705 Preston Ct · Rochester Hills, MI 48307 4596

$299,999

3 bd · 2.5 ba · 1,668 sqft · Condo public records · 27 Days on market

Built 1994 $387/mo HOA · 16% of rent

---

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 +7.7/30.0
• ARV discount +7.5/15.0
• Schools +5.9/10.0
• Appreciation +5.0/10.0
• Livability +3.9/5.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• DSCR +1.8/10.0

Listing remarks

Welcome home to easy living in the highly desirable Barclay community of Rochester Hills, served by top-rated Rochester Schools! This charming 3-bedroom colonial-style condo perfectly blends the convenience of city living with the peaceful feel of a private, wooded retreat. Step inside and enjoy sun-filled rooms with scenic views from nearly every window. The cathedral-ceiling living room is both cozy and impressive, featuring a gas fireplace that's perfect for relaxing evenings or entertaining guests. The first-floor primary suite offers a private bath, with Newer "walk in" shower and stool, and generous closet space, while an additional first-floor bedroom adds flexibility for g

Key facts

• Barclay community
• Sun filled rooms
• Gas fireplace

Tags

• BARCLAY COMMUNITY
• TOP RATED ROCHESTER SCHOOLS
• SUN FILLED ROOMS
• CATHEDRAL CEILING LIVING ROOM
• GAS FIREPLACE
• FIRST FLOOR PRIMARY SUITE

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $300k.

Deal economics

• At list price, monthly cash flow is $-346 ($-4k/yr) — negative.
• To cash-flow at today's rent, offer at most $239k (20.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $245k (18.3% below list).
• Recommended offer: $239k (20.4% below list) — sets the bar for cash-flow.
• Cap rate 4.9% vs local median 3.2% in Rochester Hills — 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 77/100 on livability (#127 in MI, #3,163 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: health & safety D, amenities F, commute F.
• Rochester Community School District (suburban): math 60% / reading 69% proficiency, ranked #21 of 540 in MI (top 4%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 10% free/reduced lunch — higher-income household profile.
• Market conditions: 1 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 4d on market — plan ~1-2 weeks tenant-placement turnaround); 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).

Forward outlook

• In year one you build about $11k of equity ($2k loan paydown + $9k appreciation (3.0% local appreciation)).
• Oakland County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• By year 4, paydown + projected appreciation supports a ~$38k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($295k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 29y 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.

Recommended offer $238,896 (20.4% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.82% ✗
• Cap rate: 4.91%
• Cash-on-cash: -4.94%
• DSCR: 0.78
• GRM: 10.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 3.0%
• Equity multiple: 1.17×
• Total profit: $14,274
• Equity at exit: $134,893

10-year hold

• IRR: 6.4%
• Equity multiple: 1.98×
• Total profit: $81,962
• Equity at exit: $207,885

Cash invested: $84,000 (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 48307 4596

• Active inventory: 1
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,450 high
• Mortgage (P&I): −$1,573
• Tax from tax record: −$196 /mo · $2,354/yr
• Insurance: −$125
• HOA: −$387
• Vacancy / Maint / Mgmt: −$515
• Net cashflow: $-346

Break-even live

Break-even rent $2,888

Max offer price $238,896

Occupancy floor —

Sensitivity live

Price	-10% $-176	-5% $-261	+0% $-346	+5% $-431	+10% $-516
Rent	-10% $-539	-5% $-443	+0% $-346	+5% $-249	+10% $-152
Rate	-1.0pp $-195	-0.5pp $-270	base $-346	+0.5pp $-424	+1.0pp $-503

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: $75,000
• Closing costs: $9,000
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
716 Eton Ct Rochester Hills, MI	2.0	3.0	1614	$2,300	$1.43	25d	1	0.04mi
501 Plymouth Ct #28 Rochester Hills, MI	2.0	2.5	1416	$2,450	$1.73	0d	1	0.17mi
2845 Hartwick Dr Rochester, MI	3.0	3.5	1805	$2,800	$1.55	15d	1	0.41mi
951 Barclay Cir Rochester Hills, MI	3.0	4.0	1960	$2,995	$1.53	15d	1	0.48mi
643 Dorchester Dr Rochester Hills, MI	1.0–3.0	1.0–2.5	1125	$2,090	$1.86	0d	15	0.51mi
1401 S Rochester Rd Rochester Hills, MI	3.0	1.0–2.0	1011	$2,250	$2.23	44d	4	1.16mi
1401 S Rochester Rd Rochester Hills, MI	3.0	1.0–2.0	1024	$2,600	$2.54	0d	7	1.16mi
1483 Colony Dr Rochester Hills, MI	3.0	1.5	1603	$2,500	$1.56	25d	1	1.18mi
3465 Hazelton Ave Rochester Hills, MI	3.0	1.5	1240	$3,690	$2.98	3d	1	1.27mi
1560 Meadow Side Dr Rochester Hills, MI	2.0	2.0	1078	$1,900	$1.76	0d	1	1.36mi
2800 Overlook Dr Rochester Hills, MI	1.0–2.0	1.0–2.0	853	$1,833	$2.15	0d	12	1.36mi
2740 Upper Ridge Dr Rochester Hills, MI	2.0	2.0	1093	$3,480	$3.18	3d	1	1.39mi
3113 Emmons Ave Rochester Hills, MI	2.0	2.0	1200	$1,800	$1.50	17d	1	1.42mi
786 Lawton Ct Rochester Hills, MI	1.0–3.0	1.0–1.5	1050	$1,890	$1.80	0d	6	1.45mi

HOA detail condo

• Monthly dues: $387 · $4,644/yr
• Likely covers: gas
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 14 events

1. 2026-03-12
   soldstatus $286,500
2. 2026-02-08
   status Pending
3. 2026-01-31
   price $299,999
4. 2026-01-12
   listed $310,000 Active
5. 2026-01-12
   historical
6. 2026-01-12
   historical
7. 2025-11-24
   price $325,000
8. 2025-11-24
   price $325,000
9. 2025-11-11
   listed $340,000 Active
10. 2025-11-11
    listed $340,000 Active
11. 1998-03-26
    soldstatus $155,000
12. 1997-10-01
    soldstatus $155,000
13. 1997-08-10
    listed $159,750
14. 1994-12-13
    soldstatus $122,900

ⓘ 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: $2,354 · $196/mo
• Projected year-2 tax: $3,487 · $291/mo
• Expected delta: +$1,133/yr (+$94/mo · 48.1%)

ⓘ 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 3/10 Moderate 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $29,401
• − Mortgage interest: −$16,805
• − Property taxes: −$2,354
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,352
• − Management: −$2,352
• − HOA: −$4,644
• − Depreciation: −$8,727
• Taxable loss: −$9,334
• Est. tax savings @ 24.0%: +$2,240
• After-tax cash flow: $-1,911/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: Rochester Community School District
• NCES district ID: 2629940
• Math proficiency: 60% ▼ -9.00%
• Reading proficiency: 69% ▼ -4.00%
• Median HH income: $89,242
• Composite: 58.53/100
• National rank: #994
• State rank: #21 of 540 in MI

Livability — Rochester Hills

• Score: 77/100
• State rank: #127
• US rank: #3163

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rochester Hills, MI

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%

Not yet ingested

• Political lean: —
• Race & ethnicity: —
• Common origin: —
• Civics: —

Market trends

• HPI YoY: —
• Current HPI: —
• 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

+133.1% since first listed

14 events — show timeline

• 2026-03-12 Sold (Public Records) $286,500 Public Records
• 2026-02-08 Pending — MiRealSource-MiMLS
• 2026-01-31 Price Changed $299,999 MiRealSource-MiMLS
• 2026-01-12 Listing Removed — REALCOMP
• 2026-01-12 Listing Removed — MiRealSource-MiMLS
• 2026-01-12 Listed $310,000 MiRealSource-MiMLS
• 2025-11-24 Price Changed $325,000 MiRealSource-MiMLS
• 2025-11-24 Price Changed $325,000 REALCOMP
• 2025-11-11 Listed $340,000 REALCOMP
• 2025-11-11 Listed $340,000 MiRealSource-MiMLS
• 1998-03-26 Sold (Public Records) $155,000 Public Records
• 1997-10-01 Sold (MLS) $155,000 REALCOMP
• 1997-08-10 Listed $159,750 REALCOMP
• 1994-12-13 Sold (Public Records) $122,900 Public Records

Property tax history

+1.9%/yr

Latest (2025): $2,354 · +4.3% YoY. Source: county tax records.