804 S Oak Brook Ridge Dr #149 · Rochester Hills, MI 48307

$264,900

3 bd · 1.5 ba · 2,037 sqft · Condo · 27 Days on market

Built 1972 Good condition $485/mo HOA · 15% of rent

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Why this score? — see what drove the C- 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 +18.1/30.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Schools +5.9/10.0
• DSCR +5.7/10.0
• Livability +3.9/5.0
• Condition / age +3.8/5.0
• Rent growth +2.9/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully maintained Rochester Hills condo in the desirable Rochester School District, just steps from the scenic Paint Creek Trail. Recent updates include fresh interior paint, new door walls, new flooring throughout, and modern light fixtures that elevate the home's style and comfort. The floor plan offers three generously sized bedrooms or use as a home office or family room. The charming first-floor lav features barn-door style cabinetry, adding a touch of character. This unit features a fabulous walk-out basement! Enjoy the convenience of a 1-car detached garage, a beautiful community swimming pool, and the benefit of new exterior siding currently being replaced. HOA dues include gas, water, and trash, snow removal--offering added value and ease of living. A rare opportunity in a sought-after location close to parks, bike trails shopping, dining and minutes from Whole Foods and other gourmet markets!

Key facts

• New flooring
• Fresh interior paint
• New door walls

Tags

• SCENIC PAINT CREEK TRAIL
• FRESH INTERIOR PAINT
• NEW DOOR WALLS
• NEW FLOORING
• MODERN LIGHT FIXTURES
• FIRST-FLOOR LAV

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee; Monthly association fee covers gas, insurance, grounds and structure maintenance, sewer, snow removal, trash, and water; Community amenities include a pool and sidewalks

Exterior

• Parking: Detached garage with garage door opener; Parking lot; 1 garage space
• Security: Smoke detectors
• Utilities: Circuit breaker electric panel; Public sewer; Water available; Cable available
• Home design: Residential condominium; Ground-level entry with steps; Brick and wood siding construction; Asphalt roof
• Construction: Brick and wood siding exterior; Asphalt roof; Above-grade finished area present; Below-grade finished area present
• Exterior features: Deck; Patio; Porch; Community in-ground outdoor pool; Sidewalks; Paved road access

Interior

• Kitchen: Free-standing gas range; Range hood; Dishwasher; Disposal; Free-standing refrigerator
• Bedrooms: Total of 8 rooms (bedroom count not specified)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Exhaust/vented exhaust fan; Humidifier; No central cooling
• Interior features: High speed internet; Smart thermostat; Walk-out, daylight, partially finished basement
• Laundry & utility: In-unit laundry room with washer and dryer hookups; Gas dryer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $265k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $232 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $265k).
• Recommended offer: $261k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.3% 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: Rents rising (+1.8%/yr); 208 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent runs 36% of the median local income ($107k/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 $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 27 days — a 2% lower offer ($261k) is reasonable based on typical stale-listing flexibility.
• 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.

Recommended offer $260,926 (1.5% below list)

Questions for the listing agent

1. Built in 1972 — 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. 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. 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: 1.22% ✓
• Cap rate: 7.34%
• Cash-on-cash: 3.76%
• DSCR: 1.17
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.78% rent growth · sell at horizon

5-year hold

• IRR: -12.0%
• Equity multiple: 0.57×
• Total profit: $-31,705
• Equity at exit: $39,497

10-year hold

• IRR: -5.0%
• Equity multiple: 0.69×
• Total profit: $-22,823
• Equity at exit: $22,904

Cash invested: $74,172 (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

• Rents YoY: 1.8%
• Active inventory: 208
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $3,225 medium
• Mortgage (P&I): −$1,389
• Tax est. 1.5%: −$331 /mo · $3,974/yr
• Insurance: −$110
• HOA: −$485
• Vacancy / Maint / Mgmt: −$677
• Net cashflow: $232

Break-even live

Break-even rent $2,931

Max offer price $264,900

Occupancy floor 88%

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: $66,225
• Closing costs: $7,947
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1467 Rochdale Pond Ct Rochester Hills, MI	4.0	3.0	2510	$4,375	$1.74	24d	1	1.06mi
1947 N Fairview Ln Rochester Hills, MI	4.0	2.5	2616	$3,500	$1.34	5d	1	1.31mi
112 Walnut Blvd Rochester, MI	1.0–3.0	1.0–2.0	1171	$3,400	$2.90	44d	3	1.43mi
266 Mill St Rochester, MI	2.0	2.5	1594	$3,000	$1.88	24d	1	1.50mi

HOA detail condo

• Monthly dues: $485 · $5,820/yr
• Likely covers: watertrashgassnow removalpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 16 events

1. 2026-06-18
   days on market $264,900 Active 27 DOM
2. 2026-06-17
   days on market $264,900 Active 26 DOM
3. 2026-06-16
   pricedays on market $264,900 Active 25 DOM
4. 2026-06-15
   days on market $274,000 Active 24 DOM
5. 2026-06-13
   days on market $274,000 Active 22 DOM
6. 2026-06-13
   days on market $274,000 Active 21 DOM
7. 2026-06-09
   days on market $274,000 Active 18 DOM
8. 2026-06-08
   days on market $274,000 Active 17 DOM
9. 2026-06-07
   days on market $274,000 Active 16 DOM
10. 2026-06-04
    days on market $274,000 Active 13 DOM
11. 2026-06-03
    days on market $274,000 Active 12 DOM
12. 2026-06-02
    days on market $274,000 Active 11 DOM
13. 2026-06-01
    days on market $274,000 Active 10 DOM
14. 2026-05-31
    days on market $274,000 Active 9 DOM
15. 2026-05-22
    listed $274,000 Active

    Show marketing remark (920 chars)

    Beautifully maintained Rochester Hills condo in the desirable Rochester School District, just steps from the scenic Paint Creek Trail. Recent updates include fresh interior paint, new door walls, new flooring throughout, and modern light fixtures that elevate the home's style and comfort. The floor plan offers three generously sized bedrooms or use as a home office or family room. The charming first-floor lav features barn-door style cabinetry, adding a touch of character. This unit features a fabulous walk-out basement! Enjoy the convenience of a 1-car detached garage, a beautiful community swimming pool, and the benefit of new exterior siding currently being replaced. HOA dues include gas, water, and trash, snow removal--offering added value and ease of living. A rare opportunity in a sought-after location close to parks, bike trails shopping, dining and minutes from Whole Foods and other gourmet markets!

16. 2026-05-22
    listed $274,000 Active 920-char remark

    Show marketing remark (920 chars)

    Beautifully maintained Rochester Hills condo in the desirable Rochester School District, just steps from the scenic Paint Creek Trail. Recent updates include fresh interior paint, new door walls, new flooring throughout, and modern light fixtures that elevate the home's style and comfort. The floor plan offers three generously sized bedrooms or use as a home office or family room. The charming first-floor lav features barn-door style cabinetry, adding a touch of character. This unit features a fabulous walk-out basement! Enjoy the convenience of a 1-car detached garage, a beautiful community swimming pool, and the benefit of new exterior siding currently being replaced. HOA dues include gas, water, and trash, snow removal--offering added value and ease of living. A rare opportunity in a sought-after location close to parks, bike trails shopping, dining and minutes from Whole Foods and other gourmet markets!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $38,701
• − Mortgage interest: −$14,839
• − Property taxes: −$3,974
• − Insurance: −$1,324
• − Repairs & maintenance: −$3,096
• − Management: −$3,096
• − HOA: −$5,820
• − Depreciation: −$7,706
• Taxable loss: −$1,154
• Est. tax savings @ 24.0%: +$277
• After-tax cash flow: $3,063/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 · 1 photo

Good 75/100 Cosmetic rehab

This well-maintained townhouse in Rochester Hills offers a good condition with recent updates and a desirable location. It is ready for a new owner with minor cosmetic improvements to enhance its curb appeal and value.

Value-add opportunities

• Both Paint exterior siding — Enhances curb appeal and value
• Both Replace exterior siding — Improves home's appearance and value
• Both Landscaping improvements — Enhances curb appeal and value

Renovation cost estimate screening

Value-add ROI direction

• Both Paint exterior siding — Enhances curb appeal and value ↑
• Both Replace exterior siding — Improves home's appearance and value ↑
• Both Landscaping improvements — Enhances curb appeal and value ↑

ⓘ 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: 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
• County: Oakland County · 1,009,092 people
• City population: 44,714
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 44,714
• Household income: $106,576
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 926.0

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 (74%)
• Race & ethnicity: White 74% Asian 14% Two or more races 6% Black 4% Hispanic / Latino 4%
• Common ancestry: Romanian 9% Lithuanian 3% Slovak 2%
• Foreign-born: 19% · Canada, China, South Korea
• Languages at home: 76% English-only · Other Indo-European 9% Spanish 3% Arabic 2%

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: ▼ -339.13%
• Current HPI: 188.8794
• Rent YoY: ▲ 1.78%
• 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

• 2026-05-22 Listed $274,000 MiRealSource-MiMLS
• 2026-05-22 Listed $274,000 REALCOMP