28989 Ramblewood Dr · Farmington Hills, MI 48334

$355,000

4 bd · 2.5 ba · 2,697 sqft · SingleFamily public records · 7 Days on market

Built 1968 0.31 ac lot $132/sqft · 11% below area Est $441k · 20% under $33/mo HOA · 1% 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).

• ARV discount +15.0/15.0
• Cash flow +7.5/30.0
• Schools +4.6/10.0
• Livability +4.0/5.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Desirable Olde Franklin Towne location. Wood floors in Family Room, Kitchen/Nook, Library, Master Bedroom and under carpet in other Bedrooms. Parquet under carpet in bright Living Room with Bay Window. Large Family Room with brick hearth fireplace. Nice formal Dining Room. Large Master with two walk-in closets and crown moulding. Ceramic under carpet in Hall Bath. Convenient first floor Laundry Room. Newer furnace, hot water heater and sump pump. Covered porch to enjoy passers-by and nice West facing backyard with deck. Commons areas to play and roam. Close to shopping, expressways, Houses of Worship. Well maintained. Price reflects the need for updating. Home Protection Plan Included.

Key facts

• Dishwasher
• Cooktop
• Sunken living room

Tags

• EAT-IN KITCHEN
• DOUBLE WALL OVENS
• BUILT-IN MICROWAVE
• COOKTOP
• DISHWASHER
• SUNKEN LIVING ROOM

Property features AI

Finance

• Other: Lot approximately 0.31 acre (dimensions 90 x 150)
• HOA & community: Homeowners association with annual fee of $400 (about $33.33/month)

Exterior

• Parking: Attached garage with 2 spaces
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two-story home; Ground-level entry with steps; Aluminum siding and brick exterior
• Construction: Asphalt roof; Partially finished below-grade area (300 finished below grade)
• Exterior features: Exterior lighting; Covered patio/porch; Deck; Paved road access

Interior

• Bathrooms: Two full bathrooms; One half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Smart thermostat; Wood-burning fireplace in the family room; Gas water heater; Partially finished basement with sump pump; Dehumidifier
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $355k.

Deal economics

• At list price, monthly cash flow is $-443 ($-5k/yr) — negative.
• To cash-flow at today's rent, offer at most $277k (22.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $277k (21.9% below list).
• Recommended offer: $277k (22.1% below list) — sets the bar for cash-flow.
• Cap rate 4.8% 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: Wood Creek Elementary School (math 17% / reading 27%, grade F, #1,035 of 1,397 statewide, top 77%, 401 students, 43% FRL); Warner Middle School (math 37% / reading 56%, grade D+, #150 of 493 statewide, top 31%, 571 students, 34% FRL) — zoned schools average 39% FRL vs 19% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 34% at this address vs 52% district-wide (-17 pts) — the specific schools serving this property underperform the Farmington Public School District average; the district grade overstates school quality for this exact location.
• Market conditions: 93 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent runs 33% of the median local income ($102k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $11k 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 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 12y 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 $223k; list at $355k implies a 59% gain — meaningful room to come down on a strong offer.

Recommended offer $276,660 (22.1% 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. Built in 1968 — 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. 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. 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: 0.78% ✗
• Cap rate: 4.79%
• Cash-on-cash: -5.35%
• DSCR: 0.76
• GRM: 10.7

CMA / ARV

• ARV (median comp): $441,016
• List price: $355,000
• Delta: -19.50%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7476 Franklin Ridge Way	0.42mi	4/2.5	2,611 (-3%)	0mo	$425,000	$163	75
5241 S Pebblecreek Rd	0.33mi	3/2.5 (-1)	2,742 (+2%)	3mo	$415,000	$151	74
28988 Ramblewood Dr	0.03mi	4/3.0	2,437 (-10%)	12mo	$439,000	$180	71
32225 Tall Timber Dr	0.32mi	4/2.5	2,842 (+5%)	15mo	$525,000	$185	63
7415 E Franklin Ridge Ln NE	0.37mi	3/3.5 (-1)	2,547 (-6%)	2mo	$460,000	$181	62
32396 Tareyton St	0.24mi	3/2.0 (-1)	2,525 (-6%)	12mo	$340,000	$135	61
29621 Gilchrest St	0.45mi	3/2.0 (-1)	2,812 (+4%)	5mo	$305,000	$108	61
28824 Still Valley Dr	0.18mi	4/2.5	3,035 (+12%)	14mo	$445,000	$147	59
6780 Post Oak Dr	0.74mi	4/2.5	2,616 (-3%)	2mo	$435,000	$166	59
7209 Stonebrook Rd	0.43mi	4/2.5	2,298 (-15%)	4mo	$385,000	$168	52
32515 Nottingham Knls	0.51mi	3/2.0 (-1)	3,050 (+13%)	8mo	$291,000	$95	41
29546 Gilchrest St	0.41mi	3/2.0 (-1)	3,050 (+13%)	17mo	$307,500	$101	38

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: -25.4%
• Equity multiple: 0.14×
• Total profit: $-85,618
• Equity at exit: $52,932

10-year hold

• IRR: -21.4%
• Equity multiple: -0.11×
• Total profit: $-110,306
• Equity at exit: $30,694

Cash invested: $99,400 (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 48334

• Active inventory: 93
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,771 medium
• Mortgage (P&I): −$1,862
• Tax from tax record: −$590 /mo · $7,079/yr
• Insurance: −$148
• HOA: −$33
• Vacancy / Maint / Mgmt: −$582
• Net cashflow: $-443

Break-even live

Break-even rent $3,332

Max offer price $276,660

Occupancy floor —

Sensitivity live

Price	-10% $-243	-5% $-343	+0% $-443	+5% $-544	+10% $-644
Rent	-10% $-662	-5% $-553	+0% $-443	+5% $-334	+10% $-225
Rate	-1.0pp $-265	-0.5pp $-353	base $-443	+0.5pp $-535	+1.0pp $-629

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: $88,750
• Closing costs: $10,650
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6628 Heather Heath West Bloomfield, MI	4.0	2.5	2604	$3,000	$1.15	12d	1	1.18mi
31200 Hunters Dr Farmington Hills, MI	1.0–3.0	1.0–2.5	1520	$2,363	$1.55	0d	15	1.30mi

HOA detail

• Monthly dues: $33 · $396/yr
• Likely covers: water

Listing history 13 events

1. 2026-05-08
   status Pending 764-char remark
2. 2026-05-08
   status Pending 776-char remark
3. 2026-05-01
   listed $355,000 Active 764-char remark
4. 2026-05-01
   listed $355,000 Active 776-char remark
5. 2015-04-21
   soldstatus $223,000
6. 2015-03-04
   soldstatus $223,000 Sold

   Show marketing remark (694 chars)

   Desirable Olde Franklin Towne location. Wood floors in Family Room, Kitchen/Nook, Library, Master Bedroom and under carpet in other Bedrooms. Parquet under carpet in bright Living Room with Bay Window. Large Family Room with brick hearth fireplace. Nice formal Dining Room. Large Master with two walk-in closets and crown moulding. Ceramic under carpet in Hall Bath. Convenient first floor Laundry Room. Newer furnace, hot water heater and sump pump. Covered porch to enjoy passers-by and nice West facing backyard with deck. Commons areas to play and roam. Close to shopping, expressways, Houses of Worship. Well maintained. Price reflects the need for updating. Home Protection Plan Included.

7. 2015-03-04
   soldstatus $223,000

   Show marketing remark (694 chars)

   Desirable Olde Franklin Towne location. Wood floors in Family Room, Kitchen/Nook, Library, Master Bedroom and under carpet in other Bedrooms. Parquet under carpet in bright Living Room with Bay Window. Large Family Room with brick hearth fireplace. Nice formal Dining Room. Large Master with two walk-in closets and crown moulding. Ceramic under carpet in Hall Bath. Convenient first floor Laundry Room. Newer furnace, hot water heater and sump pump. Covered porch to enjoy passers-by and nice West facing backyard with deck. Commons areas to play and roam. Close to shopping, expressways, Houses of Worship. Well maintained. Price reflects the need for updating. Home Protection Plan Included.

8. 2014-12-12
   historical

   Show marketing remark (694 chars)

   Desirable Olde Franklin Towne location. Wood floors in Family Room, Kitchen/Nook, Library, Master Bedroom and under carpet in other Bedrooms. Parquet under carpet in bright Living Room with Bay Window. Large Family Room with brick hearth fireplace. Nice formal Dining Room. Large Master with two walk-in closets and crown moulding. Ceramic under carpet in Hall Bath. Convenient first floor Laundry Room. Newer furnace, hot water heater and sump pump. Covered porch to enjoy passers-by and nice West facing backyard with deck. Commons areas to play and roam. Close to shopping, expressways, Houses of Worship. Well maintained. Price reflects the need for updating. Home Protection Plan Included.

9. 2014-12-12
   historical

   Show marketing remark (694 chars)

   Desirable Olde Franklin Towne location. Wood floors in Family Room, Kitchen/Nook, Library, Master Bedroom and under carpet in other Bedrooms. Parquet under carpet in bright Living Room with Bay Window. Large Family Room with brick hearth fireplace. Nice formal Dining Room. Large Master with two walk-in closets and crown moulding. Ceramic under carpet in Hall Bath. Convenient first floor Laundry Room. Newer furnace, hot water heater and sump pump. Covered porch to enjoy passers-by and nice West facing backyard with deck. Commons areas to play and roam. Close to shopping, expressways, Houses of Worship. Well maintained. Price reflects the need for updating. Home Protection Plan Included.

10. 2014-11-22
    listed $239,000 Active

    Show marketing remark (694 chars)

    Desirable Olde Franklin Towne location. Wood floors in Family Room, Kitchen/Nook, Library, Master Bedroom and under carpet in other Bedrooms. Parquet under carpet in bright Living Room with Bay Window. Large Family Room with brick hearth fireplace. Nice formal Dining Room. Large Master with two walk-in closets and crown moulding. Ceramic under carpet in Hall Bath. Convenient first floor Laundry Room. Newer furnace, hot water heater and sump pump. Covered porch to enjoy passers-by and nice West facing backyard with deck. Commons areas to play and roam. Close to shopping, expressways, Houses of Worship. Well maintained. Price reflects the need for updating. Home Protection Plan Included.

11. 2014-11-21
    listed $239,000
12. 1990-02-02
    soldstatus $160,000
13. 1968-08-01
    soldstatus $43,675

ⓘ 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: $7,079 · $590/mo
• Projected year-2 tax: $7,079 · $590/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: $33,252
• − Mortgage interest: −$19,886
• − Property taxes: −$7,079
• − Insurance: −$1,775
• − Repairs & maintenance: −$2,660
• − Management: −$2,660
• − HOA: −$396
• − Depreciation: −$10,327
• Taxable loss: −$11,532
• Est. tax savings @ 24.0%: +$2,768
• After-tax cash flow: $-2,554/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

+712.8% since first listed

14 events — show timeline

• 2026-05-08 Pending — MiRealSource-MiMLS
• 2026-05-08 Pending — REALCOMP
• 2026-05-08 Listing Removed — MiRealSource-MiMLS
• 2026-05-01 Listed $355,000 REALCOMP
• 2026-05-01 Listed $355,000 MiRealSource-MiMLS
• 2015-04-21 Sold (Public Records) $223,000 Public Records
• 2015-03-04 Sold (MLS) $223,000 MiRealSource-MiMLS
• 2015-03-04 Sold (MLS) $223,000 REALCOMP
• 2014-12-12 Listing Removed — REALCOMP
• 2014-12-12 Listing Removed — MiRealSource-MiMLS
• 2014-11-22 Listed $239,000 REALCOMP
• 2014-11-21 Listed $239,000 MiRealSource-MiMLS
• 1990-02-02 Sold (Public Records) $160,000 Public Records
• 1968-08-01 Sold (Public Records) $43,675 Public Records

Property tax history

+3.5%/yr

Latest (2025): $7,079 · +10145.1% YoY. Source: county tax records.