29850 W 12 Mile Rd #512 · Farmington Hills, MI 48334

$140,000

1 bd · 1.0 ba · 900 sqft · Condo public records · 25 Days on market

Built 1981 $293/mo HOA · 21% 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 +12.3/30.0
• ARV discount +7.5/15.0
• 1% rule +5.1/10.0
• Schools +4.6/10.0
• Livability +4.0/5.0
• DSCR +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

DONT MISS YOUR INVESTMENT OPPORTUNITY . .. Spacious condo with walk-in closet , balcony facing to courtyard , laundry inside unit and assigned carport parking. Condo needs remodeling and the price effects condition of the PROPERTY . This low - maintenance condo comes with community amenities, including a pool and professional ground maintenance Great location and quiet Neighborhood. Close to all shopping and Highway .

Key facts

• $293 HOA
• Community pool
• Built 1981

Property features AI

Finance

• Other: Pet restrictions include breed restrictions and a limit on number of pets
• HOA & community: Monthly association fee of $290; Association fee covers lawn maintenance, snow removal, trash removal, and water/sewer; Laundry facility available; Association phone available

Exterior

• Parking: Carport
• Utilities: Public water; Natural gas water heater; Natural gas for heating; Central air conditioning; Forced air heating
• Home design: Condominium; Two-story building; Unit number 512; Built in 1981; Accessible common area and accessible entrance; Subdivision: Inverrary Condo
• Construction: Basement foundation
• Exterior features: Brick and wood exterior; Inground pool; Tennis court(s); Terrace; Paved street

Interior

• Kitchen: Kitchen on entry level with ceramic floor (approx. 8 x 8); Dishwasher; Range/Oven; Refrigerator
• Bedrooms: Primary bedroom on entry level with wood flooring (15 x 13)
• Flooring: Wood flooring in living room, dining room and bedroom; Ceramic flooring in kitchen and bathroom; Laminate flooring in laundry room
• Bathrooms: One full bathroom on entry level with ceramic flooring (approx. 8 x 7)
• Heating & cooling: Forced air heating; Central A/C; Natural gas heat/fuel
• Interior features: Total of 6 rooms; Common, unfinished basement
• Laundry & utility: Laundry room on entry level with laminate flooring (approx. 8 x 5); Washer; Dryer; Gas water heater

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 $-27 ($-321/yr) — negative.
• To cash-flow at today's rent, offer at most $135k (3.4% below list).
• Meets the 1% rule at list price ($1k rent vs $140k).
• Recommended offer: $135k (3.4% below list) — sets the bar for cash-flow.
• Cap rate 6.1% 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; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 25 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 30y ago; this cycle's ask is 27% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $85k; list at $140k implies a 65% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $135,278 (3.4% 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: 1.01% ✓
• Cap rate: 6.06%
• Cash-on-cash: -0.82%
• DSCR: 0.96
• GRM: 8.2

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: -17.5%
• Equity multiple: 0.38×
• Total profit: $-24,256
• Equity at exit: $20,874

10-year hold

• IRR: -9.4%
• Equity multiple: 0.42×
• Total profit: $-22,775
• 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: 93
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,420 high
• Mortgage (P&I): −$734
• Tax from tax record: −$63 /mo · $754/yr
• Insurance: −$58
• HOA: −$293
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $-27

Break-even live

Break-even rent $1,454

Max offer price $135,278

Occupancy floor 97%

Sensitivity live

Price	-10% $53	-5% $13	+0% $-27	+5% $-66	+10% $-106
Rent	-10% $-139	-5% $-83	+0% $-27	+5% $29	+10% $85
Rate	-1.0pp $44	-0.5pp $9	base $-27	+0.5pp $-63	+1.0pp $-100

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 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
27991 Rollcrest Rd #1 Farmington Hills, MI	2.0	1.0	922	$1,600	$1.74	45d	1	0.15mi
30250 W 12 Mile Rd Unit B102 Farmington Hills, MI	1.0	1.0	842	$1,120	$1.33	26d	1	0.30mi
27517 Gateway Dr E Farmington Hills, MI	1.0–2.0	1.0–2.0	987	$1,439	$1.46	19d	80	0.30mi
27600 Cordoba Dr Farmington Hills, MI	1.0–2.0	1.0	764	$1,338	$1.75	1d	18	0.35mi
31993 W 12 Mile Rd Farmington Hills, MI	1.0	1.0	901	$1,100	$1.22	5d	1	1.05mi
32005 W 12 Mile Rd #203 Farmington, MI	1.0	1.0	876	$1,250	$1.43	46d	1	1.06mi
32005 W 12 Mile Rd Farmington Hills, MI	1.0	1.0	731	$1,224	$1.68	14d	2	1.07mi

HOA detail condo

• Monthly dues: $293 · $3,516/yr
• Likely covers: pool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 41 events

1. 2026-06-21
   days on market $140,000 Active 25 DOM
2. 2026-06-18
   days on market $140,000 Active 22 DOM
3. 2026-06-17
   days on market $140,000 Active 21 DOM
4. 2026-06-16
   days on market $140,000 Active 20 DOM
5. 2026-06-15
   days on market $140,000 Active 19 DOM
6. 2026-06-13
   days on market $140,000 Active 17 DOM
7. 2026-06-13
   days on market $140,000 Active 16 DOM
8. 2026-06-09
   days on market $140,000 Active 13 DOM
9. 2026-06-08
   days on market $140,000 Active 12 DOM
10. 2026-06-07
    days on market $140,000 Active 11 DOM
11. 2026-06-04
    days on market $140,000 Active 8 DOM
12. 2026-06-02
    days on market $140,000 Active 6 DOM
13. 2026-06-01
    days on market $140,000 Active 5 DOM
14. 2026-05-31
    days on market $140,000 Active 4 DOM
15. 2026-05-26
    historical $140,000
16. 2026-01-07
    soldstatus $85,000
17. 2025-12-19
    soldstatus $85,000 Closed 421-char remark

    Show marketing remark (421 chars)

    DONT MISS YOUR INVESTMENT OPPORTUNITY . .. Spacious condo with walk-in closet , balcony facing to courtyard , laundry inside unit and assigned carport parking. Condo needs remodeling and the price effects condition of the PROPERTY . This low - maintenance condo comes with community amenities, including a pool and professional ground maintenance Great location and quiet Neighborhood. Close to all shopping and Highway .

18. 2025-12-19
    soldstatus $85,000 Closed

    Show marketing remark (421 chars)

    DONT MISS YOUR INVESTMENT OPPORTUNITY . .. Spacious condo with walk-in closet , balcony facing to courtyard , laundry inside unit and assigned carport parking. Condo needs remodeling and the price effects condition of the PROPERTY . This low - maintenance condo comes with community amenities, including a pool and professional ground maintenance Great location and quiet Neighborhood. Close to all shopping and Highway .

19. 2025-12-08
    status Pending

    Show marketing remark (421 chars)

    DONT MISS YOUR INVESTMENT OPPORTUNITY . .. Spacious condo with walk-in closet , balcony facing to courtyard , laundry inside unit and assigned carport parking. Condo needs remodeling and the price effects condition of the PROPERTY . This low - maintenance condo comes with community amenities, including a pool and professional ground maintenance Great location and quiet Neighborhood. Close to all shopping and Highway .

20. 2025-12-08
    status Pending 421-char remark

    Show marketing remark (421 chars)

    DONT MISS YOUR INVESTMENT OPPORTUNITY . .. Spacious condo with walk-in closet , balcony facing to courtyard , laundry inside unit and assigned carport parking. Condo needs remodeling and the price effects condition of the PROPERTY . This low - maintenance condo comes with community amenities, including a pool and professional ground maintenance Great location and quiet Neighborhood. Close to all shopping and Highway .

21. 2025-12-06
    price $85,000
22. 2025-12-05
    historical Accepting Backup Offers

    Show marketing remark (421 chars)

    DONT MISS YOUR INVESTMENT OPPORTUNITY . .. Spacious condo with walk-in closet , balcony facing to courtyard , laundry inside unit and assigned carport parking. Condo needs remodeling and the price effects condition of the PROPERTY . This low - maintenance condo comes with community amenities, including a pool and professional ground maintenance Great location and quiet Neighborhood. Close to all shopping and Highway .

23. 2025-12-05
    historical Active Under Contract 421-char remark

    Show marketing remark (421 chars)

    DONT MISS YOUR INVESTMENT OPPORTUNITY . .. Spacious condo with walk-in closet , balcony facing to courtyard , laundry inside unit and assigned carport parking. Condo needs remodeling and the price effects condition of the PROPERTY . This low - maintenance condo comes with community amenities, including a pool and professional ground maintenance Great location and quiet Neighborhood. Close to all shopping and Highway .

24. 2025-12-05
    price $85,000 421-char remark

    Show marketing remark (421 chars)

    DONT MISS YOUR INVESTMENT OPPORTUNITY . .. Spacious condo with walk-in closet , balcony facing to courtyard , laundry inside unit and assigned carport parking. Condo needs remodeling and the price effects condition of the PROPERTY . This low - maintenance condo comes with community amenities, including a pool and professional ground maintenance Great location and quiet Neighborhood. Close to all shopping and Highway .

25. 2025-11-17
    price $89,913
26. 2025-11-16
    price $89,913 421-char remark

    Show marketing remark (421 chars)

    DONT MISS YOUR INVESTMENT OPPORTUNITY . .. Spacious condo with walk-in closet , balcony facing to courtyard , laundry inside unit and assigned carport parking. Condo needs remodeling and the price effects condition of the PROPERTY . This low - maintenance condo comes with community amenities, including a pool and professional ground maintenance Great location and quiet Neighborhood. Close to all shopping and Highway .

27. 2025-10-09
    price $94,900
28. 2025-10-08
    price $94,900 421-char remark

    Show marketing remark (421 chars)

    DONT MISS YOUR INVESTMENT OPPORTUNITY . .. Spacious condo with walk-in closet , balcony facing to courtyard , laundry inside unit and assigned carport parking. Condo needs remodeling and the price effects condition of the PROPERTY . This low - maintenance condo comes with community amenities, including a pool and professional ground maintenance Great location and quiet Neighborhood. Close to all shopping and Highway .

29. 2025-09-11
    price $94,999

    Show marketing remark (421 chars)

    DONT MISS YOUR INVESTMENT OPPORTUNITY . .. Spacious condo with walk-in closet , balcony facing to courtyard , laundry inside unit and assigned carport parking. Condo needs remodeling and the price effects condition of the PROPERTY . This low - maintenance condo comes with community amenities, including a pool and professional ground maintenance Great location and quiet Neighborhood. Close to all shopping and Highway .

30. 2025-09-11
    price $94,999 421-char remark

    Show marketing remark (421 chars)

    DONT MISS YOUR INVESTMENT OPPORTUNITY . .. Spacious condo with walk-in closet , balcony facing to courtyard , laundry inside unit and assigned carport parking. Condo needs remodeling and the price effects condition of the PROPERTY . This low - maintenance condo comes with community amenities, including a pool and professional ground maintenance Great location and quiet Neighborhood. Close to all shopping and Highway .

31. 2025-08-30
    listed $109,999 Active 421-char remark

    Show marketing remark (421 chars)

    DONT MISS YOUR INVESTMENT OPPORTUNITY . .. Spacious condo with walk-in closet , balcony facing to courtyard , laundry inside unit and assigned carport parking. Condo needs remodeling and the price effects condition of the PROPERTY . This low - maintenance condo comes with community amenities, including a pool and professional ground maintenance Great location and quiet Neighborhood. Close to all shopping and Highway .

32. 2025-08-30
    listed $109,999 Active

    Show marketing remark (421 chars)

    DONT MISS YOUR INVESTMENT OPPORTUNITY . .. Spacious condo with walk-in closet , balcony facing to courtyard , laundry inside unit and assigned carport parking. Condo needs remodeling and the price effects condition of the PROPERTY . This low - maintenance condo comes with community amenities, including a pool and professional ground maintenance Great location and quiet Neighborhood. Close to all shopping and Highway .

33. 1999-04-30
    soldstatus $66,500
34. 1999-03-10
    soldstatus $66,500
35. 1999-01-04
    listed $70,900
36. 1996-07-22
    soldstatus $52,500
37. 1996-07-15
    soldstatus $52,500
38. 1996-04-08
    listed $54,900
39. 1992-06-23
    soldstatus $47,900
40. 1988-10-01
    soldstatus $48,500
41. 1981-06-01
    soldstatus $51,900

ⓘ 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: $754 · $63/mo
• Projected year-2 tax: $1,455 · $121/mo
• Expected delta: +$701/yr (+$58/mo · 92.9%)

ⓘ 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 3/10 Moderate 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: $17,037
• − Mortgage interest: −$7,842
• − Property taxes: −$754
• − Insurance: −$700
• − Repairs & maintenance: −$1,363
• − Management: −$1,363
• − HOA: −$3,516
• − Depreciation: −$4,073
• Taxable loss: −$2,574
• Est. tax savings @ 24.0%: +$618
• After-tax cash flow: $297/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

+169.7% since first listed

27 events — show timeline

• 2026-05-26 Coming Soon $140,000 MiRealSource-MiMLS
• 2026-01-07 Sold (Public Records) $85,000 Public Records
• 2025-12-19 Sold (MLS) $85,000 MiRealSource-MiMLS
• 2025-12-19 Sold (MLS) $85,000 REALCOMP
• 2025-12-08 Pending — MiRealSource-MiMLS
• 2025-12-08 Pending — REALCOMP
• 2025-12-06 Price Changed $85,000 MiRealSource-MiMLS
• 2025-12-05 Contingent — MiRealSource-MiMLS
• 2025-12-05 Contingent — REALCOMP
• 2025-12-05 Price Changed $85,000 REALCOMP
• 2025-11-17 Price Changed $89,913 MiRealSource-MiMLS
• 2025-11-16 Price Changed $89,913 REALCOMP
• 2025-10-09 Price Changed $94,900 MiRealSource-MiMLS
• 2025-10-08 Price Changed $94,900 REALCOMP
• 2025-09-11 Price Changed $94,999 MiRealSource-MiMLS
• 2025-09-11 Price Changed $94,999 REALCOMP
• 2025-08-30 Listed $109,999 REALCOMP
• 2025-08-30 Listed $109,999 MiRealSource-MiMLS
• 1999-04-30 Sold (Public Records) $66,500 Public Records
• 1999-03-10 Sold (MLS) $66,500 REALCOMP
• 1999-01-04 Listed $70,900 REALCOMP
• 1996-07-22 Sold (Public Records) $52,500 Public Records
• 1996-07-15 Sold (MLS) $52,500 REALCOMP
• 1996-04-08 Listed $54,900 REALCOMP
• 1992-06-23 Sold (Public Records) $47,900 Public Records
• 1988-10-01 Sold (Public Records) $48,500 Public Records
• 1981-06-01 Sold (Public Records) $51,900 Public Records

Property tax history

+2.5%/yr

Latest (2025): $754 · +2.8% YoY. Source: county tax records.