492 Algene St · Orion, MI 48362

$338,000

3 bd · 1.0 ba · 1,037 sqft · SingleFamily public records · 13 Days on market

Built 1950 8,712 sqft lot Est $244k · 39% over

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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 +12.3/30.0
• Schools +5.1/10.0
• DSCR +3.6/10.0
• 1% rule +3.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Imagine 492 Algene St, a residence designed for everyday practicality and comfort, with thoughtful enhancements throughout. The kitchen features an accent backsplash and contains all stainless steel appliances, providing a streamlined culinary environment. An exterior patio extends to a fully fenced in backyard, providing functional outdoor space. Experience a blend of modern style and functional living. Buyer/agent advised to verify homestead vs non homestead tax status with a tax professional. Included 100-Day Home Warranty with buyer activation

Key facts

• Exterior patio
• Accent backsplash
• 8,712 sq ft lot

Tags

• ACCENT BACKSPLASH
• STAINLESS STEEL APPLIANCES
• EXTERIOR PATIO
• FULLY FENCED BACKYARD

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two levels; Ground-level entry with steps
• Construction: Aluminum and vinyl siding; Block foundation; Built with conventional residential construction
• Exterior features: Patio; Paved road access; Pets allowed

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No central air cooling
• Interior features: Unfinished basement; Total of 5 rooms

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $338k.

Deal economics

• At list price, monthly cash flow is $-63 ($-762/yr) — negative.
• To cash-flow at today's rent, offer at most $327k (3.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $270k (20.3% below list).
• Recommended offer: $270k (20.3% 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; 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 $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.
• 11 sale attempts since 27y 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.

Risks & watch-outs

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

Recommended offer $269,530 (20.3% 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. Built in 1950 — 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. 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?
5. 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.
6. 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.
7. 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: 0.80% ✗
• Cap rate: 6.07%
• Cash-on-cash: -0.81%
• DSCR: 0.96
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $243,695
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
74 Odanah St	0.22mi	3/1.5	1,109 (+7%)	1mo	$244,000	$220	75
481 Heights Rd	0.32mi	2/1.0 (-1)	1,081 (+4%)	7mo	$325,000	$301	67
853 Merritt Ave	0.58mi	3/1.0	1,025 (-1%)	6mo	$227,500	$222	66
893 Sherry Dr	0.50mi	3/1.5	1,105 (+7%)	1mo	$302,000	$273	63
30 Beebe St	0.64mi	2/1.0 (-1)	1,008 (-3%)	10mo	$265,000	$263	52
160 Parkview Blvd	0.67mi	2/1.0 (-1)	1,104 (+6%)	7mo	$259,000	$235	47
305 Goldengate St	0.57mi	3/1.0	1,172 (+13%)	7mo	$250,000	$213	46
332 Newton Dr	0.60mi	3/1.0	906 (-13%)	7mo	$220,000	$243	46
40 Smith Ct	0.32mi	2/1.0 (-1)	926 (-11%)	21mo	$200,000	$216	45
417 Glenn Ct	0.71mi	3/1.0	1,067 (+3%)	23mo	$250,000	$234	43
126 N North Shore Dr	0.73mi	3/1.5	1,170 (+13%)	4mo	$230,000	$197	40
630 Longpointe Dr	0.69mi	2/1.0 (-1)	884 (-15%)	20mo	$285,000	$322	21

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: -17.6%
• Equity multiple: 0.38×
• Total profit: $-58,861
• Equity at exit: $50,397

10-year hold

• IRR: -9.8%
• Equity multiple: 0.40×
• Total profit: $-56,654
• Equity at exit: $29,224

Cash invested: $94,640 (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: 10.5×

Monthly cashflow live

• Estimated rent: $2,695 high
• Mortgage (P&I): −$1,773
• Tax from tax record: −$279 /mo · $3,353/yr
• Insurance: −$141
• HOA: −$0
• Vacancy / Maint / Mgmt: −$566
• Net cashflow: $-63

Break-even live

Break-even rent $2,776

Max offer price $326,784

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: $84,500
• Closing costs: $10,140
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
442 Mystic Cove Ln Lake Orion, MI	2.0–4.0	2.0–3.0	1989	$5,350	$2.69	1d	4	0.27mi
711 Kimberly Lake Orion, MI	1.0–2.0	1.0–1.5	985	$1,149	$1.17	1d	6	0.30mi
120 S Broadway St Lake Orion, MI	2.0	2.0	1065	$2,950	$2.77	14d	1	0.57mi
733 Luna Ct Lake Orion, MI	3.0	1.5	1177	$2,695	$2.29	19d	1	1.07mi
784 Porteous Dr Lake Orion, MI	2.0	1.0	875	$1,600	$1.83	43d	1	1.49mi

Listing history 9 events

1. 2026-06-18
   days on market $338,000 Active 13 DOM
2. 2026-06-17
   days on market $338,000 Active 12 DOM
3. 2026-06-16
   days on market $338,000 Active 11 DOM
4. 2026-06-15
   days on market $338,000 Active 10 DOM
5. 2026-06-13
   days on market $338,000 Active 8 DOM
6. 2026-06-09
   days on market $338,000 Active 4 DOM
7. 2026-06-08
   days on market $338,000 Active 3 DOM
8. 2026-06-07
   remarks 553-char remark
9. 2026-06-07
   listed $338,000 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: $3,353 · $279/mo
• Projected year-2 tax: $4,279 · $357/mo
• Expected delta: +$926/yr (+$77/mo · 27.6%)

ⓘ 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: $32,344
• − Mortgage interest: −$18,933
• − Property taxes: −$3,353
• − Insurance: −$1,690
• − Repairs & maintenance: −$2,587
• − Management: −$2,587
• − Depreciation: −$9,833
• Taxable loss: −$6,641
• Est. tax savings @ 24.0%: +$1,594
• After-tax cash flow: $832/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

+181.9% since first listed

34 events — show timeline

• 2026-06-05 Listed $338,000 REALCOMP
• 2026-06-05 Listed $338,000 MiRealSource-MiMLS
• 2026-05-21 Sold (Public Records) $325,900 Public Records
• 2025-01-17 Sold (Public Records) $215,000 Public Records
• 2025-01-10 Sold (MLS) $215,000 MiRealSource-MiMLS
• 2025-01-10 Sold (MLS) $215,000 REALCOMP
• 2024-12-17 Pending — REALCOMP
• 2024-12-16 Pending — MiRealSource-MiMLS
• 2024-12-16 Pending — REALCOMP
• 2024-11-12 Price Changed $240,000 MiRealSource-MiMLS
• 2024-11-12 Price Changed $240,000 REALCOMP
• 2024-11-07 Price Changed $248,000 MiRealSource-MiMLS
• 2024-11-07 Price Changed $248,000 REALCOMP
• 2024-11-05 Price Changed $258,000 MiRealSource-MiMLS
• 2024-11-05 Price Changed $258,000 REALCOMP
• 2024-11-01 Listed $268,000 MiRealSource-MiMLS
• 2024-11-01 Listed $268,000 REALCOMP
• 2009-10-13 Sold (MLS) $31,000 REALCOMP
• 2009-06-19 Listed $35,000 REALCOMP
• 2009-04-08 Listing Removed — MiRealSource-MiMLS
• 2009-04-08 Listing Removed — REALCOMP
• 2008-10-30 Listed $53,000 MiRealSource-MiMLS
• 2008-10-30 Listed $53,000 REALCOMP
• 2006-09-12 Sold (Public Records) $139,900 Public Records
• 2003-10-14 Listing Removed — REALCOMP
• 2003-09-26 Listed $139,900 REALCOMP
• 2003-02-17 Listing Removed — REALCOMP
• 2003-02-03 Listed $134,900 REALCOMP
• 2002-12-31 Listing Removed — REALCOMP
• 2002-05-20 Listed $132,900 REALCOMP
• 2000-02-09 Sold (Public Records) $131,000 Public Records
• 2000-02-09 Sold (Public Records) $115,000 Public Records
• 1999-12-30 Sold (MLS) $115,000 REALCOMP
• 1999-10-11 Listed $119,900 REALCOMP

Property tax history

+6.3%/yr

Latest (2025): $3,353 · +44.1% YoY. Source: county tax records.