42559 Steepleview St · Plymouth, MI 48168

$600,000

4 bd · 2.5 ba · 2,369 sqft · SingleFamily public records · 4 Days on market

Built 1980 0.33 ac lot Est $742k · 19% under · waterfront $16/mo HOA

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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 +25.9/30.0
• ARV discount +15.0/15.0
• DSCR +8.7/10.0
• Schools +6.6/10.0
• 1% rule +6.0/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This colonial in Northville's coveted Whispereood subdivision is what you've been waiting for, inside and out. The Tudor exterior delivers impressive curb appeal, while warm wood floors and a center staircase welcome you home. Inside, living and entertaining come naturally: stately windows in the living room invite lingering conversation, while the dining room and kitchen promise memories for years to come. A first-floor flex space offers room for a home office, playroom, or gym. The showstopper? The family room with fireplace and sweeping views of a private pond and treed backyard. Step out to the Trex deck and paver patio to take in the sights and sounds of your own waterfront escape. Close to Hines Park, within the Northville school district, and surrounded by the conveniences of nearby restaurants, shopping (Cantoro's, Nino Salvaggio's, and an upcoming Whole Foods!), and easy freeway access - this is suburban perfection and serenity, all in one.

Key facts

• Treed backyard
• Tudor exterior
• Private pond

Tags

• TUDOR EXTERIOR
• FIRST FLOOR FLEX SPACE
• FAMILY ROOM WITH FIREPLACE
• PRIVATE POND
• TREED BACKYARD
• TREX DECK

Property features AI

Finance

• Other: Directions: Six Mile to south on Bradner, then right on Steeple View
• Financial info: Tax amount not included per instructions
• HOA & community: Homeowners association with an annual fee of $191 (about $15.92/month); Subdivision: WHISPER WOOD SUB; Community sidewalks

Exterior

• Parking: Attached garage with garage door opener; 2 garage spaces
• Security: Security features not specified
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry with steps; Brick and wood siding exterior; Asphalt roof; Facing direction not specified
• Construction: Brick and wood siding construction; Asphalt roof; Partially finished below-grade area
• Exterior features: Covered patio/porch and deck; Patio and porch; Pond on the property; Paved road access

Interior

• Kitchen: Dishwasher; Disposal; Free-standing gas oven; Free-standing refrigerator; Exhaust fan; Gas water heater
• Bedrooms: Bedrooms not specified
• Flooring: Flooring not specified
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating; Exhaust fan
• Interior features: Wood-burning fireplace in the family room; Partially finished basement with sump pump; 12 total rooms
• Laundry & utility: Washer/dryer not specified

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $600k.

Deal economics

• At list price, monthly cash flow is $1k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($7k rent vs $600k).
• Cap rate 9.2% vs local median 3.2% in Plymouth — 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 85/100 on livability (#25 in MI, #516 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, employment 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.
• Zoned schools: Winchester Elementary School (math 67% / reading 72%, grade A-, #74 of 1,397 statewide, top 7%, 476 students, 6% FRL); Meads Mill Middle School (math 65% / reading 74%, grade A, #28 of 493 statewide, top 6%, 671 students, 9% FRL); Northville High School (math 68% / reading 86%, grade A-, #11 of 713 statewide, top 2%, 2,499 students, 7% FRL) — zoned schools at 7% FRL track the district average.
• Market conditions: 146 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $4k of loan paydown is wiped out by about $18k 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.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 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 $600,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
5. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
6. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
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: 1.10% ✓
• Cap rate: 9.25%
• Cash-on-cash: 10.55%
• DSCR: 1.47
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $741,971
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
42730 Steepleview St	0.14mi	4/2.5	2,380 (+0%)	2mo	$600,000	$252	91
42737 Steepleview Ct	0.15mi	4/2.0	2,417 (+2%)	6mo	$435,000	$180	82
42845 Inverness Ct	0.25mi	4/2.5	2,243 (-5%)	1mo	$520,000	$232	79
43085 Whisper Ct	0.25mi	4/2.5	2,437 (+3%)	9mo	$630,000	$259	76
42260 Five Mile Rd	0.37mi	4/2.5	2,591 (+9%)	5mo	$520,000	$201	63
16761 Franklin Rd	0.61mi	3/2.5 (-1)	2,455 (+4%)	2mo	$790,000	$322	59
14836 Plymouth Xing	0.73mi	4/3.5	2,310 (-2%)	1mo	$590,000	$255	57
41501 Ladywood Ct	0.69mi	4/2.5	2,203 (-7%)	1mo	$568,500	$258	55
42117 Banbury Rd	0.74mi	4/2.5	2,563 (+8%)	10mo	$590,000	$230	44
14925 Plymouth Xing	0.67mi	3/2.5 (-1)	2,627 (+11%)	3mo	$500,000	$190	43
41415 Five Mile Rd	0.70mi	5/3.0 (+1)	2,526 (+7%)	10mo	$499,900	$198	41
42030 Schoolcraft Rd	0.72mi	3/2.0 (-1)	2,066 (-13%)	8mo	$430,000	$208	31

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: -0.5%
• Equity multiple: 0.98×
• Total profit: $-3,275
• Equity at exit: $89,462

10-year hold

• IRR: 9.1%
• Equity multiple: 1.70×
• Total profit: $117,675
• Equity at exit: $51,877

Cash invested: $168,000 (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 48168

• Active inventory: 146
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $6,580 medium
• Mortgage (P&I): −$3,146
• Tax from tax record: −$308 /mo · $3,696/yr
• Insurance: −$250
• HOA: −$16
• Vacancy / Maint / Mgmt: −$1,382
• Net cashflow: $1,478

Break-even live

Break-even rent $4,709

Max offer price $600,000

Occupancy floor 73%

Sensitivity live

Price	-10% $1,817	-5% $1,647	+0% $1,478	+5% $1,308	+10% $1,138
Rent	-10% $958	-5% $1,218	+0% $1,478	+5% $1,738	+10% $1,997
Rate	-1.0pp $1,780	-0.5pp $1,630	base $1,478	+0.5pp $1,322	+1.0pp $1,164

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: $150,000
• Closing costs: $18,000
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16646 Brooklane Blvd Northville, MI	4.0	4.5	3282	$13,300	$4.05	18d	1	0.68mi
42021 Banbury Ct Northville, MI	5.0	3.0	2600	$3,503	$1.35	0d	1	0.72mi
42965 River Bend Dr Plymouth, MI	3.0	3.5	2431	$3,310	$1.36	4d	1	1.00mi

HOA detail

• Monthly dues: $16 · $192/yr
• Likely covers: watergym

Listing history 4 events

1. 2026-04-28
   status Pending 963-char remark

   Show marketing remark (963 chars)

   This colonial in Northville's coveted Whispereood subdivision is what you've been waiting for, inside and out. The Tudor exterior delivers impressive curb appeal, while warm wood floors and a center staircase welcome you home. Inside, living and entertaining come naturally: stately windows in the living room invite lingering conversation, while the dining room and kitchen promise memories for years to come. A first-floor flex space offers room for a home office, playroom, or gym. The showstopper? The family room with fireplace and sweeping views of a private pond and treed backyard. Step out to the Trex deck and paver patio to take in the sights and sounds of your own waterfront escape. Close to Hines Park, within the Northville school district, and surrounded by the conveniences of nearby restaurants, shopping (Cantoro's, Nino Salvaggio's, and an upcoming Whole Foods!), and easy freeway access - this is suburban perfection and serenity, all in one.

2. 2026-04-28
   status Pending

   Show marketing remark (963 chars)

   This colonial in Northville's coveted Whispereood subdivision is what you've been waiting for, inside and out. The Tudor exterior delivers impressive curb appeal, while warm wood floors and a center staircase welcome you home. Inside, living and entertaining come naturally: stately windows in the living room invite lingering conversation, while the dining room and kitchen promise memories for years to come. A first-floor flex space offers room for a home office, playroom, or gym. The showstopper? The family room with fireplace and sweeping views of a private pond and treed backyard. Step out to the Trex deck and paver patio to take in the sights and sounds of your own waterfront escape. Close to Hines Park, within the Northville school district, and surrounded by the conveniences of nearby restaurants, shopping (Cantoro's, Nino Salvaggio's, and an upcoming Whole Foods!), and easy freeway access - this is suburban perfection and serenity, all in one.

3. 2026-04-24
   listed $600,000 Active 963-char remark

   Show marketing remark (963 chars)

   This colonial in Northville's coveted Whispereood subdivision is what you've been waiting for, inside and out. The Tudor exterior delivers impressive curb appeal, while warm wood floors and a center staircase welcome you home. Inside, living and entertaining come naturally: stately windows in the living room invite lingering conversation, while the dining room and kitchen promise memories for years to come. A first-floor flex space offers room for a home office, playroom, or gym. The showstopper? The family room with fireplace and sweeping views of a private pond and treed backyard. Step out to the Trex deck and paver patio to take in the sights and sounds of your own waterfront escape. Close to Hines Park, within the Northville school district, and surrounded by the conveniences of nearby restaurants, shopping (Cantoro's, Nino Salvaggio's, and an upcoming Whole Foods!), and easy freeway access - this is suburban perfection and serenity, all in one.

4. 2026-04-24
   listed $600,000 Active

   Show marketing remark (963 chars)

   This colonial in Northville's coveted Whispereood subdivision is what you've been waiting for, inside and out. The Tudor exterior delivers impressive curb appeal, while warm wood floors and a center staircase welcome you home. Inside, living and entertaining come naturally: stately windows in the living room invite lingering conversation, while the dining room and kitchen promise memories for years to come. A first-floor flex space offers room for a home office, playroom, or gym. The showstopper? The family room with fireplace and sweeping views of a private pond and treed backyard. Step out to the Trex deck and paver patio to take in the sights and sounds of your own waterfront escape. Close to Hines Park, within the Northville school district, and surrounded by the conveniences of nearby restaurants, shopping (Cantoro's, Nino Salvaggio's, and an upcoming Whole Foods!), and easy freeway access - this is suburban perfection and serenity, all in one.

ⓘ 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: $3,696 · $308/mo
• Projected year-2 tax: $6,468 · $539/mo
• Expected delta: +$2,772/yr (+$231/mo · 75.0%)

ⓘ 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 2/10 Low 7 d/yr ≥97°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $78,959
• − Mortgage interest: −$33,609
• − Property taxes: −$3,696
• − Insurance: −$3,000
• − Repairs & maintenance: −$6,317
• − Management: −$6,317
• − HOA: −$192
• − Depreciation: −$17,455
• Taxable income: $8,374
• Est. tax owed @ 24.0%: −$2,010
• After-tax cash flow: $15,722/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 — Plymouth

• Score: 85/100
• State rank: #25
• US rank: #516

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 40,076
• Population (ZIP): 25,039

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 (72%)
• Race & ethnicity: White 72% Asian 19% Two or more races 5% Hispanic / Latino 4% Black 2%
• Common ancestry: Romanian 9% Italian 3% Lithuanian 3%
• Foreign-born: 20% · Canada, China, Jamaica
• Languages at home: 77% English-only · Other Indo-European 7% Other Asian/Pacific 5% Chinese 3%

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: ▼ -198.06%
• Current HPI: 176.9122
• 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

Price history

+0.0% since first listed

4 events — show timeline

• 2026-04-28 Pending — MiRealSource-MiMLS
• 2026-04-28 Pending — REALCOMP
• 2026-04-24 Listed $600,000 REALCOMP
• 2026-04-24 Listed $600,000 MiRealSource-MiMLS

Property tax history

-1.9%/yr

Latest (2025): $3,696 · -38.3% YoY. Source: county tax records.