1723 E 14 Mile Rd · Birmingham, MI 48009

$134,900

1 bd · 1.0 ba · 581 sqft · Condo public records · 25 Days on market

Built 1963 $350/mo HOA · 22% of rent

---

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 +15.5/30.0
• ARV discount +7.5/15.0
• 1% rule +6.9/10.0
• Schools +6.1/10.0
• DSCR +4.8/10.0
• Livability +4.4/5.0
• Rent growth +3.4/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Corporate owned. Sold as-is. Unit B. This property is approved for Express Path Funding, contact listing agent for info.

Key facts

• Private balcony
• Swimming pool
• First floor unit

Tags

• FIRST FLOOR UNIT
• PRIVATE BALCONY
• SWIMMING POOL

Property features AI

Finance

• Other: Pets allowed — contact association for details
• Financial info: Annual tax amount listed (financial specifics provided)
• HOA & community: Homeowners association with monthly fee of $350; HOA covers grounds and structure maintenance, snow removal, and trash; Community amenities include a pool (community in-ground pool)

Exterior

• Parking: Parking details not provided
• Security: No security features listed
• Utilities: Public water; Public sewer
• Home design: Condominium (residential); One-level
• Construction: Brick construction
• Exterior features: Balcony; Paved road access

Interior

• Kitchen: Oven; Range; Refrigerator; Gas water heater
• Bedrooms: Total of 3 rooms (bedrooms/rooms total listed as 3)
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating (natural gas); Wall/window air conditioning unit(s)
• Interior features: Eat-in kitchen; Balcony access from interior (balcony listed under exterior features)
• Laundry & utility: Has basement (utility/storage space)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $135k.

Deal economics

• At list price, monthly cash flow is $54 ($650/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $135k).
• Recommended offer: $133k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.8% vs local median 1.5% in Birmingham — 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 88/100 on livability (#12 in MI, #200 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, amenities A+; Watch: cost of living F.
• Birmingham Public Schools (suburban): math 58% / reading 71% proficiency, ranked #18 of 540 in MI (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 6% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+3.8%/yr); 211 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent is only 13% of the median local income ($153k/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 $933 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 25 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 27y 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 $67k; list at $135k implies a 101% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.

Recommended offer $132,876 (1.5% below list)

Questions for the listing agent

1. Built in 1963 — 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 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?
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: 1.19% ✓
• Cap rate: 6.77%
• Cash-on-cash: 1.72%
• DSCR: 1.08
• GRM: 7.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.75% rent growth · sell at horizon

5-year hold

• IRR: -12.3%
• Equity multiple: 0.55×
• Total profit: $-17,000
• Equity at exit: $20,114

10-year hold

• IRR: -1.7%
• Equity multiple: 0.88×
• Total profit: $-4,503
• Equity at exit: $11,664

Cash invested: $37,772 (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 48009

• Rents YoY: 3.8%
• Active inventory: 211
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,600 high
• Mortgage (P&I): −$707
• Tax from tax record: −$96 /mo · $1,152/yr
• Insurance: −$56
• HOA: −$350
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $54

Break-even live

Break-even rent $1,531

Max offer price $134,900

Occupancy floor 92%

Sensitivity live

Price	-10% $131	-5% $92	+0% $54	+5% $16	+10% $-22
Rent	-10% $-72	-5% $-9	+0% $54	+5% $117	+10% $181
Rate	-1.0pp $122	-0.5pp $88	base $54	+0.5pp $19	+1.0pp $-16

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: $33,725
• Closing costs: $4,047
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1707 E 14 Mile Rd Unit B Birmingham, MI	1.0	1.0	581	$1,325	$2.28	25d	1	0.03mi
1709 E 14 Mile Rd Unit A Birmingham, MI	1.0	1.0	581	$1,350	$2.32	25d	1	0.04mi
520 S Adams Rd Apt 7 Birmingham, MI	1.0	1.0	650	$1,425	$2.19	21d	1	0.85mi
520 S Adams Rd Birmingham, MI	1.0	1.0	650	$1,425	$2.19	6d	2	0.85mi
650 Ann St Birmingham, MI	1.0	1.0	700	$1,462	$2.09	25d	1	0.94mi
1802 E Maple Rd Birmingham, MI	1.0–2.0	1.0	775	$1,415	$1.83	16d	3	0.96mi
2233 E Maple Rd Unit B301 Birmingham, MI	1.0	1.0	725	$1,395	$1.92	25d	1	1.03mi
411 S Old Woodward Ave Birmingham, MI	1.0–2.0	1.0–2.0	743	$2,300	$3.10	4d	6	1.03mi
2233 E Maple Rd Unit A104 Birmingham, MI	1.0	1.0	725	$1,300	$1.79	25d	1	1.03mi
2233 E Maple Rd Unit D104 Birmingham, MI	1.0	1.0	725	$1,275	$1.76	25d	1	1.03mi
4030 W 13 Mile Rd Unit J2 Royal Oak, MI	2.0	1.0	724	$1,450	$2.00	21d	1	1.03mi
4030 W 13 Mile Rd Unit J2 Royal Oak, MI	2.0	1.0	724	$1,600	$2.21	25d	1	1.03mi
4030 W 13 Mile Rd Unit J2 Royal Oak, MI	2.0	1.0	724	$1,450	$2.00	19d	1	1.03mi
2457 E Maple Rd Birmingham, MI	1.0–2.0	1.0	760	$1,275	$1.68	25d	1	1.06mi
4120 W 13 Mile Rd Royal Oak, MI	1.0–2.0	1.0	775	$1,120	$1.45	0d	4	1.06mi
4312-4316 13 Mile and 3415 Fairmont Royal Oak, MI	1.0	1.0	525	$1,100	$2.10	6d	2	1.06mi
3382 Harvard Rd Royal Oak, MI	1.0	1.0	460	$1,150	$2.50	4d	6	1.08mi
4302 W 13 Mile Rd Royal Oak, MI	1.0	1.0	600	$1,095	$1.82	25d	1	1.08mi
2567 E Maple Rd Unit 5 Birmingham, MI	1.0	1.0	670	$1,225	$1.83	25d	1	1.09mi
2859 E Maple Rd #15 Birmingham, MI	1.0	1.0	685	$1,250	$1.82	6d	1	1.15mi
2859 E Maple Rd #15 Birmingham, MI	1.0	1.0	685	$1,250	$1.82	25d	1	1.15mi
4910 Briarwood Ave Unit A Royal Oak, MI	1.0	1.0	589	$1,200	$2.04	19d	1	1.20mi
444 Chester St #413 Birmingham, MI	1.0	1.0	664	$2,200	$3.31	16d	1	1.30mi
3009 W 13 Mile Rd Royal Oak, MI	1.0–2.0	1.0	730	$1,449	$1.98	0d	27	1.36mi
35300 Woodward Ave #507 Birmingham, MI	1.0	1.0	730	$2,000	$2.74	25d	1	1.38mi
4805 Woodland Ave Royal Oak, MI	2.0	1.0	627	$1,308	$2.08	3d	12	1.40mi
4314 Albert Ave Royal Oak, MI	1.0	1.0	650	$960	$1.48	25d	1	1.41mi
2817 W 13 Mile Rd Royal Oak, MI	2.0	1.0	688	$1,250	$1.82	25d	1	1.43mi

HOA detail condo

• Monthly dues: $350 · $4,200/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 20 events

1. 2026-06-21
   days on market $134,900 Active 25 DOM
2. 2026-06-18
   days on market $134,900 Active 22 DOM
3. 2026-06-17
   days on market $134,900 Active 21 DOM
4. 2026-06-16
   days on market $134,900 Active 20 DOM
5. 2026-06-15
   days on market $134,900 Active 19 DOM
6. 2026-06-13
   days on market $134,900 Active 17 DOM
7. 2026-06-09
   days on market $134,900 Active 13 DOM
8. 2026-06-08
   days on market $134,900 Active 12 DOM
9. 2026-06-07
   days on market $134,900 Active 11 DOM
10. 2026-06-04
    days on market $134,900 Active 8 DOM
11. 2026-06-03
    days on market $134,900 Active 7 DOM
12. 2026-06-02
    days on market $134,900 Active 6 DOM
13. 2026-06-01
    days on market $134,900 Active 5 DOM
14. 2026-05-31
    days on market $134,900 Active 4 DOM
15. 2026-01-28
    listed $139,900 Active
16. 2007-05-30
    soldstatus $67,000 120-char remark

    Show marketing remark (120 chars)

    Corporate owned. Sold as-is. Unit B. This property is approved for Express Path Funding, contact listing agent for info.

17. 2007-02-06
    listed $69,900 120-char remark

    Show marketing remark (120 chars)

    Corporate owned. Sold as-is. Unit B. This property is approved for Express Path Funding, contact listing agent for info.

18. 2002-06-04
    soldstatus $86,000
19. 1999-06-25
    soldstatus $65,000
20. 1999-04-28
    listed $65,000

ⓘ 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: $1,152 · $96/mo
• Projected year-2 tax: $1,615 · $135/mo
• Expected delta: +$462/yr (+$39/mo · 40.1%)

ⓘ 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 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $19,197
• − Mortgage interest: −$7,556
• − Property taxes: −$1,152
• − Insurance: −$674
• − Repairs & maintenance: −$1,536
• − Management: −$1,536
• − HOA: −$4,200
• − Depreciation: −$3,924
• Taxable loss: −$1,382
• Est. tax savings @ 24.0%: +$332
• After-tax cash flow: $982/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: Birmingham Public Schools
• NCES district ID: 2605850
• Math proficiency: 58% ▼ -8.00%
• Reading proficiency: 71% ▼ -3.00%
• Median HH income: $110,445
• Composite: 60.54/100
• National rank: #839
• State rank: #18 of 540 in MI

Livability — Birmingham

• Score: 88/100
• State rank: #12
• US rank: #200

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Birmingham, MI
• County: Oakland County · 1,009,092 people
• City population: 21,772
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 21,772
• Household income: $153,401
• Rent vs Own: 22.9% rent · 77.1% own
• Severe rent burden: 476.0

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 White (84%)
• Race & ethnicity: White 84% Two or more races 6% Asian 5% Hispanic / Latino 4% Black 4%
• Common ancestry: Romanian 8% Lithuanian 3% Scotch-Irish 3%
• Foreign-born: 10% · Canada, South Korea
• Languages at home: 90% English-only · Other Indo-European 3% Arabic 1% Spanish 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: ▼ -644.58%
• Current HPI: 201.3418
• Rent YoY: ▲ 3.75%
• 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

+115.2% since first listed

6 events — show timeline

• 2026-01-28 Listed $139,900 REALCOMP
• 2007-05-30 Sold (MLS) $67,000 REALCOMP
• 2007-02-06 Listed $69,900 REALCOMP
• 2002-06-04 Sold (Public Records) $86,000 Public Records
• 1999-06-25 Sold (MLS) $65,000 REALCOMP
• 1999-04-28 Listed $65,000 REALCOMP

Property tax history

+2.0%/yr

Latest (2025): $1,152 · +2.6% YoY. Source: county tax records.