5000 Town Center Ctr #703 · Southfield, MI 48075

$130,000

1 bd · 1.0 ba · 928 sqft · Condo public records · 39 Days on market

Built 1982 $140/sqft · 14% below area Est $151k · 14% under $499/mo HOA · 33% 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 +13.8/15.0
• Cash flow +6.8/30.0
• 1% rule +6.5/10.0
• Rent growth +4.5/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• DSCR +1.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Do you want to live in one of Southfield's unique HIGH RISE Condominiums? Located on the 7th floor, you can enjoy the luxury of full service, hotel-like hospitality with a distinctive lifestyle of COMFORT, CONVENIENCE and SECURITY. Where 75% of outside walls are windows, this unit has PANORAMIC and unobstructed city views. Newer Washer/dryer and refrigerator. The building reminds me of the sit- com Frasier! Beautifully landscaped outside grounds include heated POOL and TENNIS Courts. You could have a wonderful summer relaxing with your favorite drink POOLSIDE! Includes Fitness Center, shower and SAUNA. Underground walkway leads to assigned parking in a security-camera monitored garage. FREE maintenance and repair of heating and air conditioning. Situated on over 5 acres, the buildings curved shape was designed by Soloman Cordwell Buenz and Associates INC. This 33-story Condominium is located 15 miles northwest of downtown Detroit. Enjoy PICNIC areas equipped with grills/seating. Lovely Activity/banquet room for private functions that hold up to 100 guests. Concierge on duty and valet available 24/7. Includes snow removal and walkway care . Located near Golf courses, shopping, library, theaters and restaurants. Assistance loading and unloading vehicles and SMART bus access. This 1 bed 1.1 bath unit will not last long! Make your offer today and the Seller will offer Concessions at closing!

Key facts

• Fitness center
• Sauna
• Panoramic city views

Tags

• PANORAMIC CITY VIEWS
• HEATED POOL
• TENNIS COURTS
• FITNESS CENTER
• SAUNA
• PICNIC AREAS

Property features AI

Finance

• Other: Community amenities: pool, clubhouse, fitness center, tennis courts
• HOA & community: Homeowners association with monthly fee of $499; HOA covers grounds maintenance, structure maintenance, snow removal, trash and water; Association amenities include maintenance of grounds

Exterior

• Parking: Detached parking; Assigned parking; No garage
• Security: 24-hour security
• Utilities: Public water; Public sewer; Cable available
• Home design: Condominium; Residential property; One level; Ground-level entry
• Construction: Other construction materials
• Exterior features: Patio; Awnings; Built-in barbecue; Exterior lighting; Tennis courts; Community outdoor pool

Interior

• Kitchen: Dishwasher; Free-standing electric oven; Free-standing refrigerator; Microwave; Electric water heater
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Heating via electric, heat pump and natural gas
• Interior features: Elevator; Entrance foyer; Finished interior-access basement
• Laundry & utility: In-unit washer and dryer

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $-200 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $95k (27.2% below list).
• Meets the 1% rule at list price ($1k rent vs $130k).
• Recommended offer: $95k (27.2% below list) — sets the bar for cash-flow.

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: Morris Adler Elementary School (math 5% / reading 5%, grade F, #1,325 of 1,397 statewide, top 99%, 336 students, 67% FRL).
• Zoned-school proficiency averages 5% at this address vs 27% district-wide (-22 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 rising fast (+8.1%/yr); 95 active listings in the ZIP; 6 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

• Local home prices are declining (-3.0%/yr); year-one equity from $899 of loan paydown is wiped out by about $4k 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 39 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $94k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 33% of rent.

Recommended offer $94,630 (27.2% 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. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 27% concession, seller financing, or rate buy-down credit?
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 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?
7. 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?
8. 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?
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: 1.15% ✓
• Cap rate: 4.44%
• Cash-on-cash: -6.60%
• DSCR: 0.71
• GRM: 7.3

CMA / ARV

• ARV (median comp): $151,048
• List price: $130,000
• Delta: -13.93%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -18.8%
• Equity multiple: 0.30×
• Total profit: $-25,628
• Equity at exit: $19,383

10-year hold

• IRR: -0.5%
• Equity multiple: 0.96×
• Total profit: $-1,618
• Equity at exit: $11,240

Cash invested: $36,400 (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 48075

• Rents YoY: 8.1%
• Active inventory: 95
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,490 high
• Mortgage (P&I): −$682
• Tax from tax record: −$142 /mo · $1,706/yr
• Insurance: −$54
• HOA: −$499
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $-200

Break-even live

Break-even rent $1,743

Max offer price $94,630

Occupancy floor —

Sensitivity live

Price	-10% $-127	-5% $-163	+0% $-200	+5% $-237	+10% $-274
Rent	-10% $-318	-5% $-259	+0% $-200	+5% $-141	+10% $-83
Rate	-1.0pp $-135	-0.5pp $-167	base $-200	+0.5pp $-234	+1.0pp $-268

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5000 Town Ctr #607 Southfield, MI	1.0	1.0	900	$1,695	$1.88	19d	1	0.04mi
20300 Civic Center Dr Southfield, MI	4.0	1.0–2.0	1200	$1,529	$1.27	0d	14	0.20mi
20800 Knob Woods Dr Southfield, MI	1.0–3.0	1.0–2.5	1625	$1,375	$0.85	0d	9	0.64mi
22266 Civic Center Dr Southfield, MI	1.0–2.0	1.0–2.0	1050	$1,125	$1.07	1d	8	1.14mi
22700 Civic Center Dr Southfield, MI	1.0–2.0	1.0–2.0	1025	$1,545	$1.51	3d	1	1.23mi
22200 W Eleven Mile Rd Southfield, MI	2.0	2.0	1000	$1,250	$1.25	45d	1	1.24mi

HOA detail condo

• Monthly dues: $499 · $5,988/yr
• Likely covers: landscapingsnow removalpoolgymdoormansecurityparking
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $130,000 Active 39 DOM
2. 2026-06-18
   days on market $130,000 Active 36 DOM
3. 2026-06-17
   days on market $130,000 Active 35 DOM
4. 2026-06-16
   days on market $130,000 Active 34 DOM
5. 2026-06-15
   days on market $130,000 Active 33 DOM
6. 2026-06-13
   days on market $130,000 Active 31 DOM
7. 2026-06-13
   days on market $130,000 Active 30 DOM
8. 2026-06-09
   days on market $130,000 Active 27 DOM
9. 2026-06-08
   days on market $130,000 Active 26 DOM
10. 2026-06-07
    days on market $130,000 Active 25 DOM
11. 2026-06-04
    days on market $130,000 Active 22 DOM
12. 2026-06-03
    days on market $130,000 Active 21 DOM
13. 2026-06-02
    days on market $130,000 Active 20 DOM
14. 2026-06-01
    days on market $130,000 Active 19 DOM
15. 2026-05-31
    days on market $130,000 Active 18 DOM
16. 2026-05-13
    listed $130,000 Active 1398-char remark

    Show marketing remark (1410 chars)

    Do you want to live in one of Southfield's unique HIGH RISE Condominiums? Located on the 7th floor, you can enjoy the luxury of full service, hotel-like hospitality with a distinctive lifestyle of COMFORT, CONVENIENCE and SECURITY. Where 75% of outside walls are windows, this unit has PANORAMIC and unobstructed city views. Newer Washer/dryer and refrigerator. The building reminds me of the sit- com Frasier! Beautifully landscaped outside grounds include heated POOL and TENNIS Courts. You could have a wonderful summer relaxing with your favorite drink POOLSIDE! Includes Fitness Center, shower and SAUNA. Underground walkway leads to assigned parking in a security-camera monitored garage. FREE maintenance and repair of heating and air conditioning. Situated on over 5 acres, the buildings curved shape was designed by Soloman Cordwell Buenz and Associates INC. This 33-story Condominium is located 15 miles northwest of downtown Detroit. Enjoy PICNIC areas equipped with grills/seating. Lovely Activity/banquet room for private functions that hold up to 100 guests. Concierge on duty and valet available 24/7. Includes snow removal and walkway care . Located near Golf courses, shopping, library, theaters and restaurants. Assistance loading and unloading vehicles and SMART bus access. This 1 bed 1.1 bath unit will not last long! Make your offer today and the Seller will offer Concessions at closing!

17. 2026-05-13
    listed $130,000 Active 1394-char remark

    Show marketing remark (1410 chars)

    Do you want to live in one of Southfield's unique HIGH RISE Condominiums? Located on the 7th floor, you can enjoy the luxury of full service, hotel-like hospitality with a distinctive lifestyle of COMFORT, CONVENIENCE and SECURITY. Where 75% of outside walls are windows, this unit has PANORAMIC and unobstructed city views. Newer Washer/dryer and refrigerator. The building reminds me of the sit- com Frasier! Beautifully landscaped outside grounds include heated POOL and TENNIS Courts. You could have a wonderful summer relaxing with your favorite drink POOLSIDE! Includes Fitness Center, shower and SAUNA. Underground walkway leads to assigned parking in a security-camera monitored garage. FREE maintenance and repair of heating and air conditioning. Situated on over 5 acres, the buildings curved shape was designed by Soloman Cordwell Buenz and Associates INC. This 33-story Condominium is located 15 miles northwest of downtown Detroit. Enjoy PICNIC areas equipped with grills/seating. Lovely Activity/banquet room for private functions that hold up to 100 guests. Concierge on duty and valet available 24/7. Includes snow removal and walkway care . Located near Golf courses, shopping, library, theaters and restaurants. Assistance loading and unloading vehicles and SMART bus access. This 1 bed 1.1 bath unit will not last long! Make your offer today and the Seller will offer Concessions at closing!

18. 1998-08-20
    soldstatus $94,000

ⓘ 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: $1,706 · $142/mo
• Projected year-2 tax: $1,854 · $155/mo
• Expected delta: +$148/yr (+$12/mo · 8.7%)

ⓘ 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 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,877
• − Mortgage interest: −$7,282
• − Property taxes: −$1,706
• − Insurance: −$650
• − Repairs & maintenance: −$1,430
• − Management: −$1,430
• − HOA: −$5,988
• − Depreciation: −$3,782
• Taxable loss: −$4,392
• Est. tax savings @ 24.0%: +$1,054
• After-tax cash flow: $-1,349/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): 22,841
• Household income: $65,384
• Rent vs Own: 38.4% rent · 61.6% own
• Severe rent burden: 1336.0

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: Majority Black (65%)
• Race & ethnicity: Black 65% White 26% Two or more races 7% Hispanic / Latino 1%
• Common ancestry: Romanian 2% Scotch-Irish 2% Subsaharan African 1%
• Foreign-born: 4% · Canada
• Languages at home: 94% English-only · Russian/Polish/Slavic 1% Spanish 1% German/W. Germanic 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: ▼ -209.20%
• Current HPI: 190.3275
• Rent YoY: ▲ 8.06%
• 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

+38.3% since first listed

3 events — show timeline

• 2026-05-13 Listed $130,000 MiRealSource-MiMLS
• 2026-05-13 Listed $130,000 REALCOMP
• 1998-08-20 Sold (Public Records) $94,000 Public Records

Property tax history

+1.8%/yr

Latest (2025): $1,706 · +0.9% YoY. Source: county tax records.