208 Brittain Dr · Orion, MI 48362

$269,900

2 bd · 1.0 ba · 396 sqft · SingleFamily public records · 15 Days on market

Built 1935 2,178 sqft lot

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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).

• ARV discount +7.5/15.0
• Schools +5.1/10.0
• Cash flow +4.9/30.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.4/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

45 Feet Of Frontage On Lake Orion. Clean Home & Maintenance Free Exterior Home Offers The Best Of Both Worlds. Access To The All Popular & All Sports Lake Orion, Yet Tucked Away In A Quiet Bay. Lake Views From Master Bedroom Living Room.

Key facts

• 2,178 sq ft lot
• Built 1935
• Listed 15 days

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer; Water and sewer available
• Home design: Single-family residence; One level; Ground-level entry with steps
• Construction: Vinyl siding; Block foundation; Asphalt roof; Built area above grade: 900 (finished); Finished below-grade area: 396
• Exterior features: Covered porch; Paved road access; Lake Orion waterfront / lakefront location

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Full, partially finished basement with walk-out access; Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $270k.

Deal economics

• At list price, monthly cash flow is $-652 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $155k (42.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $146k (45.8% below list).
• Recommended offer: $146k (45.8% 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; 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 $8k 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

• It's been on market 15 days — a 2% lower offer ($266k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 29y ago; this cycle's ask is 146% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $130k; list at $270k implies a 108% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $146,212 (45.8% 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 1935 — 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. This sits on a lake — are riparian / water-frontage rights deeded with the parcel? Any dock permits, shoreline easements, or HOA water-use restrictions?
6. What's the documented flood / surge / shoreline-erosion history here (FEMA AND non-FEMA — e.g., storm surge, creek backup, septic-field saturation)?
7. Any water-quality or seasonal algae-bloom issues that affect tenant satisfaction or short-term-rental demand?
8. 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.
9. 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.
10. 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: 0.54% ✗
• Cap rate: 3.40%
• Cash-on-cash: -10.35%
• DSCR: 0.54
• GRM: 15.4

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: -35.0%
• Equity multiple: -0.13×
• Total profit: $-85,257
• Equity at exit: $40,243

10-year hold

• IRR: -46.1%
• Equity multiple: -0.69×
• Total profit: $-127,745
• Equity at exit: $23,336

Cash invested: $75,572 (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: 15.4×

Monthly cashflow live

• Estimated rent: $1,462 medium
• Mortgage (P&I): −$1,415
• Tax from tax record: −$279 /mo · $3,347/yr
• Insurance: −$112
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $-652

Break-even live

Break-even rent $2,287

Max offer price $154,771

Occupancy floor —

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: $67,475
• Closing costs: $8,097
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-06-18
   days on market $269,900 Active 15 DOM
2. 2026-06-17
   days on market $269,900 Active 14 DOM
3. 2026-06-16
   days on market $269,900 Active 13 DOM
4. 2026-06-15
   days on market $269,900 Active 12 DOM
5. 2026-06-13
   days on market $269,900 Active 10 DOM
6. 2026-06-09
   days on market $269,900 Active 6 DOM
7. 2026-06-08
   days on market $269,900 Active 5 DOM
8. 2026-06-07
   days on market $269,900 Active 4 DOM
9. 2026-06-04
   remarks 241-char remark
10. 2026-06-04
    listed $269,900 Active 1 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: $3,347 · $279/mo
• Projected year-2 tax: $3,752 · $313/mo
• Expected delta: +$405/yr (+$34/mo · 12.1%)

ⓘ 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 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: $17,545
• − Mortgage interest: −$15,119
• − Property taxes: −$3,347
• − Insurance: −$1,350
• − Repairs & maintenance: −$1,404
• − Management: −$1,404
• − Depreciation: −$7,852
• Taxable loss: −$12,929
• Est. tax savings @ 24.0%: +$3,103
• After-tax cash flow: $-4,718/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

+431.3% since first listed

13 events — show timeline

• 2026-06-03 Relisted — REALCOMP
• 2026-06-03 Relisted — MiRealSource-MiMLS
• 2026-05-01 Listing Removed — MiRealSource-MiMLS
• 2026-05-01 Price Changed $269,900 MiRealSource-MiMLS
• 2026-05-01 Price Changed $269,900 REALCOMP
• 2026-04-29 Coming Soon $225,000 MiRealSource-MiMLS
• 2001-07-25 Sold (Public Records) $130,000 Public Records
• 1998-01-02 Listing Removed — REALCOMP
• 1997-10-01 Listed $109,900 REALCOMP
• 1997-09-23 Listing Removed — REALCOMP
• 1997-06-23 Listed $119,900 REALCOMP
• 1991-08-13 Sold (Public Records) $65,000 Public Records
• 1991-06-10 Sold (Public Records) $50,800 Public Records

Property tax history

+6.3%/yr

Latest (2025): $3,347 · +7.8% YoY. Source: county tax records.