29960 City Center Dr #1 · Warren, MI 48093

$129,900

2 bd · 1.5 ba · 1,311 sqft · Condo public records · 118 Days on market

Built 1970 $99/sqft · at area comps Est $127k · at est. $426/mo HOA · 25% 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 +13.7/30.0
• 1% rule +7.9/10.0
• ARV discount +6.7/15.0
• DSCR +4.1/10.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

PERFECTLY LOCATED !! 2 Bedroom, 1.5 Bath Condo. Spacious Living Room Open to Dining Area & Kitchen w/ Plenty of Cabinet Space & Pantry. Spacious Laundry Room & Half Bathroom off of Kitchen. Huge Primary Bedroom w/ Large Walk-In Closet. 2nd Bedroom & Full Bathroom Upstairs. Assigned Parking. Minutes to City Hall, GM Tech Center, Detroit Arsenal, Hospital & Cadillac Tower! Walking distance to Restaurants, Entertainment, Gyms, Shopping, Schools & Parks! HOA includes: Grounds Maintenance, Structure, Water, Snow Removal & Partial Electricity. Minutes to I-696.

Key facts

• Pantry
• Cabinet space
• Custom built ins

Tags

• CABINET SPACE
• PANTRY
• PLENTIFUL CLOSET SPACE
• CUSTOM BUILT INS
• WALKING DISTANCE TO GYMS
• WALKING DISTANCE TO SHOPPING

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $10 ($120/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $118k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.4% vs local median 5.2% in Warren — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 74/100 on livability (#171 in MI, #4,491 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities D, employment D, crime D-.
• Warren Consolidated Schools (urban): math 18% / reading 39% proficiency, ranked #373 of 540 in MI (top 69%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Cromie Elementary School (math 16% / reading 26%, grade F, #1,081 of 1,397 statewide, top 77%, 570 students, 74% FRL); Carter Middle School (math 15% / reading 40%, grade F, #363 of 493 statewide, top 75%, 684 students, 65% FRL); Cousino Senior High School (math 25% / reading 53%, grade F, #328 of 713 statewide, top 46%, 1,279 students, 56% FRL) — zoned schools average 65% FRL vs 48% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+2.5%/yr); 128 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 7d 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 $898 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 118 days — a 9% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 3 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.
• Current owner paid $89k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.

Recommended offer $118,209 (9.0% below list)

Questions for the listing agent

1. It's been on market 118 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — 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 D-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 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?
9. 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?
10. 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.
11. 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.
12. 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: 1.29% ✓
• Cap rate: 6.39%
• Cash-on-cash: 0.33%
• DSCR: 1.01
• GRM: 6.5

CMA / ARV

• ARV (median comp): $127,498
• List price: $129,900
• Delta: 1.88%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.52% rent growth · sell at horizon

5-year hold

• IRR: -16.3%
• Equity multiple: 0.42×
• Total profit: $-20,937
• Equity at exit: $19,369

10-year hold

• IRR: -8.8%
• Equity multiple: 0.46×
• Total profit: $-19,542
• Equity at exit: $11,231

Cash invested: $36,372 (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 48093

• Rents YoY: 2.5%
• Active inventory: 128
• Price-to-rent: 6.5×

Monthly cashflow live

• Estimated rent: $1,678 high
• Mortgage (P&I): −$681
• Tax from tax record: −$154 /mo · $1,852/yr
• Insurance: −$54
• HOA: −$426
• Vacancy / Maint / Mgmt: −$352
• Net cashflow: $10

Break-even live

Break-even rent $1,665

Max offer price $129,900

Occupancy floor 94%

Sensitivity live

Price	-10% $84	-5% $47	+0% $10	+5% $-27	+10% $-64
Rent	-10% $-123	-5% $-56	+0% $10	+5% $76	+10% $143
Rate	-1.0pp $75	-0.5pp $43	base $10	+0.5pp $-24	+1.0pp $-58

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11116 Racine Rd Warren, MI	3.0	1.5	1433	$2,000	$1.40	0d	1	0.29mi
8457 Towne Center Cir Unit 90 Warren, MI	2.0	2.0	1319	$1,800	$1.36	45d	1	0.32mi
8459 Towne Center Cir N #96 Warren, MI	2.0	2.5	1646	$2,000	$1.22	0d	1	0.33mi
29400 Towne Center Cir Warren, MI	1.0–3.0	1.0–2.0	1114	$1,749	$1.57	0d	1	0.34mi
8429 Towne Center Cir S #52 Warren, MI	2.0	2.0	1240	$1,775	$1.43	26d	1	0.37mi
29250 Longview Ave Apt 14 Warren, MI	2.0	1.0	950	$1,000	$1.05	45d	1	0.41mi
31727 Hoover Rd Unit 21 Warren, MI	2.0	1.0	900	$1,395	$1.55	6d	1	1.02mi
28801 Imperial Dr Warren, MI	1.0–2.0	1.0	887	$1,205	$1.36	18d	6	1.05mi
28250 Hoover Rd Warren, MI	1.0–2.0	1.0–2.0	912	$1,640	$1.80	1d	17	1.06mi
30428 Iroquois Dr Warren, MI	3.0	1.0	1000	$1,800	$1.80	3d	1	1.22mi

HOA detail condo

• Monthly dues: $426 · $5,112/yr
• Likely covers: waterelectriclandscapingsnow removalgymparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-21
   days on market $129,900 Active 118 DOM
2. 2026-06-18
   days on market $129,900 Active 115 DOM
3. 2026-06-17
   days on market $129,900 Active 114 DOM
4. 2026-06-16
   days on market $129,900 Active 113 DOM
5. 2026-06-15
   days on market $129,900 Active 112 DOM
6. 2026-06-13
   days on market $129,900 Active 110 DOM
7. 2026-06-09
   days on market $129,900 Active 106 DOM
8. 2026-06-08
   days on market $129,900 Active 105 DOM
9. 2026-06-07
   days on market $129,900 Active 104 DOM
10. 2026-06-04
    days on market $129,900 Active 101 DOM
11. 2026-06-03
    days on market $129,900 Active 100 DOM
12. 2026-06-02
    days on market $129,900 Active 99 DOM
13. 2026-06-01
    days on market $129,900 Active 98 DOM
14. 2026-05-31
    days on market $129,900 Active 97 DOM
15. 2026-05-11
    status Active 603-char remark

    Show marketing remark (603 chars)

    PERFECTLY LOCATED !! 2 Bedroom, 1.5 Bath Condo. Spacious Living Room Open to Dining Area & Kitchen w/ Plenty of Cabinet Space & Pantry. Spacious Laundry Room & Half Bathroom off of Kitchen. Huge Primary Bedroom w/ Large Walk-In Closet. 2nd Bedroom & Full Bathroom Upstairs. Assigned Parking. Minutes to City Hall, GM Tech Center, Detroit Arsenal, Hospital & Cadillac Tower! Walking distance to Restaurants, Entertainment, Gyms, Shopping, Schools & Parks! HOA includes: Grounds Maintenance, Structure, Water, Snow Removal & Partial Electricity. Minutes to I-696.

16. 2026-05-11
    historical 603-char remark

    Show marketing remark (603 chars)

    PERFECTLY LOCATED !! 2 Bedroom, 1.5 Bath Condo. Spacious Living Room Open to Dining Area & Kitchen w/ Plenty of Cabinet Space & Pantry. Spacious Laundry Room & Half Bathroom off of Kitchen. Huge Primary Bedroom w/ Large Walk-In Closet. 2nd Bedroom & Full Bathroom Upstairs. Assigned Parking. Minutes to City Hall, GM Tech Center, Detroit Arsenal, Hospital & Cadillac Tower! Walking distance to Restaurants, Entertainment, Gyms, Shopping, Schools & Parks! HOA includes: Grounds Maintenance, Structure, Water, Snow Removal & Partial Electricity. Minutes to I-696.

17. 2026-02-24
    listed $134,900 Active 603-char remark

    Show marketing remark (603 chars)

    PERFECTLY LOCATED !! 2 Bedroom, 1.5 Bath Condo. Spacious Living Room Open to Dining Area & Kitchen w/ Plenty of Cabinet Space & Pantry. Spacious Laundry Room & Half Bathroom off of Kitchen. Huge Primary Bedroom w/ Large Walk-In Closet. 2nd Bedroom & Full Bathroom Upstairs. Assigned Parking. Minutes to City Hall, GM Tech Center, Detroit Arsenal, Hospital & Cadillac Tower! Walking distance to Restaurants, Entertainment, Gyms, Shopping, Schools & Parks! HOA includes: Grounds Maintenance, Structure, Water, Snow Removal & Partial Electricity. Minutes to I-696.

18. 2026-02-24
    listed $134,900 Active 603-char remark

    Show marketing remark (603 chars)

    PERFECTLY LOCATED !! 2 Bedroom, 1.5 Bath Condo. Spacious Living Room Open to Dining Area & Kitchen w/ Plenty of Cabinet Space & Pantry. Spacious Laundry Room & Half Bathroom off of Kitchen. Huge Primary Bedroom w/ Large Walk-In Closet. 2nd Bedroom & Full Bathroom Upstairs. Assigned Parking. Minutes to City Hall, GM Tech Center, Detroit Arsenal, Hospital & Cadillac Tower! Walking distance to Restaurants, Entertainment, Gyms, Shopping, Schools & Parks! HOA includes: Grounds Maintenance, Structure, Water, Snow Removal & Partial Electricity. Minutes to I-696.

19. 2003-07-09
    soldstatus $88,900
20. 1995-08-18
    soldstatus $56,700

ⓘ 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: $1,852 · $154/mo
• Projected year-2 tax: $1,926 · $161/mo
• Expected delta: +$74/yr (+$6/mo · 4.0%)

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

Climate risk First Street

• 🌊 Flood 2/10 Low FEMA zone X (unshaded) · 9% 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $20,137
• − Mortgage interest: −$7,276
• − Property taxes: −$1,852
• − Insurance: −$650
• − Repairs & maintenance: −$1,611
• − Management: −$1,611
• − HOA: −$5,112
• − Depreciation: −$3,779
• Taxable loss: −$1,754
• Est. tax savings @ 24.0%: +$421
• After-tax cash flow: $541/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: Warren Consolidated Schools
• NCES district ID: 2635190
• Math proficiency: 18% ▼ -14.00%
• Reading proficiency: 39% ▼ -8.00%
• Median HH income: $52,259
• Composite: 25.09/100
• National rank: #7533
• State rank: #373 of 540 in MI

Livability — Warren

• Score: 74/100
• State rank: #171
• US rank: #4491

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Warren, MI
• County: Macomb County · 638,552 people
• City population: 114,937
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 25,014
• Household income: $68,218
• Rent vs Own: 25.5% rent · 74.5% own
• Severe rent burden: 632.0

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 (66%)
• Race & ethnicity: White 66% Black 18% Asian 9% Two or more races 6% Hispanic / Latino 1%
• Common ancestry: Romanian 14% Lithuanian 3% Arab 2%
• Foreign-born: 15% · Vietnam, Canada, China
• Languages at home: 80% English-only · Other Indo-European 5% Arabic 4% Russian/Polish/Slavic 4%

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: ▼ -223.26%
• Current HPI: 203.6554
• Rent YoY: ▲ 2.52%
• 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

+137.9% since first listed

6 events — show timeline

• 2026-05-11 Relisted — REALCOMP
• 2026-05-11 Listing Removed — REALCOMP
• 2026-02-24 Listed $134,900 MiRealSource-MiMLS
• 2026-02-24 Listed $134,900 REALCOMP
• 2003-07-09 Sold (Public Records) $88,900 Public Records
• 1995-08-18 Sold (Public Records) $56,700 Public Records

Property tax history

+3.9%/yr

Latest (2025): $1,852 · +2.2% YoY. Source: county tax records.