22241 Atlantic Pts · Farmington Hills, MI 48336

$155,000

2 bd · 2.5 ba · 1,015 sqft · Condo public records · 43 Days on market

Built 1995 $153/sqft · 10% below area Est $172k · 10% under $305/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 +12.1/15.0
• Cash flow +6.6/30.0
• Rent growth +5.0/5.0
• Schools +4.6/10.0
• 1% rule +4.3/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• DSCR +0.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this well-maintained ground-floor condo featuring newer carpeting and a desirable private entrance. The home offers two spacious bedrooms, each with its own full en-suite bathroom, providing comfort and privacy. Enjoy the convenience of in-unit laundry, a first-floor guest lavatory, and a fully equipped kitchen with all appliances included—highlighted by a newer stove and microwave. Residents of the community enjoy access to a clubhouse and swimming pool, along with assigned carport parking and additional guest parking. The association fee includes water, lawn care, exterior maintenance, and snow removal, making for easy, low-maintenance living. Ideally located close to shopping, dining, and major expressways, this inviting condo is move-in ready and waiting for you to call it home.

Key facts

• Guest parking
• Private entrance
• In unit laundry

Tags

• PRIVATE ENTRANCE
• IN UNIT LAUNDRY
• FULLY EQUIPPED KITCHEN
• ASSIGNED CARPORT PARKING
• GUEST PARKING
• LOW MAINTENANCE LIVING

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath condo listed at $155k.

Deal economics

• At list price, monthly cash flow is $-252 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $111k (28.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (6.8% below list).
• Recommended offer: $111k (28.7% below list) — sets the bar for cash-flow.
• Cap rate 4.3% vs local median 3.5% in Farmington Hills — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 81/100 on livability (#64 in MI, #1,364 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, crime A; Watch: amenities D, health & safety F.
• Farmington Public School District (urban): math 45% / reading 58% proficiency, ranked #78 of 540 in MI (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 19% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+10.8%/yr); 156 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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 43 days — a 3% lower offer ($150k) is reasonable based on typical stale-listing flexibility.
• 21 sale attempts since 24y 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 $103k; list at $155k implies a 50% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $110,512 (28.7% 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 43 days. Have you received any prior offers? Is the seller open to a 29% concession, seller financing, or rate buy-down credit?
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 B-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: 0.93% ✗
• Cap rate: 4.34%
• Cash-on-cash: -6.96%
• DSCR: 0.69
• GRM: 8.9

CMA / ARV

• ARV (median comp): $172,466
• List price: $155,000
• Delta: -10.13%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -20.9%
• Equity multiple: 0.23×
• Total profit: $-33,300
• Equity at exit: $23,111

10-year hold

• IRR: -3.8%
• Equity multiple: 0.68×
• Total profit: $-13,999
• Equity at exit: $13,402

Cash invested: $43,400 (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 48336

• Rents YoY: 10.8%
• Active inventory: 156
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,445 high
• Mortgage (P&I): −$813
• Tax from tax record: −$211 /mo · $2,532/yr
• Insurance: −$65
• HOA: −$305
• Vacancy / Maint / Mgmt: −$303
• Net cashflow: $-252

Break-even live

Break-even rent $1,764

Max offer price $110,512

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
23085 Floral St Farmington, MI	2.0	1.0	950	$1,495	$1.57	10d	1	0.59mi
23237 Tulane Ave Farmington Hills, MI	3.0	1.5	1104	$2,000	$1.81	10d	1	0.74mi
23210 Middlebelt Rd Farmington Hills, MI	1.0	1.0	750	$1,195	$1.59	12d	1	0.77mi
23210 Middlebelt Rd Unit 108 Farmington Hills, MI	1.0	1.0	750	$1,195	$1.59	4d	1	0.77mi
23210 Middlebelt Rd Unit 206 Farmington Hills, MI	1.0	1.0	750	$1,195	$1.59	43d	1	0.77mi
23210 Middlebelt Rd Unit 205 Farmington Hills, MI	1.0	1.0	750	$1,195	$1.59	10d	1	0.77mi
23812 Middlebelt Rd Farmington Hills, MI	1.0	1.0	750	$1,110	$1.48	43d	1	1.02mi
28532 Grayling Ave Farmington Hills, MI	2.0	1.0	700	$1,395	$1.99	24d	1	1.08mi
31200 Morlock St Livonia, MI	1.0–2.0	1.0	900	$1,505	$1.67	1d	10	1.14mi
27883 Independence St Farmington Hills, MI	1.0	1.0	750	$975	$1.30	24d	1	1.21mi
23611 Bicking Ct Farmington, MI	3.0	1.0	1117	$2,100	$1.88	43d	1	1.31mi
33203 N Manor Dr Farmington, MI	1.0–2.0	1.0	855	$1,478	$1.73	2d	14	1.43mi
20745 Saint Francis Unit 208 Farmington Hills, MI	2.0	1.0	900	$1,395	$1.55	14d	1	1.48mi
20745 Saint Francis Unit 101 Farmington Hills, MI	2.0	1.0	900	$1,495	$1.66	43d	1	1.48mi

HOA detail condo

• Monthly dues: $305 · $3,660/yr
• Likely covers: waterlandscapingsnow removalexterior maint.pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 50 events

1. 2026-06-15
   statusdays on market $155,000 Pending 43 DOM
2. 2026-06-13
   days on market $155,000 Active 42 DOM
3. 2026-06-13
   days on market $155,000 Active 41 DOM
4. 2026-06-09
   days on market $155,000 Active 38 DOM
5. 2026-06-08
   days on market $155,000 Active 37 DOM
6. 2026-06-07
   days on market $155,000 Active 36 DOM
7. 2026-06-04
   days on market $155,000 Active 33 DOM
8. 2026-06-02
   days on market $155,000 Active 31 DOM
9. 2026-06-01
   days on market $155,000 Active 30 DOM
10. 2026-05-31
    days on market $155,000 Active 29 DOM
11. 2026-05-07
    status Active 810-char remark

    Show marketing remark (810 chars)

    Welcome to this well-maintained ground-floor condo featuring newer carpeting and a desirable private entrance. The home offers two spacious bedrooms, each with its own full en-suite bathroom, providing comfort and privacy. Enjoy the convenience of in-unit laundry, a first-floor guest lavatory, and a fully equipped kitchen with all appliances included—highlighted by a newer stove and microwave. Residents of the community enjoy access to a clubhouse and swimming pool, along with assigned carport parking and additional guest parking. The association fee includes water, lawn care, exterior maintenance, and snow removal, making for easy, low-maintenance living. Ideally located close to shopping, dining, and major expressways, this inviting condo is move-in ready and waiting for you to call it home.

12. 2026-04-26
    status Pending 810-char remark

    Show marketing remark (810 chars)

    Welcome to this well-maintained ground-floor condo featuring newer carpeting and a desirable private entrance. The home offers two spacious bedrooms, each with its own full en-suite bathroom, providing comfort and privacy. Enjoy the convenience of in-unit laundry, a first-floor guest lavatory, and a fully equipped kitchen with all appliances included—highlighted by a newer stove and microwave. Residents of the community enjoy access to a clubhouse and swimming pool, along with assigned carport parking and additional guest parking. The association fee includes water, lawn care, exterior maintenance, and snow removal, making for easy, low-maintenance living. Ideally located close to shopping, dining, and major expressways, this inviting condo is move-in ready and waiting for you to call it home.

13. 2026-04-21
    listed $155,000 Active 810-char remark

    Show marketing remark (810 chars)

    Welcome to this well-maintained ground-floor condo featuring newer carpeting and a desirable private entrance. The home offers two spacious bedrooms, each with its own full en-suite bathroom, providing comfort and privacy. Enjoy the convenience of in-unit laundry, a first-floor guest lavatory, and a fully equipped kitchen with all appliances included—highlighted by a newer stove and microwave. Residents of the community enjoy access to a clubhouse and swimming pool, along with assigned carport parking and additional guest parking. The association fee includes water, lawn care, exterior maintenance, and snow removal, making for easy, low-maintenance living. Ideally located close to shopping, dining, and major expressways, this inviting condo is move-in ready and waiting for you to call it home.

14. 2026-04-20
    historical $1,550
15. 2026-04-20
    historical
16. 2026-04-20
    historical
17. 2026-03-14
    price $161,000
18. 2026-03-13
    price $161,000
19. 2025-12-28
    listed $163,000 Active
20. 2025-12-28
    listed $163,000 Active
21. 2025-12-23
    listed $1,550
22. 2025-05-08
    historical $1,600
23. 2025-04-27
    listed $1,600
24. 2025-04-21
    historical $1,700
25. 2025-04-11
    price $1,700
26. 2025-04-09
    listed $1,850
27. 2019-03-15
    soldstatus $103,000
28. 2019-03-07
    historical
29. 2019-02-15
    status Pending
30. 2019-02-15
    status Pending
31. 2019-02-08
    historical
32. 2018-12-20
    listed $110,000 Active
33. 2018-12-20
    listed $110,000 Active
34. 2016-07-22
    soldstatus $85,000
35. 2016-07-12
    soldstatus $85,000 Sold
36. 2016-07-12
    soldstatus $85,000 Closed
37. 2016-06-30
    status Pending
38. 2016-06-30
    status Pending
39. 2016-06-03
    status Active
40. 2016-06-02
    status Active
41. 2016-04-17
    status Pending
42. 2016-04-15
    status Pending
43. 2016-04-13
    listed $97,900 Active
44. 2016-04-11
    listed $97,900 Active
45. 2008-08-01
    soldstatus $875
46. 2008-07-05
    historical
47. 2008-07-05
    historical
48. 2008-07-02
    historical
49. 2008-05-21
    listed $875
50. 2008-03-26
    listed $108,900

ⓘ 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: $2,532 · $211/mo
• Projected year-2 tax: $2,532 · $211/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,341
• − Mortgage interest: −$8,682
• − Property taxes: −$2,532
• − Insurance: −$775
• − Repairs & maintenance: −$1,387
• − Management: −$1,387
• − HOA: −$3,660
• − Depreciation: −$4,509
• Taxable loss: −$5,592
• Est. tax savings @ 24.0%: +$1,342
• After-tax cash flow: $-1,680/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: Farmington Public School District
• NCES district ID: 2614070
• Math proficiency: 45% ▼ -5.00%
• Reading proficiency: 58% ▼ -1.00%
• Median HH income: $72,846
• Composite: 46.17/100
• National rank: #2497
• State rank: #78 of 540 in MI

Livability — Farmington Hills

• Score: 81/100
• State rank: #64
• US rank: #1364

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Farmington Hills, MI
• County: Oakland County · 1,009,092 people
• City population: 67,612
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 26,432
• Household income: $88,938
• Rent vs Own: 28.8% rent · 71.2% own
• Severe rent burden: 733.0

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 (71%)
• Race & ethnicity: White 71% Black 13% Two or more races 7% Asian 6% Hispanic / Latino 4%
• Common ancestry: Romanian 10% Slovak 3% Lithuanian 3%
• Foreign-born: 12% · Canada, China, South Korea
• Languages at home: 85% English-only · Other Indo-European 5% Arabic 2% Spanish 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: ▼ -273.86%
• Current HPI: 177.4299
• Rent YoY: ▲ 10.83%
• 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

+19.2% since first listed

55 events — show timeline

• 2026-05-07 Relisted — MiRealSource-MiMLS
• 2026-04-26 Pending — MiRealSource-MiMLS
• 2026-04-21 Listed $155,000 MiRealSource-MiMLS
• 2026-04-20 Rental Removed $1,550 REALSOURCE
• 2026-04-20 Listing Removed — MiRealSource-MiMLS
• 2026-04-20 Listing Removed — REALCOMP
• 2026-03-14 Price Changed $161,000 MiRealSource-MiMLS
• 2026-03-13 Price Changed $161,000 REALCOMP
• 2025-12-28 Listed $163,000 MiRealSource-MiMLS
• 2025-12-28 Listed $163,000 REALCOMP
• 2025-12-23 Listed for Rent $1,550 REALSOURCE
• 2025-05-08 Rental Removed $1,600 REALSOURCE
• 2025-04-27 Listed for Rent $1,600 REALSOURCE
• 2025-04-21 Rental Removed $1,700 REALSOURCE
• 2025-04-11 Price Changed $1,700 REALSOURCE
• 2025-04-09 Listed for Rent $1,850 REALSOURCE
• 2019-03-15 Sold (Public Records) $103,000 Public Records
• 2019-03-07 Listing Removed — REALCOMP
• 2019-02-15 Pending — MiRealSource-MiMLS
• 2019-02-15 Pending — REALCOMP
• 2019-02-08 Listing Removed — MiRealSource-MiMLS
• 2018-12-20 Listed $110,000 MiRealSource-MiMLS
• 2018-12-20 Listed $110,000 REALCOMP
• 2016-07-22 Sold (Public Records) $85,000 Public Records
• 2016-07-12 Sold (MLS) $85,000 MiRealSource-MiMLS
• 2016-07-12 Sold (MLS) $85,000 REALCOMP
• 2016-06-30 Pending — MiRealSource-MiMLS
• 2016-06-30 Pending — REALCOMP
• 2016-06-03 Relisted — MiRealSource-MiMLS
• 2016-06-02 Relisted — REALCOMP
• 2016-04-17 Pending — MiRealSource-MiMLS
• 2016-04-15 Pending — REALCOMP
• 2016-04-13 Listed $97,900 MiRealSource-MiMLS
• 2016-04-11 Listed $97,900 REALCOMP
• 2008-08-01 Sold (MLS) $875 MiRealSource-MiMLS
• 2008-07-05 Listing Removed — REALCOMP
• 2008-07-05 Listing Removed — MiRealSource-MiMLS
• 2008-07-02 Listing Removed — MiRealSource-MiMLS
• 2008-05-21 Listed $875 MiRealSource-MiMLS
• 2008-03-26 Listing Removed — REALCOMP
• 2008-03-26 Listing Removed — MiRealSource-MiMLS
• 2008-03-26 Listed $108,900 REALCOMP
• 2008-03-26 Listed $108,900 MiRealSource-MiMLS
• 2008-01-31 Listed $114,900 REALCOMP
• 2008-01-31 Listed $114,900 MiRealSource-MiMLS
• 2005-05-02 Sold (Public Records) $124,000 Public Records
• 2005-04-15 Sold (MLS) $124,000 MiRealSource-MiMLS
• 2005-03-18 Listing Removed — MiRealSource-MiMLS
• 2004-10-25 Listing Removed — MiRealSource-MiMLS
• 2004-10-25 Listed $129,900 MiRealSource-MiMLS
• 2004-08-27 Listed $138,900 MiRealSource-MiMLS
• 2002-03-13 Sold (Public Records) $129,000 Public Records
• 2002-02-20 Sold (MLS) $129,000 MiRealSource-MiMLS
• 2002-01-25 Listing Removed — MiRealSource-MiMLS
• 2002-01-08 Listed $129,999 MiRealSource-MiMLS

Property tax history

+8.8%/yr

Latest (2025): $2,532 · -21.3% YoY. Source: county tax records.