15999 W 11 Mile Rd · Southfield, MI 48076

$93,000

1 bd · 1.0 ba · 806 sqft · Condo public records · 108 Days on market

Built 1977 $115/sqft · 99% above area

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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 +24.6/30.0
• 1% rule +9.0/10.0
• DSCR +8.0/10.0
• ARV discount +7.5/15.0
• Rent growth +3.7/5.0
• Livability +3.6/5.0
• Condition / age +2.5/5.0
• Schools +2.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Move-In Ready 1-Bedroom Condo | Prime Location Near Royal Oak & Birmingham Welcome to this beautifully updated and spacious 1-bedroom condo located in a well-maintained community in Southfield. This condo features a large open-concept living and dining area, perfect for entertaining or relaxing in comfort. The kitchen flows seamlessly into the living space, creating a modern and functional layout. The unit offers new hardwood flooring throughout, fresh neutral paint, and central air conditioning and central heat for year-round comfort. The bedroom is oversized with an exceptionally large closet, and the home includes multiple additional closets plus a huge private storage space, offering rare and valuable storage capacity. Step outside to enjoy your private balcony, adding extra living space and natural light. Located in a beautiful, centrally located area, just 3 minutes from Royal Oak and 5 minutes from Birmingham, with easy access to shopping, dining, and major roads. Property Features 1 Large Bedroom with Huge Closet 1 Full Bathroom Open-Concept Living & Dining Room Updated Kitchen New Hardwood Floors Freshly Painted Central Air Conditioning & Central Heat Private Balcony Tons of Closet Space + Large Storage Area Move-In Ready Location 15999 W. 11 Mile Rd. , Southfield, MI 48076 Purchase & Financing Terms (Land Contract) Purchase Price: $93,000 Down Payment: $25,000 Assumed Land Contract Balance: $65,500 Land Contract Term: 4 Years Monthly Land Contract Payment: $329 Monthly Association Fee: $288 Annual Taxes: Approx. $1,000 (Non-Homestead) Taxes are 3040% lower with Homestead Investor-Friendly Opportunity Association allows rentals Ideal for investors seeking a rent-ready condo in a high-demand area Strong location near Royal Oak & Birmingham supports long-term rental demand This is an excellent opportunity for owner-occupants or investors looking for an affordable, well-located, move-in ready condo with flexible land contract terms. Contact for more details or to schedule a showing: 313-777-2222

Key facts

• Large storage area
• Tons of closet space
• Private balcony

Tags

• UPDATED KITCHEN
• NEW HARDWOOD FLOORS
• PRIVATE BALCONY
• TONS OF CLOSET SPACE
• LARGE STORAGE AREA

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $93k.

Deal economics

• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $93k).
• Recommended offer: $85k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.8% vs local median 4.6% in Southfield — 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 (#248 in MI) — a middle-class / working-renter tenant base. Strengths: commute A+, cost of living A+, housing A+; Watch: schools D, health & safety D, crime F.
• Southfield Public School District (urban): math 17% / reading 37% proficiency, ranked #392 of 540 in MI (top 73%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+4.8%/yr); 96 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals at typical pace (median 19d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent is only 17% of the median local income ($90k/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 $643 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 4.8% rent growth), your $26k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 108 days — a 9% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 11y 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 $47k; list at $93k implies a 98% gain — meaningful room to come down on a strong offer.

Recommended offer $84,630 (9.0% below list)

Questions for the listing agent

1. It's been on market 108 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1977 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. 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?
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: 1.40% ✓
• Cap rate: 8.78%
• Cash-on-cash: 8.89%
• DSCR: 1.40
• GRM: 5.9

CMA / ARV

• ARV (median comp): $50,614
• List price: $93,000
• Delta: 83.74%
• Verdict: OVERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 4.84% rent growth · sell at horizon

5-year hold

• IRR: -0.2%
• Equity multiple: 0.99×
• Total profit: $-190
• Equity at exit: $13,867

10-year hold

• IRR: 11.8%
• Equity multiple: 2.02×
• Total profit: $26,691
• Equity at exit: $8,041

Cash invested: $26,040 (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 48076

• Rents YoY: 4.8%
• Active inventory: 96
• Price-to-rent: 5.9×

Monthly cashflow live

• Estimated rent: $1,304 high
• Mortgage (P&I): −$488
• Tax from tax record: −$54 /mo · $646/yr
• Insurance: −$39
• HOA est. from 4 same-building comps: −$257
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $193

Break-even live

Break-even rent $1,060

Max offer price $93,000

Occupancy floor 80%

Sensitivity live

Price	-10% $245	-5% $219	+0% $193	+5% $167	+10% $140
Rent	-10% $90	-5% $141	+0% $193	+5% $244	+10% $296
Rate	-1.0pp $240	-0.5pp $217	base $193	+0.5pp $169	+1.0pp $144

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: $23,250
• Closing costs: $2,790
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
15833 W Eleven Mile Rd Southfield, MI	1.0–2.0	1.0	905	$1,215	$1.34	0d	5	0.11mi
15075 Lincoln St Oak Park, MI	2.0	1.0–2.0	746	$1,068	$1.43	4d	1	0.70mi
14801 Lincoln St Oak Park, MI	2.0	1.0–1.5	990	$1,240	$1.25	4d	1	0.76mi
25500 Greenfield Rd Oak Park, MI	2.0	1.0	637	$1,068	$1.67	3d	12	0.78mi
25600 Briar Dr Oak Park, MI	2.0–3.0	1.5	1235	$1,535	$1.24	25d	7	0.84mi
25225 Greenfield Rd Southfield, MI	1.0–2.0	1.0	705	$868	$1.23	45d	6	0.84mi
25337 S Montmartre Ct Unit 2 Oak Park, MI	2.0	1.0	981	$1,200	$1.22	25d	1	0.87mi
25221 W Rue Versailles Dr Oak Park, MI	1.0–2.0	1.0	850	$865	$1.02	25d	1	0.92mi
25026 E Rue Versailles Dr Oak Park, MI	1.0–2.0	1.0–2.0	932	$1,145	$1.23	0d	10	1.02mi
2639 Oxford Rd Berkley, MI	2.0	1.0	1010	$2,495	$2.47	0d	1	1.18mi
3644 Greenfield Rd Unit 3664 Greenfield Berkley, MI	2.0	1.5	950	$1,700	$1.79	19d	1	1.19mi
2580 Oxford Rd Berkley, MI	1.0	1.0	600	$1,270	$2.12	6d	3	1.21mi
2219 Coolidge Hwy Unit 2219-026 Berkley, MI	1.0	1.0	1050	$1,950	$1.86	45d	1	1.22mi
2575 Catalpa Dr Unit 2575-16 Berkley, MI	2.0	1.0	1100	$1,495	$1.36	25d	1	1.26mi
2575 Catalpa Dr Unit 2575-06 Berkley, MI	2.0	2.0	1100	$1,695	$1.54	25d	1	1.26mi
2200 Berkley Ave Unit 122 Berkley, MI	1.0	1.0	850	$1,260	$1.48	45d	1	1.41mi
2200 Berkley Ave Apt 102 Berkley, MI	2.0	1.0	900	$1,299	$1.44	0d	1	1.41mi
18248 W 12 Mile Rd Southfield, MI	1.0–2.0	1.0–2.0	902	$1,722	$1.91	3d	1	1.41mi

HOA detail condo

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

Listing history 30 events

1. 2026-06-21
   days on market $93,000 Active 108 DOM
2. 2026-06-18
   days on market $93,000 Active 105 DOM
3. 2026-06-17
   days on market $93,000 Active 104 DOM
4. 2026-06-16
   days on market $93,000 Active 103 DOM
5. 2026-06-15
   days on market $93,000 Active 102 DOM
6. 2026-06-13
   days on market $93,000 Active 100 DOM
7. 2026-06-13
   days on market $93,000 Active 99 DOM
8. 2026-06-09
   days on market $93,000 Active 96 DOM
9. 2026-06-08
   days on market $93,000 Active 95 DOM
10. 2026-06-07
    days on market $93,000 Active 94 DOM
11. 2026-06-04
    days on market $93,000 Active 91 DOM
12. 2026-06-03
    days on market $93,000 Active 90 DOM
13. 2026-06-02
    days on market $93,000 Active 89 DOM
14. 2026-06-01
    days on market $93,000 Active 88 DOM
15. 2026-05-31
    days on market $93,000 Active 87 DOM
16. 2026-03-05
    listed $93,000 Active 2095-char remark

    Show marketing remark (2095 chars)

    Move-In Ready 1-Bedroom Condo | Prime Location Near Royal Oak & Birmingham Welcome to this beautifully updated and spacious 1-bedroom condo located in a well-maintained community in Southfield. This condo features a large open-concept living and dining area, perfect for entertaining or relaxing in comfort. The kitchen flows seamlessly into the living space, creating a modern and functional layout. The unit offers new hardwood flooring throughout, fresh neutral paint, and central air conditioning and central heat for year-round comfort. The bedroom is oversized with an exceptionally large closet, and the home includes multiple additional closets plus a huge private storage space, offering rare and valuable storage capacity. Step outside to enjoy your private balcony, adding extra living space and natural light. Located in a beautiful, centrally located area, just 3 minutes from Royal Oak and 5 minutes from Birmingham, with easy access to shopping, dining, and major roads. Property Features 1 Large Bedroom with Huge Closet 1 Full Bathroom Open-Concept Living & Dining Room Updated Kitchen New Hardwood Floors Freshly Painted Central Air Conditioning & Central Heat Private Balcony Tons of Closet Space + Large Storage Area Move-In Ready Location 15999 W. 11 Mile Rd. , Southfield, MI 48076 Purchase & Financing Terms (Land Contract) Purchase Price: $93,000 Down Payment: $25,000 Assumed Land Contract Balance: $65,500 Land Contract Term: 4 Years Monthly Land Contract Payment: $329 Monthly Association Fee: $288 Annual Taxes: Approx. $1,000 (Non-Homestead) Taxes are 3040% lower with Homestead Investor-Friendly Opportunity Association allows rentals Ideal for investors seeking a rent-ready condo in a high-demand area Strong location near Royal Oak & Birmingham supports long-term rental demand This is an excellent opportunity for owner-occupants or investors looking for an affordable, well-located, move-in ready condo with flexible land contract terms. Contact for more details or to schedule a showing: 313-777-2222

17. 2019-05-15
    soldstatus $47,000 348-char remark

    Show marketing remark (348 chars)

    Move in ready 1 bedroom condo adjoined to main bath. Great amount of storage space. Living room and dining room flow together creating a great entertaining space. Water included and pet friendly!! Great source of natural light brightening up the condo. Prime location close to freeways And shopping. Schedule a showing today. Portfolio Loan needed.

18. 2019-04-02
    listed $55,000 348-char remark

    Show marketing remark (348 chars)

    Move in ready 1 bedroom condo adjoined to main bath. Great amount of storage space. Living room and dining room flow together creating a great entertaining space. Water included and pet friendly!! Great source of natural light brightening up the condo. Prime location close to freeways And shopping. Schedule a showing today. Portfolio Loan needed.

19. 2017-10-12
    historical
20. 2017-10-11
    historical
21. 2017-09-25
    price $46,000
22. 2017-09-18
    listed $50,000 Active
23. 2017-09-18
    listed $46,000
24. 2015-06-30
    soldstatus $25,000
25. 2015-06-05
    soldstatus $25,000 Closed
26. 2015-06-05
    soldstatus $25,000
27. 2015-05-20
    status Pending
28. 2015-05-15
    listed $29,500 Active
29. 2015-05-15
    listed $29,500
30. 1995-06-01
    soldstatus $35,000

ⓘ 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: $646 · $54/mo
• Projected year-2 tax: $1,039 · $87/mo
• Expected delta: +$393/yr (+$33/mo · 60.8%)

ⓘ 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 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: $15,648
• − Mortgage interest: −$5,209
• − Property taxes: −$646
• − Insurance: −$465
• − Repairs & maintenance: −$1,252
• − Management: −$1,252
• − HOA: −$3,084
• − Depreciation: −$2,705
• Taxable income: $1,034
• Est. tax owed @ 24.0%: −$248
• After-tax cash flow: $2,066/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: Southfield Public School District
• NCES district ID: 2632310
• Math proficiency: 17% ▼ -3.00%
• Reading proficiency: 37% ▲ 1.00%
• Median HH income: $51,400
• Composite: 23.77/100
• National rank: #7814
• State rank: #392 of 540 in MI

Livability — Southfield

• Score: 72/100
• State rank: #248
• US rank: #6175

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Southfield, MI
• County: Oakland County · 1,009,092 people
• City population: 54,914
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 25,405
• Household income: $90,058
• Rent vs Own: 26.4% rent · 73.6% own
• Severe rent burden: 607.0

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: Diverse neighborhood (Simpson 0.57)
• Race & ethnicity: Black 57% White 32% Two or more races 7% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 3% Slovak 1% Scotch-Irish 1%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 90% English-only · Spanish 3% Arabic 2% Russian/Polish/Slavic 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: ▼ -192.13%
• Current HPI: 229.2304
• Rent YoY: ▲ 4.84%
• 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

+165.7% since first listed

15 events — show timeline

• 2026-03-05 Listed $93,000 ForSaleByOwner.com
• 2019-05-15 Sold (MLS) $47,000 REALCOMP
• 2019-04-02 Listed $55,000 REALCOMP
• 2017-10-12 Listing Removed — REALCOMP
• 2017-10-11 Listing Removed — REALCOMP
• 2017-09-25 Price Changed $46,000 REALCOMP
• 2017-09-18 Listed $50,000 REALCOMP
• 2017-09-18 Listed $46,000 REALCOMP
• 2015-06-30 Sold (Public Records) $25,000 Public Records
• 2015-06-05 Sold (MLS) $25,000 REALCOMP
• 2015-06-05 Sold (MLS) $25,000 MiRealSource-MiMLS
• 2015-05-20 Pending — MiRealSource-MiMLS
• 2015-05-15 Listed $29,500 MiRealSource-MiMLS
• 2015-05-15 Listed $29,500 REALCOMP
• 1995-06-01 Sold (Public Records) $35,000 Public Records

Property tax history

-0.9%/yr

Latest (2025): $646 · -18.5% YoY. Source: county tax records.