26433 Summerdale Dr · Southfield, MI 48033

$150,000

2 bd · 2.5 ba · 1,381 sqft · Condo public records · 23 Days on market

Built 1974 $109/sqft · 46% above area Est $205k · 27% under $540/mo HOA · 32% 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 +15.0/15.0
• Cash flow +7.3/30.0
• 1% rule +6.4/10.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Rent growth +2.0/5.0
• DSCR +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this spacious and beautifully designed condo located in the heart of Southfield! This well-maintained condo features 3 bedrooms, 2.5 baths, and a layout that offers both comfort and functionality. The large living room and dining room combination creates the perfect space for entertaining or relaxing, while the spacious eat-in kitchen comes complete with appliances and plenty of room for everyday dining. A convenient first-floor laundry room adds to the home's practicality. One of the standout features of this condo is the finished basement, which includes the 3rd bedroom and an open staircase concept that connects the lower level to the main living area, creating a bright and inviting extension of the home's overall living space. The finished basement adds an additional 1300 square feet of living space. Additional highlights include an attached garage and access to the community's in-ground pool - perfect for enjoying the upcoming summer season! Don't miss the opportunity to own this spacious condo with great living space and wonderful community amenities in a desirable Southfield location. Property being sold as-is.

Key facts

• Attached garage
• Finished basement
• In ground pool

Tags

• FINISHED BASEMENT
• FIRST FLOOR LAUNDRY ROOM
• ATTACHED GARAGE
• IN GROUND POOL
• OPEN STAIRCASE CONCEPT

Property features AI

Finance

• Other: Property taxes listed (amount available but excluded per instructions)
• HOA & community: Homeowners association with monthly fee; Monthly association fee of $540; HOA covers grounds and structure maintenance, snow removal, trash, and water

Exterior

• Parking: Attached garage (1 car)
• Utilities: Circuit breaker electrical service; Public water available; Public sewer available
• Home design: One-level entry (ground level with steps); Condominium (residential); One story
• Construction: Brick construction; Block foundation
• Exterior features: Patio; Terrace; Paved road access; Pets allowed

Interior

• Kitchen: Dishwasher; Free-standing gas range; Free-standing refrigerator
• Bedrooms: 7 total rooms (includes bedrooms and living spaces)
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Finished full basement; Gas water heater; Dishwasher; Free-standing gas range; Free-standing refrigerator; Laundry room
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $150k.

Deal economics

• At list price, monthly cash flow is $-201 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $114k (23.7% below list).
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $114k (23.7% below list) — sets the bar for cash-flow.

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: Rents soft (-2.0%/yr); 80 active listings in the ZIP; 5 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).
• This rent runs 34% of the median local income ($61k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k 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 23 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 4 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 $43k; list at $150k implies a 249% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 32% of rent.

Recommended offer $114,452 (23.7% 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. Built in 1974 — 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. 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?
7. 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?
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: 1.14% ✓
• Cap rate: 4.68%
• Cash-on-cash: -5.75%
• DSCR: 0.74
• GRM: 7.3

CMA / ARV

• ARV (median comp): $204,994
• List price: $150,000
• Delta: -26.83%
• 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: -31.4%
• Equity multiple: 0.01×
• Total profit: $-41,776
• Equity at exit: $22,365

10-year hold

• IRR: -72.3%
• Equity multiple: -0.69×
• Total profit: $-70,798
• Equity at exit: $12,969

Cash invested: $42,000 (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 48033

• Rents YoY: -2.0%
• Active inventory: 80
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,704 high
• Mortgage (P&I): −$787
• Tax from tax record: −$158 /mo · $1,897/yr
• Insurance: −$62
• HOA: −$540
• Vacancy / Maint / Mgmt: −$358
• Net cashflow: $-201

Break-even live

Break-even rent $1,958

Max offer price $114,452

Occupancy floor —

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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
26565 Stanford Dr E Southfield, MI	2.0–3.0	1.5–2.5	1230	$1,755	$1.43	2d	5	0.14mi
25936 Franklin Pointe Dr Unit 1 Southfield, MI	3.0	2.0	1536	$1,850	$1.20	15d	1	1.13mi
28509 Franklin Rd Southfield, MI	1.0–3.0	1.0–2.5	1150	$2,164	$1.88	2d	27	1.25mi
28675 Franklin Rd Southfield, MI	2.0	1.0–2.0	933	$1,778	$1.91	44d	1	1.25mi
27525 Franklin Rd Southfield, MI	1.0–2.0	1.0–2.0	975	$1,879	$1.93	2d	20	1.26mi

HOA detail condo

• Monthly dues: $540 · $6,480/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 12 events

1. 2026-06-04
   status $150,000 Pending 23 DOM
2. 2026-06-03
   days on market $150,000 Active 23 DOM

   Show marketing remark (1148 chars)

   Welcome to this spacious and beautifully designed condo located in the heart of Southfield! This well-maintained condo features 3 bedrooms, 2.5 baths, and a layout that offers both comfort and functionality. The large living room and dining room combination creates the perfect space for entertaining or relaxing, while the spacious eat-in kitchen comes complete with appliances and plenty of room for everyday dining. A convenient first-floor laundry room adds to the home's practicality. One of the standout features of this condo is the finished basement, which includes the 3rd bedroom and an open staircase concept that connects the lower level to the main living area, creating a bright and inviting extension of the home's overall living space. The finished basement adds an additional 1300 square feet of living space. Additional highlights include an attached garage and access to the community's in-ground pool - perfect for enjoying the upcoming summer season! Don't miss the opportunity to own this spacious condo with great living space and wonderful community amenities in a desirable Southfield location. Property being sold as-is.

3. 2026-06-02
   days on market $150,000 Active 22 DOM
4. 2026-06-01
   days on market $150,000 Active 21 DOM
5. 2026-05-31
   days on market $150,000 Active 20 DOM
6. 2026-05-13
   status Active 1148-char remark

   Show marketing remark (1148 chars)

   Welcome to this spacious and beautifully designed condo located in the heart of Southfield! This well-maintained condo features 3 bedrooms, 2.5 baths, and a layout that offers both comfort and functionality. The large living room and dining room combination creates the perfect space for entertaining or relaxing, while the spacious eat-in kitchen comes complete with appliances and plenty of room for everyday dining. A convenient first-floor laundry room adds to the home's practicality. One of the standout features of this condo is the finished basement, which includes the 3rd bedroom and an open staircase concept that connects the lower level to the main living area, creating a bright and inviting extension of the home's overall living space. The finished basement adds an additional 1300 square feet of living space. Additional highlights include an attached garage and access to the community's in-ground pool - perfect for enjoying the upcoming summer season! Don't miss the opportunity to own this spacious condo with great living space and wonderful community amenities in a desirable Southfield location. Property being sold as-is.

7. 2026-05-13
   status Active 1176-char remark

   Show marketing remark (1148 chars)

   Welcome to this spacious and beautifully designed condo located in the heart of Southfield! This well-maintained condo features 3 bedrooms, 2.5 baths, and a layout that offers both comfort and functionality. The large living room and dining room combination creates the perfect space for entertaining or relaxing, while the spacious eat-in kitchen comes complete with appliances and plenty of room for everyday dining. A convenient first-floor laundry room adds to the home's practicality. One of the standout features of this condo is the finished basement, which includes the 3rd bedroom and an open staircase concept that connects the lower level to the main living area, creating a bright and inviting extension of the home's overall living space. The finished basement adds an additional 1300 square feet of living space. Additional highlights include an attached garage and access to the community's in-ground pool - perfect for enjoying the upcoming summer season! Don't miss the opportunity to own this spacious condo with great living space and wonderful community amenities in a desirable Southfield location. Property being sold as-is.

8. 2026-05-13
   historical Accepting Backup Offers 1148-char remark

   Show marketing remark (1148 chars)

   Welcome to this spacious and beautifully designed condo located in the heart of Southfield! This well-maintained condo features 3 bedrooms, 2.5 baths, and a layout that offers both comfort and functionality. The large living room and dining room combination creates the perfect space for entertaining or relaxing, while the spacious eat-in kitchen comes complete with appliances and plenty of room for everyday dining. A convenient first-floor laundry room adds to the home's practicality. One of the standout features of this condo is the finished basement, which includes the 3rd bedroom and an open staircase concept that connects the lower level to the main living area, creating a bright and inviting extension of the home's overall living space. The finished basement adds an additional 1300 square feet of living space. Additional highlights include an attached garage and access to the community's in-ground pool - perfect for enjoying the upcoming summer season! Don't miss the opportunity to own this spacious condo with great living space and wonderful community amenities in a desirable Southfield location. Property being sold as-is.

9. 2026-05-13
   historical Active Under Contract 1176-char remark

   Show marketing remark (1148 chars)

   Welcome to this spacious and beautifully designed condo located in the heart of Southfield! This well-maintained condo features 3 bedrooms, 2.5 baths, and a layout that offers both comfort and functionality. The large living room and dining room combination creates the perfect space for entertaining or relaxing, while the spacious eat-in kitchen comes complete with appliances and plenty of room for everyday dining. A convenient first-floor laundry room adds to the home's practicality. One of the standout features of this condo is the finished basement, which includes the 3rd bedroom and an open staircase concept that connects the lower level to the main living area, creating a bright and inviting extension of the home's overall living space. The finished basement adds an additional 1300 square feet of living space. Additional highlights include an attached garage and access to the community's in-ground pool - perfect for enjoying the upcoming summer season! Don't miss the opportunity to own this spacious condo with great living space and wonderful community amenities in a desirable Southfield location. Property being sold as-is.

10. 2026-05-11
    listed $150,000 Active 1176-char remark

    Show marketing remark (1148 chars)

    Welcome to this spacious and beautifully designed condo located in the heart of Southfield! This well-maintained condo features 3 bedrooms, 2.5 baths, and a layout that offers both comfort and functionality. The large living room and dining room combination creates the perfect space for entertaining or relaxing, while the spacious eat-in kitchen comes complete with appliances and plenty of room for everyday dining. A convenient first-floor laundry room adds to the home's practicality. One of the standout features of this condo is the finished basement, which includes the 3rd bedroom and an open staircase concept that connects the lower level to the main living area, creating a bright and inviting extension of the home's overall living space. The finished basement adds an additional 1300 square feet of living space. Additional highlights include an attached garage and access to the community's in-ground pool - perfect for enjoying the upcoming summer season! Don't miss the opportunity to own this spacious condo with great living space and wonderful community amenities in a desirable Southfield location. Property being sold as-is.

11. 2026-05-11
    listed $150,000 Active 1148-char remark

    Show marketing remark (1148 chars)

    Welcome to this spacious and beautifully designed condo located in the heart of Southfield! This well-maintained condo features 3 bedrooms, 2.5 baths, and a layout that offers both comfort and functionality. The large living room and dining room combination creates the perfect space for entertaining or relaxing, while the spacious eat-in kitchen comes complete with appliances and plenty of room for everyday dining. A convenient first-floor laundry room adds to the home's practicality. One of the standout features of this condo is the finished basement, which includes the 3rd bedroom and an open staircase concept that connects the lower level to the main living area, creating a bright and inviting extension of the home's overall living space. The finished basement adds an additional 1300 square feet of living space. Additional highlights include an attached garage and access to the community's in-ground pool - perfect for enjoying the upcoming summer season! Don't miss the opportunity to own this spacious condo with great living space and wonderful community amenities in a desirable Southfield location. Property being sold as-is.

12. 2011-06-23
    soldstatus $43,000

ⓘ 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: $1,897 · $158/mo
• Projected year-2 tax: $2,104 · $175/mo
• Expected delta: +$206/yr (+$17/mo · 10.9%)

ⓘ 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: $20,445
• − Mortgage interest: −$8,402
• − Property taxes: −$1,897
• − Insurance: −$750
• − Repairs & maintenance: −$1,636
• − Management: −$1,636
• − HOA: −$6,480
• − Depreciation: −$4,364
• Taxable loss: −$4,719
• Est. tax savings @ 24.0%: +$1,133
• After-tax cash flow: $-1,282/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
• County: Oakland County · 1,009,092 people
• City population: 54,914
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 17,277
• Household income: $61,016
• Rent vs Own: 48.1% rent · 51.9% own
• Severe rent burden: 1166.0

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: Predominantly Black (68%)
• Race & ethnicity: Black 68% White 24% Two or more races 6% Asian 2% Hispanic / Latino 1%
• Common ancestry: Romanian 3% Scotch-Irish 1% Slovak 1%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Spanish 1% Arabic 1% Russian/Polish/Slavic 1%

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: ▼ -175.44%
• Current HPI: 187.5011
• Rent YoY: ▼ -1.96%
• 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

+248.8% since first listed

9 events — show timeline

• 2026-06-03 Pending — MiRealSource-MiMLS
• 2026-06-03 Pending — REALCOMP
• 2026-05-13 Relisted — MiRealSource-MiMLS
• 2026-05-13 Relisted — REALCOMP
• 2026-05-13 Contingent — MiRealSource-MiMLS
• 2026-05-13 Contingent — REALCOMP
• 2026-05-11 Listed $150,000 REALCOMP
• 2026-05-11 Listed $150,000 MiRealSource-MiMLS
• 2011-06-23 Sold (Public Records) $43,000 Public Records

Property tax history

+1.6%/yr

Latest (2025): $1,897 · +0.9% YoY. Source: county tax records.