305 N Eton St · Birmingham, MI 48009

$179,900

1 bd · 1.0 ba · 660 sqft · SingleFamily · 10 Days on market

Built 1961 Good condition 1.12 ac lot $273/sqft · 46% below area Est $332k · 46% under $400/mo HOA · 25% of rent

---

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
• Schools +6.7/10.0
• Cash flow +5.8/30.0
• Livability +4.4/5.0
• 1% rule +4.0/10.0
• Condition / age +4.0/5.0
• Rent growth +3.4/5.0
• DSCR +0.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Bright, open ranch condo with a spacious 1-bedroom layout and private balcony. Enjoy abundant natural light, an in-unit washer/dryer, private storage, and water included in the HOA. Relax all summer at the community pool, or take a short walk to Pembroke Park, Whole Foods, shopping, and dining. Located just over a mile from Downtown Birmingham, this move-in ready condo is perfect for first-time buyers, downsizers, or anyone seeking a low-maintenance lifestyle.

Key facts

• Move-in ready
• Community pool
• Private balcony

Tags

• PRIVATE BALCONY
• IN-UNIT WASHER DRYER
• PRIVATE STORAGE
• COMMUNITY POOL
• MOVE-IN READY

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $180k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-363 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $127k (29.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $162k (9.9% below list).
• Recommended offer: $127k (29.2% below list) — sets the bar for cash-flow.
• Cap rate 3.9% vs local median 2.5% 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); 124 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals lingering (median 85d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 83% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $5k 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

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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.

Risks & watch-outs

• Watch-outs: HOA is 25% of rent.

Recommended offer $127,372 (29.2% 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 1961 — 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. 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. 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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.90% ✗
• Cap rate: 3.87%
• Cash-on-cash: -8.65%
• DSCR: 0.62
• GRM: 9.3

CMA / ARV

• ARV (median comp): $332,394
• List price: $179,900
• Delta: -45.88%
• Verdict: UNDERPRICED
• Comps: 7 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
301 N Eton St Unit B	0.02mi	1/1.0	660 (0%)	6mo	$178,000	$270	94
411 S Old Woodward Ave #821	0.79mi	1/1.0	645 (-2%)	5mo	$345,000	$535	57
2440 Parmenter Blvd #204	1.43mi	1/1.0	693 (+5%)	1mo	$110,000	$159	56
2400 Parmenter Blvd #104	1.47mi	1/1.0	693 (+5%)	1mo	$115,000	$166	56
2405 Torquay Ave #206	1.38mi	1/1.0	693 (+5%)	4mo	$122,220	$176	53
411 S Old Woodward Ave #907	0.79mi	1/1.0	615 (-7%)	5mo	$290,000	$472	50
1727 E 14 Mile Rd	1.15mi	1/1.0	581 (-12%)	7mo	$120,000	$207	39
411 S Old Woodward Ave #815	0.79mi	1/1.0	519 (-21%)	3mo	$299,900	$578	38
4715 Coolidge Hwy #1	1.34mi	2/1.0 (+1)	754 (+14%)	3mo	$137,000	$182	34
1451 E 14 Mile Rd	1.18mi	2/1.0 (+1)	740 (+12%)	9mo	$255,000	$345	32
2405 Torquay Ave #108	1.38mi	2/1.0 (+1)	807 (+22%)	6mo	$130,000	$161	30
4715 Coolidge Hwy #5	1.34mi	2/1.0 (+1)	754 (+14%)	8mo	$123,000	$163	30

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -30.2%
• Equity multiple: -0.01×
• Total profit: $-50,769
• Equity at exit: $26,824

10-year hold

• IRR: -26.8%
• Equity multiple: -0.34×
• Total profit: $-67,749
• Equity at exit: $15,554

Cash invested: $50,372 (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: 124
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,621 high
• Mortgage (P&I): −$943
• Tax est. 1.5%: −$225 /mo · $2,698/yr
• Insurance: −$75
• HOA: −$400
• Vacancy / Maint / Mgmt: −$340
• Net cashflow: $-363

Break-even live

Break-even rent $2,080

Max offer price $127,372

Occupancy floor —

Sensitivity live

Price	-10% $-239	-5% $-301	+0% $-363	+5% $-425	+10% $-487
Rent	-10% $-491	-5% $-427	+0% $-363	+5% $-299	+10% $-235
Rate	-1.0pp $-272	-0.5pp $-317	base $-363	+0.5pp $-410	+1.0pp $-457

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: $44,975
• Closing costs: $5,397
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2233 E Maple Rd Unit A104 Birmingham, MI	1.0	1.0	725	$1,245	$1.72	34d	1	0.21mi
2233 E Maple Rd Unit A102 Birmingham, MI	1.0	1.0	725	$1,225	$1.69	5d	1	0.21mi
2233 E Maple Rd Unit D104 Birmingham, MI	1.0	1.0	725	$1,275	$1.76	120d	1	0.21mi
2233 E Maple Rd Unit B301 Birmingham, MI	1.0	1.0	725	$1,395	$1.92	120d	1	0.21mi
2233 E Maple Rd Unit C304 Birmingham, MI	1.0	1.0	725	$1,345	$1.86	5d	1	0.21mi
1997 Villa Rd Birmingham, MI	1.0–2.0	1.0–1.5	875	$1,375	$1.57	0d	9	0.25mi
2457 E Maple Rd Birmingham, MI	1.0–2.0	1.0	760	$1,275	$1.68	120d	1	0.30mi
2567 E Maple Rd Unit 5 Birmingham, MI	1.0	1.0	670	$1,200	$1.79	84d	1	0.37mi
2859 E Maple Rd #15 Birmingham, MI	1.0	1.0	685	$1,250	$1.82	100d	1	0.50mi
2859 E Maple Rd #3 Birmingham, MI	1.0	1.0	635	$1,400	$2.20	44d	1	0.50mi
2859 E Maple Rd #15 Birmingham, MI	1.0	1.0	685	$1,250	$1.82	120d	1	0.50mi
520 S Adams Rd Birmingham, MI	1.0	1.0	650	$1,307	$2.01	30d	1	0.58mi
520 S Adams Rd Apt 7 Birmingham, MI	1.0	1.0	650	$1,425	$2.19	116d	1	0.58mi
1244 Holland St Birmingham, MI	2.0	1.0	708	$1,800	$2.54	42d	1	0.64mi
411 S Old Woodward Ave Birmingham, MI	1.0–2.0	1.0–2.0	743	$2,300	$3.10	93d	5	0.79mi
35300 Woodward Ave #507 Birmingham, MI	1.0	1.0	730	$2,000	$2.74	120d	1	0.79mi
400 S Old Woodward Ave Birmingham, MI	1.0–2.0	1.0–2.5	1224	$2,750	$2.25	54d	4	0.85mi
650 Ann St Birmingham, MI	1.0	1.0	700	$1,462	$2.09	42d	1	0.88mi
1707 E 14 Mile Rd Unit B Birmingham, MI	1.0	1.0	581	$1,325	$2.28	120d	1	1.14mi
1709 E 14 Mile Rd Unit A Birmingham, MI	1.0	1.0	581	$1,350	$2.32	120d	1	1.15mi
444 Chester St Birmingham, MI	1.0–2.0	1.0–2.0	664	$1,750	$2.64	18d	2	1.15mi
1727 E 14 Mile Rd Birmingham, MI	1.0	1.0	581	$1,450	$2.50	85d	1	1.15mi
2420 Parmenter Blvd Royal Oak, MI	1.0–2.0	1.0–1.5	690	$1,395	$2.02	83d	2	1.46mi

Property features AI

Finance

• Other: Directions: East of Coolidge, North of MapleSubdivision: NORTH ETON SQUARE CONDO OCCPN 1791
• Financial info: Annual tax noted (for reference)
• HOA & community: Homeowners association with monthly fee of $400

Exterior

• Parking: No garage
• Utilities: Public waterPublic sewer
• Home design: Single-family residenceOne storyBrick exterior
• Construction: Brick constructionHome warranty included
• Exterior features: Paved road accessLot approximately 1.12 acres (211 x 213)

Interior

• Bedrooms: 1 room total (studio/open layout)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas)No central cooling
• Interior features: Unfinished basementGround-level entry

HOA detail $400/mo · $4,800/yr

• Likely covers: waterpool

Listing history 9 events

1. 2026-06-09
   days on market $179,900 Active 10 DOM
2. 2026-06-08
   days on market $179,900 Active 9 DOM
3. 2026-06-07
   days on market $179,900 Active 8 DOM
4. 2026-06-04
   days on market $179,900 Active 5 DOM
5. 2026-06-03
   days on market $179,900 Active 4 DOM
6. 2026-06-02
   days on market $179,900 Active 3 DOM
7. 2026-06-01
   days on market $179,900 Active 2 DOM
8. 2026-05-31
   remarks 464-char remark
9. 2026-05-31
   listed $179,900 Active 1 DOM

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

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: $19,447
• − Mortgage interest: −$10,077
• − Property taxes: −$2,698
• − Insurance: −$900
• − Repairs & maintenance: −$1,556
• − Management: −$1,556
• − HOA: −$4,800
• − Depreciation: −$5,233
• Taxable loss: −$7,373
• Est. tax savings @ 24.0%: +$1,770
• After-tax cash flow: $-2,586/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 · 12 photos

Good 80/100 None rehab

This move-in ready condo is in good condition with minor repairs needed in the kitchen and bathroom. Upgrades to the exterior and HVAC system can significantly increase its value.

Repairs flagged

• Minor kitchen countertops — Worn appearance
• Minor bathroom tile — Worn appearance

Value-add opportunities

• Resale Paint exterior walls — Enhances curb appeal and can add value ↑
• Resale Replace worn kitchen countertops — Improves functionality and aesthetics ↑
• Resale Replace worn bathroom tile — Improves functionality and aesthetics ↑
• Both Upgrade HVAC system — Improves comfort and energy efficiency ↑

C Composite school gradezoned avg 66/100

Zoned Schools

Elementary Pembroke Elementary School B MI #160/1,397 Nat'l #6,217/41,679 Middle Derby Middle School B+ MI #51/493 Nat'l #1,738/14,009 High Ernest W Seaholm High School A- MI #11/713 Nat'l #1,362/17,239

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

A Composite livability gradescore 88/100

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 · 1,335,747 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: 6% of renters

---

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

Property features AI

Finance

• Other: Directions: East of Coolidge, North of MapleSubdivision: NORTH ETON SQUARE CONDO OCCPN 1791
• Financial info: Annual tax noted (for reference)
• HOA & community: Homeowners association with monthly fee of $400

Exterior

• Parking: No garage
• Utilities: Public waterPublic sewer
• Home design: Single-family residenceOne storyBrick exterior
• Construction: Brick constructionHome warranty included
• Exterior features: Paved road accessLot approximately 1.12 acres (211 x 213)

Interior

• Bedrooms: 1 room total (studio/open layout)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas)No central cooling
• Interior features: Unfinished basementGround-level entry

Price history

+0.0% since first listed

4 events — show timeline

• 2026-06-10 Listing Removed — MiRealSource-MiMLS
• 2026-06-10 Listing Removed — REALCOMP
• 2026-05-29 Listed $179,900 MiRealSource-MiMLS
• 2026-05-29 Listed $179,900 REALCOMP