6011 Pebble Lane Ct · Farmington Hills, MI 48322

$285,000

2 bd · 2.0 ba · 2,200 sqft · Condo public records · 23 Days on market

Built 1978 $130/sqft · 16% below area Est $341k · 16% under $468/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).

• ARV discount +14.9/15.0
• Cash flow +6.5/30.0
• Schools +4.5/10.0
• Livability +4.0/5.0
• 1% rule +3.0/10.0
• Condition / age +2.5/5.0
• Rent growth +2.4/5.0
• DSCR +0.8/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this West Bloomfield residence located within the gated community of Pebble Creek, offering comfort, functionality, and inviting living spaces throughout. A cozy gas fireplace anchors the spacious living room, which flows seamlessly into the dining area with direct access to a private deck — ideal for effortless entertaining or quiet outdoor relaxation. A versatile den with French doors provides the perfect setting for a home office, library, or additional sitting area. The kitchen features new appliances, updated flooring, and a charming breakfast nook for casual dining. The primary suite is a true retreat, complete with three exceptional closets and a private ensuite bath

Key facts

• Gated community
• Cozy gas fireplace
• Private deck

Tags

• GATED COMMUNITY
• COZY GAS FIREPLACE
• PRIVATE DECK
• VERSATILE DEN
• NEW APPLIANCES
• UPDATED FLOORING

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee; HOA fee covers maintenance of grounds, security, sewer, snow removal, trash, and water; Gated community amenities including pool

Exterior

• Parking: Attached garage with garage door opener; 2 garage spaces
• Security: Gated community
• Utilities: Public water; Public sewer; Cable available; Gas service (for heating and water heater)
• Home design: Condominium (residential); Two levels; Ground-level entry with steps; Brick and wood siding exterior; Asphalt roof
• Construction: Brick and wood siding construction; Asphalt roof; Partial unfinished basement
• Exterior features: Balcony; Exterior lighting; Community pool; Paved road access

Interior

• Kitchen: Built-in electric oven; Electric cooktop; Microwave; Dishwasher; Disposal; Free-standing refrigerator; Vented exhaust fan
• Bedrooms: Total of 9 rooms (bedroom details not itemized)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Exhaust fan; Central air conditioning
• Interior features: High speed internet; Smart thermostat; Gas fireplace in the living room; Partial unfinished basement
• Laundry & utility: Laundry room with washer and dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $285k.

Deal economics

• At list price, monthly cash flow is $-482 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $200k (29.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $227k (20.3% below list).
• Recommended offer: $200k (29.9% below list) — sets the bar for cash-flow.
• Cap rate 4.3% vs local median 3.4% in Farmington Hills — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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.
• West Bloomfield School District (suburban): math 42% / reading 55% proficiency, ranked #83 of 540 in MI (top 15%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents soft (-0.4%/yr); 185 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 0d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 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 23 days — a 2% lower offer ($281k) is reasonable based on typical stale-listing flexibility.
• 4 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 $115k; list at $285k implies a 148% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $199,925 (29.9% 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. Built in 1978 — 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: 0.80% ✗
• Cap rate: 4.27%
• Cash-on-cash: -7.24%
• DSCR: 0.68
• GRM: 10.5

CMA / ARV

• ARV (median comp): $340,870
• List price: $285,000
• Delta: -11.99%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -32.9%
• Equity multiple: -0.04×
• Total profit: $-83,290
• Equity at exit: $42,494

10-year hold

• IRR: -66.3%
• Equity multiple: -0.71×
• Total profit: $-136,850
• Equity at exit: $24,642

Cash invested: $79,800 (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 48322

• Rents YoY: -0.4%
• Active inventory: 185
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $2,272 medium
• Mortgage (P&I): −$1,495
• Tax from tax record: −$195 /mo · $2,342/yr
• Insurance: −$119
• HOA: −$468
• Vacancy / Maint / Mgmt: −$477
• Net cashflow: $-482

Break-even live

Break-even rent $2,882

Max offer price $199,925

Occupancy floor —

Sensitivity live

Price	-10% $-320	-5% $-401	+0% $-482	+5% $-562	+10% $-643
Rent	-10% $-661	-5% $-571	+0% $-482	+5% $-392	+10% $-302
Rate	-1.0pp $-338	-0.5pp $-409	base $-482	+0.5pp $-555	+1.0pp $-631

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: $71,250
• Closing costs: $8,550
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
31200 Hunters Dr Farmington Hills, MI	1.0–3.0	1.0–2.5	1520	$1,834	$1.21	0d	15	0.51mi
7020 Orchard Lake Rd West Bloomfield, MI	1.0–2.0	1.0–2.0	1103	$4,470	$4.05	0d	28	0.69mi
6625 Fireside Ct West Bloomfield Township, MI	2.0	2.0	1450	$2,000	$1.38	25d	1	0.89mi
6322 Aspen Ridge Blvd West Bloomfield, MI	2.0	2.5	2391	$3,500	$1.46	0d	1	1.23mi
5202 Richard Run West Bloomfield, MI	3.0	2.5	1650	$2,500	$1.52	18d	1	1.24mi

HOA detail condo

• Monthly dues: $468 · $5,616/yr
• Likely covers: gassecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 18 events

1. 2026-06-21
   days on market $285,000 Active 23 DOM
2. 2026-06-18
   days on market $285,000 Active 20 DOM
3. 2026-06-17
   days on market $285,000 Active 19 DOM
4. 2026-06-16
   days on market $285,000 Active 18 DOM
5. 2026-06-15
   days on market $285,000 Active 17 DOM
6. 2026-06-13
   days on market $285,000 Active 15 DOM
7. 2026-06-09
   days on market $285,000 Active 11 DOM
8. 2026-06-08
   days on market $285,000 Active 10 DOM
9. 2026-06-07
   days on market $285,000 Active 9 DOM
10. 2026-06-04
    days on market $285,000 Active 6 DOM
11. 2026-06-03
    days on market $285,000 Active 5 DOM
12. 2026-06-02
    days on market $285,000 Active 4 DOM
13. 2026-06-01
    days on market $285,000 Active 3 DOM
14. 2026-05-31
    days on market $285,000 Active 2 DOM
15. 2026-02-27
    listed $300,000 Active 1116-char remark
16. 2026-02-27
    listed $300,000 Active 1112-char remark
17. 1991-03-14
    soldstatus $115,000
18. 1990-02-22
    soldstatus $118,524

ⓘ 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: $2,342 · $195/mo
• Projected year-2 tax: $3,365 · $280/mo
• Expected delta: +$1,024/yr (+$85/mo · 43.7%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 72% 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: $27,264
• − Mortgage interest: −$15,964
• − Property taxes: −$2,342
• − Insurance: −$1,425
• − Repairs & maintenance: −$2,181
• − Management: −$2,181
• − HOA: −$5,616
• − Depreciation: −$8,291
• Taxable loss: −$10,736
• Est. tax savings @ 24.0%: +$2,577
• After-tax cash flow: $-3,202/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: West Bloomfield School District
• NCES district ID: 2635820
• Math proficiency: 42% ▼ -6.00%
• Reading proficiency: 55% ▼ -2.00%
• Median HH income: $89,668
• Composite: 45.28/100
• National rank: #2653
• State rank: #83 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

• County: Oakland County · 1,009,092 people
• City population: 67,612
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 32,885
• Household income: $113,865
• Rent vs Own: 22.6% rent · 77.4% own
• Severe rent burden: 911.0

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: Majority White (64%)
• Race & ethnicity: White 64% Black 20% Asian 10% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Arab 9% Romanian 5% Scotch-Irish 4%
• Foreign-born: 25% · Canada, China
• Languages at home: 71% English-only · Arabic 8% Other Indo-European 5% 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: ▼ -220.52%
• Current HPI: 149.0523
• Rent YoY: ▼ -0.43%
• 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

+140.5% since first listed

8 events — show timeline

• 2026-05-29 Listed $285,000 MiRealSource-MiMLS
• 2026-05-29 Listed $285,000 REALCOMP
• 2026-05-29 Listing Removed — MiRealSource-MiMLS
• 2026-05-29 Listing Removed — REALCOMP
• 2026-02-27 Listed $300,000 MiRealSource-MiMLS
• 2026-02-27 Listed $300,000 REALCOMP
• 1991-03-14 Sold (Public Records) $115,000 Public Records
• 1990-02-22 Sold (Public Records) $118,524 Public Records

Property tax history

+1.3%/yr

Latest (2025): $2,342 · +2.4% YoY. Source: county tax records.