490 Glenn Ct · Lake Orion, MI 48362

$349,900

4 bd · 2.0 ba · 1,785 sqft · SingleFamily public records · 2 Days on market

Built 1975 0.25 ac lot Est $332k · 5% over

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• ARV discount +5.1/15.0
• Schools +5.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

What an incredible opportunity to own a beautiful home in the highly sought-after Village of Lake Orion! Enjoy the convenience of walking to downtown where you'll find outstanding restaurants, boutique shopping, and lively music venues in this vibrant, thriving community. This charming property backs directly to a picturesque Village park featuring a playground and baseball field - perfect for relaxing on your deck while watching T-ball or little league games, or simply enjoying the energy of the neighborhood. This well-designed bi-level home offers a fantastic use of space throughout. A stamped concrete walkway and welcoming porch lead you into a bright foyer with warm hardwood flooring. The upper level features a stunning kitchen with oak cabinetry, granite countertops, and stainless-steel appliances. The kitchen opens to a lovely dining area with a sliding door leading to the back deck - ideal for entertaining or enjoying quiet evenings outdoors. Just steps away, the sun-filled living room provides a comfortable and inviting gathering space. Two bedrooms and a beautifully updated full bathroom complete this level. The daylight lower level offers an additional living space that flows seamlessly from the main floor. Here you'll find a spacious family room with luxury vinyl flooring and a private primary bedroom suite. The suite includes a large walk-in closet and an updated bathroom with a walk-in shower. Recent updates include the dimensional roof, windows, flooring, bathrooms, countertops, carpeting, generator ready and more. Outside, you'll appreciate the oversized 24 x 24 insulated and heated detached garage, expansive driveway for extra parking, and a privacy-fenced backyard featuring a paver patio, 10 x 12 shed, and firepit. This home truly has it all - move right in and enjoy summer in Lake Orion!

Key facts

• Hardwood flooring
• Bright foyer
• Oak cabinetry

Tags

• STAMPED CONCRETE WALKWAY
• WELCOMING PORCH
• BRIGHT FOYER
• HARDWOOD FLOORING
• STUNNING KITCHEN
• OAK CABINETRY

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $350k.

Deal economics

• At list price, monthly cash flow is $2k ($18k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $350k).
• Cap rate 11.4% vs local median 4.7% in Lake Orion — 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 80/100 on livability (#77 in MI, #1,679 nationally) — a professional / high-income tenant draw. Strengths: employment A+, housing A+, cost of living A; Watch: amenities F, commute F.
• 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; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 0d 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 $2k of loan paydown is wiped out by about $10k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $98k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 31y 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 $109k; list at $350k implies a 221% gain — meaningful room to come down on a strong offer.

Recommended offer $349,900

Questions for the listing agent

1. Built in 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.35% ✓
• Cap rate: 11.44%
• Cash-on-cash: 18.39%
• DSCR: 1.82
• GRM: 6.2

CMA / ARV

• ARV (on-the-fly): $332,010
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
490 Glenn Ct	0.00mi	3/2.0 (-1)	1,785 (0%)	1mo	$350,000	$196	94
400 E Flint St	0.14mi	4/1.5	1,872 (+5%)	4mo	$290,000	$155	80
413 Newton Dr	0.28mi	4/3.0	1,700 (-5%)	3mo	$445,000	$262	72
577 Bagley St	0.12mi	4/1.5	1,526 (-14%)	8mo	$330,100	$216	61
293 Clairemont Dr	0.43mi	3/1.5 (-1)	1,716 (-4%)	7mo	$320,000	$186	60
229 E Jackson St	0.33mi	4/2.0	2,004 (+12%)	5mo	$215,000	$107	60
147 N Broadway St	0.41mi	4/2.5	1,980 (+11%)	3mo	$349,000	$176	58
768 Pleasant Rdg	0.72mi	3/2.0 (-1)	1,760 (-1%)	3mo	$325,000	$185	57
216 E Flint St	0.23mi	4/1.0	1,536 (-14%)	8mo	$278,000	$181	55
948 Mcclellan St	0.51mi	3/2.0 (-1)	1,884 (+6%)	9mo	$340,000	$180	54
21 N Andrews St	0.61mi	4/2.5	1,648 (-8%)	5mo	$310,000	$188	52
1155 Seabury Dr	0.59mi	3/1.0 (-1)	1,568 (-12%)	3mo	$315,000	$201	41

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: 10.1%
• Equity multiple: 1.40×
• Total profit: $38,871
• Equity at exit: $52,171

10-year hold

• IRR: 19.2%
• Equity multiple: 2.60×
• Total profit: $156,787
• Equity at exit: $30,253

Cash invested: $97,972 (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: 6.2×

Monthly cashflow live

• Estimated rent: $4,724 medium
• Mortgage (P&I): −$1,835
• Tax from tax record: −$250 /mo · $2,998/yr
• Insurance: −$146
• HOA: −$0
• Vacancy / Maint / Mgmt: −$992
• Net cashflow: $1,501

Break-even live

Break-even rent $2,823

Max offer price $349,900

Occupancy floor 63%

Sensitivity live

Price	-10% $1,699	-5% $1,600	+0% $1,501	+5% $1,402	+10% $1,303
Rent	-10% $1,128	-5% $1,315	+0% $1,501	+5% $1,688	+10% $1,874
Rate	-1.0pp $1,677	-0.5pp $1,590	base $1,501	+0.5pp $1,411	+1.0pp $1,318

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: $87,475
• Closing costs: $10,497
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
442 Mystic Cove Ln Lake Orion, MI	2.0–4.0	2.0–3.0	1989	$5,850	$2.94	0d	4	0.44mi
391 Shady Oaks St Lake Orion, MI	3.0	2.0	1920	$2,995	$1.56	0d	1	1.40mi
391 Shady Oaks St Lake Orion, MI	3.0	2.0	1920	$2,995	$1.56	11d	1	1.40mi

Listing history 8 events

1. 2026-04-24
   status Pending 1836-char remark

   Show marketing remark (1836 chars)

   What an incredible opportunity to own a beautiful home in the highly sought-after Village of Lake Orion! Enjoy the convenience of walking to downtown where you'll find outstanding restaurants, boutique shopping, and lively music venues in this vibrant, thriving community. This charming property backs directly to a picturesque Village park featuring a playground and baseball field - perfect for relaxing on your deck while watching T-ball or little league games, or simply enjoying the energy of the neighborhood. This well-designed bi-level home offers a fantastic use of space throughout. A stamped concrete walkway and welcoming porch lead you into a bright foyer with warm hardwood flooring. The upper level features a stunning kitchen with oak cabinetry, granite countertops, and stainless-steel appliances. The kitchen opens to a lovely dining area with a sliding door leading to the back deck - ideal for entertaining or enjoying quiet evenings outdoors. Just steps away, the sun-filled living room provides a comfortable and inviting gathering space. Two bedrooms and a beautifully updated full bathroom complete this level. The daylight lower level offers an additional living space that flows seamlessly from the main floor. Here you'll find a spacious family room with luxury vinyl flooring and a private primary bedroom suite. The suite includes a large walk-in closet and an updated bathroom with a walk-in shower. Recent updates include the dimensional roof, windows, flooring, bathrooms, countertops, carpeting, generator ready and more. Outside, you'll appreciate the oversized 24 x 24 insulated and heated detached garage, expansive driveway for extra parking, and a privacy-fenced backyard featuring a paver patio, 10 x 12 shed, and firepit. This home truly has it all - move right in and enjoy summer in Lake Orion!

2. 2026-04-24
   status Pending

   Show marketing remark (1836 chars)

   What an incredible opportunity to own a beautiful home in the highly sought-after Village of Lake Orion! Enjoy the convenience of walking to downtown where you'll find outstanding restaurants, boutique shopping, and lively music venues in this vibrant, thriving community. This charming property backs directly to a picturesque Village park featuring a playground and baseball field - perfect for relaxing on your deck while watching T-ball or little league games, or simply enjoying the energy of the neighborhood. This well-designed bi-level home offers a fantastic use of space throughout. A stamped concrete walkway and welcoming porch lead you into a bright foyer with warm hardwood flooring. The upper level features a stunning kitchen with oak cabinetry, granite countertops, and stainless-steel appliances. The kitchen opens to a lovely dining area with a sliding door leading to the back deck - ideal for entertaining or enjoying quiet evenings outdoors. Just steps away, the sun-filled living room provides a comfortable and inviting gathering space. Two bedrooms and a beautifully updated full bathroom complete this level. The daylight lower level offers an additional living space that flows seamlessly from the main floor. Here you'll find a spacious family room with luxury vinyl flooring and a private primary bedroom suite. The suite includes a large walk-in closet and an updated bathroom with a walk-in shower. Recent updates include the dimensional roof, windows, flooring, bathrooms, countertops, carpeting, generator ready and more. Outside, you'll appreciate the oversized 24 x 24 insulated and heated detached garage, expansive driveway for extra parking, and a privacy-fenced backyard featuring a paver patio, 10 x 12 shed, and firepit. This home truly has it all - move right in and enjoy summer in Lake Orion!

3. 2026-04-22
   listed $349,900 Active 1836-char remark

   Show marketing remark (1836 chars)

   What an incredible opportunity to own a beautiful home in the highly sought-after Village of Lake Orion! Enjoy the convenience of walking to downtown where you'll find outstanding restaurants, boutique shopping, and lively music venues in this vibrant, thriving community. This charming property backs directly to a picturesque Village park featuring a playground and baseball field - perfect for relaxing on your deck while watching T-ball or little league games, or simply enjoying the energy of the neighborhood. This well-designed bi-level home offers a fantastic use of space throughout. A stamped concrete walkway and welcoming porch lead you into a bright foyer with warm hardwood flooring. The upper level features a stunning kitchen with oak cabinetry, granite countertops, and stainless-steel appliances. The kitchen opens to a lovely dining area with a sliding door leading to the back deck - ideal for entertaining or enjoying quiet evenings outdoors. Just steps away, the sun-filled living room provides a comfortable and inviting gathering space. Two bedrooms and a beautifully updated full bathroom complete this level. The daylight lower level offers an additional living space that flows seamlessly from the main floor. Here you'll find a spacious family room with luxury vinyl flooring and a private primary bedroom suite. The suite includes a large walk-in closet and an updated bathroom with a walk-in shower. Recent updates include the dimensional roof, windows, flooring, bathrooms, countertops, carpeting, generator ready and more. Outside, you'll appreciate the oversized 24 x 24 insulated and heated detached garage, expansive driveway for extra parking, and a privacy-fenced backyard featuring a paver patio, 10 x 12 shed, and firepit. This home truly has it all - move right in and enjoy summer in Lake Orion!

4. 2026-04-22
   listed $349,900 Active

   Show marketing remark (1836 chars)

   What an incredible opportunity to own a beautiful home in the highly sought-after Village of Lake Orion! Enjoy the convenience of walking to downtown where you'll find outstanding restaurants, boutique shopping, and lively music venues in this vibrant, thriving community. This charming property backs directly to a picturesque Village park featuring a playground and baseball field - perfect for relaxing on your deck while watching T-ball or little league games, or simply enjoying the energy of the neighborhood. This well-designed bi-level home offers a fantastic use of space throughout. A stamped concrete walkway and welcoming porch lead you into a bright foyer with warm hardwood flooring. The upper level features a stunning kitchen with oak cabinetry, granite countertops, and stainless-steel appliances. The kitchen opens to a lovely dining area with a sliding door leading to the back deck - ideal for entertaining or enjoying quiet evenings outdoors. Just steps away, the sun-filled living room provides a comfortable and inviting gathering space. Two bedrooms and a beautifully updated full bathroom complete this level. The daylight lower level offers an additional living space that flows seamlessly from the main floor. Here you'll find a spacious family room with luxury vinyl flooring and a private primary bedroom suite. The suite includes a large walk-in closet and an updated bathroom with a walk-in shower. Recent updates include the dimensional roof, windows, flooring, bathrooms, countertops, carpeting, generator ready and more. Outside, you'll appreciate the oversized 24 x 24 insulated and heated detached garage, expansive driveway for extra parking, and a privacy-fenced backyard featuring a paver patio, 10 x 12 shed, and firepit. This home truly has it all - move right in and enjoy summer in Lake Orion!

5. 1995-08-10
   soldstatus $108,900
6. 1995-07-14
   soldstatus $108,900
7. 1995-06-21
   historical
8. 1995-06-06
   listed $109,900

ⓘ 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: $2,998 · $250/mo
• Projected year-2 tax: $4,193 · $349/mo
• Expected delta: +$1,195/yr (+$100/mo · 39.9%)

ⓘ 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: $56,685
• − Mortgage interest: −$19,600
• − Property taxes: −$2,998
• − Insurance: −$1,750
• − Repairs & maintenance: −$4,535
• − Management: −$4,535
• − Depreciation: −$10,179
• Taxable income: $13,089
• Est. tax owed @ 24.0%: −$3,141
• After-tax cash flow: $14,873/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 — Lake Orion

• Score: 80/100
• State rank: #77
• US rank: #1679

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lake Orion, MI
• 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

+218.4% since first listed

8 events — show timeline

• 2026-04-24 Pending — MiRealSource-MiMLS
• 2026-04-24 Pending — REALCOMP
• 2026-04-22 Listed $349,900 REALCOMP
• 2026-04-22 Listed $349,900 MiRealSource-MiMLS
• 1995-08-10 Sold (Public Records) $108,900 Public Records
• 1995-07-14 Sold (MLS) $108,900 MiRealSource-MiMLS
• 1995-06-21 Listing Removed — MiRealSource-MiMLS
• 1995-06-06 Listed $109,900 MiRealSource-MiMLS

Property tax history

+1.8%/yr

Latest (2025): $2,998 · +2.8% YoY. Source: county tax records.