19601 W 12 Mile Rd #204 · Southfield, MI
Flood risk 1/10 · Minimal
- FEMA flood zone
- X (unshaded)
- Chance of flooding over 30 yrs
- 0.0%
- Est. flood insurance / yr
- $507 – $1,088
Fire risk 1/10 · Minimal
- Est. fire insurance / yr
- $784 – $1,456
Heat risk 3/10 · Minor
- Hot days now (above 98°F)
- 7 days/yr
- Hot days in 30 yrs
- 15 days/yr
Wind risk 2/10 · Minimal
- Chance of severe wind over 30 yrs
- —
Air-quality risk 4/10 · Minor
- Unhealthy air days now
- 3 days/yr
- Unhealthy air days in 30 yrs
- 6 days/yr
Risk factors via First Street. Map © Google.
Why this score? — see what drove the A- 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 +29.8/30.0
- ARV discount +15.0/15.0
- 1% rule +10.0/10.0
- DSCR +10.0/10.0
- Appreciation +5.0/10.0
- Condition / age +3.8/5.0
- Livability +3.6/5.0
- Schools +3.5/10.0
- Rent growth +2.5/5.0
$126,000
19601 W 12 Mile Rd #204 · Southfield, MI 48076 2549
2 bd · 2.0 ba · 2,016 sqft · Condo
· 101 Days on market
Built 1968
$62/sqft
· 24% below area
Est $166k · 24% under
$375/mo HOA · 17% of rent
🖨 Deal sheet (PDF) 📄 Offer letter ✓ Due diligence
Listing remarks MLS
Well maintained condo featuring a spacious open floor plan with large living room and dining room areas, generous bedrooms with walk in closets and 2 full baths. Amenities include common laundry with washer and dryer, private storage, heated pool, carport, walking paths, privately fenced community and beautifully maintained grounds. Conveniently located in the heart of Southfield near shopping, restaurants and major highways. Furnace -2017. Air conditioner- 2020. Perfect location for low maintenance living!!
Key facts
- Open floor plan
- Walk in closets
- Walking paths
Tags
Neighborhood map
Sold within
Property
Rental comp
Retail
Costco
Walmart
Transit
Schools
Stadiums
Fortune 500
· Circle radius: 6.0 mi
Loading POIs…
What this means for you Summary
Snapshot
- This is a 2-bed/2.0-bath condo listed at $126k. Condition is rated good.
Deal economics
- At list price, monthly cash flow is $463 ($6k/yr) — positive.
- The deal already cash-flows at list — no discount required.
- Meets the 1% rule at list price ($2k rent vs $126k).
- Recommended offer: $115k (9.0% below list) — sets the bar for market timing.
- Cap rate 10.7% vs local median 4.9% in Southfield — 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 72/100 on livability (#248 in MI) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: health & safety D, crime F, amenities F.
- Southfield Public School District (urban): math 17% / reading 37% proficiency, ranked #392 of 540 in MI (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
- Zoned schools: Mcintyre Elementary School (math 27% / reading 42%, grade F, #744 of 1,397 statewide, top 57%, 360 students, 59% FRL).
- Market conditions: 1 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 43% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
Forward outlook
- In year one you build about $5k of equity ($871 loan paydown + $4k appreciation (3.0% local appreciation)).
- Oakland County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
- At projected returns (3.0% appreciation + 3.0% rent growth), your $35k cash investment doubles in ~4 years — after that, you're playing with house money.
- By year 8, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.
Negotiation context
- It's been on market 101 days — a 9% lower offer ($115k) is reasonable based on typical stale-listing flexibility.
- 3 sale attempts since 25y 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 $80k; list at $126k implies a 57% gain — meaningful room to come down on a strong offer.
Recommended offer
$114,660
(9.0% below list)
Questions for the listing agent
- It's been on market 101 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
- Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
- What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
- 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?
- Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
- Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
- Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
- Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
- 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.
- 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.
- 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
- 1.72% ✓
- Cap rate
- 10.70%
- Cash-on-cash
- 15.75%
- DSCR
- 1.70
- GRM
- 4.9
CMA / ARV
- ARV (median comp)
- $165,621
- List price
- $126,000
- Delta
- -23.92%
- Verdict
- UNDERPRICED
- Comps
- 20 within 1.0 mi
Show comp detail 12 sales within ~0.75 mi
| Address | Dist | Beds/Ba | Sqft | Sold | Price | $/sf | Match |
|---|---|---|---|---|---|---|---|
| 28411 Eldorado Pl | 0.71mi | 3/2.5 (+1) | 1,983 (-2%) | 2mo | $275,000 | $139 | 56 |
| 29604 Chelmsford Rd | 0.44mi | 3/1.5 (+1) | 2,247 (+12%) | 1mo | $320,000 | $142 | 53 |
| 30701 Ventura St | 1.29mi | 3/2.5 (+1) | 1,951 (-3%) | 0mo | $240,000 | $123 | 52 |
| 30701 Ventura St | 1.29mi | 3/2.5 (+1) | 1,951 (-3%) | 0mo | $240,000 | $123 | 52 |
| 28701 Stuart Ave | 1.21mi | 3/1.0 (+1) | 2,072 (+3%) | 1mo | $189,900 | $92 | 50 |
| 27145 Eldorado Pl | 1.09mi | 3/1.5 (+1) | 1,891 (-6%) | 1mo | $300,000 | $159 | 47 |
| 27786 California Dr | 1.10mi | 2/1.0 | 2,310 (+15%) | 0mo | $248,000 | $107 | 37 |
| 20761 W 13 Mile Rd | 1.16mi | 3/2.5 (+1) | 2,297 (+14%) | 1mo | $448,000 | $195 | 34 |
| 27704 California Dr | 1.15mi | 3/2.0 (+1) | 1,660 (-18%) | 2mo | $300,000 | $181 | 34 |
| 27704 California Dr NW | 0.94mi | 3/2.0 (+1) | 1,660 (-18%) | 2mo | $300,000 | $181 | 34 |
| 18577 San Jose Blvd | 0.77mi | 3/2.5 (+1) | 2,315 (+15%) | 1mo | $388,000 | $168 | 32 |
| 27651 Red Leaf Lane Ln | 1.30mi | 3/1.5 (+1) | 2,340 (+16%) | 1mo | $290,000 | $124 | 32 |
Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.
Projected returns pro-forma
3.0% appreciation · 3.0% rent growth · sell at horizon
5-year hold
- IRR
- 22.4%
- Equity multiple
- 2.27×
- Total profit
- $44,939
- Equity at exit
- $56,655
10-year hold
- IRR
- 23.4%
- Equity multiple
- 4.37×
- Total profit
- $119,021
- Equity at exit
- $87,312
Cash invested: $35,280 (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.
ZIP-level market 48076 2549
- Active inventory
- 1
- Price-to-rent
- 4.9×
Monthly cashflow live
↻
- Estimated rent
- $2,163 high interval (Pro) →
- Mortgage (P&I)
- −$661
- Tax est. 1.5%
- −$158 /mo · $1,890/yr
- Insurance
- −$52
- HOA
- −$375
- Lot rent
- −$0
- Vacancy / Maint / Mgmt
- −$454
- Net cashflow
- $463
Break-even live
Break-even rent
$1,577
Max offer price
$126,000
Occupancy floor
74%
Sensitivity live
| Price | -10% $550 | -5% $507 | +0% $463 | +5% $420 | +10% $376 |
|---|---|---|---|---|---|
| Rent | -10% $292 | -5% $378 | +0% $463 | +5% $549 | +10% $634 |
| Rate | -1.0pp $527 | -0.5pp $495 | base $463 | +0.5pp $430 | +1.0pp $397 |
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
- $31,500
- Closing costs
- $3,780
- Club membership (one-time)
- —
- Reserves months
- —
- Total cash needed
- —
Loan-product check · same deal, 3 products live
Conventional
25% down · 7.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Personal DTI + credit; lowest rate.
DSCR
20% down · 8.5% · 30yr
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
No personal income docs; deal must DSCR.
Hard money
10% down · 12.0% · 12mo
- Cash invested
- —
- Monthly P&I
- —
- Monthly cashflow
- —
- DSCR
- —
- Eligible?
- —
Short-term bridge; refi at stabilization.
Rent comps 7 comps
| Address | Beds | Baths | Sqft | Rent | $/sqft | DOM | Units | Dist |
|---|---|---|---|---|---|---|---|---|
| 18248 W 12 Mile Rd Southfield, MI | 1.0–3.0 | 1.0–2.0 | 1122 | $2,206 | $1.97 | 0d | 17 | 0.68mi |
| 18175 Avilla Blvd Lathrup Village, MI | 3.0 | 1.5 | 1531 | $2,300 | $1.50 | 139d | 1 | 0.72mi |
| 27030 Berkshire Dr Southfield, MI | 3.0 | 4.0 | 1400 | $2,200 | $1.57 | 6d | 1 | 1.02mi |
| 30300 Southfield Rd Southfield, MI | 1.0–2.0 | 1.0–2.0 | 1300 | $2,430 | $1.87 | 0d | 5 | 1.19mi |
| 28051 Stuart Ave Southfield, MI | 3.0 | 1.5 | 1441 | $2,000 | $1.39 | 112d | 1 | 1.26mi |
| 20800 Knob Woods Dr Southfield, MI | 1.0–3.0 | 1.0–2.5 | 1625 | $2,012 | $1.24 | 0d | 9 | 1.35mi |
| 20300 Civic Center Dr Southfield, MI | 4.0 | 1.0–2.0 | 1033 | $1,678 | $1.62 | 54d | 9 | 1.50mi |
Property features AI
Finance
- Other
- Pets allowed
- HOA & community
- Homeowners association with grounds maintenanceMonthly association fee of $375Community pool
Exterior
- Parking
- Direct accessCarportAssigned parkingNo garage
- Utilities
- Public waterPublic sewer
- Home design
- Condominium (residential)One levelGround-level entryBrick construction
- Construction
- Brick exteriorBlock foundation
- Exterior features
- Outdoor in-ground community poolExterior lightingPaved private road with private maintenanceSidewalks
Interior
- Kitchen
- DisposalFree-standing gas ovenFree-standing refrigerator
- Bathrooms
- 2 full bathrooms
- Heating & cooling
- Forced air heating (natural gas)Central air conditioning
- Interior features
- Entrance foyerFinished full basement
- Laundry & utility
- WasherDryerCommon area laundry
HOA detail $375/mo · $4,500/yr condo
- Likely covers
- landscapingpool
- Assessments
- None detected in remarks — confirm with the listing agent.
Listing history 50 events
-
2026-09-17days on market $126,000 Active 101 DOM
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2026-09-16days on market $126,000 Active 100 DOM
-
2026-09-15days on market $126,000 Active 99 DOM
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2026-09-14days on market $126,000 Active 98 DOM
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2026-09-13days on market $126,000 Active 97 DOM
-
2026-09-12days on market $126,000 Active 96 DOM
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2026-09-11days on market $126,000 Active 95 DOM
-
2026-09-05days on market $126,000 Active 89 DOM
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2026-09-04days on market $126,000 Active 88 DOM
-
2026-09-03days on market $126,000 Active 87 DOM
-
2026-08-31days on market $126,000 Active 84 DOM
-
2026-08-30days on market $126,000 Active 83 DOM
-
2026-08-29days on market $126,000 Active 82 DOM
-
2026-08-28days on market $126,000 Active 81 DOM
-
2026-08-27days on market $126,000 Active 80 DOM
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2026-08-26days on market $126,000 Active 79 DOM
-
2026-08-25days on market $126,000 Active 78 DOM
-
2026-08-24days on market $126,000 Active 77 DOM
-
2026-08-23days on market $126,000 Active 76 DOM
-
2026-08-22days on market $126,000 Active 75 DOM
-
2026-08-21days on market $126,000 Active 74 DOM
-
2026-08-20days on market $126,000 Active 73 DOM
-
2026-08-19days on market $126,000 Active 72 DOM
-
2026-08-18days on market $126,000 Active 71 DOM
-
2026-08-17days on market $126,000 Active 70 DOM
-
2026-08-16days on market $126,000 Active 69 DOM
-
2026-08-15days on market $126,000 Active 68 DOM
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2026-08-14days on market $126,000 Active 67 DOM
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2026-08-13days on market $126,000 Active 66 DOM
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2026-08-12days on market $126,000 Active 65 DOM
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2026-08-11days on market $126,000 Active 64 DOM
-
2026-08-10days on market $126,000 Active 63 DOM
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2026-08-09days on market $126,000 Active 62 DOM
-
2026-08-08days on market $126,000 Active 61 DOM
-
2026-08-06days on market $126,000 Active 59 DOM
-
2026-08-05days on market $126,000 Active 58 DOM
-
2026-08-04days on market $126,000 Active 57 DOM
-
2026-08-03days on market $126,000 Active 56 DOM
-
2026-07-31days on market $126,000 Active 53 DOM
-
2026-07-30days on market $126,000 Active 51 DOM
-
2026-07-28days on market $126,000 Active 50 DOM
-
2026-07-26days on market $126,000 Active 48 DOM
-
2026-07-24days on market $126,000 Active 46 DOM
-
2026-07-23$126,000 Active 45 DOM
-
2026-07-23days on market $126,000 Active 45 DOM
-
2026-07-22days on market $126,000 Active 44 DOM
-
2026-07-21days on market $126,000 Active 43 DOM
-
2026-07-20days on market $126,000 Active 42 DOM
-
2026-07-18days on market $126,000 Active 40 DOM
-
2026-07-18days on market $126,000 Active 39 DOM
ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot
backfill from property_details.listing_events for pre-trigger history.
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 ≥98°F today · 15 d/yr by 30 yrs out
- Wind 2/10 Low
- Air quality 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out
Nearby sold comps map
Loading sold comps map…
Walkable amenities ~0.75 mi
Loading nearby amenities…
Taxation est. · year 1
- Rental income
- $25,958
- − Mortgage interest
- −$7,058
- − Property taxes
- −$1,890
- − Insurance
- −$630
- − Repairs & maintenance
- −$2,077
- − Management
- −$2,077
- − HOA
- −$4,500
- − Depreciation
- −$3,665
- Taxable income
- $4,061
combined federal + state — saved on this device
- Est. tax owed @ 24.0%
- −$975
- After-tax cash flow
- $4,583/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.
Condition & rehab AI · 2 photos
75/100
Cosmetic rehab
Est. rehab $10,080–$30,240 screening
A well-maintained and updated condo with good condition and minimal repairs needed. Enhancing the exterior and landscaping would significantly boost its value.
Value-add opportunities
- Both Paint exterior — Enhances curb appeal and resale value ↑
- Both Landscaping — Improves curb appeal and rental value ↑
ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.
F
Composite school gradezoned avg 34/100
Zoned Schools
Elementary
Mcintyre Elementary School
F
MI #744/1,397
Nat'l #23,081/41,679
Schools (NCES district)
- District
- Southfield Public School District
- NCES district ID
- 2632310
- Math proficiency
- 17% ▼ -3.00%
- Reading proficiency
- 37% ▲ 1.00%
- Median HH income
- $51,400
- Composite
- 23.77/100
- National rank
- #7814
- State rank
- #392 of 540 in MI
B
Composite livability gradescore 72/100
Livability — Southfield
- Score
- 72/100
- State rank
- #248
- US rank
- #6175
Category grades
Amenities F
Commute A+
Cost of living A+
Crime F
Employment C
Housing A+
Health & safety D
User ratings D
Schools grade is shown separately in the Schools card above.
Census & demographics
- Census place
- Southfield, MI
Population outlook (Oakland County) Hauer SSP2
- Today (2025)
- 1,335,747 people
- By 2030
- 1,375,100 · +2.9%
- By 2040
- 1,435,385 · +7.5%
- By 2050
- 1,469,250 · +10.0%
- By 2075
- 1,531,946 · +14.7%
- By 2100
- 1,450,485 · +8.6%
Not yet ingested
- Political lean
- —
- Race & ethnicity
- —
- Common origin
- —
- Civics
- —
Market trends
- HPI YoY
- —
- Current HPI
- —
- Rent YoY
- —
- Metro
- —
- 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 |
|
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Price history
+59.5% since first listed4 events — show timeline
- 2026-06-08 Listed $132,000 REALCOMP
- 2026-06-07 Listed $132,000 MiRealSource-MiMLS
- 2002-06-06 Sold (MLS) $80,000 REALCOMP
- 2001-04-26 Listed $82,750 REALCOMP
Cash-flow waterfall
monthlySold comps — $/sqft
last 12 mo · ≤1 miLoading sold comps…