6281 Waldon Rd · Village of Clarkston, MI 48346

$229,900

2 bd · 1.0 ba · 709 sqft · SingleFamily public records · 2 Days on market

Built 1947 0.39 ac lot Est $226k · at est.

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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 +12.6/30.0
• ARV discount +6.8/15.0
• Schools +4.8/10.0
• Livability +4.0/5.0
• DSCR +3.8/10.0
• 1% rule +3.3/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Discover the perfect blend of coziness and convenience in this small gem nestled on a deep wooded lot. Just minutes from a shopping mall, hospital, and the vibrant downtown of Clarkston—an up-and-coming town full of charm. Embrace the tranquility of your private retreat while staying connected to the heartbeat of this thriving community. Your ideal home awaits! ___ REAL ESTATE AGENT OWNER, SELLER HAS NOT LIVED IN HOME. ALL APPLIANCES ARE INCLUDED

Key facts

• 0.39 acre lot
• Garage
• Built 1947

Property features AI

Exterior

• Parking: Detached, side-loading garage (16 x 20); Approximately 1.5 garage parking spaces
• Utilities: Public water; Natural gas; Gas water heater; Public utilities available
• Home design: Residential single-story home; Built in 1947; Entry-level main living; Frontage approximately 65 feet
• Construction: Crawl foundation
• Exterior features: Vinyl siding; Patio; All-sports lake access, lake/river privileges and beach access to Deer Lake; Pets allowed; Paved street

Interior

• Kitchen: Entry-level kitchen (approx. 8 x 8); Dishwasher; Microwave; Range/Oven; Refrigerator
• Bedrooms: Two bedrooms on the entry level (approx. 18 x 11 and 7 x 11)
• Flooring: Ceramic flooring in bathroom and laundry room
• Bathrooms: One full bathroom on the entry level with ceramic floor (approx. 10 x 5)
• Heating & cooling: Forced air heating; Natural gas fuel; Central A/C; Ceiling fan(s); Gas water heater
• Interior features: DSL available; 6 total rooms
• Laundry & utility: Entry-level laundry room with ceramic floor (approx. 9 x 7)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $-30 ($-358/yr) — negative.
• To cash-flow at today's rent, offer at most $225k (2.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $192k (16.7% below list).
• Recommended offer: $192k (16.7% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.9% in Village of Clarkston — 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 79/100 on livability (#98 in MI, #2,255 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F.
• Clarkston Community School District (suburban): math 48% / reading 58% proficiency, ranked #69 of 540 in MI (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: Rents flat; 144 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 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 $7k 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 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y ago; this cycle's ask is 21% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $188k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $191,579 (16.7% 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 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
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: 0.83% ✗
• Cap rate: 6.14%
• Cash-on-cash: -0.56%
• DSCR: 0.98
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $226,171
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6281 Waldon Rd	0.00mi	2/1.0	704 (-1%)	0mo	$224,900	$319	99

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 · 0.71% rent growth · sell at horizon

5-year hold

• IRR: -19.7%
• Equity multiple: 0.32×
• Total profit: $-43,469
• Equity at exit: $34,279

10-year hold

• IRR: -18.2%
• Equity multiple: 0.11×
• Total profit: $-57,209
• Equity at exit: $19,878

Cash invested: $64,372 (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 48346

• Rents YoY: 0.7%
• Active inventory: 144
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,916 medium
• Mortgage (P&I): −$1,206
• Tax from tax record: −$242 /mo · $2,903/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $-30

Break-even live

Break-even rent $1,954

Max offer price $224,629

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5801 Bridgewater Dr Clarkston, MI	1.0–3.0	1.0–2.0	950	$1,499	$1.58	1d	5	1.18mi
5800 Deepwood Ct Clarkston, MI	1.0–2.0	1.0–2.0	964	$2,991	$3.10	1d	15	1.43mi

Listing history 11 events

1. 2026-05-22
   historical $229,900
2. 2024-02-27
   soldstatus $187,500
3. 2024-02-20
   soldstatus $187,500 Sold 457-char remark

   Show marketing remark (457 chars)

   Discover the perfect blend of coziness and convenience in this small gem nestled on a deep wooded lot. Just minutes from a shopping mall, hospital, and the vibrant downtown of Clarkston—an up-and-coming town full of charm. Embrace the tranquility of your private retreat while staying connected to the heartbeat of this thriving community. Your ideal home awaits! ___ REAL ESTATE AGENT OWNER, SELLER HAS NOT LIVED IN HOME. ALL APPLIANCES ARE INCLUDED

4. 2024-02-20
   soldstatus $187,500 Closed

   Show marketing remark (457 chars)

   Discover the perfect blend of coziness and convenience in this small gem nestled on a deep wooded lot. Just minutes from a shopping mall, hospital, and the vibrant downtown of Clarkston—an up-and-coming town full of charm. Embrace the tranquility of your private retreat while staying connected to the heartbeat of this thriving community. Your ideal home awaits! ___ REAL ESTATE AGENT OWNER, SELLER HAS NOT LIVED IN HOME. ALL APPLIANCES ARE INCLUDED

5. 2024-01-21
   status Pending

   Show marketing remark (457 chars)

   Discover the perfect blend of coziness and convenience in this small gem nestled on a deep wooded lot. Just minutes from a shopping mall, hospital, and the vibrant downtown of Clarkston—an up-and-coming town full of charm. Embrace the tranquility of your private retreat while staying connected to the heartbeat of this thriving community. Your ideal home awaits! ___ REAL ESTATE AGENT OWNER, SELLER HAS NOT LIVED IN HOME. ALL APPLIANCES ARE INCLUDED

6. 2024-01-21
   status Pending 457-char remark

   Show marketing remark (457 chars)

   Discover the perfect blend of coziness and convenience in this small gem nestled on a deep wooded lot. Just minutes from a shopping mall, hospital, and the vibrant downtown of Clarkston—an up-and-coming town full of charm. Embrace the tranquility of your private retreat while staying connected to the heartbeat of this thriving community. Your ideal home awaits! ___ REAL ESTATE AGENT OWNER, SELLER HAS NOT LIVED IN HOME. ALL APPLIANCES ARE INCLUDED

7. 2024-01-12
   listed $189,900 Active

   Show marketing remark (457 chars)

   Discover the perfect blend of coziness and convenience in this small gem nestled on a deep wooded lot. Just minutes from a shopping mall, hospital, and the vibrant downtown of Clarkston—an up-and-coming town full of charm. Embrace the tranquility of your private retreat while staying connected to the heartbeat of this thriving community. Your ideal home awaits! ___ REAL ESTATE AGENT OWNER, SELLER HAS NOT LIVED IN HOME. ALL APPLIANCES ARE INCLUDED

8. 2024-01-12
   listed $189,900 Active 457-char remark

   Show marketing remark (457 chars)

   Discover the perfect blend of coziness and convenience in this small gem nestled on a deep wooded lot. Just minutes from a shopping mall, hospital, and the vibrant downtown of Clarkston—an up-and-coming town full of charm. Embrace the tranquility of your private retreat while staying connected to the heartbeat of this thriving community. Your ideal home awaits! ___ REAL ESTATE AGENT OWNER, SELLER HAS NOT LIVED IN HOME. ALL APPLIANCES ARE INCLUDED

9. 2024-01-09
   historical $189,900

   Show marketing remark (457 chars)

   Discover the perfect blend of coziness and convenience in this small gem nestled on a deep wooded lot. Just minutes from a shopping mall, hospital, and the vibrant downtown of Clarkston—an up-and-coming town full of charm. Embrace the tranquility of your private retreat while staying connected to the heartbeat of this thriving community. Your ideal home awaits! ___ REAL ESTATE AGENT OWNER, SELLER HAS NOT LIVED IN HOME. ALL APPLIANCES ARE INCLUDED

10. 2024-01-09
    historical $189,900 457-char remark

    Show marketing remark (457 chars)

    Discover the perfect blend of coziness and convenience in this small gem nestled on a deep wooded lot. Just minutes from a shopping mall, hospital, and the vibrant downtown of Clarkston—an up-and-coming town full of charm. Embrace the tranquility of your private retreat while staying connected to the heartbeat of this thriving community. Your ideal home awaits! ___ REAL ESTATE AGENT OWNER, SELLER HAS NOT LIVED IN HOME. ALL APPLIANCES ARE INCLUDED

11. 2022-06-10
    soldstatus $50,000

ⓘ 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: $2,903 · $242/mo
• Projected year-2 tax: $3,222 · $268/mo
• Expected delta: +$319/yr (+$27/mo · 11.0%)

ⓘ 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 ≥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: $22,989
• − Mortgage interest: −$12,878
• − Property taxes: −$2,903
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,839
• − Management: −$1,839
• − Depreciation: −$6,688
• Taxable loss: −$4,307
• Est. tax savings @ 24.0%: +$1,034
• After-tax cash flow: $676/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: Clarkston Community School District
• NCES district ID: 2609900
• Math proficiency: 48% ▼ -8.00%
• Reading proficiency: 58% ▼ -5.00%
• Median HH income: $79,317
• Composite: 48.04/100
• National rank: #2193
• State rank: #69 of 540 in MI

Livability — Village of Clarkston

• Score: 79/100
• State rank: #98
• US rank: #2255

Category grades

Amenities F Commute F Cost of living C Crime A+ Employment A+ Housing A+ Health & safety A+ User ratings A-

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Oakland County · 1,009,092 people
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 23,167
• Household income: $101,477
• Rent vs Own: 30.9% rent · 69.1% own
• Severe rent burden: 397.0

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 (83%)
• Race & ethnicity: White 83% Two or more races 8% Black 6% Hispanic / Latino 5% Asian 1%
• Common ancestry: Romanian 11% Lithuanian 4% Slovak 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 95% English-only · Spanish 2% 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: ▼ -293.12%
• Current HPI: 184.0221
• Rent YoY: ▲ 0.71%
• 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

+359.8% since first listed

11 events — show timeline

• 2026-05-22 Coming Soon $229,900 MiRealSource-MiMLS
• 2024-02-27 Sold (Public Records) $187,500 Public Records
• 2024-02-20 Sold (MLS) $187,500 MiRealSource-MiMLS
• 2024-02-20 Sold (MLS) $187,500 REALCOMP
• 2024-01-21 Pending — MiRealSource-MiMLS
• 2024-01-21 Pending — REALCOMP
• 2024-01-12 Listed $189,900 MiRealSource-MiMLS
• 2024-01-12 Listed $189,900 REALCOMP
• 2024-01-09 Coming Soon $189,900 MiRealSource-MiMLS
• 2024-01-09 Coming Soon $189,900 REALCOMP
• 2022-06-10 Sold (Public Records) $50,000 Public Records

Property tax history

+2.1%/yr

Latest (2025): $2,903 · +53.8% YoY. Source: county tax records.