7408 Vassar Dr S Unit B · West Bloomfield, MI 48322

$215,000

2 bd · 2.0 ba · 1,563 sqft · Condo public records · 98 Days on market

Built 1978 $138/sqft · 11% below area Est $240k · 11% under $425/mo HOA · 19% 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 +12.2/15.0
• Cash flow +10.7/30.0
• 1% rule +5.7/10.0
• Schools +4.5/10.0
• DSCR +3.1/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully updated and move-in ready condo featuring brand-new flooring throughout and fresh interior paint. This spacious unit offers two private balconies, perfect for relaxing or entertaining. Enjoy the convenience of an in-unit washer and dryer and a well-designed layout with plenty of room to live comfortably. Located within walking distance to shopping, restaurants, and parks, this home combines comfort with everyday convenience. Community clubhouse and pool are currently under construction, adding even more value and future amenities. Don't miss this opportunity to own a stylish, well-located condo with modern updates and generous space.

Key facts

• Private balconies
• Community pool
• Community clubhouse

Tags

• PRIVATE BALCONIES
• IN UNIT WASHER AND DRYER
• COMMUNITY CLUBHOUSE
• COMMUNITY POOL
• WALKING DISTANCE TO SHOPPING
• WALKING DISTANCE TO PARKS

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $215k.

Deal economics

• At list price, monthly cash flow is $-102 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $197k (8.4% below list).
• Meets the 1% rule at list price ($2k rent vs $215k).
• Recommended offer: $196k (9.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• West Bloomfield School District (suburban): math 42% / reading 55% proficiency, ranked #83 of 540 in MI (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.4%/yr); 181 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 12d 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 98 days — a 9% lower offer ($196k) is reasonable based on typical stale-listing flexibility.
• 7 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 $134k; list at $215k implies a 60% gain — meaningful room to come down on a strong offer.

Recommended offer $195,650 (9.0% 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 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
3. Built in 1978 — 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. 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: 1.07% ✓
• Cap rate: 5.73%
• Cash-on-cash: -2.03%
• DSCR: 0.91
• GRM: 7.8

CMA / ARV

• ARV (median comp): $240,313
• List price: $215,000
• Delta: -10.53%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -24.0%
• Equity multiple: 0.21×
• Total profit: $-47,744
• Equity at exit: $32,057

10-year hold

• IRR: -36.6%
• Equity multiple: -0.24×
• Total profit: $-74,698
• Equity at exit: $18,589

Cash invested: $60,200 (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 48322

• Rents YoY: -0.4%
• Active inventory: 181
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,295 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$273 /mo · $3,274/yr
• Insurance: −$90
• HOA: −$425
• Vacancy / Maint / Mgmt: −$482
• Net cashflow: $-102

Break-even live

Break-even rent $2,424

Max offer price $197,034

Occupancy floor 99%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
31200 Hunters Dr Farmington Hills, MI	1.0–3.0	1.0–2.5	1520	$1,834	$1.21	1d	15	0.32mi
7110 Orchard Lake Rd West Bloomfield Township, MI	1.0–2.0	1.0–2.0	1020	$2,650	$2.60	1d	13	0.46mi
7020 Orchard Lake Rd West Bloomfield, MI	1.0–3.0	1.0–2.5	1298	$4,218	$3.25	1d	25	0.54mi
6834 Chimney Hill Dr West Bloomfield, MI	2.0	1.5–2.0	1085	$1,882	$1.73	1d	20	0.72mi
6616 Embers Ct West Bloomfield, MI	2.0	2.0	1059	$1,800	$1.70	43d	1	0.80mi
6600 Bellows Ct West Bloomfield, MI	2.0	2.0	1059	$2,100	$1.98	12d	1	0.81mi
6625 Fireside Ct West Bloomfield Township, MI	2.0	2.0	1450	$2,000	$1.38	24d	1	0.83mi
5202 Richard Run West Bloomfield, MI	3.0	2.5	1650	$2,500	$1.52	16d	1	1.35mi
29374 Glen Oaks Blvd E Farmington Hills, MI	2.0	1.5	1146	$2,100	$1.83	43d	1	1.36mi
5460 Bentley Rd West Bloomfield, MI	2.0	1.0–2.0	1102	$1,875	$1.70	1d	12	1.36mi

HOA detail condo

• Monthly dues: $425 · $5,100/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 33 events

1. 2026-06-18
   days on market $215,000 Active 98 DOM
2. 2026-06-17
   days on market $215,000 Active 97 DOM
3. 2026-06-16
   days on market $215,000 Active 96 DOM
4. 2026-06-15
   days on market $215,000 Active 95 DOM
5. 2026-06-13
   days on market $215,000 Active 93 DOM
6. 2026-06-09
   days on market $215,000 Active 89 DOM
7. 2026-06-08
   days on market $215,000 Active 88 DOM
8. 2026-06-08
   status $215,000 Active 87 DOM
9. 2026-06-07
   days on market $215,000 Active - Contingent 87 DOM
10. 2026-06-04
    days on market $215,000 Active - Contingent 84 DOM
11. 2026-06-03
    days on market $215,000 Active - Contingent 83 DOM
12. 2026-06-02
    days on market $215,000 Active - Contingent 82 DOM
13. 2026-06-02
    status $215,000 Active - Contingent 81 DOM
14. 2026-06-01
    days on market $215,000 Active 81 DOM
15. 2026-05-31
    days on market $215,000 Active 80 DOM
16. 2026-04-16
    price $215,000 653-char remark

    Show marketing remark (653 chars)

    Beautifully updated and move-in ready condo featuring brand-new flooring throughout and fresh interior paint. This spacious unit offers two private balconies, perfect for relaxing or entertaining. Enjoy the convenience of an in-unit washer and dryer and a well-designed layout with plenty of room to live comfortably. Located within walking distance to shopping, restaurants, and parks, this home combines comfort with everyday convenience. Community clubhouse and pool are currently under construction, adding even more value and future amenities. Don't miss this opportunity to own a stylish, well-located condo with modern updates and generous space.

17. 2026-04-16
    price $215,000 653-char remark

    Show marketing remark (653 chars)

    Beautifully updated and move-in ready condo featuring brand-new flooring throughout and fresh interior paint. This spacious unit offers two private balconies, perfect for relaxing or entertaining. Enjoy the convenience of an in-unit washer and dryer and a well-designed layout with plenty of room to live comfortably. Located within walking distance to shopping, restaurants, and parks, this home combines comfort with everyday convenience. Community clubhouse and pool are currently under construction, adding even more value and future amenities. Don't miss this opportunity to own a stylish, well-located condo with modern updates and generous space.

18. 2026-04-16
    price $215,000

    Show marketing remark (653 chars)

    Beautifully updated and move-in ready condo featuring brand-new flooring throughout and fresh interior paint. This spacious unit offers two private balconies, perfect for relaxing or entertaining. Enjoy the convenience of an in-unit washer and dryer and a well-designed layout with plenty of room to live comfortably. Located within walking distance to shopping, restaurants, and parks, this home combines comfort with everyday convenience. Community clubhouse and pool are currently under construction, adding even more value and future amenities. Don't miss this opportunity to own a stylish, well-located condo with modern updates and generous space.

19. 2026-03-12
    listed $225,000 Active 653-char remark

    Show marketing remark (653 chars)

    Beautifully updated and move-in ready condo featuring brand-new flooring throughout and fresh interior paint. This spacious unit offers two private balconies, perfect for relaxing or entertaining. Enjoy the convenience of an in-unit washer and dryer and a well-designed layout with plenty of room to live comfortably. Located within walking distance to shopping, restaurants, and parks, this home combines comfort with everyday convenience. Community clubhouse and pool are currently under construction, adding even more value and future amenities. Don't miss this opportunity to own a stylish, well-located condo with modern updates and generous space.

20. 2026-03-12
    listed $225,000 Active 653-char remark

    Show marketing remark (653 chars)

    Beautifully updated and move-in ready condo featuring brand-new flooring throughout and fresh interior paint. This spacious unit offers two private balconies, perfect for relaxing or entertaining. Enjoy the convenience of an in-unit washer and dryer and a well-designed layout with plenty of room to live comfortably. Located within walking distance to shopping, restaurants, and parks, this home combines comfort with everyday convenience. Community clubhouse and pool are currently under construction, adding even more value and future amenities. Don't miss this opportunity to own a stylish, well-located condo with modern updates and generous space.

21. 2026-03-12
    listed $225,000 Active

    Show marketing remark (653 chars)

    Beautifully updated and move-in ready condo featuring brand-new flooring throughout and fresh interior paint. This spacious unit offers two private balconies, perfect for relaxing or entertaining. Enjoy the convenience of an in-unit washer and dryer and a well-designed layout with plenty of room to live comfortably. Located within walking distance to shopping, restaurants, and parks, this home combines comfort with everyday convenience. Community clubhouse and pool are currently under construction, adding even more value and future amenities. Don't miss this opportunity to own a stylish, well-located condo with modern updates and generous space.

22. 2026-03-12
    historical

    Show marketing remark (653 chars)

    Beautifully updated and move-in ready condo featuring brand-new flooring throughout and fresh interior paint. This spacious unit offers two private balconies, perfect for relaxing or entertaining. Enjoy the convenience of an in-unit washer and dryer and a well-designed layout with plenty of room to live comfortably. Located within walking distance to shopping, restaurants, and parks, this home combines comfort with everyday convenience. Community clubhouse and pool are currently under construction, adding even more value and future amenities. Don't miss this opportunity to own a stylish, well-located condo with modern updates and generous space.

23. 2026-03-12
    historical

    Show marketing remark (653 chars)

    Beautifully updated and move-in ready condo featuring brand-new flooring throughout and fresh interior paint. This spacious unit offers two private balconies, perfect for relaxing or entertaining. Enjoy the convenience of an in-unit washer and dryer and a well-designed layout with plenty of room to live comfortably. Located within walking distance to shopping, restaurants, and parks, this home combines comfort with everyday convenience. Community clubhouse and pool are currently under construction, adding even more value and future amenities. Don't miss this opportunity to own a stylish, well-located condo with modern updates and generous space.

24. 2026-01-23
    listed $225,000 Active
25. 2026-01-23
    listed $225,000 Active
26. 2025-07-31
    historical
27. 2025-05-13
    price $200,000
28. 2025-05-13
    price $200,000
29. 2025-03-19
    price $220,000
30. 2025-03-18
    price $220,000
31. 2025-02-20
    listed $225,000 Active
32. 2025-02-14
    listed $225,000 Active
33. 2004-02-09
    soldstatus $134,000

ⓘ 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: $3,274 · $273/mo
• Projected year-2 tax: $3,292 · $274/mo
• Expected delta: +$19/yr (+$2/mo · 0.6%)

ⓘ 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 2/10 Low 7 d/yr ≥96°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: $27,542
• − Mortgage interest: −$12,043
• − Property taxes: −$3,274
• − Insurance: −$1,075
• − Repairs & maintenance: −$2,203
• − Management: −$2,203
• − HOA: −$5,100
• − Depreciation: −$6,255
• Taxable loss: −$4,611
• Est. tax savings @ 24.0%: +$1,107
• After-tax cash flow: $-114/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: West Bloomfield School District
• NCES district ID: 2635820
• Math proficiency: 42% ▼ -6.00%
• Reading proficiency: 55% ▼ -2.00%
• Median HH income: $89,668
• Composite: 45.28/100
• National rank: #2653
• State rank: #83 of 540 in MI

Livability — West Bloomfield

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

Census & demographics

• County: Oakland County · 1,009,092 people
• City population: 67,612
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 32,885
• Household income: $113,865
• Rent vs Own: 22.6% rent · 77.4% own
• Severe rent burden: 911.0

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 White (64%)
• Race & ethnicity: White 64% Black 20% Asian 10% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Arab 9% Romanian 5% Scotch-Irish 4%
• Foreign-born: 25% · Canada, China
• Languages at home: 71% English-only · Arabic 8% Other Indo-European 5% Other Asian/Pacific 3%

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: ▼ -220.52%
• Current HPI: 149.0523
• Rent YoY: ▼ -0.43%
• 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

+60.4% since first listed

18 events — show timeline

• 2026-04-16 Price Changed $215,000 MiRealSource-MiMLS
• 2026-04-16 Price Changed $215,000 REALCOMP
• 2026-04-16 Price Changed $215,000 SW Michigan MLS
• 2026-03-12 Listing Removed — MiRealSource-MiMLS
• 2026-03-12 Listing Removed — REALCOMP
• 2026-03-12 Listed $225,000 SW Michigan MLS
• 2026-03-12 Listed $225,000 REALCOMP
• 2026-03-12 Listed $225,000 MiRealSource-MiMLS
• 2026-01-23 Listed $225,000 REALCOMP
• 2026-01-23 Listed $225,000 MiRealSource-MiMLS
• 2025-07-31 Listing Removed — MiRealSource-MiMLS
• 2025-05-13 Price Changed $200,000 MiRealSource-MiMLS
• 2025-05-13 Price Changed $200,000 REALCOMP
• 2025-03-19 Price Changed $220,000 MiRealSource-MiMLS
• 2025-03-18 Price Changed $220,000 REALCOMP
• 2025-02-20 Listed $225,000 MiRealSource-MiMLS
• 2025-02-14 Listed $225,000 REALCOMP
• 2004-02-09 Sold (Public Records) $134,000 Public Records

Property tax history

+8.3%/yr

Latest (2025): $3,274 · +9.2% YoY. Source: county tax records.