17676 Addison St · Southfield, MI 48075

$208,000

3 bd · 1.5 ba · 1,525 sqft · SingleFamily public records · 31 Days on market

Built 1976 5,663 sqft lot $136/sqft · 19% below area Est $207k · at est.

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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 +12.2/30.0
• ARV discount +7.4/15.0
• 1% rule +4.6/10.0
• Rent growth +4.5/5.0
• DSCR +3.6/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Very Cozy Newly Renovated Ranch. Super Convenient Location. Close To Major Hwy , Shopping And Entertainments. New Kitchen, New Floors, New Windows, New Paint, Stainless Steel Appliances. New Sewer Pipe . Turn Key Home. Must Come And See !!!

Key facts

• 5,663 sq ft lot
• Built 1976
• Listed 31 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $208k.

Deal economics

• At list price, monthly cash flow is $-43 ($-514/yr) — negative.
• To cash-flow at today's rent, offer at most $200k (3.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (4.2% below list).
• Recommended offer: $199k (4.2% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 4.6% 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: schools D, health & safety D, crime 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.
• Market conditions: Rents rising fast (+8.1%/yr); 95 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 6d on market — plan ~1-2 weeks tenant-placement turnaround); 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent runs 37% of the median local income ($65k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 31 days — a 3% lower offer ($202k) is reasonable based on typical stale-listing flexibility.
• 19 sale attempts since 28y 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 $25k; list at $208k implies a 732% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 2.5% of price.

Recommended offer $199,299 (4.2% 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. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
3. Built in 1976 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.96% ✗
• Cap rate: 6.05%
• Cash-on-cash: -0.88%
• DSCR: 0.96
• GRM: 8.7

CMA / ARV

• ARV (median comp): $207,410
• List price: $208,000
• Delta: 0.28%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
24735 Lathrup Blvd	0.08mi	3/1.5	1,527 (+0%)	1mo	$150,000	$98	95
17391 George Washington Dr	0.18mi	3/2.0	1,462 (-4%)	3mo	$247,500	$169	81
24650 Lathrup Blvd	0.14mi	3/2.0	1,579 (+4%)	9mo	$315,000	$199	78
17095 George Washington Dr	0.32mi	3/2.0	1,577 (+3%)	3mo	$210,000	$133	75
17357 New Hampshire Dr	0.23mi	3/2.0	1,666 (+9%)	13mo	$243,000	$146	61
18516 Addison Dr	0.34mi	3/2.0	1,649 (+8%)	10mo	$312,000	$189	60
25640 Grand Concourse St	0.51mi	3/2.5	1,590 (+4%)	7mo	$275,000	$173	59
24555 Harden Ave	0.50mi	3/2.0	1,662 (+9%)	3mo	$245,000	$147	57
17251 Lee St	0.23mi	4/1.5 (+1)	1,753 (+15%)	7mo	$182,000	$104	53
17347 Lincoln Dr	0.55mi	3/1.5	1,317 (-14%)	10mo	$290,000	$220	43
18550 Mount Vernon St	0.53mi	3/2.0	1,742 (+14%)	10mo	$380,000	$218	42
16952 Mount Vernon St	0.58mi	3/2.0	1,316 (-14%)	11mo	$260,000	$198	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -11.6%
• Equity multiple: 0.56×
• Total profit: $-25,762
• Equity at exit: $31,013

10-year hold

• IRR: 4.3%
• Equity multiple: 1.39×
• Total profit: $22,560
• Equity at exit: $17,984

Cash invested: $58,240 (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 48075

• Rents YoY: 8.1%
• Active inventory: 95
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,993 high
• Mortgage (P&I): −$1,091
• Tax from tax record: −$440 /mo · $5,279/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$419
• Net cashflow: $-43

Break-even live

Break-even rent $2,047

Max offer price $200,427

Occupancy floor 97%

Sensitivity live

Price	-10% $75	-5% $16	+0% $-43	+5% $-102	+10% $-161
Rent	-10% $-200	-5% $-122	+0% $-43	+5% $36	+10% $115
Rate	-1.0pp $62	-0.5pp $10	base $-43	+0.5pp $-97	+1.0pp $-152

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: $52,000
• Closing costs: $6,240
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23600 Lamplighter Dr Southfield, MI	1.0–2.0	1.0–2.0	1085	$1,765	$1.63	3d	15	0.89mi
16176 Cumberland Rd Southfield, MI	2.0–3.0	2.0	1450	$1,675	$1.16	44d	1	0.95mi
15570 Mount Vernon St Southfield, MI	3.0	2.0	2100	$2,200	$1.05	44d	1	0.99mi
15800 Providence Dr Southfield, MI	3.0	1.0–2.0	1140	$1,895	$1.66	3d	22	1.01mi
15341 Marlow St Oak Park, MI	3.0	2.0	2097	$2,200	$1.05	4d	1	1.07mi
23300 Providence Dr Southfield, MI	2.0–3.0	2.0	1342	$1,749	$1.30	0d	14	1.07mi
16200 W 9 Mile Rd Southfield, MI	1.0–2.0	1.0–2.0	971	$1,700	$1.75	6d	2	1.08mi
17440 W Eleven Mile Rd Lathrup Village, MI	2.0	2.5	1264	$1,949	$1.54	6d	1	1.09mi
25221 W Rue Versailles Dr Oak Park, MI	1.0–2.0	1.0	850	$1,055	$1.24	25d	1	1.09mi
25026 E Rue Versailles Dr Oak Park, MI	1.0–2.0	1.0–2.0	932	$1,740	$1.87	0d	10	1.12mi
25582 Saint James Southfield, MI	3.0	2.5	1539	$2,600	$1.69	23d	1	1.17mi
25582 Saint James Southfield, MI	3.0	2.5	1539	$2,550	$1.66	0d	1	1.17mi
25582 Saint James Southfield, MI	3.0	2.5	1539	$2,600	$1.69	25d	1	1.17mi
16500 N Park Dr Southfield, MI	1.0–3.0	1.0–2.5	1500	$2,289	$1.53	0d	1	1.32mi
19500 W 11 Mile Rd Lathrup Village, MI	2.0	2.0	1393	$1,520	$1.09	13d	1	1.34mi
20300 Civic Center Dr Southfield, MI	4.0	1.0–2.0	1200	$1,986	$1.65	0d	14	1.38mi
25600 Briar Dr Oak Park, MI	2.0–3.0	1.5	1235	$1,935	$1.57	25d	7	1.40mi

Listing history 44 events

1. 2026-05-18
   status Pending 240-char remark

   Show marketing remark (240 chars)

   Very Cozy Newly Renovated Ranch. Super Convenient Location. Close To Major Hwy , Shopping And Entertainments. New Kitchen, New Floors, New Windows, New Paint, Stainless Steel Appliances. New Sewer Pipe . Turn Key Home. Must Come And See !!!

2. 2026-05-18
   status Pending 240-char remark

   Show marketing remark (240 chars)

   Very Cozy Newly Renovated Ranch. Super Convenient Location. Close To Major Hwy , Shopping And Entertainments. New Kitchen, New Floors, New Windows, New Paint, Stainless Steel Appliances. New Sewer Pipe . Turn Key Home. Must Come And See !!!

3. 2026-04-18
   listed $208,000 Active 240-char remark

   Show marketing remark (240 chars)

   Very Cozy Newly Renovated Ranch. Super Convenient Location. Close To Major Hwy , Shopping And Entertainments. New Kitchen, New Floors, New Windows, New Paint, Stainless Steel Appliances. New Sewer Pipe . Turn Key Home. Must Come And See !!!

4. 2026-04-18
   listed $208,000 Active 240-char remark

   Show marketing remark (240 chars)

   Very Cozy Newly Renovated Ranch. Super Convenient Location. Close To Major Hwy , Shopping And Entertainments. New Kitchen, New Floors, New Windows, New Paint, Stainless Steel Appliances. New Sewer Pipe . Turn Key Home. Must Come And See !!!

5. 2026-04-14
   historical $208,000 240-char remark

   Show marketing remark (240 chars)

   Very Cozy Newly Renovated Ranch. Super Convenient Location. Close To Major Hwy , Shopping And Entertainments. New Kitchen, New Floors, New Windows, New Paint, Stainless Steel Appliances. New Sewer Pipe . Turn Key Home. Must Come And See !!!

6. 2026-02-03
   historical
7. 2026-02-03
   historical
8. 2025-11-25
   listed $229,000 Active
9. 2025-11-25
   listed $229,000 Active
10. 2025-10-16
    historical
11. 2025-10-16
    historical
12. 2025-08-28
    price $249,500
13. 2025-08-27
    price $249,500
14. 2025-07-31
    listed $258,000 Active
15. 2025-07-31
    listed $258,000 Active
16. 2025-07-26
    historical
17. 2023-06-28
    historical
18. 2022-11-09
    historical
19. 2022-11-09
    historical
20. 2022-11-09
    historical
21. 2022-10-18
    listed $168,000 Active
22. 2022-10-18
    listed $168,000 Active
23. 2022-10-18
    listed $168,000
24. 2010-05-11
    soldstatus $25,000
25. 2010-05-11
    soldstatus $25,000
26. 2010-04-16
    historical
27. 2010-03-30
    listed $25,000
28. 2010-03-30
    listed $25,000
29. 2009-12-31
    historical
30. 2009-10-23
    historical
31. 2009-09-28
    listed $100,000
32. 2009-04-23
    listed $100,000
33. 2006-02-21
    historical
34. 2005-12-16
    listed $169,900
35. 2002-06-12
    historical
36. 2002-05-31
    listed $135,900
37. 2002-05-31
    historical
38. 2001-11-15
    listed $135,900
39. 2001-11-05
    historical
40. 2001-09-04
    listed $144,900
41. 2000-06-08
    historical
42. 2000-01-12
    listed $149,000
43. 1998-06-30
    historical
44. 1998-02-20
    listed $110,000

ⓘ 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: $5,279 · $440/mo
• Projected year-2 tax: $5,279 · $440/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,916
• − Mortgage interest: −$11,651
• − Property taxes: −$5,279
• − Insurance: −$1,040
• − Repairs & maintenance: −$1,913
• − Management: −$1,913
• − Depreciation: −$6,051
• Taxable loss: −$3,931
• Est. tax savings @ 24.0%: +$944
• After-tax cash flow: $429/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: 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

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
• County: Oakland County · 1,009,092 people
• City population: 54,914
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 22,841
• Household income: $65,384
• Rent vs Own: 38.4% rent · 61.6% own
• Severe rent burden: 1336.0

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: Majority Black (65%)
• Race & ethnicity: Black 65% White 26% Two or more races 7% Hispanic / Latino 1%
• Common ancestry: Romanian 2% Scotch-Irish 2% Subsaharan African 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Russian/Polish/Slavic 1% Spanish 1% German/W. Germanic 1%

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: ▼ -209.20%
• Current HPI: 190.3275
• Rent YoY: ▲ 8.06%
• 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

+89.1% since first listed

44 events — show timeline

• 2026-05-18 Pending — MiRealSource-MiMLS
• 2026-05-18 Pending — REALCOMP
• 2026-04-18 Listed $208,000 REALCOMP
• 2026-04-18 Listed $208,000 MiRealSource-MiMLS
• 2026-04-14 Coming Soon $208,000 MiRealSource-MiMLS
• 2026-02-03 Listing Removed — MiRealSource-MiMLS
• 2026-02-03 Listing Removed — REALCOMP
• 2025-11-25 Listed $229,000 REALCOMP
• 2025-11-25 Listed $229,000 MiRealSource-MiMLS
• 2025-10-16 Listing Removed — MiRealSource-MiMLS
• 2025-10-16 Listing Removed — REALCOMP
• 2025-08-28 Price Changed $249,500 MiRealSource-MiMLS
• 2025-08-27 Price Changed $249,500 REALCOMP
• 2025-07-31 Listed $258,000 MiRealSource-MiMLS
• 2025-07-31 Listed $258,000 REALCOMP
• 2025-07-26 Coming Soon — MiRealSource-MiMLS
• 2023-06-28 Rental Removed — REALSOURCE
• 2022-11-09 Listing Removed — REALCOMP
• 2022-11-09 Listing Removed — MiRealSource-MiMLS
• 2022-11-09 Listing Removed — REALCOMP
• 2022-10-18 Listed $168,000 REALCOMP
• 2022-10-18 Listed $168,000 MiRealSource-MiMLS
• 2022-10-18 Listed $168,000 REALCOMP
• 2010-05-11 Sold (MLS) $25,000 REALCOMP
• 2010-05-11 Sold (MLS) $25,000 MiRealSource-MiMLS
• 2010-04-16 Listing Removed — MiRealSource-MiMLS
• 2010-03-30 Listed $25,000 REALCOMP
• 2010-03-30 Listed $25,000 MiRealSource-MiMLS
• 2009-12-31 Listing Removed — MiRealSource-MiMLS
• 2009-10-23 Listing Removed — REALCOMP
• 2009-09-28 Listed $100,000 MiRealSource-MiMLS
• 2009-04-23 Listed $100,000 REALCOMP
• 2006-02-21 Listing Removed — REALCOMP
• 2005-12-16 Listed $169,900 REALCOMP
• 2002-06-12 Listing Removed — REALCOMP
• 2002-05-31 Listing Removed — REALCOMP
• 2002-05-31 Listed $135,900 REALCOMP
• 2001-11-15 Listed $135,900 REALCOMP
• 2001-11-05 Listing Removed — REALCOMP
• 2001-09-04 Listed $144,900 REALCOMP
• 2000-06-08 Listing Removed — REALCOMP
• 2000-01-12 Listed $149,000 REALCOMP
• 1998-06-30 Listing Removed — REALCOMP
• 1998-02-20 Listed $110,000 REALCOMP

Property tax history

+5.7%/yr

Latest (2025): $5,279 · +81.2% YoY. Source: county tax records.