8120 24 Mile Rd · Utica, MI 48316

$149,900

2 bd · 1.0 ba · 1,000 sqft · Condo · 30 Days on market

Built 1976 Good condition $320/mo HOA · 20% 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).

• Cash flow +9.8/30.0
• ARV discount +7.5/15.0
• 1% rule +5.6/10.0
• Schools +4.1/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• DSCR +2.8/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Enjoy all that the Township of Shelby has to offer, including nearby parks, shopping, dining, and convenient expressway access. A new combination washer and dryer is included in the unit for added convenience. Located within the highly acclaimed Utica Community Schools district, this home offers excellent educational opportunities. Entertainment, community events, and beautiful parks are just around the corner. Additional features include a covered carport to protect your vehicle during the winter and summer months, a secure locked front entrance, and easy first-floor access for convenient living. The property is exceptionally well cared for and part of a cooperative, professionally maintai

Key facts

• $320 HOA
• Built 1976
• Listed 30 days

Property features AI

Finance

• Other: Approximate above-grade finished area: 1,000 square feet
• HOA & community: Homeowners association with monthly fee of $320

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential condominium; One-level
• Construction: Brick construction
• Exterior features: Pets allowed (contact for details); Subdivision: Cherry Creek; Located south of 24 Mile and east of Van Dyke

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Geothermal heating; Radiant heating; No central cooling
• Interior features: 6 total rooms; Basement present

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $150k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-97 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $136k (9.3% below list).
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $136k (9.3% below list) — sets the bar for cash-flow.
• Cap rate 5.5% vs local median 3.4% 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.
• Zoned schools: Issac Monfort Elementary School (math 43% / reading 57%, grade D+, #371 of 1,397 statewide, top 27%, 533 students, 38% FRL); Utica High School (math 33% / reading 62%, grade D, #185 of 713 statewide, top 26%, 1,368 students, 36% FRL).
• Market conditions: 177 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 20d on market — plan ~3-4 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 $1k 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.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y 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.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent.

Recommended offer $135,935 (9.3% 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. Built in 1976 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.06% ✓
• Cap rate: 5.52%
• Cash-on-cash: -2.76%
• DSCR: 0.88
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -20.7%
• Equity multiple: 0.28×
• Total profit: $-30,216
• Equity at exit: $22,351

10-year hold

• IRR: -13.6%
• Equity multiple: 0.21×
• Total profit: $-33,330
• Equity at exit: $12,961

Cash invested: $41,972 (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 48316

• Active inventory: 177
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,594 high
• Mortgage (P&I): −$786
• Tax est. 1.5%: −$187 /mo · $2,248/yr
• Insurance: −$62
• HOA: −$320
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $-97

Break-even live

Break-even rent $1,716

Max offer price $135,935

Occupancy floor —

Sensitivity live

Price	-10% $7	-5% $-45	+0% $-97	+5% $-148	+10% $-200
Rent	-10% $-222	-5% $-159	+0% $-97	+5% $-34	+10% $29
Rate	-1.0pp $-21	-0.5pp $-58	base $-97	+0.5pp $-135	+1.0pp $-175

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8162 24 Mile Rd Shelby Township, MI	2.0	1.0	938	$1,395	$1.49	1d	1	0.02mi
8252 Yorkshire Dr Unit 8252 Shelby Township, MI	2.0	2.0	1325	$1,675	$1.26	26d	1	0.06mi
8266 Promenade Cir Unit 8266 Shelby Township, MI	2.0	2.0	1325	$1,675	$1.26	20d	1	0.09mi
8170 W Annsbury Cir Shelby Township, MI	2.0	2.0	1300	$1,700	$1.31	20d	1	0.63mi
54342 Calusa Dr Shelby Township, MI	2.0	2.0	1235	$1,800	$1.46	26d	1	0.68mi
7959 Sal Mar Way Shelby Charter Township, MI	2.0–3.0	2.5	1492	$2,035	$1.36	0d	7	1.38mi
6143 Century Ct Shelby Township, MI	2.0	2.0	1200	$1,700	$1.42	0d	1	1.46mi

HOA detail condo

• Monthly dues: $320 · $3,840/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-21
   days on market $149,900 Active 30 DOM
2. 2026-06-18
   days on market $149,900 Active 27 DOM
3. 2026-06-17
   days on market $149,900 Active 26 DOM
4. 2026-06-16
   days on market $149,900 Active 25 DOM
5. 2026-06-15
   days on market $149,900 Active 24 DOM
6. 2026-06-13
   days on market $149,900 Active 22 DOM
7. 2026-06-13
   days on market $149,900 Active 21 DOM
8. 2026-06-09
   days on market $149,900 Active 18 DOM
9. 2026-06-08
   days on market $149,900 Active 17 DOM
10. 2026-06-07
    days on market $149,900 Active 16 DOM
11. 2026-06-04
    days on market $149,900 Active 13 DOM
12. 2026-06-03
    days on market $149,900 Active 12 DOM
13. 2026-06-02
    days on market $149,900 Active 11 DOM
14. 2026-06-01
    days on market $149,900 Active 10 DOM
15. 2026-05-31
    days on market $149,900 Active 9 DOM
16. 2026-05-22
    listed $149,900 Active
17. 2026-05-21
    listed $1,550
18. 2024-08-28
    historical $1,500
19. 2024-08-02
    listed $1,500

ⓘ 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,130
• − Mortgage interest: −$8,397
• − Property taxes: −$2,248
• − Insurance: −$750
• − Repairs & maintenance: −$1,530
• − Management: −$1,530
• − HOA: −$3,840
• − Depreciation: −$4,361
• Taxable loss: −$3,526
• Est. tax savings @ 24.0%: +$846
• After-tax cash flow: $-312/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This well-maintained and updated condo is in good condition with minimal repairs needed. It offers a good return on investment with potential for further value increases through cosmetic upgrades.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers/tenants.
• Both New flooring in high-traffic areas — Fresh flooring can improve the overall look and feel of the home, making it more appealing to buyers/tenants.
• Both Upgrading the kitchen appliances — Modern appliances can make the kitchen more functional and attractive to potential buyers/tenants.
• Both Upgrading the bathroom fixtures — Modern fixtures can make the bathroom more functional and attractive to potential buyers/tenants.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers/tenants. ↑
• Both New flooring in high-traffic areas — Fresh flooring can improve the overall look and feel of the home, making it more appealing to buyers/tenants. ↑
• Both Upgrading the kitchen appliances — Modern appliances can make the kitchen more functional and attractive to potential buyers/tenants. ↑
• Both Upgrading the bathroom fixtures — Modern fixtures can make the bathroom more functional and attractive to potential buyers/tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• Population (ZIP): 28,355

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 (89%)
• Race & ethnicity: White 89% Hispanic / Latino 3% Two or more races 3% Asian 3% Black 2%
• Common ancestry: Romanian 16% Lithuanian 4% Slovak 3%
• Foreign-born: 12% · Canada, China, South Korea
• Languages at home: 83% English-only · Other Indo-European 6% Russian/Polish/Slavic 4% Spanish 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: ▼ -200.39%
• Current HPI: 186.8397
• Rent YoY: —
• Metro: —
• 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

+9893.3% since first listed

4 events — show timeline

• 2026-05-22 Listed $149,900 REALCOMP
• 2026-05-21 Listed for Rent $1,550 REALCOMP
• 2024-08-28 Rental Removed $1,500 REALSOURCE
• 2024-08-02 Listed for Rent $1,500 REALSOURCE