44d	1	0.29mi
22617 Oconnor St Saint Clair Shores, MI	3.0	1.0	923	$2,000	$2.17	2d	1	0.39mi
21633 Greater Mack Ave St Clair Shores, MI	1.0	1.0	990	$1,212	$1.22	2d	1	0.48mi
20625 Elizabeth St Saint Clair Shores, MI	3.0	2.0	1074	$1,895	$1.76	44d	1	0.49mi
22843 Grove St #47 Saint Clair Shores, MI	1.0	1.0	700	$1,100	$1.57	20d	1	0.54mi
23124 Grove St Saint Clair Shores, MI	3.0	1.0	1129	$2,000	$1.77	2d	1	0.60mi
23742 Greater Mack Ave St Clair Shores, MI	1.0	1.0	850	$1,700	$2.00	2d	1	0.61mi
2175 Ridgemont Rd Grosse Pointe Woods, MI	2.0	1.0	1100	$1,300	$1.18	44d	1	0.94mi
24000 Jefferson Ave Unit 218 St Clair Shores, MI	2.0	2.0	1000	$1,800	$1.80	44d	1	0.96mi
218 Riviera Dr St Clair Shores, MI	2.0	2.0	1000	$1,800	$1.80	44d	1	1.00mi
1992 Hawthorne Rd Grosse Pointe Woods, MI	3.0	2.0	1071	$2,100	$1.96	10d	1	1.01mi
401 Northshore Dr St Clair Shores, MI	2.0	1.0–1.5	970	$1,554	$1.60	2d	4	1.06mi
2037 Vernier Rd Grosse Pointe Woods, MI	2.0	1.0	850	$1,350	$1.59	44d	1	1.18mi
20270 Hollywood St Harper Woods, MI	3.0	1.0	1228	$1,650	$1.34	2d	1	1.24mi
24901 Jefferson Ave Unit 210 St Clair Shores, MI	2.0	1.0	700	$1,300	$1.86	5d	1	1.30mi
1150 Anita Ave Grosse Pointe Woods, MI	3.0	1.5	1129	$2,600	$2.30	10d	1	1.30mi
23005 Kelly Rd Eastpointe, MI	2.0	1.0	850	$1,250	$1.47	24d	1	1.41mi
22464 Beach St Saint Clair Shores, MI	2.0	1.5	1316	$2,300	$1.75	2d	1	1.43mi
21601 E 10 Mile Rd St Clair Shores, MI	1.0	1.0	750	$985	$1.31	25d	1	1.44mi

Listing history 4 events

1. 2026-05-18
   status Pending 262-char remark

   Show marketing remark (262 chars)

   Well kept by the same family for years! Great bones, updated and newer features! Roof, furnance, HWH. All hardwood floors, a great year for gardening. All newer windows, upadted electric. Letter on file for no showings until May 26th, 2026. Garage is undersized!

2. 2026-05-18
   listed $124,900 Active 262-char remark

   Show marketing remark (262 chars)

   Well kept by the same family for years! Great bones, updated and newer features! Roof, furnance, HWH. All hardwood floors, a great year for gardening. All newer windows, upadted electric. Letter on file for no showings until May 26th, 2026. Garage is undersized!

3. 2026-05-18
   price $124,900 262-char remark

   Show marketing remark (262 chars)

   Well kept by the same family for years! Great bones, updated and newer features! Roof, furnance, HWH. All hardwood floors, a great year for gardening. All newer windows, upadted electric. Letter on file for no showings until May 26th, 2026. Garage is undersized!

4. 2026-05-18
   price $124,900

   Show marketing remark (262 chars)

   Well kept by the same family for years! Great bones, updated and newer features! Roof, furnance, HWH. All hardwood floors, a great year for gardening. All newer windows, upadted electric. Letter on file for no showings until May 26th, 2026. Garage is undersized!

ⓘ 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: $1,060 · $88/mo
• Projected year-2 tax: $1,492 · $124/mo
• Expected delta: +$432/yr (+$36/mo · 40.7%)

ⓘ 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: $18,834
• − Mortgage interest: −$6,996
• − Property taxes: −$1,060
• − Insurance: −$624
• − Repairs & maintenance: −$1,507
• − Management: −$1,507
• − Depreciation: −$3,633
• Taxable income: $3,506
• Est. tax owed @ 24.0%: −$841
• After-tax cash flow: $4,493/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: South Lake Schools
• NCES district ID: 2632220
• Math proficiency: 11% ▼ -10.00%
• Reading proficiency: 26% ▼ -12.00%
• Median HH income: $51,594
• Composite: 16.76/100
• National rank: #9159
• State rank: #470 of 540 in MI

Livability — St. Clair Shores

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

Census & demographics

• Census place: St. Clair Shores, MI
• County: Macomb County · 638,552 people
• City population: 58,217
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 21,561
• Household income: $66,986
• Rent vs Own: 21.5% rent · 78.5% own
• Severe rent burden: 530.0

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 (83%)
• Race & ethnicity: White 83% Black 8% Two or more races 6% Hispanic / Latino 4% Asian 2%
• Common ancestry: Romanian 14% Lithuanian 5% Slovak 2%
• Foreign-born: 6% · Canada, Jamaica
• Languages at home: 92% English-only · Other Indo-European 3% Spanish 2% Russian/Polish/Slavic 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: ▼ -236.99%
• Current HPI: 231.507
• 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

+0.0% since first listed

4 events — show timeline

• 2026-05-18 Pending — MiRealSource-MiMLS
• 2026-05-18 Price Changed $124,900 REALCOMP
• 2026-05-18 Price Changed $124,900 MiRealSource-MiMLS
• 2026-05-18 Listed $124,900 MiRealSource-MiMLS

Property tax history

+2.4%/yr

Latest (2025): $1,060 · +0.3% YoY. Source: county tax records.