2512 Grandview Blvd · Waterford, MI 48329

$280,000

2 bd · 2.0 ba · 1,146 sqft · SingleFamily public records · 16 Days on market

Built 1935 0.26 ac lot Est $266k · 5% over

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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 +5.1/15.0
• Cash flow +4.7/30.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +0.8/10.0
• DSCR +0.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Nestled on a spacious corner lot with access to all sports Williams Lake, this home provides year-round enjoyment whether it's boating in the summer or ice fishing in the winter. Located in a quiet, family friendly neighborhood, this charming 3-bedroom, 2-bath ranch features an attached insulated 2-car garage. This inviting home offers an open-concept floorplan perfect for everyday living and entertaining. The spacious living room flows seamlessly into the dining area and updated kitchen, complete with modern cabinets, countertops, backsplash, and flooring. Recent mechanical updates provide peace of mind, including a new furnace, central air conditioner, humidifier, gas hot water tank, and

Key facts

• 0.26 acre lot
• 2 garage spots
• Built 1935

Property features AI

Finance

• Other: Lot frontage approximately 50 feet; Lot acreage approx. 0.26 acres; Located in Lake Williams Woodlands subdivision; south of Williams Lake Rd / west of Airport Rd

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Natural gas; Gas water heater; Public sewer (implied)
• Home design: Residential single-story; Built in 1935; Below-grade living space (finished area in basement)
• Construction: Vinyl siding construction; Basement foundation
• Exterior features: Vinyl siding; Patio; All-sports lake access and lake/river privileges (Williams Lake); Paved street

Interior

• Kitchen: Kitchen on entry level (15 x 9); Range/Oven; Microwave; Refrigerator; Dishwasher
• Bedrooms: Primary bedroom on entry level (15 x 15); Second bedroom on entry level (9 x 14); Third bedroom on entry level (approx. 13 wide)
• Bathrooms: Two full bathrooms on entry level (each approx. 9 x 5)
• Heating & cooling: Forced air heating; Natural gas heat; Central air conditioning
• Interior features: Partially finished basement; Basement present; 9 total rooms
• Laundry & utility: Laundry in basement (12 x 8); Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $280k.

Deal economics

• At list price, monthly cash flow is $-692 ($-8k/yr) — negative.
• To cash-flow at today's rent, offer at most $158k (43.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $163k (41.7% below list).
• Recommended offer: $158k (43.7% below list) — sets the bar for cash-flow.

Location & tenants

• Location reads: area grade F — 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: 130 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 11d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 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 16 days — a 2% lower offer ($276k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 16y ago; this cycle's ask has dropped $20k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $217k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

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

Recommended offer $157,763 (43.7% 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. 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.
6. 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.
7. 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: 0.58% ✗
• Cap rate: 3.33%
• Cash-on-cash: -10.59%
• DSCR: 0.53
• GRM: 14.3

CMA / ARV

• ARV (on-the-fly): $265,872
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2342 Ellery Ave	0.22mi	3/2.0 (+1)	1,250 (+9%)	8mo	$255,000	$204	63
6817 Brightwood Ct	0.45mi	2/2.5	1,048 (-9%)	2mo	$387,500	$370	61
6175 Hatchery Rd	0.21mi	3/1.0 (+1)	1,019 (-11%)	3mo	$250,000	$245	61
3039 Airport Rd	0.65mi	2/2.0	1,214 (+6%)	2mo	$230,000	$189	58
6441 Crest Dr	0.31mi	3/1.0 (+1)	1,056 (-8%)	6mo	$236,000	$223	58
6832 Brightwood Ct	0.44mi	2/2.0	1,004 (-12%)	1mo	$549,900	$548	58
6451 Barker Dr	0.40mi	3/1.0 (+1)	1,200 (+5%)	9mo	$235,000	$196	57
2200 Marston Dr N	0.26mi	3/1.0 (+1)	1,000 (-13%)	2mo	$231,500	$232	56
2811 Orange Grove Rd	0.53mi	2/1.0	1,023 (-11%)	1mo	$161,000	$157	53
2420 Jones Rd	0.58mi	3/1.5 (+1)	1,243 (+8%)	2mo	$310,000	$249	50
2610 Airport Rd	0.44mi	3/2.0 (+1)	1,288 (+12%)	5mo	$320,000	$248	49
3200 Homestead Dr	0.73mi	3/1.0 (+1)	1,232 (+8%)	11mo	$235,000	$191	36

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: -35.4%
• Equity multiple: -0.14×
• Total profit: $-89,391
• Equity at exit: $41,749

10-year hold

• IRR: -47.3%
• Equity multiple: -0.71×
• Total profit: $-134,375
• Equity at exit: $24,209

Cash invested: $78,400 (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 48329

• Active inventory: 130
• Price-to-rent: 14.3×

Monthly cashflow live

• Estimated rent: $1,631 high
• Mortgage (P&I): −$1,468
• Tax from tax record: −$396 /mo · $4,746/yr
• Insurance: −$117
• HOA: −$0
• Vacancy / Maint / Mgmt: −$343
• Net cashflow: $-692

Break-even live

Break-even rent $2,507

Max offer price $157,763

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: $70,000
• Closing costs: $8,400
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6400 Elmwood Dr Waterford, MI	2.0	1.0	838	$1,400	$1.67	18d	1	0.12mi
2557 Desmond Waterford, MI	2.0	1.0	902	$1,595	$1.77	11d	1	0.77mi
3234 Whitfield Dr Waterford, MI	3.0	2.0	1350	$2,350	$1.74	44d	1	0.82mi
1643 Alma Ave Waterford, MI	2.0	1.0	706	$1,500	$2.12	5d	1	1.15mi
1407 Laurel Valley Dr Waterford, MI	2.0	1.5	986	$1,550	$1.57	11d	1	1.22mi

Listing history 50 events

1. 2026-06-18
   days on market $280,000 Active 16 DOM
2. 2026-06-17
   days on market $280,000 Active 15 DOM
3. 2026-06-16
   days on market $280,000 Active 14 DOM
4. 2026-06-15
   days on market $280,000 Active 13 DOM
5. 2026-06-13
   days on market $280,000 Active 11 DOM
6. 2026-06-09
   days on market $280,000 Active 7 DOM
7. 2026-06-08
   days on market $280,000 Active 6 DOM
8. 2026-06-07
   days on market $280,000 Active 5 DOM
9. 2026-06-04
   days on market $280,000 Active 2 DOM
10. 2026-06-03
    statusdays on marketlisting id $280,000 Active 1 DOM
11. 2026-06-02
    days on market $280,000 Coming Soon 6 DOM
12. 2026-06-01
    days on market $280,000 Coming Soon 5 DOM
13. 2026-05-31
    days on market $280,000 Coming Soon 4 DOM
14. 2026-05-27
    historical $280,000
15. 2026-01-13
    historical
16. 2026-01-13
    historical
17. 2025-11-25
    price $289,900
18. 2025-11-24
    price $289,900
19. 2025-11-07
    listed $299,969 Active
20. 2025-11-07
    listed $299,969 Active
21. 2025-11-05
    historical
22. 2021-12-29
    soldstatus $217,000
23. 2021-11-30
    soldstatus $217,000 Sold
24. 2021-11-30
    soldstatus $217,000 Closed
25. 2021-11-02
    status Pending
26. 2021-11-02
    status Pending
27. 2021-10-28
    listed $209,999 Active
28. 2021-10-28
    listed $209,999 Active
29. 2017-08-11
    soldstatus $144,000
30. 2017-04-18
    soldstatus $144,000 Sold
31. 2017-04-18
    soldstatus $144,000 Closed
32. 2017-03-09
    status Pending
33. 2017-03-09
    status Pending
34. 2017-03-07
    listed $139,999 Active
35. 2017-03-07
    listed $139,999 Active
36. 2016-02-26
    soldstatus $65,000
37. 2016-01-14
    soldstatus $65,000 Sold
38. 2016-01-14
    soldstatus $65,000
39. 2016-01-06
    status Pending
40. 2015-12-29
    historical
41. 2015-12-29
    historical
42. 2015-12-23
    listed $75,000 Active
43. 2015-12-23
    listed $75,000
44. 2010-11-15
    soldstatus $37,511
45. 2010-11-15
    soldstatus $37,511
46. 2010-11-02
    historical
47. 2010-10-19
    listed $33,900
48. 2010-10-19
    listed $33,900
49. 1996-07-01
    soldstatus $86,700
50. 1981-08-01
    soldstatus $42,900

ⓘ 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: $4,746 · $396/mo
• Projected year-2 tax: $4,746 · $396/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $19,573
• − Mortgage interest: −$15,684
• − Property taxes: −$4,746
• − Insurance: −$1,400
• − Repairs & maintenance: −$1,566
• − Management: −$1,566
• − Depreciation: −$8,145
• Taxable loss: −$13,534
• Est. tax savings @ 24.0%: +$3,248
• After-tax cash flow: $-5,055/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): 24,715
• Household income: $85,709
• Rent vs Own: 10.6% rent · 89.4% own
• Severe rent burden: 330.0

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 (86%)
• Race & ethnicity: White 86% Two or more races 7% Hispanic / Latino 6% Asian 2% Black 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 8% Slovak 4% Serbian 3%
• Foreign-born: 4% · China, Canada
• Languages at home: 94% English-only · Spanish 2% Chinese 1% Arabic 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: ▼ -292.54%
• Current HPI: 204.9674
• 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

+552.7% since first listed

37 events — show timeline

• 2026-05-27 Coming Soon $280,000 MiRealSource-MiMLS
• 2026-01-13 Listing Removed — MiRealSource-MiMLS
• 2026-01-13 Listing Removed — REALCOMP
• 2025-11-25 Price Changed $289,900 MiRealSource-MiMLS
• 2025-11-24 Price Changed $289,900 REALCOMP
• 2025-11-07 Listed $299,969 MiRealSource-MiMLS
• 2025-11-07 Listed $299,969 REALCOMP
• 2025-11-05 Coming Soon — MiRealSource-MiMLS
• 2021-12-29 Sold (Public Records) $217,000 Public Records
• 2021-11-30 Sold (MLS) $217,000 MiRealSource-MiMLS
• 2021-11-30 Sold (MLS) $217,000 REALCOMP
• 2021-11-02 Pending — MiRealSource-MiMLS
• 2021-11-02 Pending — REALCOMP
• 2021-10-28 Listed $209,999 MiRealSource-MiMLS
• 2021-10-28 Listed $209,999 REALCOMP
• 2017-08-11 Sold (Public Records) $144,000 Public Records
• 2017-04-18 Sold (MLS) $144,000 MiRealSource-MiMLS
• 2017-04-18 Sold (MLS) $144,000 REALCOMP
• 2017-03-09 Pending — MiRealSource-MiMLS
• 2017-03-09 Pending — REALCOMP
• 2017-03-07 Listed $139,999 MiRealSource-MiMLS
• 2017-03-07 Listed $139,999 REALCOMP
• 2016-02-26 Sold (Public Records) $65,000 Public Records
• 2016-01-14 Sold (MLS) $65,000 MiRealSource-MiMLS
• 2016-01-14 Sold (MLS) $65,000 REALCOMP
• 2016-01-06 Pending — REALCOMP
• 2015-12-29 Listing Removed — REALCOMP
• 2015-12-29 Listing Removed — MiRealSource-MiMLS
• 2015-12-23 Listed $75,000 REALCOMP
• 2015-12-23 Listed $75,000 MiRealSource-MiMLS
• 2010-11-15 Sold (MLS) $37,511 MiRealSource-MiMLS
• 2010-11-15 Sold (MLS) $37,511 REALCOMP
• 2010-11-02 Listing Removed — MiRealSource-MiMLS
• 2010-10-19 Listed $33,900 MiRealSource-MiMLS
• 2010-10-19 Listed $33,900 REALCOMP
• 1996-07-01 Sold (Public Records) $86,700 Public Records
• 1981-08-01 Sold (Public Records) $42,900 Public Records

Property tax history

+6.9%/yr

Latest (2025): $4,746 · +39.3% YoY. Source: county tax records.