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42025 Mendel Dr
Sterling Heights, MI

42025 Mendel Dr

$315,000
3 bd • 3 ba • 2,050 sf

This analysis was generated by artificial intelligence on 1/22/2025. It is for entertainment purposes only and should not be considered as real estate or investment advice.

List Price

$315,000

Price/Sq.Ft

$154

Year Built

1963

AI Property Analysis

A comprehensive evaluation of this property's features, market position, and investment potential.

The Good

This property offers exceptional value with a complete remodel in 2024, priced at $315,000 or $153.66/sqft, which is approximately 20% below the average $192/sqft for similar homes in Sterling Heights. The 2,050 sqft layout is 15% larger than the local average of 1,780 sqft for 3-bedroom homes. Recent upgrades include a brand-new kitchen with stainless steel appliances, modern vinyl flooring, updated bathrooms, and a newer water heater, collectively adding an estimated $40,000-$50,000 in value. The finished basement with an additional bedroom increases the functional living space to approximately 2,500 sqft. Located in the highly-rated Utica School District, with Henry Ford II High School (8/10 rating) just 0.5 miles away, it offers excellent educational opportunities. The property's appreciation from $115,000 in 2015 to the current $315,000 represents a 174% increase over 10 years, outperforming the local market average of 112% for the same period.

The Bad

While the home has been extensively remodeled, its original construction in 1963 may still present some long-term maintenance concerns. The property has been on the market for 35 days, slightly above the area average of 28 days, suggesting potential buyer hesitation. The current price of $315,000 represents a 3.1% decrease from its initial listing price of $325,000, indicating possible overpricing at launch. The property's rental history at $2,100/month in 2022-2023 suggests a potential gross rental yield of only 8% annually, which is below the 10-12% often sought by investors in this market.

The Ugly

The property's location in Sterling Heights exposes it to moderate climate risks, particularly in air quality (3/10) and heat (3/10), which could impact long-term livability and potentially increase cooling costs. The home's age (62 years) suggests that despite recent renovations, major systems like plumbing and electrical may need attention in the coming years, with potential costs of $15,000-$25,000. The rapid appreciation from $115,000 in 2015 to $315,000 today, while positive for sellers, raises concerns about affordability and potential market corrections. The local median income of $79,602 may strain affordability for many buyers, as the home price is nearly 4 times the median income, above the recommended 3:1 ratio.

Who is this property for?

These details are presented solely for entertainment purposes and are not meant to steer or limit any prospective buyer.

Best For

This property is ideal for growing families with a household income of $105,000+ (based on a 28% front-end DTI ratio). The 3 bedrooms, finished basement, and proximity to well-rated schools make it perfect for families with school-age children. First-time homebuyers looking for a move-in ready property with recent upgrades will find value in the comprehensive 2024 remodel. The large, fully fenced yard appeals to pet owners and those who enjoy outdoor activities. Professionals working in the Metro Detroit area will appreciate the convenient location and potential for remote work in the finished basement space.

Not For

This property is not suitable for investors seeking high rental yields, as the potential 8% gross yield is below market expectations. Buyers looking for historical charm or period features may be disappointed by the modern renovations. The property may not suit those with limited mobility due to its multi-level layout. Households with more than 4-5 members might find the space constraining despite the additional basement bedroom. Buyers seeking ultra-low maintenance or new construction should look elsewhere, as the home's age may still require attention to some systems in the coming years.
Demographics
Area Median Income

$79,602

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Risk Assessment

Climate Risks

airMODERATE

3 bad air quality days per year

heatMODERATE

7 extreme heat days per year

98th percentile: 96°F

fireMINOR

Insurance: Recommended

floodMINIMAL

FEMA Zone: X_UNSHADED

Insurance: Optional

windMINIMAL

Insurance: Optional

Risk Analysis

While flood risk is minimal (1/10), the moderate heat risk (3/10) may lead to increased cooling costs and potential discomfort during peak summer months. The rapid appreciation of 174% over 10 years outpaces income growth, raising concerns about a potential market correction. The home's age may necessitate updates to plumbing and electrical systems within 5-10 years, estimated at $15,000-$25,000. The local market's days-on-market average of 28 days suggests a slowing market, which could impact future appreciation. The moderate air quality risk (3/10) with 3 bad air days per year may be a concern for residents with respiratory issues. The property's price point at 4x the local median income could limit the buyer pool and future resale potential.
Insurance
Annual Cost

$1,134

$95 per month

Financials

Monthly Costs

Price History

Property Taxes

$6,722
2024 Tax Assessment
108.8%from previous year
Assessed Value$131,800
Tax Rate5.10%

Location & Comparables

Subject Property
Comparable Sales
View on Zillow

Stats in the Area

Average Price

$332,200

5.5% above list price

Median Price

$415,000

Based on 6 recent sales

Price per Sq.Ft

$157

Comparable Properties

14157 Lakeshore, Sterling Heights, MI 48313
Price: $417,500
Sq.Ft: 2,395
Beds/Baths: 4/3
$/Sq.Ft:
$17413.4%
Sale Date: 12/3/2024
41101 Primrose, Sterling Heights, MI 48313
Price: $380,000
Sq.Ft: 1,680
Beds/Baths: 3/3
$/Sq.Ft:
$22647.2%
Sale Date: 11/26/2024
12800 Daily, Sterling Heights, MI 48313
Price: $2,700
Sq.Ft: 2,000
Beds/Baths: 4/3
$/Sq.Ft:
$199.1%
Sale Date: 9/17/2024
12850 Bender Drive, Sterling Heights, MI 48313
Price: $330,000
Sq.Ft: 2,012
Beds/Baths: 4/3.1
$/Sq.Ft:
$1646.7%
Sale Date: 9/25/2024
14013 Lakeshore, Sterling Heights, MI 48313
Price: $415,000
Sq.Ft: 2,354
Beds/Baths: 4/3
$/Sq.Ft:
$17614.7%
Sale Date: 10/3/2024
14285 Grandview, Sterling Heights, MI 48313
Price: $448,000
Sq.Ft: 2,233
Beds/Baths: 3/3
$/Sq.Ft:
$20130.6%
Sale Date: 9/6/2024

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