15118 Fairfield St · Livonia, MI 48154

$128,000

1 bd · 1.0 ba · 698 sqft · Condo public records · 4 Days on market

Built 1970 $292/mo HOA · 19% of rent

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Why this score? — see what drove the C- 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 +19.3/30.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• DSCR +6.1/10.0
• Schools +4.6/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step into this beautifully updated 1-bedroom, 1-bathroom condo that perfectly blends comfort and style. Featuring stunning bamboo flooring throughout, this home offers a modern, cohesive look with durability to match. The bright and inviting living space flows effortlessly, creating an ideal setting for both relaxing and entertaining. The updated kitchen boasts sleek finishes and ample cabinetry, while the spacious bedroom provides a peaceful retreat with generous closet space. The refreshed bathroom showcases contemporary fixtures and clean design. Loads of storage inside the unit, as well as a storage unit In basement, along with an additional shared large space for gatherings or storage larger items such as bikes or furniture. Whether you're a first-time buyer, downsizing, or looking for a low-maintenance lifestyle, this move-in-ready condo delivers convenience and charm in every detail. This quiet, second floor unit is conveniently located close to great restaurants, the popular Livonia Recreation Center, police and fire. The low HOA includes heat and water, and all outside maintenance! Your monthly mortgage payment with HOA could be below $1000, lower than rent!

Key facts

• $292 HOA
• Built 1970
• Listed 4 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $128k.

Deal economics

• At list price, monthly cash flow is $141 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $128k).
• Cap rate 7.6% vs local median 4.9% in Livonia — 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 77/100 on livability (#116 in MI, #2,784 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities D, health & safety D, commute F.
• Livonia Public Schools School District (urban): math 46% / reading 59% proficiency, ranked #77 of 540 in MI (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 102 active listings in the ZIP; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $885 of loan paydown is wiped out by about $4k 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.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 23y 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.
• Current owner paid $27k; list at $128k implies a 374% gain — meaningful room to come down on a strong offer.

Recommended offer $128,000

Questions for the listing agent

1. Built in 1970 — 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 B-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?
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: 1.18% ✓
• Cap rate: 7.62%
• Cash-on-cash: 4.72%
• DSCR: 1.21
• GRM: 7.1

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: -8.8%
• Equity multiple: 0.68×
• Total profit: $-11,633
• Equity at exit: $19,085

10-year hold

• IRR: 0.8%
• Equity multiple: 1.05×
• Total profit: $1,945
• Equity at exit: $11,067

Cash invested: $35,840 (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 48154

• Active inventory: 102
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,508 medium
• Mortgage (P&I): −$671
• Tax from tax record: −$34 /mo · $408/yr
• Insurance: −$53
• HOA: −$292
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $141

Break-even live

Break-even rent $1,330

Max offer price $128,000

Occupancy floor 86%

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: $32,000
• Closing costs: $3,840
• Reserves months: —
• Total cash needed: —

HOA detail condo

• Monthly dues: $292 · $3,504/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-04-11
   status Pending 1185-char remark

   Show marketing remark (1185 chars)

   Step into this beautifully updated 1-bedroom, 1-bathroom condo that perfectly blends comfort and style. Featuring stunning bamboo flooring throughout, this home offers a modern, cohesive look with durability to match. The bright and inviting living space flows effortlessly, creating an ideal setting for both relaxing and entertaining. The updated kitchen boasts sleek finishes and ample cabinetry, while the spacious bedroom provides a peaceful retreat with generous closet space. The refreshed bathroom showcases contemporary fixtures and clean design. Loads of storage inside the unit, as well as a storage unit In basement, along with an additional shared large space for gatherings or storage larger items such as bikes or furniture. Whether you're a first-time buyer, downsizing, or looking for a low-maintenance lifestyle, this move-in-ready condo delivers convenience and charm in every detail. This quiet, second floor unit is conveniently located close to great restaurants, the popular Livonia Recreation Center, police and fire. The low HOA includes heat and water, and all outside maintenance! Your monthly mortgage payment with HOA could be below $1000, lower than rent!

2. 2026-04-11
   status Pending

   Show marketing remark (1185 chars)

   Step into this beautifully updated 1-bedroom, 1-bathroom condo that perfectly blends comfort and style. Featuring stunning bamboo flooring throughout, this home offers a modern, cohesive look with durability to match. The bright and inviting living space flows effortlessly, creating an ideal setting for both relaxing and entertaining. The updated kitchen boasts sleek finishes and ample cabinetry, while the spacious bedroom provides a peaceful retreat with generous closet space. The refreshed bathroom showcases contemporary fixtures and clean design. Loads of storage inside the unit, as well as a storage unit In basement, along with an additional shared large space for gatherings or storage larger items such as bikes or furniture. Whether you're a first-time buyer, downsizing, or looking for a low-maintenance lifestyle, this move-in-ready condo delivers convenience and charm in every detail. This quiet, second floor unit is conveniently located close to great restaurants, the popular Livonia Recreation Center, police and fire. The low HOA includes heat and water, and all outside maintenance! Your monthly mortgage payment with HOA could be below $1000, lower than rent!

3. 2026-04-08
   listed $128,000 Active 1185-char remark

   Show marketing remark (1185 chars)

   Step into this beautifully updated 1-bedroom, 1-bathroom condo that perfectly blends comfort and style. Featuring stunning bamboo flooring throughout, this home offers a modern, cohesive look with durability to match. The bright and inviting living space flows effortlessly, creating an ideal setting for both relaxing and entertaining. The updated kitchen boasts sleek finishes and ample cabinetry, while the spacious bedroom provides a peaceful retreat with generous closet space. The refreshed bathroom showcases contemporary fixtures and clean design. Loads of storage inside the unit, as well as a storage unit In basement, along with an additional shared large space for gatherings or storage larger items such as bikes or furniture. Whether you're a first-time buyer, downsizing, or looking for a low-maintenance lifestyle, this move-in-ready condo delivers convenience and charm in every detail. This quiet, second floor unit is conveniently located close to great restaurants, the popular Livonia Recreation Center, police and fire. The low HOA includes heat and water, and all outside maintenance! Your monthly mortgage payment with HOA could be below $1000, lower than rent!

4. 2026-04-08
   listed $128,000 Active

   Show marketing remark (1185 chars)

   Step into this beautifully updated 1-bedroom, 1-bathroom condo that perfectly blends comfort and style. Featuring stunning bamboo flooring throughout, this home offers a modern, cohesive look with durability to match. The bright and inviting living space flows effortlessly, creating an ideal setting for both relaxing and entertaining. The updated kitchen boasts sleek finishes and ample cabinetry, while the spacious bedroom provides a peaceful retreat with generous closet space. The refreshed bathroom showcases contemporary fixtures and clean design. Loads of storage inside the unit, as well as a storage unit In basement, along with an additional shared large space for gatherings or storage larger items such as bikes or furniture. Whether you're a first-time buyer, downsizing, or looking for a low-maintenance lifestyle, this move-in-ready condo delivers convenience and charm in every detail. This quiet, second floor unit is conveniently located close to great restaurants, the popular Livonia Recreation Center, police and fire. The low HOA includes heat and water, and all outside maintenance! Your monthly mortgage payment with HOA could be below $1000, lower than rent!

5. 2026-04-06
   historical $128,000 1185-char remark

   Show marketing remark (1185 chars)

   Step into this beautifully updated 1-bedroom, 1-bathroom condo that perfectly blends comfort and style. Featuring stunning bamboo flooring throughout, this home offers a modern, cohesive look with durability to match. The bright and inviting living space flows effortlessly, creating an ideal setting for both relaxing and entertaining. The updated kitchen boasts sleek finishes and ample cabinetry, while the spacious bedroom provides a peaceful retreat with generous closet space. The refreshed bathroom showcases contemporary fixtures and clean design. Loads of storage inside the unit, as well as a storage unit In basement, along with an additional shared large space for gatherings or storage larger items such as bikes or furniture. Whether you're a first-time buyer, downsizing, or looking for a low-maintenance lifestyle, this move-in-ready condo delivers convenience and charm in every detail. This quiet, second floor unit is conveniently located close to great restaurants, the popular Livonia Recreation Center, police and fire. The low HOA includes heat and water, and all outside maintenance! Your monthly mortgage payment with HOA could be below $1000, lower than rent!

6. 2012-12-07
   soldstatus $27,000
7. 2012-05-31
   soldstatus $22,000
8. 2012-05-17
   soldstatus $22,000 308-char remark

   Show marketing remark (308 chars)

   BETTER THAN RENTING-DISHWASHER-LAUNDRY RM IN COMMON BASEMENT. LARGE BRIGHT WINDOWS MAKE THIS A CHEERY CONDO W/ BALCONY TO ENJOY THE SUMMER WEATHER. GREAT LOCATION! CARPORT INCLUDED-HUGE WALK-IN CLOSET. THIS IS AN ESTATE SALE (NO PROBLEM) & SHORT SALE. BRING ALL OFFERS. LOCK-BOX FOR EASY SHOWINGS. .. .

9. 2012-05-17
   soldstatus $22,000

   Show marketing remark (308 chars)

   BETTER THAN RENTING-DISHWASHER-LAUNDRY RM IN COMMON BASEMENT. LARGE BRIGHT WINDOWS MAKE THIS A CHEERY CONDO W/ BALCONY TO ENJOY THE SUMMER WEATHER. GREAT LOCATION! CARPORT INCLUDED-HUGE WALK-IN CLOSET. THIS IS AN ESTATE SALE (NO PROBLEM) & SHORT SALE. BRING ALL OFFERS. LOCK-BOX FOR EASY SHOWINGS. .. .

10. 2012-05-03
    historical 308-char remark

    Show marketing remark (308 chars)

    BETTER THAN RENTING-DISHWASHER-LAUNDRY RM IN COMMON BASEMENT. LARGE BRIGHT WINDOWS MAKE THIS A CHEERY CONDO W/ BALCONY TO ENJOY THE SUMMER WEATHER. GREAT LOCATION! CARPORT INCLUDED-HUGE WALK-IN CLOSET. THIS IS AN ESTATE SALE (NO PROBLEM) & SHORT SALE. BRING ALL OFFERS. LOCK-BOX FOR EASY SHOWINGS. .. .

11. 2012-05-03
    historical

    Show marketing remark (308 chars)

    BETTER THAN RENTING-DISHWASHER-LAUNDRY RM IN COMMON BASEMENT. LARGE BRIGHT WINDOWS MAKE THIS A CHEERY CONDO W/ BALCONY TO ENJOY THE SUMMER WEATHER. GREAT LOCATION! CARPORT INCLUDED-HUGE WALK-IN CLOSET. THIS IS AN ESTATE SALE (NO PROBLEM) & SHORT SALE. BRING ALL OFFERS. LOCK-BOX FOR EASY SHOWINGS. .. .

12. 2011-07-01
    listed $29,900 308-char remark

    Show marketing remark (308 chars)

    BETTER THAN RENTING-DISHWASHER-LAUNDRY RM IN COMMON BASEMENT. LARGE BRIGHT WINDOWS MAKE THIS A CHEERY CONDO W/ BALCONY TO ENJOY THE SUMMER WEATHER. GREAT LOCATION! CARPORT INCLUDED-HUGE WALK-IN CLOSET. THIS IS AN ESTATE SALE (NO PROBLEM) & SHORT SALE. BRING ALL OFFERS. LOCK-BOX FOR EASY SHOWINGS. .. .

13. 2011-07-01
    listed $29,900

    Show marketing remark (308 chars)

    BETTER THAN RENTING-DISHWASHER-LAUNDRY RM IN COMMON BASEMENT. LARGE BRIGHT WINDOWS MAKE THIS A CHEERY CONDO W/ BALCONY TO ENJOY THE SUMMER WEATHER. GREAT LOCATION! CARPORT INCLUDED-HUGE WALK-IN CLOSET. THIS IS AN ESTATE SALE (NO PROBLEM) & SHORT SALE. BRING ALL OFFERS. LOCK-BOX FOR EASY SHOWINGS. .. .

14. 2004-02-25
    soldstatus $78,000
15. 2003-11-27
    historical
16. 2003-10-27
    listed $87,500

ⓘ 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: $408 · $34/mo
• Projected year-2 tax: $1,190 · $99/mo
• Expected delta: +$782/yr (+$65/mo · 191.7%)

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

Taxation est. · year 1

• Rental income: $18,101
• − Mortgage interest: −$7,170
• − Property taxes: −$408
• − Insurance: −$640
• − Repairs & maintenance: −$1,448
• − Management: −$1,448
• − HOA: −$3,504
• − Depreciation: −$3,724
• Taxable loss: −$241
• Est. tax savings @ 24.0%: +$58
• After-tax cash flow: $1,750/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: Livonia Public Schools School District
• NCES district ID: 2621840
• Math proficiency: 46% ▼ -5.00%
• Reading proficiency: 59% ▬ 0.00%
• Median HH income: $65,268
• Composite: 46.27/100
• National rank: #2480
• State rank: #77 of 540 in MI

Livability — Livonia

• Score: 77/100
• State rank: #116
• US rank: #2784

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Livonia, MI
• City population: 56,806
• Population (ZIP): 36,915

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: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 6% Hispanic / Latino 4% Black 4% Asian 2%
• Common ancestry: Romanian 13% Lithuanian 4% Italian 3%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Other Indo-European 3% Arabic 2% Spanish 2%

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: ▼ -263.93%
• Current HPI: 192.3426
• 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

+46.3% since first listed

16 events — show timeline

• 2026-04-11 Pending — MiRealSource-MiMLS
• 2026-04-11 Pending — REALCOMP
• 2026-04-08 Listed $128,000 MiRealSource-MiMLS
• 2026-04-08 Listed $128,000 REALCOMP
• 2026-04-06 Coming Soon $128,000 MiRealSource-MiMLS
• 2012-12-07 Sold (Public Records) $27,000 Public Records
• 2012-05-31 Sold (Public Records) $22,000 Public Records
• 2012-05-17 Sold (MLS) $22,000 MiRealSource-MiMLS
• 2012-05-17 Sold (MLS) $22,000 REALCOMP
• 2012-05-03 Listing Removed — MiRealSource-MiMLS
• 2012-05-03 Listing Removed — REALCOMP
• 2011-07-01 Listed $29,900 MiRealSource-MiMLS
• 2011-07-01 Listed $29,900 REALCOMP
• 2004-02-25 Sold (Public Records) $78,000 Public Records
• 2003-11-27 Listing Removed — REALCOMP
• 2003-10-27 Listed $87,500 REALCOMP

Property tax history

-2.8%/yr

Latest (2025): $408 · -44.2% YoY. Source: county tax records.