5094 Harbor Oak Dr #36 · Village of Clarkston, MI 48329

$169,900

2 bd · 2.0 ba · 1,345 sqft · Condo public records · 22 Days on market

Built 1988 $344/mo HOA · 18% of rent

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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 +13.3/30.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• DSCR +4.0/10.0
• 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

Best value in the area for this spacious and well maintained 2 bedroom 2 full bath condominium offering an ideal blend of comfort and convenience. Both bedrooms are generously sized, providing exceptional space rarely found in similar condos. The soaring vaulted ceiling in the great room creates an airy feel, complemented by a natural fireplace and seamless flow into the kitchen and dining area. Step out onto your private balcony to relax and unwind. Enjoy a private setting with scenic walking paths to Eagle Lake, all within close proximity to shopping, dining, and everyday conveniences. New AC & Furnace 2018, and new Water Heater 2022. Seller will pay the Special Assessment of $300 due July 1, 2026. Seller will provide 1 year home warranty. HOA includes lawn & snow maintenance, water and sewer, trash, and grounds security lighting.

Key facts

• $344 HOA
• Garage
• Built 1988

Property features AI

Finance

• Other: Paved road access; Directions: North of Walton Blvd, east of Dixie Highway
• HOA & community: Homeowners association with monthly fee; Association fee includes maintenance (grounds and structure), security, sewer, snow removal, and trash; Maintenance of grounds provided

Exterior

• Parking: Covered parking; Detached parking; Parking lot; Carport; Assigned parking; No garage
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer; Cable available
• Home design: Condominium (residential); Two levels; Ground-level entry with steps
• Construction: Vinyl siding; Asphalt roof; Slab foundation; Home warranty included
• Exterior features: Covered deck; Balcony; Exterior lighting

Interior

• Kitchen: Oven; Electric cooktop; Free-standing electric oven/range; Self-cleaning oven; Range hood; Exhaust fan; ENERGY STAR qualified dishwasher; Gas water heater
• Bedrooms: Total rooms: 6
• Bathrooms: 2 full bathrooms
• Interior features: Negotiable furnished status; Living room wood-burning fireplace; Water softener (owned); Intercom; Smoke detectors
• Laundry & utility: In-unit laundry room; ENERGY STAR qualified washer; ENERGY STAR qualified dryer

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath condo listed at $170k.

Deal economics

• At list price, monthly cash flow is $1 ($13/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Recommended offer: $167k (1.5% below list) — sets the bar for market timing.
• Cap rate 6.3% vs local median 3.3% 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: 137 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $1k of loan paydown is wiped out by about $5k 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 22 days — a 2% lower offer ($167k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 30y 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 $95k; list at $170k implies a 79% gain — meaningful room to come down on a strong offer.

Recommended offer $167,351 (1.5% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.11% ✓
• Cap rate: 6.30%
• Cash-on-cash: 0.03%
• DSCR: 1.00
• GRM: 7.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -16.1%
• Equity multiple: 0.43×
• Total profit: $-27,243
• Equity at exit: $25,333

10-year hold

• IRR: -7.5%
• Equity multiple: 0.52×
• Total profit: $-22,736
• Equity at exit: $14,690

Cash invested: $47,572 (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: 137
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,885 medium
• Mortgage (P&I): −$891
• Tax from tax record: −$182 /mo · $2,189/yr
• Insurance: −$71
• HOA: −$344
• Vacancy / Maint / Mgmt: −$396
• Net cashflow: $1

Break-even live

Break-even rent $1,884

Max offer price $169,900

Occupancy floor 95%

Sensitivity live

Price	-10% $97	-5% $49	+0% $1	+5% $-47	+10% $-95
Rent	-10% $-148	-5% $-73	+0% $1	+5% $76	+10% $150
Rate	-1.0pp $87	-0.5pp $44	base $1	+0.5pp $-43	+1.0pp $-88

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4047 Ledgestone Dr Waterford, MI	3.0	2.0	1546	$2,280	$1.47	12d	1	0.86mi
5901 Dixie Hwy Clarkston, MI	2.0	1.0	1030	$1,350	$1.31	0d	1	1.27mi

HOA detail condo

• Monthly dues: $344 · $4,128/yr
• Likely covers: watersewertrashlandscapingsecurity
• ⚠ Special-assessment mentions:

  …shopping, dining, and everyday conveniences. New AC & Furnace 2018, and new Water Heater 2022. Seller will pay the Special Assessment of $300 due July 1, 2026. Seller will provide 1 year home warranty. HOA includes lawn & snow maintenance, water and…

Listing history 19 events

1. 2026-05-09
   status Pending 856-char remark

   Show marketing remark (856 chars)

   Best value in the area for this spacious and well maintained 2 bedroom 2 full bath condominium offering an ideal blend of comfort and convenience. Both bedrooms are generously sized, providing exceptional space rarely found in similar condos. The soaring vaulted ceiling in the great room creates an airy feel, complemented by a natural fireplace and seamless flow into the kitchen and dining area. Step out onto your private balcony to relax and unwind. Enjoy a private setting with scenic walking paths to Eagle Lake, all within close proximity to shopping, dining, and everyday conveniences. New AC & Furnace 2018, and new Water Heater 2022. Seller will pay the Special Assessment of $300 due July 1, 2026. Seller will provide 1 year home warranty. HOA includes lawn & snow maintenance, water and sewer, trash, and grounds security lighting.

2. 2026-05-09
   status Pending

   Show marketing remark (856 chars)

   Best value in the area for this spacious and well maintained 2 bedroom 2 full bath condominium offering an ideal blend of comfort and convenience. Both bedrooms are generously sized, providing exceptional space rarely found in similar condos. The soaring vaulted ceiling in the great room creates an airy feel, complemented by a natural fireplace and seamless flow into the kitchen and dining area. Step out onto your private balcony to relax and unwind. Enjoy a private setting with scenic walking paths to Eagle Lake, all within close proximity to shopping, dining, and everyday conveniences. New AC & Furnace 2018, and new Water Heater 2022. Seller will pay the Special Assessment of $300 due July 1, 2026. Seller will provide 1 year home warranty. HOA includes lawn & snow maintenance, water and sewer, trash, and grounds security lighting.

3. 2026-04-17
   historical Accepting Backup Offers 856-char remark

   Show marketing remark (856 chars)

   Best value in the area for this spacious and well maintained 2 bedroom 2 full bath condominium offering an ideal blend of comfort and convenience. Both bedrooms are generously sized, providing exceptional space rarely found in similar condos. The soaring vaulted ceiling in the great room creates an airy feel, complemented by a natural fireplace and seamless flow into the kitchen and dining area. Step out onto your private balcony to relax and unwind. Enjoy a private setting with scenic walking paths to Eagle Lake, all within close proximity to shopping, dining, and everyday conveniences. New AC & Furnace 2018, and new Water Heater 2022. Seller will pay the Special Assessment of $300 due July 1, 2026. Seller will provide 1 year home warranty. HOA includes lawn & snow maintenance, water and sewer, trash, and grounds security lighting.

4. 2026-04-17
   historical Active Under Contract

   Show marketing remark (856 chars)

   Best value in the area for this spacious and well maintained 2 bedroom 2 full bath condominium offering an ideal blend of comfort and convenience. Both bedrooms are generously sized, providing exceptional space rarely found in similar condos. The soaring vaulted ceiling in the great room creates an airy feel, complemented by a natural fireplace and seamless flow into the kitchen and dining area. Step out onto your private balcony to relax and unwind. Enjoy a private setting with scenic walking paths to Eagle Lake, all within close proximity to shopping, dining, and everyday conveniences. New AC & Furnace 2018, and new Water Heater 2022. Seller will pay the Special Assessment of $300 due July 1, 2026. Seller will provide 1 year home warranty. HOA includes lawn & snow maintenance, water and sewer, trash, and grounds security lighting.

5. 2026-04-09
   status Pending 856-char remark

   Show marketing remark (856 chars)

   Best value in the area for this spacious and well maintained 2 bedroom 2 full bath condominium offering an ideal blend of comfort and convenience. Both bedrooms are generously sized, providing exceptional space rarely found in similar condos. The soaring vaulted ceiling in the great room creates an airy feel, complemented by a natural fireplace and seamless flow into the kitchen and dining area. Step out onto your private balcony to relax and unwind. Enjoy a private setting with scenic walking paths to Eagle Lake, all within close proximity to shopping, dining, and everyday conveniences. New AC & Furnace 2018, and new Water Heater 2022. Seller will pay the Special Assessment of $300 due July 1, 2026. Seller will provide 1 year home warranty. HOA includes lawn & snow maintenance, water and sewer, trash, and grounds security lighting.

6. 2026-04-09
   status Pending

   Show marketing remark (856 chars)

   Best value in the area for this spacious and well maintained 2 bedroom 2 full bath condominium offering an ideal blend of comfort and convenience. Both bedrooms are generously sized, providing exceptional space rarely found in similar condos. The soaring vaulted ceiling in the great room creates an airy feel, complemented by a natural fireplace and seamless flow into the kitchen and dining area. Step out onto your private balcony to relax and unwind. Enjoy a private setting with scenic walking paths to Eagle Lake, all within close proximity to shopping, dining, and everyday conveniences. New AC & Furnace 2018, and new Water Heater 2022. Seller will pay the Special Assessment of $300 due July 1, 2026. Seller will provide 1 year home warranty. HOA includes lawn & snow maintenance, water and sewer, trash, and grounds security lighting.

7. 2026-04-08
   listed $169,900 Active

   Show marketing remark (856 chars)

   Best value in the area for this spacious and well maintained 2 bedroom 2 full bath condominium offering an ideal blend of comfort and convenience. Both bedrooms are generously sized, providing exceptional space rarely found in similar condos. The soaring vaulted ceiling in the great room creates an airy feel, complemented by a natural fireplace and seamless flow into the kitchen and dining area. Step out onto your private balcony to relax and unwind. Enjoy a private setting with scenic walking paths to Eagle Lake, all within close proximity to shopping, dining, and everyday conveniences. New AC & Furnace 2018, and new Water Heater 2022. Seller will pay the Special Assessment of $300 due July 1, 2026. Seller will provide 1 year home warranty. HOA includes lawn & snow maintenance, water and sewer, trash, and grounds security lighting.

8. 2026-04-08
   listed $169,900 Active 856-char remark

   Show marketing remark (856 chars)

   Best value in the area for this spacious and well maintained 2 bedroom 2 full bath condominium offering an ideal blend of comfort and convenience. Both bedrooms are generously sized, providing exceptional space rarely found in similar condos. The soaring vaulted ceiling in the great room creates an airy feel, complemented by a natural fireplace and seamless flow into the kitchen and dining area. Step out onto your private balcony to relax and unwind. Enjoy a private setting with scenic walking paths to Eagle Lake, all within close proximity to shopping, dining, and everyday conveniences. New AC & Furnace 2018, and new Water Heater 2022. Seller will pay the Special Assessment of $300 due July 1, 2026. Seller will provide 1 year home warranty. HOA includes lawn & snow maintenance, water and sewer, trash, and grounds security lighting.

9. 2017-12-13
   soldstatus $95,000
10. 2015-08-21
    soldstatus $84,000
11. 2005-11-09
    historical
12. 2005-05-09
    listed $126,500
13. 2002-04-22
    soldstatus $108,000
14. 2001-11-28
    soldstatus $108,000
15. 2001-07-24
    listed $109,900
16. 1996-08-31
    historical
17. 1996-04-02
    listed $94,900
18. 1988-03-01
    soldstatus $79,900
19. 1988-01-01
    soldstatus $79,000

ⓘ 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: $2,189 · $182/mo
• Projected year-2 tax: $2,403 · $200/mo
• Expected delta: +$214/yr (+$18/mo · 9.8%)

ⓘ 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) · 21% 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: $22,621
• − Mortgage interest: −$9,517
• − Property taxes: −$2,189
• − Insurance: −$850
• − Repairs & maintenance: −$1,810
• − Management: −$1,810
• − HOA: −$4,128
• − Depreciation: −$4,943
• Taxable loss: −$2,624
• Est. tax savings @ 24.0%: +$630
• After-tax cash flow: $642/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

+115.1% since first listed

19 events — show timeline

• 2026-05-09 Pending — MiRealSource-MiMLS
• 2026-05-09 Pending — REALCOMP
• 2026-04-17 Contingent — MiRealSource-MiMLS
• 2026-04-17 Contingent — REALCOMP
• 2026-04-09 Pending — MiRealSource-MiMLS
• 2026-04-09 Pending — REALCOMP
• 2026-04-08 Listed $169,900 REALCOMP
• 2026-04-08 Listed $169,900 MiRealSource-MiMLS
• 2017-12-13 Sold (Public Records) $95,000 Public Records
• 2015-08-21 Sold (Public Records) $84,000 Public Records
• 2005-11-09 Listing Removed — REALCOMP
• 2005-05-09 Listed $126,500 REALCOMP
• 2002-04-22 Sold (Public Records) $108,000 Public Records
• 2001-11-28 Sold (MLS) $108,000 REALCOMP
• 2001-07-24 Listed $109,900 REALCOMP
• 1996-08-31 Listing Removed — REALCOMP
• 1996-04-02 Listed $94,900 REALCOMP
• 1988-03-01 Sold (Public Records) $79,900 Public Records
• 1988-01-01 Sold (Public Records) $79,000 Public Records

Property tax history

+8.4%/yr

Latest (2025): $2,189 · +4.3% YoY. Source: county tax records.