5698 Bingham Dr · Troy, MI 48085

$425,000

3 bd · 1.5 ba · 1,899 sqft · SingleFamily public records · 23 Days on market

Built 1976 8,276 sqft lot Est $416k · at est. $2/mo HOA

---

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 +10.8/30.0
• ARV discount +6.5/15.0
• Schools +6.5/10.0
• Livability +3.9/5.0
• DSCR +3.1/10.0
• 1% rule +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Professional Photos Coming Soon. Don't miss this beautifully updated brick Ranch offering nearly 1900 Sq. Ft. of living space. This home features 3 Bedrooms and 1.5 Bath along with a spacious Family Room with a cozy fireplace-perfect foe everyday living and entertaining. Enjoy a Remodeled Kitchen and updated Baths, plus new carpet and flooring , and updated light fixtures. The covered front porch adds charm, while the backyard patio provides a great space to relax. Additional features include a full Basement, 2 car garage and sidewalks throughout the neighborhood. Conveniently located near expressways, schools, shopping and restaurants. BATVAI. New SS Appliances will be included. Hardware to be installed on Kitchen cabinets.

Key facts

• 8,276 sq ft lot
• 2 garage spots
• Built 1976

Property features AI

Finance

• Other: Pets allowed
• HOA & community: Homeowners association with $25 annual fee; Community sidewalks; Subdivision: STONERIDGENO 2

Exterior

• Parking: Attached garage with direct access; 2-car garage; Garage door opener
• Utilities: Public water; Public sewer; Underground utilities
• Home design: Single-family residence; One level; Ground-level entry; Brick construction
• Construction: Brick exterior; Asphalt roof; Unfinished basement (sump pump)
• Exterior features: Outdoor lighting; Covered patio and porch; Patio; Porch; Level lot; Paved road access; Lot dimensions approximately 70 x 120 (0.19 acres)

Interior

• Kitchen: Garbage disposal
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Gas water heater; Garbage disposal; Fireplace in the great room; Unfinished basement with sump pump; Total of 8 rooms
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $425k.

Deal economics

• At list price, monthly cash flow is $-193 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $391k (8.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $326k (23.3% below list).
• Recommended offer: $326k (23.3% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 3.6% in Troy — 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 78/100 on livability (#113 in MI, #2,684 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: health & safety D+, amenities F, commute F.
• Troy School District (urban): math 68% / reading 75% proficiency, ranked #8 of 540 in MI (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Wass Elementary School (math 62% / reading 67%, grade B, #132 of 1,397 statewide, top 11%, 433 students, 14% FRL); Larson Middle School (math 68% / reading 77%, grade A, #18 of 493 statewide, top 4%, 762 students, 15% FRL); Athens High School (math 60% / reading 79%, grade B, #36 of 713 statewide, top 5%, 1,545 students, 20% FRL).
• Market conditions: 120 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 7d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $13k of value loss. Plan a longer hold.
• Oakland County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($419k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $325,952 (23.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 0.77% ✗
• Cap rate: 5.75%
• Cash-on-cash: -1.94%
• DSCR: 0.91
• GRM: 10.9

CMA / ARV

• ARV (on-the-fly): $415,881
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5791 Larkins Dr	0.10mi	3/1.5	1,777 (-6%)	3mo	$345,000	$194	82
2584 Coral Dr	0.18mi	3/2.5	2,019 (+6%)	2mo	$456,000	$226	75
2669 Willard Dr	0.18mi	4/1.5 (+1)	1,930 (+2%)	11mo	$420,000	$218	74
5091 Blair Dr	0.52mi	3/1.5	1,921 (+1%)	3mo	$425,000	$221	71
2684 Coral Dr	0.14mi	4/2.0 (+1)	2,007 (+6%)	7mo	$409,900	$204	71
5718 Marble Dr	0.21mi	3/1.5	1,732 (-9%)	8mo	$380,000	$219	69
2787 Emmons Ave	0.34mi	3/2.0	1,764 (-7%)	6mo	$312,000	$177	66
5443 English Dr	0.19mi	4/2.5 (+1)	2,122 (+12%)	0mo	$484,000	$228	62
5957 Slate Dr E	0.45mi	4/2.0 (+1)	1,832 (-4%)	6mo	$405,000	$221	61
2923 Quartz Dr	0.38mi	4/2.0 (+1)	1,832 (-4%)	14mo	$335,000	$183	58
2775 E Square Lake Rd	0.47mi	4/2.0 (+1)	2,064 (+9%)	2mo	$471,000	$228	55
5068 Fedora Dr	0.63mi	4/3.0 (+1)	1,988 (+5%)	15mo	$405,000	$204	39

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: -19.5%
• Equity multiple: 0.32×
• Total profit: $-81,202
• Equity at exit: $63,369

10-year hold

• IRR: -12.3%
• Equity multiple: 0.27×
• Total profit: $-86,744
• Equity at exit: $36,746

Cash invested: $119,000 (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 48085

• Active inventory: 120
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $3,260 high
• Mortgage (P&I): −$2,229
• Tax from tax record: −$360 /mo · $4,320/yr
• Insurance: −$177
• HOA: −$2
• Vacancy / Maint / Mgmt: −$684
• Net cashflow: $-193

Break-even live

Break-even rent $3,504

Max offer price $390,941

Occupancy floor —

Sensitivity live

Price	-10% $48	-5% $-73	+0% $-193	+5% $-313	+10% $-433
Rent	-10% $-450	-5% $-322	+0% $-193	+5% $-64	+10% $65
Rate	-1.0pp $21	-0.5pp $-85	base $-193	+0.5pp $-303	+1.0pp $-415

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: $106,250
• Closing costs: $12,750
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5363 English Dr Troy, MI	4.0	2.5	2515	$3,300	$1.31	0d	1	0.28mi
2925 Square Lake Ct Unit 1 Troy, MI	3.0	2.5	1650	$2,700	$1.64	0d	1	0.50mi
5944 Willow Grv Troy, MI	3.0	2.0	1850	$4,250	$2.30	45d	1	1.09mi
1880 Welling Dr Troy, MI	4.0	2.5	2421	$3,000	$1.24	6d	1	1.24mi
5054 Carnaby Dr Troy, MI	3.0	2.5	2228	$2,600	$1.17	5d	1	1.32mi
2219 Belmont Dr Sterling Heights, MI	3.0	1.5	2560	$2,450	$0.96	45d	1	1.46mi

HOA detail

• Monthly dues: $2 · $24/yr

Listing history 6 events

1. 2026-05-07
   status Pending 734-char remark

   Show marketing remark (734 chars)

   Professional Photos Coming Soon. Don't miss this beautifully updated brick Ranch offering nearly 1900 Sq. Ft. of living space. This home features 3 Bedrooms and 1.5 Bath along with a spacious Family Room with a cozy fireplace-perfect foe everyday living and entertaining. Enjoy a Remodeled Kitchen and updated Baths, plus new carpet and flooring , and updated light fixtures. The covered front porch adds charm, while the backyard patio provides a great space to relax. Additional features include a full Basement, 2 car garage and sidewalks throughout the neighborhood. Conveniently located near expressways, schools, shopping and restaurants. BATVAI. New SS Appliances will be included. Hardware to be installed on Kitchen cabinets.

2. 2026-05-07
   status Pending

   Show marketing remark (734 chars)

   Professional Photos Coming Soon. Don't miss this beautifully updated brick Ranch offering nearly 1900 Sq. Ft. of living space. This home features 3 Bedrooms and 1.5 Bath along with a spacious Family Room with a cozy fireplace-perfect foe everyday living and entertaining. Enjoy a Remodeled Kitchen and updated Baths, plus new carpet and flooring , and updated light fixtures. The covered front porch adds charm, while the backyard patio provides a great space to relax. Additional features include a full Basement, 2 car garage and sidewalks throughout the neighborhood. Conveniently located near expressways, schools, shopping and restaurants. BATVAI. New SS Appliances will be included. Hardware to be installed on Kitchen cabinets.

3. 2026-04-26
   historical Accepting Backup Offers 734-char remark

   Show marketing remark (734 chars)

   Professional Photos Coming Soon. Don't miss this beautifully updated brick Ranch offering nearly 1900 Sq. Ft. of living space. This home features 3 Bedrooms and 1.5 Bath along with a spacious Family Room with a cozy fireplace-perfect foe everyday living and entertaining. Enjoy a Remodeled Kitchen and updated Baths, plus new carpet and flooring , and updated light fixtures. The covered front porch adds charm, while the backyard patio provides a great space to relax. Additional features include a full Basement, 2 car garage and sidewalks throughout the neighborhood. Conveniently located near expressways, schools, shopping and restaurants. BATVAI. New SS Appliances will be included. Hardware to be installed on Kitchen cabinets.

4. 2026-04-26
   historical Active Under Contract

   Show marketing remark (734 chars)

   Professional Photos Coming Soon. Don't miss this beautifully updated brick Ranch offering nearly 1900 Sq. Ft. of living space. This home features 3 Bedrooms and 1.5 Bath along with a spacious Family Room with a cozy fireplace-perfect foe everyday living and entertaining. Enjoy a Remodeled Kitchen and updated Baths, plus new carpet and flooring , and updated light fixtures. The covered front porch adds charm, while the backyard patio provides a great space to relax. Additional features include a full Basement, 2 car garage and sidewalks throughout the neighborhood. Conveniently located near expressways, schools, shopping and restaurants. BATVAI. New SS Appliances will be included. Hardware to be installed on Kitchen cabinets.

5. 2026-04-14
   listed $425,000 Active 734-char remark

   Show marketing remark (734 chars)

   Professional Photos Coming Soon. Don't miss this beautifully updated brick Ranch offering nearly 1900 Sq. Ft. of living space. This home features 3 Bedrooms and 1.5 Bath along with a spacious Family Room with a cozy fireplace-perfect foe everyday living and entertaining. Enjoy a Remodeled Kitchen and updated Baths, plus new carpet and flooring , and updated light fixtures. The covered front porch adds charm, while the backyard patio provides a great space to relax. Additional features include a full Basement, 2 car garage and sidewalks throughout the neighborhood. Conveniently located near expressways, schools, shopping and restaurants. BATVAI. New SS Appliances will be included. Hardware to be installed on Kitchen cabinets.

6. 2026-04-14
   listed $425,000 Active

   Show marketing remark (734 chars)

   Professional Photos Coming Soon. Don't miss this beautifully updated brick Ranch offering nearly 1900 Sq. Ft. of living space. This home features 3 Bedrooms and 1.5 Bath along with a spacious Family Room with a cozy fireplace-perfect foe everyday living and entertaining. Enjoy a Remodeled Kitchen and updated Baths, plus new carpet and flooring , and updated light fixtures. The covered front porch adds charm, while the backyard patio provides a great space to relax. Additional features include a full Basement, 2 car garage and sidewalks throughout the neighborhood. Conveniently located near expressways, schools, shopping and restaurants. BATVAI. New SS Appliances will be included. Hardware to be installed on Kitchen cabinets.

ⓘ 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: $4,320 · $360/mo
• Projected year-2 tax: $5,432 · $453/mo
• Expected delta: +$1,113/yr (+$93/mo · 25.8%)

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

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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $39,114
• − Mortgage interest: −$23,807
• − Property taxes: −$4,320
• − Insurance: −$2,125
• − Repairs & maintenance: −$3,129
• − Management: −$3,129
• − HOA: −$24
• − Depreciation: −$12,364
• Taxable loss: −$9,783
• Est. tax savings @ 24.0%: +$2,348
• After-tax cash flow: $34/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: Troy School District
• NCES district ID: 2634260
• Math proficiency: 68% ▼ -3.00%
• Reading proficiency: 75% ▼ -2.00%
• Median HH income: $90,920
• Composite: 64.5/100
• National rank: #539
• State rank: #8 of 540 in MI

Livability — Troy

• Score: 78/100
• State rank: #113
• US rank: #2684

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Troy, MI
• County: Oakland County · 1,009,092 people
• City population: 87,898
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 27,231
• Household income: $146,390
• Rent vs Own: 8.5% rent · 91.5% own
• Severe rent burden: 39.0

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%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (68%)
• Race & ethnicity: White 68% Asian 21% Two or more races 5% Black 4% Hispanic / Latino 2%
• Common ancestry: Romanian 11% Italian 3% Slovak 2%
• Foreign-born: 26% · Canada, China, South Korea
• Languages at home: 72% English-only · Other Indo-European 9% Chinese 4% Other Asian/Pacific 4%

Political lean MEDSL · Oakland

• 2024 margin: D (+10.6) · D 54.4% · R 43.8% · Other 1.9%
• 2008→2024 swing: -3.9pp toward R · 2008: 14.5pp · 2024: 10.6pp
• All cycles: 2024: D+10.6 2020: D+14.1 2016: D+8.1 2012: D+8.1 2008: D+14.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -326.83%
• Current HPI: 184.4445
• Rent YoY: —
• 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

+0.0% since first listed

6 events — show timeline

• 2026-05-07 Pending — MiRealSource-MiMLS
• 2026-05-07 Pending — REALCOMP
• 2026-04-26 Contingent — MiRealSource-MiMLS
• 2026-04-26 Contingent — REALCOMP
• 2026-04-14 Listed $425,000 REALCOMP
• 2026-04-14 Listed $425,000 MiRealSource-MiMLS

Property tax history

+2.1%/yr

Latest (2025): $4,320 · +2.3% YoY. Source: county tax records.