24667 Bashian Dr · Novi, MI 48375

$199,900

3 bd · 2.5 ba · 1,488 sqft · Condo · 12 Days on market

Built 1973 $134/sqft · 11% below area Est $224k · 11% under $406/mo HOA · 21% 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).

• ARV discount +12.3/15.0
• Cash flow +8.1/30.0
• Schools +6.5/10.0
• 1% rule +4.5/10.0
• Livability +4.3/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 24667 Bashian Drive in the highly sought-after Applegate of Novi community. Step inside to find warm hardwood flooring flowing through the main level, creating a bright and cohesive feel throughout the living spaces. The kitchen offers a functional layout with ample cabinet and counter space, complemented by stainless steel appliances and a large window that fills the space with natural light. Adjacent to the kitchen is a cozy dining area - perfect for everyday meals or casual entertaining. The spacious living room features an expansive layout with large sliding glass doors that flood the space with light and provide seamless access to the outdoor patio. Upstairs, you'll find generously sized bedrooms with ample closet space and great natural light. The primary bedroom features its own private balcony access - an ideal spot to unwind. Bathrooms have been updated. The finished lower level provides additional living space for a family room, home office, or workout area, along with a dedicated laundry area and plenty of storage. Enjoy outdoor living with a private fenced patio. The community offers a peaceful setting with mature landscaping and convenient access to shopping, dining, parks, and major expressways.

Key facts

• Hardwood flooring
• Private fenced patio
• Mature landscaping

Tags

• HARDWOOD FLOORING
• STAINLESS STEEL APPLIANCES
• PRIVATE BALCONY ACCESS
• FINISHED LOWER LEVEL
• PRIVATE FENCED PATIO
• MATURE LANDSCAPING

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee of $406; HOA covers gas, grounds maintenance, structure maintenance, sewer, snow removal, trash, and water; Community amenities: pool, clubhouse, sidewalks, tennis courts

Exterior

• Parking: No garage
• Utilities: Sewer available; Water available
• Home design: Condominium (residential); Two levels; Ground-level entry
• Construction: Aluminum siding and brick exterior
• Exterior features: Patio; Porch; Community in-ground pool; Community clubhouse; Community sidewalks; Community tennis courts; Paved road access; Pets allowed

Interior

• Kitchen: Dishwasher; Free-standing gas range; Free-standing refrigerator; Ice maker; Range hood; Stainless steel appliances
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Ceiling fan(s)
• Interior features: Finished full basement; Gas water heater; Stainless steel appliances; Ice maker; Range hood
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $200k.

Deal economics

• At list price, monthly cash flow is $-196 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $165k (17.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $189k (5.3% below list).
• Recommended offer: $165k (17.3% below list) — sets the bar for cash-flow.
• Cap rate 5.1% vs local median 2.7% in Novi — 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 86/100 on livability (#20 in MI, #377 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: commute F.
• Novi Community School District (urban): math 73% / reading 72% proficiency, ranked #7 of 540 in MI (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Village Oaks Elementary School (math 72% / reading 62%, grade B+, #105 of 1,397 statewide, top 9%, 538 students, 19% FRL); Novi High School (math 75% / reading 83%, grade A-, #8 of 713 statewide, top 1%, 2,101 students, 11% FRL).
• Market conditions: Rents rising (+1.7%/yr); 143 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 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 $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

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 27y 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 $65k; list at $200k implies a 208% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $165,356 (17.3% 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 1973 — 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. 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?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.95% ✗
• Cap rate: 5.12%
• Cash-on-cash: -4.19%
• DSCR: 0.81
• GRM: 8.8

CMA / ARV

• ARV (median comp): $223,839
• List price: $199,900
• Delta: -10.69%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.68% rent growth · sell at horizon

5-year hold

• IRR: -25.1%
• Equity multiple: 0.16×
• Total profit: $-47,109
• Equity at exit: $29,806

10-year hold

• IRR: -26.4%
• Equity multiple: -0.18×
• Total profit: $-66,084
• Equity at exit: $17,284

Cash invested: $55,972 (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 48375

• Rents YoY: 1.7%
• Active inventory: 143
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,892 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$153 /mo · $1,833/yr
• Insurance: −$83
• HOA: −$406
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $-196

Break-even live

Break-even rent $2,140

Max offer price $165,356

Occupancy floor —

Sensitivity live

Price	-10% $-82	-5% $-139	+0% $-196	+5% $-252	+10% $-309
Rent	-10% $-345	-5% $-270	+0% $-196	+5% $-121	+10% $-46
Rate	-1.0pp $-95	-0.5pp $-145	base $-196	+0.5pp $-247	+1.0pp $-300

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24701 Bashian Dr #8 Novi, MI	2.0	2.5	1250	$1,800	$1.44	45d	1	0.01mi
24651 Olde Orchard St Novi, MI	2.0	2.5	1096	$1,795	$1.64	7d	1	0.13mi
23737 Stonehenge Blvd Novi, MI	2.0	1.0	936	$1,900	$2.03	19d	1	0.54mi
23672 N Rockledge Novi, MI	2.0	1.0	970	$1,695	$1.75	14d	1	0.61mi
25528 Portico Ln Unit 161 Novi, MI	2.0	2.0	1240	$1,800	$1.45	45d	1	0.93mi
25588 Portico Ln Novi, MI	3.0	2.5	1838	$2,700	$1.47	45d	1	0.96mi
22675 Pavilion Dr Novi, MI	2.0	2.0	1165	$1,562	$1.34	1d	18	0.99mi
22659 Woolsey Dr Unit 22659 Novi, MI	3.0	1.0	1025	$1,850	$1.80	20d	1	1.02mi
41670 Tera Ln Novi, MI	3.0	2.0	1794	$1,700	$0.95	46d	1	1.05mi
42101 Fountain Park Dr N Novi, MI	1.0–2.0	1.0–2.0	985	$1,824	$1.85	1d	21	1.11mi
23640 Chipmunk Trl Novi, MI	1.0–3.0	1.0–1.5	876	$1,914	$2.18	1d	4	1.18mi
25300 Constitution Novi, MI	1.0–2.0	1.0–2.5	1241	$2,344	$1.89	0d	14	1.30mi
22123 Solomon Blvd Novi, MI	2.0	2.0	1200	$1,782	$1.48	1d	3	1.32mi
24360 Independence Dr Farmington Hills, MI	1.0–3.0	1.0–2.0	967	$2,395	$2.48	0d	118	1.46mi

HOA detail condo

• Monthly dues: $406 · $4,872/yr
• Likely covers: landscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-05-16
   status Pending 1239-char remark

   Show marketing remark (1239 chars)

   Welcome to 24667 Bashian Drive in the highly sought-after Applegate of Novi community. Step inside to find warm hardwood flooring flowing through the main level, creating a bright and cohesive feel throughout the living spaces. The kitchen offers a functional layout with ample cabinet and counter space, complemented by stainless steel appliances and a large window that fills the space with natural light. Adjacent to the kitchen is a cozy dining area - perfect for everyday meals or casual entertaining. The spacious living room features an expansive layout with large sliding glass doors that flood the space with light and provide seamless access to the outdoor patio. Upstairs, you'll find generously sized bedrooms with ample closet space and great natural light. The primary bedroom features its own private balcony access - an ideal spot to unwind. Bathrooms have been updated. The finished lower level provides additional living space for a family room, home office, or workout area, along with a dedicated laundry area and plenty of storage. Enjoy outdoor living with a private fenced patio. The community offers a peaceful setting with mature landscaping and convenient access to shopping, dining, parks, and major expressways.

2. 2026-05-16
   status Pending 1253-char remark

   Show marketing remark (1239 chars)

   Welcome to 24667 Bashian Drive in the highly sought-after Applegate of Novi community. Step inside to find warm hardwood flooring flowing through the main level, creating a bright and cohesive feel throughout the living spaces. The kitchen offers a functional layout with ample cabinet and counter space, complemented by stainless steel appliances and a large window that fills the space with natural light. Adjacent to the kitchen is a cozy dining area - perfect for everyday meals or casual entertaining. The spacious living room features an expansive layout with large sliding glass doors that flood the space with light and provide seamless access to the outdoor patio. Upstairs, you'll find generously sized bedrooms with ample closet space and great natural light. The primary bedroom features its own private balcony access - an ideal spot to unwind. Bathrooms have been updated. The finished lower level provides additional living space for a family room, home office, or workout area, along with a dedicated laundry area and plenty of storage. Enjoy outdoor living with a private fenced patio. The community offers a peaceful setting with mature landscaping and convenient access to shopping, dining, parks, and major expressways.

3. 2026-05-04
   listed $199,900 Active 1239-char remark

   Show marketing remark (1239 chars)

   Welcome to 24667 Bashian Drive in the highly sought-after Applegate of Novi community. Step inside to find warm hardwood flooring flowing through the main level, creating a bright and cohesive feel throughout the living spaces. The kitchen offers a functional layout with ample cabinet and counter space, complemented by stainless steel appliances and a large window that fills the space with natural light. Adjacent to the kitchen is a cozy dining area - perfect for everyday meals or casual entertaining. The spacious living room features an expansive layout with large sliding glass doors that flood the space with light and provide seamless access to the outdoor patio. Upstairs, you'll find generously sized bedrooms with ample closet space and great natural light. The primary bedroom features its own private balcony access - an ideal spot to unwind. Bathrooms have been updated. The finished lower level provides additional living space for a family room, home office, or workout area, along with a dedicated laundry area and plenty of storage. Enjoy outdoor living with a private fenced patio. The community offers a peaceful setting with mature landscaping and convenient access to shopping, dining, parks, and major expressways.

4. 2026-05-04
   listed $199,900 Active 1253-char remark

   Show marketing remark (1239 chars)

   Welcome to 24667 Bashian Drive in the highly sought-after Applegate of Novi community. Step inside to find warm hardwood flooring flowing through the main level, creating a bright and cohesive feel throughout the living spaces. The kitchen offers a functional layout with ample cabinet and counter space, complemented by stainless steel appliances and a large window that fills the space with natural light. Adjacent to the kitchen is a cozy dining area - perfect for everyday meals or casual entertaining. The spacious living room features an expansive layout with large sliding glass doors that flood the space with light and provide seamless access to the outdoor patio. Upstairs, you'll find generously sized bedrooms with ample closet space and great natural light. The primary bedroom features its own private balcony access - an ideal spot to unwind. Bathrooms have been updated. The finished lower level provides additional living space for a family room, home office, or workout area, along with a dedicated laundry area and plenty of storage. Enjoy outdoor living with a private fenced patio. The community offers a peaceful setting with mature landscaping and convenient access to shopping, dining, parks, and major expressways.

5. 2008-06-30
   soldstatus $64,900

   Show marketing remark (220 chars)

   BANK OWNED OPPORTUNITY. 3 BEDROOMS CLOSE TO SHOPPING AND HIGHWAYS. ENJOY AMENITIES LIKE TENNIS AND A POOL WHILE SOMEONE ELSE DOES THE WORK. NO MOW NO SNOW. GAS AND WATER INCLUDED. SOLD AS-IS. EASY TO SHOW EASY TO CLOSE.

6. 2008-04-17
   listed $69,900

   Show marketing remark (220 chars)

   BANK OWNED OPPORTUNITY. 3 BEDROOMS CLOSE TO SHOPPING AND HIGHWAYS. ENJOY AMENITIES LIKE TENNIS AND A POOL WHILE SOMEONE ELSE DOES THE WORK. NO MOW NO SNOW. GAS AND WATER INCLUDED. SOLD AS-IS. EASY TO SHOW EASY TO CLOSE.

7. 2005-12-22
   soldstatus $156,000
8. 2004-06-09
   soldstatus $147,750
9. 1999-11-23
   soldstatus $124,000
10. 1999-08-27
    historical
11. 1999-07-26
    listed $135,000
12. 1997-06-06
    soldstatus $88,000
13. 1991-07-24
    soldstatus $83,000
14. 1990-02-08
    soldstatus $72,500

ⓘ 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: $1,833 · $153/mo
• Projected year-2 tax: $2,456 · $205/mo
• Expected delta: +$623/yr (+$52/mo · 34.0%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,706
• − Mortgage interest: −$11,198
• − Property taxes: −$1,833
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,816
• − Management: −$1,816
• − HOA: −$4,872
• − Depreciation: −$5,815
• Taxable loss: −$5,644
• Est. tax savings @ 24.0%: +$1,355
• After-tax cash flow: $-992/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: Novi Community School District
• NCES district ID: 2626130
• Math proficiency: 73% ▼ -3.00%
• Reading proficiency: 72% ▼ -1.00%
• Median HH income: $90,023
• Composite: 65.28/100
• National rank: #489
• State rank: #7 of 540 in MI

Livability — Novi

• Score: 86/100
• State rank: #20
• US rank: #377

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

• Census place: Novi, MI
• County: Oakland County · 1,009,092 people
• City population: 43,845
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 24,029
• Household income: $112,545
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 517.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 56% Asian 27% Two or more races 7% Black 6% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 10% Lithuanian 3% Slovak 2%
• Foreign-born: 29% · China, Canada, South Korea
• Languages at home: 67% English-only · Other Asian/Pacific 12% Other Indo-European 8% Spanish 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: ▼ -337.82%
• Current HPI: 166.0153
• Rent YoY: ▲ 1.68%
• 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

+175.7% since first listed

14 events — show timeline

• 2026-05-16 Pending — MiRealSource-MiMLS
• 2026-05-16 Pending — REALCOMP
• 2026-05-04 Listed $199,900 REALCOMP
• 2026-05-04 Listed $199,900 MiRealSource-MiMLS
• 2008-06-30 Sold (MLS) $64,900 REALCOMP
• 2008-04-17 Listed $69,900 REALCOMP
• 2005-12-22 Sold (Public Records) $156,000 Public Records
• 2004-06-09 Sold (Public Records) $147,750 Public Records
• 1999-11-23 Sold (Public Records) $124,000 Public Records
• 1999-08-27 Listing Removed — REALCOMP
• 1999-07-26 Listed $135,000 REALCOMP
• 1997-06-06 Sold (Public Records) $88,000 Public Records
• 1991-07-24 Sold (Public Records) $83,000 Public Records
• 1990-02-08 Sold (Public Records) $72,500 Public Records

Property tax history

+2.5%/yr

Latest (2025): $1,833 · +3.4% YoY. Source: county tax records.