8120 24 Mile Rd · Shelby, MI 48316

$139,900

2 bd · 1.0 ba · 938 sqft · Townhouse · 52 Days on market

Built 1970 Good condition $149/sqft · 32% below area Est $206k · 32% under $320/mo HOA · 28% 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
• Schools +4.9/10.0
• Cash flow +4.3/30.0
• Condition / age +3.8/5.0
• Livability +3.5/5.0
• 1% rule +3.3/10.0
• Rent growth +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Beautifully Updated First-Floor Condo in the Heart of Shelby Township! Welcome home to this beautifully remodeled 2-bedroom, 1-bath condo offering comfortable, low-maintenance living in one of Shelby Township's most convenient locations. This move-in ready first-floor unit features a bright, functional layout with tasteful updates throughout, along with the convenience of an in-unit washer and dryer combo unit. Additional highlights include covered carport parking, basement storage, and easy first-floor access. Enjoy being within walking distance to parks, shopping, restaurants, and everyday conveniences. The monthly association fee includes water, adding even more value and convenience.

Key facts

• First floor condo
• Basement storage
• $320 HOA

Tags

• FIRST FLOOR CONDO
• IN UNIT WASHER AND DRYER
• COVERED CARPORT PARKING
• BASEMENT STORAGE
• WALKING DISTANCE TO PARKS
• WALKING DISTANCE TO SHOPPING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath townhouse listed at $140k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-374 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $86k (38.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $116k (17.4% below list).
• Recommended offer: $86k (38.7% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 70/100 on livability (#324 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D+, amenities F, commute F.
• 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: 187 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,321 units permitted in Macomb County in 2024 (86 in 5+ unit buildings).
• This rent is only 14% of the median local income ($101k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 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 52 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 2y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 28% of rent.

Recommended offer $85,743 (38.7% 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. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 39% concession, seller financing, or rate buy-down credit?
3. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 0.83% ✗
• Cap rate: 3.08%
• Cash-on-cash: -11.47%
• DSCR: 0.49
• GRM: 10.1

CMA / ARV

• ARV (median comp): $206,148
• List price: $139,900
• Delta: -27.29%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8150 24 Mile Rd	0.04mi	2/1.0	938 (0%)	13mo	$130,000	$139	87
8214 24 Mile Rd	0.02mi	2/1.0	1,000 (+7%)	3mo	$109,000	$109	86
53274 Providence Dr	0.17mi	2/2.0	1,118 (+19%)	0mo	$215,000	$192	63
53274 Providence Dr W	0.17mi	2/2.0	1,118 (+19%)	0mo	$215,000	$192	63
53092 Providence Dr	0.15mi	2/2.0	1,117 (+19%)	7mo	$210,000	$188	58
53128 E PROVIDENCE Dr	0.14mi	2/2.0	1,117 (+19%)	15mo	$224,900	$201	52
53112 Providence Dr	0.14mi	2/2.0	1,117 (+19%)	16mo	$215,000	$192	51

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: -37.0%
• Equity multiple: -0.18×
• Total profit: $-46,293
• Equity at exit: $20,860

10-year hold

• IRR: -51.1%
• Equity multiple: -0.79×
• Total profit: $-70,135
• Equity at exit: $12,096

Cash invested: $39,172 (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 →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 1 active · 4 under contract
• Months of supply: 1.5 mo (67%/mo absorbed)
• Median asking: $139,900 ($149/sqft)
• Median days on market: 52 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +47.4% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 48316

• Active inventory: 187
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,155 medium
• Mortgage (P&I): −$734
• Tax est. 1.5%: −$175 /mo · $2,098/yr
• Insurance: −$58
• HOA: −$320
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $-374

Break-even live

Break-even rent $1,629

Max offer price $85,743

Occupancy floor —

Sensitivity live

Price	-10% $-278	-5% $-326	+0% $-374	+5% $-423	+10% $-471
Rent	-10% $-466	-5% $-420	+0% $-374	+5% $-329	+10% $-283
Rate	-1.0pp $-304	-0.5pp $-339	base $-374	+0.5pp $-411	+1.0pp $-447

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: $34,975
• Closing costs: $4,197
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8162 24 Mile Rd #20 Shelby Township, MI	2.0	1.0	938	$1,100	$1.17	60d	1	0.06mi
54344 E Annsbury Cir Shelby Township, MI	2.0	2.0	1106	$1,600	$1.45	55d	1	0.68mi

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee of $320HOA fee includes grounds maintenance, snow removal and water

Exterior

• Parking: Carport
• Utilities: Public waterPublic sewer
• Home design: Residential condominiumOne level
• Construction: Brick construction
• Exterior features: No poolGrounds maintenance provided by associationSubdivision: CHERRY CREEK CONDOSCross streets: 24 Mile Rd / Van Dyke

Interior

• Kitchen: MicrowaveOvenRangeRefrigeratorOther appliance(s)
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heatingRadiant heatingWall/window air conditioning unit(s)
• Interior features: Walk-in closet(s)Crawl space and storage area in basement

HOA detail $320/mo · $3,840/yr

• Likely covers: water

Listing history 50 events

1. 2026-09-23
   days on market $139,900 Active 52 DOM
2. 2026-09-22
   days on market $139,900 Active 51 DOM
3. 2026-09-21
   days on market $139,900 Active 50 DOM
4. 2026-09-20
   days on market $139,900 Active 49 DOM
5. 2026-09-19
   days on market $139,900 Active 48 DOM
6. 2026-09-18
   days on market $139,900 Active 47 DOM
7. 2026-09-17
   days on market $139,900 Active 46 DOM
8. 2026-09-16
   days on market $139,900 Active 45 DOM
9. 2026-09-15
   days on market $139,900 Active 44 DOM
10. 2026-09-14
    days on market $139,900 Active 43 DOM
11. 2026-09-13
    days on market $139,900 Active 42 DOM
12. 2026-09-12
    days on market $139,900 Active 41 DOM
13. 2026-09-11
    pricedays on market $139,900 Active 40 DOM
14. 2026-09-05
    days on market $149,900 Active 34 DOM
15. 2026-09-04
    days on market $149,900 Active 33 DOM
16. 2026-09-03
    days on market $149,900 Active 32 DOM
17. 2026-08-31
    days on market $149,900 Active 29 DOM
18. 2026-08-30
    days on market $149,900 Active 28 DOM
19. 2026-08-29
    days on market $149,900 Active 27 DOM
20. 2026-08-28
    days on market $149,900 Active 26 DOM
21. 2026-08-27
    days on market $149,900 Active 25 DOM
22. 2026-08-26
    days on market $149,900 Active 24 DOM
23. 2026-08-25
    days on market $149,900 Active 23 DOM
24. 2026-08-24
    days on market $149,900 Active 22 DOM
25. 2026-08-23
    days on market $149,900 Active 21 DOM
26. 2026-08-22
    days on market $149,900 Active 20 DOM
27. 2026-08-21
    days on market $149,900 Active 19 DOM
28. 2026-08-20
    days on market $149,900 Active 18 DOM
29. 2026-08-19
    days on market $149,900 Active 17 DOM
30. 2026-08-18
    days on market $149,900 Active 16 DOM
31. 2026-08-17
    days on market $149,900 Active 15 DOM
32. 2026-08-16
    days on market $149,900 Active 14 DOM
33. 2026-08-15
    days on market $149,900 Active 13 DOM
34. 2026-08-14
    days on market $149,900 Active 12 DOM
35. 2026-08-13
    days on market $149,900 Active 11 DOM
36. 2026-08-12
    days on market $149,900 Active 10 DOM
37. 2026-08-11
    days on market $149,900 Active 9 DOM
38. 2026-08-10
    days on market $149,900 Active 8 DOM
39. 2026-08-09
    days on market $149,900 Active 7 DOM
40. 2026-08-08
    days on market $149,900 Active 6 DOM
41. 2026-08-06
    days on market $149,900 Active 4 DOM
42. 2026-08-05
    days on market $149,900 Active 3 DOM
43. 2026-08-04
    days on market $149,900 Active 2 DOM
44. 2026-08-03
    days on marketlisting id $149,900 Active 1 DOM
45. 2026-07-30
    days on market $149,900 Active 68 DOM
46. 2026-07-28
    days on market $149,900 Active 67 DOM
47. 2026-07-26
    days on market $149,900 Active 65 DOM
48. 2026-07-24
    days on market $149,900 Active 63 DOM
49. 2026-07-23
    days on market $149,900 Active 62 DOM
50. 2026-07-22
    days on market $149,900 Active 61 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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,862
• − Mortgage interest: −$7,837
• − Property taxes: −$2,098
• − Insurance: −$700
• − Repairs & maintenance: −$1,109
• − Management: −$1,109
• − HOA: −$3,840
• − Depreciation: −$4,070
• Taxable loss: −$6,901
• Est. tax savings @ 24.0%: +$1,656
• After-tax cash flow: $-2,835/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 Est. rehab $4,690–$14,070 screening

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. ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 49/100

Zoned Schools

Elementary Issac Monfort Elementary School D+ MI #371/1,397 Nat'l #12,529/41,679 High Utica High School D MI #185/713 Nat'l #6,282/17,239

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

B Composite livability gradescore 70/100

Livability — Shelby

• Score: 70/100
• State rank: #324
• US rank: #7973

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Macomb · 925,296 people
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 28,355
• Household income: $101,232
• Rent vs Own: 19.8% rent · 80.2% own
• Severe rent burden: 12% of renters

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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%

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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%

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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

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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

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee of $320HOA fee includes grounds maintenance, snow removal and water

Exterior

• Parking: Carport
• Utilities: Public waterPublic sewer
• Home design: Residential condominiumOne level
• Construction: Brick construction
• Exterior features: No poolGrounds maintenance provided by associationSubdivision: CHERRY CREEK CONDOSCross streets: 24 Mile Rd / Van Dyke

Interior

• Kitchen: MicrowaveOvenRangeRefrigeratorOther appliance(s)
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heatingRadiant heatingWall/window air conditioning unit(s)
• Interior features: Walk-in closet(s)Crawl space and storage area in basement

Price history

+9893.3% since first listed

6 events — show timeline

• 2026-08-02 Listed $149,900 REALCOMP
• 2026-07-30 Rental Removed $1,550 REALCOMP
• 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