2738 Berry Dr · Bloomfield Hills, MI 48304

$399,900

3 bd · 2.5 ba · 2,010 sqft · SingleFamily public records · 38 Days on market

Built 1961 0.33 ac lot Est $406k · at est.

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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 +12.4/30.0
• ARV discount +8.2/15.0
• Schools +6.5/10.0
• DSCR +3.7/10.0
• 1% rule +3.6/10.0
• Livability +3.6/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

A 4-bedroom, 2.5-bath bi-level home in a desirable Bloomfield Hills Oakland County neighborhood close to shopping, dining, and major commuter routes. A newer concrete circular driveway and main drive provide excellent parking and curb appeal. Inside, enjoy a bright freshly painted interior, spacious layout, and a cozy natural wood-burning fireplace. The primary suite features a fully renovated en-suite bath. The lower level offers flexible living space ideal for a family room, office, or media area with an electric fireplace feature. Outside, the backyard is built for entertaining with an in-ground pool, diving board, slide, concrete patio, upper balcony views, and walkout-style yard access. Updates include furnace and airconditioned, gutters with guards, roof, windows, finished insulated garage, and included appliances.

Key facts

• Slide
• Diving board
• In ground pool

Tags

• CIRCULAR DRIVEWAY
• NATURAL WOOD BURNING FIREPLACE
• FULLY RENOVATED EN SUITE BATH
• IN GROUND POOL
• DIVING BOARD
• SLIDE

Property features AI

Exterior

• Parking: Attached garage with 2 spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Mid-level entry
• Construction: Brick and wood siding construction; Asphalt roof; Slab foundation; Built as residential single-family
• Exterior features: Patio; Paved road access

Interior

• Kitchen: Dishwasher; Disposal; Free-standing electric range; Free-standing refrigerator; Microwave; Stainless steel appliances
• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Forced air heating; Natural gas heating; No central cooling
• Interior features: Gas fireplace; Mid-level entry with steps; Five total rooms
• Laundry & utility: Washer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $400k.

Deal economics

• At list price, monthly cash flow is $-69 ($-823/yr) — negative.
• To cash-flow at today's rent, offer at most $388k (3.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $344k (14.1% below list).
• Recommended offer: $344k (14.1% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 0.8% in Bloomfield 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 72/100 on livability (#263 in MI) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A-; Watch: commute D+, amenities F, cost of living F.
• Bloomfield Hills Schools (suburban): math 65% / reading 74% proficiency, ranked #5 of 540 in MI (top 1%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 7% free/reduced lunch — higher-income household profile.
• Zoned schools: Eastover Elementary School (math 82% / reading 77%, grade A, #21 of 1,397 statewide, top 2%, 456 students, 16% FRL); East Hills Middle School (math 62% / reading 70%, grade A-, #35 of 493 statewide, top 7%, 571 students, 16% FRL); Bloomfield Hills High School (math 59% / reading 82%, grade B+, #32 of 713 statewide, top 4%, 1,598 students, 14% FRL).
• Market conditions: 132 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 7d 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 $3k of loan paydown is wiped out by about $12k 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 38 days — a 3% lower offer ($388k) is reasonable based on typical stale-listing flexibility.
• 22 sale attempts since 25y 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 $232k; list at $400k implies a 72% gain — meaningful room to come down on a strong offer.

Recommended offer $343,663 (14.1% 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 38 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
3. Built in 1961 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are A-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. 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?
7. 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.
8. 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.
9. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.86% ✗
• Cap rate: 6.09%
• Cash-on-cash: -0.73%
• DSCR: 0.97
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $406,020
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2864 Colonial Trl	0.23mi	3/1.5	1,881 (-6%)	2mo	$411,000	$219	73
2727 Brady Dr	0.19mi	3/2.5	1,868 (-7%)	16mo	$403,000	$216	66
237 Marlborough Dr	0.50mi	3/2.0	1,859 (-8%)	0mo	$375,000	$202	62
2769 Colonial Way	0.28mi	4/2.0 (+1)	1,919 (-4%)	17mo	$350,000	$182	58
2615 Douglas Dr	0.34mi	4/2.0 (+1)	2,119 (+5%)	14mo	$450,000	$212	57
60 E Square Lake Rd	0.27mi	3/2.5	1,853 (-8%)	22mo	$356,000	$192	56
2155 Devonshire Rd	0.64mi	3/2.0	2,128 (+6%)	4mo	$355,000	$167	55
181 Timber Trace Ln	0.48mi	3/2.0	1,905 (-5%)	20mo	$270,000	$142	50
2381 Bratton Ave	0.66mi	3/2.0	2,221 (+10%)	2mo	$385,000	$173	48
2462 Bratton Ave	0.66mi	3/2.0	1,920 (-4%)	19mo	$375,000	$195	44
1997 Devonshire Rd	0.71mi	4/2.5 (+1)	1,923 (-4%)	17mo	$417,000	$217	40
2163 Somerset Rd	0.63mi	3/2.0	1,729 (-14%)	17mo	$405,000	$234	31

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -17.5%
• Equity multiple: 0.38×
• Total profit: $-69,104
• Equity at exit: $59,626

10-year hold

• IRR: -9.5%
• Equity multiple: 0.41×
• Total profit: $-65,538
• Equity at exit: $34,576

Cash invested: $111,972 (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 48304

• Active inventory: 132
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $3,437 medium
• Mortgage (P&I): −$2,097
• Tax from tax record: −$520 /mo · $6,237/yr
• Insurance: −$167
• HOA: −$0
• Vacancy / Maint / Mgmt: −$722
• Net cashflow: $-69

Break-even live

Break-even rent $3,523

Max offer price $387,786

Occupancy floor 97%

Sensitivity live

Price	-10% $158	-5% $45	+0% $-69	+5% $-182	+10% $-295
Rent	-10% $-340	-5% $-204	+0% $-69	+5% $67	+10% $203
Rate	-1.0pp $133	-0.5pp $33	base $-69	+0.5pp $-172	+1.0pp $-278

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: $99,975
• Closing costs: $11,997
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
42160 Woodward Ave Bloomfield Hills, MI	2.0	2.0	1689	$3,500	$2.07	0d	1	0.08mi
124 Alice Ave Bloomfield Township, MI	3.0	1.0	1440	$2,000	$1.39	7d	1	1.10mi
3975 Brookside Dr Bloomfield Hills, MI	4.0	2.5	2094	$3,250	$1.55	26d	1	1.50mi

Listing history 50 events

1. 2026-06-21
   days on market $399,900 Active 38 DOM
2. 2026-06-18
   days on market $399,900 Active 35 DOM
3. 2026-06-17
   days on market $399,900 Active 34 DOM
4. 2026-06-16
   days on market $399,900 Active 33 DOM
5. 2026-06-15
   days on market $399,900 Active 32 DOM
6. 2026-06-13
   days on market $399,900 Active 30 DOM
7. 2026-06-13
   days on market $399,900 Active 29 DOM
8. 2026-06-09
   days on market $399,900 Active 26 DOM
9. 2026-06-08
   days on market $399,900 Active 25 DOM
10. 2026-06-07
    days on market $399,900 Active 24 DOM
11. 2026-06-04
    days on market $399,900 Active 21 DOM
12. 2026-06-03
    days on market $399,900 Active 20 DOM
13. 2026-06-02
    days on market $399,900 Active 19 DOM
14. 2026-06-01
    days on market $399,900 Active 18 DOM
15. 2026-05-31
    days on market $399,900 Active 17 DOM
16. 2026-05-14
    listed $399,900 Active 832-char remark

    Show marketing remark (832 chars)

    A 4-bedroom, 2.5-bath bi-level home in a desirable Bloomfield Hills Oakland County neighborhood close to shopping, dining, and major commuter routes. A newer concrete circular driveway and main drive provide excellent parking and curb appeal. Inside, enjoy a bright freshly painted interior, spacious layout, and a cozy natural wood-burning fireplace. The primary suite features a fully renovated en-suite bath. The lower level offers flexible living space ideal for a family room, office, or media area with an electric fireplace feature. Outside, the backyard is built for entertaining with an in-ground pool, diving board, slide, concrete patio, upper balcony views, and walkout-style yard access. Updates include furnace and airconditioned, gutters with guards, roof, windows, finished insulated garage, and included appliances.

17. 2026-05-14
    listed $399,900 Active

    Show marketing remark (832 chars)

    A 4-bedroom, 2.5-bath bi-level home in a desirable Bloomfield Hills Oakland County neighborhood close to shopping, dining, and major commuter routes. A newer concrete circular driveway and main drive provide excellent parking and curb appeal. Inside, enjoy a bright freshly painted interior, spacious layout, and a cozy natural wood-burning fireplace. The primary suite features a fully renovated en-suite bath. The lower level offers flexible living space ideal for a family room, office, or media area with an electric fireplace feature. Outside, the backyard is built for entertaining with an in-ground pool, diving board, slide, concrete patio, upper balcony views, and walkout-style yard access. Updates include furnace and airconditioned, gutters with guards, roof, windows, finished insulated garage, and included appliances.

18. 2026-04-25
    historical
19. 2026-03-31
    price $425,000
20. 2026-03-31
    price $425,000
21. 2026-02-28
    price $450,000
22. 2026-02-27
    price $450,000
23. 2026-02-13
    price $475,000
24. 2026-02-12
    price $475,000
25. 2026-01-10
    listed $490,000 Active
26. 2026-01-10
    listed $490,000 Active
27. 2026-01-08
    historical
28. 2025-08-16
    historical
29. 2025-08-16
    historical
30. 2025-07-30
    price $499,600
31. 2025-07-30
    price $499,600
32. 2025-06-25
    listed $499,700 Active
33. 2025-06-23
    listed $499,700 Active
34. 2022-11-08
    historical
35. 2022-11-07
    historical
36. 2022-10-18
    listed $319,000 Active
37. 2022-10-18
    listed $319,000 Active
38. 2022-09-07
    historical
39. 2022-09-07
    historical
40. 2022-07-23
    price $349,000
41. 2022-07-23
    price $349,000
42. 2022-07-12
    listed $359,000 Active
43. 2022-07-12
    listed $359,000 Active
44. 2019-06-29
    historical
45. 2019-06-29
    historical
46. 2018-07-20
    price $299,900
47. 2018-07-20
    price $299,900
48. 2018-06-19
    listed $315,000 Active
49. 2018-06-19
    listed $315,000 Active
50. 2017-05-16
    soldstatus $232,000

ⓘ 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: $6,237 · $520/mo
• Projected year-2 tax: $6,237 · $520/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 2/10 Low 7 d/yr ≥98°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: $41,240
• − Mortgage interest: −$22,401
• − Property taxes: −$6,237
• − Insurance: −$2,000
• − Repairs & maintenance: −$3,299
• − Management: −$3,299
• − Depreciation: −$11,633
• Taxable loss: −$7,630
• Est. tax savings @ 24.0%: +$1,831
• After-tax cash flow: $1,008/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: Bloomfield Hills Schools
• NCES district ID: 2606090
• Math proficiency: 65% ▼ -2.00%
• Reading proficiency: 74% ▲ 2.00%
• Median HH income: $117,848
• Composite: 65.41/100
• National rank: #481
• State rank: #5 of 540 in MI

Livability — Bloomfield Hills

• Score: 72/100
• State rank: #263
• US rank: #6482

Category grades

Amenities F Commute D+ Cost of living F 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: 34,892
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 17,387
• Household income: $143,204
• Rent vs Own: 11.3% rent · 88.7% own
• Severe rent burden: 85.0

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 (79%)
• Race & ethnicity: White 79% Asian 10% Two or more races 4% Black 4% Hispanic / Latino 2%
• Common ancestry: Romanian 6% Lithuanian 3% Slovak 2%
• Foreign-born: 17% · China, Canada, South Korea
• Languages at home: 79% English-only · Other Indo-European 6% Arabic 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: ▼ -195.96%
• Current HPI: 160.6477
• 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

+53.9% since first listed

61 events — show timeline

• 2026-05-14 Listed $399,900 REALCOMP
• 2026-05-14 Listed $399,900 MiRealSource-MiMLS
• 2026-04-25 Listing Removed — MiRealSource-MiMLS
• 2026-03-31 Price Changed $425,000 MiRealSource-MiMLS
• 2026-03-31 Price Changed $425,000 REALCOMP
• 2026-02-28 Price Changed $450,000 MiRealSource-MiMLS
• 2026-02-27 Price Changed $450,000 REALCOMP
• 2026-02-13 Price Changed $475,000 MiRealSource-MiMLS
• 2026-02-12 Price Changed $475,000 REALCOMP
• 2026-01-10 Listed $490,000 MiRealSource-MiMLS
• 2026-01-10 Listed $490,000 REALCOMP
• 2026-01-08 Coming Soon — MiRealSource-MiMLS
• 2025-08-16 Listing Removed — REALCOMP
• 2025-08-16 Listing Removed — MiRealSource-MiMLS
• 2025-07-30 Price Changed $499,600 MiRealSource-MiMLS
• 2025-07-30 Price Changed $499,600 REALCOMP
• 2025-06-25 Listed $499,700 REALCOMP
• 2025-06-23 Listed $499,700 MiRealSource-MiMLS
• 2022-11-08 Listing Removed — MiRealSource-MiMLS
• 2022-11-07 Listing Removed — REALCOMP
• 2022-10-18 Listed $319,000 MiRealSource-MiMLS
• 2022-10-18 Listed $319,000 REALCOMP
• 2022-09-07 Listing Removed — REALCOMP
• 2022-09-07 Listing Removed — MiRealSource-MiMLS
• 2022-07-23 Price Changed $349,000 MiRealSource-MiMLS
• 2022-07-23 Price Changed $349,000 REALCOMP
• 2022-07-12 Listed $359,000 MiRealSource-MiMLS
• 2022-07-12 Listed $359,000 REALCOMP
• 2019-06-29 Listing Removed — REALCOMP
• 2019-06-29 Listing Removed — MiRealSource-MiMLS
• 2018-07-20 Price Changed $299,900 MiRealSource-MiMLS
• 2018-07-20 Price Changed $299,900 REALCOMP
• 2018-06-19 Listed $315,000 MiRealSource-MiMLS
• 2018-06-19 Listed $315,000 REALCOMP
• 2017-05-16 Sold (Public Records) $232,000 Public Records
• 2017-04-28 Sold (MLS) $232,000 MiRealSource-MiMLS
• 2017-04-28 Sold (MLS) $232,000 REALCOMP
• 2017-03-31 Pending — MiRealSource-MiMLS
• 2017-03-31 Pending — REALCOMP
• 2017-03-22 Listed $238,700 MiRealSource-MiMLS
• 2017-03-22 Listed $238,700 REALCOMP
• 2016-09-23 Listing Removed — REALCOMP
• 2016-09-22 Listing Removed — MiRealSource-MiMLS
• 2016-07-15 Price Changed $249,000 MiRealSource-MiMLS
• 2016-07-15 Price Changed $249,000 REALCOMP
• 2016-06-23 Listed $259,000 MiRealSource-MiMLS
• 2016-06-22 Listed $259,000 REALCOMP
• 2015-10-25 Listing Removed — REALCOMP
• 2015-10-25 Listing Removed — MiRealSource-MiMLS
• 2015-09-18 Price Changed $254,000 MiRealSource-MiMLS
• 2015-09-18 Price Changed $254,000 REALCOMP
• 2015-06-24 Listed $259,900 MiRealSource-MiMLS
• 2015-06-24 Listed $259,900 REALCOMP
• 2005-10-06 Listing Removed — REALCOMP
• 2005-09-07 Listed $289,000 REALCOMP
• 2005-09-06 Listing Removed — REALCOMP
• 2005-06-09 Listed $289,000 REALCOMP
• 2001-10-18 Listing Removed — REALCOMP
• 2001-09-04 Listing Removed — REALCOMP
• 2001-09-01 Listed $259,900 REALCOMP
• 2001-07-25 Listed $259,900 REALCOMP

Property tax history

+6.8%/yr

Latest (2025): $6,237 · +2.1% YoY. Source: county tax records.