16982 Farmington Rd · Livonia, MI 48154

$225,000

2 bd · 1.5 ba · 1,198 sqft · Condo public records · 17 Days on market

Built 2003 $507/mo HOA · 22% 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).

• Cash flow +10.1/30.0
• ARV discount +7.5/15.0
• 1% rule +5.2/10.0
• Schools +4.6/10.0
• Livability +3.9/5.0
• DSCR +2.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious Livonia townhouse in Stevenson School district! Boasting 12-foot ceilings in family room, corner gas fireplace with ceramic surround. Spacious kitchen with maple cabinets, large pantry, and hardwood floors overlooks the large dining space. Master bedroom with large closet has a door wall leading to an elevated balcony with wooded views. Bright second bedroom with spacious closet. Bedrooms share a nice full bath. Half bath in lower level. Entry landing with laundry room and half bath. Finished basement that could be used as a den, office or possible third bedroom. Attached one car garage. HOA fee includes water, sewer, grounds maintenance, snow removal and a quaint courtyard with pavilion. Close to freeways, Rotary Park, Madonna University, Schoolcraft College, Livonia Rec Center, restaurants and shopping. Schedule your showing today!

Key facts

• Elevated balcony
• Corner gas fireplace
• 12 foot ceilings

Tags

• 12 FOOT CEILINGS
• CORNER GAS FIREPLACE
• MAPLE CABINETS
• LARGE PANTRY
• HARDWOOD FLOORS
• ELEVATED BALCONY

Property features AI

Finance

• Other: Pets allowed (cats and dogs permitted)
• HOA & community: Homeowners association with monthly fee; Monthly association fee includes grounds and structure maintenance, pest control, snow removal, trash, and water; Association provides grounds maintenance; Community sidewalks

Exterior

• Parking: Attached garage with automatic garage door opener (1 car)
• Utilities: Public water; Public sewer
• Home design: Condominium; Residential property; Two levels; Ground-level entry; Brick construction
• Construction: Brick construction; Asphalt roof; Finished below-grade area
• Exterior features: Balcony; Private entrance; Exterior lighting; Covered patio/porch; Deck; Porch; Paved road access

Interior

• Kitchen: Dishwasher; Disposal; Free-standing electric range; Microwave; Free-standing refrigerator; Gas water heater
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Entrance foyer; High-speed internet; Smart thermostat; Solar tubes; Finished basement with sump pump; Gas fireplace in family room
• Laundry & utility: In-unit laundry room with washer and dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $225k.

Deal economics

• At list price, monthly cash flow is $-131 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $202k (10.3% below list).
• Meets the 1% rule at list price ($2k rent vs $225k).
• Recommended offer: $202k (10.3% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads 77/100 on livability (#116 in MI, #2,784 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities D, health & safety D, commute F.
• Livonia Public Schools School District (urban): math 46% / reading 59% proficiency, ranked #77 of 540 in MI (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Buchanan Elementary School (math 57% / reading 62%, grade B-, #200 of 1,397 statewide, top 16%, 467 students, 31% FRL); Holmes Middle School (math 42% / reading 65%, grade C+, #86 of 493 statewide, top 18%, 656 students, 25% FRL); Stevenson High School (math 51% / reading 72%, grade B-, #66 of 713 statewide, top 9%, 1,636 students, 23% FRL) — zoned schools at 26% FRL track the district average.
• Market conditions: 108 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,639 units permitted in Wayne County in 2024 (1,216 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 $7k of value loss. Plan a longer hold.
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($222k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 22y 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 $158k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 22% of rent.

Recommended offer $201,917 (10.3% 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. 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. 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 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: 1.02% ✓
• Cap rate: 5.60%
• Cash-on-cash: -2.49%
• DSCR: 0.89
• GRM: 8.1

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: -20.3%
• Equity multiple: 0.29×
• Total profit: $-44,503
• Equity at exit: $33,548

10-year hold

• IRR: -13.0%
• Equity multiple: 0.23×
• Total profit: $-48,336
• Equity at exit: $19,454

Cash invested: $63,000 (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 48154

• Active inventory: 108
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $2,305 medium
• Mortgage (P&I): −$1,180
• Tax from tax record: −$171 /mo · $2,055/yr
• Insurance: −$94
• HOA: −$507
• Vacancy / Maint / Mgmt: −$484
• Net cashflow: $-131

Break-even live

Break-even rent $2,471

Max offer price $201,917

Occupancy floor —

Sensitivity live

Price	-10% $-3	-5% $-67	+0% $-131	+5% $-194	+10% $-258
Rent	-10% $-313	-5% $-222	+0% $-131	+5% $-40	+10% $51
Rate	-1.0pp $-17	-0.5pp $-73	base $-131	+0.5pp $-189	+1.0pp $-248

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
18334 Irving St Livonia, MI	3.0	1.0	1151	$2,200	$1.91	0d	1	0.74mi
31015 Dorais St Livonia, MI	3.0	1.5	1229	$2,495	$2.03	18d	1	1.35mi

HOA detail condo

• Monthly dues: $507 · $6,084/yr
• Likely covers: watersewergaslandscapingsnow removal
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-05-11
   listed $225,000 Active 854-char remark

   Show marketing remark (854 chars)

   Spacious Livonia townhouse in Stevenson School district! Boasting 12-foot ceilings in family room, corner gas fireplace with ceramic surround. Spacious kitchen with maple cabinets, large pantry, and hardwood floors overlooks the large dining space. Master bedroom with large closet has a door wall leading to an elevated balcony with wooded views. Bright second bedroom with spacious closet. Bedrooms share a nice full bath. Half bath in lower level. Entry landing with laundry room and half bath. Finished basement that could be used as a den, office or possible third bedroom. Attached one car garage. HOA fee includes water, sewer, grounds maintenance, snow removal and a quaint courtyard with pavilion. Close to freeways, Rotary Park, Madonna University, Schoolcraft College, Livonia Rec Center, restaurants and shopping. Schedule your showing today!

2. 2026-05-11
   listed $225,000 Active

   Show marketing remark (854 chars)

   Spacious Livonia townhouse in Stevenson School district! Boasting 12-foot ceilings in family room, corner gas fireplace with ceramic surround. Spacious kitchen with maple cabinets, large pantry, and hardwood floors overlooks the large dining space. Master bedroom with large closet has a door wall leading to an elevated balcony with wooded views. Bright second bedroom with spacious closet. Bedrooms share a nice full bath. Half bath in lower level. Entry landing with laundry room and half bath. Finished basement that could be used as a den, office or possible third bedroom. Attached one car garage. HOA fee includes water, sewer, grounds maintenance, snow removal and a quaint courtyard with pavilion. Close to freeways, Rotary Park, Madonna University, Schoolcraft College, Livonia Rec Center, restaurants and shopping. Schedule your showing today!

3. 2019-09-16
   soldstatus $158,000
4. 2019-08-07
   soldstatus $158,000 Sold 642-char remark

   Show marketing remark (642 chars)

   All Brick townhouse style condo with 2 bedrooms and 1.5 baths with an open floor-plan. Spacious kitchen with maple cabinets and wood floors. Great room has 12-foot ceiling with gas fireplace and ceramic surround. The master bedroom has a door-wall leading to an elevated balcony with a wooded view. There is full size washer and dryer in lower level with additional space for gathering, maybe a den or a possible 3rd bedroom. All appliances stay. There is a one car attached garage. HOA fee includes water and sewer. Close to freeways, Rotary Park, Madonna University, Schoolcraft College, Livonia Rec Center, restaurants and shopping. BATVAI

5. 2019-08-07
   soldstatus $158,000 Closed

   Show marketing remark (642 chars)

   All Brick townhouse style condo with 2 bedrooms and 1.5 baths with an open floor-plan. Spacious kitchen with maple cabinets and wood floors. Great room has 12-foot ceiling with gas fireplace and ceramic surround. The master bedroom has a door-wall leading to an elevated balcony with a wooded view. There is full size washer and dryer in lower level with additional space for gathering, maybe a den or a possible 3rd bedroom. All appliances stay. There is a one car attached garage. HOA fee includes water and sewer. Close to freeways, Rotary Park, Madonna University, Schoolcraft College, Livonia Rec Center, restaurants and shopping. BATVAI

6. 2019-06-28
   status Pending

   Show marketing remark (642 chars)

   All Brick townhouse style condo with 2 bedrooms and 1.5 baths with an open floor-plan. Spacious kitchen with maple cabinets and wood floors. Great room has 12-foot ceiling with gas fireplace and ceramic surround. The master bedroom has a door-wall leading to an elevated balcony with a wooded view. There is full size washer and dryer in lower level with additional space for gathering, maybe a den or a possible 3rd bedroom. All appliances stay. There is a one car attached garage. HOA fee includes water and sewer. Close to freeways, Rotary Park, Madonna University, Schoolcraft College, Livonia Rec Center, restaurants and shopping. BATVAI

7. 2019-06-28
   status Pending 642-char remark

   Show marketing remark (642 chars)

   All Brick townhouse style condo with 2 bedrooms and 1.5 baths with an open floor-plan. Spacious kitchen with maple cabinets and wood floors. Great room has 12-foot ceiling with gas fireplace and ceramic surround. The master bedroom has a door-wall leading to an elevated balcony with a wooded view. There is full size washer and dryer in lower level with additional space for gathering, maybe a den or a possible 3rd bedroom. All appliances stay. There is a one car attached garage. HOA fee includes water and sewer. Close to freeways, Rotary Park, Madonna University, Schoolcraft College, Livonia Rec Center, restaurants and shopping. BATVAI

8. 2019-06-21
   listed $159,999 Active 642-char remark

   Show marketing remark (642 chars)

   All Brick townhouse style condo with 2 bedrooms and 1.5 baths with an open floor-plan. Spacious kitchen with maple cabinets and wood floors. Great room has 12-foot ceiling with gas fireplace and ceramic surround. The master bedroom has a door-wall leading to an elevated balcony with a wooded view. There is full size washer and dryer in lower level with additional space for gathering, maybe a den or a possible 3rd bedroom. All appliances stay. There is a one car attached garage. HOA fee includes water and sewer. Close to freeways, Rotary Park, Madonna University, Schoolcraft College, Livonia Rec Center, restaurants and shopping. BATVAI

9. 2019-06-21
   listed $159,999 Active

   Show marketing remark (642 chars)

   All Brick townhouse style condo with 2 bedrooms and 1.5 baths with an open floor-plan. Spacious kitchen with maple cabinets and wood floors. Great room has 12-foot ceiling with gas fireplace and ceramic surround. The master bedroom has a door-wall leading to an elevated balcony with a wooded view. There is full size washer and dryer in lower level with additional space for gathering, maybe a den or a possible 3rd bedroom. All appliances stay. There is a one car attached garage. HOA fee includes water and sewer. Close to freeways, Rotary Park, Madonna University, Schoolcraft College, Livonia Rec Center, restaurants and shopping. BATVAI

10. 2016-09-12
    soldstatus $136,000
11. 2010-08-19
    soldstatus $99,900
12. 2010-07-08
    soldstatus $99,900
13. 2010-02-19
    listed $99,900
14. 2007-07-09
    historical
15. 2007-01-15
    listed $159,800
16. 2007-01-15
    historical
17. 2006-09-11
    listed $159,900
18. 2004-09-07
    historical
19. 2004-05-17
    listed $177,626

ⓘ 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: $2,055 · $171/mo
• Projected year-2 tax: $2,760 · $230/mo
• Expected delta: +$705/yr (+$59/mo · 34.3%)

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

Taxation est. · year 1

• Rental income: $27,665
• − Mortgage interest: −$12,603
• − Property taxes: −$2,055
• − Insurance: −$1,125
• − Repairs & maintenance: −$2,213
• − Management: −$2,213
• − HOA: −$6,084
• − Depreciation: −$6,545
• Taxable loss: −$5,175
• Est. tax savings @ 24.0%: +$1,242
• After-tax cash flow: $-326/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: Livonia Public Schools School District
• NCES district ID: 2621840
• Math proficiency: 46% ▼ -5.00%
• Reading proficiency: 59% ▬ 0.00%
• Median HH income: $65,268
• Composite: 46.27/100
• National rank: #2480
• State rank: #77 of 540 in MI

Livability — Livonia

• Score: 77/100
• State rank: #116
• US rank: #2784

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Livonia, MI
• City population: 56,806
• Population (ZIP): 36,915

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 1,675,273 people
• By 2030: 1,620,300 · -3.3%
• By 2040: 1,502,341 · -10.3%
• By 2050: 1,384,039 · -17.4%
• By 2075: 1,124,592 · -32.9%
• By 2100: 881,193 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 6% Hispanic / Latino 4% Black 4% Asian 2%
• Common ancestry: Romanian 13% Lithuanian 4% Italian 3%
• Foreign-born: 6% · Canada
• Languages at home: 92% English-only · Other Indo-European 3% Arabic 2% Spanish 2%

Political lean MEDSL · Wayne

• 2024 margin: Strong D (+29.0) · D 62.7% · R 33.7% · Other 3.6%
• 2008→2024 swing: -20.5pp toward R · 2008: 49.5pp · 2024: 29.0pp
• All cycles: 2024: D+29.0 2020: D+38.1 2016: D+37.3 2012: D+46.9 2008: D+49.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -263.93%
• Current HPI: 192.3426
• Rent YoY: —
• Metro: —
• 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

+26.7% since first listed

19 events — show timeline

• 2026-05-11 Listed $225,000 REALCOMP
• 2026-05-11 Listed $225,000 MiRealSource-MiMLS
• 2019-09-16 Sold (Public Records) $158,000 Public Records
• 2019-08-07 Sold (MLS) $158,000 MiRealSource-MiMLS
• 2019-08-07 Sold (MLS) $158,000 REALCOMP
• 2019-06-28 Pending — MiRealSource-MiMLS
• 2019-06-28 Pending — REALCOMP
• 2019-06-21 Listed $159,999 MiRealSource-MiMLS
• 2019-06-21 Listed $159,999 REALCOMP
• 2016-09-12 Sold (Public Records) $136,000 Public Records
• 2010-08-19 Sold (Public Records) $99,900 Public Records
• 2010-07-08 Sold (MLS) $99,900 REALCOMP
• 2010-02-19 Listed $99,900 REALCOMP
• 2007-07-09 Listing Removed — REALCOMP
• 2007-01-15 Listing Removed — REALCOMP
• 2007-01-15 Listed $159,800 REALCOMP
• 2006-09-11 Listed $159,900 REALCOMP
• 2004-09-07 Listing Removed — REALCOMP
• 2004-05-17 Listed $177,626 REALCOMP

Property tax history

+1.5%/yr

Latest (2025): $2,055 · -44.2% YoY. Source: county tax records.