28231 Farmington Rd · Farmington Hills, MI 48334

$292,900

3 bd · 1.5 ba · 1,478 sqft · SingleFamily public records · 217 Days on market

Built 1956 0.37 ac lot $198/sqft · 16% below area Est $350k · 16% under

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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).

• ARV discount +14.9/15.0
• Cash flow +8.1/30.0
• Schools +4.6/10.0
• Livability +4.0/5.0
• 1% rule +2.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful brick ranch in a great location with Farmington Schools! Huge layout, nearly 1500 sq ft! Oversized lot sitting well back on road. Plenty of parking, private yard. Huge bedrooms, eat in kitchen as well as formal dining. 2 living spaces, with a large living room with fireplace and quaint family room with doorwall to patio. Massive unfinished basement with glass block windows. Newer 3 dimensional roof & well maintained home otherwise. Located near shopping, dining, local parks and expressways. Make your appointment today!

Key facts

• Formal dining
• Eat in kitchen
• Private yard

Tags

• BRICK RANCH
• OVERSIZED LOT
• PRIVATE YARD
• EAT IN KITCHEN
• FORMAL DINING
• 2 LIVING SPACES

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $293k.

Deal economics

• At list price, monthly cash flow is $-290 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $242k (17.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $223k (23.9% below list).
• Recommended offer: $223k (23.9% below list) — sets the bar for 1% rule.
• Cap rate 5.1% 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.
• 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.
• Market conditions: 88 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $2k of loan paydown is wiped out by about $9k 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 217 days — a 12% lower offer ($258k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 25y ago; this cycle's ask has dropped $42k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1956 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $222,913 (23.9% 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 217 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Built in 1956 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 0.76% ✗
• Cap rate: 5.11%
• Cash-on-cash: -4.24%
• DSCR: 0.81
• GRM: 10.9

CMA / ARV

• ARV (median comp): $350,373
• List price: $292,900
• Delta: -16.40%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
28313 Kendallwood Dr	0.14mi	3/1.5	1,487 (+1%)	14mo	$350,000	$235	81
28357 New Castle Rd	0.27mi	3/2.0	1,375 (-7%)	2mo	$330,000	$240	73
28164 Kendallwood Dr	0.26mi	3/2.0	1,626 (+10%)	10mo	$367,500	$226	61
28257 New Castle Rd	0.28mi	3/2.0	1,679 (+14%)	9mo	$340,000	$203	55
32460 Dunford St	0.49mi	3/1.5	1,657 (+12%)	11mo	$340,250	$205	48
32115 Bonnet Hill Rd	0.73mi	3/2.0	1,512 (+2%)	21mo	$385,000	$255	42

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: -23.4%
• Equity multiple: 0.20×
• Total profit: $-65,870
• Equity at exit: $43,672

10-year hold

• IRR: -18.2%
• Equity multiple: 0.01×
• Total profit: $-80,923
• Equity at exit: $25,325

Cash invested: $82,012 (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: 88
• Price-to-rent: 10.9×

Monthly cashflow live

• Estimated rent: $2,229 medium
• Mortgage (P&I): −$1,536
• Tax from tax record: −$393 /mo · $4,713/yr
• Insurance: −$122
• HOA: −$0
• Vacancy / Maint / Mgmt: −$468
• Net cashflow: $-290

Break-even live

Break-even rent $2,596

Max offer price $241,704

Occupancy floor —

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: $73,225
• Closing costs: $8,787
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
29374 Glen Oaks Blvd E Farmington Hills, MI	2.0	1.5	1146	$2,100	$1.83	43d	1	1.50mi

Listing history 50 events

1. 2026-06-18
   status $292,900 Pending 217 DOM
2. 2026-06-18
   days on market $292,900 Active 217 DOM
3. 2026-06-17
   days on market $292,900 Active 216 DOM
4. 2026-06-16
   days on market $292,900 Active 215 DOM
5. 2026-06-15
   days on market $292,900 Active 214 DOM
6. 2026-06-13
   days on market $292,900 Active 212 DOM
7. 2026-06-13
   days on market $292,900 Active 211 DOM
8. 2026-06-09
   days on market $292,900 Active 208 DOM
9. 2026-06-08
   days on market $292,900 Active 207 DOM
10. 2026-06-07
    days on market $292,900 Active 206 DOM
11. 2026-06-04
    days on market $292,900 Active 203 DOM
12. 2026-06-02
    days on market $292,900 Active 201 DOM
13. 2026-06-01
    days on market $292,900 Active 200 DOM
14. 2026-05-31
    days on market $292,900 Active 199 DOM
15. 2026-05-18
    status Pending 540-char remark

    Show marketing remark (540 chars)

    Beautiful brick ranch in a great location with Farmington Schools! Huge layout, nearly 1500 sq ft! Oversized lot sitting well back on road. Plenty of parking, private yard. Huge bedrooms, eat in kitchen as well as formal dining. 2 living spaces, with a large living room with fireplace and quaint family room with doorwall to patio. Massive unfinished basement with glass block windows. Newer 3 dimensional roof & well maintained home otherwise. Located near shopping, dining, local parks and expressways. Make your appointment today!

16. 2026-05-18
    status Pending 540-char remark

    Show marketing remark (540 chars)

    Beautiful brick ranch in a great location with Farmington Schools! Huge layout, nearly 1500 sq ft! Oversized lot sitting well back on road. Plenty of parking, private yard. Huge bedrooms, eat in kitchen as well as formal dining. 2 living spaces, with a large living room with fireplace and quaint family room with doorwall to patio. Massive unfinished basement with glass block windows. Newer 3 dimensional roof & well maintained home otherwise. Located near shopping, dining, local parks and expressways. Make your appointment today!

17. 2026-04-05
    price $299,900 540-char remark

    Show marketing remark (540 chars)

    Beautiful brick ranch in a great location with Farmington Schools! Huge layout, nearly 1500 sq ft! Oversized lot sitting well back on road. Plenty of parking, private yard. Huge bedrooms, eat in kitchen as well as formal dining. 2 living spaces, with a large living room with fireplace and quaint family room with doorwall to patio. Massive unfinished basement with glass block windows. Newer 3 dimensional roof & well maintained home otherwise. Located near shopping, dining, local parks and expressways. Make your appointment today!

18. 2026-04-04
    price $299,900 540-char remark

    Show marketing remark (540 chars)

    Beautiful brick ranch in a great location with Farmington Schools! Huge layout, nearly 1500 sq ft! Oversized lot sitting well back on road. Plenty of parking, private yard. Huge bedrooms, eat in kitchen as well as formal dining. 2 living spaces, with a large living room with fireplace and quaint family room with doorwall to patio. Massive unfinished basement with glass block windows. Newer 3 dimensional roof & well maintained home otherwise. Located near shopping, dining, local parks and expressways. Make your appointment today!

19. 2026-02-10
    price $309,900 540-char remark

    Show marketing remark (540 chars)

    Beautiful brick ranch in a great location with Farmington Schools! Huge layout, nearly 1500 sq ft! Oversized lot sitting well back on road. Plenty of parking, private yard. Huge bedrooms, eat in kitchen as well as formal dining. 2 living spaces, with a large living room with fireplace and quaint family room with doorwall to patio. Massive unfinished basement with glass block windows. Newer 3 dimensional roof & well maintained home otherwise. Located near shopping, dining, local parks and expressways. Make your appointment today!

20. 2026-02-09
    price $309,900 540-char remark

    Show marketing remark (540 chars)

    Beautiful brick ranch in a great location with Farmington Schools! Huge layout, nearly 1500 sq ft! Oversized lot sitting well back on road. Plenty of parking, private yard. Huge bedrooms, eat in kitchen as well as formal dining. 2 living spaces, with a large living room with fireplace and quaint family room with doorwall to patio. Massive unfinished basement with glass block windows. Newer 3 dimensional roof & well maintained home otherwise. Located near shopping, dining, local parks and expressways. Make your appointment today!

21. 2025-12-03
    price $314,900 540-char remark

    Show marketing remark (540 chars)

    Beautiful brick ranch in a great location with Farmington Schools! Huge layout, nearly 1500 sq ft! Oversized lot sitting well back on road. Plenty of parking, private yard. Huge bedrooms, eat in kitchen as well as formal dining. 2 living spaces, with a large living room with fireplace and quaint family room with doorwall to patio. Massive unfinished basement with glass block windows. Newer 3 dimensional roof & well maintained home otherwise. Located near shopping, dining, local parks and expressways. Make your appointment today!

22. 2025-12-03
    price $314,900 540-char remark

    Show marketing remark (540 chars)

    Beautiful brick ranch in a great location with Farmington Schools! Huge layout, nearly 1500 sq ft! Oversized lot sitting well back on road. Plenty of parking, private yard. Huge bedrooms, eat in kitchen as well as formal dining. 2 living spaces, with a large living room with fireplace and quaint family room with doorwall to patio. Massive unfinished basement with glass block windows. Newer 3 dimensional roof & well maintained home otherwise. Located near shopping, dining, local parks and expressways. Make your appointment today!

23. 2025-11-18
    price $324,900 540-char remark

    Show marketing remark (540 chars)

    Beautiful brick ranch in a great location with Farmington Schools! Huge layout, nearly 1500 sq ft! Oversized lot sitting well back on road. Plenty of parking, private yard. Huge bedrooms, eat in kitchen as well as formal dining. 2 living spaces, with a large living room with fireplace and quaint family room with doorwall to patio. Massive unfinished basement with glass block windows. Newer 3 dimensional roof & well maintained home otherwise. Located near shopping, dining, local parks and expressways. Make your appointment today!

24. 2025-11-17
    price $324,900 540-char remark

    Show marketing remark (540 chars)

    Beautiful brick ranch in a great location with Farmington Schools! Huge layout, nearly 1500 sq ft! Oversized lot sitting well back on road. Plenty of parking, private yard. Huge bedrooms, eat in kitchen as well as formal dining. 2 living spaces, with a large living room with fireplace and quaint family room with doorwall to patio. Massive unfinished basement with glass block windows. Newer 3 dimensional roof & well maintained home otherwise. Located near shopping, dining, local parks and expressways. Make your appointment today!

25. 2025-11-04
    listed $335,000 Active 540-char remark

    Show marketing remark (540 chars)

    Beautiful brick ranch in a great location with Farmington Schools! Huge layout, nearly 1500 sq ft! Oversized lot sitting well back on road. Plenty of parking, private yard. Huge bedrooms, eat in kitchen as well as formal dining. 2 living spaces, with a large living room with fireplace and quaint family room with doorwall to patio. Massive unfinished basement with glass block windows. Newer 3 dimensional roof & well maintained home otherwise. Located near shopping, dining, local parks and expressways. Make your appointment today!

26. 2025-11-04
    listed $335,000 Active 540-char remark

    Show marketing remark (540 chars)

    Beautiful brick ranch in a great location with Farmington Schools! Huge layout, nearly 1500 sq ft! Oversized lot sitting well back on road. Plenty of parking, private yard. Huge bedrooms, eat in kitchen as well as formal dining. 2 living spaces, with a large living room with fireplace and quaint family room with doorwall to patio. Massive unfinished basement with glass block windows. Newer 3 dimensional roof & well maintained home otherwise. Located near shopping, dining, local parks and expressways. Make your appointment today!

27. 2022-04-29
    soldstatus $280,000
28. 2022-04-05
    soldstatus $280,000 Sold
29. 2022-04-05
    soldstatus $280,000 Closed
30. 2022-03-07
    status Pending
31. 2022-03-07
    status Pending
32. 2022-02-23
    historical Accepting Backup Offers
33. 2022-02-23
    historical Accepting Backup Offers
34. 2022-02-10
    listed $289,900 Active
35. 2022-02-10
    listed $289,900 Active
36. 2018-12-14
    soldstatus $209,500
37. 2018-11-01
    soldstatus $209,500 Sold
38. 2018-11-01
    soldstatus $209,500 Closed
39. 2018-09-12
    status Pending
40. 2018-09-12
    status Pending
41. 2018-08-31
    price $207,500
42. 2018-08-31
    price $207,500
43. 2018-08-14
    price $215,000
44. 2018-08-14
    price $215,000
45. 2018-07-20
    listed $220,000 Active
46. 2018-07-20
    listed $220,000 Active
47. 2014-11-07
    soldstatus $1,525
48. 2014-11-03
    historical
49. 2014-10-24
    listed $1,500
50. 2014-10-24
    historical

ⓘ 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: $4,713 · $393/mo
• Projected year-2 tax: $4,713 · $393/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 ≥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: $26,750
• − Mortgage interest: −$16,407
• − Property taxes: −$4,713
• − Insurance: −$1,464
• − Repairs & maintenance: −$2,140
• − Management: −$2,140
• − Depreciation: −$8,521
• Taxable loss: −$8,636
• Est. tax savings @ 24.0%: +$2,073
• After-tax cash flow: $-1,405/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

+274.9% since first listed

44 events — show timeline

• 2026-05-18 Pending — MiRealSource-MiMLS
• 2026-05-18 Pending — REALCOMP
• 2026-04-05 Price Changed $299,900 MiRealSource-MiMLS
• 2026-04-04 Price Changed $299,900 REALCOMP
• 2026-02-10 Price Changed $309,900 MiRealSource-MiMLS
• 2026-02-09 Price Changed $309,900 REALCOMP
• 2025-12-03 Price Changed $314,900 MiRealSource-MiMLS
• 2025-12-03 Price Changed $314,900 REALCOMP
• 2025-11-18 Price Changed $324,900 MiRealSource-MiMLS
• 2025-11-17 Price Changed $324,900 REALCOMP
• 2025-11-04 Listed $335,000 REALCOMP
• 2025-11-04 Listed $335,000 MiRealSource-MiMLS
• 2022-04-29 Sold (Public Records) $280,000 Public Records
• 2022-04-05 Sold (MLS) $280,000 MiRealSource-MiMLS
• 2022-04-05 Sold (MLS) $280,000 REALCOMP
• 2022-03-07 Pending — MiRealSource-MiMLS
• 2022-03-07 Pending — REALCOMP
• 2022-02-23 Contingent — MiRealSource-MiMLS
• 2022-02-23 Contingent — REALCOMP
• 2022-02-10 Listed $289,900 MiRealSource-MiMLS
• 2022-02-10 Listed $289,900 REALCOMP
• 2018-12-14 Sold (Public Records) $209,500 Public Records
• 2018-11-01 Sold (MLS) $209,500 MiRealSource-MiMLS
• 2018-11-01 Sold (MLS) $209,500 REALCOMP
• 2018-09-12 Pending — MiRealSource-MiMLS
• 2018-09-12 Pending — REALCOMP
• 2018-08-31 Price Changed $207,500 MiRealSource-MiMLS
• 2018-08-31 Price Changed $207,500 REALCOMP
• 2018-08-14 Price Changed $215,000 MiRealSource-MiMLS
• 2018-08-14 Price Changed $215,000 REALCOMP
• 2018-07-20 Listed $220,000 MiRealSource-MiMLS
• 2018-07-20 Listed $220,000 REALCOMP
• 2014-11-07 Sold (MLS) $1,525 MiRealSource-MiMLS
• 2014-11-03 Listing Removed — MiRealSource-MiMLS
• 2014-10-24 Listing Removed — MiRealSource-MiMLS
• 2014-10-24 Listed $1,500 MiRealSource-MiMLS
• 2014-10-03 Listed $1,500 MiRealSource-MiMLS
• 2002-03-25 Sold (Public Records) $189,500 Public Records
• 2002-02-20 Sold (MLS) $189,500 MiRealSource-MiMLS
• 2002-02-20 Sold (MLS) $189,500 REALCOMP
• 2002-01-16 Listing Removed — MiRealSource-MiMLS
• 2001-08-13 Listed $199,500 MiRealSource-MiMLS
• 2001-08-13 Listed $199,500 REALCOMP
• 1985-05-01 Sold (Public Records) $80,000 Public Records

Property tax history

+3.5%/yr

Latest (2025): $4,713 · -22.2% YoY. Source: county tax records.