Score
0Sterling Heights, MI
42025 Mendel Dr
315K
3 beds
3 baths
2,050 sqft
3 bd • 3 ba • 2,050 sf
This analysis was generated 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
Property History
Price History
Ownership Timeline
$265,000Financed
May 4, 2022Michael HudzikYousif Ballo
Warranty Deed
Non-Residential Arm's Length Transactions
$119,500Cash Purchase
Sep 11, 2015Stuart A Gold, Estate Of Carol E JoyceMichael Hudzik
Quit Claim Deed
Non-Arm's Length Transactions
$0Cash Purchase
Feb 28, 2005Michael J JoyceCarol E Joyce
Intrafamily Transfer
Non-Arm's Length Transactions
Property Taxes
$6,722
2024 Tax Assessment
108.8%from previous year
Assessed Value$131,800
Tax Rate5.10%
Sunlight Analysis
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Sunlight Analysis
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Schools
Nearby school quality by education level
Elementary
4.0/10
AverageMiddle
5.0/10
AverageHigh
8.0/10
ExcellentFinancials
Monthly Costs
Market Rent (3 bed)
Get a detailed estimate on Zillow$860
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$315,000
Price/sqft
$154
Layout
3 bd•3 ba
Days on market
35 daysat time of analysis
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$332,200
5.2%
Your price is 5.2% below average
Median Price
$415,000
24.1%
Based on 6 recent sales
Price per Sq.Ft
$157
2.1%
Your price is 2.1% below average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 14157 Lakeshore, Sterling Heights, MI 48313 | $417,500 | 2,395 | 4 | 3 | $17413.4% | 12/3/2024 |
| 41101 Primrose, Sterling Heights, MI 48313 | $380,000 | 1,680 | 3 | 3 | $22647.2% | 11/26/2024 |
| 12800 Daily, Sterling Heights, MI 48313 | $2,700 | 2,000 | 4 | 3 | $199.1% | 9/17/2024 |
| 12850 Bender Drive, Sterling Heights, MI 48313 | $330,000 | 2,012 | 4 | 3.1 | $1646.7% | 9/25/2024 |
| 14013 Lakeshore, Sterling Heights, MI 48313 | $415,000 | 2,354 | 4 | 3 | $17614.7% | 10/3/2024 |
| 14285 Grandview, Sterling Heights, MI 48313 | $448,000 | 2,233 | 3 | 3 | $20130.6% | 9/6/2024 |
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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