18239 Jamestown Cir · Northville, MI 48168

$199,000

2 bd · 1.5 ba · 1,142 sqft · Condo · 10 Days on market

Built 1967 Good condition $174/sqft · 19% below area Est $246k · 19% under $607/mo HOA · 31% 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 +15.0/15.0
• Schools +6.6/10.0
• Cash flow +5.4/30.0
• 1% rule +4.9/10.0
• Livability +4.4/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Adorable sun-filled Kings Mill Cooperative Condo, BA Parmenter unit! This inviting 2 bedroom, 1.5 bathroom open-concept home offers comfortable living with abundant natural light throughout. Enjoy the terrific private patio that opens to an expansive green space, creating the perfect setting for relaxing or entertaining. Thoughtfully designed with spacious living areas and a seamless flow, this charming condo combines comfort, convenience, and a peaceful community atmosphere in a highly desirable location.

Key facts

• $607 HOA
• Community pool
• Built 1967

Property features AI

Finance

• HOA & community: Monthly association fee (includes electricity, water, trash, snow removal, sewer, lawn/yard care, heat); Community clubhouse, meeting room, pool, playground; Pets allowed

Exterior

• Utilities: Public water; Public sewer; Electricity available; Natural gas
• Home design: Colonial-style condominium; Built in 1967
• Construction: Brick and vinyl siding construction; Asphalt roof; Full basement
• Exterior features: Paved road access; Private patio off the dining room

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Oven; Refrigerator
• Bedrooms: Primary bedroom with large closets and abundant natural light; Second bedroom with spacious closet
• Bathrooms: One full bathroom (updated); One half bathroom (updated for guests)
• Heating & cooling: Forced air heating; Has cooling
• Interior features: Eat-in kitchen; Pantry; Screens and insulated replacement windows
• Laundry & utility: Washer; Dryer; Natural gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $199k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-430 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $137k (31.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $196k (1.3% below list).
• Recommended offer: $137k (31.3% below list) — sets the bar for cash-flow.
• Cap rate 3.7% vs local median 2.4% in Northville — 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 88/100 on livability (#13 in MI, #205 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, amenities A+; Watch: commute F.
• Northville Public Schools (suburban): math 68% / reading 75% proficiency, ranked #4 of 540 in MI (top 1%) — strong family-tenant draw, lease renewals of 3-5y typical; only 4% free/reduced lunch — higher-income household profile.
• Market conditions: 145 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 12d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $1k of loan paydown is wiped out by about $6k 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

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 6y 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.

Risks & watch-outs

• Watch-outs: HOA is 31% of rent.

Recommended offer $136,750 (31.3% 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. Built in 1967 — 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 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?
7. 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?
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: 0.99% ✗
• Cap rate: 3.70%
• Cash-on-cash: -9.26%
• DSCR: 0.59
• GRM: 8.4

CMA / ARV

• ARV (median comp): $246,069
• List price: $199,000
• Delta: -19.13%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -32.4%
• Equity multiple: -0.06×
• Total profit: $-59,243
• Equity at exit: $29,672

10-year hold

• IRR: -36.3%
• Equity multiple: -0.53×
• Total profit: $-85,233
• Equity at exit: $17,206

Cash invested: $55,720 (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 48168

• Active inventory: 145
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,965 high
• Mortgage (P&I): −$1,044
• Tax est. 1.5%: −$249 /mo · $2,985/yr
• Insurance: −$83
• HOA: −$607
• Vacancy / Maint / Mgmt: −$413
• Net cashflow: $-430

Break-even live

Break-even rent $2,509

Max offer price $136,750

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18800 Innsbrook Dr Northville, MI	1.0–3.0	1.0–2.0	1061	$1,750	$1.65	1d	5	0.49mi
42824 Swan Lake Dr Northville, MI	1.0–2.0	1.0–2.0	1062	$1,699	$1.60	4d	15	0.58mi
19200 W Harbour Village Dr Northville, MI	2.0	2.0	1222	$1,874	$1.53	11d	10	0.77mi
19675 Ironwood Ct Northville, MI	2.0	1.5	1208	$2,000	$1.66	4d	1	0.83mi
410 E Main St Northville, MI	2.0	1.0	1100	$2,000	$1.82	24d	1	0.94mi
150 Maincentre Northville, MI	1.0–2.0	1.0–2.0	900	$2,534	$2.82	1d	6	0.97mi
19112 Northridge Dr Northville, MI	2.0	2.0	1179	$1,950	$1.65	43d	1	1.03mi
19130 Northridge Dr Northville, MI	2.0	2.0	976	$1,750	$1.79	5d	1	1.03mi
104 W Main St Unit 304 Northville, MI	1.0	1.0	700	$3,500	$5.00	43d	1	1.03mi
19154 Northridge Dr Northville, MI	2.0	2.0	1004	$1,950	$1.94	43d	1	1.10mi
19439 Northridge Dr Northville, MI	2.0	1.0–2.0	880	$1,484	$1.69	43d	4	1.18mi
43001 Northville Place Dr Northville, MI	1.0–2.0	1.0–2.0	1011	$2,198	$2.17	1d	41	1.23mi
695 River Park Village Blvd Northville, MI	2.0	1.5	1251	$2,180	$1.74	1d	1	1.38mi
646 East St Northville, MI	2.0	2.5	1147	$2,850	$2.48	43d	1	1.43mi

HOA detail condo

• Monthly dues: $607 · $7,284/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 8 events

1. 2026-05-14
   historical $199,000 511-char remark

   Show marketing remark (511 chars)

   Adorable sun-filled Kings Mill Cooperative Condo, BA Parmenter unit! This inviting 2 bedroom, 1.5 bathroom open-concept home offers comfortable living with abundant natural light throughout. Enjoy the terrific private patio that opens to an expansive green space, creating the perfect setting for relaxing or entertaining. Thoughtfully designed with spacious living areas and a seamless flow, this charming condo combines comfort, convenience, and a peaceful community atmosphere in a highly desirable location.

2. 2026-05-14
   historical $199,000

   Show marketing remark (511 chars)

   Adorable sun-filled Kings Mill Cooperative Condo, BA Parmenter unit! This inviting 2 bedroom, 1.5 bathroom open-concept home offers comfortable living with abundant natural light throughout. Enjoy the terrific private patio that opens to an expansive green space, creating the perfect setting for relaxing or entertaining. Thoughtfully designed with spacious living areas and a seamless flow, this charming condo combines comfort, convenience, and a peaceful community atmosphere in a highly desirable location.

3. 2020-06-13
   historical
4. 2020-06-13
   historical
5. 2020-06-13
   historical
6. 2020-06-09
   listed $150,000 Active
7. 2020-06-09
   listed $150,000 Active
8. 2020-06-09
   listed $150,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $23,575
• − Mortgage interest: −$11,147
• − Property taxes: −$2,985
• − Insurance: −$995
• − Repairs & maintenance: −$1,886
• − Management: −$1,886
• − HOA: −$7,284
• − Depreciation: −$5,789
• Taxable loss: −$8,397
• Est. tax savings @ 24.0%: +$2,015
• After-tax cash flow: $-3,147/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 · 1 photo

Good 75/100 Cosmetic rehab

This charming 2-bedroom condo is in good condition with a well-maintained exterior and interior. It offers a great location and ample natural light, making it an attractive option for both buyers and renters.

Value-add opportunities

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics.
• Both Landscaping improvements — Enhances curb appeal and can attract more potential buyers or renters.
• Both HVAC maintenance — Ensures comfort and energy efficiency, which is important for both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — Enhances curb appeal and can attract more potential buyers or renters. ↑
• Both HVAC maintenance — Ensures comfort and energy efficiency, which is important for 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: Northville Public Schools
• NCES district ID: 2625980
• Math proficiency: 68% ▼ -5.00%
• Reading proficiency: 75% ▼ -4.00%
• Median HH income: $108,824
• Composite: 66.21/100
• National rank: #431
• State rank: #4 of 540 in MI

Livability — Northville

• Score: 88/100
• State rank: #13
• US rank: #205

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

• City population: 24,713
• Population (ZIP): 25,039

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: Predominantly White (72%)
• Race & ethnicity: White 72% Asian 19% Two or more races 5% Hispanic / Latino 4% Black 2%
• Common ancestry: Romanian 9% Italian 3% Lithuanian 3%
• Foreign-born: 20% · Canada, China, Jamaica
• Languages at home: 77% English-only · Other Indo-European 7% Other Asian/Pacific 5% Chinese 3%

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: ▼ -198.06%
• Current HPI: 176.9122
• Rent YoY: —
• Metro: —
• 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

+32.7% since first listed

14 events — show timeline

• 2026-05-30 Pending — MiRealSource-MiMLS
• 2026-05-30 Pending — REALCOMP
• 2026-05-30 Pending — SW Michigan MLS
• 2026-05-20 Listed $199,000 REALCOMP
• 2026-05-20 Listed $199,000 SW Michigan MLS
• 2026-05-20 Listed $199,000 MiRealSource-MiMLS
• 2026-05-14 Coming Soon $199,000 MiRealSource-MiMLS
• 2026-05-14 Coming Soon $199,000 SW Michigan MLS
• 2020-06-13 Listing Removed — REALCOMP
• 2020-06-13 Listing Removed — MiRealSource-MiMLS
• 2020-06-13 Listing Removed — MiRealSource-MiMLS
• 2020-06-09 Listed $150,000 MiRealSource-MiMLS
• 2020-06-09 Listed $150,000 MiRealSource-MiMLS
• 2020-06-09 Listed $150,000 REALCOMP