19830 W TWELVE MILE Rd #31 · Southfield, MI 48076 2545

$25,000

2 bd · 1.0 ba · 886 sqft · Condo public records

Built 1967 $225/mo HOA · 13% of rent ↓ 50% since listing

---

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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Appreciation +5.0/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0

Listing remarks MLS

2 Bedrooms, 2 Baths, Bright Kitchen, Dining Area, Walk To Swimming Pool, Shopping Plaza, Banking Auto Needs, Etc. Near Expressways, Ideally Located For All Comfortable. Requirements. Must show proof of funds.

Key facts

• $225 HOA
• Pool
• Built 1967

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $25k.

Deal economics

• At list price, monthly cash flow is $950 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $25k).
• Cap rate 51.9% 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: 1 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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 $923 of equity ($173 loan paydown + $750 appreciation (3.0% local appreciation)).
• Oakland County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (3.0% appreciation + 3.0% rent growth), your $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 29y 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.

Recommended offer $25,000

Questions for the listing agent

1. Built in 1967 — 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. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 6.83% ✓
• Cap rate: 51.91%
• Cash-on-cash: 162.92%
• DSCR: 8.25
• GRM: 1.2

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: —
• Equity multiple: 10.10×
• Total profit: $63,706
• Equity at exit: $11,241

10-year hold

• IRR: —
• Equity multiple: 21.31×
• Total profit: $142,185
• Equity at exit: $17,324

Cash invested: $7,000 (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 2545

• Active inventory: 1
• Price-to-rent: 1.2×

Monthly cashflow live

• Estimated rent: $1,707 high
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $375/yr
• Insurance: −$10
• HOA: −$225
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $950

Break-even live

Break-even rent $504

Max offer price $25,000

Occupancy floor 39%

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: $6,250
• Closing costs: $750
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18248 W 12 Mile Rd Southfield, MI	1.0–2.0	1.0–2.0	902	$2,254	$2.50	1d	1	0.78mi
18333 South Dr Southfield, MI	1.0–2.0	1.0–2.0	1044	$1,875	$1.80	1d	6	0.91mi
21890 Colony Park Cir Southfield, MI	1.0–2.0	1.0–2.0	1155	$1,710	$1.48	2d	5	1.05mi
30268 Southfield Rd #230 Southfield, MI	2.0	2.0	956	$1,450	$1.52	43d	1	1.08mi
30276 Southfield Rd Unit 215 Southfield, MI	2.0	2.0	956	$1,399	$1.46	19d	1	1.10mi
18335 W 13 Mile Rd Southfield, MI	2.0	2.0	825	$1,858	$2.25	1d	9	1.10mi
31065 Huntley Sq W Beverly Hills, MI	2.0–3.0	1.5–2.0	1375	$1,465	$1.07	2d	7	1.21mi
30300 Southfield Rd Southfield, MI	1.0	1.0	1100	$1,445	$1.31	2d	2	1.22mi
22277 W 12 Mile Rd Southfield, MI	1.0	1.0	850	$1,329	$1.56	10d	3	1.24mi
20800 Knob Woods Dr Southfield, MI	1.0–3.0	1.0–2.5	1625	$1,945	$1.20	1d	9	1.37mi

HOA detail condo

• Monthly dues: $225 · $2,700/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2025-06-27
   status Pending 208-char remark

   Show marketing remark (208 chars)

   2 Bedrooms, 2 Baths, Bright Kitchen, Dining Area, Walk To Swimming Pool, Shopping Plaza, Banking Auto Needs, Etc. Near Expressways, Ideally Located For All Comfortable. Requirements. Must show proof of funds.

2. 2025-06-05
   status Pending 208-char remark

   Show marketing remark (208 chars)

   2 Bedrooms, 2 Baths, Bright Kitchen, Dining Area, Walk To Swimming Pool, Shopping Plaza, Banking Auto Needs, Etc. Near Expressways, Ideally Located For All Comfortable. Requirements. Must show proof of funds.

3. 2025-06-04
   status Pending 208-char remark

   Show marketing remark (208 chars)

   2 Bedrooms, 2 Baths, Bright Kitchen, Dining Area, Walk To Swimming Pool, Shopping Plaza, Banking Auto Needs, Etc. Near Expressways, Ideally Located For All Comfortable. Requirements. Must show proof of funds.

4. 2024-12-18
   historical 208-char remark

   Show marketing remark (208 chars)

   2 Bedrooms, 2 Baths, Bright Kitchen, Dining Area, Walk To Swimming Pool, Shopping Plaza, Banking Auto Needs, Etc. Near Expressways, Ideally Located For All Comfortable. Requirements. Must show proof of funds.

5. 2014-11-15
   historical 208-char remark

   Show marketing remark (208 chars)

   2 Bedrooms, 2 Baths, Bright Kitchen, Dining Area, Walk To Swimming Pool, Shopping Plaza, Banking Auto Needs, Etc. Near Expressways, Ideally Located For All Comfortable. Requirements. Must show proof of funds.

6. 2014-11-15
   historical 208-char remark

   Show marketing remark (208 chars)

   2 Bedrooms, 2 Baths, Bright Kitchen, Dining Area, Walk To Swimming Pool, Shopping Plaza, Banking Auto Needs, Etc. Near Expressways, Ideally Located For All Comfortable. Requirements. Must show proof of funds.

7. 2014-11-15
   historical

   Show marketing remark (208 chars)

   2 Bedrooms, 2 Baths, Bright Kitchen, Dining Area, Walk To Swimming Pool, Shopping Plaza, Banking Auto Needs, Etc. Near Expressways, Ideally Located For All Comfortable. Requirements. Must show proof of funds.

8. 2014-11-09
   listed $25,000 208-char remark

   Show marketing remark (208 chars)

   2 Bedrooms, 2 Baths, Bright Kitchen, Dining Area, Walk To Swimming Pool, Shopping Plaza, Banking Auto Needs, Etc. Near Expressways, Ideally Located For All Comfortable. Requirements. Must show proof of funds.

9. 2014-11-09
   listed $25,000

   Show marketing remark (208 chars)

   2 Bedrooms, 2 Baths, Bright Kitchen, Dining Area, Walk To Swimming Pool, Shopping Plaza, Banking Auto Needs, Etc. Near Expressways, Ideally Located For All Comfortable. Requirements. Must show proof of funds.

10. 2001-08-28
    soldstatus $77,500
11. 2001-06-25
    soldstatus $77,500
12. 2001-02-25
    listed $79,900
13. 1998-08-20
    historical
14. 1998-05-27
    listed $64,000
15. 1998-05-22
    soldstatus $60,000
16. 1998-05-12
    soldstatus $60,000
17. 1998-01-08
    listed $64,900
18. 1997-11-24
    historical
19. 1997-08-20
    listed $69,900
20. 1994-08-25
    soldstatus $50,000

ⓘ 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 2/10 Low 7 d/yr ≥98°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: $20,478
• − Mortgage interest: −$1,400
• − Property taxes: −$375
• − Insurance: −$125
• − Repairs & maintenance: −$1,638
• − Management: −$1,638
• − HOA: −$2,700
• − Depreciation: −$727
• Taxable income: $11,874
• Est. tax owed @ 24.0%: −$2,850
• After-tax cash flow: $8,555/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

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

-50.0% since first listed

20 events — show timeline

• 2025-06-27 Pending — REALCOMP
• 2025-06-05 Pending — REALCOMP
• 2025-06-04 Pending — REALCOMP
• 2024-12-18 Listing Removed — REALCOMP
• 2014-11-15 Listing Removed — MiRealSource-MiMLS
• 2014-11-15 Listing Removed — REALCOMP
• 2014-11-15 Listing Removed — REALCOMP
• 2014-11-09 Listed $25,000 MiRealSource-MiMLS
• 2014-11-09 Listed $25,000 REALCOMP
• 2001-08-28 Sold (Public Records) $77,500 Public Records
• 2001-06-25 Sold (MLS) $77,500 REALCOMP
• 2001-02-25 Listed $79,900 REALCOMP
• 1998-08-20 Listing Removed — REALCOMP
• 1998-05-27 Listed $64,000 REALCOMP
• 1998-05-22 Sold (MLS) $60,000 REALCOMP
• 1998-05-12 Sold (Public Records) $60,000 Public Records
• 1998-01-08 Listed $64,900 REALCOMP
• 1997-11-24 Listing Removed — REALCOMP
• 1997-08-20 Listed $69,900 REALCOMP
• 1994-08-25 Sold (Public Records) $50,000 Public Records

Property tax history

+1.7%/yr

Latest (2025): $1,278 · +0.9% YoY. Source: county tax records.