985 Fairledge Ave · Orion, MI 48362

$349,900

3 bd · 1.5 ba · 1,368 sqft · SingleFamily public records · 13 Days on market

Built 1950 0.50 ac lot Est $312k · 12% over $5/mo HOA

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Why this score? — see what drove the F 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 +12.5/30.0
• Schools +5.1/10.0
• DSCR +3.7/10.0
• 1% rule +3.4/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +2.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This reimagined and redefined 3-bedroom, 2-bath lake access ranch has been completely renovated to offer the perfect blend of modern comfort and timeless style. Light, airy, and filled with neutral finishes, the home features brand-new stainless steel appliances, a new roof, and a new electrical panel, making it truly move-in ready. Situated on a spacious half-acre lot, with deeded lake access, you'll enjoy all the benefits of the waterfront living just moments from your doorstep. Spend your days boating, swimming, and enjoying the water, then head just five minutes into downtown to explore local shopping, boutiques, and restaurants. Lake life isn't just a destination—it's a way of living. An expansive 20' x 34' garage with loft space provides plenty of room for your boat, water toys, vehicles, or workshop, while the full basement offers exceptional storage. Thoughtfully updated from top to bottom, this completely renovated, reimagined, and redefined ranch delivers the lifestyle, convenience, and quality today's buyers are looking for.

Key facts

• Half-acre lot
• 20 x 34 garage
• New electrical panel

Tags

• STAINLESS STEEL APPLIANCES
• NEW ROOF
• NEW ELECTRICAL PANEL
• HALF-ACRE LOT
• 20 X 34 GARAGE
• LOFT SPACE

Property features AI

Finance

• Other: Above-grade finished area approximately 1,382; Below-grade finished area approximately 720
• HOA & community: Homeowners association with an annual fee of $60 (about $5/month)

Exterior

• Parking: Attached 2-car garage
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence; One story
• Construction: Vinyl siding
• Exterior features: Lake privileges; 120 x 180 lot dimensions; Lake Orion nearby

Interior

• Bedrooms: Total of 5 rooms (includes bedrooms and living areas)
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $-49 ($-591/yr) — negative.
• To cash-flow at today's rent, offer at most $341k (2.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $292k (16.5% below list).
• Recommended offer: $292k (16.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• Lake Orion Community Schools (suburban): math 49% / reading 64% proficiency, ranked #45 of 540 in MI (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: 88 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 16 sale attempts since 29y 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 $215k; list at $350k implies a 63% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $292,302 (16.5% 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 1950 — 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. 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 for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.84% ✗
• Cap rate: 6.12%
• Cash-on-cash: -0.60%
• DSCR: 0.97
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $311,904
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
985 Fairledge St	0.00mi	3/1.5	1,382 (+1%)	5mo	$215,000	$156	94
816 Vernita Dr	0.52mi	3/2.0	1,390 (+2%)	6mo	$320,000	$230	66
708 Birmingham St	0.36mi	4/1.0 (+1)	1,380 (+1%)	10mo	$315,000	$228	66
694 Ferndale Ave	0.35mi	3/1.0	1,286 (-6%)	7mo	$258,100	$201	66
845 Harry Paul Dr	0.58mi	3/1.5	1,402 (+2%)	5mo	$250,000	$178	65
390 Oakland St	0.46mi	3/1.0	1,416 (+4%)	13mo	$312,000	$220	60
654 Alan Dr	0.59mi	3/1.5	1,448 (+6%)	5mo	$275,000	$190	59
561 Bellevue Ave	0.48mi	3/2.0	1,510 (+10%)	1mo	$630,000	$417	57
980 Sherry Dr	0.37mi	3/1.5	1,200 (-12%)	7mo	$304,000	$253	56
567 Bellevue Ave	0.48mi	2/2.0 (-1)	1,504 (+10%)	0mo	$502,000	$334	54
561 Bellevue Ave	0.48mi	3/2.0	1,510 (+10%)	10mo	$610,000	$404	50
802 Vernita Dr	0.52mi	3/1.0	1,471 (+8%)	15mo	$188,000	$128	49

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: -17.3%
• Equity multiple: 0.39×
• Total profit: $-59,829
• Equity at exit: $52,171

10-year hold

• IRR: -9.3%
• Equity multiple: 0.43×
• Total profit: $-56,108
• Equity at exit: $30,253

Cash invested: $97,972 (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 48362

• Active inventory: 88
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $2,923 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$373 /mo · $4,473/yr
• Insurance: −$146
• HOA: −$5
• Vacancy / Maint / Mgmt: −$614
• Net cashflow: $-49

Break-even live

Break-even rent $2,985

Max offer price $341,197

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
711 Kimberly Lake Orion, MI	1.0–2.0	1.0–1.5	985	$1,149	$1.17	1d	6	0.79mi
442 Mystic Cove Ln Lake Orion, MI	2.0–4.0	2.0–3.0	1989	$5,350	$2.69	1d	4	1.04mi
120 S Broadway St Lake Orion, MI	2.0	2.0	1065	$2,950	$2.77	14d	1	1.33mi

HOA detail

• Monthly dues: $5 · $60/yr
• Likely covers: waterelectric

Listing history 9 events

1. 2026-06-18
   days on market $349,900 Active 13 DOM
2. 2026-06-17
   days on market $349,900 Active 12 DOM
3. 2026-06-16
   days on market $349,900 Active 11 DOM
4. 2026-06-15
   days on market $349,900 Active 10 DOM
5. 2026-06-13
   days on market $349,900 Active 8 DOM
6. 2026-06-09
   days on market $349,900 Active 4 DOM
7. 2026-06-08
   days on market $349,900 Active 3 DOM
8. 2026-06-07
   remarks 699-char remark
9. 2026-06-07
   listed $349,900 Active 2 DOM

ⓘ 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: $4,473 · $373/mo
• Projected year-2 tax: $4,931 · $411/mo
• Expected delta: +$458/yr (+$38/mo · 10.2%)

ⓘ 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 ≥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: $35,076
• − Mortgage interest: −$19,600
• − Property taxes: −$4,473
• − Insurance: −$1,750
• − Repairs & maintenance: −$2,806
• − Management: −$2,806
• − HOA: −$60
• − Depreciation: −$10,179
• Taxable loss: −$6,597
• Est. tax savings @ 24.0%: +$1,583
• After-tax cash flow: $992/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: Lake Orion Community Schools
• NCES district ID: 2620730
• Math proficiency: 49% ▼ -10.00%
• Reading proficiency: 64% ▼ -10.00%
• Median HH income: $82,396
• Composite: 51.21/100
• National rank: #1755
• State rank: #45 of 540 in MI

Livability — Orion

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

Census & demographics

• City population: 10,401
• Population (ZIP): 14,746

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 (88%)
• Race & ethnicity: White 88% Two or more races 5% Hispanic / Latino 4% Black 2% Asian 2%
• Common ancestry: Romanian 11% Lithuanian 5% Slovak 3%
• Foreign-born: 6% · Canada, China, Dominican Republic
• Languages at home: 95% English-only · Spanish 1% Chinese 1% German/W. Germanic 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: ▼ -307.96%
• Current HPI: 182.3653
• 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

+337.9% since first listed

38 events — show timeline

• 2026-06-05 Listed $349,900 MiRealSource-MiMLS
• 2026-06-05 Listed $349,900 REALCOMP
• 2026-01-09 Sold (MLS) $215,000 MiRealSource-MiMLS
• 2026-01-09 Sold (MLS) $215,000 REALCOMP
• 2025-12-09 Pending — MiRealSource-MiMLS
• 2025-12-09 Pending — REALCOMP
• 2025-12-04 Relisted — MiRealSource-MiMLS
• 2025-12-04 Relisted — REALCOMP
• 2025-11-30 Pending — MiRealSource-MiMLS
• 2025-11-30 Pending — REALCOMP
• 2025-11-26 Relisted — MiRealSource-MiMLS
• 2025-11-26 Relisted — REALCOMP
• 2025-11-05 Pending — MiRealSource-MiMLS
• 2025-11-05 Pending — REALCOMP
• 2025-10-24 Listed $218,000 MiRealSource-MiMLS
• 2025-10-24 Listed $218,000 REALCOMP
• 2022-09-22 Sold (Public Records) $199,900 Public Records
• 2022-08-29 Sold (MLS) $199,900 MiRealSource-MiMLS
• 2022-08-29 Sold (MLS) $199,900 REALCOMP
• 2022-08-26 Pending — REALCOMP
• 2022-08-26 Listing Removed — MiRealSource-MiMLS
• 2022-08-26 Listed $199,900 MiRealSource-MiMLS
• 2022-08-26 Listed $199,900 REALCOMP
• 2011-05-31 Sold (MLS) $41,000 MiRealSource-MiMLS
• 2011-05-31 Sold (MLS) $41,000 REALCOMP
• 2011-05-30 Listing Removed — MiRealSource-MiMLS
• 2011-05-30 Listed $45,900 MiRealSource-MiMLS
• 2011-05-30 Listed $45,900 REALCOMP
• 2011-05-29 Listing Removed — REALCOMP
• 2011-05-29 Listing Removed — MiRealSource-MiMLS
• 2011-02-28 Listed $45,900 REALCOMP
• 2011-02-28 Listed $45,900 MiRealSource-MiMLS
• 1998-07-29 Sold (Public Records) $121,500 Public Records
• 1998-07-02 Sold (MLS) $121,500 REALCOMP
• 1998-02-25 Listed $124,900 REALCOMP
• 1997-06-11 Sold (Public Records) $79,900 Public Records
• 1997-04-28 Sold (MLS) $79,900 REALCOMP
• 1997-03-24 Listed $79,900 REALCOMP

Property tax history

+6.5%/yr

Latest (2025): $4,473 · +1.9% YoY. Source: county tax records.