21377 Concord St · Southfield, MI 48076

$274,900

4 bd · 2.5 ba · 1,858 sqft · SingleFamily public records · 4 Days on market

Built 1963 0.25 ac lot Est $232k · 18% over $3/mo HOA

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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 +19.2/30.0
• DSCR +6.1/10.0
• 1% rule +5.0/10.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to beautiful and sought after Evergreen Glen with lots of trees and easy access to major highways, shopping and parks. This colonial-style residence is filled with charm and classic details throughout. From the moment you step inside, you'll fall in love with the stunning hardwood floors that flow throughout the home, adding beauty and character to every room. The bright white kitchen offers ample cabinetry and pantry space. Vintage lovers will appreciate the home's original tile work, preserved in excellent condition and full of timeless appeal. Step outside to a spacious private backyard ideal for summer gatherings. The large screened-in patio provides the perfect place to enjoy morning coffee or dinners while taking in the outdoors. The 4th upstairs bedroom has been turned into open flex space to use for so many different things! Primary bedroom has walk in closet. This great house is ready for your updates and personal touches at a value you don't want to pass up.

Key facts

• Original tile work
• Bright white kitchen
• Private backyard

Tags

• HARDWOOD FLOORS
• BRIGHT WHITE KITCHEN
• ORIGINAL TILE WORK
• PRIVATE BACKYARD
• SCREENED-IN PATIO
• OPEN FLEX SPACE

Property features AI

Finance

• Other: Living area approximately 1,858
• HOA & community: Association fee: $3.00 monthly

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Electricity available; Natural gas available and connected; Natural gas water heater
• Home design: Colonial-style single family residence; Built in 1963; Paved road access
• Construction: Aluminum siding and brick exterior; Asphalt roof; Crawl space and full basement
• Exterior features: Sidewalk; Shed(s)

Interior

• Kitchen: Oven; Range; Refrigerator
• Bedrooms: Total rooms: 10
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating; Central cooling (has cooling)
• Interior features: Garage door opener; Eat-in kitchen; Pantry; Wood-burning fireplace; Storm windows
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $275k.

Deal economics

• At list price, monthly cash flow is $299 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $275k (0.0% below list).
• Recommended offer: $275k (0.0% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 4.4% 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 (+4.8%/yr); 93 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent runs 37% of the median local income ($90k/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 $2k of loan paydown is wiped out by about $8k 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 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 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 $274,848

Questions for the listing agent

1. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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?
5. 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?
6. 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?
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: 1.00% ✗
• Cap rate: 7.60%
• Cash-on-cash: 4.66%
• DSCR: 1.21
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $232,250
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
21377 Concord St	0.00mi	3/2.5 (-1)	1,858 (0%)	0mo	$283,000	$152	95
21289 Concord St	0.04mi	4/2.5	1,927 (+4%)	6mo	$302,000	$157	87
21505 N Tuller Ct	0.11mi	3/2.0 (-1)	1,765 (-5%)	10mo	$280,000	$159	71
27270 Devonshire St	0.27mi	4/2.5	2,095 (+13%)	6mo	$345,000	$165	61
21901 Concord St	0.28mi	3/1.5 (-1)	2,132 (+15%)	7mo	$245,000	$115	48
20385 Harbor Ln	0.52mi	3/1.5 (-1)	2,050 (+10%)	4mo	$249,900	$122	46
20345 Harbor Ln	0.54mi	3/1.5 (-1)	2,080 (+12%)	6mo	$260,000	$125	40
20195 Ledgestone St	0.60mi	3/1.5 (-1)	2,059 (+11%)	9mo	$302,000	$147	38
28421 Tapert Dr	0.67mi	3/1.5 (-1)	1,996 (+7%)	12mo	$246,000	$123	37
22903 N Bellwood Dr	0.72mi	3/2.0 (-1)	2,103 (+13%)	2mo	$215,000	$102	36
27900 E Larkmoor St	0.70mi	3/1.5 (-1)	2,132 (+15%)	4mo	$237,000	$111	30
20225 Ledgestone St	0.59mi	3/1.5 (-1)	2,132 (+15%)	12mo	$235,000	$110	29

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 · 4.84% rent growth · sell at horizon

5-year hold

• IRR: -7.0%
• Equity multiple: 0.74×
• Total profit: $-20,291
• Equity at exit: $40,988

10-year hold

• IRR: 4.7%
• Equity multiple: 1.38×
• Total profit: $29,037
• Equity at exit: $23,768

Cash invested: $76,972 (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 48076

• Rents YoY: 4.8%
• Active inventory: 93
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,748 high
• Mortgage (P&I): −$1,442
• Tax from tax record: −$313 /mo · $3,757/yr
• Insurance: −$115
• HOA: −$3
• Vacancy / Maint / Mgmt: −$577
• Net cashflow: $299

Break-even live

Break-even rent $2,370

Max offer price $274,900

Occupancy floor 84%

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: $68,725
• Closing costs: $8,247
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
27345 Harvard Rd Southfield, MI	4.0	2.5	2500	$3,495	$1.40	12d	1	0.32mi
20800 Knob Woods Dr Southfield, MI	1.0–3.0	1.0–2.5	1625	$2,515	$1.55	1d	9	0.44mi
20300 Civic Center Dr Southfield, MI	4.0	1.0–2.0	1200	$2,215	$1.85	1d	12	0.87mi
25582 Saint James Southfield, MI	3.0	2.5	1539	$2,600	$1.69	24d	1	1.16mi
25582 Saint James Southfield, MI	3.0	2.5	1539	$2,600	$1.69	21d	1	1.16mi

HOA detail

• Monthly dues: $3 · $36/yr

Listing history 7 events

1. 2026-06-13
   listing id $274,900 Pending 4 DOM
2. 2026-05-13
   status Pending 990-char remark

   Show marketing remark (990 chars)

   Welcome to beautiful and sought after Evergreen Glen with lots of trees and easy access to major highways, shopping and parks. This colonial-style residence is filled with charm and classic details throughout. From the moment you step inside, you'll fall in love with the stunning hardwood floors that flow throughout the home, adding beauty and character to every room. The bright white kitchen offers ample cabinetry and pantry space. Vintage lovers will appreciate the home's original tile work, preserved in excellent condition and full of timeless appeal. Step outside to a spacious private backyard ideal for summer gatherings. The large screened-in patio provides the perfect place to enjoy morning coffee or dinners while taking in the outdoors. The 4th upstairs bedroom has been turned into open flex space to use for so many different things! Primary bedroom has walk in closet. This great house is ready for your updates and personal touches at a value you don't want to pass up.

3. 2026-05-13
   status Pending 990-char remark

   Show marketing remark (990 chars)

   Welcome to beautiful and sought after Evergreen Glen with lots of trees and easy access to major highways, shopping and parks. This colonial-style residence is filled with charm and classic details throughout. From the moment you step inside, you'll fall in love with the stunning hardwood floors that flow throughout the home, adding beauty and character to every room. The bright white kitchen offers ample cabinetry and pantry space. Vintage lovers will appreciate the home's original tile work, preserved in excellent condition and full of timeless appeal. Step outside to a spacious private backyard ideal for summer gatherings. The large screened-in patio provides the perfect place to enjoy morning coffee or dinners while taking in the outdoors. The 4th upstairs bedroom has been turned into open flex space to use for so many different things! Primary bedroom has walk in closet. This great house is ready for your updates and personal touches at a value you don't want to pass up.

4. 2026-05-13
   status Pending

   Show marketing remark (990 chars)

   Welcome to beautiful and sought after Evergreen Glen with lots of trees and easy access to major highways, shopping and parks. This colonial-style residence is filled with charm and classic details throughout. From the moment you step inside, you'll fall in love with the stunning hardwood floors that flow throughout the home, adding beauty and character to every room. The bright white kitchen offers ample cabinetry and pantry space. Vintage lovers will appreciate the home's original tile work, preserved in excellent condition and full of timeless appeal. Step outside to a spacious private backyard ideal for summer gatherings. The large screened-in patio provides the perfect place to enjoy morning coffee or dinners while taking in the outdoors. The 4th upstairs bedroom has been turned into open flex space to use for so many different things! Primary bedroom has walk in closet. This great house is ready for your updates and personal touches at a value you don't want to pass up.

5. 2026-05-10
   listed $274,900 Active 990-char remark

   Show marketing remark (990 chars)

   Welcome to beautiful and sought after Evergreen Glen with lots of trees and easy access to major highways, shopping and parks. This colonial-style residence is filled with charm and classic details throughout. From the moment you step inside, you'll fall in love with the stunning hardwood floors that flow throughout the home, adding beauty and character to every room. The bright white kitchen offers ample cabinetry and pantry space. Vintage lovers will appreciate the home's original tile work, preserved in excellent condition and full of timeless appeal. Step outside to a spacious private backyard ideal for summer gatherings. The large screened-in patio provides the perfect place to enjoy morning coffee or dinners while taking in the outdoors. The 4th upstairs bedroom has been turned into open flex space to use for so many different things! Primary bedroom has walk in closet. This great house is ready for your updates and personal touches at a value you don't want to pass up.

6. 2026-05-10
   listed $274,900 Active

   Show marketing remark (990 chars)

   Welcome to beautiful and sought after Evergreen Glen with lots of trees and easy access to major highways, shopping and parks. This colonial-style residence is filled with charm and classic details throughout. From the moment you step inside, you'll fall in love with the stunning hardwood floors that flow throughout the home, adding beauty and character to every room. The bright white kitchen offers ample cabinetry and pantry space. Vintage lovers will appreciate the home's original tile work, preserved in excellent condition and full of timeless appeal. Step outside to a spacious private backyard ideal for summer gatherings. The large screened-in patio provides the perfect place to enjoy morning coffee or dinners while taking in the outdoors. The 4th upstairs bedroom has been turned into open flex space to use for so many different things! Primary bedroom has walk in closet. This great house is ready for your updates and personal touches at a value you don't want to pass up.

7. 2026-05-10
   listed $274,900 Active 990-char remark

   Show marketing remark (990 chars)

   Welcome to beautiful and sought after Evergreen Glen with lots of trees and easy access to major highways, shopping and parks. This colonial-style residence is filled with charm and classic details throughout. From the moment you step inside, you'll fall in love with the stunning hardwood floors that flow throughout the home, adding beauty and character to every room. The bright white kitchen offers ample cabinetry and pantry space. Vintage lovers will appreciate the home's original tile work, preserved in excellent condition and full of timeless appeal. Step outside to a spacious private backyard ideal for summer gatherings. The large screened-in patio provides the perfect place to enjoy morning coffee or dinners while taking in the outdoors. The 4th upstairs bedroom has been turned into open flex space to use for so many different things! Primary bedroom has walk in closet. This great house is ready for your updates and personal touches at a value you don't want to pass up.

ⓘ 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: $3,757 · $313/mo
• Projected year-2 tax: $3,995 · $333/mo
• Expected delta: +$238/yr (+$20/mo · 6.3%)

ⓘ 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 ≥98°F today · 14 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: $32,982
• − Mortgage interest: −$15,399
• − Property taxes: −$3,757
• − Insurance: −$1,374
• − Repairs & maintenance: −$2,639
• − Management: −$2,639
• − HOA: −$36
• − Depreciation: −$7,997
• Taxable loss: −$858
• Est. tax savings @ 24.0%: +$206
• After-tax cash flow: $3,795/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): 25,405
• Household income: $90,058
• Rent vs Own: 26.4% rent · 73.6% own
• Severe rent burden: 607.0

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 0.57)
• Race & ethnicity: Black 57% White 32% Two or more races 7% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 3% Slovak 1% Scotch-Irish 1%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 90% English-only · Spanish 3% Arabic 2% Russian/Polish/Slavic 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: ▼ -192.13%
• Current HPI: 229.2304
• Rent YoY: ▲ 4.84%
• 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

+0.0% since first listed

6 events — show timeline

• 2026-05-13 Pending — MiRealSource-MiMLS
• 2026-05-13 Pending — REALCOMP
• 2026-05-13 Pending — SW Michigan MLS
• 2026-05-10 Listed $274,900 SW Michigan MLS
• 2026-05-10 Listed $274,900 MiRealSource-MiMLS
• 2026-05-10 Listed $274,900 REALCOMP

Property tax history

+1.8%/yr

Latest (2025): $3,757 · +1.0% YoY. Source: county tax records.