5216 Brett Ct · Farmington Hills, MI 48322

$255,000

3 bd · 2.5 ba · 2,356 sqft · Condo public records · 41 Days on market

Built 1973 $108/sqft · at area comps Est $263k · at est. $366/mo HOA · 13% 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).

• Cash flow +14.9/30.0
• ARV discount +8.8/15.0
• 1% rule +6.0/10.0
• DSCR +4.6/10.0
• Schools +4.5/10.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Step inside this nice townhouse condo! Hardwood floors throughout the main level. Kitchen with Corian countertops and tiled backsplash. Open Living and Dining rooms with recessed lighting and gas fireplace. Family Room/Breakfast Room opens to deck. Nice powder room. Primary Suite with w-i-c and updated bath. Main bathroom with jetted tub and nice vanity. Ceiling fans in all bedrooms. Finished basement with ceramic tile. Lots of storage. Newer water heater and A/C unit. New garage floor. Low Association dues! Includes water, sewer, trash, lawn, snow removal and exterior maintenance.

Key facts

• Corian countertops
• Tiled backsplash
• Gas fireplace

Tags

• HARDWOOD FLOORS
• CORIAN COUNTERTOPS
• TILED BACKSPLASH
• GAS FIREPLACE
• DECK
• JETTED TUB

Property features AI

Finance

• Other: Subdivision: POTOMAC TOWNE I; Directions: Enter Potomac W off Farmington Rd, left on Potomac Run, right on Brett Ct
• HOA & community: Homeowners association with monthly fee; Monthly association fee of $366; Association maintains grounds and structures; Association fee includes insurance, pest control, sewer, snow removal, trash, and water

Exterior

• Parking: Attached garage with direct access; 2 garage spaces; Garage door opener; Parking pad
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Electric service with circuit breakers; Cable available
• Home design: Residential condominium; Two levels; Ground-level entry
• Construction: Wood siding; Home warranty included
• Exterior features: Porch; Asphalt roof; Paved private road with private maintenance; Private entrance

Interior

• Kitchen: Electric cooktop; Free-standing electric oven; Range hood; Microwave; Dishwasher; Free-standing refrigerator; Stainless steel appliances
• Bedrooms: Total of 8 rooms (includes bedrooms and living spaces)
• Bathrooms: Two full bathrooms; One half bathroom; Therapeutic whirlpool (accessibility feature)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Attic fan; Ceiling fans
• Interior features: Gas fireplace in the living room; Finished full basement; Private entrance; Therapeutic whirlpool; Smoke detectors installed
• Laundry & utility: In-unit washer and dryer

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $255k.

Deal economics

• At list price, monthly cash flow is $76 ($908/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $255k).
• Recommended offer: $247k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.6% 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.
• West Bloomfield School District (suburban): math 42% / reading 55% proficiency, ranked #83 of 540 in MI (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.4%/yr); 181 active listings in the ZIP; 7 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 41 days — a 3% lower offer ($247k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 17y 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.

Recommended offer $247,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1973 — 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 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: 1.10% ✓
• Cap rate: 6.65%
• Cash-on-cash: 1.27%
• DSCR: 1.06
• GRM: 7.6

CMA / ARV

• ARV (median comp): $262,650
• List price: $255,000
• Delta: -2.91%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -18.3%
• Equity multiple: 0.38×
• Total profit: $-44,439
• Equity at exit: $38,021

10-year hold

• IRR: -20.0%
• Equity multiple: 0.12×
• Total profit: $-63,107
• Equity at exit: $22,048

Cash invested: $71,400 (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 48322

• Rents YoY: -0.4%
• Active inventory: 181
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $2,801 high
• Mortgage (P&I): −$1,337
• Tax from tax record: −$327 /mo · $3,930/yr
• Insurance: −$106
• HOA: −$366
• Vacancy / Maint / Mgmt: −$588
• Net cashflow: $76

Break-even live

Break-even rent $2,705

Max offer price $255,000

Occupancy floor 92%

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: $63,750
• Closing costs: $7,650
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5202 Richard Run West Bloomfield, MI	3.0	2.5	1650	$2,500	$1.52	16d	1	0.11mi
5353 Wright Way W West Bloomfield, MI	4.0	2.5	1819	$2,700	$1.48	24d	1	0.26mi
5485 Hammersmith Dr West Bloomfield, MI	4.0	2.5	2402	$3,800	$1.58	1d	1	0.72mi
5590 Greenbriar Dr West Bloomfield, MI	4.0	3.5	3071	$3,200	$1.04	43d	1	0.90mi
6322 Aspen Ridge Blvd West Bloomfield, MI	2.0	2.5	2391	$3,500	$1.46	1d	1	0.92mi
6350 Aldingbrooke Circle Rd N West Bloomfield, MI	1.0–3.0	1.0–3.0	1900	$3,360	$1.77	1d	24	1.06mi
7020 Orchard Lake Rd West Bloomfield, MI	1.0–3.0	1.0–2.5	1298	$6,335	$4.88	1d	25	1.24mi

HOA detail condo

• Monthly dues: $366 · $4,392/yr
• Likely covers: watersewertrashgassnow removalexterior maint.
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 39 events

1. 2026-06-04
   status $255,000 Pending 41 DOM

   Show marketing remark (588 chars)

   Step inside this nice townhouse condo! Hardwood floors throughout the main level. Kitchen with Corian countertops and tiled backsplash. Open Living and Dining rooms with recessed lighting and gas fireplace. Family Room/Breakfast Room opens to deck. Nice powder room. Primary Suite with w-i-c and updated bath. Main bathroom with jetted tub and nice vanity. Ceiling fans in all bedrooms. Finished basement with ceramic tile. Lots of storage. Newer water heater and A/C unit. New garage floor. Low Association dues! Includes water, sewer, trash, lawn, snow removal and exterior maintenance.

2. 2026-06-03
   days on market $255,000 Active Under Contract 41 DOM
3. 2026-06-02
   days on market $255,000 Active Under Contract 40 DOM
4. 2026-06-01
   days on market $255,000 Active Under Contract 39 DOM
5. 2026-05-31
   days on market $255,000 Active Under Contract 38 DOM
6. 2026-04-23
   listed $255,000 Active 592-char remark

   Show marketing remark (588 chars)

   Step inside this nice townhouse condo! Hardwood floors throughout the main level. Kitchen with Corian countertops and tiled backsplash. Open Living and Dining rooms with recessed lighting and gas fireplace. Family Room/Breakfast Room opens to deck. Nice powder room. Primary Suite with w-i-c and updated bath. Main bathroom with jetted tub and nice vanity. Ceiling fans in all bedrooms. Finished basement with ceramic tile. Lots of storage. Newer water heater and A/C unit. New garage floor. Low Association dues! Includes water, sewer, trash, lawn, snow removal and exterior maintenance.

7. 2026-04-23
   listed $255,000 Active 588-char remark

   Show marketing remark (588 chars)

   Step inside this nice townhouse condo! Hardwood floors throughout the main level. Kitchen with Corian countertops and tiled backsplash. Open Living and Dining rooms with recessed lighting and gas fireplace. Family Room/Breakfast Room opens to deck. Nice powder room. Primary Suite with w-i-c and updated bath. Main bathroom with jetted tub and nice vanity. Ceiling fans in all bedrooms. Finished basement with ceramic tile. Lots of storage. Newer water heater and A/C unit. New garage floor. Low Association dues! Includes water, sewer, trash, lawn, snow removal and exterior maintenance.

8. 2026-01-26
   historical $2,275
9. 2026-01-21
   historical $2,300
10. 2026-01-20
    listed $2,300
11. 2026-01-03
    listed $2,300
12. 2026-01-01
    historical $2,300
13. 2025-11-18
    listed $2,300
14. 2025-11-16
    historical
15. 2025-11-16
    historical
16. 2025-11-05
    listed $255,000 Active
17. 2025-11-05
    listed $255,000 Active
18. 2025-11-01
    historical
19. 2025-11-01
    historical
20. 2025-08-21
    price $259,900
21. 2025-08-21
    price $259,900
22. 2025-07-14
    listed $268,500 Active
23. 2025-07-14
    listed $268,500 Active
24. 2020-12-14
    soldstatus $195,000
25. 2020-11-12
    soldstatus $195,000 Sold
26. 2020-11-12
    soldstatus $195,000 Closed
27. 2020-10-08
    status Pending
28. 2020-10-08
    status Pending
29. 2020-09-09
    price $199,900
30. 2020-09-08
    price $199,900
31. 2020-08-20
    listed $209,900 Active
32. 2020-08-20
    listed $209,900 Active
33. 2014-11-08
    soldstatus $1,700
34. 2014-10-16
    listed $1,700
35. 2009-10-07
    soldstatus $105,000
36. 2009-09-17
    soldstatus $105,000
37. 2009-07-22
    listed $129,000
38. 2009-07-22
    historical
39. 2009-06-16
    listed $145,000

ⓘ 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: $3,930 · $327/mo
• Projected year-2 tax: $3,930 · $327/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 ≥96°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: $33,609
• − Mortgage interest: −$14,284
• − Property taxes: −$3,930
• − Insurance: −$1,275
• − Repairs & maintenance: −$2,689
• − Management: −$2,689
• − HOA: −$4,392
• − Depreciation: −$7,418
• Taxable loss: −$3,067
• Est. tax savings @ 24.0%: +$736
• After-tax cash flow: $1,644/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: West Bloomfield School District
• NCES district ID: 2635820
• Math proficiency: 42% ▼ -6.00%
• Reading proficiency: 55% ▼ -2.00%
• Median HH income: $89,668
• Composite: 45.28/100
• National rank: #2653
• State rank: #83 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

• County: Oakland County · 1,009,092 people
• City population: 67,612
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 32,885
• Household income: $113,865
• Rent vs Own: 22.6% rent · 77.4% own
• Severe rent burden: 911.0

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: Majority White (64%)
• Race & ethnicity: White 64% Black 20% Asian 10% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Arab 9% Romanian 5% Scotch-Irish 4%
• Foreign-born: 25% · Canada, China
• Languages at home: 71% English-only · Arabic 8% Other Indo-European 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: ▼ -220.52%
• Current HPI: 149.0523
• Rent YoY: ▼ -0.43%
• 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

+74.2% since first listed

40 events — show timeline

• 2026-06-15 Sold (MLS) $252,650 REALCOMP
• 2026-06-15 Sold (MLS) $252,650 MiRealSource-MiMLS
• 2026-06-04 Pending — MiRealSource-MiMLS
• 2026-06-04 Pending — REALCOMP
• 2026-05-25 Contingent — MiRealSource-MiMLS
• 2026-05-25 Contingent — REALCOMP
• 2026-04-23 Listed $255,000 REALCOMP
• 2026-04-23 Listed $255,000 MiRealSource-MiMLS
• 2026-01-26 Rental Removed $2,275 REALSOURCE
• 2026-01-21 Rental Removed $2,300 REALCOMP
• 2026-01-20 Listed for Rent $2,300 REALCOMP
• 2026-01-03 Listed for Rent $2,300 REALSOURCE
• 2026-01-01 Rental Removed $2,300 REALSOURCE
• 2025-11-18 Listed for Rent $2,300 REALSOURCE
• 2025-11-16 Listing Removed — MiRealSource-MiMLS
• 2025-11-16 Listing Removed — REALCOMP
• 2025-11-05 Listed $255,000 REALCOMP
• 2025-11-05 Listed $255,000 MiRealSource-MiMLS
• 2025-11-01 Listing Removed — MiRealSource-MiMLS
• 2025-11-01 Listing Removed — REALCOMP
• 2025-08-21 Price Changed $259,900 MiRealSource-MiMLS
• 2025-08-21 Price Changed $259,900 REALCOMP
• 2025-07-14 Listed $268,500 REALCOMP
• 2025-07-14 Listed $268,500 MiRealSource-MiMLS
• 2020-12-14 Sold (Public Records) $195,000 Public Records
• 2020-11-12 Sold (MLS) $195,000 MiRealSource-MiMLS
• 2020-11-12 Sold (MLS) $195,000 REALCOMP
• 2020-10-08 Pending — MiRealSource-MiMLS
• 2020-10-08 Pending — REALCOMP
• 2020-09-09 Price Changed $199,900 MiRealSource-MiMLS
• 2020-09-08 Price Changed $199,900 REALCOMP
• 2020-08-20 Listed $209,900 MiRealSource-MiMLS
• 2020-08-20 Listed $209,900 REALCOMP
• 2014-11-08 Sold (MLS) $1,700 MiRealSource-MiMLS
• 2014-10-16 Listed $1,700 MiRealSource-MiMLS
• 2009-10-07 Sold (Public Records) $105,000 Public Records
• 2009-09-17 Sold (MLS) $105,000 REALCOMP
• 2009-07-22 Listing Removed — REALCOMP
• 2009-07-22 Listed $129,000 REALCOMP
• 2009-06-16 Listed $145,000 REALCOMP

Property tax history

+3.3%/yr

Latest (2025): $3,930 · +2.4% YoY. Source: county tax records.