1199 S Sheldon Rd Unit I64 · Plymouth, MI 48170

$119,000

1 bd · 1.0 ba · 770 sqft · SingleFamily public records · 24 Days on market

Built 1964 $155/sqft · 48% below area Est $230k · 48% under $376/mo HOA · 28% 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).

• ARV discount +15.0/15.0
• Cash flow +10.4/30.0
• 1% rule +6.2/10.0
• Schools +5.6/10.0
• Livability +4.2/5.0
• Rent growth +3.3/5.0
• DSCR +3.0/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Delightful Plymouth, Michigan, where a ready-to-move-in First floor condominium is just waiting to become your personal happy place. This inviting 55+ Community home, with its single bedroom and a single bathroom, is more than just a place to live; Hardwood floors under carpet, a cozy retreat after a day of conquering the world, or simply a charming spot to kick back and relax. Imagine waking up in your cozy bedroom, ready to greet the day with a smile. This is where sweet dreams are made and where you can truly unwind. This charming condominium also comes with a basement for storage, Washer/ Dryer Newer furnace (2018), Central Air (2018), There is a club house and inground pool for all Residents to enjoy

Key facts

• $376 HOA
• Community pool
• Built 1964

Property features AI

Finance

• Other: Senior community
• HOA & community: Homeowners association with a monthly fee of $376; HOA covers gas, grounds maintenance, building maintenance, snow removal, trash, and water

Exterior

• Parking: Parking lot (no garage)
• Utilities: Public water; Public sewer
• Home design: Residential condominium; One level; Ground-level entry
• Construction: Brick construction; Block foundation; Built with shingle roof not specified
• Exterior features: Community pool; Clubhouse; Paved road access; Pets allowed (cats and dogs)

Interior

• Kitchen: Free‑standing electric oven; Free‑standing refrigerator; Dishwasher
• Bedrooms: Total of 4 rooms (bedrooms included)
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating with natural gas
• Interior features: Electric water heater; Garbage disposal; Unfinished basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $-63 ($-755/yr) — negative.
• To cash-flow at today's rent, offer at most $108k (9.3% below list).
• Meets the 1% rule at list price ($1k rent vs $119k).
• Recommended offer: $108k (9.3% below list) — sets the bar for cash-flow.
• Cap rate 5.7% vs local median 3.1% in Plymouth — 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 85/100 on livability (#25 in MI, #516 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, employment A+; Watch: commute F.
• Plymouth-Canton Community Schools (suburban): math 58% / reading 66% proficiency, ranked #27 of 540 in MI (top 5%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 14% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+3.4%/yr); 234 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent is only 14% of the median local income ($114k/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 $823 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 28% of rent.

Recommended offer $107,885 (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 1964 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
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 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: 1.12% ✓
• Cap rate: 5.66%
• Cash-on-cash: -2.27%
• DSCR: 0.90
• GRM: 7.5

CMA / ARV

• ARV (median comp): $230,000
• List price: $119,000
• Delta: -48.26%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8880 Marlowe Ave	0.69mi	2/1.0 (+1)	744 (-3%)	2mo	$230,000	$309	55
8888 N Sheldon Rd	0.65mi	2/1.0 (+1)	800 (+4%)	16mo	$209,000	$261	45

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 · 3.38% rent growth · sell at horizon

5-year hold

• IRR: -19.2%
• Equity multiple: 0.32×
• Total profit: $-22,582
• Equity at exit: $17,743

10-year hold

• IRR: -10.5%
• Equity multiple: 0.34×
• Total profit: $-21,907
• Equity at exit: $10,289

Cash invested: $33,320 (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 48170

• Rents YoY: 3.4%
• Active inventory: 234
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,329 high
• Mortgage (P&I): −$624
• Tax from tax record: −$63 /mo · $760/yr
• Insurance: −$50
• HOA: −$376
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $-63

Break-even live

Break-even rent $1,409

Max offer price $107,885

Occupancy floor 100%

Sensitivity live

Price	-10% $4	-5% $-29	+0% $-63	+5% $-97	+10% $-130
Rent	-10% $-168	-5% $-115	+0% $-63	+5% $-10	+10% $42
Rate	-1.0pp $-3	-0.5pp $-33	base $-63	+0.5pp $-94	+1.0pp $-125

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1450 Ann Arbor Rd W #15 Plymouth, MI	2.0	1.0	1000	$1,200	$1.20	44d	1	0.22mi
1056 Byron St Unit D Plymouth, MI	1.0	1.0	625	$910	$1.46	0d	1	0.34mi
745 Coolidge St Plymouth, MI	2.0	1.0	1000	$1,699	$1.70	2d	1	0.82mi
12916 Heritage Plymouth, MI	1.0–3.0	1.0	812	$1,095	$1.35	0d	38	0.91mi
303 Roe St Plymouth, MI	1.0	1.0	626	$1,450	$2.32	44d	1	1.00mi
303 Roe St Unit 9 Plymouth, MI	1.0	1.0	640	$1,400	$2.19	25d	1	1.01mi
252 N Harvey St Apt 1 Plymouth, MI	2.0	1.0	760	$1,900	$2.50	25d	1	1.01mi
173 Pinewood Cir Plymouth, MI	2.0	1.0	995	$1,500	$1.51	44d	1	1.11mi
9126 N Lilley Rd Plymouth, MI	1.0–2.0	1.0	847	$1,019	$1.20	5d	6	1.14mi
230 Plymouth Rd Plymouth, MI	1.0	1.0	626	$1,400	$2.24	25d	1	1.42mi
301 Plymouth Rd Plymouth, MI	1.0–2.0	1.0–2.0	1119	$1,995	$1.78	0d	6	1.45mi

HOA detail

• Monthly dues: $376 · $4,512/yr
• Likely covers: pool

Listing history 2 events

1. 2026-04-28
   listed $119,000 Active 716-char remark

   Show marketing remark (714 chars)

   Delightful Plymouth, Michigan, where a ready-to-move-in First floor condominium is just waiting to become your personal happy place. This inviting 55+ Community home, with its single bedroom and a single bathroom, is more than just a place to live; Hardwood floors under carpet, a cozy retreat after a day of conquering the world, or simply a charming spot to kick back and relax. Imagine waking up in your cozy bedroom, ready to greet the day with a smile. This is where sweet dreams are made and where you can truly unwind. This charming condominium also comes with a basement for storage, Washer/ Dryer Newer furnace (2018), Central Air (2018), There is a club house and inground pool for all Residents to enjoy

2. 2026-04-28
   listed $119,000 Active 714-char remark

   Show marketing remark (714 chars)

   Delightful Plymouth, Michigan, where a ready-to-move-in First floor condominium is just waiting to become your personal happy place. This inviting 55+ Community home, with its single bedroom and a single bathroom, is more than just a place to live; Hardwood floors under carpet, a cozy retreat after a day of conquering the world, or simply a charming spot to kick back and relax. Imagine waking up in your cozy bedroom, ready to greet the day with a smile. This is where sweet dreams are made and where you can truly unwind. This charming condominium also comes with a basement for storage, Washer/ Dryer Newer furnace (2018), Central Air (2018), There is a club house and inground pool for all Residents to enjoy

ⓘ 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: $760 · $63/mo
• Projected year-2 tax: $1,296 · $108/mo
• Expected delta: +$536/yr (+$45/mo · 70.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $15,950
• − Mortgage interest: −$6,666
• − Property taxes: −$760
• − Insurance: −$595
• − Repairs & maintenance: −$1,276
• − Management: −$1,276
• − HOA: −$4,512
• − Depreciation: −$3,462
• Taxable loss: −$2,597
• Est. tax savings @ 24.0%: +$623
• After-tax cash flow: $-132/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: Plymouth-Canton Community Schools
• NCES district ID: 2628560
• Math proficiency: 58% ▼ -5.00%
• Reading proficiency: 66% ▼ -1.00%
• Median HH income: $82,996
• Composite: 55.86/100
• National rank: #1204
• State rank: #27 of 540 in MI

Livability — Plymouth

• Score: 85/100
• State rank: #25
• US rank: #516

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Plymouth, MI
• County: Wayne County · 1,562,939 people
• City population: 40,076
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 40,076
• Household income: $114,278
• Rent vs Own: 20.4% rent · 79.6% own
• Severe rent burden: 790.0

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 1,675,273 people
• By 2030: 1,620,300 · -3.3%
• By 2040: 1,502,341 · -10.3%
• By 2050: 1,384,039 · -17.4%
• By 2075: 1,124,592 · -32.9%
• By 2100: 881,193 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Two or more races 6% Asian 3% Hispanic / Latino 3% Black 2%
• Common ancestry: Romanian 12% Italian 4% Lithuanian 4%
• Foreign-born: 7% · Canada, China, South Korea
• Languages at home: 93% English-only · Other Indo-European 2% Spanish 1% Other Asian/Pacific 1%

Political lean MEDSL · Wayne

• 2024 margin: Strong D (+29.0) · D 62.7% · R 33.7% · Other 3.6%
• 2008→2024 swing: -20.5pp toward R · 2008: 49.5pp · 2024: 29.0pp
• All cycles: 2024: D+29.0 2020: D+38.1 2016: D+37.3 2012: D+46.9 2008: D+49.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -336.77%
• Current HPI: 208.6713
• Rent YoY: ▲ 3.38%
• 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

+0.8% since first listed

6 events — show timeline

• 2026-06-10 Sold (MLS) $120,000 MiRealSource-MiMLS
• 2026-06-10 Sold (MLS) $120,000 REALCOMP
• 2026-05-22 Pending — MiRealSource-MiMLS
• 2026-05-22 Pending — REALCOMP
• 2026-04-28 Listed $119,000 MiRealSource-MiMLS
• 2026-04-28 Listed $119,000 REALCOMP

Property tax history

+2.4%/yr

Latest (2025): $760 · +2.0% YoY. Source: county tax records.