525 Fairbrook St #207 · Northville, MI 48167

$135,000

1 bd · 1.0 ba · 723 sqft · SingleFamily public records · 18 Days on market

Built 1965 824 sqft lot $187/sqft · 13% below area Est $155k · 13% under $393/mo HOA · 19% of rent

---

Why this score? — see what drove the B+ 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 +28.4/30.0
• ARV discount +13.3/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Schools +6.6/10.0
• Livability +4.4/5.0
• Rent growth +3.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the perfect blend of modern style and walkable convenience in this beautifully updated 1-bedroom, 1-bathroom condo located just steps from the heart of Downtown Northville. This second-floor unit is move-in ready and filled with natural light, featuring an open-concept living and dining area perfect for entertaining. The interior has been thoughtfully renovated with sleek hardwood floors throughout, a modernized kitchen, and a crisp, updated bathroom. Residents enjoy a low-maintenance lifestyle with on-site laundry and a dedicated extra storage unit in the basement. Best of all, the monthly HOA fee covers both heat and water, offering predictable costs and total peace of mind. Whether you are looking for a sophisticated primary residence or a turn-key investment with strong rental potential, this property delivers. Experience Northville's premier shops, dining, and seasonal markets right at your doorstep. Immediate occupancy is available--schedule your tour todayLaundry and Storage area are in the building to the south of the condo. Enter through the 213/113 door and take the stairs down to the basement.

Key facts

• $393 HOA
• Built 1965
• Listed 18 days

Property features AI

Finance

• HOA & community: Monthly association fee of $393; Association covers water, sewer, heat, trash, snow removal, and lawn/yard care; Pets allowed; Storage available

Exterior

• Utilities: Cable connected; High-speed internet
• Home design: Colonial-style condominium; Built in 1965
• Construction: Brick construction; Shingle roof; Slab basement
• Exterior features: Sidewalk; Wooded lot; Paved road access; Public water

Interior

• Kitchen: Oven; Refrigerator
• Bathrooms: One full bathroom
• Heating & cooling: Baseboard heating; Wall-mounted cooling unit(s)
• Interior features: Five total rooms; Oven; Refrigerator

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $439 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.2% vs local median 1.8% in Northville — 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 88/100 on livability (#13 in MI, #205 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, amenities A+; Watch: commute F.
• Northville Public Schools (suburban): math 68% / reading 75% proficiency, ranked #4 of 540 in MI (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 4% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+4.0%/yr); 221 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $933 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 4.0% rent growth), your $38k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 17y ago 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 $19k; list at $135k implies a 614% gain — meaningful room to come down on a strong offer.

Recommended offer $132,975 (1.5% below list)

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. 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.
6. 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.
7. 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: 1.57% ✓
• Cap rate: 10.19%
• Cash-on-cash: 13.93%
• DSCR: 1.62
• GRM: 5.3

CMA / ARV

• ARV (median comp): $155,000
• List price: $135,000
• Delta: -12.90%
• Verdict: UNDERPRICED
• Comps: 17 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.97% rent growth · sell at horizon

5-year hold

• IRR: 5.6%
• Equity multiple: 1.22×
• Total profit: $8,372
• Equity at exit: $20,129

10-year hold

• IRR: 16.2%
• Equity multiple: 2.40×
• Total profit: $52,874
• Equity at exit: $11,672

Cash invested: $37,800 (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 48167

• Rents YoY: 4.0%
• Active inventory: 221
• Price-to-rent: 5.3×

Monthly cashflow live

• Estimated rent: $2,115 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$75 /mo · $894/yr
• Insurance: −$56
• HOA: −$393
• Vacancy / Maint / Mgmt: −$444
• Net cashflow: $439

Break-even live

Break-even rent $1,559

Max offer price $135,000

Occupancy floor 74%

Sensitivity live

Price	-10% $515	-5% $477	+0% $439	+5% $401	+10% $362
Rent	-10% $272	-5% $355	+0% $439	+5% $522	+10% $606
Rate	-1.0pp $507	-0.5pp $473	base $439	+0.5pp $404	+1.0pp $368

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
150 Maincentre Northville, MI	1.0–2.0	1.0–2.0	900	$1,775	$1.97	0d	5	0.45mi
104 W Main St Unit 304 Northville, MI	1.0	1.0	700	$3,500	$5.00	45d	1	0.49mi
280 Hutton St Northville, MI	2.0	1.0	700	$1,700	$2.43	0d	1	0.75mi

HOA detail

• Monthly dues: $393 · $4,716/yr
• Likely covers: water

Listing history 10 events

1. 2026-05-07
   historical Active Under Contract 1130-char remark

   Show marketing remark (986 chars)

   Discover the perfect blend of modern style and walkable convenience in this beautifully updated 1-bedroom, 1-bathroom condo located just steps from the heart of Downtown Northville. This second-floor unit is move-in ready and filled with natural light, featuring an open-concept living and dining area perfect for entertaining. The interior has been thoughtfully renovated with sleek hardwood floors throughout, a modernized kitchen, and a crisp, updated bathroom. Residents enjoy a low-maintenance lifestyle with on-site laundry and a dedicated extra storage unit in the basement. Best of all, the monthly HOA fee covers both heat and water, offering predictable costs and total peace of mind. Whether you are looking for a sophisticated primary residence or a turn-key investment with strong rental potential, this property delivers. Experience Northville's premier shops, dining, and seasonal markets right at your doorstep. Immediate occupancy is available--schedule your tour today

2. 2026-05-07
   historical Keep Showing-Contgcy Appl 986-char remark

   Show marketing remark (986 chars)

   Discover the perfect blend of modern style and walkable convenience in this beautifully updated 1-bedroom, 1-bathroom condo located just steps from the heart of Downtown Northville. This second-floor unit is move-in ready and filled with natural light, featuring an open-concept living and dining area perfect for entertaining. The interior has been thoughtfully renovated with sleek hardwood floors throughout, a modernized kitchen, and a crisp, updated bathroom. Residents enjoy a low-maintenance lifestyle with on-site laundry and a dedicated extra storage unit in the basement. Best of all, the monthly HOA fee covers both heat and water, offering predictable costs and total peace of mind. Whether you are looking for a sophisticated primary residence or a turn-key investment with strong rental potential, this property delivers. Experience Northville's premier shops, dining, and seasonal markets right at your doorstep. Immediate occupancy is available--schedule your tour today

3. 2026-05-07
   historical Active - Contingent

   Show marketing remark (986 chars)

   Discover the perfect blend of modern style and walkable convenience in this beautifully updated 1-bedroom, 1-bathroom condo located just steps from the heart of Downtown Northville. This second-floor unit is move-in ready and filled with natural light, featuring an open-concept living and dining area perfect for entertaining. The interior has been thoughtfully renovated with sleek hardwood floors throughout, a modernized kitchen, and a crisp, updated bathroom. Residents enjoy a low-maintenance lifestyle with on-site laundry and a dedicated extra storage unit in the basement. Best of all, the monthly HOA fee covers both heat and water, offering predictable costs and total peace of mind. Whether you are looking for a sophisticated primary residence or a turn-key investment with strong rental potential, this property delivers. Experience Northville's premier shops, dining, and seasonal markets right at your doorstep. Immediate occupancy is available--schedule your tour today

4. 2026-05-01
   listed $135,000 Active 1130-char remark

   Show marketing remark (986 chars)

   Discover the perfect blend of modern style and walkable convenience in this beautifully updated 1-bedroom, 1-bathroom condo located just steps from the heart of Downtown Northville. This second-floor unit is move-in ready and filled with natural light, featuring an open-concept living and dining area perfect for entertaining. The interior has been thoughtfully renovated with sleek hardwood floors throughout, a modernized kitchen, and a crisp, updated bathroom. Residents enjoy a low-maintenance lifestyle with on-site laundry and a dedicated extra storage unit in the basement. Best of all, the monthly HOA fee covers both heat and water, offering predictable costs and total peace of mind. Whether you are looking for a sophisticated primary residence or a turn-key investment with strong rental potential, this property delivers. Experience Northville's premier shops, dining, and seasonal markets right at your doorstep. Immediate occupancy is available--schedule your tour today

5. 2026-05-01
   listed $135,000 Active

   Show marketing remark (986 chars)

   Discover the perfect blend of modern style and walkable convenience in this beautifully updated 1-bedroom, 1-bathroom condo located just steps from the heart of Downtown Northville. This second-floor unit is move-in ready and filled with natural light, featuring an open-concept living and dining area perfect for entertaining. The interior has been thoughtfully renovated with sleek hardwood floors throughout, a modernized kitchen, and a crisp, updated bathroom. Residents enjoy a low-maintenance lifestyle with on-site laundry and a dedicated extra storage unit in the basement. Best of all, the monthly HOA fee covers both heat and water, offering predictable costs and total peace of mind. Whether you are looking for a sophisticated primary residence or a turn-key investment with strong rental potential, this property delivers. Experience Northville's premier shops, dining, and seasonal markets right at your doorstep. Immediate occupancy is available--schedule your tour today

6. 2026-05-01
   listed $135,000 Active 986-char remark

   Show marketing remark (986 chars)

   Discover the perfect blend of modern style and walkable convenience in this beautifully updated 1-bedroom, 1-bathroom condo located just steps from the heart of Downtown Northville. This second-floor unit is move-in ready and filled with natural light, featuring an open-concept living and dining area perfect for entertaining. The interior has been thoughtfully renovated with sleek hardwood floors throughout, a modernized kitchen, and a crisp, updated bathroom. Residents enjoy a low-maintenance lifestyle with on-site laundry and a dedicated extra storage unit in the basement. Best of all, the monthly HOA fee covers both heat and water, offering predictable costs and total peace of mind. Whether you are looking for a sophisticated primary residence or a turn-key investment with strong rental potential, this property delivers. Experience Northville's premier shops, dining, and seasonal markets right at your doorstep. Immediate occupancy is available--schedule your tour today

7. 2026-04-28
   historical $135,000 986-char remark

   Show marketing remark (986 chars)

   Discover the perfect blend of modern style and walkable convenience in this beautifully updated 1-bedroom, 1-bathroom condo located just steps from the heart of Downtown Northville. This second-floor unit is move-in ready and filled with natural light, featuring an open-concept living and dining area perfect for entertaining. The interior has been thoughtfully renovated with sleek hardwood floors throughout, a modernized kitchen, and a crisp, updated bathroom. Residents enjoy a low-maintenance lifestyle with on-site laundry and a dedicated extra storage unit in the basement. Best of all, the monthly HOA fee covers both heat and water, offering predictable costs and total peace of mind. Whether you are looking for a sophisticated primary residence or a turn-key investment with strong rental potential, this property delivers. Experience Northville's premier shops, dining, and seasonal markets right at your doorstep. Immediate occupancy is available--schedule your tour today

8. 2026-04-28
   historical $135,000

   Show marketing remark (986 chars)

   Discover the perfect blend of modern style and walkable convenience in this beautifully updated 1-bedroom, 1-bathroom condo located just steps from the heart of Downtown Northville. This second-floor unit is move-in ready and filled with natural light, featuring an open-concept living and dining area perfect for entertaining. The interior has been thoughtfully renovated with sleek hardwood floors throughout, a modernized kitchen, and a crisp, updated bathroom. Residents enjoy a low-maintenance lifestyle with on-site laundry and a dedicated extra storage unit in the basement. Best of all, the monthly HOA fee covers both heat and water, offering predictable costs and total peace of mind. Whether you are looking for a sophisticated primary residence or a turn-key investment with strong rental potential, this property delivers. Experience Northville's premier shops, dining, and seasonal markets right at your doorstep. Immediate occupancy is available--schedule your tour today

9. 2009-04-28
   soldstatus $18,900
10. 2009-01-23
    listed $18,900

ⓘ 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: $894 · $75/mo
• Projected year-2 tax: $1,487 · $124/mo
• Expected delta: +$592/yr (+$49/mo · 66.3%)

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

Taxation est. · year 1

• Rental income: $25,375
• − Mortgage interest: −$7,562
• − Property taxes: −$894
• − Insurance: −$675
• − Repairs & maintenance: −$2,030
• − Management: −$2,030
• − HOA: −$4,716
• − Depreciation: −$3,927
• Taxable income: $3,541
• Est. tax owed @ 24.0%: −$850
• After-tax cash flow: $4,416/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: Northville Public Schools
• NCES district ID: 2625980
• Math proficiency: 68% ▼ -5.00%
• Reading proficiency: 75% ▼ -4.00%
• Median HH income: $108,824
• Composite: 66.21/100
• National rank: #431
• State rank: #4 of 540 in MI

Livability — Northville

• Score: 88/100
• State rank: #13
• US rank: #205

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Northville, MI
• County: Wayne County · 1,562,939 people
• City population: 24,713
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 24,713
• Household income: $124,630
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 441.0

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 1,675,273 people
• By 2030: 1,620,300 · -3.3%
• By 2040: 1,502,341 · -10.3%
• By 2050: 1,384,039 · -17.4%
• By 2075: 1,124,592 · -32.9%
• By 2100: 881,193 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Asian 10% Two or more races 5% Hispanic / Latino 4% Black 4%
• Common ancestry: Romanian 11% Lithuanian 4% Slovak 3%
• Foreign-born: 15% · Canada, China, South Korea
• Languages at home: 85% English-only · Other Indo-European 4% Other Asian/Pacific 3% Chinese 2%

Political lean MEDSL · Wayne

• 2024 margin: Strong D (+29.0) · D 62.7% · R 33.7% · Other 3.6%
• 2008→2024 swing: -20.5pp toward R · 2008: 49.5pp · 2024: 29.0pp
• All cycles: 2024: D+29.0 2020: D+38.1 2016: D+37.3 2012: D+46.9 2008: D+49.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -275.65%
• Current HPI: 176.171
• Rent YoY: ▲ 3.97%
• 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

+614.3% since first listed

13 events — show timeline

• 2026-05-19 Pending — REALCOMP
• 2026-05-19 Pending — MiRealSource-MiMLS
• 2026-05-19 Pending — SW Michigan MLS
• 2026-05-07 Contingent — REALCOMP
• 2026-05-07 Contingent — MiRealSource-MiMLS
• 2026-05-07 Contingent — SW Michigan MLS
• 2026-05-01 Listed $135,000 REALCOMP
• 2026-05-01 Listed $135,000 SW Michigan MLS
• 2026-05-01 Listed $135,000 MiRealSource-MiMLS
• 2026-04-28 Coming Soon $135,000 MiRealSource-MiMLS
• 2026-04-28 Coming Soon $135,000 SW Michigan MLS
• 2009-04-28 Sold (MLS) $18,900 REALCOMP
• 2009-01-23 Listed $18,900 REALCOMP

Property tax history

+2.7%/yr

Latest (2025): $894 · +2.1% YoY. Source: county tax records.