76 Fawn Lake Dr · Walled Lake, MI 48390

$35,000

2 bd · 2.0 ba · 757 sqft · SingleFamily · 7 Days on market

Built 2018 Good condition 4,356 sqft lot $895/mo HOA · 58% of rent

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +5.0/10.0
• Condition / age +4.0/5.0
• Livability +3.8/5.0
• Rent growth +2.8/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this 700+ sq. ft. modular home in Walled Lake, offering a functional layout and comfortable living. The home features a large open kitchen with oak cabinets, providing plenty of space for cooking and entertaining. A dedicated dining area offers the perfect spot for meals and gatherings. 2 large bedrooms with plenty of storage. 2 full bathrooms. Located in a sought-after Fawn Lake Estates, you'll appreciate close proximity to shopping, dining, parks.

Key facts

• Oak cabinets
• Large open kitchen
• 4,356 sq ft lot

Tags

• LARGE OPEN KITCHEN
• OAK CABINETS
• DEDICATED DINING AREA
• CLOSE PROXIMITY TO SHOPPING
• CLOSE PROXIMITY TO DINING
• CLOSE PROXIMITY TO PARKS

Property features AI

Finance

• Other: Listing located in Walled Lake area; directions: east of Ladd Rd, north of W Maple Rd
• HOA & community: Homeowners association with monthly fee of $895

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story; Ground-level entry with steps
• Construction: Vinyl siding
• Exterior features: Paved road access; Lot approximately 0.1 acre (11 x 111)

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Crawl space basement; Five total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $35k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $83 ($999/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $35k).
• Cap rate 9.1% vs local median 3.8% in Walled Lake — 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 75/100 on livability (#157 in MI, #3,969 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities D, health & safety D, commute F.
• Walled Lake Consolidated Schools (suburban): math 52% / reading 60% proficiency, ranked #58 of 540 in MI (top 11%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising (+1.0%/yr); 158 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 56% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $242 of loan paydown is wiped out by about $1k 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 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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: HOA is 58% of rent.

Recommended offer $35,000

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 4.41% ✓
• Cap rate: 9.15%
• Cash-on-cash: 10.20%
• DSCR: 1.45
• GRM: 1.9

CMA / ARV

• ARV (on-the-fly): $186,222
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
969 Dunreath St	0.52mi	2/1.0	759 (+0%)	1mo	$187,000	$246	70

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 · 1.04% rent growth · sell at horizon

5-year hold

• IRR: -8.3%
• Equity multiple: 0.72×
• Total profit: $-2,783
• Equity at exit: $5,219

10-year hold

• IRR: -13.5%
• Equity multiple: 0.48×
• Total profit: $-5,052
• Equity at exit: $3,026

Cash invested: $9,800 (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 48390

• Rents YoY: 1.0%
• Active inventory: 158
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,544 high
• Mortgage (P&I): −$184
• Tax est. 1.5%: −$44 /mo · $525/yr
• Insurance: −$15
• HOA: −$895
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $83

Break-even live

Break-even rent $1,439

Max offer price $35,000

Occupancy floor 90%

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
831 N Pontiac Trl Unit 108 Walled Lake, MI	3.0	2.0	924	$1,579	$1.71	12d	1	0.36mi
1250 E West Maple Rd Walled Lake, MI	1.0	1.0	700	$1,150	$1.64	16d	4	0.66mi
1527 Mariner Dr Walled Lake, MI	2.0	1.5	946	$1,800	$1.90	43d	1	1.12mi
45685 Timberlane Ct Novi, MI	1.0–2.0	1.0	806	$1,195	$1.48	43d	1	1.28mi
2177 Decker Rd Walled Lake, MI	2.0	1.0	900	$1,200	$1.33	43d	1	1.28mi
2175 Decker Rd Walled Lake, MI	2.0	1.0	875	$1,200	$1.37	24d	1	1.37mi
2161 Decker Rd Unit 24 Walled Lake, MI	2.0	1.0	950	$1,200	$1.26	43d	1	1.37mi
159 Pickford St Novi, MI	3.0	1.0	1115	$900	$0.81	20d	1	1.38mi
1505 Oakshade St Commerce Charter Twp, MI	1.0	1.0	825	$1,095	$1.33	43d	1	1.47mi

HOA detail

• Monthly dues: $895 · $10,740/yr

Listing history 7 events

1. 2026-06-18
   days on market $35,000 Active 7 DOM
2. 2026-06-17
   days on market $35,000 Active 6 DOM
3. 2026-06-16
   days on market $35,000 Active 5 DOM
4. 2026-06-15
   days on market $35,000 Active 4 DOM
5. 2026-06-13
   days on market $35,000 Active 2 DOM
6. 2026-06-13
   remarks 464-char remark
7. 2026-06-13
   listed $35,000 Active 1 DOM

ⓘ 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: $18,534
• − Mortgage interest: −$1,961
• − Property taxes: −$525
• − Insurance: −$175
• − Repairs & maintenance: −$1,483
• − Management: −$1,483
• − HOA: −$10,740
• − Depreciation: −$1,018
• Taxable income: $1,150
• Est. tax owed @ 24.0%: −$276
• After-tax cash flow: $723/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 · 13 photos

Good 80/100 Cosmetic rehab

This 700+ sq. ft. modular home in Walled Lake, MI, is in good condition with a functional layout and comfortable living space. It offers a large open kitchen, two large bedrooms, and two full bathrooms. The home is located in a sought-after neighborhood with close proximity to shopping, dining, and parks.

Value-add opportunities

• Both Painting the exterior and interior — Fresh paint can enhance the curb appeal and interior aesthetics, making the home more attractive to potential buyers and renters.
• Both Landscaping improvements — Well-maintained landscaping can improve the home's curb appeal and add value to the property.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior — Fresh paint can enhance the curb appeal and interior aesthetics, making the home more attractive to potential buyers and renters. ↑
• Both Landscaping improvements — Well-maintained landscaping can improve the home's curb appeal and add value to the property. ↑

ⓘ 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: Walled Lake Consolidated Schools
• NCES district ID: 2635160
• Math proficiency: 52% ▼ -4.00%
• Reading proficiency: 60% ▼ -1.00%
• Median HH income: $69,184
• Composite: 49.57/100
• National rank: #1987
• State rank: #58 of 540 in MI

Livability — Walled Lake

• Score: 75/100
• State rank: #157
• US rank: #3969

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Walled Lake, MI
• County: Oakland County · 1,009,092 people
• City population: 24,118
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 23,939
• Household income: $91,381
• Rent vs Own: 25.3% rent · 74.7% own
• Severe rent burden: 514.0

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% Asian 7% Two or more races 4% Hispanic / Latino 4% Black 3%
• Common ancestry: Romanian 12% Lithuanian 4% Slovak 3%
• Foreign-born: 16% · Canada, Vietnam, Dominican Republic
• Languages at home: 82% English-only · Other Indo-European 3% Other Asian/Pacific 3% Russian/Polish/Slavic 3%

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: ▼ -344.88%
• Current HPI: 180.9641
• Rent YoY: ▲ 1.04%
• 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

+0.0% since first listed

2 events — show timeline

• 2026-06-11 Listed $35,000 MiRealSource-MiMLS
• 2026-06-11 Listed $35,000 REALCOMP