24419 Bashian Dr · Novi, MI 48375

$195,000

3 bd · 1.5 ba · 1,688 sqft · Condo · 115 Days on market

Built 1973 $116/sqft · 13% below area Est $224k · 13% under $472/mo HOA · 25% 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 +13.3/15.0
• Cash flow +7.3/30.0
• Schools +6.5/10.0
• 1% rule +4.8/10.0
• Livability +4.3/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 2-story condo offers 1,188 square feet of thoughtfully designed living space with 3 bedrooms and 1.5 baths, perfectly blending comfort and functionality. Step inside to a bright and airy main level featuring large windows that fill the home with natural light. The spacious living room is centered around a cozy fireplace, creating the perfect focal point for relaxing evenings or gathering with guests. The layout flows seamlessly into the dining and kitchen areas, making everyday living and entertaining effortless. Upstairs, you'll find three well-sized bedrooms and a full bath, offering comfortable accommodations and versatile space for family, guests, or a home office. The finished basement adds valuable additional living space - ideal for a recreation room, workout area, media space, or playroom - along with extra storage options to keep everything organized. With its natural light, inviting fireplace, finished lower level, and functional layout, this condo delivers exceptional space and comfort in a low-maintenance setting.

Key facts

• $472 HOA
• Built 1973
• Listed 115 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $195k.

Deal economics

• At list price, monthly cash flow is $-259 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $149k (23.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $190k (2.4% below list).
• Recommended offer: $149k (23.5% below list) — sets the bar for cash-flow.
• Cap rate 4.7% vs local median 2.7% in Novi — 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 86/100 on livability (#20 in MI, #377 nationally) — a professional / high-income tenant draw. Strengths: crime A+, employment A+, housing A+; Watch: commute F.
• Novi Community School District (urban): math 73% / reading 72% proficiency, ranked #7 of 540 in MI (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Village Oaks Elementary School (math 72% / reading 62%, grade B+, #105 of 1,397 statewide, top 9%, 538 students, 19% FRL); Novi High School (math 75% / reading 83%, grade A-, #8 of 713 statewide, top 1%, 2,101 students, 11% FRL).
• Market conditions: Rents rising (+1.7%/yr); 143 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals leasing fast (median 1d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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 $1k of loan paydown is wiped out by about $6k 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 115 days — a 9% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 20y ago; this cycle's ask has dropped $30k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $127k; list at $195k implies a 54% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.

Recommended offer $149,196 (23.5% 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 115 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
7. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
8. 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?
9. 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?
10. 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.
11. 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.
12. 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: 0.98% ✗
• Cap rate: 4.70%
• Cash-on-cash: -5.70%
• DSCR: 0.75
• GRM: 8.5

CMA / ARV

• ARV (median comp): $223,839
• List price: $195,000
• Delta: -12.88%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 1.68% rent growth · sell at horizon

5-year hold

• IRR: -27.9%
• Equity multiple: 0.08×
• Total profit: $-50,324
• Equity at exit: $29,075

10-year hold

• IRR: -33.9%
• Equity multiple: -0.35×
• Total profit: $-73,902
• Equity at exit: $16,860

Cash invested: $54,600 (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 48375

• Rents YoY: 1.7%
• Active inventory: 143
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,903 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$187 /mo · $2,243/yr
• Insurance: −$81
• HOA: −$472
• Vacancy / Maint / Mgmt: −$400
• Net cashflow: $-259

Break-even live

Break-even rent $2,231

Max offer price $149,196

Occupancy floor —

Sensitivity live

Price	-10% $-149	-5% $-204	+0% $-259	+5% $-314	+10% $-370
Rent	-10% $-410	-5% $-334	+0% $-259	+5% $-184	+10% $-109
Rate	-1.0pp $-161	-0.5pp $-210	base $-259	+0.5pp $-310	+1.0pp $-361

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
24701 Bashian Dr #8 Novi, MI	2.0	2.5	1250	$1,800	$1.44	45d	1	0.01mi
24651 Olde Orchard St Novi, MI	2.0	2.5	1096	$1,795	$1.64	6d	1	0.13mi
25528 Portico Ln Unit 161 Novi, MI	2.0	2.0	1240	$1,800	$1.45	45d	1	0.93mi
25588 Portico Ln Novi, MI	3.0	2.5	1838	$2,700	$1.47	45d	1	0.96mi
22675 Pavilion Dr Novi, MI	2.0	2.0	1165	$1,562	$1.34	1d	18	0.99mi
41670 Tera Ln Novi, MI	3.0	2.0	1794	$1,700	$0.95	46d	1	1.05mi
42101 Fountain Park Dr N Novi, MI	1.0–2.0	1.0–2.0	985	$1,824	$1.85	1d	21	1.11mi
23640 Chipmunk Trl Novi, MI	1.0–3.0	1.0–1.5	876	$1,914	$2.18	1d	4	1.18mi
25300 Constitution Novi, MI	1.0–2.0	1.0–2.5	1241	$2,344	$1.89	0d	14	1.30mi
22123 Solomon Blvd Novi, MI	2.0	2.0	1200	$1,782	$1.48	1d	3	1.32mi
24360 Independence Dr Farmington Hills, MI	1.0–3.0	1.0–2.0	967	$2,395	$2.48	0d	118	1.46mi

HOA detail condo

• Monthly dues: $472 · $5,664/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 40 events

1. 2026-06-21
   days on market $195,000 Active 115 DOM
2. 2026-06-18
   days on market $195,000 Active 112 DOM
3. 2026-06-17
   days on market $195,000 Active 111 DOM
4. 2026-06-16
   days on market $195,000 Active 110 DOM
5. 2026-06-15
   days on market $195,000 Active 109 DOM
6. 2026-06-13
   days on market $195,000 Active 107 DOM
7. 2026-06-13
   days on market $195,000 Active 106 DOM
8. 2026-06-09
   days on market $195,000 Active 103 DOM
9. 2026-06-08
   days on market $195,000 Active 102 DOM
10. 2026-06-07
    days on market $195,000 Active 101 DOM
11. 2026-06-04
    days on market $195,000 Active 98 DOM
12. 2026-06-03
    days on market $195,000 Active 97 DOM
13. 2026-06-02
    days on market $195,000 Active 96 DOM
14. 2026-06-01
    days on market $195,000 Active 95 DOM
15. 2026-05-31
    days on market $195,000 Active 94 DOM
16. 2026-04-01
    price $199,999 1046-char remark

    Show marketing remark (1046 chars)

    This 2-story condo offers 1,188 square feet of thoughtfully designed living space with 3 bedrooms and 1.5 baths, perfectly blending comfort and functionality. Step inside to a bright and airy main level featuring large windows that fill the home with natural light. The spacious living room is centered around a cozy fireplace, creating the perfect focal point for relaxing evenings or gathering with guests. The layout flows seamlessly into the dining and kitchen areas, making everyday living and entertaining effortless. Upstairs, you'll find three well-sized bedrooms and a full bath, offering comfortable accommodations and versatile space for family, guests, or a home office. The finished basement adds valuable additional living space - ideal for a recreation room, workout area, media space, or playroom - along with extra storage options to keep everything organized. With its natural light, inviting fireplace, finished lower level, and functional layout, this condo delivers exceptional space and comfort in a low-maintenance setting.

17. 2026-03-31
    price $199,999 1060-char remark

    Show marketing remark (1060 chars)

    This 2-story condo offers 1,188 square feet of thoughtfully designed living space with 3 bedrooms and 1.5 baths, perfectly blending comfort and functionality. Step inside to a bright and airy main level featuring large windows that fill the home with natural light. The spacious living room is centered around a cozy fireplace, creating the perfect focal point for relaxing evenings or gathering with guests. The layout flows seamlessly into the dining and kitchen areas, making everyday living and entertaining effortless. Upstairs, you’ll find three well-sized bedrooms and a full bath, offering comfortable accommodations and versatile space for family, guests, or a home office. The finished basement adds valuable additional living space—ideal for a recreation room, workout area, media space, or playroom—along with extra storage options to keep everything organized. With its natural light, inviting fireplace, finished lower level, and functional layout, this condo delivers exceptional space and comfort in a low-maintenance setting.

18. 2026-03-26
    price $210,000 1046-char remark

    Show marketing remark (1060 chars)

    This 2-story condo offers 1,188 square feet of thoughtfully designed living space with 3 bedrooms and 1.5 baths, perfectly blending comfort and functionality. Step inside to a bright and airy main level featuring large windows that fill the home with natural light. The spacious living room is centered around a cozy fireplace, creating the perfect focal point for relaxing evenings or gathering with guests. The layout flows seamlessly into the dining and kitchen areas, making everyday living and entertaining effortless. Upstairs, you’ll find three well-sized bedrooms and a full bath, offering comfortable accommodations and versatile space for family, guests, or a home office. The finished basement adds valuable additional living space—ideal for a recreation room, workout area, media space, or playroom—along with extra storage options to keep everything organized. With its natural light, inviting fireplace, finished lower level, and functional layout, this condo delivers exceptional space and comfort in a low-maintenance setting.

19. 2026-03-26
    price $210,000 1060-char remark

    Show marketing remark (1060 chars)

    This 2-story condo offers 1,188 square feet of thoughtfully designed living space with 3 bedrooms and 1.5 baths, perfectly blending comfort and functionality. Step inside to a bright and airy main level featuring large windows that fill the home with natural light. The spacious living room is centered around a cozy fireplace, creating the perfect focal point for relaxing evenings or gathering with guests. The layout flows seamlessly into the dining and kitchen areas, making everyday living and entertaining effortless. Upstairs, you’ll find three well-sized bedrooms and a full bath, offering comfortable accommodations and versatile space for family, guests, or a home office. The finished basement adds valuable additional living space—ideal for a recreation room, workout area, media space, or playroom—along with extra storage options to keep everything organized. With its natural light, inviting fireplace, finished lower level, and functional layout, this condo delivers exceptional space and comfort in a low-maintenance setting.

20. 2026-02-26
    listed $225,000 Active 1046-char remark

    Show marketing remark (1060 chars)

    This 2-story condo offers 1,188 square feet of thoughtfully designed living space with 3 bedrooms and 1.5 baths, perfectly blending comfort and functionality. Step inside to a bright and airy main level featuring large windows that fill the home with natural light. The spacious living room is centered around a cozy fireplace, creating the perfect focal point for relaxing evenings or gathering with guests. The layout flows seamlessly into the dining and kitchen areas, making everyday living and entertaining effortless. Upstairs, you’ll find three well-sized bedrooms and a full bath, offering comfortable accommodations and versatile space for family, guests, or a home office. The finished basement adds valuable additional living space—ideal for a recreation room, workout area, media space, or playroom—along with extra storage options to keep everything organized. With its natural light, inviting fireplace, finished lower level, and functional layout, this condo delivers exceptional space and comfort in a low-maintenance setting.

21. 2026-02-26
    listed $225,000 Active 1060-char remark

    Show marketing remark (1060 chars)

    This 2-story condo offers 1,188 square feet of thoughtfully designed living space with 3 bedrooms and 1.5 baths, perfectly blending comfort and functionality. Step inside to a bright and airy main level featuring large windows that fill the home with natural light. The spacious living room is centered around a cozy fireplace, creating the perfect focal point for relaxing evenings or gathering with guests. The layout flows seamlessly into the dining and kitchen areas, making everyday living and entertaining effortless. Upstairs, you’ll find three well-sized bedrooms and a full bath, offering comfortable accommodations and versatile space for family, guests, or a home office. The finished basement adds valuable additional living space—ideal for a recreation room, workout area, media space, or playroom—along with extra storage options to keep everything organized. With its natural light, inviting fireplace, finished lower level, and functional layout, this condo delivers exceptional space and comfort in a low-maintenance setting.

22. 2018-08-23
    soldstatus $127,000
23. 2017-04-06
    soldstatus $127,500
24. 2017-04-03
    soldstatus $127,500 Sold
25. 2017-04-03
    soldstatus $127,500 Closed
26. 2017-02-19
    status Pending
27. 2017-02-18
    status Pending
28. 2017-02-14
    price $127,500
29. 2017-02-13
    price $127,500
30. 2017-01-27
    price $129,900
31. 2017-01-27
    price $129,900
32. 2017-01-20
    status Active
33. 2017-01-19
    status Active
34. 2016-12-20
    status Pending
35. 2016-12-20
    status Pending
36. 2016-11-23
    listed $135,000 Active
37. 2016-11-23
    listed $135,000 Active
38. 2007-08-28
    historical
39. 2006-12-28
    listed $137,500
40. 1998-05-15
    soldstatus $106,332

ⓘ 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: $2,243 · $187/mo
• Projected year-2 tax: $2,623 · $219/mo
• Expected delta: +$380/yr (+$32/mo · 16.9%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $22,838
• − Mortgage interest: −$10,923
• − Property taxes: −$2,243
• − Insurance: −$975
• − Repairs & maintenance: −$1,827
• − Management: −$1,827
• − HOA: −$5,664
• − Depreciation: −$5,673
• Taxable loss: −$6,294
• Est. tax savings @ 24.0%: +$1,511
• After-tax cash flow: $-1,601/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: Novi Community School District
• NCES district ID: 2626130
• Math proficiency: 73% ▼ -3.00%
• Reading proficiency: 72% ▼ -1.00%
• Median HH income: $90,023
• Composite: 65.28/100
• National rank: #489
• State rank: #7 of 540 in MI

Livability — Novi

• Score: 86/100
• State rank: #20
• US rank: #377

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Novi, MI
• County: Oakland County · 1,009,092 people
• City population: 43,845
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 24,029
• Household income: $112,545
• Rent vs Own: 29.9% rent · 70.1% own
• Severe rent burden: 517.0

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 0.60)
• Race & ethnicity: White 56% Asian 27% Two or more races 7% Black 6% Hispanic / Latino 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 10% Lithuanian 3% Slovak 2%
• Foreign-born: 29% · China, Canada, South Korea
• Languages at home: 67% English-only · Other Asian/Pacific 12% Other Indo-European 8% Spanish 4%

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: ▼ -337.82%
• Current HPI: 166.0153
• Rent YoY: ▲ 1.68%
• 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

+88.1% since first listed

25 events — show timeline

• 2026-04-01 Price Changed $199,999 MiRealSource-MiMLS
• 2026-03-31 Price Changed $199,999 REALCOMP
• 2026-03-26 Price Changed $210,000 MiRealSource-MiMLS
• 2026-03-26 Price Changed $210,000 REALCOMP
• 2026-02-26 Listed $225,000 REALCOMP
• 2026-02-26 Listed $225,000 MiRealSource-MiMLS
• 2018-08-23 Sold (Public Records) $127,000 Public Records
• 2017-04-06 Sold (Public Records) $127,500 Public Records
• 2017-04-03 Sold (MLS) $127,500 MiRealSource-MiMLS
• 2017-04-03 Sold (MLS) $127,500 REALCOMP
• 2017-02-19 Pending — MiRealSource-MiMLS
• 2017-02-18 Pending — REALCOMP
• 2017-02-14 Price Changed $127,500 MiRealSource-MiMLS
• 2017-02-13 Price Changed $127,500 REALCOMP
• 2017-01-27 Price Changed $129,900 MiRealSource-MiMLS
• 2017-01-27 Price Changed $129,900 REALCOMP
• 2017-01-20 Relisted — MiRealSource-MiMLS
• 2017-01-19 Relisted — REALCOMP
• 2016-12-20 Pending — MiRealSource-MiMLS
• 2016-12-20 Pending — REALCOMP
• 2016-11-23 Listed $135,000 MiRealSource-MiMLS
• 2016-11-23 Listed $135,000 REALCOMP
• 2007-08-28 Listing Removed — MiRealSource-MiMLS
• 2006-12-28 Listed $137,500 MiRealSource-MiMLS
• 1998-05-15 Sold (Public Records) $106,332 Public Records

Property tax history

+7.5%/yr

Latest (2025): $2,243 · -15.5% YoY. Source: county tax records.