5969 Pleasant Dr · Village of Clarkston, MI 48329

$218,000

3 bd · 1.5 ba · 1,476 sqft · SingleFamily public records · 34 Days on market

Built 1965 0.32 ac lot Est $267k · 18% under $3/mo HOA

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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 +18.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.7/10.0
• 1% rule +5.2/10.0
• Livability +4.0/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious two-story single-family home offering 3 bedrooms and 1.5 baths in desirable Waterford Township. The main level features an open kitchen layout, dining area, and a welcoming family room with wood-burning fireplace and charming wood-paneled walls. Three bedrooms and a full bath are located on the second floor, with a convenient half bath on the main level. Attached 2-car garage and a large backyard with deck provide great space for outdoor enjoyment and entertaining. Property includes access to a nearby neighborhood public lake beach. Vacant and ready for immediate possession

Key facts

• Cozy living room
• Large backyard
• Deck

Tags

• OPEN KITCHEN LAYOUT
• COZY LIVING ROOM
• WOOD BURNING FIREPLACE
• LARGE BACKYARD
• DECK
• ACCESS TO PUBLIC LAKE BEACH

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $218k.

Deal economics

• At list price, monthly cash flow is $195 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $218k).
• Recommended offer: $211k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.4% vs local median 3.9% in Village of Clarkston — 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 79/100 on livability (#98 in MI, #2,255 nationally) — a middle-class / working-renter tenant base. Strengths: schools A+, crime A+, employment A+; Watch: amenities F, commute F.
• 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; 3 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).
• This rent runs 31% of the median local income ($86k/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 $7k 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 34 days — a 3% lower offer ($211k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 25y 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 $182k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $211,460 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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 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: 1.02% ✓
• Cap rate: 7.36%
• Cash-on-cash: 3.83%
• DSCR: 1.17
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $267,156
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6169 Barker Cir	0.34mi	3/1.5	1,500 (+2%)	11mo	$320,000	$213	73
3140 Van Zandt Rd	0.48mi	3/2.0	1,472 (-0%)	3mo	$250,000	$170	72
2715 Campbellgate Dr	0.36mi	3/1.5	1,540 (+4%)	4mo	$306,000	$199	72
6414 Lanman Dr	0.44mi	2/2.0 (-1)	1,464 (-1%)	1mo	$265,444	$181	70
3004 Lansdowne Rd	0.54mi	3/1.5	1,473 (-0%)	10mo	$317,000	$215	66
3410 Van Zandt Rd	0.54mi	3/2.0	1,528 (+4%)	4mo	$270,000	$177	63
6215 Williams Lake Rd	0.43mi	3/1.0	1,374 (-7%)	8mo	$176,000	$128	60
5516 Cleary Dr	0.56mi	3/1.0	1,384 (-6%)	9mo	$251,000	$181	54
5524 Walling Dr	0.43mi	3/1.0	1,662 (+13%)	10mo	$192,000	$116	49
2610 Airport Rd	0.51mi	3/2.0	1,288 (-13%)	5mo	$320,000	$248	49
3238 Homestead Dr	0.72mi	3/1.0	1,313 (-11%)	10mo	$250,000	$190	38
3729 Warringham Ave	0.67mi	3/1.5	1,687 (+14%)	10mo	$252,000	$149	37

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: -10.3%
• Equity multiple: 0.63×
• Total profit: $-22,858
• Equity at exit: $32,505

10-year hold

• IRR: -0.9%
• Equity multiple: 0.94×
• Total profit: $-3,649
• Equity at exit: $18,849

Cash invested: $61,040 (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: 8.1×

Monthly cashflow live

• Estimated rent: $2,234 medium
• Mortgage (P&I): −$1,143
• Tax from tax record: −$333 /mo · $3,999/yr
• Insurance: −$91
• HOA: −$3
• Vacancy / Maint / Mgmt: −$469
• Net cashflow: $195

Break-even live

Break-even rent $1,988

Max offer price $218,000

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: $54,500
• Closing costs: $6,540
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3234 Whitfield Dr Waterford, MI	3.0	2.0	1350	$2,350	$1.74	43d	1	0.83mi
4047 Ledgestone Dr Waterford, MI	3.0	2.0	1546	$2,280	$1.47	10d	1	0.98mi
2557 Desmond Waterford, MI	2.0	1.0	902	$1,595	$1.77	10d	1	1.30mi

HOA detail

• Monthly dues: $3 · $36/yr
• Likely covers: water

Listing history 34 events

1. 2026-01-28
   soldstatus $182,500
2. 2026-01-19
   status Pending 589-char remark

   Show marketing remark (589 chars)

   Spacious two-story single-family home offering 3 bedrooms and 1.5 baths in desirable Waterford Township. The main level features an open kitchen layout, dining area, and a welcoming family room with wood-burning fireplace and charming wood-paneled walls. Three bedrooms and a full bath are located on the second floor, with a convenient half bath on the main level. Attached 2-car garage and a large backyard with deck provide great space for outdoor enjoyment and entertaining. Property includes access to a nearby neighborhood public lake beach. Vacant and ready for immediate possession

3. 2026-01-19
   status Pending

   Show marketing remark (589 chars)

   Spacious two-story single-family home offering 3 bedrooms and 1.5 baths in desirable Waterford Township. The main level features an open kitchen layout, dining area, and a welcoming family room with wood-burning fireplace and charming wood-paneled walls. Three bedrooms and a full bath are located on the second floor, with a convenient half bath on the main level. Attached 2-car garage and a large backyard with deck provide great space for outdoor enjoyment and entertaining. Property includes access to a nearby neighborhood public lake beach. Vacant and ready for immediate possession

4. 2025-12-30
   price $218,000 589-char remark

   Show marketing remark (589 chars)

   Spacious two-story single-family home offering 3 bedrooms and 1.5 baths in desirable Waterford Township. The main level features an open kitchen layout, dining area, and a welcoming family room with wood-burning fireplace and charming wood-paneled walls. Three bedrooms and a full bath are located on the second floor, with a convenient half bath on the main level. Attached 2-car garage and a large backyard with deck provide great space for outdoor enjoyment and entertaining. Property includes access to a nearby neighborhood public lake beach. Vacant and ready for immediate possession

5. 2025-12-29
   price $218,000
6. 2025-12-16
   listed $219,000 Active 589-char remark

   Show marketing remark (589 chars)

   Spacious two-story single-family home offering 3 bedrooms and 1.5 baths in desirable Waterford Township. The main level features an open kitchen layout, dining area, and a welcoming family room with wood-burning fireplace and charming wood-paneled walls. Three bedrooms and a full bath are located on the second floor, with a convenient half bath on the main level. Attached 2-car garage and a large backyard with deck provide great space for outdoor enjoyment and entertaining. Property includes access to a nearby neighborhood public lake beach. Vacant and ready for immediate possession

7. 2025-12-16
   listed $219,000 Active

   Show marketing remark (589 chars)

   Spacious two-story single-family home offering 3 bedrooms and 1.5 baths in desirable Waterford Township. The main level features an open kitchen layout, dining area, and a welcoming family room with wood-burning fireplace and charming wood-paneled walls. Three bedrooms and a full bath are located on the second floor, with a convenient half bath on the main level. Attached 2-car garage and a large backyard with deck provide great space for outdoor enjoyment and entertaining. Property includes access to a nearby neighborhood public lake beach. Vacant and ready for immediate possession

8. 2018-07-27
   soldstatus $155,000
9. 2018-06-01
   soldstatus $155,000 Sold 469-char remark

   Show marketing remark (469 chars)

   Beautiful country style home with an open floor plan. Three bedrooms and a full bath on the second floor. Half bath on main level just off the kitchen. The kitchen is open giving it an at home country feel. The family room gives the feeling of up north comfort while living in the city with it's beautiful wood panel walls and cozy wood burning fire place. The back yard is spacious with a large deck great for entertaining and a space perfect for the at home gardener.

10. 2018-06-01
    soldstatus $155,000 Closed

    Show marketing remark (469 chars)

    Beautiful country style home with an open floor plan. Three bedrooms and a full bath on the second floor. Half bath on main level just off the kitchen. The kitchen is open giving it an at home country feel. The family room gives the feeling of up north comfort while living in the city with it's beautiful wood panel walls and cozy wood burning fire place. The back yard is spacious with a large deck great for entertaining and a space perfect for the at home gardener.

11. 2018-04-25
    status Pending

    Show marketing remark (469 chars)

    Beautiful country style home with an open floor plan. Three bedrooms and a full bath on the second floor. Half bath on main level just off the kitchen. The kitchen is open giving it an at home country feel. The family room gives the feeling of up north comfort while living in the city with it's beautiful wood panel walls and cozy wood burning fire place. The back yard is spacious with a large deck great for entertaining and a space perfect for the at home gardener.

12. 2018-04-25
    status Pending 469-char remark

    Show marketing remark (469 chars)

    Beautiful country style home with an open floor plan. Three bedrooms and a full bath on the second floor. Half bath on main level just off the kitchen. The kitchen is open giving it an at home country feel. The family room gives the feeling of up north comfort while living in the city with it's beautiful wood panel walls and cozy wood burning fire place. The back yard is spacious with a large deck great for entertaining and a space perfect for the at home gardener.

13. 2018-04-22
    listed $155,000 Active 469-char remark

    Show marketing remark (469 chars)

    Beautiful country style home with an open floor plan. Three bedrooms and a full bath on the second floor. Half bath on main level just off the kitchen. The kitchen is open giving it an at home country feel. The family room gives the feeling of up north comfort while living in the city with it's beautiful wood panel walls and cozy wood burning fire place. The back yard is spacious with a large deck great for entertaining and a space perfect for the at home gardener.

14. 2018-04-22
    listed $155,000 Active

    Show marketing remark (469 chars)

    Beautiful country style home with an open floor plan. Three bedrooms and a full bath on the second floor. Half bath on main level just off the kitchen. The kitchen is open giving it an at home country feel. The family room gives the feeling of up north comfort while living in the city with it's beautiful wood panel walls and cozy wood burning fire place. The back yard is spacious with a large deck great for entertaining and a space perfect for the at home gardener.

15. 2013-05-24
    soldstatus $90,050
16. 2013-05-24
    soldstatus $90,050
17. 2013-03-29
    historical
18. 2013-03-29
    historical
19. 2013-03-08
    listed $99,700
20. 2013-03-08
    listed $99,700
21. 2013-03-07
    historical
22. 2013-03-07
    historical
23. 2012-11-19
    listed $99,700
24. 2012-11-19
    listed $99,700
25. 2005-10-25
    soldstatus $169,900
26. 2005-09-22
    soldstatus $169,900
27. 2005-03-24
    listed $169,900
28. 2001-10-25
    soldstatus $158,500
29. 2001-10-01
    soldstatus $158,500
30. 2001-08-12
    listed $162,900
31. 1994-10-19
    soldstatus $100,900
32. 1991-07-08
    soldstatus $95,000
33. 1988-09-01
    soldstatus $86,900
34. 1979-04-01
    soldstatus $61,900

ⓘ 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: $3,999 · $333/mo
• Projected year-2 tax: $3,999 · $333/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: $26,809
• − Mortgage interest: −$12,211
• − Property taxes: −$3,999
• − Insurance: −$1,090
• − Repairs & maintenance: −$2,145
• − Management: −$2,145
• − HOA: −$36
• − Depreciation: −$6,342
• Taxable loss: −$1,159
• Est. tax savings @ 24.0%: +$278
• After-tax cash flow: $2,613/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 — Village of Clarkston

• Score: 79/100
• State rank: #98
• US rank: #2255

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Oakland County · 1,009,092 people
• 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

+194.8% since first listed

34 events — show timeline

• 2026-01-28 Sold (Public Records) $182,500 Public Records
• 2026-01-19 Pending — MiRealSource-MiMLS
• 2026-01-19 Pending — REALCOMP
• 2025-12-30 Price Changed $218,000 MiRealSource-MiMLS
• 2025-12-29 Price Changed $218,000 REALCOMP
• 2025-12-16 Listed $219,000 REALCOMP
• 2025-12-16 Listed $219,000 MiRealSource-MiMLS
• 2018-07-27 Sold (Public Records) $155,000 Public Records
• 2018-06-01 Sold (MLS) $155,000 MiRealSource-MiMLS
• 2018-06-01 Sold (MLS) $155,000 REALCOMP
• 2018-04-25 Pending — MiRealSource-MiMLS
• 2018-04-25 Pending — REALCOMP
• 2018-04-22 Listed $155,000 MiRealSource-MiMLS
• 2018-04-22 Listed $155,000 REALCOMP
• 2013-05-24 Sold (MLS) $90,050 MiRealSource-MiMLS
• 2013-05-24 Sold (MLS) $90,050 REALCOMP
• 2013-03-29 Listing Removed — MiRealSource-MiMLS
• 2013-03-29 Listing Removed — REALCOMP
• 2013-03-08 Listed $99,700 MiRealSource-MiMLS
• 2013-03-08 Listed $99,700 REALCOMP
• 2013-03-07 Listing Removed — MiRealSource-MiMLS
• 2013-03-07 Listing Removed — REALCOMP
• 2012-11-19 Listed $99,700 MiRealSource-MiMLS
• 2012-11-19 Listed $99,700 REALCOMP
• 2005-10-25 Sold (Public Records) $169,900 Public Records
• 2005-09-22 Sold (MLS) $169,900 REALCOMP
• 2005-03-24 Listed $169,900 REALCOMP
• 2001-10-25 Sold (Public Records) $158,500 Public Records
• 2001-10-01 Sold (MLS) $158,500 REALCOMP
• 2001-08-12 Listed $162,900 REALCOMP
• 1994-10-19 Sold (Public Records) $100,900 Public Records
• 1991-07-08 Sold (Public Records) $95,000 Public Records
• 1988-09-01 Sold (Public Records) $86,900 Public Records
• 1979-04-01 Sold (Public Records) $61,900 Public Records

Property tax history

+7.3%/yr

Latest (2025): $3,999 · +2.9% YoY. Source: county tax records.