16815 Dover Dr #146 · Northville, MI 48168

$269,000

2 bd · 2.0 ba · 1,653 sqft · Condo · 36 Days on market

Built 2004 Good condition $163/sqft · at area comps Est $276k · at est. $350/mo HOA · 11% 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 +18.2/30.0
• ARV discount +8.7/15.0
• Schools +6.6/10.0
• 1% rule +6.5/10.0
• DSCR +5.7/10.0
• Livability +4.4/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to one of the best locations available with wooded privacy and seasonal pond views. This serene location offers outstanding views of wildlife. The upgraded kitchen features large countertops and stainless steel appliances. Plenty of kitchen cabinets and a large pantry allow for gourmet-style cooking. Enjoy the beautiful sun-drenched vaulted ceiling Great Room, which offers a cozy fireplace and walkout to a covered balcony. This larger unit also includes a dining area for larger gatherings. The primary bedroom includes a raised ceiling and private bath, plus a large walk-in closet. Generous-size guest bedroom also features a large walk-in closet plus a full bath just outside the door. Spacious laundry room with additional closet space. Convenient attached garage with water and an electronic door opener. Enjoy this open concept floor plan designed for luxury living. Also, included is the wonderful clubhouse with a pool and recreation area. Truly a rare find with this premium unit location. Don't miss it.

Key facts

• Large countertops
• Seasonal pond views
• Upgraded kitchen

Tags

• SEASONAL POND VIEWS
• UPGRADED KITCHEN
• LARGE COUNTERTOPS
• STAINLESS STEEL APPLIANCES
• LARGE PANTRY
• SUN-DRENCHED VAULTED CEILING

Property features AI

Finance

• Other: Private maintained and paved road frontage; Pets allowed — contact for details; Subdivision: WAYNE COUNTY CONDO SUB PLAN NO 672
• HOA & community: Homeowners association with monthly fee of $350; HOA covers grounds maintenance, structure maintenance, snow removal, trash, and water

Exterior

• Parking: Attached garage with direct access; Garage faces side; Garage door opener (1 garage space)
• Utilities: Public water; Public sewer
• Home design: Condominium; One level; Ground-level entry
• Construction: Brick construction; Asphalt roof; Slab foundation; Built as a residential condominium
• Exterior features: Balcony; Private entrance; Porch; Exterior lighting; Pond on the property

Interior

• Kitchen: Built-in electric range; Microwave; Dishwasher; Disposal; Free-standing refrigerator; Stainless steel appliances
• Bedrooms: Total of 6 rooms (see floor plan for bedroom breakdown)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air; Ceiling fans; Forced air heating (natural gas); Exhaust fan
• Interior features: Entrance foyer; High-speed internet; Smart thermostat; Fireplace in the great room; Unfurnished
• Laundry & utility: Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $269k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $240 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $269k).
• Recommended offer: $261k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 2.4% in Northville — 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 (#13 in MI, #205 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, amenities A+; Watch: commute F.
• Northville Public Schools (suburban): math 68% / reading 75% proficiency, ranked #4 of 540 in MI (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 4% free/reduced lunch — higher-income household profile.
• Market conditions: 145 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $2k of loan paydown is wiped out by about $8k 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

• It's been on market 36 days — a 3% lower offer ($261k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask is 12127% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $260,930 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 1.15% ✓
• Cap rate: 7.36%
• Cash-on-cash: 3.82%
• DSCR: 1.17
• GRM: 7.2

CMA / ARV

• ARV (median comp): $276,261
• List price: $269,000
• Delta: -2.63%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -10.2%
• Equity multiple: 0.63×
• Total profit: $-28,042
• Equity at exit: $40,109

10-year hold

• IRR: -0.7%
• Equity multiple: 0.95×
• Total profit: $-3,672
• Equity at exit: $23,258

Cash invested: $75,320 (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 48168

• Active inventory: 145
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $3,100 medium
• Mortgage (P&I): −$1,411
• Tax est. 1.5%: −$336 /mo · $4,035/yr
• Insurance: −$112
• HOA: −$350
• Vacancy / Maint / Mgmt: −$651
• Net cashflow: $240

Break-even live

Break-even rent $2,796

Max offer price $269,000

Occupancy floor 87%

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
47671 Alden Ter N Northville, MI	3.0	3.5	2085	$3,100	$1.49	10d	1	1.11mi

HOA detail condo

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

Listing history 21 events

1. 2026-06-18
   days on market $269,000 Active 36 DOM
2. 2026-06-17
   days on market $269,000 Active 35 DOM
3. 2026-06-16
   days on market $269,000 Active 34 DOM
4. 2026-06-15
   days on market $269,000 Active 33 DOM
5. 2026-06-13
   days on market $269,000 Active 31 DOM
6. 2026-06-09
   days on market $269,000 Active 27 DOM
7. 2026-06-08
   days on market $269,000 Active 26 DOM
8. 2026-06-07
   days on market $269,000 Active 25 DOM
9. 2026-06-04
   days on market $269,000 Active 22 DOM
10. 2026-06-03
    days on market $269,000 Active 21 DOM
11. 2026-06-02
    days on market $269,000 Active 20 DOM
12. 2026-06-01
    days on market $269,000 Active 19 DOM
13. 2026-05-31
    days on market $269,000 Active 18 DOM
14. 2026-05-13
    listed $269,000 Active 1031-char remark

    Show marketing remark (1030 chars)

    Welcome home to one of the best locations available with wooded privacy and seasonal pond views. This serene location offers outstanding views of wildlife. The upgraded kitchen features large countertops and stainless steel appliances. Plenty of kitchen cabinets and a large pantry allow for gourmet-style cooking. Enjoy the beautiful sun-drenched vaulted ceiling Great Room, which offers a cozy fireplace and walkout to a covered balcony. This larger unit also includes a dining area for larger gatherings. The primary bedroom includes a raised ceiling and private bath, plus a large walk-in closet. Generous-size guest bedroom also features a large walk-in closet plus a full bath just outside the door. Spacious laundry room with additional closet space. Convenient attached garage with water and an electronic door opener. Enjoy this open concept floor plan designed for luxury living. Also, included is the wonderful clubhouse with a pool and recreation area. Truly a rare find with this premium unit location. Don't miss it.

15. 2026-05-13
    historical

    Show marketing remark (1030 chars)

    Welcome home to one of the best locations available with wooded privacy and seasonal pond views. This serene location offers outstanding views of wildlife. The upgraded kitchen features large countertops and stainless steel appliances. Plenty of kitchen cabinets and a large pantry allow for gourmet-style cooking. Enjoy the beautiful sun-drenched vaulted ceiling Great Room, which offers a cozy fireplace and walkout to a covered balcony. This larger unit also includes a dining area for larger gatherings. The primary bedroom includes a raised ceiling and private bath, plus a large walk-in closet. Generous-size guest bedroom also features a large walk-in closet plus a full bath just outside the door. Spacious laundry room with additional closet space. Convenient attached garage with water and an electronic door opener. Enjoy this open concept floor plan designed for luxury living. Also, included is the wonderful clubhouse with a pool and recreation area. Truly a rare find with this premium unit location. Don't miss it.

16. 2026-05-13
    listed $269,000 Active

    Show marketing remark (1030 chars)

    Welcome home to one of the best locations available with wooded privacy and seasonal pond views. This serene location offers outstanding views of wildlife. The upgraded kitchen features large countertops and stainless steel appliances. Plenty of kitchen cabinets and a large pantry allow for gourmet-style cooking. Enjoy the beautiful sun-drenched vaulted ceiling Great Room, which offers a cozy fireplace and walkout to a covered balcony. This larger unit also includes a dining area for larger gatherings. The primary bedroom includes a raised ceiling and private bath, plus a large walk-in closet. Generous-size guest bedroom also features a large walk-in closet plus a full bath just outside the door. Spacious laundry room with additional closet space. Convenient attached garage with water and an electronic door opener. Enjoy this open concept floor plan designed for luxury living. Also, included is the wonderful clubhouse with a pool and recreation area. Truly a rare find with this premium unit location. Don't miss it.

17. 2026-05-13
    historical

    Show marketing remark (1030 chars)

    Welcome home to one of the best locations available with wooded privacy and seasonal pond views. This serene location offers outstanding views of wildlife. The upgraded kitchen features large countertops and stainless steel appliances. Plenty of kitchen cabinets and a large pantry allow for gourmet-style cooking. Enjoy the beautiful sun-drenched vaulted ceiling Great Room, which offers a cozy fireplace and walkout to a covered balcony. This larger unit also includes a dining area for larger gatherings. The primary bedroom includes a raised ceiling and private bath, plus a large walk-in closet. Generous-size guest bedroom also features a large walk-in closet plus a full bath just outside the door. Spacious laundry room with additional closet space. Convenient attached garage with water and an electronic door opener. Enjoy this open concept floor plan designed for luxury living. Also, included is the wonderful clubhouse with a pool and recreation area. Truly a rare find with this premium unit location. Don't miss it.

18. 2026-03-12
    price $275,000
19. 2026-03-12
    price $275,000
20. 2026-01-11
    listed $279,000 Active
21. 2026-01-11
    listed $279,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $37,200
• − Mortgage interest: −$15,068
• − Property taxes: −$4,035
• − Insurance: −$1,345
• − Repairs & maintenance: −$2,976
• − Management: −$2,976
• − HOA: −$4,200
• − Depreciation: −$7,825
• Taxable loss: −$1,226
• Est. tax savings @ 24.0%: +$294
• After-tax cash flow: $3,174/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.

Condition & rehab AI · 6 photos

Good 75/100 Cosmetic rehab

This well-maintained and updated condo is in good condition with a good ROI potential for both resale and rental markets.

Value-add opportunities

• Both Paint exterior trim — Enhances curb appeal and can increase both resale and rental value.
• Both Clean gutters — Improves drainage and can prevent water damage, increasing both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior trim — Enhances curb appeal and can increase both resale and rental value. ↑
• Both Clean gutters — Improves drainage and can prevent water damage, increasing both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Northville Public Schools
• NCES district ID: 2625980
• Math proficiency: 68% ▼ -5.00%
• Reading proficiency: 75% ▼ -4.00%
• Median HH income: $108,824
• Composite: 66.21/100
• National rank: #431
• State rank: #4 of 540 in MI

Livability — Northville

• Score: 88/100
• State rank: #13
• US rank: #205

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• City population: 24,713
• Population (ZIP): 25,039

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 (72%)
• Race & ethnicity: White 72% Asian 19% Two or more races 5% Hispanic / Latino 4% Black 2%
• Common ancestry: Romanian 9% Italian 3% Lithuanian 3%
• Foreign-born: 20% · Canada, China, Jamaica
• Languages at home: 77% English-only · Other Indo-European 7% Other Asian/Pacific 5% Chinese 3%

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: ▼ -198.06%
• Current HPI: 176.9122
• 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

-99.2% since first listed

11 events — show timeline

• 2026-06-14 Listed for Rent $2,200 REALSOURCE
• 2026-06-14 Rental Removed $2,200 REALCOMP
• 2026-06-12 Listed for Rent $2,200 REALCOMP
• 2026-05-13 Listed $269,000 REALCOMP
• 2026-05-13 Listing Removed — REALCOMP
• 2026-05-13 Listed $269,000 MiRealSource-MiMLS
• 2026-05-13 Listing Removed — MiRealSource-MiMLS
• 2026-03-12 Price Changed $275,000 MiRealSource-MiMLS
• 2026-03-12 Price Changed $275,000 REALCOMP
• 2026-01-11 Listed $279,000 REALCOMP
• 2026-01-11 Listed $279,000 MiRealSource-MiMLS