28418 W 8 Mile Rd Unit a5 · Farmington Hills, MI 48336

$75,000

1 bd · 1.0 ba · 819 sqft · Condo public records · 136 Days on market

Built 1969 $92/sqft · 8% below area Est $82k · 8% under $246/mo HOA · 19% of rent

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Why this score? — see what drove the B 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 +27.7/30.0
• ARV discount +11.3/15.0
• 1% rule +10.0/10.0
• DSCR +9.7/10.0
• Rent growth +5.0/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this charming 1 bedroom 1 bathroom condo in the heart of Farmington! Spacious and cozy upper unit with a functional layout that's perfect for comfortable, low maintenance living. Enjoy a spacious living room perfect for entertaining, a cozy kitchen with ample cabinet space, custom butcher block counter tops, stainless steel appliances to include a double oven. The intercom and button entry system makes it easy to allow access for your guest to enter. Located in the well-maintained Village Green Community, residents have access to sidewalks, a beautiful pool, and plenty of green space. HOA includes exterior maintenance, snow removal, water and heat. Located conveniently near dining, shopping and major expressways. IMMEDIATE OCCUPANCY- No need to wait to move in and enjoy the easy, worry free, low maintenance CONDO LIFE!

Key facts

• Green space
• Beautiful pool
• Immediate occupancy

Tags

• STAINLESS STEEL APPLIANCES
• DOUBLE OVEN
• BEAUTIFUL POOL
• GREEN SPACE
• IMMEDIATE OCCUPANCY

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $75k.

Deal economics

• At list price, monthly cash flow is $226 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 3.5% in Farmington Hills — 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 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.
• Clarenceville School District (urban): math 18% / reading 33% proficiency, ranked #421 of 540 in MI (top 78%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+10.8%/yr); 156 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 18% of the median local income ($89k/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 $519 of loan paydown is wiped out by about $2k 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 + 8.0% rent growth), your $21k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 136 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 19y ago; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $66,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 136 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1969 — 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 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?
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: 1.74% ✓
• Cap rate: 9.91%
• Cash-on-cash: 12.91%
• DSCR: 1.57
• GRM: 4.8

CMA / ARV

• ARV (median comp): $81,871
• List price: $75,000
• Delta: -8.39%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 10.4%
• Equity multiple: 1.44×
• Total profit: $9,318
• Equity at exit: $11,183

10-year hold

• IRR: 24.4%
• Equity multiple: 3.80×
• Total profit: $58,778
• Equity at exit: $6,485

Cash invested: $21,000 (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 48336

• Rents YoY: 10.8%
• Active inventory: 156
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,303 high
• Mortgage (P&I): −$393
• Tax from tax record: −$133 /mo · $1,595/yr
• Insurance: −$31
• HOA: −$246
• Vacancy / Maint / Mgmt: −$274
• Net cashflow: $226

Break-even live

Break-even rent $1,017

Max offer price $75,000

Occupancy floor 78%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
28530 Grayling Ave Farmington Hills, MI	2.0	1.0	600	$1,295	$2.16	24d	1	0.15mi
28532 Grayling Ave Farmington Hills, MI	2.0	1.0	700	$1,395	$1.99	24d	1	0.17mi
20745 Saint Francis Unit 208 Farmington Hills, MI	2.0	1.0	900	$1,395	$1.55	15d	1	0.37mi
20745 Saint Francis Unit 101 Farmington Hills, MI	2.0	1.0	900	$1,495	$1.66	44d	1	0.37mi
27883 Independence St Farmington Hills, MI	1.0	1.0	750	$975	$1.30	24d	1	0.52mi
20091 Inkster Rd Livonia, MI	2.0	1.0	756	$1,400	$1.85	5d	1	0.62mi
21337 Inkster Rd Unit (NO) Farmington Hills, MI	2.0	1.0	811	$1,295	$1.60	44d	1	0.68mi
31200 Morlock St Livonia, MI	1.0–2.0	1.0	900	$1,160	$1.29	2d	10	1.38mi
23210 Middlebelt Rd Unit 206 Farmington Hills, MI	1.0	1.0	750	$1,195	$1.59	44d	1	1.49mi
23210 Middlebelt Rd Farmington Hills, MI	1.0	1.0	750	$1,195	$1.59	13d	1	1.49mi
23210 Middlebelt Rd Unit 205 Farmington Hills, MI	1.0	1.0	750	$1,195	$1.59	11d	1	1.49mi
23210 Middlebelt Rd Unit 108 Farmington Hills, MI	1.0	1.0	750	$1,195	$1.59	5d	1	1.49mi

HOA detail condo

• Monthly dues: $246 · $2,952/yr
• Likely covers: watersnow removalexterior maint.pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 36 events

1. 2026-06-18
   days on market $75,000 Active 136 DOM
2. 2026-06-17
   days on market $75,000 Active 135 DOM
3. 2026-06-16
   days on market $75,000 Active 134 DOM
4. 2026-06-15
   days on market $75,000 Active 133 DOM
5. 2026-06-13
   days on market $75,000 Active 131 DOM
6. 2026-06-13
   days on market $75,000 Active 130 DOM
7. 2026-06-09
   days on market $75,000 Active 127 DOM
8. 2026-06-08
   days on market $75,000 Active 126 DOM
9. 2026-06-07
   days on market $75,000 Active 125 DOM
10. 2026-06-04
    days on market $75,000 Active 122 DOM
11. 2026-06-03
    days on market $75,000 Active 121 DOM
12. 2026-06-02
    days on market $75,000 Active 120 DOM
13. 2026-06-01
    days on market $75,000 Active 119 DOM
14. 2026-05-31
    days on market $75,000 Active 118 DOM
15. 2026-05-17
    price $75,000 846-char remark

    Show marketing remark (846 chars)

    Welcome home to this charming 1 bedroom 1 bathroom condo in the heart of Farmington! Spacious and cozy upper unit with a functional layout that's perfect for comfortable, low maintenance living. Enjoy a spacious living room perfect for entertaining, a cozy kitchen with ample cabinet space, custom butcher block counter tops, stainless steel appliances to include a double oven. The intercom and button entry system makes it easy to allow access for your guest to enter. Located in the well-maintained Village Green Community, residents have access to sidewalks, a beautiful pool, and plenty of green space. HOA includes exterior maintenance, snow removal, water and heat. Located conveniently near dining, shopping and major expressways. IMMEDIATE OCCUPANCY- No need to wait to move in and enjoy the easy, worry free, low maintenance CONDO LIFE!

16. 2026-05-17
    price $75,000 846-char remark

    Show marketing remark (846 chars)

    Welcome home to this charming 1 bedroom 1 bathroom condo in the heart of Farmington! Spacious and cozy upper unit with a functional layout that's perfect for comfortable, low maintenance living. Enjoy a spacious living room perfect for entertaining, a cozy kitchen with ample cabinet space, custom butcher block counter tops, stainless steel appliances to include a double oven. The intercom and button entry system makes it easy to allow access for your guest to enter. Located in the well-maintained Village Green Community, residents have access to sidewalks, a beautiful pool, and plenty of green space. HOA includes exterior maintenance, snow removal, water and heat. Located conveniently near dining, shopping and major expressways. IMMEDIATE OCCUPANCY- No need to wait to move in and enjoy the easy, worry free, low maintenance CONDO LIFE!

17. 2026-02-03
    listed $79,900 Active 846-char remark

    Show marketing remark (846 chars)

    Welcome home to this charming 1 bedroom 1 bathroom condo in the heart of Farmington! Spacious and cozy upper unit with a functional layout that's perfect for comfortable, low maintenance living. Enjoy a spacious living room perfect for entertaining, a cozy kitchen with ample cabinet space, custom butcher block counter tops, stainless steel appliances to include a double oven. The intercom and button entry system makes it easy to allow access for your guest to enter. Located in the well-maintained Village Green Community, residents have access to sidewalks, a beautiful pool, and plenty of green space. HOA includes exterior maintenance, snow removal, water and heat. Located conveniently near dining, shopping and major expressways. IMMEDIATE OCCUPANCY- No need to wait to move in and enjoy the easy, worry free, low maintenance CONDO LIFE!

18. 2026-02-02
    listed $79,900 Active 846-char remark

    Show marketing remark (846 chars)

    Welcome home to this charming 1 bedroom 1 bathroom condo in the heart of Farmington! Spacious and cozy upper unit with a functional layout that's perfect for comfortable, low maintenance living. Enjoy a spacious living room perfect for entertaining, a cozy kitchen with ample cabinet space, custom butcher block counter tops, stainless steel appliances to include a double oven. The intercom and button entry system makes it easy to allow access for your guest to enter. Located in the well-maintained Village Green Community, residents have access to sidewalks, a beautiful pool, and plenty of green space. HOA includes exterior maintenance, snow removal, water and heat. Located conveniently near dining, shopping and major expressways. IMMEDIATE OCCUPANCY- No need to wait to move in and enjoy the easy, worry free, low maintenance CONDO LIFE!

19. 2024-03-28
    soldstatus $72,500
20. 2024-02-22
    listed $70,000
21. 2020-02-26
    soldstatus $35,000
22. 2018-09-20
    soldstatus $58,000 Sold
23. 2018-09-20
    soldstatus $58,000 Closed
24. 2018-09-12
    status Pending
25. 2018-09-11
    status Pending
26. 2018-09-04
    listed $60,000 Active
27. 2018-09-04
    listed $60,000 Active
28. 2012-05-14
    soldstatus $21,000
29. 2012-04-27
    historical
30. 2011-11-15
    listed $27,900
31. 2008-01-17
    soldstatus $28,900
32. 2007-12-27
    historical
33. 2007-11-27
    listed $29,900
34. 1997-02-11
    soldstatus $34,500
35. 1996-02-26
    soldstatus $35,000
36. 1978-04-01
    soldstatus $25,500

ⓘ 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: $1,595 · $133/mo
• Projected year-2 tax: $1,595 · $133/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 · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,637
• − Mortgage interest: −$4,201
• − Property taxes: −$1,595
• − Insurance: −$375
• − Repairs & maintenance: −$1,251
• − Management: −$1,251
• − HOA: −$2,952
• − Depreciation: −$2,182
• Taxable income: $1,830
• Est. tax owed @ 24.0%: −$439
• After-tax cash flow: $2,272/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: Clarenceville School District
• NCES district ID: 2609840
• Math proficiency: 18% ▼ -7.00%
• Reading proficiency: 33% ▼ -5.00%
• Median HH income: $42,069
• Composite: 21.65/100
• National rank: #8282
• State rank: #421 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

+194.1% since first listed

22 events — show timeline

• 2026-05-17 Price Changed $75,000 MiRealSource-MiMLS
• 2026-05-17 Price Changed $75,000 REALCOMP
• 2026-02-03 Listed $79,900 REALCOMP
• 2026-02-02 Listed $79,900 MiRealSource-MiMLS
• 2024-03-28 Sold (MLS) $72,500 REALCOMP
• 2024-02-22 Listed $70,000 REALCOMP
• 2020-02-26 Sold (Public Records) $35,000 Public Records
• 2018-09-20 Sold (MLS) $58,000 MiRealSource-MiMLS
• 2018-09-20 Sold (MLS) $58,000 REALCOMP
• 2018-09-12 Pending — MiRealSource-MiMLS
• 2018-09-11 Pending — REALCOMP
• 2018-09-04 Listed $60,000 MiRealSource-MiMLS
• 2018-09-04 Listed $60,000 REALCOMP
• 2012-05-14 Sold (MLS) $21,000 MiRealSource-MiMLS
• 2012-04-27 Listing Removed — MiRealSource-MiMLS
• 2011-11-15 Listed $27,900 MiRealSource-MiMLS
• 2008-01-17 Sold (MLS) $28,900 MiRealSource-MiMLS
• 2007-12-27 Listing Removed — MiRealSource-MiMLS
• 2007-11-27 Listed $29,900 MiRealSource-MiMLS
• 1997-02-11 Sold (Public Records) $34,500 Public Records
• 1996-02-26 Sold (Public Records) $35,000 Public Records
• 1978-04-01 Sold (Public Records) $25,500 Public Records

Property tax history

+13.7%/yr

Latest (2025): $1,595 · -2.1% YoY. Source: county tax records.