25301 5 Mile Rd #227 · Detroit, MI 48239

$55,000

2 bd · 1.0 ba · 887 sqft · Condo public records · 40 Days on market

Built 1965 $451/mo HOA · 39% 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 +22.6/30.0
• 1% rule +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• Livability +3.7/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Possible Investor Special or a Great starter unit! 2 Bedroom Condo with wood floors and tons of space located near downtown Redford and close to freeways, shopping and schools. HOA includes gas, water, trash, maintenance, pool, lawn and insurance for the building. Common basement with laundry and storage, courtyard and in-ground pool. Condo has some updated flooring, a huge master bedroom and an updated kitchen. Don't waste any time and jump on this property now. Current market rent is $1,150/month.

Key facts

• In-ground pool
• Wood floors
• Updated kitchen

Tags

• WOOD FLOORS
• UPDATED KITCHEN
• IN-GROUND POOL
• COURTYARD

Property features AI

Finance

• Other: Pets allowed (contact for details); Directions: South of 5 Mile Rd, east of Beech Daly
• HOA & community: Homeowners association with a monthly fee of $451; HOA covers grounds and structure maintenance, snow removal, trash, and water; Community pool

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Condominium; One level; Entry on ground level
• Construction: Brick construction; Asphalt roof; Built above grade (finished area 887 square feet)
• Exterior features: Community in-ground pool; Paved road access

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Total of 4 rooms; Unfinished basement; Ground-level entry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $55k.

Deal economics

• At list price, monthly cash flow is $93 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 73/100 on livability (#218 in MI) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools F, crime F, employment F.
• Redford Union Schools District No. 1 (suburban): math 8% / reading 23% proficiency, ranked #489 of 540 in MI (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+3.2%/yr); 192 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 90% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $380 of loan paydown is wiped out by about $2k 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 40 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y 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 $7k; list at $55k implies a 664% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 39% of rent.

Recommended offer $53,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 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 1965 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
8. 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.
9. 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.
10. 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: 2.12% ✓
• Cap rate: 8.32%
• Cash-on-cash: 7.26%
• DSCR: 1.32
• GRM: 3.9

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.25% rent growth · sell at horizon

5-year hold

• IRR: -4.1%
• Equity multiple: 0.84×
• Total profit: $-2,394
• Equity at exit: $8,201

10-year hold

• IRR: 6.6%
• Equity multiple: 1.52×
• Total profit: $7,955
• Equity at exit: $4,755

Cash invested: $15,400 (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 48239

• Rents YoY: 3.2%
• Active inventory: 192
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,166 high
• Mortgage (P&I): −$288
• Tax from tax record: −$66 /mo · $787/yr
• Insurance: −$23
• HOA: −$451
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $93

Break-even live

Break-even rent $1,048

Max offer price $55,000

Occupancy floor 87%

Sensitivity live

Price	-10% $124	-5% $109	+0% $93	+5% $78	+10% $62
Rent	-10% $1	-5% $47	+0% $93	+5% $139	+10% $185
Rate	-1.0pp $121	-0.5pp $107	base $93	+0.5pp $79	+1.0pp $64

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15195 Aubrey Redford, MI	3.0	1.0	769	$1,395	$1.81	18d	1	0.07mi
15490 Dixie Redford, MI	3.0	1.0	912	$1,600	$1.75	6d	1	0.42mi
16207 Woodbine St Detroit, MI	3.0	1.0	1000	$1,294	$1.29	6d	1	0.90mi
16131 Dale St Detroit, MI	3.0	1.0	1100	$1,500	$1.36	19d	1	0.95mi
16581 Wormer St Detroit, MI	2.0	1.0	720	$1,100	$1.53	45d	1	0.96mi
14292 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	45d	1	1.00mi
14310 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	45d	1	1.00mi
14298 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	45d	1	1.01mi
14300 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	45d	1	1.01mi
14290 Riverview St Unit 208 Detroit, MI	1.0	1.0	550	$845	$1.54	45d	1	1.01mi
14290 Riverview St Unit 106 Detroit, MI	1.0	1.0	550	$695	$1.26	45d	1	1.01mi
14294 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	45d	1	1.01mi
14302 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	45d	1	1.01mi
14296 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	45d	1	1.01mi
14286 Riverview St Unit HF Detroit, MI	2.0	1.0	900	$900	$1.00	45d	1	1.01mi
14288 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	45d	1	1.01mi
14304 Riverview St Detroit, MI	2.0	1.0	900	$930	$1.03	45d	1	1.02mi
14306 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	45d	1	1.02mi
14308 Riverview St Detroit, MI	2.0	1.0	900	$895	$0.99	45d	1	1.02mi
14283 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	45d	1	1.02mi
14277 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	45d	1	1.02mi
14284 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	45d	1	1.02mi
14282 Riverview St Detroit, MI	2.0	1.0	900	$800	$0.89	45d	1	1.02mi
14271 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	45d	1	1.02mi
14252 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	45d	1	1.03mi
14280 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	45d	1	1.03mi
14250 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	45d	1	1.03mi
14293 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	45d	1	1.03mi
14287 Riverview St Detroit, MI	2.0	1.0	900	$800	$0.89	45d	1	1.03mi
14264 Dale St Detroit, MI	2.0	1.0	900	$1,050	$1.17	45d	1	1.03mi
14289 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	45d	1	1.03mi
14262 Dale St Detroit, MI	2.0	1.0	900	$985	$1.09	45d	1	1.03mi
14285 Riverview St Detroit, MI	2.0	1.0	900	$800	$0.89	45d	1	1.03mi
14291 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	45d	1	1.03mi
14248 Riverview St Detroit, MI	2.0	1.0	900	$985	$1.09	45d	1	1.03mi
14278 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	45d	1	1.04mi
14246 Riverview St Unit A Detroit, MI	2.0	1.0	900	$985	$1.09	45d	1	1.04mi
14246 Riverview St Unit RB Detroit, MI	2.0	1.0	900	$895	$0.99	45d	1	1.04mi
14246 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	45d	1	1.04mi
14274 Riverview St Detroit, MI	2.0	1.0	900	$900	$1.00	45d	1	1.04mi

HOA detail condo

• Monthly dues: $451 · $5,412/yr
• Likely covers: watertrashgaspool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 23 events

1. 2026-06-21
   days on market $55,000 Active 40 DOM
2. 2026-06-18
   days on market $55,000 Active 37 DOM
3. 2026-06-17
   days on market $55,000 Active 36 DOM
4. 2026-06-16
   days on market $55,000 Active 35 DOM
5. 2026-06-15
   days on market $55,000 Active 34 DOM
6. 2026-06-13
   days on market $55,000 Active 32 DOM
7. 2026-06-13
   days on market $55,000 Active 31 DOM
8. 2026-06-09
   days on market $55,000 Active 28 DOM
9. 2026-06-08
   days on market $55,000 Active 27 DOM
10. 2026-06-07
    days on market $55,000 Active 26 DOM
11. 2026-06-04
    days on market $55,000 Active 23 DOM
12. 2026-06-03
    days on market $55,000 Active 22 DOM
13. 2026-06-02
    days on market $55,000 Active 21 DOM
14. 2026-06-01
    days on market $55,000 Active 20 DOM
15. 2026-05-31
    days on market $55,000 Active 19 DOM
16. 2026-05-12
    listed $55,000 Active

    Show marketing remark (504 chars)

    Possible Investor Special or a Great starter unit! 2 Bedroom Condo with wood floors and tons of space located near downtown Redford and close to freeways, shopping and schools. HOA includes gas, water, trash, maintenance, pool, lawn and insurance for the building. Common basement with laundry and storage, courtyard and in-ground pool. Condo has some updated flooring, a huge master bedroom and an updated kitchen. Don't waste any time and jump on this property now. Current market rent is $1,150/month.

17. 2026-05-12
    listed $55,000 Active 504-char remark

    Show marketing remark (504 chars)

    Possible Investor Special or a Great starter unit! 2 Bedroom Condo with wood floors and tons of space located near downtown Redford and close to freeways, shopping and schools. HOA includes gas, water, trash, maintenance, pool, lawn and insurance for the building. Common basement with laundry and storage, courtyard and in-ground pool. Condo has some updated flooring, a huge master bedroom and an updated kitchen. Don't waste any time and jump on this property now. Current market rent is $1,150/month.

18. 2009-04-07
    soldstatus $7,200 58-char remark

    Show marketing remark (58 chars)

    All data and meas are approx. Buyers agent to verify info.

19. 2009-03-09
    listed $11,500 58-char remark

    Show marketing remark (58 chars)

    All data and meas are approx. Buyers agent to verify info.

20. 2009-03-02
    historical
21. 2009-02-05
    historical
22. 2009-02-04
    listed $11,500
23. 2008-11-04
    listed $11,500

ⓘ 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: $787 · $66/mo
• Projected year-2 tax: $817 · $68/mo
• Expected delta: +$30/yr (+$2/mo · 3.8%)

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

Taxation est. · year 1

• Rental income: $13,991
• − Mortgage interest: −$3,081
• − Property taxes: −$787
• − Insurance: −$275
• − Repairs & maintenance: −$1,119
• − Management: −$1,119
• − HOA: −$5,412
• − Depreciation: −$1,600
• Taxable income: $597
• Est. tax owed @ 24.0%: −$143
• After-tax cash flow: $974/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: Redford Union Schools District No. 1
• NCES district ID: 2629460
• Math proficiency: 8% ▼ -6.00%
• Reading proficiency: 23% ▬ 0.00%
• Median HH income: $49,778
• Composite: 14.1/100
• National rank: #9460
• State rank: #489 of 540 in MI

Livability — Detroit

• Score: 73/100
• State rank: #218
• US rank: #5427

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Wayne County · 1,562,939 people
• City population: 572,865
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 36,976
• Household income: $71,151
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 1052.0

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: Majority Black (58%)
• Race & ethnicity: Black 58% White 34% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Romanian 7% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1% Arabic 1%

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: ▼ -202.97%
• Current HPI: 236.1136
• Rent YoY: ▲ 3.25%
• 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

+378.3% since first listed

8 events — show timeline

• 2026-05-12 Listed $55,000 MiRealSource-MiMLS
• 2026-05-12 Listed $55,000 REALCOMP
• 2009-04-07 Sold (MLS) $7,200 REALCOMP
• 2009-03-09 Listed $11,500 REALCOMP
• 2009-03-02 Listing Removed — REALCOMP
• 2009-02-05 Listing Removed — REALCOMP
• 2009-02-04 Listed $11,500 REALCOMP
• 2008-11-04 Listed $11,500 REALCOMP

Property tax history

+3.1%/yr

Latest (2025): $787 · -42.8% YoY. Source: county tax records.