48582 Lakeview Cir · Shelby, MI 48317

$40,000

2 bd · 2.0 ba · 1,035 sqft · Other · 29 Days on market

Built 1988 4,792 sqft lot $39/sqft · 84% below area ↓ 33% since listing

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.1/10.0
• Livability +3.5/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully maintained 2-bedroom, 2-bath waterfront home nestled in the highly desirable Dequindre Estates community in Shelby Township. Offering the perfect blend of comfort, functionality, and serene lakeside living. Step inside to discover a bright and spacious layout featuring elegant marble window sills, newer ceiling fans, and excellent insulation for year-round energy efficiency and comfort. The generously sized primary suite includes a walk-in closet and zacuzzi tub, while the home's two full bathrooms provide convenience for both everyday living and guests alike. The kitchen has a newer stove, along with a brand-new sink and faucet installed in December 2024. Additional major improvements include new PEX plumbing completed in 2016, premium Wallside Windows backed by a 35-year transferable warranty, and a “Mr. Roof” roof installed in 2005 featuring an impressive 50-year transferable guarantee - offering peace of mind for years to come. Step outside to your private backyard deck overlooking the all-sports lake, Install a dock on the lake and put your boat right in your backyard where you can relax and enjoy breathtaking waterfront views, summer boating activities, and even the annual Shelby Township fireworks right from home. Conveniently located near Borden Park, this property also offers easy access to parks, recreation, shopping, dining, and everything both Shelby Township and Rochester Hills have to offer. The price reflects the opportunity for a future deck replacement, allowing the next owner to customize the outdoor space to their personal style. Waterfront comparable homes within the community command significantly higher prices, making this an incredible opportunity to own lakefront property in a prime location at a very low price. Lot rent for new buyers in 2026 will be about $968/month. Don't miss your opportunity to enjoy peaceful waterfront living with exceptional value and unbeatable surroundings!

Key facts

• Excellent insulation
• Newer ceiling fans
• Waterfront home

Tags

• WATERFRONT HOME
• DEQUINDRE ESTATES COMMUNITY
• MARBLE WINDOW SILLS
• NEWER CEILING FANS
• EXCELLENT INSULATION
• WALK-IN CLOSET

Property features AI

Finance

• Other: Pets allowed

Exterior

• Parking: No garage; assigned parking
• Utilities: Public water; Public sewer; Underground utilities
• Home design: Single-family residence; One level (ground-level entry); Vinyl siding; Pillar/post/pier foundation
• Construction: Asphalt roof
• Exterior features: Deck; Beachfront and lakefront access with lake privileges; Waterfront property on Lakeview Lake; Paved road access

Interior

• Kitchen: Dishwasher; Free-standing gas range; Free-standing refrigerator
• Bedrooms: Total of 6 rooms (includes bedrooms and living spaces)
• Bathrooms: 2 full bathrooms
• Interior features: Gas water heater; Ceiling fan(s); Open to view / Has view
• Laundry & utility: Laundry room with washer and dryer

🏷️ Possibly a rental listed for sale. The $40,000 price doesn't fit this home's estimated sale value (~$247,302) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath other listed at $40k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $40k).
• Recommended offer: $39k (1.5% below list) — sets the bar for market timing.
• Cap rate 38.9% vs local median 3.2% in Shelby — 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 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+, schools F, amenities 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.
• Market conditions: Rents rising (+3.4%/yr); 101 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 4d 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 $277 of loan paydown is wiped out by about $1k 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.
• At projected returns (-3.0% appreciation + 3.4% rent growth), your $11k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($39k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $8k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $39,400 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
5. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
6. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
7. 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.
8. 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.
9. 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: 4.31% ✓
• Cap rate: 38.86%
• Cash-on-cash: 116.32%
• DSCR: 6.18
• GRM: 1.9

CMA / ARV

• ARV (median comp): $247,302
• List price: $40,000
• Delta: -83.83%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.4% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.66×
• Total profit: $63,384
• Equity at exit: $5,964

10-year hold

• IRR: —
• Equity multiple: 14.14×
• Total profit: $147,215
• Equity at exit: $3,458

Cash invested: $11,200 (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 48317

• Rents YoY: 3.4%
• Active inventory: 101
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,724 high
• Mortgage (P&I): −$210
• Tax est. 1.5%: −$50 /mo · $600/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$362
• Net cashflow: $1,086

Break-even live

Break-even rent $350

Max offer price $40,000

Occupancy floor 32%

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: $10,000
• Closing costs: $1,200
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2427 Partridge Dr Shelby Township, MI	2.0	2.0	1438	$1,920	$1.33	4d	6	0.15mi
46280 Dequindre Rd Shelby Township, MI	1.0–3.0	1.0–1.5	912	$1,412	$1.55	4d	14	1.19mi
3113 Emmons Ave Rochester Hills, MI	2.0	2.0	1200	$1,800	$1.50	16d	1	1.27mi
1090 Academy Dr Rochester Hills, MI	2.0–3.0	2.0	1565	$2,185	$1.40	1d	1	1.37mi
47086 Auburn Ct Shelby Township, MI	2.0	1.5	968	$1,750	$1.81	3d	1	1.41mi
1901 Village Green Blvd Rochester Hills, MI	3.0	1.0–2.0	1025	$2,185	$2.13	1d	28	1.44mi
1880 E Avon Rd Rochester Hills, MI	2.0	2.0	1294	$4,470	$3.45	1d	1	1.50mi

Listing history 15 events

1. 2026-06-13
   statusdays on market $40,000 Pending 29 DOM
2. 2026-06-09
   days on market $40,000 Active 28 DOM
3. 2026-06-08
   days on market $40,000 Active 27 DOM
4. 2026-06-07
   days on market $40,000 Active 26 DOM
5. 2026-06-04
   days on market $40,000 Active 23 DOM
6. 2026-06-03
   days on market $40,000 Active 22 DOM
7. 2026-06-02
   days on market $40,000 Active 21 DOM
8. 2026-06-01
   days on market $40,000 Active 20 DOM
9. 2026-05-31
   days on market $40,000 Active 19 DOM
10. 2026-05-12
    listed $47,500 Active 1997-char remark

    Show marketing remark (2001 chars)

    Welcome to this beautifully maintained 2-bedroom, 2-bath waterfront home nestled in the highly desirable Dequindre Estates community in Shelby Township. Offering the perfect blend of comfort, functionality, and serene lakeside living. Step inside to discover a bright and spacious layout featuring elegant marble window sills, newer ceiling fans, and excellent insulation for year-round energy efficiency and comfort. The generously sized primary suite includes a walk-in closet and zacuzzi tub, while the home's two full bathrooms provide convenience for both everyday living and guests alike. The kitchen has a newer stove, along with a brand-new sink and faucet installed in December 2024. Additional major improvements include new PEX plumbing completed in 2016, premium Wallside Windows backed by a 35-year transferable warranty, and a “Mr. Roof” roof installed in 2005 featuring an impressive 50-year transferable guarantee - offering peace of mind for years to come. Step outside to your private backyard deck overlooking the all-sports lake, Install a dock on the lake and put your boat right in your backyard where you can relax and enjoy breathtaking waterfront views, summer boating activities, and even the annual Shelby Township fireworks right from home. Conveniently located near Borden Park, this property also offers easy access to parks, recreation, shopping, dining, and everything both Shelby Township and Rochester Hills have to offer. The price reflects the opportunity for a future deck replacement, allowing the next owner to customize the outdoor space to their personal style. Waterfront comparable homes within the community command significantly higher prices, making this an incredible opportunity to own lakefront property in a prime location at a very low price. Lot rent for new buyers in 2026 will be about $968/month. Don't miss your opportunity to enjoy peaceful waterfront living with exceptional value and unbeatable surroundings!

11. 2026-05-12
    listed $47,500 Active 2001-char remark

    Show marketing remark (2001 chars)

    Welcome to this beautifully maintained 2-bedroom, 2-bath waterfront home nestled in the highly desirable Dequindre Estates community in Shelby Township. Offering the perfect blend of comfort, functionality, and serene lakeside living. Step inside to discover a bright and spacious layout featuring elegant marble window sills, newer ceiling fans, and excellent insulation for year-round energy efficiency and comfort. The generously sized primary suite includes a walk-in closet and zacuzzi tub, while the home's two full bathrooms provide convenience for both everyday living and guests alike. The kitchen has a newer stove, along with a brand-new sink and faucet installed in December 2024. Additional major improvements include new PEX plumbing completed in 2016, premium Wallside Windows backed by a 35-year transferable warranty, and a “Mr. Roof” roof installed in 2005 featuring an impressive 50-year transferable guarantee - offering peace of mind for years to come. Step outside to your private backyard deck overlooking the all-sports lake, Install a dock on the lake and put your boat right in your backyard where you can relax and enjoy breathtaking waterfront views, summer boating activities, and even the annual Shelby Township fireworks right from home. Conveniently located near Borden Park, this property also offers easy access to parks, recreation, shopping, dining, and everything both Shelby Township and Rochester Hills have to offer. The price reflects the opportunity for a future deck replacement, allowing the next owner to customize the outdoor space to their personal style. Waterfront comparable homes within the community command significantly higher prices, making this an incredible opportunity to own lakefront property in a prime location at a very low price. Lot rent for new buyers in 2026 will be about $968/month. Don't miss your opportunity to enjoy peaceful waterfront living with exceptional value and unbeatable surroundings!

12. 2025-10-29
    historical
13. 2025-10-29
    historical
14. 2025-10-25
    listed $60,000 Active
15. 2025-10-25
    listed $60,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $20,689
• − Mortgage interest: −$2,241
• − Property taxes: −$600
• − Insurance: −$200
• − Repairs & maintenance: −$1,655
• − Management: −$1,655
• − Depreciation: −$1,164
• Taxable income: $13,175
• Est. tax owed @ 24.0%: −$3,162
• After-tax cash flow: $9,865/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: 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 — 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 County · 638,552 people
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 27,565
• Household income: $72,917
• Rent vs Own: 42.5% rent · 57.5% own
• Severe rent burden: 1531.0

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 (79%)
• Race & ethnicity: White 79% Asian 6% Two or more races 6% Black 5% Hispanic / Latino 4%
• Common ancestry: Romanian 13% Lithuanian 4% Slovak 2%
• Foreign-born: 18% · Canada, China, South Korea
• Languages at home: 79% English-only · Other Indo-European 6% Arabic 5% Russian/Polish/Slavic 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: ▼ -279.31%
• Current HPI: 195.6447
• Rent YoY: ▲ 3.40%
• 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

-33.3% since first listed

10 events — show timeline

• 2026-06-11 Pending — REALCOMP
• 2026-06-11 Pending — MiRealSource-MiMLS
• 2026-05-22 Price Changed $40,000 MiRealSource-MiMLS
• 2026-05-22 Price Changed $40,000 REALCOMP
• 2026-05-12 Listed $47,500 MiRealSource-MiMLS
• 2026-05-12 Listed $47,500 REALCOMP
• 2025-10-29 Listing Removed — REALCOMP
• 2025-10-29 Listing Removed — MiRealSource-MiMLS
• 2025-10-25 Listed $60,000 REALCOMP
• 2025-10-25 Listed $60,000 MiRealSource-MiMLS