15048 Fairfield St · Livonia, MI 48154

$121,000

1 bd · 1.0 ba · 698 sqft · Condo public records · 60 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
• 1% rule +7.5/10.0
• ARV discount +7.5/15.0
• 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

Well-maintained 2nd floor condo located in Livonia, MI! This unit features newer flooring, a spacious living area, and abundant natural light throughout. The kitchen offers ample cabinet space and flows seamlessly into the dining area - perfect for everyday living and entertaining. Large bedroom with a generous walk-in closet, plus access to a private rear balcony for outdoor relaxation. Additional features include covered parking, basement storage space, and access to a shared laundry room. Conveniently located near schools, hospitals, golf courses, shopping, public transportation, and major freeways. Association fee includes gas (heat), water, snow removal, and grounds maintenance - providing low-maintenance living at its best!

Key facts

• $292 HOA
• Built 1970
• Listed 59 days

Property features AI

Finance

• Other: Directions: Take Five Mile Rd west of Merriman to Fairfield, go south; Subdivision: WAYNE COUNTY CONDO SUB PLAN 29
• HOA & community: Homeowners association with a monthly fee of $292; HOA fee includes gas, water, sewer, trash, snow removal and grounds maintenance

Exterior

• Parking: Carport (no garage)
• Utilities: Public water; Public sewer
• Home design: Condominium (residential); One level with ground-level entry and steps
• Construction: Brick construction; Block foundation; Built with shingle roof not specified
• Exterior features: Paved road access; Pets: contact association for policy

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating (natural gas); No central cooling
• Interior features: Unfinished basement; Total of 3 rooms

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $121k.

Deal economics

• At list price, monthly cash flow is $134 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $121k).
• Recommended offer: $117k (3.0% below list) — sets the bar for market timing.
• 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 $837 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

• It's been on market 60 days — a 3% lower offer ($117k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y 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 $89k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $117,370 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — 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 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?
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: 1.25% ✓
• Cap rate: 7.62%
• Cash-on-cash: 4.74%
• DSCR: 1.21
• GRM: 6.7

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: $-10,931
• Equity at exit: $18,041

10-year hold

• IRR: 0.9%
• Equity multiple: 1.06×
• Total profit: $2,095
• Equity at exit: $10,462

Cash invested: $33,880 (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: 6.7×

Monthly cashflow live

• Estimated rent: $1,508 medium
• Mortgage (P&I): −$635
• Tax from tax record: −$81 /mo · $971/yr
• Insurance: −$50
• HOA: −$292
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $134

Break-even live

Break-even rent $1,339

Max offer price $121,000

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: $30,250
• Closing costs: $3,630
• Reserves months: —
• Total cash needed: —

HOA detail condo

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

Listing history 30 events

1. 2026-06-18
   days on market $121,000 Active 60 DOM
2. 2026-06-17
   days on market $121,000 Active 59 DOM
3. 2026-06-16
   days on market $121,000 Active 58 DOM
4. 2026-06-15
   days on market $121,000 Active 57 DOM
5. 2026-06-13
   days on market $121,000 Active 55 DOM
6. 2026-06-09
   days on market $121,000 Active 51 DOM
7. 2026-06-08
   days on market $121,000 Active 50 DOM
8. 2026-06-07
   days on market $121,000 Active 49 DOM
9. 2026-06-04
   days on market $121,000 Active 46 DOM
10. 2026-06-03
    days on market $121,000 Active 45 DOM
11. 2026-06-02
    days on market $121,000 Active 44 DOM
12. 2026-06-01
    days on market $121,000 Active 43 DOM
13. 2026-05-31
    days on market $121,000 Active 42 DOM
14. 2026-05-12
    price $121,000 739-char remark

    Show marketing remark (739 chars)

    Well-maintained 2nd floor condo located in Livonia, MI! This unit features newer flooring, a spacious living area, and abundant natural light throughout. The kitchen offers ample cabinet space and flows seamlessly into the dining area - perfect for everyday living and entertaining. Large bedroom with a generous walk-in closet, plus access to a private rear balcony for outdoor relaxation. Additional features include covered parking, basement storage space, and access to a shared laundry room. Conveniently located near schools, hospitals, golf courses, shopping, public transportation, and major freeways. Association fee includes gas (heat), water, snow removal, and grounds maintenance - providing low-maintenance living at its best!

15. 2026-05-11
    price $121,000
16. 2026-04-20
    listed $124,000 Active 739-char remark

    Show marketing remark (739 chars)

    Well-maintained 2nd floor condo located in Livonia, MI! This unit features newer flooring, a spacious living area, and abundant natural light throughout. The kitchen offers ample cabinet space and flows seamlessly into the dining area - perfect for everyday living and entertaining. Large bedroom with a generous walk-in closet, plus access to a private rear balcony for outdoor relaxation. Additional features include covered parking, basement storage space, and access to a shared laundry room. Conveniently located near schools, hospitals, golf courses, shopping, public transportation, and major freeways. Association fee includes gas (heat), water, snow removal, and grounds maintenance - providing low-maintenance living at its best!

17. 2026-04-20
    listed $124,000 Active

    Show marketing remark (739 chars)

    Well-maintained 2nd floor condo located in Livonia, MI! This unit features newer flooring, a spacious living area, and abundant natural light throughout. The kitchen offers ample cabinet space and flows seamlessly into the dining area - perfect for everyday living and entertaining. Large bedroom with a generous walk-in closet, plus access to a private rear balcony for outdoor relaxation. Additional features include covered parking, basement storage space, and access to a shared laundry room. Conveniently located near schools, hospitals, golf courses, shopping, public transportation, and major freeways. Association fee includes gas (heat), water, snow removal, and grounds maintenance - providing low-maintenance living at its best!

18. 2026-04-15
    historical $124,000 739-char remark

    Show marketing remark (739 chars)

    Well-maintained 2nd floor condo located in Livonia, MI! This unit features newer flooring, a spacious living area, and abundant natural light throughout. The kitchen offers ample cabinet space and flows seamlessly into the dining area - perfect for everyday living and entertaining. Large bedroom with a generous walk-in closet, plus access to a private rear balcony for outdoor relaxation. Additional features include covered parking, basement storage space, and access to a shared laundry room. Conveniently located near schools, hospitals, golf courses, shopping, public transportation, and major freeways. Association fee includes gas (heat), water, snow removal, and grounds maintenance - providing low-maintenance living at its best!

19. 2022-05-19
    soldstatus $89,000
20. 2022-05-06
    soldstatus $89,000 Sold 337-char remark

    Show marketing remark (337 chars)

    GREAT LOCATION AND IMMACULATELY MAINTAINED 2ND FLOOR CONDO. APPLIANCES STAY, LARGE WALK-IN CLOSET IN BEDROOM, COMMON BASEMENT, LAUNDRY AREA W/ LOCKED STORAGE AREA. ASSOCIATION FEE INCLUDES GAS FOR HEAT AND HOT WATER. WALKING DISTANCE TO RECREATION CENTER, SENIOR CENTER, CITY HALL AND LIBRARY. JUST ADD YOUR TOUCHES AND MOVE IN! NO PETS.

21. 2022-05-06
    soldstatus $89,000 Closed

    Show marketing remark (337 chars)

    GREAT LOCATION AND IMMACULATELY MAINTAINED 2ND FLOOR CONDO. APPLIANCES STAY, LARGE WALK-IN CLOSET IN BEDROOM, COMMON BASEMENT, LAUNDRY AREA W/ LOCKED STORAGE AREA. ASSOCIATION FEE INCLUDES GAS FOR HEAT AND HOT WATER. WALKING DISTANCE TO RECREATION CENTER, SENIOR CENTER, CITY HALL AND LIBRARY. JUST ADD YOUR TOUCHES AND MOVE IN! NO PETS.

22. 2022-04-21
    status Pending

    Show marketing remark (337 chars)

    GREAT LOCATION AND IMMACULATELY MAINTAINED 2ND FLOOR CONDO. APPLIANCES STAY, LARGE WALK-IN CLOSET IN BEDROOM, COMMON BASEMENT, LAUNDRY AREA W/ LOCKED STORAGE AREA. ASSOCIATION FEE INCLUDES GAS FOR HEAT AND HOT WATER. WALKING DISTANCE TO RECREATION CENTER, SENIOR CENTER, CITY HALL AND LIBRARY. JUST ADD YOUR TOUCHES AND MOVE IN! NO PETS.

23. 2022-04-21
    status Pending 337-char remark

    Show marketing remark (337 chars)

    GREAT LOCATION AND IMMACULATELY MAINTAINED 2ND FLOOR CONDO. APPLIANCES STAY, LARGE WALK-IN CLOSET IN BEDROOM, COMMON BASEMENT, LAUNDRY AREA W/ LOCKED STORAGE AREA. ASSOCIATION FEE INCLUDES GAS FOR HEAT AND HOT WATER. WALKING DISTANCE TO RECREATION CENTER, SENIOR CENTER, CITY HALL AND LIBRARY. JUST ADD YOUR TOUCHES AND MOVE IN! NO PETS.

24. 2022-04-15
    status Active 337-char remark

    Show marketing remark (337 chars)

    GREAT LOCATION AND IMMACULATELY MAINTAINED 2ND FLOOR CONDO. APPLIANCES STAY, LARGE WALK-IN CLOSET IN BEDROOM, COMMON BASEMENT, LAUNDRY AREA W/ LOCKED STORAGE AREA. ASSOCIATION FEE INCLUDES GAS FOR HEAT AND HOT WATER. WALKING DISTANCE TO RECREATION CENTER, SENIOR CENTER, CITY HALL AND LIBRARY. JUST ADD YOUR TOUCHES AND MOVE IN! NO PETS.

25. 2022-04-12
    historical 337-char remark

    Show marketing remark (337 chars)

    GREAT LOCATION AND IMMACULATELY MAINTAINED 2ND FLOOR CONDO. APPLIANCES STAY, LARGE WALK-IN CLOSET IN BEDROOM, COMMON BASEMENT, LAUNDRY AREA W/ LOCKED STORAGE AREA. ASSOCIATION FEE INCLUDES GAS FOR HEAT AND HOT WATER. WALKING DISTANCE TO RECREATION CENTER, SENIOR CENTER, CITY HALL AND LIBRARY. JUST ADD YOUR TOUCHES AND MOVE IN! NO PETS.

26. 2022-03-02
    price $95,000
27. 2022-03-01
    price $95,000 337-char remark

    Show marketing remark (337 chars)

    GREAT LOCATION AND IMMACULATELY MAINTAINED 2ND FLOOR CONDO. APPLIANCES STAY, LARGE WALK-IN CLOSET IN BEDROOM, COMMON BASEMENT, LAUNDRY AREA W/ LOCKED STORAGE AREA. ASSOCIATION FEE INCLUDES GAS FOR HEAT AND HOT WATER. WALKING DISTANCE TO RECREATION CENTER, SENIOR CENTER, CITY HALL AND LIBRARY. JUST ADD YOUR TOUCHES AND MOVE IN! NO PETS.

28. 2022-02-26
    listed $110,000 Active 337-char remark

    Show marketing remark (337 chars)

    GREAT LOCATION AND IMMACULATELY MAINTAINED 2ND FLOOR CONDO. APPLIANCES STAY, LARGE WALK-IN CLOSET IN BEDROOM, COMMON BASEMENT, LAUNDRY AREA W/ LOCKED STORAGE AREA. ASSOCIATION FEE INCLUDES GAS FOR HEAT AND HOT WATER. WALKING DISTANCE TO RECREATION CENTER, SENIOR CENTER, CITY HALL AND LIBRARY. JUST ADD YOUR TOUCHES AND MOVE IN! NO PETS.

29. 2022-02-26
    listed $110,000 Active

    Show marketing remark (337 chars)

    GREAT LOCATION AND IMMACULATELY MAINTAINED 2ND FLOOR CONDO. APPLIANCES STAY, LARGE WALK-IN CLOSET IN BEDROOM, COMMON BASEMENT, LAUNDRY AREA W/ LOCKED STORAGE AREA. ASSOCIATION FEE INCLUDES GAS FOR HEAT AND HOT WATER. WALKING DISTANCE TO RECREATION CENTER, SENIOR CENTER, CITY HALL AND LIBRARY. JUST ADD YOUR TOUCHES AND MOVE IN! NO PETS.

30. 2005-11-22
    soldstatus $68,000

ⓘ 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: $971 · $81/mo
• Projected year-2 tax: $1,417 · $118/mo
• Expected delta: +$446/yr (+$37/mo · 45.9%)

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

Taxation est. · year 1

• Rental income: $18,101
• − Mortgage interest: −$6,778
• − Property taxes: −$971
• − Insurance: −$605
• − Repairs & maintenance: −$1,448
• − Management: −$1,448
• − HOA: −$3,504
• − Depreciation: −$3,520
• Taxable loss: −$174
• Est. tax savings @ 24.0%: +$42
• After-tax cash flow: $1,646/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

+77.9% since first listed

17 events — show timeline

• 2026-05-12 Price Changed $121,000 MiRealSource-MiMLS
• 2026-05-11 Price Changed $121,000 REALCOMP
• 2026-04-20 Listed $124,000 MiRealSource-MiMLS
• 2026-04-20 Listed $124,000 REALCOMP
• 2026-04-15 Coming Soon $124,000 MiRealSource-MiMLS
• 2022-05-19 Sold (Public Records) $89,000 Public Records
• 2022-05-06 Sold (MLS) $89,000 MiRealSource-MiMLS
• 2022-05-06 Sold (MLS) $89,000 REALCOMP
• 2022-04-21 Pending — MiRealSource-MiMLS
• 2022-04-21 Pending — REALCOMP
• 2022-04-15 Relisted — REALCOMP
• 2022-04-12 Listing Removed — REALCOMP
• 2022-03-02 Price Changed $95,000 MiRealSource-MiMLS
• 2022-03-01 Price Changed $95,000 REALCOMP
• 2022-02-26 Listed $110,000 MiRealSource-MiMLS
• 2022-02-26 Listed $110,000 REALCOMP
• 2005-11-22 Sold (Public Records) $68,000 Public Records

Property tax history

+5.1%/yr

Latest (2025): $971 · -44.2% YoY. Source: county tax records.