27920 Berrywood Ln #33 · Farmington Hills, MI 48334

$140,000

1 bd · 1.0 ba · 1,036 sqft · Condo public records · 41 Days on market

Built 1975 $135/sqft · 6% below area Est $149k · 6% under $241/mo HOA · 16% 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 +13.9/30.0
• ARV discount +10.3/15.0
• 1% rule +5.5/10.0
• Schools +4.6/10.0
• DSCR +4.2/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Updated and move-in ready main level first floor condo in the heart of Farmington Hills offering over 1,000 square feet of comfortable living space, 1 spacious bedroom, 1 full bath, and 1 half bath. This well-maintained condo features an updated kitchen with newer appliances, brand-new flooring, and plenty of cabinet and counter space for everyday living and entertaining. The large primary suite includes double closets and an updated en suite bath with vinyl flooring, a spacious vanity, and a private shower and toilet area. Recent updates throughout the condo include fresh paint, updated carpet, lighting fixtures, bathroom improvements, kitchen flooring, appliances, and more, creating a clean and modern feel throughout the home. One of the rare features of this condo is the private basement space, complete with laundry area, washer and dryer included, plus abundant storage space rarely found in condo living. Enjoy peaceful mornings or evenings on the covered walk-out patio overlooking the quiet community setting. Additional conveniences include a covered carport, extra storage, a community clubhouse, and an in-ground pool perfect for summer enjoyment. Located near I-696, Northwestern Highway, shopping, dining, grocery stores, and local parks, this location offers both convenience and accessibility while maintaining a quiet residential atmosphere. An added bonus for homeowners and investors alike: there are no rental restrictions in the community.

Key facts

• $241 HOA
• Community pool
• Built 1975

Property features AI

Finance

• Other: Pets allowed with number and size limits
• Financial info: Annual property tax listed (not included in HOA details)
• HOA & community: Homeowners association with a monthly fee of $241; HOA covers grounds maintenance, snow removal, trash and water

Exterior

• Parking: Assigned parking in a parking lot; Carport (no garage)
• Utilities: Public water; Public sewer
• Home design: Condominium; One level; Ground-level entry with steps; Brick construction
• Construction: Asphalt roof
• Exterior features: Deck; Community outdoor in-ground pool; Clubhouse; Paved road

Interior

• Kitchen: Dishwasher; Free‑standing gas range; Range hood; Free‑standing refrigerator
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Wet bar; Unfinished basement
• Laundry & utility: Washer; Dryer; In-unit laundry room

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $16 ($190/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 6.4% 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; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).
• This rent is only 17% of the median local income ($102k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 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.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $56k; list at $140k implies a 150% gain — meaningful room to come down on a strong offer.

Recommended offer $135,800 (3.0% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1975 — 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. 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 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: 1.05% ✓
• Cap rate: 6.43%
• Cash-on-cash: 0.48%
• DSCR: 1.02
• GRM: 8.0

CMA / ARV

• ARV (median comp): $149,232
• List price: $140,000
• Delta: -6.19%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -15.4%
• Equity multiple: 0.45×
• Total profit: $-21,548
• Equity at exit: $20,874

10-year hold

• IRR: -6.7%
• Equity multiple: 0.57×
• Total profit: $-16,941
• Equity at exit: $12,105

Cash invested: $39,200 (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: 8.0×

Monthly cashflow live

• Estimated rent: $1,465 high
• Mortgage (P&I): −$734
• Tax from tax record: −$108 /mo · $1,297/yr
• Insurance: −$58
• HOA: −$241
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $16

Break-even live

Break-even rent $1,445

Max offer price $140,000

Occupancy floor 94%

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
29860 W 12 Mile Rd Farmington Hills, MI	2.0	2.0	1200	$1,500	$1.25	5d	1	0.20mi
27517 Gateway Dr E Farmington Hills, MI	1.0–2.0	1.0–2.0	987	$1,439	$1.46	17d	80	0.29mi
27991 Rollcrest Rd #1 Farmington Hills, MI	2.0	1.0	922	$1,600	$1.74	44d	1	0.30mi
30042 W 12 Mile Rd #56 Farmington Hills, MI	2.0	2.0	1190	$1,550	$1.30	24d	1	0.34mi
30250 W 12 Mile Rd Unit B102 Farmington Hills, MI	1.0	1.0	842	$1,120	$1.33	24d	1	0.45mi
27600 Cordoba Dr Farmington Hills, MI	1.0–2.0	1.0	764	$1,342	$1.76	2d	18	0.47mi
29374 Glen Oaks Blvd E Farmington Hills, MI	2.0	1.5	1146	$2,100	$1.83	44d	1	1.05mi
27654 E Echo Vly #232 Farmington Hills, MI	1.0	1.0	1208	$1,500	$1.24	22d	1	1.07mi
31993 W 12 Mile Rd Farmington Hills, MI	1.0	1.0	901	$1,100	$1.22	3d	1	1.20mi
32005 W 12 Mile Rd #203 Farmington, MI	1.0	1.0	876	$1,250	$1.43	44d	1	1.21mi
32005 W 12 Mile Rd Farmington Hills, MI	1.0	1.0	731	$1,224	$1.68	12d	2	1.22mi

HOA detail condo

• Monthly dues: $241 · $2,892/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 19 events

1. 2026-06-18
   days on market $140,000 Active 41 DOM
2. 2026-06-17
   days on market $140,000 Active 40 DOM
3. 2026-06-16
   days on market $140,000 Active 39 DOM
4. 2026-06-15
   days on market $140,000 Active 38 DOM
5. 2026-06-13
   days on market $140,000 Active 36 DOM
6. 2026-06-13
   days on market $140,000 Active 35 DOM
7. 2026-06-09
   days on market $140,000 Active 32 DOM
8. 2026-06-08
   days on market $140,000 Active 31 DOM
9. 2026-06-07
   days on market $140,000 Active 30 DOM
10. 2026-06-04
    days on market $140,000 Active 27 DOM
11. 2026-06-02
    days on market $140,000 Active 25 DOM
12. 2026-06-01
    days on market $140,000 Active 24 DOM
13. 2026-05-31
    days on market $140,000 Active 23 DOM
14. 2026-05-09
    listed $140,000 Active 1470-char remark

    Show marketing remark (1470 chars)

    Updated and move-in ready main level first floor condo in the heart of Farmington Hills offering over 1,000 square feet of comfortable living space, 1 spacious bedroom, 1 full bath, and 1 half bath. This well-maintained condo features an updated kitchen with newer appliances, brand-new flooring, and plenty of cabinet and counter space for everyday living and entertaining. The large primary suite includes double closets and an updated en suite bath with vinyl flooring, a spacious vanity, and a private shower and toilet area. Recent updates throughout the condo include fresh paint, updated carpet, lighting fixtures, bathroom improvements, kitchen flooring, appliances, and more, creating a clean and modern feel throughout the home. One of the rare features of this condo is the private basement space, complete with laundry area, washer and dryer included, plus abundant storage space rarely found in condo living. Enjoy peaceful mornings or evenings on the covered walk-out patio overlooking the quiet community setting. Additional conveniences include a covered carport, extra storage, a community clubhouse, and an in-ground pool perfect for summer enjoyment. Located near I-696, Northwestern Highway, shopping, dining, grocery stores, and local parks, this location offers both convenience and accessibility while maintaining a quiet residential atmosphere. An added bonus for homeowners and investors alike: there are no rental restrictions in the community.

15. 2026-05-09
    listed $140,000 Active 1470-char remark

    Show marketing remark (1470 chars)

    Updated and move-in ready main level first floor condo in the heart of Farmington Hills offering over 1,000 square feet of comfortable living space, 1 spacious bedroom, 1 full bath, and 1 half bath. This well-maintained condo features an updated kitchen with newer appliances, brand-new flooring, and plenty of cabinet and counter space for everyday living and entertaining. The large primary suite includes double closets and an updated en suite bath with vinyl flooring, a spacious vanity, and a private shower and toilet area. Recent updates throughout the condo include fresh paint, updated carpet, lighting fixtures, bathroom improvements, kitchen flooring, appliances, and more, creating a clean and modern feel throughout the home. One of the rare features of this condo is the private basement space, complete with laundry area, washer and dryer included, plus abundant storage space rarely found in condo living. Enjoy peaceful mornings or evenings on the covered walk-out patio overlooking the quiet community setting. Additional conveniences include a covered carport, extra storage, a community clubhouse, and an in-ground pool perfect for summer enjoyment. Located near I-696, Northwestern Highway, shopping, dining, grocery stores, and local parks, this location offers both convenience and accessibility while maintaining a quiet residential atmosphere. An added bonus for homeowners and investors alike: there are no rental restrictions in the community.

16. 2026-05-08
    historical $140,000 1470-char remark

    Show marketing remark (1470 chars)

    Updated and move-in ready main level first floor condo in the heart of Farmington Hills offering over 1,000 square feet of comfortable living space, 1 spacious bedroom, 1 full bath, and 1 half bath. This well-maintained condo features an updated kitchen with newer appliances, brand-new flooring, and plenty of cabinet and counter space for everyday living and entertaining. The large primary suite includes double closets and an updated en suite bath with vinyl flooring, a spacious vanity, and a private shower and toilet area. Recent updates throughout the condo include fresh paint, updated carpet, lighting fixtures, bathroom improvements, kitchen flooring, appliances, and more, creating a clean and modern feel throughout the home. One of the rare features of this condo is the private basement space, complete with laundry area, washer and dryer included, plus abundant storage space rarely found in condo living. Enjoy peaceful mornings or evenings on the covered walk-out patio overlooking the quiet community setting. Additional conveniences include a covered carport, extra storage, a community clubhouse, and an in-ground pool perfect for summer enjoyment. Located near I-696, Northwestern Highway, shopping, dining, grocery stores, and local parks, this location offers both convenience and accessibility while maintaining a quiet residential atmosphere. An added bonus for homeowners and investors alike: there are no rental restrictions in the community.

17. 1991-05-17
    soldstatus $55,900
18. 1988-07-01
    soldstatus $57,000
19. 1979-06-01
    soldstatus $36,300

ⓘ 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: $1,297 · $108/mo
• Projected year-2 tax: $1,726 · $144/mo
• Expected delta: +$430/yr (+$36/mo · 33.1%)

ⓘ 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 ≥97°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: $17,581
• − Mortgage interest: −$7,842
• − Property taxes: −$1,297
• − Insurance: −$700
• − Repairs & maintenance: −$1,406
• − Management: −$1,406
• − HOA: −$2,892
• − Depreciation: −$4,073
• Taxable loss: −$2,036
• Est. tax savings @ 24.0%: +$489
• After-tax cash flow: $679/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

+285.7% since first listed

6 events — show timeline

• 2026-05-09 Listed $140,000 MiRealSource-MiMLS
• 2026-05-09 Listed $140,000 REALCOMP
• 2026-05-08 Coming Soon $140,000 MiRealSource-MiMLS
• 1991-05-17 Sold (Public Records) $55,900 Public Records
• 1988-07-01 Sold (Public Records) $57,000 Public Records
• 1979-06-01 Sold (Public Records) $36,300 Public Records

Property tax history

+5.0%/yr

Latest (2025): $1,297 · +3.1% YoY. Source: county tax records.