339 Concord Pl · Bloomfield, MI 48304

$209,000

2 bd · 1.5 ba · 1,014 sqft · Condo · 21 Days on market

Built 1963 Poor condition

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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 +18.2/30.0
• ARV discount +7.5/15.0
• Schools +6.5/10.0
• DSCR +5.7/10.0
• 1% rule +4.9/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

What a place! Totally renovated 1st flr ranch condo/end unit in Bloomfield 48304! BRAND new Kitchen w/ granite, NEW cabs, ceramic tile flr, new ss appls. BRAND NEW bath. .. totally redone! Master w/ WIC & half bath. Hrdwd flrs in foyer/living & dining rms. New carpet, designer blinds, freshly painted, new lite fixt. No shared walls. Small quiet complex. Assoc pays water, grnd maint, 1 carport, 1 assigned spot. Blmfield Hills Schls. NOT A SHORT SALE OR FORECLOSURE!

Key facts

• Exposed wood beams
• Stone tiled kitchen
• 2 garage spots

Tags

• GROUND FLOOR END UNIT
• SUNKEN STEP DOWN LIVING SPACES
• EXPOSED WOOD BEAMS
• REFINISHED HARDWOOD FLOORS
• STONE TILED KITCHEN
• NEWLY WALLPAPERED BATHS

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $209k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $186 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $206k (1.3% below list).
• Recommended offer: $206k (1.5% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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.
• Market conditions: 128 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 17d on market — plan ~3-4 weeks tenant-placement turnaround); high-income renter base; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent is only 17% of the median local income ($143k/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 $6k 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 21 days — a 2% lower offer ($206k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 22y 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 $55k; list at $209k implies a 280% gain — meaningful room to come down on a strong offer.

Recommended offer $205,865 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
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: 0.99% ✗
• Cap rate: 7.36%
• Cash-on-cash: 3.81%
• DSCR: 1.17
• GRM: 8.4

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: -10.3%
• Equity multiple: 0.62×
• Total profit: $-22,011
• Equity at exit: $31,163

10-year hold

• IRR: -0.9%
• Equity multiple: 0.93×
• Total profit: $-3,814
• Equity at exit: $18,071

Cash invested: $58,520 (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: 128
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,063 high
• Mortgage (P&I): −$1,096
• Tax est. 1.5%: −$261 /mo · $3,135/yr
• Insurance: −$87
• HOA: −$0
• Vacancy / Maint / Mgmt: −$433
• Net cashflow: $186

Break-even live

Break-even rent $1,828

Max offer price $209,000

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: $52,250
• Closing costs: $6,270
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
444 N Fox Hills Dr #3 Bloomfield Twp, MI	2.0	2.0	1089	$1,598	$1.47	24d	1	0.41mi
444 N Fox Hills Dr #7 Bloomfield Twp, MI	2.0	2.0	1089	$1,550	$1.42	24d	1	0.41mi
433 Fox Hills Dr S #5 Bloomfield Hills, MI	2.0	2.0	1089	$1,700	$1.56	12d	1	0.41mi
E Fox Hills Dr Bloomfield Twp, MI	2.0	2.0	1055	$1,300	$1.23	16d	1	0.54mi
42522 Woodward Ave Bloomfield Twp, MI	2.0	2.0	1300	$3,300	$2.54	1d	1	0.63mi
100 W Hickory Grove Rd Bloomfield Hills, MI	2.0	1.5–2.0	1032	$1,700	$1.65	12d	2	0.66mi
100 W Hickory Grove Rd Bloomfield Hills, MI	2.0	1.0–2.0	1032	$1,625	$1.57	24d	3	0.66mi
124 Alice Ave Bloomfield Township, MI	3.0	1.0	1440	$2,000	$1.39	5d	1	1.29mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-18
   days on market $209,000 Active 21 DOM
2. 2026-06-17
   days on market $209,000 Active 20 DOM
3. 2026-06-16
   days on market $209,000 Active 19 DOM
4. 2026-06-15
   days on market $209,000 Active 18 DOM
5. 2026-06-13
   days on market $209,000 Active 16 DOM
6. 2026-06-13
   days on market $209,000 Active 15 DOM
7. 2026-06-09
   days on market $209,000 Active 12 DOM
8. 2026-06-08
   days on market $209,000 Active 11 DOM
9. 2026-06-07
   days on market $209,000 Active 10 DOM
10. 2026-06-04
    days on market $209,000 Active 7 DOM
11. 2026-06-03
    days on market $209,000 Active 6 DOM
12. 2026-06-02
    days on market $209,000 Active 5 DOM
13. 2026-06-01
    days on market $209,000 Active 4 DOM
14. 2026-05-31
    days on market $209,000 Active 3 DOM
15. 2026-05-16
    listed $209,000 Active
16. 2010-06-01
    soldstatus $55,000 480-char remark

    Show marketing remark (471 chars)

    What a place! Totally renovated 1st flr ranch condo/end unit in Bloomfield 48304! BRAND new Kit w/ granite, NEW cabs, ceram tile flr, new appls. BRAND NEW bath. .. totally redone! Master w/ WIC & half bath. Hrdwd flrs in foyer/liv & din rms. New carpet, designer blinds, freshly painted, new lite fixt. No shared walls. Small quiet complex. Assoc pays water, grnd maint, 1 cport, 1 assigned spot. Blmfield Hills Schls. $1500 credit twards wash/dry in unit! *

17. 2010-06-01
    soldstatus $55,000 471-char remark

    Show marketing remark (471 chars)

    What a place! Totally renovated 1st flr ranch condo/end unit in Bloomfield 48304! BRAND new Kit w/ granite, NEW cabs, ceram tile flr, new appls. BRAND NEW bath. .. totally redone! Master w/ WIC & half bath. Hrdwd flrs in foyer/liv & din rms. New carpet, designer blinds, freshly painted, new lite fixt. No shared walls. Small quiet complex. Assoc pays water, grnd maint, 1 cport, 1 assigned spot. Blmfield Hills Schls. $1500 credit twards wash/dry in unit! *

18. 2010-05-07
    historical 480-char remark

    Show marketing remark (480 chars)

    What a place! Totally renovated 1st flr ranch condo/end unit in Bloomfield 48304! BRAND new Kitchen w/ granite, NEW cabs, ceramic tile flr, new ss appls. BRAND NEW bath. .. totally redone! Master w/ WIC & half bath. Hrdwd flrs in foyer/living & dining rms. New carpet, designer blinds, freshly painted, new lite fixt. No shared walls. Small quiet complex. Assoc pays water, grnd maint, 1 carport, 1 assigned spot. Blmfield Hills Schls. NOT A SHORT SALE OR FORECLOSURE!

19. 2010-02-17
    historical

    Show marketing remark (471 chars)

    What a place! Totally renovated 1st flr ranch condo/end unit in Bloomfield 48304! BRAND new Kit w/ granite, NEW cabs, ceram tile flr, new appls. BRAND NEW bath. .. totally redone! Master w/ WIC & half bath. Hrdwd flrs in foyer/liv & din rms. New carpet, designer blinds, freshly painted, new lite fixt. No shared walls. Small quiet complex. Assoc pays water, grnd maint, 1 cport, 1 assigned spot. Blmfield Hills Schls. $1500 credit twards wash/dry in unit! *

20. 2010-02-17
    listed $59,000 480-char remark

    Show marketing remark (471 chars)

    What a place! Totally renovated 1st flr ranch condo/end unit in Bloomfield 48304! BRAND new Kit w/ granite, NEW cabs, ceram tile flr, new appls. BRAND NEW bath. .. totally redone! Master w/ WIC & half bath. Hrdwd flrs in foyer/liv & din rms. New carpet, designer blinds, freshly painted, new lite fixt. No shared walls. Small quiet complex. Assoc pays water, grnd maint, 1 cport, 1 assigned spot. Blmfield Hills Schls. $1500 credit twards wash/dry in unit! *

21. 2010-02-17
    listed $59,000 471-char remark

    Show marketing remark (471 chars)

    What a place! Totally renovated 1st flr ranch condo/end unit in Bloomfield 48304! BRAND new Kit w/ granite, NEW cabs, ceram tile flr, new appls. BRAND NEW bath. .. totally redone! Master w/ WIC & half bath. Hrdwd flrs in foyer/liv & din rms. New carpet, designer blinds, freshly painted, new lite fixt. No shared walls. Small quiet complex. Assoc pays water, grnd maint, 1 cport, 1 assigned spot. Blmfield Hills Schls. $1500 credit twards wash/dry in unit! *

22. 2010-02-17
    historical

    Show marketing remark (471 chars)

    What a place! Totally renovated 1st flr ranch condo/end unit in Bloomfield 48304! BRAND new Kit w/ granite, NEW cabs, ceram tile flr, new appls. BRAND NEW bath. .. totally redone! Master w/ WIC & half bath. Hrdwd flrs in foyer/liv & din rms. New carpet, designer blinds, freshly painted, new lite fixt. No shared walls. Small quiet complex. Assoc pays water, grnd maint, 1 cport, 1 assigned spot. Blmfield Hills Schls. $1500 credit twards wash/dry in unit! *

23. 2009-09-29
    listed $69,000
24. 2009-09-29
    listed $69,000
25. 2008-09-18
    historical
26. 2008-04-08
    listed $75,000
27. 2004-04-26
    soldstatus $104,000
28. 2004-04-07
    historical
29. 2004-03-21
    listed $105,500

ⓘ 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 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: $24,760
• − Mortgage interest: −$11,707
• − Property taxes: −$3,135
• − Insurance: −$1,045
• − Repairs & maintenance: −$1,981
• − Management: −$1,981
• − Depreciation: −$6,080
• Taxable loss: −$1,169
• Est. tax savings @ 24.0%: +$281
• After-tax cash flow: $2,509/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 · 0 photos

Poor 20/100 Extensive rehab

This mid-century modern condo requires extensive repairs and renovations to bring it up to current standards, significantly impacting its resale and rental value.

Repairs flagged

• Major Kitchen cabinets — The cabinets appear to be old and possibly damaged.
• Major Kitchen countertops — The countertops appear to be old and possibly damaged.
• Major Bathroom fixtures — The fixtures appear to be old and possibly damaged.
• Major Bathroom tiling — The tiling appears to be old and possibly damaged.
• Major Exterior siding — The siding appears to be in poor condition with visible damage.
• Major Flooring — The flooring appears to be worn and possibly damaged.
• Major Interior walls — The walls appear to have peeling paint and possibly damage.

Value-add opportunities

• Resale Kitchen renovation — A new kitchen with updated appliances and fixtures will significantly enhance the home's appeal to potential buyers.
• Resale Bathroom renovation — A new bathroom with updated fixtures and tiling will significantly enhance the home's appeal to potential buyers.
• Both Exterior siding repair — Repairing the siding will improve the home's curb appeal and overall condition, benefiting both resale and rental value.
• Both Floor refinishing — Refinishing the flooring will improve the home's condition and appearance, benefiting both resale and rental value.
• Both Interior painting — Painting the interior walls will improve the home's condition and appearance, benefiting both resale and rental value.

Renovation cost estimate screening

Repair item	Severity	Est. cost
Kitchen cabinets · The cabinets appear to be old and possibly damaged.	Major	$15,000–50,000
Kitchen countertops · The countertops appear to be old and possibly damaged.	Major	$15,000–50,000
Bathroom fixtures · The fixtures appear to be old and possibly damaged.	Major	$15,000–50,000
Bathroom tiling · The tiling appears to be old and possibly damaged.	Major	$15,000–50,000
Exterior siding · The siding appears to be in poor condition with visible damage.	Major	$15,000–50,000
Flooring · The flooring appears to be worn and possibly damaged.	Major	$15,000–50,000
Interior walls · The walls appear to have peeling paint and possibly damage.	Major	$15,000–50,000
Total estimated repair cost · 7 items		$105,000–350,000

Value-add ROI direction

• Resale Kitchen renovation — A new kitchen with updated appliances and fixtures will significantly enhance the home's appeal to potential buyers. ↑
• Resale Bathroom renovation — A new bathroom with updated fixtures and tiling will significantly enhance the home's appeal to potential buyers. ↑
• Both Exterior siding repair — Repairing the siding will improve the home's curb appeal and overall condition, benefiting both resale and rental value. ↑
• Both Floor refinishing — Refinishing the flooring will improve the home's condition and appearance, benefiting both resale and rental value. ↑
• Both Interior painting — Painting the interior walls will improve the home's condition and appearance, benefiting 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: 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

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Oakland County · 1,009,092 people
• 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

+98.1% since first listed

15 events — show timeline

• 2026-05-16 Listed $209,000 FSBO.com
• 2010-06-01 Sold (MLS) $55,000 REALCOMP
• 2010-06-01 Sold (MLS) $55,000 MiRealSource-MiMLS
• 2010-05-07 Listing Removed — MiRealSource-MiMLS
• 2010-02-17 Listing Removed — REALCOMP
• 2010-02-17 Listed $59,000 REALCOMP
• 2010-02-17 Listed $59,000 MiRealSource-MiMLS
• 2010-02-17 Listing Removed — MiRealSource-MiMLS
• 2009-09-29 Listed $69,000 REALCOMP
• 2009-09-29 Listed $69,000 MiRealSource-MiMLS
• 2008-09-18 Listing Removed — MiRealSource-MiMLS
• 2008-04-08 Listed $75,000 MiRealSource-MiMLS
• 2004-04-26 Sold (MLS) $104,000 MiRealSource-MiMLS
• 2004-04-07 Listing Removed — MiRealSource-MiMLS
• 2004-03-21 Listed $105,500 MiRealSource-MiMLS