11720 15 Mile Rd Unit A9 · Sterling Heights, MI 48312

$131,000

2 bd · 1.0 ba · 900 sqft · Condo public records · 111 Days on market

Built 1973 $295/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 +13.4/30.0
• ARV discount +7.5/15.0
• 1% rule +6.5/10.0
• DSCR +4.0/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

GROUND LEVEL CONDO- Granite counter tops in kitchen and built in cabinet, ceramic floors throughout living room, kitchen, dining area, halls and bathroom. Lots of closet space. 10x14 Private storage area along with shared laundry room. Community pool. Water, heat/ gas are all included in maintenance fees, as well as exterior maintenance, snow removal, etc.

Key facts

• Community pool
• Ceramic floors
• Granite counter tops

Tags

• GRANITE COUNTER TOPS
• CERAMIC FLOORS
• CLOSET SPACE
• PRIVATE STORAGE AREA
• COMMUNITY POOL

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $131k.

Deal economics

• At list price, monthly cash flow is $3 ($39/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $131k).
• Recommended offer: $119k (9.0% below list) — sets the bar for market timing.
• Cap rate 6.3% vs local median 3.8% in Sterling Heights — 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 74/100 on livability (#173 in MI, #4,545 nationally) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety D+, amenities F.
• 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: Black Elementary School (math 12% / reading 27%, grade F, #1,110 of 1,397 statewide, top 81%, 421 students, 73% FRL); Carleton Middle School (math 15% / reading 37%, grade F, #383 of 493 statewide, top 78%, 659 students, 76% 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 68% FRL vs 48% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 163 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 5d 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 $906 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 111 days — a 9% lower offer ($119k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 17y ago; this cycle's ask has dropped $24k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; list at $131k implies a 64% gain — meaningful room to come down on a strong offer.

Recommended offer $119,210 (9.0% below list)

Questions for the listing agent

1. It's been on market 111 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 1973 — 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. 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: 1.15% ✓
• Cap rate: 6.32%
• Cash-on-cash: 0.11%
• DSCR: 1.00
• GRM: 7.2

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: -16.0%
• Equity multiple: 0.43×
• Total profit: $-20,826
• Equity at exit: $19,533

10-year hold

• IRR: -7.3%
• Equity multiple: 0.53×
• Total profit: $-17,073
• Equity at exit: $11,326

Cash invested: $36,680 (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 48312

• Active inventory: 163
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,507 high
• Mortgage (P&I): −$687
• Tax from tax record: −$150 /mo · $1,806/yr
• Insurance: −$55
• HOA: −$295
• Vacancy / Maint / Mgmt: −$316
• Net cashflow: $3

Break-even live

Break-even rent $1,503

Max offer price $131,000

Occupancy floor 95%

Sensitivity live

Price	-10% $77	-5% $40	+0% $3	+5% $-34	+10% $-71
Rent	-10% $-116	-5% $-56	+0% $3	+5% $63	+10% $122
Rate	-1.0pp $69	-0.5pp $37	base $3	+0.5pp $-31	+1.0pp $-65

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: $32,750
• Closing costs: $3,930
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8600 Beech Dr Sterling Heights, MI	1.0–2.0	1.0	900	$1,319	$1.47	0d	6	0.77mi
8484 Brougham Dr Sterling Heights, MI	1.0–3.0	1.0–2.0	885	$2,000	$2.26	0d	23	0.91mi
11221 14 Mile Rd Sterling Heights, MI	1.0–2.0	1.0–2.0	818	$1,550	$1.89	4d	6	1.01mi
13375 Stonegate Dr Sterling Heights, MI	2.0	1.0–2.0	950	$1,340	$1.41	5d	3	1.06mi
34911 Van Dyke Ave Sterling Heights, MI	1.0	1.0–2.0	800	$1,300	$1.62	45d	1	1.13mi
8100 Denwood Dr Sterling Heights, MI	1.0	1.0	525	$1,000	$1.90	16d	1	1.22mi

HOA detail condo

• Monthly dues: $295 · $3,540/yr
• Likely covers: watergassnow removalexterior maint.pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-05-14
   status Pending 358-char remark

   Show marketing remark (358 chars)

   GROUND LEVEL CONDO- Granite counter tops in kitchen and built in cabinet, ceramic floors throughout living room, kitchen, dining area, halls and bathroom. Lots of closet space. 10x14 Private storage area along with shared laundry room. Community pool. Water, heat/ gas are all included in maintenance fees, as well as exterior maintenance, snow removal, etc.

2. 2026-05-14
   status Pending 358-char remark

   Show marketing remark (358 chars)

   GROUND LEVEL CONDO- Granite counter tops in kitchen and built in cabinet, ceramic floors throughout living room, kitchen, dining area, halls and bathroom. Lots of closet space. 10x14 Private storage area along with shared laundry room. Community pool. Water, heat/ gas are all included in maintenance fees, as well as exterior maintenance, snow removal, etc.

3. 2026-02-19
   price $131,000 358-char remark

   Show marketing remark (358 chars)

   GROUND LEVEL CONDO- Granite counter tops in kitchen and built in cabinet, ceramic floors throughout living room, kitchen, dining area, halls and bathroom. Lots of closet space. 10x14 Private storage area along with shared laundry room. Community pool. Water, heat/ gas are all included in maintenance fees, as well as exterior maintenance, snow removal, etc.

4. 2026-02-18
   price $131,000 358-char remark

   Show marketing remark (358 chars)

   GROUND LEVEL CONDO- Granite counter tops in kitchen and built in cabinet, ceramic floors throughout living room, kitchen, dining area, halls and bathroom. Lots of closet space. 10x14 Private storage area along with shared laundry room. Community pool. Water, heat/ gas are all included in maintenance fees, as well as exterior maintenance, snow removal, etc.

5. 2026-02-04
   price $136,000 358-char remark

   Show marketing remark (358 chars)

   GROUND LEVEL CONDO- Granite counter tops in kitchen and built in cabinet, ceramic floors throughout living room, kitchen, dining area, halls and bathroom. Lots of closet space. 10x14 Private storage area along with shared laundry room. Community pool. Water, heat/ gas are all included in maintenance fees, as well as exterior maintenance, snow removal, etc.

6. 2026-02-03
   price $136,000 358-char remark

   Show marketing remark (358 chars)

   GROUND LEVEL CONDO- Granite counter tops in kitchen and built in cabinet, ceramic floors throughout living room, kitchen, dining area, halls and bathroom. Lots of closet space. 10x14 Private storage area along with shared laundry room. Community pool. Water, heat/ gas are all included in maintenance fees, as well as exterior maintenance, snow removal, etc.

7. 2026-01-18
   listed $155,000 Active 358-char remark

   Show marketing remark (358 chars)

   GROUND LEVEL CONDO- Granite counter tops in kitchen and built in cabinet, ceramic floors throughout living room, kitchen, dining area, halls and bathroom. Lots of closet space. 10x14 Private storage area along with shared laundry room. Community pool. Water, heat/ gas are all included in maintenance fees, as well as exterior maintenance, snow removal, etc.

8. 2026-01-18
   listed $155,000 Active 358-char remark

   Show marketing remark (358 chars)

   GROUND LEVEL CONDO- Granite counter tops in kitchen and built in cabinet, ceramic floors throughout living room, kitchen, dining area, halls and bathroom. Lots of closet space. 10x14 Private storage area along with shared laundry room. Community pool. Water, heat/ gas are all included in maintenance fees, as well as exterior maintenance, snow removal, etc.

9. 2018-11-13
   soldstatus $80,000
10. 2011-12-22
    soldstatus $28,000
11. 2010-03-12
    soldstatus $35,000
12. 2009-12-30
    historical
13. 2009-07-13
    listed $54,900
14. 2005-06-29
    soldstatus $71,900

ⓘ 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: $1,806 · $150/mo
• Projected year-2 tax: $1,912 · $159/mo
• Expected delta: +$106/yr (+$9/mo · 5.9%)

ⓘ 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 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,080
• − Mortgage interest: −$7,338
• − Property taxes: −$1,806
• − Insurance: −$655
• − Repairs & maintenance: −$1,446
• − Management: −$1,446
• − HOA: −$3,540
• − Depreciation: −$3,811
• Taxable loss: −$1,962
• Est. tax savings @ 24.0%: +$471
• After-tax cash flow: $510/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 — Sterling Heights

• Score: 74/100
• State rank: #173
• US rank: #4545

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Sterling Heights, MI
• County: Macomb County · 638,552 people
• City population: 133,573
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 34,401
• Household income: $68,061
• Rent vs Own: 25.4% rent · 74.6% own
• Severe rent burden: 910.0

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 (75%)
• Race & ethnicity: White 75% Black 9% Asian 9% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Romanian 14% Arab 3% Lithuanian 2%
• Foreign-born: 25% · Canada, China, Vietnam
• Languages at home: 66% English-only · Other Indo-European 8% Arabic 8% Russian/Polish/Slavic 3%

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: ▼ -279.41%
• Current HPI: 203.3039
• 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

+82.2% since first listed

14 events — show timeline

• 2026-05-14 Pending — MiRealSource-MiMLS
• 2026-05-14 Pending — REALCOMP
• 2026-02-19 Price Changed $131,000 MiRealSource-MiMLS
• 2026-02-18 Price Changed $131,000 REALCOMP
• 2026-02-04 Price Changed $136,000 MiRealSource-MiMLS
• 2026-02-03 Price Changed $136,000 REALCOMP
• 2026-01-18 Listed $155,000 REALCOMP
• 2026-01-18 Listed $155,000 MiRealSource-MiMLS
• 2018-11-13 Sold (Public Records) $80,000 Public Records
• 2011-12-22 Sold (Public Records) $28,000 Public Records
• 2010-03-12 Sold (Public Records) $35,000 Public Records
• 2009-12-30 Listing Removed — MiRealSource-MiMLS
• 2009-07-13 Listed $54,900 MiRealSource-MiMLS
• 2005-06-29 Sold (Public Records) $71,900 Public Records

Property tax history

+10.9%/yr

Latest (2025): $1,806 · +4.9% YoY. Source: county tax records.