5317 Fairway Ln · West Bloomfield, MI 48323

$328,000

3 bd · 2.5 ba · 2,770 sqft · Condo public records · 27 Days on market

Built 1973 $398/mo HOA · 12% 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).

• Cash flow +12.5/30.0
• ARV discount +7.5/15.0
• 1% rule +4.9/10.0
• Schools +4.5/10.0
• DSCR +3.7/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This condo is ready to go, large master bedroom with jacuzzi tub, 3 bedroom, 3.5 baths, deck over looking pool, finished walkout basement with patio. This is a must see. 1 mo rent. 1-1.5 mo sec dep. $150 cleaning fee. $30 app fee. Renters ins req.

Key facts

• New carpet
• New flooring
• Walk in closets

Tags

• JACUZZI TUB
• WALK IN CLOSETS
• DECK OVERLOOKING POOL
• FINISHED WALKOUT BASEMENT
• NEW FLOORING
• NEW CARPET

Property features AI

Finance

• HOA & community: Homeowners association with a monthly fee of $398

Exterior

• Parking: Attached garage with approximately 2.5 garage spaces
• Utilities: Public water; Public sewer
• Home design: Condominium (residential); Two levels; Ground-level entry with steps
• Construction: Brick and wood siding exterior
• Exterior features: Paved road access; Lot dimensions approximately 50 x 50

Interior

• Kitchen: Built-in electric range; Refrigerator (free-standing)
• Bedrooms: Total of 5 rooms (bedroom count not specified separately)
• Bathrooms: 3 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Finished basement; Built-in electric range; Washer; Dryer; Free-standing refrigerator
• Laundry & utility: Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $328k.

Deal economics

• At list price, monthly cash flow is $-50 ($-604/yr) — negative.
• To cash-flow at today's rent, offer at most $319k (2.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $324k (1.2% below list).
• Recommended offer: $319k (2.7% below list) — sets the bar for cash-flow.

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: 138 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $2k of loan paydown is wiped out by about $10k 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 27 days — a 2% lower offer ($323k) is reasonable based on typical stale-listing flexibility.
• 19 sale attempts since 26y 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 $1k; list at $328k implies a 23329% gain — meaningful room to come down on a strong offer.

Recommended offer $319,114 (2.7% 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 1973 — 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. 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?
7. 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.
8. 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.
9. 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: 0.99% ✗
• Cap rate: 6.11%
• Cash-on-cash: -0.66%
• DSCR: 0.97
• GRM: 8.4

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: -17.3%
• Equity multiple: 0.39×
• Total profit: $-56,093
• Equity at exit: $48,906

10-year hold

• IRR: -9.1%
• Equity multiple: 0.43×
• Total profit: $-51,912
• Equity at exit: $28,359

Cash invested: $91,840 (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 48323

• Active inventory: 138
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $3,241 medium
• Mortgage (P&I): −$1,720
• Tax from tax record: −$356 /mo · $4,275/yr
• Insurance: −$137
• HOA: −$398
• Vacancy / Maint / Mgmt: −$681
• Net cashflow: $-50

Break-even live

Break-even rent $3,305

Max offer price $319,114

Occupancy floor 97%

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: $82,000
• Closing costs: $9,840
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6322 Aspen Ridge Blvd West Bloomfield, MI	2.0	2.5	2391	$3,500	$1.46	2d	1	1.26mi
6628 Heather Heath West Bloomfield, MI	4.0	2.5	2604	$3,000	$1.15	10d	1	1.28mi

HOA detail condo

• Monthly dues: $398 · $4,776/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 49 events

1. 2026-06-09
   days on market $328,000 Active 27 DOM
2. 2026-06-08
   days on market $328,000 Active 26 DOM
3. 2026-06-07
   days on market $328,000 Active 25 DOM
4. 2026-06-04
   days on market $328,000 Active 22 DOM
5. 2026-06-03
   days on market $328,000 Active 21 DOM
6. 2026-06-02
   days on market $328,000 Active 20 DOM
7. 2026-06-01
   days on market $328,000 Active 19 DOM
8. 2026-05-31
   days on market $328,000 Active 18 DOM
9. 2026-05-13
   listed $328,000 Active 359-char remark
10. 2026-05-13
    listed $328,000 Active 359-char remark
11. 2022-03-16
    price $1,700
12. 2022-03-04
    price $1,700
13. 2014-12-12
    soldstatus $1,400

    Show marketing remark (247 chars)

    This condo is ready to go, large master bedroom with jacuzzi tub, 3 bedroom, 3.5 baths, deck over looking pool, finished walkout basement with patio. This is a must see. 1 mo rent. 1-1.5 mo sec dep. $150 cleaning fee. $30 app fee. Renters ins req.

14. 2014-12-03
    historical

    Show marketing remark (247 chars)

    This condo is ready to go, large master bedroom with jacuzzi tub, 3 bedroom, 3.5 baths, deck over looking pool, finished walkout basement with patio. This is a must see. 1 mo rent. 1-1.5 mo sec dep. $150 cleaning fee. $30 app fee. Renters ins req.

15. 2014-11-12
    listed $1,400

    Show marketing remark (247 chars)

    This condo is ready to go, large master bedroom with jacuzzi tub, 3 bedroom, 3.5 baths, deck over looking pool, finished walkout basement with patio. This is a must see. 1 mo rent. 1-1.5 mo sec dep. $150 cleaning fee. $30 app fee. Renters ins req.

16. 2009-02-13
    soldstatus $82,000
17. 2009-02-13
    soldstatus $82,000
18. 2008-12-04
    historical
19. 2008-05-03
    historical
20. 2007-05-09
    listed $81,000
21. 2007-05-09
    listed $81,000
22. 2007-05-03
    listed $165,000
23. 2007-04-26
    historical
24. 2006-08-25
    listed $229,900
25. 2006-08-13
    historical
26. 2006-03-14
    listed $244,000
27. 2006-01-15
    historical
28. 2005-10-18
    listed $244,000
29. 2005-10-08
    historical
30. 2005-04-11
    listed $244,000
31. 2001-08-10
    soldstatus $257,000
32. 2001-06-28
    soldstatus $257,000
33. 2001-05-10
    listed $260,000
34. 2001-05-10
    historical
35. 2001-04-09
    listed $267,000
36. 2001-04-09
    historical
37. 2001-03-22
    historical
38. 2001-03-19
    listed $269,900
39. 2001-03-19
    listed $265,000
40. 2001-03-19
    historical
41. 2001-02-28
    listed $269,900
42. 2001-02-24
    historical
43. 2000-10-29
    listed $274,900
44. 2000-10-04
    historical
45. 2000-10-04
    historical
46. 2000-09-18
    listed $282,400
47. 2000-06-27
    listed $282,500
48. 2000-06-26
    historical
49. 2000-04-14
    listed $290,000

ⓘ 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: $4,275 · $356/mo
• Projected year-2 tax: $4,663 · $389/mo
• Expected delta: +$388/yr (+$32/mo · 9.1%)

ⓘ 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 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: $38,897
• − Mortgage interest: −$18,373
• − Property taxes: −$4,275
• − Insurance: −$1,640
• − Repairs & maintenance: −$3,112
• − Management: −$3,112
• − HOA: −$4,776
• − Depreciation: −$9,542
• Taxable loss: −$5,933
• Est. tax savings @ 24.0%: +$1,424
• After-tax cash flow: $820/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

• City population: 49,983
• Population (ZIP): 17,043

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 (77%)
• Race & ethnicity: White 77% Black 11% Asian 6% Two or more races 4% Hispanic / Latino 2%
• Common ancestry: Arab 8% Romanian 5% Scotch-Irish 4%
• Foreign-born: 21% · China, Canada, Guatemala
• Languages at home: 75% English-only · Arabic 7% Other Indo-European 4% Russian/Polish/Slavic 2%

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: ▼ -210.13%
• Current HPI: 159.7383
• 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

+13.1% since first listed

42 events — show timeline

• 2026-06-11 Listing Removed — MiRealSource-MiMLS
• 2026-05-13 Listed $328,000 REALCOMP
• 2026-05-13 Listed $328,000 MiRealSource-MiMLS
• 2022-03-16 Price Changed $1,700 RENT.
• 2022-03-04 Price Changed $1,700 RENT.
• 2014-12-12 Sold (MLS) $1,400 MiRealSource-MiMLS
• 2014-12-03 Listing Removed — MiRealSource-MiMLS
• 2014-11-12 Listed $1,400 MiRealSource-MiMLS
• 2009-02-13 Sold (MLS) $82,000 MiRealSource-MiMLS
• 2009-02-13 Sold (MLS) $82,000 REALCOMP
• 2008-12-04 Listing Removed — MiRealSource-MiMLS
• 2008-05-03 Listing Removed — REALCOMP
• 2007-05-09 Listed $81,000 MiRealSource-MiMLS
• 2007-05-09 Listed $81,000 REALCOMP
• 2007-05-03 Listed $165,000 REALCOMP
• 2007-04-26 Listing Removed — MiRealSource-MiMLS
• 2006-08-25 Listed $229,900 MiRealSource-MiMLS
• 2006-08-13 Listing Removed — MiRealSource-MiMLS
• 2006-03-14 Listed $244,000 MiRealSource-MiMLS
• 2006-01-15 Listing Removed — MiRealSource-MiMLS
• 2005-10-18 Listed $244,000 MiRealSource-MiMLS
• 2005-10-08 Listing Removed — MiRealSource-MiMLS
• 2005-04-11 Listed $244,000 MiRealSource-MiMLS
• 2001-08-10 Sold (Public Records) $257,000 Public Records
• 2001-06-28 Sold (MLS) $257,000 REALCOMP
• 2001-05-10 Listing Removed — REALCOMP
• 2001-05-10 Listed $260,000 REALCOMP
• 2001-04-09 Listing Removed — REALCOMP
• 2001-04-09 Listed $267,000 REALCOMP
• 2001-03-22 Listing Removed — REALCOMP
• 2001-03-19 Listing Removed — REALCOMP
• 2001-03-19 Listed $265,000 REALCOMP
• 2001-03-19 Listed $269,900 REALCOMP
• 2001-02-28 Listed $269,900 REALCOMP
• 2001-02-24 Listing Removed — REALCOMP
• 2000-10-29 Listed $274,900 REALCOMP
• 2000-10-04 Listing Removed — REALCOMP
• 2000-10-04 Listing Removed — REALCOMP
• 2000-09-18 Listed $282,400 REALCOMP
• 2000-06-27 Listed $282,500 REALCOMP
• 2000-06-26 Listing Removed — REALCOMP
• 2000-04-14 Listed $290,000 REALCOMP

Property tax history

+2.7%/yr

Latest (2025): $4,275 · +2.9% YoY. Source: county tax records.