179 E Long Lake Rd · Bloomfield Hills, MI 48304

$318,800

3 bd · 2.5 ba · 2,131 sqft · Condo public records · 45 Days on market

Built 1972 $350/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 +12.2/30.0
• ARV discount +7.5/15.0
• Schools +6.5/10.0
• 1% rule +4.5/10.0
• DSCR +3.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunity knocks, rare 3 Bedroom, 2.1 bath Bloomfield Hills End Unit Condo. Peninsula kitchen open to nook with studio ceiling. Expansive family room with doorwall overlooking wooded backyard, cozy fireplace, opens to dining room. Study features built in shelving. Primary suite boasts studio ceiling, fireplace and private bath. Additional bedrooms generous. Partially finished basement with egress window. Location, Location close shopping, recreation and entertainment. Note there will be a roof assessment in 2027 in the amount of $2,500.00. Price accordingly to allow for updates. All M & D and taxes are approximate.

Key facts

• Peninsula kitchen
• Wooded backyard
• Built in shelving

Tags

• PENINSULA KITCHEN
• WOODED BACKYARD
• COZY FIREPLACE
• BUILT IN SHELVING
• PRIVATE BATH
• PARTIALLY FINISHED BASEMENT

Property features AI

Finance

• HOA & community: Homeowners association with $350 monthly fee; HOA fee includes trash and water

Exterior

• Parking: Attached garage with direct access; 2 garage spaces
• Utilities: Public sewer; Other water source
• Home design: Residential condominium; Two levels
• Construction: Brick and vinyl siding exterior
• Exterior features: Paved road access; Pets allowed

Interior

• Kitchen: Built-in electric oven; Electric cooktop; Dishwasher
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No central air cooling
• Interior features: Fireplace in family room and master bedroom; Partially finished basement; Ground-level entry; Total of 8 rooms
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $319k.

Deal economics

• At list price, monthly cash flow is $-62 ($-749/yr) — negative.
• To cash-flow at today's rent, offer at most $308k (3.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $304k (4.7% below list).
• Recommended offer: $304k (4.7% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 0.8% in Bloomfield Hills — 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 72/100 on livability (#263 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A-; Watch: commute D+, amenities F, cost of living F.
• Bloomfield Hills Schools (suburban): math 65% / reading 74% proficiency, ranked #5 of 540 in MI (top 1%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Eastover Elementary School (math 82% / reading 77%, grade A, #21 of 1,397 statewide, top 2%, 456 students, 16% FRL); East Hills Middle School (math 62% / reading 70%, grade A-, #35 of 493 statewide, top 7%, 571 students, 16% FRL); Bloomfield Hills High School (math 59% / reading 82%, grade B+, #32 of 713 statewide, top 4%, 1,598 students, 14% FRL).
• Market conditions: 132 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 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 45 days — a 3% lower offer ($309k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $23k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $257k; 24% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $303,766 (4.7% 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. It's been on market 45 days. Have you received any prior offers? Is the seller open to a 5% concession, seller financing, or rate buy-down credit?
3. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. 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?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 0.95% ✗
• Cap rate: 6.06%
• Cash-on-cash: -0.84%
• DSCR: 0.96
• GRM: 8.7

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: -17.6%
• Equity multiple: 0.38×
• Total profit: $-55,430
• Equity at exit: $47,534

10-year hold

• IRR: -9.5%
• Equity multiple: 0.41×
• Total profit: $-52,554
• Equity at exit: $27,564

Cash invested: $89,264 (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 48304

• Active inventory: 132
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $3,038 medium
• Mortgage (P&I): −$1,672
• Tax from tax record: −$308 /mo · $3,690/yr
• Insurance: −$133
• HOA: −$350
• Vacancy / Maint / Mgmt: −$638
• Net cashflow: $-62

Break-even live

Break-even rent $3,117

Max offer price $307,773

Occupancy floor 97%

Sensitivity live

Price	-10% $118	-5% $28	+0% $-62	+5% $-153	+10% $-243
Rent	-10% $-302	-5% $-182	+0% $-62	+5% $58	+10% $178
Rate	-1.0pp $98	-0.5pp $19	base $-62	+0.5pp $-145	+1.0pp $-229

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: $79,700
• Closing costs: $9,564
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
42160 Woodward Ave Bloomfield Hills, MI	2.0	2.0	1689	$3,500	$2.07	0d	1	1.30mi

HOA detail condo

• Monthly dues: $350 · $4,200/yr
• ⚠ Special-assessment mentions:

  …basement with egress window. Location, Location close shopping, recreation and entertainment. Note there will be a roof assessment in 2027 in the amount of $2,500.00. Price accordingly to allow for updates. All M & D and taxes are approximate.

Listing history 10 events

1. 2026-05-03
   status Pending 628-char remark

   Show marketing remark (628 chars)

   Opportunity knocks, rare 3 Bedroom, 2.1 bath Bloomfield Hills End Unit Condo. Peninsula kitchen open to nook with studio ceiling. Expansive family room with doorwall overlooking wooded backyard, cozy fireplace, opens to dining room. Study features built in shelving. Primary suite boasts studio ceiling, fireplace and private bath. Additional bedrooms generous. Partially finished basement with egress window. Location, Location close shopping, recreation and entertainment. Note there will be a roof assessment in 2027 in the amount of $2,500.00. Price accordingly to allow for updates. All M & D and taxes are approximate.

2. 2026-05-03
   status Pending

   Show marketing remark (628 chars)

   Opportunity knocks, rare 3 Bedroom, 2.1 bath Bloomfield Hills End Unit Condo. Peninsula kitchen open to nook with studio ceiling. Expansive family room with doorwall overlooking wooded backyard, cozy fireplace, opens to dining room. Study features built in shelving. Primary suite boasts studio ceiling, fireplace and private bath. Additional bedrooms generous. Partially finished basement with egress window. Location, Location close shopping, recreation and entertainment. Note there will be a roof assessment in 2027 in the amount of $2,500.00. Price accordingly to allow for updates. All M & D and taxes are approximate.

3. 2026-04-09
   price $318,800 628-char remark

   Show marketing remark (628 chars)

   Opportunity knocks, rare 3 Bedroom, 2.1 bath Bloomfield Hills End Unit Condo. Peninsula kitchen open to nook with studio ceiling. Expansive family room with doorwall overlooking wooded backyard, cozy fireplace, opens to dining room. Study features built in shelving. Primary suite boasts studio ceiling, fireplace and private bath. Additional bedrooms generous. Partially finished basement with egress window. Location, Location close shopping, recreation and entertainment. Note there will be a roof assessment in 2027 in the amount of $2,500.00. Price accordingly to allow for updates. All M & D and taxes are approximate.

4. 2026-04-09
   price $318,800

   Show marketing remark (628 chars)

   Opportunity knocks, rare 3 Bedroom, 2.1 bath Bloomfield Hills End Unit Condo. Peninsula kitchen open to nook with studio ceiling. Expansive family room with doorwall overlooking wooded backyard, cozy fireplace, opens to dining room. Study features built in shelving. Primary suite boasts studio ceiling, fireplace and private bath. Additional bedrooms generous. Partially finished basement with egress window. Location, Location close shopping, recreation and entertainment. Note there will be a roof assessment in 2027 in the amount of $2,500.00. Price accordingly to allow for updates. All M & D and taxes are approximate.

5. 2026-03-19
   listed $342,000 Active 628-char remark

   Show marketing remark (628 chars)

   Opportunity knocks, rare 3 Bedroom, 2.1 bath Bloomfield Hills End Unit Condo. Peninsula kitchen open to nook with studio ceiling. Expansive family room with doorwall overlooking wooded backyard, cozy fireplace, opens to dining room. Study features built in shelving. Primary suite boasts studio ceiling, fireplace and private bath. Additional bedrooms generous. Partially finished basement with egress window. Location, Location close shopping, recreation and entertainment. Note there will be a roof assessment in 2027 in the amount of $2,500.00. Price accordingly to allow for updates. All M & D and taxes are approximate.

6. 2026-03-19
   listed $342,000 Active

   Show marketing remark (628 chars)

   Opportunity knocks, rare 3 Bedroom, 2.1 bath Bloomfield Hills End Unit Condo. Peninsula kitchen open to nook with studio ceiling. Expansive family room with doorwall overlooking wooded backyard, cozy fireplace, opens to dining room. Study features built in shelving. Primary suite boasts studio ceiling, fireplace and private bath. Additional bedrooms generous. Partially finished basement with egress window. Location, Location close shopping, recreation and entertainment. Note there will be a roof assessment in 2027 in the amount of $2,500.00. Price accordingly to allow for updates. All M & D and taxes are approximate.

7. 1999-01-27
   soldstatus $257,000
8. 1986-04-01
   soldstatus $164,000
9. 1982-07-01
   soldstatus $130,000
10. 1982-03-01
    soldstatus $130,000

ⓘ 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: $3,690 · $308/mo
• Projected year-2 tax: $4,300 · $358/mo
• Expected delta: +$610/yr (+$51/mo · 16.5%)

ⓘ 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 ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $36,452
• − Mortgage interest: −$17,858
• − Property taxes: −$3,690
• − Insurance: −$1,594
• − Repairs & maintenance: −$2,916
• − Management: −$2,916
• − HOA: −$4,200
• − Depreciation: −$9,274
• Taxable loss: −$5,997
• Est. tax savings @ 24.0%: +$1,439
• After-tax cash flow: $690/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: Bloomfield Hills Schools
• NCES district ID: 2606090
• Math proficiency: 65% ▼ -2.00%
• Reading proficiency: 74% ▲ 2.00%
• Median HH income: $117,848
• Composite: 65.41/100
• National rank: #481
• State rank: #5 of 540 in MI

Livability — Bloomfield Hills

• Score: 72/100
• State rank: #263
• US rank: #6482

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Bloomfield Hills, MI
• County: Oakland County · 1,009,092 people
• City population: 34,892
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 17,387
• Household income: $143,204
• Rent vs Own: 11.3% rent · 88.7% own
• Severe rent burden: 85.0

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 (79%)
• Race & ethnicity: White 79% Asian 10% Two or more races 4% Black 4% Hispanic / Latino 2%
• Common ancestry: Romanian 6% Lithuanian 3% Slovak 2%
• Foreign-born: 17% · China, Canada, South Korea
• Languages at home: 79% English-only · Other Indo-European 6% Arabic 5% Other Asian/Pacific 3%

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: ▼ -195.96%
• Current HPI: 160.6477
• Rent YoY: —
• 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

+145.2% since first listed

10 events — show timeline

• 2026-05-03 Pending — MiRealSource-MiMLS
• 2026-05-03 Pending — REALCOMP
• 2026-04-09 Price Changed $318,800 MiRealSource-MiMLS
• 2026-04-09 Price Changed $318,800 REALCOMP
• 2026-03-19 Listed $342,000 REALCOMP
• 2026-03-19 Listed $342,000 MiRealSource-MiMLS
• 1999-01-27 Sold (Public Records) $257,000 Public Records
• 1986-04-01 Sold (Public Records) $164,000 Public Records
• 1982-07-01 Sold (Public Records) $130,000 Public Records
• 1982-03-01 Sold (Public Records) $130,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $3,690 · +2.3% YoY. Source: county tax records.