7736 Lake Ridge Dr · Waterford, MI 48327

$180,000

2 bd · 1.5 ba · 990 sqft · Condo · 24 Days on market

Built 1988 Good condition $292/mo HOA · 15% 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 +12.1/30.0
• ARV discount +7.5/15.0
• 1% rule +5.5/10.0
• Condition / age +3.8/5.0
• DSCR +3.6/10.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Calling all fun-seekers and comfort connoisseurs! Get ready to fall head over heels for this ready-to-move-in condominium at 7736 Lake Ridge DR in Waterford Built in 1988, this inviting home isn't just a place to live, it's a perfect condo for your best life, promising a delightful blend of playful charm and easy living. Step into the kitchen and prepare to be charmed! With its sleek stone counters, whipping up a culinary masterpiece (or just a really good sandwich) becomes an absolute joy. The living room is where the magic truly happens. Imagine cozy evenings curled up by the crackling fireplace, sharing stories and laughter. It's the perfect spot to unwind after a long day or host a lively game night with friends. With two bedrooms and two bathrooms, there's plenty of space for everyone to spread out and relax. The basement offers a fantastic bonus area for hobbies, storage, or perhaps even a secret hideaway. The attached garage gives peace of mind and security when coming from a long day. And when the sun calls, step out onto your private patio – ideal for morning coffee, evening cocktails, or simply soaking up some fresh air. Why just dream about an inviting home when you can live in one? Come see this playful pad before it vanishes!

Key facts

• $292 HOA
• Garage
• Built 1988

Property features AI

Finance

• Other: Located in the Lake Ridge subdivision
• HOA & community: Homeowners association with a $292 monthly fee; HOA covers grounds and structure maintenance, sewer, water, and snow removal

Exterior

• Parking: Attached garage with 1 parking space
• Utilities: Public water; Public sewer
• Home design: Condominium; Two levels; Ground-level entry
• Construction: Aluminum siding; Slab foundation; Built above grade finished area of 990
• Exterior features: Front porch; Paved road access; Pets allowed: cats and dogs

Interior

• Bathrooms: One full bathroom; One half bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Unfinished basement; Total of 3 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $180k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-41 ($-493/yr) — negative.
• To cash-flow at today's rent, offer at most $174k (3.3% below list).
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $174k (3.3% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• Waterford School District (suburban): math 26% / reading 42% proficiency, ranked #285 of 540 in MI (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 99 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 2d on market — plan ~1-2 weeks tenant-placement turnaround); 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent runs 30% of the median local income ($75k/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 $1k of loan paydown is wiped out by about $5k 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 24 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 24y 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 $128k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $174,061 (3.3% 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. 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?
6. 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.
7. 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.
8. 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: 6.02%
• Cash-on-cash: -0.98%
• DSCR: 0.96
• GRM: 7.9

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: -17.8%
• Equity multiple: 0.37×
• Total profit: $-31,574
• Equity at exit: $26,839

10-year hold

• IRR: -9.6%
• Equity multiple: 0.40×
• Total profit: $-30,015
• Equity at exit: $15,563

Cash invested: $50,400 (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 48327

• Active inventory: 99
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,892 medium
• Mortgage (P&I): −$944
• Tax est. 1.5%: −$225 /mo · $2,700/yr
• Insurance: −$75
• HOA: −$292
• Vacancy / Maint / Mgmt: −$397
• Net cashflow: $-41

Break-even live

Break-even rent $1,944

Max offer price $174,061

Occupancy floor 97%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
8020 Wadi White Lake, MI	2.0	2.0	1352	$2,512	$1.86	2d	16	0.41mi
7035 Round Hill Dr Waterford Twp, MI	1.0–2.0	1.0–1.5	830	$1,389	$1.67	2d	8	0.71mi
1340 Briarwood Dr Waterford Twp, MI	1.0–2.0	1.0–1.5	925	$1,499	$1.62	2d	5	1.13mi

HOA detail condo

• Monthly dues: $292 · $3,504/yr
• Likely covers: watersecurity
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 29 events

1. 2026-06-18
   days on market $180,000 Active 24 DOM
2. 2026-06-17
   days on market $180,000 Active 23 DOM
3. 2026-06-16
   days on market $180,000 Active 22 DOM
4. 2026-06-15
   days on market $180,000 Active 21 DOM
5. 2026-06-13
   days on market $180,000 Active 19 DOM
6. 2026-06-09
   days on market $180,000 Active 15 DOM
7. 2026-06-08
   days on market $180,000 Active 14 DOM
8. 2026-06-07
   days on market $180,000 Active 13 DOM
9. 2026-06-04
   days on market $180,000 Active 10 DOM
10. 2026-06-03
    days on market $180,000 Active 9 DOM
11. 2026-06-02
    days on market $180,000 Active 8 DOM
12. 2026-06-01
    days on market $180,000 Active 7 DOM
13. 2026-05-31
    days on market $180,000 Active 6 DOM
14. 2026-05-26
    listed $180,000 Active 1277-char remark

    Show marketing remark (1277 chars)

    Calling all fun-seekers and comfort connoisseurs! Get ready to fall head over heels for this ready-to-move-in condominium at 7736 Lake Ridge DR in Waterford Built in 1988, this inviting home isn't just a place to live, it's a perfect condo for your best life, promising a delightful blend of playful charm and easy living. Step into the kitchen and prepare to be charmed! With its sleek stone counters, whipping up a culinary masterpiece (or just a really good sandwich) becomes an absolute joy. The living room is where the magic truly happens. Imagine cozy evenings curled up by the crackling fireplace, sharing stories and laughter. It's the perfect spot to unwind after a long day or host a lively game night with friends. With two bedrooms and two bathrooms, there's plenty of space for everyone to spread out and relax. The basement offers a fantastic bonus area for hobbies, storage, or perhaps even a secret hideaway. The attached garage gives peace of mind and security when coming from a long day. And when the sun calls, step out onto your private patio – ideal for morning coffee, evening cocktails, or simply soaking up some fresh air. Why just dream about an inviting home when you can live in one? Come see this playful pad before it vanishes!

15. 2026-05-26
    listed $180,000 Active

    Show marketing remark (1277 chars)

    Calling all fun-seekers and comfort connoisseurs! Get ready to fall head over heels for this ready-to-move-in condominium at 7736 Lake Ridge DR in Waterford Built in 1988, this inviting home isn't just a place to live, it's a perfect condo for your best life, promising a delightful blend of playful charm and easy living. Step into the kitchen and prepare to be charmed! With its sleek stone counters, whipping up a culinary masterpiece (or just a really good sandwich) becomes an absolute joy. The living room is where the magic truly happens. Imagine cozy evenings curled up by the crackling fireplace, sharing stories and laughter. It's the perfect spot to unwind after a long day or host a lively game night with friends. With two bedrooms and two bathrooms, there's plenty of space for everyone to spread out and relax. The basement offers a fantastic bonus area for hobbies, storage, or perhaps even a secret hideaway. The attached garage gives peace of mind and security when coming from a long day. And when the sun calls, step out onto your private patio – ideal for morning coffee, evening cocktails, or simply soaking up some fresh air. Why just dream about an inviting home when you can live in one? Come see this playful pad before it vanishes!

16. 2026-05-25
    historical $180,000 1277-char remark

    Show marketing remark (1277 chars)

    Calling all fun-seekers and comfort connoisseurs! Get ready to fall head over heels for this ready-to-move-in condominium at 7736 Lake Ridge DR in Waterford Built in 1988, this inviting home isn't just a place to live, it's a perfect condo for your best life, promising a delightful blend of playful charm and easy living. Step into the kitchen and prepare to be charmed! With its sleek stone counters, whipping up a culinary masterpiece (or just a really good sandwich) becomes an absolute joy. The living room is where the magic truly happens. Imagine cozy evenings curled up by the crackling fireplace, sharing stories and laughter. It's the perfect spot to unwind after a long day or host a lively game night with friends. With two bedrooms and two bathrooms, there's plenty of space for everyone to spread out and relax. The basement offers a fantastic bonus area for hobbies, storage, or perhaps even a secret hideaway. The attached garage gives peace of mind and security when coming from a long day. And when the sun calls, step out onto your private patio – ideal for morning coffee, evening cocktails, or simply soaking up some fresh air. Why just dream about an inviting home when you can live in one? Come see this playful pad before it vanishes!

17. 2020-11-25
    soldstatus $128,500 Sold 695-char remark

    Show marketing remark (695 chars)

    This condo features all new carpeting and is freshly painted throughout and has an excellent floor plan. The spacious living room is open to the dining room with a doorwall leading out to the private deck area. The large kitchen includes all the appliances. The master features a huge walk-in closet. Conveniently attached one car garage with direct access to the condo. The full basement has tall ceilings and a large storage area. Union Lake Golf Course, Edgewood Country Club, Bay Pointe Golf Club and Dodge Park are all less than 5 miles away. This condo also features a new water heater (2020), as well as updated bathrooms and kitchen cabinets. Dues include water, trash, and snow removal.

18. 2020-10-04
    status Pending 695-char remark

    Show marketing remark (695 chars)

    This condo features all new carpeting and is freshly painted throughout and has an excellent floor plan. The spacious living room is open to the dining room with a doorwall leading out to the private deck area. The large kitchen includes all the appliances. The master features a huge walk-in closet. Conveniently attached one car garage with direct access to the condo. The full basement has tall ceilings and a large storage area. Union Lake Golf Course, Edgewood Country Club, Bay Pointe Golf Club and Dodge Park are all less than 5 miles away. This condo also features a new water heater (2020), as well as updated bathrooms and kitchen cabinets. Dues include water, trash, and snow removal.

19. 2020-09-27
    listed $130,000 Active 695-char remark

    Show marketing remark (695 chars)

    This condo features all new carpeting and is freshly painted throughout and has an excellent floor plan. The spacious living room is open to the dining room with a doorwall leading out to the private deck area. The large kitchen includes all the appliances. The master features a huge walk-in closet. Conveniently attached one car garage with direct access to the condo. The full basement has tall ceilings and a large storage area. Union Lake Golf Course, Edgewood Country Club, Bay Pointe Golf Club and Dodge Park are all less than 5 miles away. This condo also features a new water heater (2020), as well as updated bathrooms and kitchen cabinets. Dues include water, trash, and snow removal.

20. 2019-04-18
    soldstatus $118,000 Sold
21. 2019-02-18
    status Pending
22. 2019-02-01
    listed $118,000 Active
23. 2015-11-05
    historical
24. 2015-11-05
    historical
25. 2015-10-06
    listed $120,000 Active
26. 2015-10-06
    listed $120,000
27. 2003-04-10
    soldstatus $118,000
28. 2003-01-04
    historical
29. 2002-11-04
    listed $119,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 ≥95°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: $22,707
• − Mortgage interest: −$10,083
• − Property taxes: −$2,700
• − Insurance: −$900
• − Repairs & maintenance: −$1,817
• − Management: −$1,817
• − HOA: −$3,504
• − Depreciation: −$5,236
• Taxable loss: −$3,349
• Est. tax savings @ 24.0%: +$804
• After-tax cash flow: $311/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This well-maintained and updated condo is ready to move in and offers a great living space with a good condition score.

Value-add opportunities

• Resale Paint exterior — Enhances curb appeal
• Rental Clean gutters — Keeps property in good condition

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior — Enhances curb appeal ↑
• Rental Clean gutters — Keeps property in good condition ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Waterford School District
• NCES district ID: 2635310
• Math proficiency: 26% ▼ -5.00%
• Reading proficiency: 42% ▼ -1.00%
• Median HH income: $55,581
• Composite: 29.99/100
• National rank: #6364
• State rank: #285 of 540 in MI

Livability — Waterford

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Oakland County · 1,009,092 people
• City population: 70,153
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 20,960
• Household income: $74,788
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 574.0

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: Predominantly White (81%)
• Race & ethnicity: White 81% Two or more races 7% Hispanic / Latino 6% Black 6% Asian 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 11% Subsaharan African 5% Slovak 4%
• Foreign-born: 7% · Canada
• Languages at home: 90% English-only · Russian/Polish/Slavic 4% Spanish 2% Other Asian/Pacific 1%

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: ▼ -226.28%
• Current HPI: 201.2139
• 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

+50.1% since first listed

16 events — show timeline

• 2026-05-26 Listed $180,000 MiRealSource-MiMLS
• 2026-05-26 Listed $180,000 REALCOMP
• 2026-05-25 Coming Soon $180,000 MiRealSource-MiMLS
• 2020-11-25 Sold (MLS) $128,500 REALCOMP
• 2020-10-04 Pending — REALCOMP
• 2020-09-27 Listed $130,000 REALCOMP
• 2019-04-18 Sold (MLS) $118,000 REALCOMP
• 2019-02-18 Pending — REALCOMP
• 2019-02-01 Listed $118,000 REALCOMP
• 2015-11-05 Listing Removed — REALCOMP
• 2015-11-05 Listing Removed — MiRealSource-MiMLS
• 2015-10-06 Listed $120,000 REALCOMP
• 2015-10-06 Listed $120,000 MiRealSource-MiMLS
• 2003-04-10 Sold (MLS) $118,000 MiRealSource-MiMLS
• 2003-01-04 Listing Removed — MiRealSource-MiMLS
• 2002-11-04 Listed $119,900 MiRealSource-MiMLS