11359 Lake Dr · Lake Fenton, MI 48430

$49,900

3 bd · 2.0 ba · 1,092 sqft · SingleFamily · 175 Days on market

Built 1996 Fair condition $46/sqft · 79% below area $795/mo HOA · 49% of rent ↓ 23% since listing

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Why this score? — see what drove the B- 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 +26.7/30.0
• 1% rule +10.0/10.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• Schools +4.1/10.0
• Livability +3.7/5.0
• Rent growth +3.1/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 11359 N Lake Rd in the desirable Lake Fenton Estates community! This charming 3-bedroom, 2-bath home offers 1,092 sq. ft. of comfortable, efficient living space. The open layout features a bright living area, functional kitchen, and a cozy dining space perfect for everyday living. The primary suite includes its own private bath, while two additional bedrooms provide flexibility for family, guests, or a home office. This home is set on a desirable lot with only one neighbor and an open backyard that backs up to the woods. This home lot is also one of the few in the park that also has the space available to build a garage if desired and approved by park. Located in the heart of the Lake Fenton area, you'll enjoy close proximity to shopping, dining, lakes, and top-rated schools. Affordable, convenient, and move-in ready - this home is a fantastic opportunity in a sought-after community. * * * Motivated Seller-Estate Sale * * *

Key facts

• Functional kitchen
• Move-in ready
• Private bath

Tags

• PRIVATE BATH
• FUNCTIONAL KITCHEN
• COZY DINING SPACE
• MOVE-IN READY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $50k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $136 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% vs local median 2.4% in Lake Fenton — 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 74/100 on livability (#183 in MI, #4,770 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Lake Fenton Community Schools (rural): math 40% / reading 52% proficiency, ranked #124 of 540 in MI (top 23%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.6%/yr); 314 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 419 units permitted in Genesee County in 2024 (68 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $345 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Genesee County population projected at -27% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 2.6% rent growth), your $14k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 175 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $15k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: HOA is 49% of rent.

Recommended offer $43,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 175 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 3.24% ✓
• Cap rate: 9.56%
• Cash-on-cash: 11.66%
• DSCR: 1.52
• GRM: 2.6

CMA / ARV

• ARV (median comp): $241,577
• List price: $49,900
• Delta: -79.34%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11367 N Lake Dr	0.03mi	3/2.0	1,144 (+5%)	18mo	$44,000	$38	76
2320 Belle Glade Ct	0.11mi	3/1.5	1,180 (+8%)	8mo	$248,000	$210	73
11383 Harbor Cv	0.05mi	3/2.0	1,196 (+10%)	12mo	$65,000	$54	72
11312 N Lake Dr	0.10mi	3/2.0	1,248 (+14%)	2mo	$59,999	$48	70
2515 N Long Lake Rd	0.42mi	3/1.0	1,144 (+5%)	16mo	$240,000	$210	55
11510 Torrey Rd	0.65mi	3/1.5	1,152 (+6%)	8mo	$290,000	$252	52

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 · 2.59% rent growth · sell at horizon

5-year hold

• IRR: 0.8%
• Equity multiple: 1.03×
• Total profit: $407
• Equity at exit: $7,440

10-year hold

• IRR: 10.1%
• Equity multiple: 1.78×
• Total profit: $10,868
• Equity at exit: $4,314

Cash invested: $13,972 (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 48430

• Rents YoY: 2.6%
• Active inventory: 314
• Price-to-rent: 2.6×

Monthly cashflow live

• Estimated rent: $1,615 medium
• Mortgage (P&I): −$262
• Tax est. 1.5%: −$62 /mo · $748/yr
• Insurance: −$21
• HOA: −$795
• Vacancy / Maint / Mgmt: −$339
• Net cashflow: $136

Break-even live

Break-even rent $1,443

Max offer price $49,900

Occupancy floor 87%

Sensitivity live

Price	-10% $170	-5% $153	+0% $136	+5% $118	+10% $101
Rent	-10% $8	-5% $72	+0% $136	+5% $199	+10% $263
Rate	-1.0pp $161	-0.5pp $148	base $136	+0.5pp $123	+1.0pp $110

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
11431 N Lake Dr Unit 94 Fenton, MI	4.0	2.0	1456	$1,699	$1.17	44d	1	0.13mi
2361 Oakgrove Dr Unit 52 Fenton, MI	3.0	2.0	1120	$1,499	$1.34	44d	1	0.17mi
2366 Harbor Dr Unit 75 Fenton, MI	2.0	2.0	960	$1,299	$1.35	21d	1	0.20mi

HOA detail

• Monthly dues: $795 · $9,540/yr

Listing history 12 events

1. 2026-05-01
   price $49,900 952-char remark

   Show marketing remark (962 chars)

   Welcome to 11359 N Lake Rd in the desirable Lake Fenton Estates community! This charming 3-bedroom, 2-bath home offers 1,092 sq. ft. of comfortable, efficient living space. The open layout features a bright living area, functional kitchen, and a cozy dining space perfect for everyday living. The primary suite includes its own private bath, while two additional bedrooms provide flexibility for family, guests, or a home office. This home is set on a desirable lot with only one neighbor and an open backyard that backs up to the woods. This home lot is also one of the few in the park that also has the space available to build a garage if desired and approved by park. Located in the heart of the Lake Fenton area, you’ll enjoy close proximity to shopping, dining, lakes, and top-rated schools. Affordable, convenient, and move-in ready—this home is a fantastic opportunity in a sought-after community. * * * Motivated Seller-Estate Sale * * *

2. 2026-05-01
   price $49,900 962-char remark

   Show marketing remark (962 chars)

   Welcome to 11359 N Lake Rd in the desirable Lake Fenton Estates community! This charming 3-bedroom, 2-bath home offers 1,092 sq. ft. of comfortable, efficient living space. The open layout features a bright living area, functional kitchen, and a cozy dining space perfect for everyday living. The primary suite includes its own private bath, while two additional bedrooms provide flexibility for family, guests, or a home office. This home is set on a desirable lot with only one neighbor and an open backyard that backs up to the woods. This home lot is also one of the few in the park that also has the space available to build a garage if desired and approved by park. Located in the heart of the Lake Fenton area, you’ll enjoy close proximity to shopping, dining, lakes, and top-rated schools. Affordable, convenient, and move-in ready—this home is a fantastic opportunity in a sought-after community. * * * Motivated Seller-Estate Sale * * *

3. 2026-01-15
   price $54,900 952-char remark

   Show marketing remark (952 chars)

   Welcome to 11359 N Lake Rd in the desirable Lake Fenton Estates community! This charming 3-bedroom, 2-bath home offers 1,092 sq. ft. of comfortable, efficient living space. The open layout features a bright living area, functional kitchen, and a cozy dining space perfect for everyday living. The primary suite includes its own private bath, while two additional bedrooms provide flexibility for family, guests, or a home office. This home is set on a desirable lot with only one neighbor and an open backyard that backs up to the woods. This home lot is also one of the few in the park that also has the space available to build a garage if desired and approved by park. Located in the heart of the Lake Fenton area, you'll enjoy close proximity to shopping, dining, lakes, and top-rated schools. Affordable, convenient, and move-in ready - this home is a fantastic opportunity in a sought-after community. * * * Motivated Seller-Estate Sale * * *

4. 2026-01-14
   price $54,900 962-char remark

   Show marketing remark (962 chars)

   Welcome to 11359 N Lake Rd in the desirable Lake Fenton Estates community! This charming 3-bedroom, 2-bath home offers 1,092 sq. ft. of comfortable, efficient living space. The open layout features a bright living area, functional kitchen, and a cozy dining space perfect for everyday living. The primary suite includes its own private bath, while two additional bedrooms provide flexibility for family, guests, or a home office. This home is set on a desirable lot with only one neighbor and an open backyard that backs up to the woods. This home lot is also one of the few in the park that also has the space available to build a garage if desired and approved by park. Located in the heart of the Lake Fenton area, you’ll enjoy close proximity to shopping, dining, lakes, and top-rated schools. Affordable, convenient, and move-in ready—this home is a fantastic opportunity in a sought-after community. * * * Motivated Seller-Estate Sale * * *

5. 2026-01-14
   status Active 952-char remark

   Show marketing remark (962 chars)

   Welcome to 11359 N Lake Rd in the desirable Lake Fenton Estates community! This charming 3-bedroom, 2-bath home offers 1,092 sq. ft. of comfortable, efficient living space. The open layout features a bright living area, functional kitchen, and a cozy dining space perfect for everyday living. The primary suite includes its own private bath, while two additional bedrooms provide flexibility for family, guests, or a home office. This home is set on a desirable lot with only one neighbor and an open backyard that backs up to the woods. This home lot is also one of the few in the park that also has the space available to build a garage if desired and approved by park. Located in the heart of the Lake Fenton area, you’ll enjoy close proximity to shopping, dining, lakes, and top-rated schools. Affordable, convenient, and move-in ready—this home is a fantastic opportunity in a sought-after community. * * * Motivated Seller-Estate Sale * * *

6. 2026-01-14
   status Active 962-char remark

   Show marketing remark (962 chars)

   Welcome to 11359 N Lake Rd in the desirable Lake Fenton Estates community! This charming 3-bedroom, 2-bath home offers 1,092 sq. ft. of comfortable, efficient living space. The open layout features a bright living area, functional kitchen, and a cozy dining space perfect for everyday living. The primary suite includes its own private bath, while two additional bedrooms provide flexibility for family, guests, or a home office. This home is set on a desirable lot with only one neighbor and an open backyard that backs up to the woods. This home lot is also one of the few in the park that also has the space available to build a garage if desired and approved by park. Located in the heart of the Lake Fenton area, you’ll enjoy close proximity to shopping, dining, lakes, and top-rated schools. Affordable, convenient, and move-in ready—this home is a fantastic opportunity in a sought-after community. * * * Motivated Seller-Estate Sale * * *

7. 2026-01-12
   status Pending 952-char remark

   Show marketing remark (962 chars)

   Welcome to 11359 N Lake Rd in the desirable Lake Fenton Estates community! This charming 3-bedroom, 2-bath home offers 1,092 sq. ft. of comfortable, efficient living space. The open layout features a bright living area, functional kitchen, and a cozy dining space perfect for everyday living. The primary suite includes its own private bath, while two additional bedrooms provide flexibility for family, guests, or a home office. This home is set on a desirable lot with only one neighbor and an open backyard that backs up to the woods. This home lot is also one of the few in the park that also has the space available to build a garage if desired and approved by park. Located in the heart of the Lake Fenton area, you’ll enjoy close proximity to shopping, dining, lakes, and top-rated schools. Affordable, convenient, and move-in ready—this home is a fantastic opportunity in a sought-after community. * * * Motivated Seller-Estate Sale * * *

8. 2026-01-12
   status Pending 962-char remark

   Show marketing remark (962 chars)

   Welcome to 11359 N Lake Rd in the desirable Lake Fenton Estates community! This charming 3-bedroom, 2-bath home offers 1,092 sq. ft. of comfortable, efficient living space. The open layout features a bright living area, functional kitchen, and a cozy dining space perfect for everyday living. The primary suite includes its own private bath, while two additional bedrooms provide flexibility for family, guests, or a home office. This home is set on a desirable lot with only one neighbor and an open backyard that backs up to the woods. This home lot is also one of the few in the park that also has the space available to build a garage if desired and approved by park. Located in the heart of the Lake Fenton area, you’ll enjoy close proximity to shopping, dining, lakes, and top-rated schools. Affordable, convenient, and move-in ready—this home is a fantastic opportunity in a sought-after community. * * * Motivated Seller-Estate Sale * * *

9. 2026-01-07
   price $59,900 952-char remark

   Show marketing remark (952 chars)

   Welcome to 11359 N Lake Rd in the desirable Lake Fenton Estates community! This charming 3-bedroom, 2-bath home offers 1,092 sq. ft. of comfortable, efficient living space. The open layout features a bright living area, functional kitchen, and a cozy dining space perfect for everyday living. The primary suite includes its own private bath, while two additional bedrooms provide flexibility for family, guests, or a home office. This home is set on a desirable lot with only one neighbor and an open backyard that backs up to the woods. This home lot is also one of the few in the park that also has the space available to build a garage if desired and approved by park. Located in the heart of the Lake Fenton area, you'll enjoy close proximity to shopping, dining, lakes, and top-rated schools. Affordable, convenient, and move-in ready - this home is a fantastic opportunity in a sought-after community. * * * Motivated Seller-Estate Sale * * *

10. 2026-01-06
    price $59,900 962-char remark

    Show marketing remark (962 chars)

    Welcome to 11359 N Lake Rd in the desirable Lake Fenton Estates community! This charming 3-bedroom, 2-bath home offers 1,092 sq. ft. of comfortable, efficient living space. The open layout features a bright living area, functional kitchen, and a cozy dining space perfect for everyday living. The primary suite includes its own private bath, while two additional bedrooms provide flexibility for family, guests, or a home office. This home is set on a desirable lot with only one neighbor and an open backyard that backs up to the woods. This home lot is also one of the few in the park that also has the space available to build a garage if desired and approved by park. Located in the heart of the Lake Fenton area, you’ll enjoy close proximity to shopping, dining, lakes, and top-rated schools. Affordable, convenient, and move-in ready—this home is a fantastic opportunity in a sought-after community. * * * Motivated Seller-Estate Sale * * *

11. 2025-12-02
    listed $64,900 Active 952-char remark

    Show marketing remark (962 chars)

    Welcome to 11359 N Lake Rd in the desirable Lake Fenton Estates community! This charming 3-bedroom, 2-bath home offers 1,092 sq. ft. of comfortable, efficient living space. The open layout features a bright living area, functional kitchen, and a cozy dining space perfect for everyday living. The primary suite includes its own private bath, while two additional bedrooms provide flexibility for family, guests, or a home office. This home is set on a desirable lot with only one neighbor and an open backyard that backs up to the woods. This home lot is also one of the few in the park that also has the space available to build a garage if desired and approved by park. Located in the heart of the Lake Fenton area, you’ll enjoy close proximity to shopping, dining, lakes, and top-rated schools. Affordable, convenient, and move-in ready—this home is a fantastic opportunity in a sought-after community. * * * Motivated Seller-Estate Sale * * *

12. 2025-12-02
    listed $64,900 Active 962-char remark

    Show marketing remark (962 chars)

    Welcome to 11359 N Lake Rd in the desirable Lake Fenton Estates community! This charming 3-bedroom, 2-bath home offers 1,092 sq. ft. of comfortable, efficient living space. The open layout features a bright living area, functional kitchen, and a cozy dining space perfect for everyday living. The primary suite includes its own private bath, while two additional bedrooms provide flexibility for family, guests, or a home office. This home is set on a desirable lot with only one neighbor and an open backyard that backs up to the woods. This home lot is also one of the few in the park that also has the space available to build a garage if desired and approved by park. Located in the heart of the Lake Fenton area, you’ll enjoy close proximity to shopping, dining, lakes, and top-rated schools. Affordable, convenient, and move-in ready—this home is a fantastic opportunity in a sought-after community. * * * Motivated Seller-Estate Sale * * *

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

Taxation est. · year 1

• Rental income: $19,376
• − Mortgage interest: −$2,795
• − Property taxes: −$748
• − Insurance: −$250
• − Repairs & maintenance: −$1,550
• − Management: −$1,550
• − HOA: −$9,540
• − Depreciation: −$1,452
• Taxable income: $1,491
• Est. tax owed @ 24.0%: −$358
• After-tax cash flow: $1,271/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 · 1 photo

Fair 45/100 Moderate rehab

This home is in fair condition with moderate rehabilitation needs. It offers a good starting point for an investor looking to improve its curb appeal and energy efficiency.

Repairs flagged

• Minor Driveway — Cracks in concrete

Value-add opportunities

• Both Paint exterior — Enhances curb appeal and value
• Both Replace windows — Improves energy efficiency and aesthetics
• Both Update HVAC system — Enhances comfort and energy efficiency

Renovation cost estimate screening

Repair item	Severity	Est. cost
Driveway · Cracks in concrete	Minor	$500–3,000
Total estimated repair cost · 1 items		$500–3,000

Value-add ROI direction

• Both Paint exterior — Enhances curb appeal and value ↑
• Both Replace windows — Improves energy efficiency and aesthetics ↑
• Both Update HVAC system — Enhances comfort and energy efficiency ↑

ⓘ 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: Lake Fenton Community Schools
• NCES district ID: 2620670
• Math proficiency: 40% ▼ -8.00%
• Reading proficiency: 52% ▼ -8.00%
• Median HH income: $65,788
• Composite: 40.93/100
• National rank: #3609
• State rank: #124 of 540 in MI

Livability — Lake Fenton

• Score: 74/100
• State rank: #183
• US rank: #4770

Category grades

Amenities F Commute F 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: Lake Fenton, MI
• County: Livingston County · 121,626 people
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 39,309
• Household income: $100,193
• Rent vs Own: 18.6% rent · 81.4% own
• Severe rent burden: 642.0

Population outlook (Genesee County) Hauer SSP2

• Today (2025): 381,312 people
• By 2030: 362,731 · -4.9%
• By 2040: 321,550 · -15.7%
• By 2050: 279,212 · -26.8%
• By 2075: 193,336 · -49.3%
• By 2100: 128,118 · -66.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (91%)
• Race & ethnicity: White 91% Two or more races 4% Hispanic / Latino 3% Asian 1% Black 1%
• Common ancestry: Romanian 10% Lithuanian 5% Slovak 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 1% Other Asian/Pacific 1% Other Indo-European 1%

Political lean MEDSL · Genesee

• 2024 margin: Toss-up / Even · D 51.4% · R 47.2% · Other 1.4%
• 2008→2024 swing: -28.3pp toward R · 2008: 32.5pp · 2024: 4.2pp
• All cycles: 2024: D+4.2 2020: D+9.3 2016: D+9.5 2012: D+28.2 2008: D+32.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -298.66%
• Current HPI: 238.8371
• Rent YoY: ▲ 2.59%
• 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

-23.1% since first listed

12 events — show timeline

• 2026-05-01 Price Changed $49,900 MiRealSource-MiMLS
• 2026-05-01 Price Changed $49,900 REALCOMP
• 2026-01-15 Price Changed $54,900 MiRealSource-MiMLS
• 2026-01-14 Price Changed $54,900 REALCOMP
• 2026-01-14 Relisted — MiRealSource-MiMLS
• 2026-01-14 Relisted — REALCOMP
• 2026-01-12 Pending — MiRealSource-MiMLS
• 2026-01-12 Pending — REALCOMP
• 2026-01-07 Price Changed $59,900 MiRealSource-MiMLS
• 2026-01-06 Price Changed $59,900 REALCOMP
• 2025-12-02 Listed $64,900 REALCOMP
• 2025-12-02 Listed $64,900 MiRealSource-MiMLS