Real Estate Investing in Waterford, Michigan (48328)
Should you buy in 48328 (Waterford, MI)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Waterford, MI (48328)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 48328 Waterford
ZIP 48328 in Waterford, MI carries a substantial set of headwinds. Home values near $259K and rents of $1,313/mo sit inside a market where underwriting has to be tight.
Rent of $1,313/mo on a $259K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 48328 sits below the stated 0.0% once reality is priced in.
The gap between 48328 and stronger Waterford ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Who lives in 48328 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Distressed ZIPs reward experience. robust returns are possible in 48328, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Waterford:
Property Strategy for 48328
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $115,967 | $1,070 | 6.6% | +4.5% | $115,967 |
| 2BR | $198,908 | $1,350 | 4.9% | +7.1% | $99,454 |
| 3BR | $261,367 | $1,650 | 4.5% | +6.6% | $87,122 |
| 4BR | $326,391 | $1,790 | 3.9% | +5.9% | $81,598 |
| 5BR | $441,197 | — | — | +6.5% | $88,239 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 48328 Compare?
| Metric | 48328 | Waterford | Detroit-Warren-Dearborn, MI | Michigan |
|---|---|---|---|---|
| Home Value | $258,849 | $279,418 | N/A | $253,279 |
| 5-Year CAGR | 5.2% | 5.4% | N/A | 6.8% |
| Avg Rent | $1,313 | $1,421 | N/A | - |
| Cap Rate | 4.0% | 4.0% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 48328 (Waterford, MI). Anonymous, moderated, never written by AI.
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Property managers serving Oakland County
Manage rentals here? List your business →Symmetry Management specializes in commercial real estate management. summary from their website
Beacon Management offers property management services for various communities and properties across Michigan, including Ann Arbor, Auburn Hills, Bloomfield Hills, Canton, and Southfield. summary from their website
Great Day Realty is a real estate company. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $258,849 |
| Monthly Rent | $1,313 |
| Price-to-Rent | 16.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.1% |
| Cap Rate | 4.0% |
| 5-Year IRR | 9.2% |
📈 Home Appreciation
| 1-Year | +6.1% ▲ |
| 3-Year CAGR | +5.1% ▲ |
| 5-Year CAGR | +5.2% ▲ |
| 10-Year CAGR | +6.9% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.5%) exceeds the estimated cap rate (4.0%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 48328
Population: 25,409
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 48328
Schools in This ZIP Code
Nearby Schools (4 more)
Schools in adjacent ZIP codes that may serve this area
Riverside Elementary School
Knudsen Elementary School
Haviland Elementary School
Beaumont Elementary School
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 7,973 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much is rent in Waterford, MI?
The typical rental in Waterford, MI commands about $1,313/mo monthly. That rent profile measured cash flow against the $259K purchase basis.
How do experienced investors play Waterford, MI?
In Waterford, MI the robust play is typically careful cash-flow rentals with hands-on management. The combination of $259K prices and $1,313/mo rents suits that approach.
What is the investability score for Waterford, MI?
Waterford, MI scores 3.0/5 for investability. Home values sit at $259K and rents near $1,313/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
How tight is the rental market in Waterford, MI?
Occupancy in Waterford, MI runs reliable with elevated vacancy. Well-priced units at $1,313/mo lease on reasonable timelines.
What does house hacking look like in Waterford, MI?
Waterford, MI is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $259K price point reasonable to enter.
See what 48328 really looks like for investors
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