3174 Pirrin Dr · Waterford, MI 48329

$365,000

3 bd · 2.0 ba · 1,426 sqft · SingleFamily public records · 6 Days on market

Built 2000 10,454 sqft lot Est $270k · 35% 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 +7.3/30.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.5/10.0
• 1% rule +1.4/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Meticulously maintained, original-owner ranch in a desirable Waterford location with lake access to Maceday Lake. This 3-bedroom, 2-bath home features an open floor plan and shows exceptional pride of ownership with a newer gray metal roof with transferable 40-year warranty and leaf-filter gutter system. The inviting layout includes a gas fireplace with blower, custom wood mantle, and a standout fully insulated 4-season sunroom addition with heat pump/mini split for year-round comfort. Exterior updates include stone facade accents, updated sidewalk and entry, and recently painted trim, along with a finished, insulated garage with newer insulated garage door. Additional highlights include updated electrical for the sunroom, irrigation system with multiple zones, and an unfinished basement offering storage or future finishing potential. This beautiful home has been exceptionally well cared for, in solid condition and a good long-term value in a great location. Better Hurry. BATVAI

Key facts

• Stone facade accents
• Gas fireplace
• Irrigation system

Tags

• LAKE ACCESS
• 4-SEASON SUNROOM ADDITION
• GAS FIREPLACE
• STONE FACADE ACCENTS
• IRRIGATION SYSTEM
• FINISHED INSULATED GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $365k.

Deal economics

• At list price, monthly cash flow is $-479 ($-6k/yr) — negative.
• To cash-flow at today's rent, offer at most $280k (23.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $232k (36.4% below list).
• Recommended offer: $232k (36.4% 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.
• Waterford School District (suburban): math 26% / reading 42% proficiency, ranked #285 of 540 in MI (top 53%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 137 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent runs 32% of the median local income ($86k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $3k of loan paydown is wiped out by about $11k 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 6 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.
• Current owner paid $178k; list at $365k implies a 105% gain — meaningful room to come down on a strong offer.

Recommended offer $232,051 (36.4% 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. 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: 0.64% ✗
• Cap rate: 4.72%
• Cash-on-cash: -5.63%
• DSCR: 0.75
• GRM: 13.1

CMA / ARV

• ARV (on-the-fly): $269,514
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6414 Lanman Dr	0.33mi	2/2.0 (-1)	1,464 (+3%)	1mo	$265,444	$181	74
3194 Whitfield Dr	0.10mi	3/1.0	1,324 (-7%)	7mo	$159,900	$121	74
3004 Lansdowne Rd	0.23mi	3/1.5	1,473 (+3%)	10mo	$317,000	$215	73
3604 Terrell St	0.46mi	3/2.0	1,424 (-0%)	9mo	$263,000	$185	71
3238 Homestead Dr	0.09mi	3/1.0	1,313 (-8%)	10mo	$250,000	$190	70
7205 Williams Lake Rd	0.44mi	3/1.0	1,322 (-7%)	2mo	$250,000	$189	62
6215 Williams Lake Rd	0.62mi	3/1.0	1,374 (-4%)	8mo	$176,000	$128	55
3315 Warringham Ave	0.43mi	4/2.0 (+1)	1,212 (-15%)	1mo	$266,000	$219	50
2715 Campbellgate Dr	0.70mi	3/1.5	1,540 (+8%)	4mo	$306,000	$199	48
7226 Garvin	0.62mi	3/2.5	1,636 (+15%)	0mo	$325,000	$199	44
6275 Williams Lake Rd	0.55mi	3/1.0	1,228 (-14%)	6mo	$195,000	$159	42
3039 Airport Rd	0.69mi	2/2.0 (-1)	1,214 (-15%)	2mo	$230,000	$189	37

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: -26.0%
• Equity multiple: 0.12×
• Total profit: $-89,755
• Equity at exit: $54,423

10-year hold

• IRR: -22.8%
• Equity multiple: -0.15×
• Total profit: $-117,833
• Equity at exit: $31,559

Cash invested: $102,200 (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 48329

• Active inventory: 137
• Price-to-rent: 13.1×

Monthly cashflow live

• Estimated rent: $2,321 high
• Mortgage (P&I): −$1,914
• Tax from tax record: −$246 /mo · $2,954/yr
• Insurance: −$152
• HOA: −$0
• Vacancy / Maint / Mgmt: −$487
• Net cashflow: $-479

Break-even live

Break-even rent $2,927

Max offer price $280,361

Occupancy floor —

Sensitivity live

Price	-10% $-273	-5% $-376	+0% $-479	+5% $-582	+10% $-686
Rent	-10% $-662	-5% $-571	+0% $-479	+5% $-387	+10% $-296
Rate	-1.0pp $-295	-0.5pp $-386	base $-479	+0.5pp $-574	+1.0pp $-670

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: $91,250
• Closing costs: $10,950
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3234 Whitfield Dr Waterford, MI	3.0	2.0	1350	$2,350	$1.74	45d	1	0.13mi
2557 Desmond Waterford, MI	2.0	1.0	902	$1,595	$1.77	12d	1	0.77mi
2212 Macatawa Ln Waterford, MI	4.0	2.5	1640	$2,895	$1.77	0d	1	1.23mi
2208 Macatawa Ln Waterford, MI	4.0	2.0	1636	$2,695	$1.65	45d	1	1.24mi
4047 Ledgestone Dr Waterford, MI	3.0	2.0	1546	$2,280	$1.47	12d	1	1.31mi
6935 Tuson Blvd Clarkston, MI	1.0–2.0	1.0–1.5	910	$1,380	$1.52	0d	3	1.46mi

Listing history 6 events

1. 2026-04-21
   status Pending

   Show marketing remark (993 chars)

   Meticulously maintained, original-owner ranch in a desirable Waterford location with lake access to Maceday Lake. This 3-bedroom, 2-bath home features an open floor plan and shows exceptional pride of ownership with a newer gray metal roof with transferable 40-year warranty and leaf-filter gutter system. The inviting layout includes a gas fireplace with blower, custom wood mantle, and a standout fully insulated 4-season sunroom addition with heat pump/mini split for year-round comfort. Exterior updates include stone facade accents, updated sidewalk and entry, and recently painted trim, along with a finished, insulated garage with newer insulated garage door. Additional highlights include updated electrical for the sunroom, irrigation system with multiple zones, and an unfinished basement offering storage or future finishing potential. This beautiful home has been exceptionally well cared for, in solid condition and a good long-term value in a great location. Better Hurry. BATVAI

2. 2026-04-21
   status Pending 993-char remark

   Show marketing remark (993 chars)

   Meticulously maintained, original-owner ranch in a desirable Waterford location with lake access to Maceday Lake. This 3-bedroom, 2-bath home features an open floor plan and shows exceptional pride of ownership with a newer gray metal roof with transferable 40-year warranty and leaf-filter gutter system. The inviting layout includes a gas fireplace with blower, custom wood mantle, and a standout fully insulated 4-season sunroom addition with heat pump/mini split for year-round comfort. Exterior updates include stone facade accents, updated sidewalk and entry, and recently painted trim, along with a finished, insulated garage with newer insulated garage door. Additional highlights include updated electrical for the sunroom, irrigation system with multiple zones, and an unfinished basement offering storage or future finishing potential. This beautiful home has been exceptionally well cared for, in solid condition and a good long-term value in a great location. Better Hurry. BATVAI

3. 2026-04-15
   listed $365,000 Active

   Show marketing remark (993 chars)

   Meticulously maintained, original-owner ranch in a desirable Waterford location with lake access to Maceday Lake. This 3-bedroom, 2-bath home features an open floor plan and shows exceptional pride of ownership with a newer gray metal roof with transferable 40-year warranty and leaf-filter gutter system. The inviting layout includes a gas fireplace with blower, custom wood mantle, and a standout fully insulated 4-season sunroom addition with heat pump/mini split for year-round comfort. Exterior updates include stone facade accents, updated sidewalk and entry, and recently painted trim, along with a finished, insulated garage with newer insulated garage door. Additional highlights include updated electrical for the sunroom, irrigation system with multiple zones, and an unfinished basement offering storage or future finishing potential. This beautiful home has been exceptionally well cared for, in solid condition and a good long-term value in a great location. Better Hurry. BATVAI

4. 2026-04-15
   listed $365,000 Active 993-char remark

   Show marketing remark (993 chars)

   Meticulously maintained, original-owner ranch in a desirable Waterford location with lake access to Maceday Lake. This 3-bedroom, 2-bath home features an open floor plan and shows exceptional pride of ownership with a newer gray metal roof with transferable 40-year warranty and leaf-filter gutter system. The inviting layout includes a gas fireplace with blower, custom wood mantle, and a standout fully insulated 4-season sunroom addition with heat pump/mini split for year-round comfort. Exterior updates include stone facade accents, updated sidewalk and entry, and recently painted trim, along with a finished, insulated garage with newer insulated garage door. Additional highlights include updated electrical for the sunroom, irrigation system with multiple zones, and an unfinished basement offering storage or future finishing potential. This beautiful home has been exceptionally well cared for, in solid condition and a good long-term value in a great location. Better Hurry. BATVAI

5. 2000-11-01
   soldstatus $177,900
6. 2000-01-20
   soldstatus $110,000

ⓘ 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: $2,954 · $246/mo
• Projected year-2 tax: $4,287 · $357/mo
• Expected delta: +$1,334/yr (+$111/mo · 45.2%)

ⓘ 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: $27,846
• − Mortgage interest: −$20,446
• − Property taxes: −$2,954
• − Insurance: −$1,825
• − Repairs & maintenance: −$2,228
• − Management: −$2,228
• − Depreciation: −$10,618
• Taxable loss: −$12,452
• Est. tax savings @ 24.0%: +$2,988
• After-tax cash flow: $-2,761/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: Waterford School District
• NCES district ID: 2635310
• Math proficiency: 26% ▼ -5.00%
• Reading proficiency: 42% ▼ -1.00%
• Median HH income: $55,581
• Composite: 29.99/100
• National rank: #6364
• State rank: #285 of 540 in MI

Livability — Waterford

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Oakland County · 1,009,092 people
• City population: 70,153
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 24,715
• Household income: $85,709
• Rent vs Own: 10.6% rent · 89.4% own
• Severe rent burden: 330.0

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 (86%)
• Race & ethnicity: White 86% Two or more races 7% Hispanic / Latino 6% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 8% Slovak 4% Serbian 3%
• Foreign-born: 4% · China, Canada
• Languages at home: 94% English-only · Spanish 2% Chinese 1% Arabic 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: ▼ -292.54%
• Current HPI: 204.9674
• Rent YoY: —
• 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

+231.8% since first listed

6 events — show timeline

• 2026-04-21 Pending — REALCOMP
• 2026-04-21 Pending — MiRealSource-MiMLS
• 2026-04-15 Listed $365,000 REALCOMP
• 2026-04-15 Listed $365,000 MiRealSource-MiMLS
• 2000-11-01 Sold (Public Records) $177,900 Public Records
• 2000-01-20 Sold (Public Records) $110,000 Public Records

Property tax history

+4.5%/yr

Latest (2025): $2,954 · +12.2% YoY. Source: county tax records.