25301 Five Mile Rd #101 · Redford, MI 48239

$43,900

1 bd · 1.0 ba · 568 sqft · Condo public records · 36 Days on market

Built 1965 $267/mo HOA · 29% of rent

---

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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.3/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to own this beautiful 1-bedroom, 1-bath ranch-style condo in a desirable complex! This well-maintained home features hardwood floors, wall A/C, and a spacious living room filled with great natural light. The galley kitchen includes appliances and a new garbage disposal, offering both convenience and functionality. Enjoy easy, low-maintenance living in a comfortable layout perfect for a first-time buyer, downsizing, or investment opportunity. Don't miss your chance to own this charming condo in a fantastic location!

Key facts

• $267 HOA
• Built 1965
• Listed 36 days

Property features AI

Finance

• HOA & community: Association fee of $267 per month; Has association

Exterior

• Home design: Ranch-style condo; Built in 1965
• Construction: Brick construction
• Exterior features: Public water

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Wall unit cooling
• Interior features: Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $44k.

Deal economics

• At list price, monthly cash flow is $166 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($907 rent vs $44k).
• Recommended offer: $43k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Redford Union Schools District No. 1 (suburban): math 8% / reading 23% proficiency, ranked #489 of 540 in MI (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.2%/yr); 188 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 90% of comp listings sitting > 30 days — soft ceiling on asking rent; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent is only 15% of the median local income ($71k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $304 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.2% rent growth), your $12k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($43k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 24y 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.

Risks & watch-outs

• Watch-outs: HOA is 29% of rent.

Recommended offer $42,583 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 2.07% ✓
• Cap rate: 10.83%
• Cash-on-cash: 16.21%
• DSCR: 1.72
• GRM: 4.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.25% rent growth · sell at horizon

5-year hold

• IRR: 8.0%
• Equity multiple: 1.31×
• Total profit: $3,859
• Equity at exit: $6,546

10-year hold

• IRR: 17.8%
• Equity multiple: 2.51×
• Total profit: $18,596
• Equity at exit: $3,796

Cash invested: $12,292 (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 48239

• Rents YoY: 3.2%
• Active inventory: 188
• Price-to-rent: 4.0×

Monthly cashflow live

• Estimated rent: $907 high
• Mortgage (P&I): −$230
• Tax from tax record: −$35 /mo · $418/yr
• Insurance: −$18
• HOA: −$267
• Vacancy / Maint / Mgmt: −$190
• Net cashflow: $166

Break-even live

Break-even rent $697

Max offer price $43,900

Occupancy floor 77%

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: $10,975
• Closing costs: $1,317
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
16581 Wormer St Detroit, MI	2.0	1.0	720	$1,100	$1.53	43d	1	0.96mi
14290 Riverview St Unit 106 Detroit, MI	1.0	1.0	550	$695	$1.26	43d	1	1.01mi
14290 Riverview St Unit 208 Detroit, MI	1.0	1.0	550	$845	$1.54	43d	1	1.01mi
14838 Riverview St Unit 110 Detroit, MI	1.0	1.0	550	$845	$1.54	43d	1	1.04mi
14272 Riverview St Unit 216 Detroit, MI	1.0	1.0	550	$795	$1.45	43d	1	1.04mi
14272 Riverview St Apt 213 Detroit, MI	1.0	1.0	550	$845	$1.54	43d	1	1.04mi
14272 Riverview St Unit 214 Detroit, MI	1.0	1.0	550	$695	$1.26	43d	1	1.04mi
14242 Riverview St Unit 215 Detroit, MI	1.0	1.0	550	$795	$1.45	43d	1	1.04mi
14242 Riverview St Apt 218 Detroit, MI	1.0	1.0	550	$845	$1.54	43d	1	1.04mi
24244 Dale St Unit 211 Detroit, MI	1.0	1.0	550	$800	$1.45	24d	1	1.04mi
14281 Riverview St Unit 116 Detroit, MI	1.0	1.0	550	$800	$1.45	43d	1	1.05mi
14245 Riverview St Detroit, MI	2.0	1.0	750	$985	$1.31	43d	1	1.05mi
14281 Riverview St Unit 113 Detroit, MI	1.0	1.0	550	$845	$1.54	43d	1	1.05mi
14281 Riverview St Unit 115 Detroit, MI	1.0	1.0	550	$695	$1.26	43d	1	1.05mi
14281 Riverview St Unit 213 Detroit, MI	1.0	1.0	550	$795	$1.45	43d	1	1.05mi
14281 Riverview St Unit 216 Detroit, MI	1.0	1.0	550	$795	$1.45	15d	1	1.05mi
14244 Dale St Unit 212 Detroit, MI	1.0	1.0	550	$695	$1.26	43d	1	1.06mi
24651 W McNichols Rd Detroit, MI	1.0	1.0	700	$800	$1.14	43d	4	1.07mi
14220 Dale St Unit 204 Detroit, MI	1.0	1.0	550	$795	$1.45	43d	1	1.07mi
14220 Dale St Unit 105 Detroit, MI	1.0	1.0	550	$695	$1.26	43d	1	1.07mi
14220 Dale St Apt 106 Detroit, MI	1.0	1.0	550	$800	$1.45	43d	1	1.07mi
14242 Riverview St Unit 118 Detroit, MI	1.0	1.0	550	$800	$1.45	43d	1	1.08mi
14221 Riverview St Apt 102 Detroit, MI	1.0	1.0	550	$800	$1.45	43d	1	1.10mi
14221 Riverview St Apt 201 Detroit, MI	1.0	1.0	550	$845	$1.54	43d	1	1.10mi
14221 Riverview St Unit 203 Detroit, MI	1.0	1.0	550	$695	$1.26	43d	1	1.10mi
14221 Riverview St Unit 104 Detroit, MI	1.0	1.0	550	$795	$1.45	43d	1	1.10mi
14075 Riverview St Detroit, MI	1.0–2.0	1.0	925	$845	$0.91	43d	1	1.10mi
14220 Riverview St Apt 102 Detroit, MI	1.0	1.0	500	$845	$1.69	43d	1	1.10mi
14220 Riverview St Unit 201 Detroit, MI	1.0	1.0	500	$800	$1.60	43d	1	1.10mi
14220 Riverview St Unit 206 Detroit, MI	1.0	1.0	550	$695	$1.26	43d	1	1.10mi
14220 Riverview St Unit 202 Detroit, MI	1.0	1.0	550	$795	$1.45	24d	1	1.10mi
14220 Riverview St Apt 101 Detroit, MI	1.0	1.0	550	$845	$1.54	24d	1	1.10mi
14179 Riverview St Unit 219 Detroit, MI	1.0	1.0	750	$845	$1.13	43d	1	1.11mi
14216 Riverview St Detroit, MI	1.0	1.0	750	$950	$1.27	43d	1	1.13mi
14208 Riverview St Detroit, MI	1.0	1.0	750	$985	$1.31	43d	1	1.13mi
14204 Riverview St Detroit, MI	1.0	1.0	750	$895	$1.19	43d	1	1.13mi
14212 Riverview St Detroit, MI	1.0	1.0	750	$900	$1.20	43d	1	1.13mi
14200 Riverview St Detroit, MI	1.0	1.0	750	$895	$1.19	43d	1	1.13mi
14147 Riverview St Unit 213 Detroit, MI	1.0	1.0	550	$695	$1.26	43d	1	1.14mi
14147 Riverview St Unit 111 Detroit, MI	1.0	1.0	550	$845	$1.54	43d	1	1.14mi

HOA detail condo

• Monthly dues: $267 · $3,204/yr
• Likely covers: trash
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-18
   days on market $43,900 Active 36 DOM
2. 2026-06-17
   days on market $43,900 Active 35 DOM
3. 2026-06-16
   days on market $43,900 Active 34 DOM
4. 2026-06-15
   days on market $43,900 Active 33 DOM
5. 2026-06-13
   days on market $43,900 Active 31 DOM
6. 2026-06-13
   days on market $43,900 Active 30 DOM
7. 2026-06-09
   days on market $43,900 Active 27 DOM
8. 2026-06-08
   days on market $43,900 Active 26 DOM
9. 2026-06-07
   days on market $43,900 Active 25 DOM
10. 2026-06-04
    days on market $43,900 Active 22 DOM
11. 2026-06-03
    days on market $43,900 Active 21 DOM
12. 2026-06-02
    days on market $43,900 Active 20 DOM
13. 2026-06-01
    days on market $43,900 Active 19 DOM
14. 2026-05-31
    days on market $43,900 Active 18 DOM
15. 2026-05-23
    price $44,800 538-char remark

    Show marketing remark (538 chars)

    Great opportunity to own this beautiful 1-bedroom, 1-bath ranch-style condo in a desirable complex! This well-maintained home features hardwood floors, wall A/C, and a spacious living room filled with great natural light. The galley kitchen includes appliances and a new garbage disposal, offering both convenience and functionality. Enjoy easy, low-maintenance living in a comfortable layout perfect for a first-time buyer, downsizing, or investment opportunity. Don't miss your chance to own this charming condo in a fantastic location!

16. 2026-05-22
    price $44,800 538-char remark

    Show marketing remark (538 chars)

    Great opportunity to own this beautiful 1-bedroom, 1-bath ranch-style condo in a desirable complex! This well-maintained home features hardwood floors, wall A/C, and a spacious living room filled with great natural light. The galley kitchen includes appliances and a new garbage disposal, offering both convenience and functionality. Enjoy easy, low-maintenance living in a comfortable layout perfect for a first-time buyer, downsizing, or investment opportunity. Don't miss your chance to own this charming condo in a fantastic location!

17. 2026-05-22
    price $44,800

    Show marketing remark (538 chars)

    Great opportunity to own this beautiful 1-bedroom, 1-bath ranch-style condo in a desirable complex! This well-maintained home features hardwood floors, wall A/C, and a spacious living room filled with great natural light. The galley kitchen includes appliances and a new garbage disposal, offering both convenience and functionality. Enjoy easy, low-maintenance living in a comfortable layout perfect for a first-time buyer, downsizing, or investment opportunity. Don't miss your chance to own this charming condo in a fantastic location!

18. 2026-05-13
    listed $44,900 Active 538-char remark

    Show marketing remark (538 chars)

    Great opportunity to own this beautiful 1-bedroom, 1-bath ranch-style condo in a desirable complex! This well-maintained home features hardwood floors, wall A/C, and a spacious living room filled with great natural light. The galley kitchen includes appliances and a new garbage disposal, offering both convenience and functionality. Enjoy easy, low-maintenance living in a comfortable layout perfect for a first-time buyer, downsizing, or investment opportunity. Don't miss your chance to own this charming condo in a fantastic location!

19. 2026-05-13
    listed $44,900 Active 538-char remark

    Show marketing remark (538 chars)

    Great opportunity to own this beautiful 1-bedroom, 1-bath ranch-style condo in a desirable complex! This well-maintained home features hardwood floors, wall A/C, and a spacious living room filled with great natural light. The galley kitchen includes appliances and a new garbage disposal, offering both convenience and functionality. Enjoy easy, low-maintenance living in a comfortable layout perfect for a first-time buyer, downsizing, or investment opportunity. Don't miss your chance to own this charming condo in a fantastic location!

20. 2026-05-13
    listed $44,900 Active

    Show marketing remark (538 chars)

    Great opportunity to own this beautiful 1-bedroom, 1-bath ranch-style condo in a desirable complex! This well-maintained home features hardwood floors, wall A/C, and a spacious living room filled with great natural light. The galley kitchen includes appliances and a new garbage disposal, offering both convenience and functionality. Enjoy easy, low-maintenance living in a comfortable layout perfect for a first-time buyer, downsizing, or investment opportunity. Don't miss your chance to own this charming condo in a fantastic location!

21. 2003-03-10
    soldstatus $39,000
22. 2002-11-06
    listed $42,000

ⓘ 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: $418 · $35/mo
• Projected year-2 tax: $547 · $46/mo
• Expected delta: +$129/yr (+$11/mo · 31.0%)

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

Taxation est. · year 1

• Rental income: $10,882
• − Mortgage interest: −$2,459
• − Property taxes: −$418
• − Insurance: −$220
• − Repairs & maintenance: −$871
• − Management: −$871
• − HOA: −$3,204
• − Depreciation: −$1,277
• Taxable income: $1,564
• Est. tax owed @ 24.0%: −$375
• After-tax cash flow: $1,618/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: Redford Union Schools District No. 1
• NCES district ID: 2629460
• Math proficiency: 8% ▼ -6.00%
• Reading proficiency: 23% ▬ 0.00%
• Median HH income: $49,778
• Composite: 14.1/100
• National rank: #9460
• State rank: #489 of 540 in MI

Livability — Redford

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Wayne County · 1,562,939 people
• City population: 36,976
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 36,976
• Household income: $71,151
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 1052.0

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 1,675,273 people
• By 2030: 1,620,300 · -3.3%
• By 2040: 1,502,341 · -10.3%
• By 2050: 1,384,039 · -17.4%
• By 2075: 1,124,592 · -32.9%
• By 2100: 881,193 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Majority Black (58%)
• Race & ethnicity: Black 58% White 34% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Romanian 7% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1% Arabic 1%

Political lean MEDSL · Wayne

• 2024 margin: Strong D (+29.0) · D 62.7% · R 33.7% · Other 3.6%
• 2008→2024 swing: -20.5pp toward R · 2008: 49.5pp · 2024: 29.0pp
• All cycles: 2024: D+29.0 2020: D+38.1 2016: D+37.3 2012: D+46.9 2008: D+49.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -202.97%
• Current HPI: 236.1136
• Rent YoY: ▲ 3.25%
• 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

+6.7% since first listed

8 events — show timeline

• 2026-05-23 Price Changed $44,800 MiRealSource-MiMLS
• 2026-05-22 Price Changed $44,800 REALCOMP
• 2026-05-22 Price Changed $44,800 SW Michigan MLS
• 2026-05-13 Listed $44,900 REALCOMP
• 2026-05-13 Listed $44,900 SW Michigan MLS
• 2026-05-13 Listed $44,900 MiRealSource-MiMLS
• 2003-03-10 Sold (MLS) $39,000 REALCOMP
• 2002-11-06 Listed $42,000 REALCOMP

Property tax history

-2.9%/yr

Latest (2025): $418 · -42.8% YoY. Source: county tax records.