21256 E Glen Haven Cir · Novi, MI 48167

$245,000

2 bd · 2.0 ba · 1,520 sqft · Condo · 33 Days on market

Built 1977 $161/sqft · 8% below area Est $267k · 8% under $417/mo HOA · 21% 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).

• ARV discount +11.3/15.0
• Cash flow +7.2/30.0
• Schools +6.5/10.0
• Livability +4.3/5.0
• Rent growth +3.5/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• DSCR +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Updated Northville condo with loft, finished basement, private deck, and access to pool/clubhouse amenities in a highly convenient location near Costco, Meijer, Kroger, dining, and everyday essentials. Tucked within a smaller, more intimate court setting, this home offers comfort, functionality, and low-maintenance living. Inside, you'll find warm wood flooring through the main living areas and an inviting layout designed for everyday ease. The spacious living room flows into the dining area and updated kitchen featuring quality cabinetry, backsplash, and included appliances. A standout feature is the upper-level loft overlooking the living room - perfect as a media room, reading nook, office, or guest retreat. Upstairs also includes a full bedroom and bath, creating an ideal private suite feel. The partially finished basement adds valuable bonus space for hobbies, fitness, storage, or recreation, along with laundry and an egress window. Enjoy outdoor living on the rebuilt deck, ideal for morning coffee or relaxing evenings. Detached 1-car garage plus dedicated parking space included. Recent improvements include new central air (2025) and new electrical panel (2025). Community amenities include clubhouse, pool, fitness area, and library. A well-cared-for home offering space, convenience, and lifestyle in one of Northville's most desirable locations.

Key facts

• $417 HOA
• Garage
• Community pool

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $245k.

Deal economics

• At list price, monthly cash flow is $-338 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $185k (24.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $199k (18.9% below list).
• Recommended offer: $185k (24.4% below list) — sets the bar for cash-flow.
• Cap rate 4.6% vs local median 2.8% in Novi — 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 86/100 on livability (#20 in MI, #377 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: commute F.
• Novi Community School District (urban): math 73% / reading 72% proficiency, ranked #7 of 540 in MI (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 7% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+4.0%/yr); 213 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $7k 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 33 days — a 3% lower offer ($238k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts; this cycle's ask has dropped $20k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $96k; list at $245k implies a 155% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $185,264 (24.4% 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 33 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1977 — 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: 0.81% ✗
• Cap rate: 4.64%
• Cash-on-cash: -5.92%
• DSCR: 0.74
• GRM: 10.3

CMA / ARV

• ARV (median comp): $267,379
• List price: $245,000
• Delta: -8.37%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.97% rent growth · sell at horizon

5-year hold

• IRR: -25.1%
• Equity multiple: 0.14×
• Total profit: $-59,119
• Equity at exit: $36,530

10-year hold

• IRR: -17.9%
• Equity multiple: -0.03×
• Total profit: $-70,367
• Equity at exit: $21,183

Cash invested: $68,600 (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 48167

• Rents YoY: 4.0%
• Active inventory: 213
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,986 high
• Mortgage (P&I): −$1,285
• Tax from tax record: −$103 /mo · $1,237/yr
• Insurance: −$102
• HOA: −$417
• Vacancy / Maint / Mgmt: −$417
• Net cashflow: $-338

Break-even live

Break-even rent $2,414

Max offer price $185,264

Occupancy floor —

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: $61,250
• Closing costs: $7,350
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
20828 W Glen Haven Cir Northville, MI	3.0	2.5	1863	$2,000	$1.07	1d	1	0.02mi
20969 Woodland Glen Dr Northville, MI	1.0–2.0	1.0–2.0	947	$1,639	$1.73	2d	12	0.19mi
43001 Northville Place Dr Northville, MI	1.0–2.0	1.0–2.0	1011	$2,198	$2.17	1d	41	0.49mi
695 River Park Village Blvd Northville, MI	2.0	1.5	1251	$2,180	$1.74	1d	1	0.73mi
19675 Ironwood Ct Northville, MI	2.0	1.5	1208	$2,000	$1.66	4d	1	0.83mi
19200 W Harbour Village Dr Northville, MI	2.0	2.0	1222	$1,874	$1.53	11d	10	1.01mi
19112 Northridge Dr Northville, MI	2.0	2.0	1179	$1,950	$1.65	43d	1	1.01mi
42480 Corlina Dr Northville, MI	2.0	2.5	1800	$2,400	$1.33	43d	1	1.02mi
42824 Swan Lake Dr Northville, MI	1.0–2.0	1.0–2.0	1062	$1,699	$1.60	4d	15	1.05mi
410 E Main St Northville, MI	2.0	1.0	1100	$2,000	$1.82	24d	1	1.09mi
18800 Innsbrook Dr Northville, MI	1.0–3.0	1.0–2.0	1061	$1,750	$1.65	1d	5	1.23mi
646 East St Northville, MI	2.0	2.5	1147	$2,850	$2.48	43d	1	1.29mi
150 Maincentre Northville, MI	1.0–2.0	1.0–2.0	900	$2,534	$2.82	1d	6	1.34mi
416 S Center St Northville, MI	3.0	2.5	1997	$5,000	$2.50	4d	1	1.46mi
22123 Solomon Blvd Novi, MI	1.0–2.0	1.0–2.0	1050	$1,794	$1.71	4d	4	1.46mi

HOA detail condo

• Monthly dues: $417 · $5,004/yr
• Likely covers: electricpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 15 events

1. 2026-04-25
   listed $265,000 Active 1371-char remark

   Show marketing remark (1381 chars)

   Updated Northville condo with loft, finished basement, private deck, and access to pool/clubhouse amenities in a highly convenient location near Costco, Meijer, Kroger, dining, and everyday essentials. Tucked within a smaller, more intimate court setting, this home offers comfort, functionality, and low-maintenance living. Inside, you'll find warm wood flooring through the main living areas and an inviting layout designed for everyday ease. The spacious living room flows into the dining area and updated kitchen featuring quality cabinetry, backsplash, and included appliances. A standout feature is the upper-level loft overlooking the living room—perfect as a media room, reading nook, office, or guest retreat. Upstairs also includes a full bedroom and bath, creating an ideal private suite feel. The partially finished basement adds valuable bonus space for hobbies, fitness, storage, or recreation, along with laundry and an egress window. Enjoy outdoor living on the rebuilt deck, ideal for morning coffee or relaxing evenings. Detached 1-car garage plus dedicated parking space included. Recent improvements include new central air (2025) and new electrical panel (2025). Community amenities include clubhouse, pool, fitness area, and library. A well-cared-for home offering space, convenience, and lifestyle in one of Northville’s most desirable locations.

2. 2026-04-25
   listed $265,000 Active 1381-char remark

   Show marketing remark (1381 chars)

   Updated Northville condo with loft, finished basement, private deck, and access to pool/clubhouse amenities in a highly convenient location near Costco, Meijer, Kroger, dining, and everyday essentials. Tucked within a smaller, more intimate court setting, this home offers comfort, functionality, and low-maintenance living. Inside, you'll find warm wood flooring through the main living areas and an inviting layout designed for everyday ease. The spacious living room flows into the dining area and updated kitchen featuring quality cabinetry, backsplash, and included appliances. A standout feature is the upper-level loft overlooking the living room—perfect as a media room, reading nook, office, or guest retreat. Upstairs also includes a full bedroom and bath, creating an ideal private suite feel. The partially finished basement adds valuable bonus space for hobbies, fitness, storage, or recreation, along with laundry and an egress window. Enjoy outdoor living on the rebuilt deck, ideal for morning coffee or relaxing evenings. Detached 1-car garage plus dedicated parking space included. Recent improvements include new central air (2025) and new electrical panel (2025). Community amenities include clubhouse, pool, fitness area, and library. A well-cared-for home offering space, convenience, and lifestyle in one of Northville’s most desirable locations.

3. 2026-04-22
   historical $265,000 1371-char remark

   Show marketing remark (1371 chars)

   Updated Northville condo with loft, finished basement, private deck, and access to pool/clubhouse amenities in a highly convenient location near Costco, Meijer, Kroger, dining, and everyday essentials. Tucked within a smaller, more intimate court setting, this home offers comfort, functionality, and low-maintenance living. Inside, you'll find warm wood flooring through the main living areas and an inviting layout designed for everyday ease. The spacious living room flows into the dining area and updated kitchen featuring quality cabinetry, backsplash, and included appliances. A standout feature is the upper-level loft overlooking the living room - perfect as a media room, reading nook, office, or guest retreat. Upstairs also includes a full bedroom and bath, creating an ideal private suite feel. The partially finished basement adds valuable bonus space for hobbies, fitness, storage, or recreation, along with laundry and an egress window. Enjoy outdoor living on the rebuilt deck, ideal for morning coffee or relaxing evenings. Detached 1-car garage plus dedicated parking space included. Recent improvements include new central air (2025) and new electrical panel (2025). Community amenities include clubhouse, pool, fitness area, and library. A well-cared-for home offering space, convenience, and lifestyle in one of Northville's most desirable locations.

4. 2025-10-10
   historical
5. 2025-09-09
   status Active
6. 2025-09-09
   status Active
7. 2025-09-08
   historical
8. 2025-09-08
   historical
9. 2025-08-19
   price $260,000
10. 2025-08-18
    price $260,000
11. 2025-07-22
    listed $270,000 Active
12. 2025-07-22
    listed $270,000 Active
13. 1994-07-25
    soldstatus $96,000
14. 1990-08-09
    soldstatus $91,000
15. 1985-02-01
    soldstatus $61,000

ⓘ 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: $1,237 · $103/mo
• Projected year-2 tax: $2,505 · $209/mo
• Expected delta: +$1,268/yr (+$106/mo · 102.5%)

ⓘ 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 ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,831
• − Mortgage interest: −$13,724
• − Property taxes: −$1,237
• − Insurance: −$1,225
• − Repairs & maintenance: −$1,906
• − Management: −$1,906
• − HOA: −$5,004
• − Depreciation: −$7,127
• Taxable loss: −$8,300
• Est. tax savings @ 24.0%: +$1,992
• 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: Novi Community School District
• NCES district ID: 2626130
• Math proficiency: 73% ▼ -3.00%
• Reading proficiency: 72% ▼ -1.00%
• Median HH income: $90,023
• Composite: 65.28/100
• National rank: #489
• State rank: #7 of 540 in MI

Livability — Novi

• Score: 86/100
• State rank: #20
• US rank: #377

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Novi, MI
• County: Wayne County · 1,562,939 people
• City population: 43,845
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 24,713
• Household income: $124,630
• Rent vs Own: 25.9% rent · 74.1% own
• Severe rent burden: 441.0

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 (78%)
• Race & ethnicity: White 78% Asian 10% Two or more races 5% Hispanic / Latino 4% Black 4%
• Common ancestry: Romanian 11% Lithuanian 4% Slovak 3%
• Foreign-born: 15% · Canada, China, South Korea
• Languages at home: 85% English-only · Other Indo-European 4% Other Asian/Pacific 3% Chinese 2%

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: ▼ -275.65%
• Current HPI: 176.171
• Rent YoY: ▲ 3.97%
• 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

+334.4% since first listed

15 events — show timeline

• 2026-04-25 Listed $265,000 MiRealSource-MiMLS
• 2026-04-25 Listed $265,000 REALCOMP
• 2026-04-22 Coming Soon $265,000 MiRealSource-MiMLS
• 2025-10-10 Listing Removed — MiRealSource-MiMLS
• 2025-09-09 Relisted — MiRealSource-MiMLS
• 2025-09-09 Relisted — REALCOMP
• 2025-09-08 Listing Removed — REALCOMP
• 2025-09-08 Listing Removed — MiRealSource-MiMLS
• 2025-08-19 Price Changed $260,000 MiRealSource-MiMLS
• 2025-08-18 Price Changed $260,000 REALCOMP
• 2025-07-22 Listed $270,000 REALCOMP
• 2025-07-22 Listed $270,000 MiRealSource-MiMLS
• 1994-07-25 Sold (Public Records) $96,000 Public Records
• 1990-08-09 Sold (Public Records) $91,000 Public Records
• 1985-02-01 Sold (Public Records) $61,000 Public Records

Property tax history

+0.1%/yr

Latest (2025): $1,237 · -15.5% YoY. Source: county tax records.