2244 Hammerslea Rd · Orion, MI 48359

$250,000

3 bd · 1.0 ba · 1,193 sqft · SingleFamily public records · 51 Days on market

Built 1957 0.45 ac lot $210/sqft · 18% above area Est $266k · 6% under ↓ 9% since listing

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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 +19.8/30.0
• ARV discount +10.2/15.0
• DSCR +6.3/10.0
• Schools +5.1/10.0
• 1% rule +4.6/10.0
• 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

Lovely 1,500 sf ranch - 2 bedroom with cedar closets with 2 additional rooms with the possibility of creating 3rd large bedroom. Attached 2 car garage with workshop area plus huge backyard great for entertaining and expanding the property. Unfinished basement gives additional storage options. This property is looking for someone to put the creativity and improvements to make this truly a home to be cared for. Conveniently located just down Joslyn road from I-75 freeway and multiple shopping and restaurants.

Key facts

• Attached garage
• Cedar closets
• Unfinished basement

Tags

• CEDAR CLOSETS
• ATTACHED GARAGE
• HUGE BACKYARD
• UNFINISHED BASEMENT
• CONVENIENTLY LOCATED

Property features AI

Exterior

• Parking: Attached garage with garage door opener; 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One level (ground-level entry); Vinyl siding
• Construction: Asphalt roof
• Exterior features: Fenced yard; Dirt road access

Interior

• Kitchen: Free-standing electric oven; Free-standing refrigerator; Dishwasher not listed
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Unfinished basement; Gas water heater
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $296 ($4k/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 $240k (4.2% below list).
• Recommended offer: $240k (4.2% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• 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: 50 active listings in the ZIP; solid renter incomes; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent runs 31% of the median local income ($93k/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 51 days — a 3% lower offer ($242k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $239,527 (4.2% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — 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. 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: 0.96% ✗
• Cap rate: 7.71%
• Cash-on-cash: 5.08%
• DSCR: 1.23
• GRM: 8.7

CMA / ARV

• ARV (median comp): $265,982
• List price: $250,000
• Delta: -6.01%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3756 Gainesborough Dr	0.12mi	4/1.0 (+1)	1,188 (-0%)	12mo	$260,000	$219	78
3657 Coleport St	0.23mi	3/2.0	1,213 (+2%)	8mo	$297,000	$245	76
3909 Queensbury Rd	0.24mi	3/1.0	1,100 (-8%)	5mo	$267,000	$243	72
2512 Flintridge St	0.48mi	3/1.0	1,225 (+3%)	11mo	$260,600	$213	64
2489 PETERS St	0.54mi	3/1.0	1,210 (+1%)	12mo	$260,000	$215	62
2489 Peters St	0.54mi	3/1.0	1,210 (+1%)	12mo	$260,000	$215	62
3563 Minton Rd	0.36mi	3/1.0	1,121 (-6%)	15mo	$220,000	$196	61
3747 Gainesborough Dr	0.12mi	3/2.0	1,331 (+12%)	13mo	$315,000	$237	60
2465 Liter Rd	0.43mi	2/2.0 (-1)	1,283 (+8%)	4mo	$235,000	$183	55
2570 Flintridge St	0.57mi	3/1.0	1,117 (-6%)	11mo	$280,000	$251	54
3886 Queensbury Rd	0.28mi	2/1.0 (-1)	1,056 (-12%)	11mo	$245,000	$232	53
3679 Grafton St	0.37mi	4/2.0 (+1)	1,341 (+12%)	6mo	$220,000	$164	48

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: -8.4%
• Equity multiple: 0.69×
• Total profit: $-21,698
• Equity at exit: $37,276

10-year hold

• IRR: 1.1%
• Equity multiple: 1.07×
• Total profit: $5,205
• Equity at exit: $21,615

Cash invested: $70,000 (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 48359

• Active inventory: 50
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $2,395 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$181 /mo · $2,172/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$503
• Net cashflow: $296

Break-even live

Break-even rent $2,020

Max offer price $250,000

Occupancy floor 83%

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $250,000 Active 51 DOM
2. 2026-06-17
   days on market $250,000 Active 50 DOM
3. 2026-06-16
   days on market $250,000 Active 49 DOM
4. 2026-06-15
   days on market $250,000 Active 48 DOM
5. 2026-06-13
   days on market $250,000 Active 46 DOM
6. 2026-06-09
   days on market $250,000 Active 42 DOM
7. 2026-06-08
   days on market $250,000 Active 41 DOM
8. 2026-06-07
   days on market $250,000 Active 40 DOM
9. 2026-06-04
   days on market $250,000 Active 37 DOM
10. 2026-06-03
    days on market $250,000 Active 36 DOM
11. 2026-06-02
    days on market $250,000 Active 35 DOM
12. 2026-06-01
    days on market $250,000 Active 34 DOM
13. 2026-05-31
    days on market $250,000 Active 33 DOM
14. 2026-05-12
    price $250,000 512-char remark

    Show marketing remark (512 chars)

    Lovely 1,500 sf ranch - 2 bedroom with cedar closets with 2 additional rooms with the possibility of creating 3rd large bedroom. Attached 2 car garage with workshop area plus huge backyard great for entertaining and expanding the property. Unfinished basement gives additional storage options. This property is looking for someone to put the creativity and improvements to make this truly a home to be cared for. Conveniently located just down Joslyn road from I-75 freeway and multiple shopping and restaurants.

15. 2026-05-11
    price $250,000 512-char remark
16. 2026-04-27
    listed $275,000 Active 512-char remark

    Show marketing remark (512 chars)

    Lovely 1,500 sf ranch - 2 bedroom with cedar closets with 2 additional rooms with the possibility of creating 3rd large bedroom. Attached 2 car garage with workshop area plus huge backyard great for entertaining and expanding the property. Unfinished basement gives additional storage options. This property is looking for someone to put the creativity and improvements to make this truly a home to be cared for. Conveniently located just down Joslyn road from I-75 freeway and multiple shopping and restaurants.

17. 2026-04-27
    listed $275,000 Active 512-char remark

    Show marketing remark (512 chars)

    Lovely 1,500 sf ranch - 2 bedroom with cedar closets with 2 additional rooms with the possibility of creating 3rd large bedroom. Attached 2 car garage with workshop area plus huge backyard great for entertaining and expanding the property. Unfinished basement gives additional storage options. This property is looking for someone to put the creativity and improvements to make this truly a home to be cared for. Conveniently located just down Joslyn road from I-75 freeway and multiple shopping and restaurants.

ⓘ 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: $2,172 · $181/mo
• Projected year-2 tax: $3,011 · $251/mo
• Expected delta: +$839/yr (+$70/mo · 38.6%)

ⓘ 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: $28,743
• − Mortgage interest: −$14,004
• − Property taxes: −$2,172
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,299
• − Management: −$2,299
• − Depreciation: −$7,273
• Taxable loss: −$554
• Est. tax savings @ 24.0%: +$133
• After-tax cash flow: $3,686/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 — Orion

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Oakland County · 1,009,092 people
• City population: 10,401
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 10,401
• Household income: $93,125
• Rent vs Own: 31.2% rent · 68.8% own
• Severe rent burden: 292.0

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 (79%)
• Race & ethnicity: White 79% Hispanic / Latino 8% Asian 7% Two or more races 5% Black 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 10% Lithuanian 4% Italian 3%
• Foreign-born: 9% · Canada, China, South Korea
• Languages at home: 87% English-only · Spanish 5% Other Indo-European 2% Other Asian/Pacific 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: ▼ -151.39%
• Current HPI: 168.0362
• 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

-9.1% since first listed

4 events — show timeline

• 2026-05-12 Price Changed $250,000 MiRealSource-MiMLS
• 2026-05-11 Price Changed $250,000 REALCOMP
• 2026-04-27 Listed $275,000 REALCOMP
• 2026-04-27 Listed $275,000 MiRealSource-MiMLS

Property tax history

+4.2%/yr

Latest (2025): $2,172 · +7.4% YoY. Source: county tax records.