6248 Waldon Rd · Village of Clarkston, MI 48346

$214,900

2 bd · 1.0 ba · 1,242 sqft · SingleFamily public records · 29 Days on market

Built 1950 0.91 ac lot $173/sqft · 16% below area Est $316k · 32% under

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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 +16.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.0/10.0
• Schools +4.8/10.0
• Livability +4.0/5.0
• 1% rule +3.9/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to a very charming home just minutes from downtown Clarkston, set on a rare and spacious . 91-acre lot. Offering a great location and privacy, this property features a flexible layout with an extra room upstairs - perfect for a home office, guest space, or additional living area. Enjoy the convenience of two garages providing ample storage and workspace, along with a large, usable yard. Located close to shopping, dining, parks, and major commuter routes. A great opportunity to own a well-located property with room to grow.

Key facts

• Two garages
• Flexible layout
• Usable yard

Tags

• SPACIOUS LOT
• FLEXIBLE LAYOUT
• EXTRA ROOM UPSTAIRS
• TWO GARAGES
• USABLE YARD
• GREAT LOCATION

Property features AI

Exterior

• Parking: Attached garage with direct access and garage door opener; 2-car garage; Secondary (second) garage structure
• Utilities: Public water; Septic sewer
• Home design: Single-family residence; One and one-half stories; Ground-level entry with steps
• Construction: Vinyl siding; Brick/mortar foundation; Asphalt roof; Built date not provided
• Exterior features: Deck; Porch; Back yard fence; Paved road access

Interior

• Kitchen: Free-standing gas range; Free-standing refrigerator; Dishwasher not listed
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Ceiling fans; No central air
• Interior features: Finished basement; 7 total rooms
• Laundry & utility: Laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $112 ($1k/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 $191k (10.9% below list).
• Recommended offer: $191k (10.9% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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.
• Clarkston Community School District (suburban): math 48% / reading 58% proficiency, ranked #69 of 540 in MI (top 13%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 16% free/reduced lunch — higher-income household profile.
• Market conditions: Rents flat; 144 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 2d 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 $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 29 days — a 2% lower offer ($212k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 16y 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; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $191,477 (10.9% below list)

Questions for the listing agent

1. Built in 1950 — 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. 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?
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: 0.89% ✗
• Cap rate: 6.92%
• Cash-on-cash: 2.23%
• DSCR: 1.10
• GRM: 9.4

CMA / ARV

• ARV (median comp): $316,232
• List price: $214,900
• Delta: -32.04%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6681 Pear Ln	0.25mi	3/1.5 (+1)	1,222 (-2%)	13mo	$320,000	$262	68
6372 Peach Dr	0.43mi	3/1.5 (+1)	1,141 (-8%)	2mo	$310,000	$272	58
6516 E Church St	0.56mi	3/2.0 (+1)	1,298 (+4%)	2mo	$350,000	$270	56
6636 Almond Ln	0.13mi	2/1.5	1,055 (-15%)	22mo	$270,000	$256	48
6300 Crab Apple St	0.38mi	3/1.0 (+1)	1,365 (+10%)	16mo	$247,750	$182	47
6302 Church St	0.27mi	3/2.5 (+1)	1,339 (+8%)	21mo	$341,000	$255	46
6055 Waldon Rd. Rd	0.42mi	3/1.5 (+1)	1,379 (+11%)	13mo	$299,885	$217	44
6588 Snow Apple Dr	0.23mi	3/1.5 (+1)	1,408 (+13%)	20mo	$320,000	$227	44
6255 Clarkston Rd	0.50mi	3/1.0 (+1)	1,393 (+12%)	11mo	$282,500	$203	42
6504 Clarkston Rd	0.72mi	2/1.0	1,161 (-6%)	17mo	$240,000	$207	41
5951 Flemings Lake Rd	0.74mi	3/1.0 (+1)	1,418 (+14%)	13mo	$240,000	$169	26

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 · 0.71% rent growth · sell at horizon

5-year hold

• IRR: -15.2%
• Equity multiple: 0.47×
• Total profit: $-32,028
• Equity at exit: $32,042

10-year hold

• IRR: -10.9%
• Equity multiple: 0.41×
• Total profit: $-35,705
• Equity at exit: $18,581

Cash invested: $60,172 (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 48346

• Rents YoY: 0.7%
• Active inventory: 144
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,915 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$184 /mo · $2,210/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$402
• Net cashflow: $112

Break-even live

Break-even rent $1,773

Max offer price $214,900

Occupancy floor 89%

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: $53,725
• Closing costs: $6,447
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2018 Little Creek Ln Village of Clarkston, MI	2.0	2.0	1572	$2,399	$1.53	2d	3	1.04mi
5801 Bridgewater Dr Clarkston, MI	1.0–3.0	1.0–2.0	950	$1,499	$1.58	2d	5	1.14mi
62 Madison Ct Unit 2 Village of Clarkston, MI	1.0	1.0	780	$1,125	$1.44	18d	1	1.23mi
5800 Deepwood Ct Clarkston, MI	1.0–2.0	1.0–2.0	964	$2,991	$3.10	2d	15	1.39mi
5147 Lancaster Hills Dr Village of Clarkston, MI	1.0–2.0	1.0–2.0	1100	$1,991	$1.81	2d	10	1.48mi

Listing history 10 events

1. 2026-05-13
   price $214,900 536-char remark

   Show marketing remark (536 chars)

   Welcome to a very charming home just minutes from downtown Clarkston, set on a rare and spacious . 91-acre lot. Offering a great location and privacy, this property features a flexible layout with an extra room upstairs - perfect for a home office, guest space, or additional living area. Enjoy the convenience of two garages providing ample storage and workspace, along with a large, usable yard. Located close to shopping, dining, parks, and major commuter routes. A great opportunity to own a well-located property with room to grow.

2. 2026-05-13
   price $214,900 540-char remark

   Show marketing remark (536 chars)

   Welcome to a very charming home just minutes from downtown Clarkston, set on a rare and spacious . 91-acre lot. Offering a great location and privacy, this property features a flexible layout with an extra room upstairs - perfect for a home office, guest space, or additional living area. Enjoy the convenience of two garages providing ample storage and workspace, along with a large, usable yard. Located close to shopping, dining, parks, and major commuter routes. A great opportunity to own a well-located property with room to grow.

3. 2026-04-24
   listed $220,000 Active 536-char remark

   Show marketing remark (536 chars)

   Welcome to a very charming home just minutes from downtown Clarkston, set on a rare and spacious . 91-acre lot. Offering a great location and privacy, this property features a flexible layout with an extra room upstairs - perfect for a home office, guest space, or additional living area. Enjoy the convenience of two garages providing ample storage and workspace, along with a large, usable yard. Located close to shopping, dining, parks, and major commuter routes. A great opportunity to own a well-located property with room to grow.

4. 2026-04-24
   listed $220,000 Active 540-char remark

   Show marketing remark (536 chars)

   Welcome to a very charming home just minutes from downtown Clarkston, set on a rare and spacious . 91-acre lot. Offering a great location and privacy, this property features a flexible layout with an extra room upstairs - perfect for a home office, guest space, or additional living area. Enjoy the convenience of two garages providing ample storage and workspace, along with a large, usable yard. Located close to shopping, dining, parks, and major commuter routes. A great opportunity to own a well-located property with room to grow.

5. 2010-06-29
   soldstatus $41,550

   Show marketing remark (449 chars)

   NICE 2 BEDROOM HOME WITH LOTS OF LAND AND HARD WOOD FLOORING, DECK ON BACK. PARTIALLY FINISHED ATTIC. CORP DISCLOSURES, ADDENDA AND BANK PREAPPROVAL OR PROOF OF FUNDS TO ACCOMPANY ALL OFFERS. LISTING BROKER TO HOLD EMD. PROPERTY SOLD 'AS IS' BUYER RESPONSIBLE FOR ANY MUNICIPAL REQUIREMENTS AND BUYER TO VERIFY ALL INFORMATION. FREDDIE MAC IS OFFERING A 2 YEAR HOME WARRANTY AND UP TO 3.5% BUYERS CLOSING COST. (COUPON MUST BE SUBMITTED WITH OFFER).

6. 2010-06-29
   soldstatus $41,550

   Show marketing remark (449 chars)

   NICE 2 BEDROOM HOME WITH LOTS OF LAND AND HARD WOOD FLOORING, DECK ON BACK. PARTIALLY FINISHED ATTIC. CORP DISCLOSURES, ADDENDA AND BANK PREAPPROVAL OR PROOF OF FUNDS TO ACCOMPANY ALL OFFERS. LISTING BROKER TO HOLD EMD. PROPERTY SOLD 'AS IS' BUYER RESPONSIBLE FOR ANY MUNICIPAL REQUIREMENTS AND BUYER TO VERIFY ALL INFORMATION. FREDDIE MAC IS OFFERING A 2 YEAR HOME WARRANTY AND UP TO 3.5% BUYERS CLOSING COST. (COUPON MUST BE SUBMITTED WITH OFFER).

7. 2010-04-09
   historical
8. 2010-02-04
   listed $49,900

   Show marketing remark (449 chars)

   NICE 2 BEDROOM HOME WITH LOTS OF LAND AND HARD WOOD FLOORING, DECK ON BACK. PARTIALLY FINISHED ATTIC. CORP DISCLOSURES, ADDENDA AND BANK PREAPPROVAL OR PROOF OF FUNDS TO ACCOMPANY ALL OFFERS. LISTING BROKER TO HOLD EMD. PROPERTY SOLD 'AS IS' BUYER RESPONSIBLE FOR ANY MUNICIPAL REQUIREMENTS AND BUYER TO VERIFY ALL INFORMATION. FREDDIE MAC IS OFFERING A 2 YEAR HOME WARRANTY AND UP TO 3.5% BUYERS CLOSING COST. (COUPON MUST BE SUBMITTED WITH OFFER).

9. 2010-02-03
   listed $49,900
10. 2000-11-03
    soldstatus $120,000

ⓘ 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: $2,210 · $184/mo
• Projected year-2 tax: $2,760 · $230/mo
• Expected delta: +$550/yr (+$46/mo · 24.9%)

ⓘ 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 ≥95°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: $22,977
• − Mortgage interest: −$12,038
• − Property taxes: −$2,210
• − Insurance: −$1,074
• − Repairs & maintenance: −$1,838
• − Management: −$1,838
• − Depreciation: −$6,252
• Taxable loss: −$2,273
• Est. tax savings @ 24.0%: +$546
• After-tax cash flow: $1,889/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: Clarkston Community School District
• NCES district ID: 2609900
• Math proficiency: 48% ▼ -8.00%
• Reading proficiency: 58% ▼ -5.00%
• Median HH income: $79,317
• Composite: 48.04/100
• National rank: #2193
• State rank: #69 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): 23,167
• Household income: $101,477
• Rent vs Own: 30.9% rent · 69.1% own
• Severe rent burden: 397.0

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 (83%)
• Race & ethnicity: White 83% Two or more races 8% Black 6% Hispanic / Latino 5% Asian 1%
• Common ancestry: Romanian 11% Lithuanian 4% Slovak 3%
• Foreign-born: 5% · Canada, China
• Languages at home: 95% English-only · Spanish 2% German/W. Germanic 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: ▼ -293.12%
• Current HPI: 184.0221
• Rent YoY: ▲ 0.71%
• 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

+51.2% since first listed

14 events — show timeline

• 2026-06-05 Sold (MLS) $181,500 REALCOMP
• 2026-06-05 Sold (MLS) $181,500 MiRealSource-MiMLS
• 2026-05-23 Pending — MiRealSource-MiMLS
• 2026-05-23 Pending — REALCOMP
• 2026-05-13 Price Changed $214,900 MiRealSource-MiMLS
• 2026-05-13 Price Changed $214,900 REALCOMP
• 2026-04-24 Listed $220,000 REALCOMP
• 2026-04-24 Listed $220,000 MiRealSource-MiMLS
• 2010-06-29 Sold (MLS) $41,550 MiRealSource-MiMLS
• 2010-06-29 Sold (MLS) $41,550 REALCOMP
• 2010-04-09 Listing Removed — MiRealSource-MiMLS
• 2010-02-04 Listed $49,900 REALCOMP
• 2010-02-03 Listed $49,900 MiRealSource-MiMLS
• 2000-11-03 Sold (Public Records) $120,000 Public Records

Property tax history

+2.7%/yr

Latest (2025): $2,210 · +4.1% YoY. Source: county tax records.