877 Kirts Blvd · Troy, MI 48084 4857

$249,900

2 bd · 2.5 ba · 1,850 sqft · Condo public records · 1 Days on market

Built 1973 $350/mo HOA · 13% of rent

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Why this score? — see what drove the C 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 +17.5/30.0
• ARV discount +7.5/15.0
• Schools +6.5/10.0
• 1% rule +5.6/10.0
• DSCR +5.4/10.0
• Appreciation +5.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

SPECTACULAR CONDO IN AWSOME LOCATION FOR EASYACCES TO I-75. HOME HAS 2 VERY SPACIOUS BD RMS. BOTH INCL. PRIVATE BTH RMS. FIN. BSMNT. UPDATESINCLUDE:A/C-99,HWTH-00,NEWER CARP. THROUGHOUT3 CEILING FANS AND APPL.

Key facts

• $350 HOA
• 2 parking spots
• Pool

Property features AI

Finance

• Other: Pets allowed; Located in the city of Troy (Courtwood Villa subdivision); Directions: South of Big Beaver, between Crooks and Livernois
• HOA & community: Monthly association fee of $350; Association covers lawn maintenance, snow removal, trash removal, water/sewer, exterior maintenance; Community clubhouse available; Association phone available

Exterior

• Parking: Carport; Space for 2 vehicles
• Utilities: Public water; Public sewer (included in association fee); Electric service (standard); Natural gas
• Home design: Condominium; 2-story structure; Built in 1973
• Construction: Basement foundation
• Exterior features: Brick and wood exterior; Fenced yard; Patio; Private paved road access; Outdoor pool on property

Interior

• Kitchen: Entry-level kitchen (16 x 7) with ceramic flooring; Includes dishwasher, microwave, refrigerator
• Bedrooms: Primary bedroom on second floor (15 x 14) with carpet; Second bedroom on second floor (15 x 11) with carpet
• Flooring: Carpet in family room and living room; Carpet in bedrooms; Ceramic flooring in kitchen and bathrooms
• Bathrooms: Two full bathrooms (both on second floor) and one entry-level lavatory; Ceramic flooring in bathrooms and lavatory
• Heating & cooling: Forced air heating; Natural gas fuel; Central air conditioning and ceiling fans; Gas water heater
• Interior features: Total of 8 rooms; Finished basement
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $250k.

Deal economics

• At list price, monthly cash flow is $-270 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $202k (19.1% below list).
• Meets the 1% rule at list price ($3k rent vs $250k).
• Recommended offer: $202k (19.1% below list) — sets the bar for cash-flow.
• Cap rate 7.2% vs local median 3.6% in Troy — 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 78/100 on livability (#113 in MI, #2,684 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, crime A; Watch: health & safety D+, amenities F, commute F.
• Troy School District (urban): math 68% / reading 75% proficiency, ranked #8 of 540 in MI (top 2%) — strong family-tenant draw, lease renewals of 3-5y typical; only 10% free/reduced lunch — higher-income household profile.
• Zoned schools: Morse Elementary School (math 42% / reading 42%, grade F, #547 of 1,397 statewide, top 41%, 405 students, 42% FRL); Baker Middle School (math 65% / reading 83%, grade A, #17 of 493 statewide, top 3%, 626 students, 26% FRL); Troy High School (math 77% / reading 87%, grade A, #4 of 713 statewide, top 1%, 2,094 students, 13% FRL) — zoned schools average 27% FRL vs 10% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 1 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($2k loan paydown + $7k appreciation (3.0% local appreciation)).
• Oakland County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $150k; list at $250k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $460/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $202,119 (19.1% 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's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.06% ✓
• Cap rate: 7.21%
• Cash-on-cash: 3.26%
• DSCR: 1.14
• GRM: 7.9

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: 3.3%
• Equity multiple: 1.19×
• Total profit: $13,302
• Equity at exit: $112,366

10-year hold

• IRR: 6.7%
• Equity multiple: 2.03×
• Total profit: $72,119
• Equity at exit: $173,169

Cash invested: $69,972 (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 48084 4857

• Active inventory: 1
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $2,637 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$128 /mo · $1,541/yr
• Insurance: −$104
• Flood insurance flood zone: −$460 /mo · $5,525/yr
• HOA: −$350
• Vacancy / Maint / Mgmt: −$554
• Net cashflow: $-270

Break-even live

Break-even rent $2,979

Max offer price $202,119

Occupancy floor —

Sensitivity live

Price	-10% $-129	-5% $-200	+0% $-270	+5% $-341	+10% $-412
Rent	-10% $-479	-5% $-375	+0% $-270	+5% $-166	+10% $-62
Rate	-1.0pp $-145	-0.5pp $-207	base $-270	+0.5pp $-335	+1.0pp $-401

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2690 Crooks Rd Troy, MI	1.0–2.0	1.0–2.0	1259	$2,635	$2.09	0d	1	0.38mi
2751 Melcombe Cir Troy, MI	1.0–3.0	1.0–2.5	1687	$2,644	$1.57	0d	31	0.62mi
1911 Golfview Dr Troy, MI	1.0–3.0	1.0–2.0	1300	$1,910	$1.47	0d	18	0.66mi
2845 Summers Pl Troy, MI	3.0	2.5	1665	$3,600	$2.16	45d	1	0.70mi
173 Algansee Dr Troy, MI	3.0	2.0	1290	$2,200	$1.71	19d	1	0.83mi
3165 Alpine Rd Troy, MI	3.0	1.5	2154	$2,300	$1.07	26d	1	1.01mi
3668 Old Creek Rd Unit 0 Troy, MI	3.0	3.0	1600	$2,700	$1.69	26d	1	1.08mi
3965 Westcreek Dr Troy, MI	2.0	2.0	1150	$2,360	$2.05	4d	6	1.38mi
1976 Ridge Ct Royal Oak, MI	2.0	1.5	1929	$2,500	$1.30	3d	1	1.40mi
516 N Main St Clawson, MI	2.0	2.0	1515	$2,986	$1.97	0d	1	1.45mi
710 Hartland Dr Troy, MI	3.0	2.0	1760	$2,875	$1.63	7d	1	1.49mi

HOA detail condo

• Monthly dues: $350 · $4,200/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-06-08
   remarks 691-char remark
2. 2026-06-08
   listed $249,900 Coming Soon 1 DOM

ⓘ 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: $1,541 · $128/mo
• Projected year-2 tax: $2,695 · $225/mo
• Expected delta: +$1,154/yr (+$96/mo · 74.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone AE · 72% 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 · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,640
• − Mortgage interest: −$13,998
• − Property taxes: −$1,541
• − Insurance: −$6,775
• − Repairs & maintenance: −$2,531
• − Management: −$2,531
• − HOA: −$4,200
• − Depreciation: −$7,270
• Taxable loss: −$7,206
• Est. tax savings @ 24.0%: +$1,729
• After-tax cash flow: $-1,516/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: Troy School District
• NCES district ID: 2634260
• Math proficiency: 68% ▼ -3.00%
• Reading proficiency: 75% ▼ -2.00%
• Median HH income: $90,920
• Composite: 64.5/100
• National rank: #539
• State rank: #8 of 540 in MI

Livability — Troy

• Score: 78/100
• State rank: #113
• US rank: #2684

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Troy, MI

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+216.3% since first listed

8 events — show timeline

• 2026-06-09 Price Changed $249,900 MiRealSource-MiMLS
• 2026-06-08 Price Changed $249,900 REALCOMP
• 2026-06-08 Coming Soon $245,000 MiRealSource-MiMLS
• 2002-01-23 Sold (Public Records) $150,000 Public Records
• 2001-11-30 Sold (MLS) $150,000 MiRealSource-MiMLS
• 2001-10-29 Listing Removed — MiRealSource-MiMLS
• 2001-05-24 Listed $152,900 MiRealSource-MiMLS
• 1993-07-12 Sold (Public Records) $79,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $1,541 · +2.3% YoY. Source: county tax records.