346 N Anderson St · Orion, MI 48362

$254,900

3 bd · 1.0 ba · 1,200 sqft · SingleFamily public records · 1 Days on market

Built 1920 6,534 sqft lot Est $260k · at est.

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Why this score? — see what drove the C 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 +21.6/30.0
• ARV discount +8.5/15.0
• DSCR +6.9/10.0
• 1% rule +5.9/10.0
• Schools +5.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this charming downtown colonial. Walking distance to downtown restaurants and shopping. Corner, double lot with a beautiful pergola and great entertaining space. House has 3 spacious bedrooms, 2 with brand new flooring updated in 2020. New roof from 2015. Kitchen has been completely remodeled with cement counters and huge farm style sink. Recently remodeled laundry room with custom Penny flooring and updated washer and dryer. This house is full of unique character waiting for you to add your personal touch and call it home.

Key facts

• Deck under pergola
• Quartz countertops
• Fenced yard

Tags

• RENOVATED KITCHEN
• QUARTZ COUNTERTOPS
• FENCED YARD
• DECK UNDER PERGOLA
• FIRE-PIT
• FIRST-FLOOR LAUNDRY

Property features AI

Finance

• Other: Property type: Residential; Lot size approx. 0.15 acres (frontage ~58'); Zoning: Residential; Located in the Village of Lake Orion (Hemingways subdivision)

Exterior

• Parking: Detached garage with garage door opener; Electric in garage; Approximately 1.5 garage parking spaces
• Utilities: Public water; Public sanitary sewer; Natural gas heat and gas water heater; Electric service to garage
• Home design: Residential 2-story; Built in 1920; Entry-level kitchen, dining and great room; Below-grade finished area not reported (416 sq ft below grade)
• Construction: Basement and crawl foundation; Aluminum exterior construction; Basement present (mi basement type)
• Exterior features: Aluminum exterior; Deck; Fenced yard; Paved street frontage; Frontage on road; No floodplain

Interior

• Kitchen: Dishwasher; Range/oven; Microwave; Refrigerator
• Bedrooms: Bedroom 1 on upper level (approx. 13 x 11); Bedroom 2 on upper level (approx. 16 x 10); Bedroom 3 on upper level (approx. 9 wide)
• Flooring: Hardwood floors
• Bathrooms: One full bathroom (entry level)
• Heating & cooling: Forced air heating; Central A/C; Ceiling fan(s); Gas water heater
• Interior features: Hardwood floors; Great room; Formal dining room; Eat-in kitchen; First-floor laundry
• Laundry & utility: Washer; Dryer; Laundry room on entry level (approx. 7 x 5)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $255k.

Deal economics

• At list price, monthly cash flow is $389 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $255k).

Location & tenants

• Location reads: area grade C — 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; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 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 $8k 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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 24y ago; this cycle's ask is 13% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $210k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $254,900

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.09% ✓
• Cap rate: 8.13%
• Cash-on-cash: 6.55%
• DSCR: 1.29
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $260,400
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
325 N Broadway St	0.08mi	3/1.0	1,318 (+10%)	1mo	$165,000	$125	79
225 E Shadbolt St	0.16mi	2/1.0 (-1)	1,215 (+1%)	8mo	$315,000	$259	79
126 N North Shore Dr	0.46mi	3/1.5	1,170 (-2%)	4mo	$230,000	$197	69
790 Luna Ct	0.53mi	3/2.0	1,224 (+2%)	0mo	$307,000	$251	67
811 Miller Rd	0.58mi	3/2.0	1,271 (+6%)	0mo	$219,000	$172	59
733 Luna Ct	0.48mi	2/1.5 (-1)	1,128 (-6%)	3mo	$245,000	$217	58
229 W Flint St	0.38mi	3/2.0	1,352 (+13%)	4mo	$285,000	$211	53
749 Mariday St	0.60mi	3/1.5	1,316 (+10%)	3mo	$275,000	$209	51
586 Bagley St	0.55mi	3/1.0	1,036 (-14%)	1mo	$242,500	$234	51
902 Mcclellan St	0.65mi	3/2.5	1,150 (-4%)	13mo	$256,000	$223	46
414 Norland St	0.65mi	3/1.0	1,300 (+8%)	12mo	$265,000	$204	45
243 Reno St	0.47mi	2/1.0 (-1)	1,068 (-11%)	12mo	$240,000	$225	45

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: -6.2%
• Equity multiple: 0.77×
• Total profit: $-16,444
• Equity at exit: $38,006

10-year hold

• IRR: 3.5%
• Equity multiple: 1.25×
• Total profit: $17,868
• Equity at exit: $22,039

Cash invested: $71,372 (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: 7.7×

Monthly cashflow live

• Estimated rent: $2,767 high
• Mortgage (P&I): −$1,337
• Tax from tax record: −$354 /mo · $4,246/yr
• Insurance: −$106
• HOA: −$0
• Vacancy / Maint / Mgmt: −$581
• Net cashflow: $389

Break-even live

Break-even rent $2,274

Max offer price $254,900

Occupancy floor 81%

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: $63,725
• Closing costs: $7,647
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
120 S Broadway St Lake Orion, MI	2.0	2.0	1065	$2,950	$2.77	14d	1	0.32mi
733 Luna Ct Lake Orion, MI	3.0	1.5	1177	$2,695	$2.29	19d	1	0.50mi
784 Porteous Dr Lake Orion, MI	2.0	1.0	875	$1,600	$1.83	43d	1	0.68mi
442 Mystic Cove Ln Lake Orion, MI	2.0–4.0	2.0–3.0	1989	$5,350	$2.69	1d	4	0.74mi
711 Kimberly Lake Orion, MI	1.0–2.0	1.0–1.5	985	$1,149	$1.17	1d	6	1.09mi

Listing history 2 events

1. 2026-06-18
   remarks 699-char remark
2. 2026-06-18
   listed $254,900 Coming Soon 1 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: $4,246 · $354/mo
• Projected year-2 tax: $4,246 · $354/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $33,206
• − Mortgage interest: −$14,278
• − Property taxes: −$4,246
• − Insurance: −$1,274
• − Repairs & maintenance: −$2,656
• − Management: −$2,656
• − Depreciation: −$7,415
• Taxable income: $679
• Est. tax owed @ 24.0%: −$163
• After-tax cash flow: $4,509/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

• Census place: Lake Orion, MI
• 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

+84.8% since first listed

12 events — show timeline

• 2026-06-18 Coming Soon $254,900 MiRealSource-MiMLS
• 2020-11-06 Sold (MLS) $210,000 MiRealSource-MiMLS
• 2020-11-06 Sold (MLS) $210,000 REALCOMP
• 2020-10-06 Contingent — MiRealSource-MiMLS
• 2020-10-06 Contingent — REALCOMP
• 2020-10-02 Price Changed $217,900 MiRealSource-MiMLS
• 2020-10-02 Price Changed $217,900 REALCOMP
• 2020-09-24 Listed $225,000 MiRealSource-MiMLS
• 2020-09-24 Listed $225,000 REALCOMP
• 2002-12-16 Sold (Public Records) $135,000 Public Records
• 2002-10-10 Sold (MLS) $135,000 REALCOMP
• 2002-08-20 Listed $137,900 REALCOMP

Property tax history

+8.2%/yr

Latest (2025): $4,246 · +2.8% YoY. Source: county tax records.