25344 Shiawassee Cir #210 · Southfield, MI 48033

$80,000

2 bd · 1.0 ba · 1,540 sqft · Condo · 182 Days on market

Built 1967 Good condition $52/sqft · 26% below area Est $108k · 26% under $439/mo HOA · 29% of rent

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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 +27.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +9.4/10.0
• Condition / age +4.0/5.0
• Livability +3.6/5.0
• Rent growth +2.0/5.0
• Schools +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS IS A MUST SEE! A SPACIOUS BEDROOMS WITH AMPLE CLOSET SPACE, AND A LARGE BATHROOM. OPEN KITCHEN AREA. This beautiful two bedroom second floor unit has been fully updated with a new kitchen, updated bathroom, new flooring and paint throughout and new appliances! The unit includes an assigned carport parking space, basement storage & shared laundry for the building. You have quick access to shopping, dining and entertainment being close to 696 & Telegraph. Water and Heat are included in you Association Dues. COMMON LAUNDRY AREA IN BASEMENT WITH LARGE STORAGE SPACE. SECURED ENTRANCE.

Key facts

• $439 HOA
• Garage
• Built 1967

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $80k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $225 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.7% vs local median 4.9% 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: health & safety D, crime F, amenities 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.
• Zoned schools: Glenn W Levey Middle School (math 8% / reading 22%, grade F, #453 of 493 statewide, top 93%, 316 students, 62% FRL).
• Zoned-school proficiency averages 15% at this address vs 27% district-wide (-12 pts) — the specific schools serving this property underperform the Southfield Public School District average; the district grade overstates school quality for this exact location.
• Market conditions: Rents soft (-2.0%/yr); 63 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 55d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 70% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent runs 30% of the median local income ($61k/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 $553 of loan paydown is wiped out by about $2k 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 182 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.

Recommended offer $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 182 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
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 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: 1.92% ✓
• Cap rate: 9.66%
• Cash-on-cash: 12.04%
• DSCR: 1.54
• GRM: 4.3

CMA / ARV

• ARV (median comp): $107,815
• List price: $80,000
• Delta: -25.80%
• Verdict: UNDERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
20090 Salem St	0.44mi	3/1.0 (+1)	1,720 (+12%)	1mo	$57,800	$34	54
20804 Rensselaer St	1.41mi	3/2.0 (+1)	1,548 (+0%)	2mo	$235,000	$152	54
23591 Norcrest Dr	1.11mi	3/1.0 (+1)	1,476 (-4%)	2mo	$178,000	$121	52
19917 Denby	1.23mi	3/1.0 (+1)	1,652 (+7%)	1mo	$149,900	$91	47
19551 Five Points St	0.69mi	3/1.0 (+1)	1,200 (-22%)	2mo	$185,000	$154	36
19394 Riverview St	1.11mi	3/1.0 (+1)	1,916 (+24%)	0mo	$100,000	$52	35
18641 Sumner	1.33mi	3/1.0 (+1)	1,909 (+24%)	1mo	$150,000	$79	34
18919 Woodbine St	1.34mi	3/1.0 (+1)	1,226 (-20%)	2mo	$110,000	$90	34
19310 Centralia	1.06mi	3/1.5 (+1)	1,880 (+22%)	1mo	$193,000	$103	32
18689 Five Points St	1.27mi	3/1.5 (+1)	1,202 (-22%)	2mo	$199,000	$166	32
20504 Gaylord	0.95mi	3/2.0 (+1)	1,882 (+22%)	0mo	$200,500	$107	31
19363 Appleton St	1.15mi	3/2.0 (+1)	1,824 (+18%)	0mo	$125,000	$69	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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -3.6%
• Equity multiple: 0.87×
• Total profit: $-2,874
• Equity at exit: $11,928

10-year hold

• IRR: -0.3%
• Equity multiple: 0.99×
• Total profit: $-327
• Equity at exit: $6,917

Cash invested: $22,400 (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 48033

• Rents YoY: -2.0%
• Active inventory: 63
• Price-to-rent: 4.3×

Monthly cashflow live

• Estimated rent: $1,540 high
• Mortgage (P&I): −$420
• Tax est. 1.5%: −$100 /mo · $1,200/yr
• Insurance: −$33
• HOA: −$439
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $225

Break-even live

Break-even rent $1,256

Max offer price $80,000

Occupancy floor 80%

Sensitivity live

Price	-10% $280	-5% $252	+0% $225	+5% $197	+10% $169
Rent	-10% $103	-5% $164	+0% $225	+5% $286	+10% $346
Rate	-1.0pp $265	-0.5pp $245	base $225	+0.5pp $204	+1.0pp $183

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: $20,000
• Closing costs: $2,400
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
21885 Maplewood Dr Southfield, MI	3.0	2.0	2099	$7,000	$3.33	0d	1	0.78mi
19948 Wakenden Redford, MI	3.0	1.0	1600	$1,700	$1.06	0d	1	0.81mi
20017 Woodworth Redford, MI	3.0	1.0	1080	$1,650	$1.53	32d	1	0.86mi
22419 Fairway Dr Southfield, MI	3.0	1.0	1262	$1,850	$1.47	120d	1	1.22mi
18720 Salem St Detroit, MI	3.0	1.0	2193	$2,000	$0.91	2d	1	1.27mi
18676 Brady Redford, MI	3.0	1.0	1200	$1,500	$1.25	54d	1	1.30mi
19132 Appleton St Detroit, MI	1.0–2.0	1.0	1025	$1,100	$1.07	74d	1	1.35mi
19010 Riverview St Detroit, MI	3.0	1.0	1262	$1,300	$1.03	64d	1	1.39mi
18428 Brady Redford, MI	2.0	1.0	1058	$1,300	$1.23	78d	1	1.47mi
19392 Negaunee Redford, MI	3.0	1.0	1200	$1,400	$1.17	44d	1	1.50mi

HOA detail $439/mo · $5,268/yr condo

• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-09-24
   days on market $80,000 Active 182 DOM
2. 2026-09-23
   days on market $80,000 Active 181 DOM
3. 2026-09-22
   days on market $80,000 Active 180 DOM
4. 2026-09-21
   days on market $80,000 Active 179 DOM
5. 2026-09-20
   days on market $80,000 Active 178 DOM
6. 2026-09-19
   days on market $80,000 Active 177 DOM
7. 2026-09-18
   days on market $80,000 Active 176 DOM
8. 2026-09-17
   days on market $80,000 Active 175 DOM
9. 2026-09-16
   days on market $80,000 Active 174 DOM
10. 2026-09-15
    days on market $80,000 Active 173 DOM
11. 2026-09-14
    days on market $80,000 Active 172 DOM
12. 2026-09-13
    days on market $80,000 Active 171 DOM
13. 2026-09-12
    days on market $80,000 Active 170 DOM
14. 2026-09-11
    days on market $80,000 Active 169 DOM
15. 2026-09-05
    days on market $80,000 Active 163 DOM
16. 2026-09-04
    days on market $80,000 Active 162 DOM
17. 2026-09-03
    days on market $80,000 Active 161 DOM
18. 2026-08-31
    days on market $80,000 Active 158 DOM
19. 2026-08-30
    days on market $80,000 Active 157 DOM
20. 2026-08-29
    days on market $80,000 Active 156 DOM
21. 2026-08-28
    days on market $80,000 Active 155 DOM
22. 2026-08-27
    days on market $80,000 Active 154 DOM
23. 2026-08-26
    days on market $80,000 Active 153 DOM
24. 2026-08-25
    days on market $80,000 Active 152 DOM
25. 2026-08-24
    days on market $80,000 Active 151 DOM
26. 2026-08-23
    days on market $80,000 Active 150 DOM
27. 2026-08-22
    days on market $80,000 Active 149 DOM
28. 2026-08-21
    days on market $80,000 Active 148 DOM
29. 2026-08-20
    days on market $80,000 Active 147 DOM
30. 2026-08-19
    days on market $80,000 Active 146 DOM
31. 2026-08-18
    days on market $80,000 Active 145 DOM
32. 2026-08-17
    days on market $80,000 Active 144 DOM
33. 2026-08-16
    days on market $80,000 Active 143 DOM
34. 2026-08-15
    days on market $80,000 Active 142 DOM
35. 2026-08-14
    days on market $80,000 Active 141 DOM
36. 2026-08-13
    days on market $80,000 Active 140 DOM
37. 2026-08-12
    days on market $80,000 Active 139 DOM
38. 2026-08-11
    days on market $80,000 Active 138 DOM
39. 2026-08-10
    days on market $80,000 Active 137 DOM
40. 2026-08-09
    days on market $80,000 Active 136 DOM
41. 2026-08-08
    days on market $80,000 Active 135 DOM
42. 2026-08-06
    days on market $80,000 Active 133 DOM
43. 2026-08-05
    days on market $80,000 Active 132 DOM
44. 2026-08-04
    days on market $80,000 Active 131 DOM
45. 2026-08-03
    days on market $80,000 Active 130 DOM
46. 2026-07-31
    days on market $80,000 Active 127 DOM
47. 2026-07-30
    days on market $80,000 Active 125 DOM
48. 2026-07-28
    days on market $80,000 Active 124 DOM
49. 2026-07-26
    days on market $80,000 Active 122 DOM
50. 2026-07-24
    days on market $80,000 Active 120 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥98°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: $18,479
• − Mortgage interest: −$4,481
• − Property taxes: −$1,200
• − Insurance: −$400
• − Repairs & maintenance: −$1,478
• − Management: −$1,478
• − HOA: −$5,268
• − Depreciation: −$2,327
• Taxable income: $1,846
• Est. tax owed @ 24.0%: −$443
• After-tax cash flow: $2,253/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.

Condition & rehab AI · 12 photos

Good 80/100 Cosmetic rehab Est. rehab $7,700–$23,100 screening

This fully updated two-bedroom condo is move-in ready with new kitchen, appliances, and flooring. It offers ample closet space and a large bathroom. The location is convenient to shopping, dining, and entertainment.

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and resale value ↑
• Both Landscaping — Improves curb appeal and rental value ↑
• Both Replace carpet — Fresh carpet improves comfort and resale value ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 15/100

Zoned Schools

Middle Glenn W Levey Middle School F MI #453/493 Nat'l #12,693/14,009

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

B Composite livability gradescore 72/100

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 · 1,335,747 people
• City population: 54,914
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 17,277
• Household income: $61,016
• Rent vs Own: 48.1% rent · 51.9% own
• Severe rent burden: 9% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Black (68%)
• Race & ethnicity: Black 68% White 24% Two or more races 6% Asian 2% Hispanic / Latino 1%
• Common ancestry: Romanian 3% Scotch-Irish 1% Slovak 1%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 1% Arabic 1% Russian/Polish/Slavic 1%

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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: ▼ -175.44%
• Current HPI: 187.5011
• Rent YoY: ▼ -1.96%
• Metro: Detroit-Warren-Dearborn, MI
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

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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

1 event — show timeline

• 2026-03-26 Listed $90,000 MiRealSource-MiMLS