32005 W 12 Mile Rd #204 · Farmington Hills, MI 48334

$110,000

1 bd · 1.0 ba · 887 sqft · Condo public records · 2 Days on market

Built 1978 $266/mo HOA · 21% of rent

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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 +17.8/30.0
• ARV discount +7.5/15.0
• 1% rule +6.8/10.0
• DSCR +5.6/10.0
• Schools +4.6/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful condominium for Sale in Farmington Hills area, Second floor unit, nicely maintained with 1 bedroom , 1 bath. This bright and inviting condo offers a comfortable living space with a well designed layout perfect for singles or couples. One Covered Parking Spot, Open Parking Available, Access to Swimming Pool and Other Community Amenities, Washer and Dryer service available in Building , joy a spacious living room with balcony , cozy dining area. And functional kitchen with stainless appliances and ceiling fan . It's located in a nice, quiet community close to major companies headquarters , shopping, dining, parks and major freeways . Agents must attend showings.

Key facts

• Second floor unit
• Balcony
• Covered parking spot

Tags

• SECOND FLOOR UNIT
• COVERED PARKING SPOT
• ACCESS TO SWIMMING POOL
• WASHER AND DRYER SERVICE
• SPACIOUS LIVING ROOM
• BALCONY

Property features AI

Finance

• Other: Directions: Enter Farmington Square complex off W 12 Mile Rd, just west of Orchard Lake Road; enter on east side of Building B; Subdivision: Farmington Square; Cross street: 12 Mile Rd & Orchard Lake Rd
• HOA & community: Homeowners association with a monthly fee of $266

Exterior

• Parking: Parking lot; Carport; No garage
• Utilities: Public water; Public sewer; Electric and gas service (natural gas heating)
• Home design: Condominium; One level; Mid-level entry with steps
• Construction: Brick construction; Slab foundation; Built as a condominium unit
• Exterior features: Paved road access; Pets allowed (contact for details)

Interior

• Kitchen: Stainless steel appliances
• Bedrooms: Total of 4 rooms (includes living spaces and bedrooms)
• Bathrooms: 1 full bathroom
• Interior features: Stainless steel appliances; Ceiling fan(s); Central air; Forced air heating (natural gas)

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $110k.

Deal economics

• At list price, monthly cash flow is $90 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Cap rate 7.3% vs local median 3.4% 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.
• 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.
• Zoned schools: Kenbrook Elementary School (math 52% / reading 47%, grade D, #382 of 1,397 statewide, top 30%, 392 students, 32% FRL); Warner Middle School (math 37% / reading 56%, grade D+, #150 of 493 statewide, top 31%, 571 students, 34% FRL); North Farmington High School (math 48% / reading 67%, grade C, #95 of 713 statewide, top 14%, 1,268 students, 30% FRL).
• Market conditions: 93 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 19d 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 15% of the median local income ($102k/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 $761 of loan paydown is wiped out by about $3k 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.
• 6 sale attempts since 2y ago; this cycle's ask is 8700% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $110,000

Questions for the listing agent

1. Built in 1978 — 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. 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?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.18% ✓
• Cap rate: 7.27%
• Cash-on-cash: 3.50%
• DSCR: 1.16
• GRM: 7.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -10.7%
• Equity multiple: 0.61×
• Total profit: $-11,985
• Equity at exit: $16,401

10-year hold

• IRR: -1.2%
• Equity multiple: 0.92×
• Total profit: $-2,569
• Equity at exit: $9,511

Cash invested: $30,800 (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 48334

• Active inventory: 93
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,295 high
• Mortgage (P&I): −$577
• Tax from tax record: −$44 /mo · $531/yr
• Insurance: −$46
• HOA: −$266
• Vacancy / Maint / Mgmt: −$272
• Net cashflow: $90

Break-even live

Break-even rent $1,181

Max offer price $110,000

Occupancy floor 88%

Sensitivity live

Price	-10% $152	-5% $121	+0% $90	+5% $59	+10% $27
Rent	-10% $-13	-5% $39	+0% $90	+5% $141	+10% $192
Rate	-1.0pp $145	-0.5pp $118	base $90	+0.5pp $61	+1.0pp $32

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
32005 W 12 Mile Rd #203 Farmington, MI	1.0	1.0	876	$1,250	$1.43	46d	1	0.01mi
31993 W 12 Mile Rd Farmington Hills, MI	1.0	1.0	901	$1,100	$1.22	5d	1	0.07mi
32005 W 12 Mile Rd Farmington Hills, MI	1.0	1.0	731	$1,224	$1.68	14d	2	0.15mi
30250 W 12 Mile Rd Unit B102 Farmington Hills, MI	1.0	1.0	842	$1,120	$1.33	26d	1	0.76mi
27600 Cordoba Dr Farmington Hills, MI	1.0–2.0	1.0	764	$1,338	$1.75	1d	18	0.76mi
27991 Rollcrest Rd #1 Farmington Hills, MI	2.0	1.0	922	$1,600	$1.74	45d	1	0.91mi
27517 Gateway Dr E Farmington Hills, MI	1.0–2.0	1.0–2.0	987	$1,439	$1.46	19d	80	1.12mi

HOA detail condo

• Monthly dues: $266 · $3,192/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 22 events

1. 2026-06-21
   pricedays on marketlisting id $110,000 Active 2 DOM
2. 2026-06-04
   days on market $112,900 Active 29 DOM
3. 2026-06-02
   days on market $112,900 Active 27 DOM
4. 2026-06-01
   days on market $112,900 Active 26 DOM
5. 2026-05-31
   days on market $112,900 Active 25 DOM
6. 2026-05-08
   listed $1,250
7. 2026-05-06
   listed $112,900 Active

   Show marketing remark (678 chars)

   Beautiful condominium for Sale in Farmington Hills area, Second floor unit, nicely maintained with 1 bedroom , 1 bath. This bright and inviting condo offers a comfortable living space with a well designed layout perfect for singles or couples. One Covered Parking Spot, Open Parking Available, Access to Swimming Pool and Other Community Amenities, Washer and Dryer service available in Building , joy a spacious living room with balcony , cozy dining area. And functional kitchen with stainless appliances and ceiling fan . It's located in a nice, quiet community close to major companies headquarters , shopping, dining, parks and major freeways . Agents must attend showings.

8. 2026-05-06
   listed $112,900 Active 678-char remark

   Show marketing remark (678 chars)

   Beautiful condominium for Sale in Farmington Hills area, Second floor unit, nicely maintained with 1 bedroom , 1 bath. This bright and inviting condo offers a comfortable living space with a well designed layout perfect for singles or couples. One Covered Parking Spot, Open Parking Available, Access to Swimming Pool and Other Community Amenities, Washer and Dryer service available in Building , joy a spacious living room with balcony , cozy dining area. And functional kitchen with stainless appliances and ceiling fan . It's located in a nice, quiet community close to major companies headquarters , shopping, dining, parks and major freeways . Agents must attend showings.

9. 2025-07-09
   historical $1,200
10. 2025-04-10
    price $1,200
11. 2025-03-27
    listed $1,300
12. 2025-03-17
    soldstatus $102,000
13. 2025-03-10
    soldstatus $102,000 Closed 551-char remark

    Show marketing remark (551 chars)

    Welcome home to this Great location in Farmington Hills! This 1-bedroom/1-bath Condo has neutral colors throughout. The large living room opens up to a balcony with a view of pool and grounds. Condo features a kitchen, dining room, full bath, storage room/utility closet, and a carport. Close proximity to I-696, shopping, restaurants, Farmington Hills Community Center, library, and Oakland Community College. Shared laundry facilities are on every floor of the Building and Intercom System. Community Pool and plenty of additional parking available.

14. 2025-03-10
    soldstatus $102,000 Closed

    Show marketing remark (551 chars)

    Welcome home to this Great location in Farmington Hills! This 1-bedroom/1-bath Condo has neutral colors throughout. The large living room opens up to a balcony with a view of pool and grounds. Condo features a kitchen, dining room, full bath, storage room/utility closet, and a carport. Close proximity to I-696, shopping, restaurants, Farmington Hills Community Center, library, and Oakland Community College. Shared laundry facilities are on every floor of the Building and Intercom System. Community Pool and plenty of additional parking available.

15. 2025-02-12
    status Pending 551-char remark

    Show marketing remark (551 chars)

    Welcome home to this Great location in Farmington Hills! This 1-bedroom/1-bath Condo has neutral colors throughout. The large living room opens up to a balcony with a view of pool and grounds. Condo features a kitchen, dining room, full bath, storage room/utility closet, and a carport. Close proximity to I-696, shopping, restaurants, Farmington Hills Community Center, library, and Oakland Community College. Shared laundry facilities are on every floor of the Building and Intercom System. Community Pool and plenty of additional parking available.

16. 2025-02-12
    status Pending

    Show marketing remark (551 chars)

    Welcome home to this Great location in Farmington Hills! This 1-bedroom/1-bath Condo has neutral colors throughout. The large living room opens up to a balcony with a view of pool and grounds. Condo features a kitchen, dining room, full bath, storage room/utility closet, and a carport. Close proximity to I-696, shopping, restaurants, Farmington Hills Community Center, library, and Oakland Community College. Shared laundry facilities are on every floor of the Building and Intercom System. Community Pool and plenty of additional parking available.

17. 2025-02-12
    historical Active Under Contract

    Show marketing remark (551 chars)

    Welcome home to this Great location in Farmington Hills! This 1-bedroom/1-bath Condo has neutral colors throughout. The large living room opens up to a balcony with a view of pool and grounds. Condo features a kitchen, dining room, full bath, storage room/utility closet, and a carport. Close proximity to I-696, shopping, restaurants, Farmington Hills Community Center, library, and Oakland Community College. Shared laundry facilities are on every floor of the Building and Intercom System. Community Pool and plenty of additional parking available.

18. 2024-12-09
    listed $115,000 Active 551-char remark

    Show marketing remark (551 chars)

    Welcome home to this Great location in Farmington Hills! This 1-bedroom/1-bath Condo has neutral colors throughout. The large living room opens up to a balcony with a view of pool and grounds. Condo features a kitchen, dining room, full bath, storage room/utility closet, and a carport. Close proximity to I-696, shopping, restaurants, Farmington Hills Community Center, library, and Oakland Community College. Shared laundry facilities are on every floor of the Building and Intercom System. Community Pool and plenty of additional parking available.

19. 2024-12-09
    listed $115,000 Active

    Show marketing remark (551 chars)

    Welcome home to this Great location in Farmington Hills! This 1-bedroom/1-bath Condo has neutral colors throughout. The large living room opens up to a balcony with a view of pool and grounds. Condo features a kitchen, dining room, full bath, storage room/utility closet, and a carport. Close proximity to I-696, shopping, restaurants, Farmington Hills Community Center, library, and Oakland Community College. Shared laundry facilities are on every floor of the Building and Intercom System. Community Pool and plenty of additional parking available.

20. 2007-05-04
    soldstatus $61,200
21. 1990-10-04
    soldstatus $40,000
22. 1987-06-01
    soldstatus $44,750

ⓘ 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: $531 · $44/mo
• Projected year-2 tax: $1,113 · $93/mo
• Expected delta: +$581/yr (+$48/mo · 109.4%)

ⓘ 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 ≥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: $15,534
• − Mortgage interest: −$6,162
• − Property taxes: −$531
• − Insurance: −$550
• − Repairs & maintenance: −$1,243
• − Management: −$1,243
• − HOA: −$3,192
• − Depreciation: −$3,200
• Taxable loss: −$586
• Est. tax savings @ 24.0%: +$141
• After-tax cash flow: $1,217/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): 19,618
• Household income: $102,228
• Rent vs Own: 37.1% rent · 62.9% own
• Severe rent burden: 630.0

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: Diverse neighborhood (Simpson 0.64)
• Race & ethnicity: White 54% Black 25% Asian 12% Two or more races 8% Hispanic / Latino 2%
• Common ancestry: Romanian 7% Lithuanian 3% Scotch-Irish 3%
• Foreign-born: 17% · Canada, China, South Korea
• Languages at home: 82% English-only · Other Indo-European 7% Arabic 3% 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: ▼ -189.65%
• Current HPI: 166.7194
• 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

-97.2% since first listed

17 events — show timeline

• 2026-05-08 Listed for Rent $1,250 REALCOMP
• 2026-05-06 Listed $112,900 REALCOMP
• 2026-05-06 Listed $112,900 MiRealSource-MiMLS
• 2025-07-09 Rental Removed $1,200 REALSOURCE
• 2025-04-10 Price Changed $1,200 REALSOURCE
• 2025-03-27 Listed for Rent $1,300 REALSOURCE
• 2025-03-17 Sold (Public Records) $102,000 Public Records
• 2025-03-10 Sold (MLS) $102,000 REALCOMP
• 2025-03-10 Sold (MLS) $102,000 MiRealSource-MiMLS
• 2025-02-12 Pending — MiRealSource-MiMLS
• 2025-02-12 Pending — REALCOMP
• 2025-02-12 Contingent — REALCOMP
• 2024-12-09 Listed $115,000 REALCOMP
• 2024-12-09 Listed $115,000 MiRealSource-MiMLS
• 2007-05-04 Sold (Public Records) $61,200 Public Records
• 1990-10-04 Sold (Public Records) $40,000 Public Records
• 1987-06-01 Sold (Public Records) $44,750 Public Records

Property tax history

+0.8%/yr

Latest (2025): $531 · +2.8% YoY. Source: county tax records.