20 Crescent Lake Rd · Waterford, MI 48327

$210,000

3 bd · 1.5 ba · 1,279 sqft · SingleFamily public records · 20 Days on market

Built 1926 0.41 ac lot $164/sqft · 10% below area Est $234k · 10% under

---

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 +17.4/30.0
• ARV discount +12.1/15.0
• DSCR +5.4/10.0
• 1% rule +3.5/10.0
• 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

CORNER LOT WITH TREED LOT, FENCED AND LANDSCAPED , A 11/2 STORY BUNGALOW MAINTENANCE FREE EXTERIOR, ON A DOUBLE FENCEDLOT, 3 BEDROOMS UPSTAIR WITH NEW 1/2 BATH . .LARGE LIVING ROOM, ,FORMAL DINING ROOM AND DARK, OAK KITCHEN CABINRTS NEW FULL BATH ON FIRST FLOOR, DETACHED 2 CAR GARAGE WITH OIL HEATER , AND LARGE SHED, LARGE DECK FOR ENTERTAINING, LAKE PRIVILEDGES WITH BEACH AND BOAT ACCESS. CLOSE TO SHOPPING AND MAJOR HIGHWAYS , AGENT TO BE PRESENT FOR ALL SHOWINGS AND INSPECTIONS SELLER HAS CAMERAS AND SOUND ON IN HOME SELLER WILL LOOK AT ALL REASONABLE OFFER

Key facts

• 0.41 acre lot
• 2 garage spots
• Built 1926

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $158 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $178k (15.1% below list).
• Recommended offer: $178k (15.1% below list) — sets the bar for 1% rule.

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: 99 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals leasing fast (median 3d 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 $1k of loan paydown is wiped out by about $6k 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 20 days — a 2% lower offer ($207k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 28y ago; this cycle's ask has dropped $31k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $92k; list at $210k implies a 130% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $178,346 (15.1% below list)

Questions for the listing agent

1. Built in 1926 — 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. 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?
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: 0.85% ✗
• Cap rate: 7.20%
• Cash-on-cash: 3.23%
• DSCR: 1.14
• GRM: 9.8

CMA / ARV

• ARV (median comp): $233,712
• List price: $210,000
• Delta: -10.15%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4840 Hobson Ave	0.13mi	3/2.0	1,216 (-5%)	6mo	$235,000	$193	78
640 Crescent Lake Rd	0.24mi	3/2.0	1,336 (+4%)	4mo	$275,000	$206	76
5184 Denwood St	0.17mi	3/2.5	1,350 (+6%)	4mo	$290,000	$215	76
85 Doremus Ave	0.52mi	4/2.0 (+1)	1,334 (+4%)	3mo	$255,000	$191	59
4841 Fenmore Ave	0.24mi	2/1.0 (-1)	1,162 (-9%)	9mo	$140,000	$120	59
4771 Fiddle Ave	0.26mi	3/1.0	1,106 (-14%)	5mo	$270,000	$244	59
5567 Eldridge Dr	0.67mi	3/2.0	1,200 (-6%)	9mo	$194,995	$162	49
542 Springle Dr	0.72mi	3/2.5	1,200 (-6%)	8mo	$299,900	$250	46
261 Hershey Blvd	0.60mi	3/1.5	1,118 (-13%)	7mo	$265,000	$237	45
5524 Aylesbury Dr	0.60mi	3/2.0	1,435 (+12%)	8mo	$260,000	$181	43
4935 Pontiac Lake Rd	0.58mi	2/1.0 (-1)	1,096 (-14%)	5mo	$198,000	$181	38
544 Springle Dr	0.72mi	2/2.5 (-1)	1,150 (-10%)	7mo	$275,000	$239	34

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: -11.3%
• Equity multiple: 0.59×
• Total profit: $-24,045
• Equity at exit: $31,312

10-year hold

• IRR: -2.1%
• Equity multiple: 0.86×
• Total profit: $-8,349
• Equity at exit: $18,157

Cash invested: $58,800 (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: 99
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,783 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$62 /mo · $743/yr
• Insurance: −$88
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $158

Break-even live

Break-even rent $1,583

Max offer price $210,000

Occupancy floor 86%

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: $52,500
• Closing costs: $6,300
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
131 Doremus Ave Waterford, MI	3.0	1.0	1072	$1,800	$1.68	24d	1	0.45mi
170 Leslie Ln Waterford Twp, MI	1.0–2.0	1.0	875	$1,310	$1.50	2d	5	0.90mi
1346 Hillcrest Dr Waterford, MI	2.0	2.0	1319	$1,850	$1.40	18d	1	0.98mi
5278 Rosamond Ln Waterford Twp, MI	1.0–2.0	1.0–1.5	988	$1,514	$1.53	1d	16	1.11mi
5331 Highland Rd Waterford, MI	2.0	1.0	900	$1,075	$1.19	3d	1	1.17mi
850 Williamsbury Ct Waterford Twp, MI	1.0–2.0	1.0	812	$1,283	$1.58	1d	25	1.23mi

Listing history 22 events

1. 2026-06-18
   days on market $210,000 Active 20 DOM
2. 2026-06-17
   days on market $210,000 Active 19 DOM
3. 2026-06-16
   days on market $210,000 Active 18 DOM
4. 2026-06-15
   days on market $210,000 Active 17 DOM
5. 2026-06-13
   days on market $210,000 Active 15 DOM
6. 2026-06-09
   days on market $210,000 Active 11 DOM
7. 2026-06-08
   days on market $210,000 Active 10 DOM
8. 2026-06-07
   days on market $210,000 Active 9 DOM
9. 2026-06-04
   days on market $210,000 Active 6 DOM
10. 2026-06-03
    days on market $210,000 Active 5 DOM
11. 2026-06-02
    days on market $210,000 Active 4 DOM
12. 2026-06-01
    days on market $210,000 Active 3 DOM
13. 2026-05-31
    days on market $210,000 Active 2 DOM
14. 2026-04-13
    price $210,000 565-char remark

    Show marketing remark (572 chars)

    CORNER LOT WITH TREED LOT, FENCED AND LANDSCAPED , A 11/2 STORY BUNGALOW MAINTENANCE FREE EXTERIOR, ON A DOUBLE FENCEDLOT, 3 BEDROOMS UPSTAIR WITH NEW 1/2 BATH . .LARGE LIVING ROOM, ,FORMAL DINING ROOM AND DARK, OAK KITCHEN CABINRTS NEW FULL BATH ON FIRST FLOOR, DETACHED 2 CAR GARAGE WITH OIL HEATER , AND LARGE SHED, LARGE DECK FOR ENTERTAINING, LAKE PRIVILEDGES WITH BEACH AND BOAT ACCESS. CLOSE TO SHOPPING AND MAJOR HIGHWAYS , AGENT TO BE PRESENT FOR ALL SHOWINGS AND INSPECTIONS SELLER HAS CAMERAS AND SOUND ON IN HOME SELLER WILL LOOK AT ALL REASONABLE OFFER

15. 2026-04-13
    price $210,000 572-char remark

    Show marketing remark (572 chars)

    CORNER LOT WITH TREED LOT, FENCED AND LANDSCAPED , A 11/2 STORY BUNGALOW MAINTENANCE FREE EXTERIOR, ON A DOUBLE FENCEDLOT, 3 BEDROOMS UPSTAIR WITH NEW 1/2 BATH . .LARGE LIVING ROOM, ,FORMAL DINING ROOM AND DARK, OAK KITCHEN CABINRTS NEW FULL BATH ON FIRST FLOOR, DETACHED 2 CAR GARAGE WITH OIL HEATER , AND LARGE SHED, LARGE DECK FOR ENTERTAINING, LAKE PRIVILEDGES WITH BEACH AND BOAT ACCESS. CLOSE TO SHOPPING AND MAJOR HIGHWAYS , AGENT TO BE PRESENT FOR ALL SHOWINGS AND INSPECTIONS SELLER HAS CAMERAS AND SOUND ON IN HOME SELLER WILL LOOK AT ALL REASONABLE OFFER

16. 2025-11-26
    listed $241,000 Active 565-char remark

    Show marketing remark (572 chars)

    CORNER LOT WITH TREED LOT, FENCED AND LANDSCAPED , A 11/2 STORY BUNGALOW MAINTENANCE FREE EXTERIOR, ON A DOUBLE FENCEDLOT, 3 BEDROOMS UPSTAIR WITH NEW 1/2 BATH . .LARGE LIVING ROOM, ,FORMAL DINING ROOM AND DARK, OAK KITCHEN CABINRTS NEW FULL BATH ON FIRST FLOOR, DETACHED 2 CAR GARAGE WITH OIL HEATER , AND LARGE SHED, LARGE DECK FOR ENTERTAINING, LAKE PRIVILEDGES WITH BEACH AND BOAT ACCESS. CLOSE TO SHOPPING AND MAJOR HIGHWAYS , AGENT TO BE PRESENT FOR ALL SHOWINGS AND INSPECTIONS SELLER HAS CAMERAS AND SOUND ON IN HOME SELLER WILL LOOK AT ALL REASONABLE OFFER

17. 2025-11-26
    listed $241,000 Active 572-char remark

    Show marketing remark (572 chars)

    CORNER LOT WITH TREED LOT, FENCED AND LANDSCAPED , A 11/2 STORY BUNGALOW MAINTENANCE FREE EXTERIOR, ON A DOUBLE FENCEDLOT, 3 BEDROOMS UPSTAIR WITH NEW 1/2 BATH . .LARGE LIVING ROOM, ,FORMAL DINING ROOM AND DARK, OAK KITCHEN CABINRTS NEW FULL BATH ON FIRST FLOOR, DETACHED 2 CAR GARAGE WITH OIL HEATER , AND LARGE SHED, LARGE DECK FOR ENTERTAINING, LAKE PRIVILEDGES WITH BEACH AND BOAT ACCESS. CLOSE TO SHOPPING AND MAJOR HIGHWAYS , AGENT TO BE PRESENT FOR ALL SHOWINGS AND INSPECTIONS SELLER HAS CAMERAS AND SOUND ON IN HOME SELLER WILL LOOK AT ALL REASONABLE OFFER

18. 2025-11-21
    historical $241,000 565-char remark

    Show marketing remark (565 chars)

    CORNER LOT WITH TREED LOT, FENCED AND LANDSCAPED , A 11/2 STORY BUNGALOW MAINTENANCE FREE EXTERIOR, ON A DOUBLE FENCEDLOT, 3 BEDROOMS UPSTAIR WITH NEW 1/2 BATH . .LARGE LIVING ROOM, ,FORMAL DINING ROOM AND DARK, OAK KITCHEN CABINRTS NEW FULL BATH ON FIRST FLOOR, DETACHED 2 CAR GARAGE WITH OIL HEATER , AND LARGE SHED, LARGE DECK FOR ENTERTAINING, LAKE PRIVILEDGES WITH BEACH AND BOAT ACCESS. CLOSE TO SHOPPING AND MAJOR HIGHWAYS , AGENT TO BE PRESENT FOR ALL SHOWINGS AND INSPECTIONS SELLER HAS CAMERAS AND SOUND ON IN HOME SELLER WILL LOOK AT ALL REASONABLE OFFER

19. 1999-02-08
    soldstatus $91,500
20. 1998-05-20
    soldstatus $91,500
21. 1998-01-26
    listed $89,900
22. 1993-02-23
    soldstatus $40,000

ⓘ 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: $743 · $62/mo
• Projected year-2 tax: $1,988 · $166/mo
• Expected delta: +$1,246/yr (+$104/mo · 167.7%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥96°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: $21,402
• − Mortgage interest: −$11,763
• − Property taxes: −$743
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,712
• − Management: −$1,712
• − Depreciation: −$6,109
• Taxable loss: −$1,688
• Est. tax savings @ 24.0%: +$405
• After-tax cash flow: $2,304/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

+425.0% since first listed

9 events — show timeline

• 2026-04-13 Price Changed $210,000 MiRealSource-MiMLS
• 2026-04-13 Price Changed $210,000 REALCOMP
• 2025-11-26 Listed $241,000 MiRealSource-MiMLS
• 2025-11-26 Listed $241,000 REALCOMP
• 2025-11-21 Coming Soon $241,000 MiRealSource-MiMLS
• 1999-02-08 Sold (Public Records) $91,500 Public Records
• 1998-05-20 Sold (MLS) $91,500 REALCOMP
• 1998-01-26 Listed $89,900 REALCOMP
• 1993-02-23 Sold (Public Records) $40,000 Public Records

Property tax history

-4.7%/yr

Latest (2025): $743 · -44.0% YoY. Source: county tax records.