45907 Riviera Drive Dr · Northville, MI 48168

$899,000

3 bd · 2.5 ba · 2,714 sqft · SingleFamily public records · 10 Days on market

Built 2002 0.28 ac lot $125/mo HOA · 2% of rent

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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 +12.9/30.0
• ARV discount +7.5/15.0
• Schools +6.6/10.0
• Livability +4.4/5.0
• DSCR +3.8/10.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rare opportunity for updated golf course home on 1st hole in Northville Hills featuring stunning fairway & silo views, bright & airy open floor plan, 3 car garage & finished daylight lower level for under $600K. Extensive wainscoting, crown molding & wood floors, new sliding French doors & plantation shutters in 2 story great room, gourmet kitchen with 42" maple cabinets & granite counters. Desirable 1st floor master suite with sitting area, tray ceiling, walk-through closet, his & her vanities, separate shower, tub & water closet. 4th bedroom in exquisitely finished daylight lower level with stone bathroom, 2nd office, family room with stone fireplace, 2nd full kitchen with granite bar & custom wine cellar. Large, serene back yard with deck, gazebo & ample room for kids to play. All M/D are approx. The Buyer Agent is required to be physically present for all showings unless prior express written consent is given by the Listing Agent and/or Seller to the contrary.

Key facts

• 0.28 acre lot
• 3 garage spots
• Community pool

Property features AI

Finance

• Other: Lot frontage 85 feet; Approximately 0.28 acres
• HOA & community: Homeowners association with yearly fee of $1,500 (association phone available)

Exterior

• Parking: Attached 3-car garage with electric in garage, garage door opener, side loading
• Utilities: Public water (service at street); Natural gas; Forced air heating
• Home design: Residential property; 1 1/2-story design; Built in 2002; Facing/entry orientation not specified
• Construction: Brick construction; Basement foundation; Year built 2002
• Exterior features: Brick exterior; Has pool; Paved street access

Interior

• Bedrooms: Entry-level bedroom (2 x 2); Second-floor bedroom (2 x 2) with carpet; Second-floor bedroom (width 2) with carpet
• Flooring: Carpet in some bedrooms; Wood in lavatory; Ceramic in bathrooms
• Bathrooms: Entry-level bathroom with ceramic flooring; Second-floor bathroom with ceramic flooring; Basement bathroom; Total: 3 full bathrooms and 1 lavatory (4 total fixtures)
• Heating & cooling: Forced air heating; Natural gas fuel
• Interior features: Finished basement; Total of 7 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $899k.

Deal economics

• At list price, monthly cash flow is $-71 ($-851/yr) — negative.
• To cash-flow at today's rent, offer at most $886k (1.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $722k (19.7% below list).
• Recommended offer: $722k (19.7% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 2.4% 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: 145 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 10d 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 $6k of loan paydown is wiped out by about $27k 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 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 19y ago; this cycle's ask is 59% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $565k; list at $899k implies a 59% gain — meaningful room to come down on a strong offer.

Recommended offer $721,508 (19.7% 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. 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. 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?
6. 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.
7. 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.
8. 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: 0.80% ✗
• Cap rate: 6.20%
• Cash-on-cash: -0.34%
• DSCR: 0.98
• GRM: 10.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -16.9%
• Equity multiple: 0.40×
• Total profit: $-150,355
• Equity at exit: $134,044

10-year hold

• IRR: -8.8%
• Equity multiple: 0.45×
• Total profit: $-137,401
• Equity at exit: $77,729

Cash invested: $251,720 (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: 145
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $7,215 medium
• Mortgage (P&I): −$4,714
• Tax from tax record: −$557 /mo · $6,681/yr
• Insurance: −$375
• HOA: −$125
• Vacancy / Maint / Mgmt: −$1,515
• Net cashflow: $-71

Break-even live

Break-even rent $7,305

Max offer price $886,476

Occupancy floor 96%

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: $224,750
• Closing costs: $26,970
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
47671 Alden Ter N Northville, MI	3.0	3.5	2085	$3,100	$1.49	10d	1	0.99mi
16646 Brooklane Blvd Northville, MI	4.0	4.5	3282	$13,300	$4.05	16d	1	1.01mi
18182 Blue Heron Dr W #91 Northville, MI	2.0	3.5	3164	$4,400	$1.39	1d	1	1.34mi

HOA detail

• Monthly dues: $125 · $1,500/yr
• Likely covers: water

Listing history 26 events

1. 2026-06-07
   status $899,000 Pending 10 DOM
2. 2026-06-04
   days on market $899,000 Active 10 DOM
3. 2026-06-03
   days on market $899,000 Active 9 DOM
4. 2026-06-02
   days on market $899,000 Active 8 DOM
5. 2026-06-01
   days on market $899,000 Active 7 DOM
6. 2026-05-31
   days on market $899,000 Active 6 DOM
7. 2026-05-23
   historical $899,000
8. 2016-07-22
   soldstatus $565,000
9. 2016-07-19
   soldstatus $565,000 Sold 1043-char remark

   Show marketing remark (1043 chars)

   Rare opportunity for updated golf course home on 1st hole in Northville Hills featuring stunning fairway & silo views, bright & airy open floor plan, 3 car garage & finished daylight lower level for under $600K. Extensive wainscoting, crown molding & wood floors, new sliding French doors & plantation shutters in 2 story great room, gourmet kitchen with 42" maple cabinets & granite counters. Desirable 1st floor master suite with sitting area, tray ceiling, walk-through closet, his & her vanities, separate shower, tub & water closet. 4th bedroom in exquisitely finished daylight lower level with stone bathroom, 2nd office, family room with stone fireplace, 2nd full kitchen with granite bar & custom wine cellar. Large, serene back yard with deck, gazebo & ample room for kids to play. All M/D are approx. The Buyer Agent is required to be physically present for all showings unless prior express written consent is given by the Listing Agent and/or Seller to the contrary.

10. 2016-07-19
    soldstatus $565,000 Closed

    Show marketing remark (1043 chars)

    Rare opportunity for updated golf course home on 1st hole in Northville Hills featuring stunning fairway & silo views, bright & airy open floor plan, 3 car garage & finished daylight lower level for under $600K. Extensive wainscoting, crown molding & wood floors, new sliding French doors & plantation shutters in 2 story great room, gourmet kitchen with 42" maple cabinets & granite counters. Desirable 1st floor master suite with sitting area, tray ceiling, walk-through closet, his & her vanities, separate shower, tub & water closet. 4th bedroom in exquisitely finished daylight lower level with stone bathroom, 2nd office, family room with stone fireplace, 2nd full kitchen with granite bar & custom wine cellar. Large, serene back yard with deck, gazebo & ample room for kids to play. All M/D are approx. The Buyer Agent is required to be physically present for all showings unless prior express written consent is given by the Listing Agent and/or Seller to the contrary.

11. 2016-06-12
    status Pending

    Show marketing remark (1043 chars)

    Rare opportunity for updated golf course home on 1st hole in Northville Hills featuring stunning fairway & silo views, bright & airy open floor plan, 3 car garage & finished daylight lower level for under $600K. Extensive wainscoting, crown molding & wood floors, new sliding French doors & plantation shutters in 2 story great room, gourmet kitchen with 42" maple cabinets & granite counters. Desirable 1st floor master suite with sitting area, tray ceiling, walk-through closet, his & her vanities, separate shower, tub & water closet. 4th bedroom in exquisitely finished daylight lower level with stone bathroom, 2nd office, family room with stone fireplace, 2nd full kitchen with granite bar & custom wine cellar. Large, serene back yard with deck, gazebo & ample room for kids to play. All M/D are approx. The Buyer Agent is required to be physically present for all showings unless prior express written consent is given by the Listing Agent and/or Seller to the contrary.

12. 2016-06-12
    status Pending 1043-char remark

    Show marketing remark (1043 chars)

    Rare opportunity for updated golf course home on 1st hole in Northville Hills featuring stunning fairway & silo views, bright & airy open floor plan, 3 car garage & finished daylight lower level for under $600K. Extensive wainscoting, crown molding & wood floors, new sliding French doors & plantation shutters in 2 story great room, gourmet kitchen with 42" maple cabinets & granite counters. Desirable 1st floor master suite with sitting area, tray ceiling, walk-through closet, his & her vanities, separate shower, tub & water closet. 4th bedroom in exquisitely finished daylight lower level with stone bathroom, 2nd office, family room with stone fireplace, 2nd full kitchen with granite bar & custom wine cellar. Large, serene back yard with deck, gazebo & ample room for kids to play. All M/D are approx. The Buyer Agent is required to be physically present for all showings unless prior express written consent is given by the Listing Agent and/or Seller to the contrary.

13. 2016-06-09
    listed $565,000 Active

    Show marketing remark (1043 chars)

    Rare opportunity for updated golf course home on 1st hole in Northville Hills featuring stunning fairway & silo views, bright & airy open floor plan, 3 car garage & finished daylight lower level for under $600K. Extensive wainscoting, crown molding & wood floors, new sliding French doors & plantation shutters in 2 story great room, gourmet kitchen with 42" maple cabinets & granite counters. Desirable 1st floor master suite with sitting area, tray ceiling, walk-through closet, his & her vanities, separate shower, tub & water closet. 4th bedroom in exquisitely finished daylight lower level with stone bathroom, 2nd office, family room with stone fireplace, 2nd full kitchen with granite bar & custom wine cellar. Large, serene back yard with deck, gazebo & ample room for kids to play. All M/D are approx. The Buyer Agent is required to be physically present for all showings unless prior express written consent is given by the Listing Agent and/or Seller to the contrary.

14. 2016-06-09
    listed $565,000 Active 1043-char remark

    Show marketing remark (1043 chars)

    Rare opportunity for updated golf course home on 1st hole in Northville Hills featuring stunning fairway & silo views, bright & airy open floor plan, 3 car garage & finished daylight lower level for under $600K. Extensive wainscoting, crown molding & wood floors, new sliding French doors & plantation shutters in 2 story great room, gourmet kitchen with 42" maple cabinets & granite counters. Desirable 1st floor master suite with sitting area, tray ceiling, walk-through closet, his & her vanities, separate shower, tub & water closet. 4th bedroom in exquisitely finished daylight lower level with stone bathroom, 2nd office, family room with stone fireplace, 2nd full kitchen with granite bar & custom wine cellar. Large, serene back yard with deck, gazebo & ample room for kids to play. All M/D are approx. The Buyer Agent is required to be physically present for all showings unless prior express written consent is given by the Listing Agent and/or Seller to the contrary.

15. 2010-01-14
    soldstatus $338,000
16. 2009-12-08
    soldstatus $338,000
17. 2009-03-05
    listed $400,000
18. 2009-03-05
    historical
19. 2009-01-02
    listed $400,000
20. 2009-01-02
    historical
21. 2008-12-12
    listed $400,000
22. 2008-12-12
    historical
23. 2008-11-11
    listed $410,000
24. 2007-11-26
    historical
25. 2007-10-18
    listed $500,000
26. 2003-02-17
    soldstatus $526,626

ⓘ 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: $6,681 · $557/mo
• Projected year-2 tax: $10,263 · $855/mo
• Expected delta: +$3,582/yr (+$298/mo · 53.6%)

ⓘ 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 · 15 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: $86,581
• − Mortgage interest: −$50,358
• − Property taxes: −$6,681
• − Insurance: −$4,495
• − Repairs & maintenance: −$6,926
• − Management: −$6,926
• − HOA: −$1,500
• − Depreciation: −$26,153
• Taxable loss: −$16,459
• Est. tax savings @ 24.0%: +$3,950
• After-tax cash flow: $3,099/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

• City population: 24,713
• 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

+70.7% since first listed

20 events — show timeline

• 2026-05-23 Coming Soon $899,000 MiRealSource-MiMLS
• 2016-07-22 Sold (Public Records) $565,000 Public Records
• 2016-07-19 Sold (MLS) $565,000 MiRealSource-MiMLS
• 2016-07-19 Sold (MLS) $565,000 REALCOMP
• 2016-06-12 Pending — MiRealSource-MiMLS
• 2016-06-12 Pending — REALCOMP
• 2016-06-09 Listed $565,000 MiRealSource-MiMLS
• 2016-06-09 Listed $565,000 REALCOMP
• 2010-01-14 Sold (Public Records) $338,000 Public Records
• 2009-12-08 Sold (MLS) $338,000 REALCOMP
• 2009-03-05 Listing Removed — REALCOMP
• 2009-03-05 Listed $400,000 REALCOMP
• 2009-01-02 Listing Removed — REALCOMP
• 2009-01-02 Listed $400,000 REALCOMP
• 2008-12-12 Listing Removed — REALCOMP
• 2008-12-12 Listed $400,000 REALCOMP
• 2008-11-11 Listed $410,000 REALCOMP
• 2007-11-26 Listing Removed — REALCOMP
• 2007-10-18 Listed $500,000 REALCOMP
• 2003-02-17 Sold (Public Records) $526,626 Public Records

Property tax history

-0.8%/yr

Latest (2025): $6,681 · -38.3% YoY. Source: county tax records.