1675 Ledbury Dr · Troy, MI 48304

$375,000

3 bd · 1.5 ba · 1,980 sqft · SingleFamily public records · 2 Days on market

Built 1965 0.87 ac lot $189/sqft · 43% above area Est $486k · 23% under $5/mo HOA

---

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 +19.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.1/10.0
• 1% rule +4.7/10.0
• Livability +3.9/5.0
• Schools +3.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Excellent Location in the heart of Bloomfield, this Chapel Hill Estate RANCH Home on almost 1 ACRE is yours for the taking!! Decades long owners raised their family here, now it's your turn to make new memories. Bring your palette and vision: fresh paint, flooring, hardware and fixtures throughout will transform this highly sought 1-STORY LAYOUT, with Full Vintage Finished Basement including WET BAR (including the perfectly fitting retro stools, a must keep :)), into a GEM. Plenty of equity left on the table to make this your own, don't overlook the opportunity. Very solid bones, great 3 bedroom/2 full bath layout with a sizeable, private HOME OFFICE. The primary bedroom has it's own ensuite with walk in shower. Kitchen was updated in the early 2000s with granite counters, in addition to having a nook eating area, plus a formal dining room. Very spacious Great Room features a brick gas fireplace for cozy winter evenings and ambience. Newer dimensional roof shingles, approx 2023. Easy and quick proximity to I75, shopping, restaurants, etc. Come see for yourself . ..

Key facts

• Wet bar
• Updated kitchen
• Brick gas fireplace

Tags

• VINTAGE FINISHED BASEMENT
• WET BAR
• PRIVATE HOME OFFICE
• UPDATED KITCHEN
• BRICK GAS FIREPLACE
• QUICK PROXIMITY TO I75

Property features AI

Finance

• Other: Paved road access; Lot dimensions approximately 120 x 220 x 87 x 140 x 204; Directions: West of Adams Rd, south off South Blvd to Ledbury Dr; home is on the left; Subdivision: CHAPEL HILL ESTATES 1; Cross streets: South Blvd and Adams Rd
• HOA & community: Homeowners association with an annual fee of $60 (about $5/month)

Exterior

• Parking: Attached oversized garage with direct access and garage door opener (about 2.5 spaces); Driveway; Garage faces side
• Security: Smoke detectors; Pets allowed
• Utilities: Public water; Septic sewer; Circuit breaker electrical service
• Home design: Single family residence; One level; Ground-level entry with steps
• Construction: Brick and other exterior materials; Asphalt roof; Block foundation; Built area above grade and finished, with additional finished space below grade
• Exterior features: Covered patio and porch; Exterior lighting; Wooded, irregular lot

Interior

• Kitchen: Dishwasher; Disposal; Free‑standing electric range; Free‑standing refrigerator; Gas water heater
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Exhaust fan; Central air; Attic fan
• Interior features: High-speed internet; Wet bar; Furnished; Gas fireplace in the great room; Finished full basement
• Laundry & utility: Laundry room with washer hookup and electric dryer hookup; Washer included; Dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $375k.

Deal economics

• At list price, monthly cash flow is $419 ($5k/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 $365k (2.7% below list).
• Recommended offer: $365k (2.7% below list) — sets the bar for 1% rule.
• Cap rate 7.6% vs local median 3.6% in Troy — 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 78/100 on livability (#113 in MI, #2,684 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, housing A+, schools A; Watch: health & safety D+, amenities F, commute F.
• Avondale School District (suburban): math 34% / reading 48% proficiency, ranked #162 of 540 in MI (top 30%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 128 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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).
• This rent runs 31% of the median local income ($143k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Recommended offer $364,790 (2.7% below list)

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.97% ✗
• Cap rate: 7.63%
• Cash-on-cash: 4.79%
• DSCR: 1.21
• GRM: 8.6

CMA / ARV

• ARV (median comp): $486,364
• List price: $375,000
• Delta: -22.90%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1530 Ashover Dr	0.09mi	3/2.0	1,827 (-8%)	10mo	$427,400	$234	73
942 Linden Way	0.38mi	3/2.5	2,146 (+8%)	2mo	$429,000	$200	63
3901 Nelda Hill Ln	0.73mi	3/2.5	1,951 (-2%)	15mo	$365,000	$187	47
6978 Dublin Fair Rd	0.56mi	4/3.0 (+1)	2,232 (+13%)	16mo	$430,000	$193	28

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -8.9%
• Equity multiple: 0.68×
• Total profit: $-34,101
• Equity at exit: $55,914

10-year hold

• IRR: 0.6%
• Equity multiple: 1.04×
• Total profit: $4,575
• Equity at exit: $32,423

Cash invested: $105,000 (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: 8.6×

Monthly cashflow live

• Estimated rent: $3,648 high
• Mortgage (P&I): −$1,967
• Tax from tax record: −$335 /mo · $4,020/yr
• Insurance: −$156
• HOA: −$5
• Vacancy / Maint / Mgmt: −$766
• Net cashflow: $419

Break-even live

Break-even rent $3,117

Max offer price $375,000

Occupancy floor 84%

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: $93,750
• Closing costs: $11,250
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3200 South Blvd Bloomfield Hills, MI	2.0–3.0	2.0	1782	$4,250	$2.38	2d	1	0.76mi
920 Heritage Dr Bloomfield Township, MI	2.0	2.0	1804	$3,600	$2.00	2d	1	0.79mi
915 Huntclub Blvd Auburn Hills, MI	4.0	2.5	2403	$3,200	$1.33	15d	1	1.02mi
124 Optimist Auburn Hills, MI	2.0–3.0	2.0–2.5	1914	$3,535	$1.85	2d	9	1.45mi
124 Optimist Unit 1201 Rochester Hills, MI	3.0	2.5	2504	$3,535	$1.41	2d	1	1.45mi

HOA detail

• Monthly dues: $5 · $60/yr
• Likely covers: gas

Listing history 4 events

1. 2026-05-10
   status Pending 1081-char remark

   Show marketing remark (1081 chars)

   Excellent Location in the heart of Bloomfield, this Chapel Hill Estate RANCH Home on almost 1 ACRE is yours for the taking!! Decades long owners raised their family here, now it's your turn to make new memories. Bring your palette and vision: fresh paint, flooring, hardware and fixtures throughout will transform this highly sought 1-STORY LAYOUT, with Full Vintage Finished Basement including WET BAR (including the perfectly fitting retro stools, a must keep :)), into a GEM. Plenty of equity left on the table to make this your own, don't overlook the opportunity. Very solid bones, great 3 bedroom/2 full bath layout with a sizeable, private HOME OFFICE. The primary bedroom has it's own ensuite with walk in shower. Kitchen was updated in the early 2000s with granite counters, in addition to having a nook eating area, plus a formal dining room. Very spacious Great Room features a brick gas fireplace for cozy winter evenings and ambience. Newer dimensional roof shingles, approx 2023. Easy and quick proximity to I75, shopping, restaurants, etc. Come see for yourself . ..

2. 2026-05-10
   status Pending 1082-char remark

   Show marketing remark (1081 chars)

   Excellent Location in the heart of Bloomfield, this Chapel Hill Estate RANCH Home on almost 1 ACRE is yours for the taking!! Decades long owners raised their family here, now it's your turn to make new memories. Bring your palette and vision: fresh paint, flooring, hardware and fixtures throughout will transform this highly sought 1-STORY LAYOUT, with Full Vintage Finished Basement including WET BAR (including the perfectly fitting retro stools, a must keep :)), into a GEM. Plenty of equity left on the table to make this your own, don't overlook the opportunity. Very solid bones, great 3 bedroom/2 full bath layout with a sizeable, private HOME OFFICE. The primary bedroom has it's own ensuite with walk in shower. Kitchen was updated in the early 2000s with granite counters, in addition to having a nook eating area, plus a formal dining room. Very spacious Great Room features a brick gas fireplace for cozy winter evenings and ambience. Newer dimensional roof shingles, approx 2023. Easy and quick proximity to I75, shopping, restaurants, etc. Come see for yourself . ..

3. 2026-05-07
   listed $375,000 Active 1081-char remark

   Show marketing remark (1081 chars)

   Excellent Location in the heart of Bloomfield, this Chapel Hill Estate RANCH Home on almost 1 ACRE is yours for the taking!! Decades long owners raised their family here, now it's your turn to make new memories. Bring your palette and vision: fresh paint, flooring, hardware and fixtures throughout will transform this highly sought 1-STORY LAYOUT, with Full Vintage Finished Basement including WET BAR (including the perfectly fitting retro stools, a must keep :)), into a GEM. Plenty of equity left on the table to make this your own, don't overlook the opportunity. Very solid bones, great 3 bedroom/2 full bath layout with a sizeable, private HOME OFFICE. The primary bedroom has it's own ensuite with walk in shower. Kitchen was updated in the early 2000s with granite counters, in addition to having a nook eating area, plus a formal dining room. Very spacious Great Room features a brick gas fireplace for cozy winter evenings and ambience. Newer dimensional roof shingles, approx 2023. Easy and quick proximity to I75, shopping, restaurants, etc. Come see for yourself . ..

4. 2026-05-07
   listed $375,000 Active 1082-char remark

   Show marketing remark (1081 chars)

   Excellent Location in the heart of Bloomfield, this Chapel Hill Estate RANCH Home on almost 1 ACRE is yours for the taking!! Decades long owners raised their family here, now it's your turn to make new memories. Bring your palette and vision: fresh paint, flooring, hardware and fixtures throughout will transform this highly sought 1-STORY LAYOUT, with Full Vintage Finished Basement including WET BAR (including the perfectly fitting retro stools, a must keep :)), into a GEM. Plenty of equity left on the table to make this your own, don't overlook the opportunity. Very solid bones, great 3 bedroom/2 full bath layout with a sizeable, private HOME OFFICE. The primary bedroom has it's own ensuite with walk in shower. Kitchen was updated in the early 2000s with granite counters, in addition to having a nook eating area, plus a formal dining room. Very spacious Great Room features a brick gas fireplace for cozy winter evenings and ambience. Newer dimensional roof shingles, approx 2023. Easy and quick proximity to I75, shopping, restaurants, etc. Come see for yourself . ..

ⓘ 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: $4,020 · $335/mo
• Projected year-2 tax: $4,898 · $408/mo
• Expected delta: +$878/yr (+$73/mo · 21.8%)

ⓘ 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 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: $43,775
• − Mortgage interest: −$21,006
• − Property taxes: −$4,020
• − Insurance: −$1,875
• − Repairs & maintenance: −$3,502
• − Management: −$3,502
• − HOA: −$60
• − Depreciation: −$10,909
• Taxable loss: −$1,099
• Est. tax savings @ 24.0%: +$264
• After-tax cash flow: $5,292/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: Avondale School District
• NCES district ID: 2603690
• Math proficiency: 34% ▼ -8.00%
• Reading proficiency: 48% ▼ -4.00%
• Median HH income: $71,549
• Composite: 37.33/100
• National rank: #4442
• State rank: #162 of 540 in MI

Livability — Troy

• Score: 78/100
• State rank: #113
• US rank: #2684

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Oakland County · 1,009,092 people
• City population: 87,898
• 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

+0.0% since first listed

4 events — show timeline

• 2026-05-10 Pending — MiRealSource-MiMLS
• 2026-05-10 Pending — REALCOMP
• 2026-05-07 Listed $375,000 REALCOMP
• 2026-05-07 Listed $375,000 MiRealSource-MiMLS

Property tax history

+2.1%/yr

Latest (2025): $4,020 · +2.7% YoY. Source: county tax records.