925 Laprairie St #117 · Ferndale, MI 48220

$125,000

1 bd · 1.0 ba · 775 sqft · Condo public records · 77 Days on market

Built 1966 $161/sqft · 59% below area $171/mo HOA · 11% 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 +22.7/30.0
• ARV discount +7.5/15.0
• 1% rule +7.4/10.0
• DSCR +7.3/10.0
• Livability +4.5/5.0
• Rent growth +4.1/5.0
• Schools +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A condo in Ferndale for under 130k!?! Within walking distance to the downtown area?!? Yes, that is correct! This one-bedroom condo features an open floor plan that combines the living room and dining area providing the free-flowing feel of a larger space. Hardwood floors throughout, an updated kitchen with granite countertops and the ability to hookup an in-unit washer/dryer. Secure assigned basement storage and coin operated laundry is also available making this first-floor unit great for those wanting an affordable option to call home or their next investment property. Check with your lender regarding lending options. Welcome to Ferndale! Seller says bring us an offer! We will consider all reasonable offers!

Key facts

• $171 HOA
• Built 1966
• Listed 77 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $125k.

Deal economics

• At list price, monthly cash flow is $214 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $118k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 4.5% in Ferndale — 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 90/100 on livability (#8 in MI, #103 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, employment A+; Watch: schools D+.
• Ferndale Public Schools (suburban): math 18% / reading 39% proficiency, ranked #366 of 540 in MI (top 68%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising fast (+6.2%/yr); 171 active listings in the ZIP; 38 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k 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 + 6.2% rent growth), your $35k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 77 days — a 6% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 15y 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 $14k; list at $125k implies a 826% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $117,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — 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 D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
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: 1.24% ✓
• Cap rate: 8.35%
• Cash-on-cash: 7.35%
• DSCR: 1.33
• GRM: 6.7

CMA / ARV

• ARV (median comp): $302,059
• List price: $125,000
• Delta: -58.62%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.24% rent growth · sell at horizon

5-year hold

• IRR: -0.9%
• Equity multiple: 0.96×
• Total profit: $-1,263
• Equity at exit: $18,638

10-year hold

• IRR: 12.3%
• Equity multiple: 2.14×
• Total profit: $39,839
• Equity at exit: $10,808

Cash invested: $35,000 (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 48220

• Rents YoY: 6.2%
• Active inventory: 171
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,550 high
• Mortgage (P&I): −$656
• Tax from tax record: −$132 /mo · $1,581/yr
• Insurance: −$52
• HOA: −$171
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $214

Break-even live

Break-even rent $1,279

Max offer price $125,000

Occupancy floor 81%

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: $31,250
• Closing costs: $3,750
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
900 Laprairie St Ferndale, MI	1.0	1.0	700	$1,015	$1.45	43d	1	0.08mi
901 Saint Louis St Ferndale, MI	2.0	1.0	800	$1,395	$1.74	43d	1	0.14mi
901 Saint Louis St Unit 901-02 Ferndale, MI	2.0	1.0	800	$1,395	$1.74	24d	1	0.14mi
851 Gardendale St Ferndale, MI	2.0	1.0	933	$1,625	$1.74	24d	1	0.15mi
22111 Woodward Ave Ferndale, MI	2.0	1.0	816	$2,556	$3.13	16d	1	0.26mi
695 Livernois St Unit 2 Ferndale, MI	2.0	1.0	950	$2,350	$2.47	4d	1	0.34mi
695 Livernois St Unit 3 Ferndale, MI	1.0	1.0	830	$2,150	$2.59	12d	1	0.34mi
413 W Nine Mile Rd Ste B Ferndale, MI	1.0	1.0	897	$1,850	$2.06	18d	1	0.45mi
415 W Nine Mile Rd Ferndale, MI	1.0	1.0	912	$2,500	$2.74	18d	1	0.46mi
510 Stratford Rd Ferndale, MI	2.0	1.0	965	$1,750	$1.81	43d	1	0.46mi
578 Kensington Ave Ferndale, MI	2.0	1.0	860	$1,600	$1.86	5d	1	0.47mi
353 W Webster St Ferndale, MI	2.0	1.0	900	$1,525	$1.69	16d	1	0.48mi
430 W 9 Mile Rd Ferndale, MI	1.0–2.0	1.0–2.0	754	$1,832	$2.43	1d	3	0.48mi
224 Fielding St Ferndale, MI	2.0	1.0	1000	$1,800	$1.80	24d	1	0.51mi
226 Fielding St Ferndale, MI	2.0	1.0	1000	$1,500	$1.50	24d	1	0.51mi
226 Withington St Apt 10 Ferndale, MI	1.0	1.0	800	$1,325	$1.66	18d	1	0.54mi
20643 Stratford Rd Unit 1 Detroit, MI	2.0	1.5	1000	$1,250	$1.25	43d	1	0.57mi
552 E Saratoga St Unit Upper Unit Ferndale, MI	2.0	1.0	700	$1,300	$1.86	24d	1	0.63mi
425 Vester St Unit A Ferndale, MI	2.0	1.0	525	$1,349	$2.57	5d	1	0.71mi
400 E Cambourne St Unit 1 Ferndale, MI	2.0	1.0	1000	$1,400	$1.40	11d	1	0.71mi
453 E Cambourne St Unit 1 Ferndale, MI	2.0	1.0	1000	$2,500	$2.50	3d	1	0.77mi
455 E Cambourne St Unit 2 Ferndale, MI	2.0	1.0	900	$2,400	$2.67	3d	1	0.77mi
690 E Marshall St Unit Lower Ferndale, MI	1.0	1.0	700	$1,295	$1.85	11d	1	0.79mi
150 E Woodland St Unit 1 Ferndale, MI	1.0	1.0	700	$1,600	$2.29	43d	1	0.82mi
150 E Woodland St Unit 2 Ferndale, MI	1.0	1.0	700	$1,500	$2.14	43d	1	0.82mi
1260 W Nine Mile Rd Unit 13 Ferndale, MI	2.0	1.0	1000	$1,399	$1.40	15d	1	0.83mi
20129 Stratford Rd Unit 2 Detroit, MI	2.0	1.0	1100	$1,223	$1.11	24d	1	0.83mi
790 Jewell St Ferndale, MI	2.0	1.0	800	$1,445	$1.81	24d	1	0.96mi
1491 W Nine Mile Rd Unit 9 Ferndale, MI	2.0	1.0	900	$1,350	$1.50	43d	1	0.97mi
8775 W Nine Mile Rd Oak Park, MI	1.0	1.0	552	$1,295	$2.35	12d	2	1.31mi
1561 E Webster St Ferndale, MI	2.0	1.0	939	$1,600	$1.70	24d	1	1.37mi
10000 W Nine Mile Rd Unit 3 Oak Park, MI	2.0	1.0	900	$1,000	$1.11	43d	1	1.37mi
1291 W State Fair Ave Detroit, MI	1.0–2.0	1.0	700	$850	$1.21	12d	2	1.39mi
10020 Corning St Oak Park, MI	2.0	1.0	829	$1,400	$1.69	24d	1	1.39mi
2023 Ardmore Dr Ferndale, MI	2.0	1.0	771	$1,250	$1.62	24d	1	1.39mi
10050 W Nine Mile Rd Unit 18 Oak Park, MI	2.0	1.0	900	$1,000	$1.11	5d	1	1.40mi
20185 Indiana St Detroit, MI	2.0	1.5	1096	$1,275	$1.16	43d	1	1.40mi
1800 Browning St Ferndale, MI	2.0	1.0	809	$1,600	$1.98	5d	1	1.44mi

HOA detail condo

• Monthly dues: $171 · $2,052/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 26 events

1. 2026-06-18
   days on market $125,000 Active 77 DOM
2. 2026-06-17
   days on market $125,000 Active 76 DOM
3. 2026-06-16
   days on market $125,000 Active 75 DOM
4. 2026-06-15
   pricestatus $125,000 Active 74 DOM
5. 2026-06-15
   days on market $129,500 Active Under Contract 74 DOM
6. 2026-06-13
   days on market $129,500 Active Under Contract 72 DOM
7. 2026-06-13
   statusdays on market $129,500 Active Under Contract 71 DOM
8. 2026-06-09
   days on market $129,500 Active 68 DOM
9. 2026-06-08
   days on market $129,500 Active 67 DOM
10. 2026-06-07
    days on market $129,500 Active 66 DOM
11. 2026-06-04
    days on market $129,500 Active 63 DOM
12. 2026-06-03
    days on market $129,500 Active 62 DOM
13. 2026-06-02
    days on market $129,500 Active 61 DOM
14. 2026-06-01
    days on market $129,500 Active 60 DOM
15. 2026-05-31
    days on market $129,500 Active 59 DOM
16. 2026-05-19
    price $129,500 719-char remark

    Show marketing remark (724 chars)

    A condo in Ferndale for under 130k!?! Within walking distance to the downtown area?!? Yes, that is correct! This one-bedroom condo features an open floor plan that combines the living room and dining area providing the free-flowing feel of a larger space. Hardwood floors throughout, an updated kitchen with granite countertops and the ability to hookup an in-unit washer/dryer. Secure assigned basement storage and coin operated laundry is also available making this first-floor unit great for those wanting an affordable option to call home or their next investment property. Check with your lender regarding lending options. Welcome to Ferndale! Seller says bring us an offer! We will consider all reasonable offers!

17. 2026-05-19
    price $129,500 724-char remark

    Show marketing remark (724 chars)

    A condo in Ferndale for under 130k!?! Within walking distance to the downtown area?!? Yes, that is correct! This one-bedroom condo features an open floor plan that combines the living room and dining area providing the free-flowing feel of a larger space. Hardwood floors throughout, an updated kitchen with granite countertops and the ability to hookup an in-unit washer/dryer. Secure assigned basement storage and coin operated laundry is also available making this first-floor unit great for those wanting an affordable option to call home or their next investment property. Check with your lender regarding lending options. Welcome to Ferndale! Seller says bring us an offer! We will consider all reasonable offers!

18. 2026-04-25
    price $129,800 719-char remark

    Show marketing remark (719 chars)

    A condo in Ferndale for under 130k!?! Within walking distance to the downtown area?!? Yes, that is correct! This one-bedroom condo features an open floor plan that combines the living room and dining area providing the free-flowing feel of a larger space. Hardwood floors throughout, an updated kitchen with granite countertops and the ability to hookup an in-unit washer/dryer. Secure assigned basement storage and coin operated laundry is also available making this first-floor unit great for those wanting an affordable option to call home or their next investment property. Check with your lender regarding lending options. Welcome to Ferndale! Seller says bring us an offer! We will consider all reasonable offers!

19. 2026-04-24
    price $129,800 724-char remark

    Show marketing remark (724 chars)

    A condo in Ferndale for under 130k!?! Within walking distance to the downtown area?!? Yes, that is correct! This one-bedroom condo features an open floor plan that combines the living room and dining area providing the free-flowing feel of a larger space. Hardwood floors throughout, an updated kitchen with granite countertops and the ability to hookup an in-unit washer/dryer. Secure assigned basement storage and coin operated laundry is also available making this first-floor unit great for those wanting an affordable option to call home or their next investment property. Check with your lender regarding lending options. Welcome to Ferndale! Seller says bring us an offer! We will consider all reasonable offers!

20. 2026-04-03
    listed $129,900 Active 719-char remark

    Show marketing remark (724 chars)

    A condo in Ferndale for under 130k!?! Within walking distance to the downtown area?!? Yes, that is correct! This one-bedroom condo features an open floor plan that combines the living room and dining area providing the free-flowing feel of a larger space. Hardwood floors throughout, an updated kitchen with granite countertops and the ability to hookup an in-unit washer/dryer. Secure assigned basement storage and coin operated laundry is also available making this first-floor unit great for those wanting an affordable option to call home or their next investment property. Check with your lender regarding lending options. Welcome to Ferndale! Seller says bring us an offer! We will consider all reasonable offers!

21. 2026-04-03
    listed $129,900 Active 724-char remark

    Show marketing remark (724 chars)

    A condo in Ferndale for under 130k!?! Within walking distance to the downtown area?!? Yes, that is correct! This one-bedroom condo features an open floor plan that combines the living room and dining area providing the free-flowing feel of a larger space. Hardwood floors throughout, an updated kitchen with granite countertops and the ability to hookup an in-unit washer/dryer. Secure assigned basement storage and coin operated laundry is also available making this first-floor unit great for those wanting an affordable option to call home or their next investment property. Check with your lender regarding lending options. Welcome to Ferndale! Seller says bring us an offer! We will consider all reasonable offers!

22. 2026-04-02
    historical $129,900 719-char remark

    Show marketing remark (719 chars)

    A condo in Ferndale for under 130k!?! Within walking distance to the downtown area?!? Yes, that is correct! This one-bedroom condo features an open floor plan that combines the living room and dining area providing the free-flowing feel of a larger space. Hardwood floors throughout, an updated kitchen with granite countertops and the ability to hookup an in-unit washer/dryer. Secure assigned basement storage and coin operated laundry is also available making this first-floor unit great for those wanting an affordable option to call home or their next investment property. Check with your lender regarding lending options. Welcome to Ferndale! Seller says bring us an offer! We will consider all reasonable offers!

23. 2026-02-26
    historical $1,375
24. 2026-01-27
    listed $1,375
25. 2012-01-06
    soldstatus $13,500
26. 2011-10-12
    listed $19,900

ⓘ 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: $1,581 · $132/mo
• Projected year-2 tax: $1,753 · $146/mo
• Expected delta: +$172/yr (+$14/mo · 10.9%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 69% 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 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,605
• − Mortgage interest: −$7,002
• − Property taxes: −$1,581
• − Insurance: −$625
• − Repairs & maintenance: −$1,488
• − Management: −$1,488
• − HOA: −$2,052
• − Depreciation: −$3,636
• Taxable income: $732
• Est. tax owed @ 24.0%: −$176
• After-tax cash flow: $2,398/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: Ferndale Public Schools
• NCES district ID: 2614280
• Math proficiency: 18% ▼ -3.00%
• Reading proficiency: 39% ▲ 5.00%
• Median HH income: $56,069
• Composite: 25.46/100
• National rank: #7449
• State rank: #366 of 540 in MI

Livability — Ferndale

• Score: 90/100
• State rank: #8
• US rank: #103

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Ferndale, MI
• County: Oakland County · 1,009,092 people
• City population: 21,527
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 21,527
• Household income: $89,881
• Rent vs Own: 36.3% rent · 63.7% own
• Severe rent burden: 670.0

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 (72%)
• Race & ethnicity: White 72% Black 15% Two or more races 6% Hispanic / Latino 5% Asian 3%
• Common ancestry: Romanian 11% Lithuanian 6% Slovak 3%
• Foreign-born: 4% · Canada, South Korea
• Languages at home: 95% English-only · Spanish 2% Other Indo-European 1% German/W. Germanic 1%

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: ▼ -394.92%
• Current HPI: 273.0986
• Rent YoY: ▲ 6.24%
• 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

+550.8% since first listed

11 events — show timeline

• 2026-05-19 Price Changed $129,500 MiRealSource-MiMLS
• 2026-05-19 Price Changed $129,500 REALCOMP
• 2026-04-25 Price Changed $129,800 MiRealSource-MiMLS
• 2026-04-24 Price Changed $129,800 REALCOMP
• 2026-04-03 Listed $129,900 MiRealSource-MiMLS
• 2026-04-03 Listed $129,900 REALCOMP
• 2026-04-02 Coming Soon $129,900 MiRealSource-MiMLS
• 2026-02-26 Rental Removed $1,375 Avail
• 2026-01-27 Listed for Rent $1,375 Avail
• 2012-01-06 Sold (MLS) $13,500 REALCOMP
• 2011-10-12 Listed $19,900 REALCOMP

Property tax history

+1.7%/yr

Latest (2025): $1,581 · -1.6% YoY. Source: county tax records.