1390 Laurel Valley Dr · Waterford, MI 48327

$140,000

2 bd · 1.5 ba · 986 sqft · Condo public records · 9 Days on market

Built 1969 $333/mo HOA · 21% 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 +14.6/30.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• DSCR +4.5/10.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautiful townhouse condo with 2Bedrooms, 1.1 bath for 1st time home buyer or small family. Freshly painted, both bathrooms recently updated, newer kitchen, in-unit laundry. Patio off the dining room for your summer enjoyment. Nice size Living room, bed rooms. Very airy, bright and clean place. BATVAD.

Key facts

• Newer kitchen
• In unit laundry
• $333 HOA

Tags

• IN UNIT LAUNDRY
• PATIO OFF DINING ROOM
• RECENTLY UPDATED BATHROOMS
• NEWER KITCHEN

Property features AI

Finance

• Other: Subdivision: LAUREL VALLEY OCCPN 247; Directions: M59 to Laurel Valley
• HOA & community: Homeowners association with a monthly fee of $333; Pets allowed: cats and dogs (number limit applies)

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Condominium (residential); Two levels; Ground-level entry; Facing direction not specified
• Construction: Brick construction; Asphalt roof; Slab foundation; Built area above grade: 990 square feet
• Exterior features: Patio; Private road frontage; Paved road; Private maintained road

Interior

• Kitchen: Dishwasher; Free-standing electric range; Free-standing refrigerator; Range hood
• Bedrooms: 5 total rooms (includes bedrooms and living areas)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Central air conditioning; Forced air heating (natural gas)
• Interior features: Private entrance; Range hood; Disposal
• Laundry & utility: In-unit laundry (washer and dryer); Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $140k.

Deal economics

• At list price, monthly cash flow is $33 ($400/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).

Location & tenants

• Location reads: area grade D — 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: 102 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); 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 $968 of loan paydown is wiped out by about $4k 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 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 10y 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.
• Current owner paid $60k; list at $140k implies a 135% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $140,000

Questions for the listing agent

1. Built in 1969 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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?
6. 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.
7. 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.
8. 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: 1.13% ✓
• Cap rate: 6.58%
• Cash-on-cash: 1.02%
• DSCR: 1.05
• GRM: 7.3

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: -14.5%
• Equity multiple: 0.48×
• Total profit: $-20,385
• Equity at exit: $20,874

10-year hold

• IRR: -5.6%
• Equity multiple: 0.64×
• Total profit: $-14,289
• Equity at exit: $12,105

Cash invested: $39,200 (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 48327

• Active inventory: 102
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,588 high
• Mortgage (P&I): −$734
• Tax from tax record: −$95 /mo · $1,145/yr
• Insurance: −$58
• HOA: −$333
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $33

Break-even live

Break-even rent $1,545

Max offer price $140,000

Occupancy floor 93%

Sensitivity live

Price	-10% $113	-5% $73	+0% $33	+5% $-6	+10% $-46
Rent	-10% $-92	-5% $-29	+0% $33	+5% $96	+10% $159
Rate	-1.0pp $104	-0.5pp $69	base $33	+0.5pp $-3	+1.0pp $-40

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1407 Laurel Valley Dr Waterford, MI	2.0	1.5	986	$1,550	$1.57	12d	1	0.04mi
125 Edge Waterford Twp, MI	2.0	1.0	530	$1,215	$2.29	0d	55	1.04mi
1643 Alma Ave Waterford, MI	2.0	1.0	706	$1,500	$2.12	7d	1	1.20mi
2557 Desmond Waterford, MI	2.0	1.0	902	$1,595	$1.77	12d	1	1.21mi
6400 Elmwood Dr Waterford, MI	2.0	1.0	838	$1,400	$1.67	19d	1	1.33mi
5331 Highland Rd Waterford, MI	2.0	1.0	900	$1,075	$1.19	5d	1	1.49mi

HOA detail condo

• Monthly dues: $333 · $3,996/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-05-04
   status Pending 303-char remark

   Show marketing remark (303 chars)

   Beautiful townhouse condo with 2Bedrooms, 1.1 bath for 1st time home buyer or small family. Freshly painted, both bathrooms recently updated, newer kitchen, in-unit laundry. Patio off the dining room for your summer enjoyment. Nice size Living room, bed rooms. Very airy, bright and clean place. BATVAD.

2. 2026-05-04
   status Pending

   Show marketing remark (303 chars)

   Beautiful townhouse condo with 2Bedrooms, 1.1 bath for 1st time home buyer or small family. Freshly painted, both bathrooms recently updated, newer kitchen, in-unit laundry. Patio off the dining room for your summer enjoyment. Nice size Living room, bed rooms. Very airy, bright and clean place. BATVAD.

3. 2026-04-27
   historical Accepting Backup Offers 303-char remark

   Show marketing remark (303 chars)

   Beautiful townhouse condo with 2Bedrooms, 1.1 bath for 1st time home buyer or small family. Freshly painted, both bathrooms recently updated, newer kitchen, in-unit laundry. Patio off the dining room for your summer enjoyment. Nice size Living room, bed rooms. Very airy, bright and clean place. BATVAD.

4. 2026-04-27
   historical Active Under Contract

   Show marketing remark (303 chars)

   Beautiful townhouse condo with 2Bedrooms, 1.1 bath for 1st time home buyer or small family. Freshly painted, both bathrooms recently updated, newer kitchen, in-unit laundry. Patio off the dining room for your summer enjoyment. Nice size Living room, bed rooms. Very airy, bright and clean place. BATVAD.

5. 2026-04-24
   listed $140,000 Active 303-char remark

   Show marketing remark (303 chars)

   Beautiful townhouse condo with 2Bedrooms, 1.1 bath for 1st time home buyer or small family. Freshly painted, both bathrooms recently updated, newer kitchen, in-unit laundry. Patio off the dining room for your summer enjoyment. Nice size Living room, bed rooms. Very airy, bright and clean place. BATVAD.

6. 2026-04-24
   listed $140,000 Active

   Show marketing remark (303 chars)

   Beautiful townhouse condo with 2Bedrooms, 1.1 bath for 1st time home buyer or small family. Freshly painted, both bathrooms recently updated, newer kitchen, in-unit laundry. Patio off the dining room for your summer enjoyment. Nice size Living room, bed rooms. Very airy, bright and clean place. BATVAD.

7. 2017-03-27
   soldstatus $59,500
8. 2017-03-27
   soldstatus $59,500
9. 2017-01-30
   soldstatus $59,500 Sold 478-char remark

   Show marketing remark (478 chars)

   Beautiful Townhouse style condo. Features Large Living room that Opens to dining. Features a door wall that opens to a nice semi private patio. Nice updated kitchen with lots of storage. Large first floor laundry. Large Master bedroom with lots of closet space. And good sized spare bedroom. Easy access to all expressways Great Location Shopping, Restaurants, entertainment within walking distance. Low maintenance fees. Why rent when your payment could be less and You own!!!

10. 2017-01-30
    soldstatus $59,500 Closed

    Show marketing remark (478 chars)

    Beautiful Townhouse style condo. Features Large Living room that Opens to dining. Features a door wall that opens to a nice semi private patio. Nice updated kitchen with lots of storage. Large first floor laundry. Large Master bedroom with lots of closet space. And good sized spare bedroom. Easy access to all expressways Great Location Shopping, Restaurants, entertainment within walking distance. Low maintenance fees. Why rent when your payment could be less and You own!!!

11. 2017-01-11
    status Pending

    Show marketing remark (478 chars)

    Beautiful Townhouse style condo. Features Large Living room that Opens to dining. Features a door wall that opens to a nice semi private patio. Nice updated kitchen with lots of storage. Large first floor laundry. Large Master bedroom with lots of closet space. And good sized spare bedroom. Easy access to all expressways Great Location Shopping, Restaurants, entertainment within walking distance. Low maintenance fees. Why rent when your payment could be less and You own!!!

12. 2017-01-11
    status Pending 478-char remark

    Show marketing remark (478 chars)

    Beautiful Townhouse style condo. Features Large Living room that Opens to dining. Features a door wall that opens to a nice semi private patio. Nice updated kitchen with lots of storage. Large first floor laundry. Large Master bedroom with lots of closet space. And good sized spare bedroom. Easy access to all expressways Great Location Shopping, Restaurants, entertainment within walking distance. Low maintenance fees. Why rent when your payment could be less and You own!!!

13. 2016-12-03
    listed $64,900 Active

    Show marketing remark (478 chars)

    Beautiful Townhouse style condo. Features Large Living room that Opens to dining. Features a door wall that opens to a nice semi private patio. Nice updated kitchen with lots of storage. Large first floor laundry. Large Master bedroom with lots of closet space. And good sized spare bedroom. Easy access to all expressways Great Location Shopping, Restaurants, entertainment within walking distance. Low maintenance fees. Why rent when your payment could be less and You own!!!

14. 2016-12-03
    listed $64,900 Active 478-char remark

    Show marketing remark (478 chars)

    Beautiful Townhouse style condo. Features Large Living room that Opens to dining. Features a door wall that opens to a nice semi private patio. Nice updated kitchen with lots of storage. Large first floor laundry. Large Master bedroom with lots of closet space. And good sized spare bedroom. Easy access to all expressways Great Location Shopping, Restaurants, entertainment within walking distance. Low maintenance fees. Why rent when your payment could be less and You own!!!

15. 2002-08-26
    soldstatus $97,500
16. 1994-11-02
    soldstatus $55,000

ⓘ 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: $1,145 · $95/mo
• Projected year-2 tax: $1,650 · $138/mo
• Expected delta: +$506/yr (+$42/mo · 44.2%)

ⓘ 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: $19,051
• − Mortgage interest: −$7,842
• − Property taxes: −$1,145
• − Insurance: −$700
• − Repairs & maintenance: −$1,524
• − Management: −$1,524
• − HOA: −$3,996
• − Depreciation: −$4,073
• Taxable loss: −$1,753
• Est. tax savings @ 24.0%: +$421
• After-tax cash flow: $820/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): 20,960
• Household income: $74,788
• Rent vs Own: 27.8% rent · 72.2% own
• Severe rent burden: 574.0

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 (81%)
• Race & ethnicity: White 81% Two or more races 7% Hispanic / Latino 6% Black 6% Asian 3%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 11% Subsaharan African 5% Slovak 4%
• Foreign-born: 7% · Canada
• Languages at home: 90% English-only · Russian/Polish/Slavic 4% Spanish 2% Other Asian/Pacific 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: ▼ -226.28%
• Current HPI: 201.2139
• 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

+154.5% since first listed

16 events — show timeline

• 2026-05-04 Pending — MiRealSource-MiMLS
• 2026-05-04 Pending — REALCOMP
• 2026-04-27 Contingent — MiRealSource-MiMLS
• 2026-04-27 Contingent — REALCOMP
• 2026-04-24 Listed $140,000 REALCOMP
• 2026-04-24 Listed $140,000 MiRealSource-MiMLS
• 2017-03-27 Sold (Public Records) $59,500 Public Records
• 2017-03-27 Sold (Public Records) $59,500 Public Records
• 2017-01-30 Sold (MLS) $59,500 MiRealSource-MiMLS
• 2017-01-30 Sold (MLS) $59,500 REALCOMP
• 2017-01-11 Pending — MiRealSource-MiMLS
• 2017-01-11 Pending — REALCOMP
• 2016-12-03 Listed $64,900 MiRealSource-MiMLS
• 2016-12-03 Listed $64,900 REALCOMP
• 2002-08-26 Sold (Public Records) $97,500 Public Records
• 1994-11-02 Sold (Public Records) $55,000 Public Records

Property tax history

+0.1%/yr

Latest (2025): $1,145 · +4.3% YoY. Source: county tax records.