1 Day Ago
Location
242 Preston Ave, Waterford, MI 48328, USA|Waterford
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Property Overview
This summary uses Zumper’s proprietary data. “Things you’ll love” and “Great for” are based on our internal analyses of market trends and renter insights.
Things you’ll love
Elementary school nearby- High school nearby
- Images Available
Great for
Pet owners
Amenities for 242 Preston Ave, Waterford
Apartment Amenities
| Air Conditioning | Balcony |
| Ceiling Fan | Dryer |
| Forced Air | Freezer |
| Hardwood Floor | Linoleum Vinyl |
| Tile |
Appliances
| Dishwasher | Garbage Disposal |
| In-Unit Laundry | Microwave |
| Range/Oven | Refrigerator |
Tech
| Cable Ready | Wired For Internet |
Building
| Dogs OK | Fitness Center |
| Onsite Laundry |
Grounds
| Fenced Yard | Garage Parking |
| Hot Tub/Spa | Lawn |
| Outdoor Space | Storage |
Services
| Recycling |
Neighborhood
| Near Parks |
Units, floor plans, amenities, dimensions, details, availability, and prices may be approximate and subject to change. Please contact a community representative for more information.
Policies and fees
Applicants
Applicants
One-time.
Contact Property
REQUIRED FEES
Security Deposit
One-time. Refundable.
Contact Property
Dog Policy
Allowed
Cat Policy
Not allowed
Contact for more information on pet policy.
Questions about this property’s policies and fees?
Building details
Property details
| Lease terms | 12+ months |
|---|
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About 242 Preston Ave
Property Id: 2328767 This charming 2-bedroom, 2-bathroom ranch in Waterford, Michigan, offers a perfect blend of modern updates and cozy comfort. Extensively remodeled in 2025, the home features approximately 1,394 square feet of total living space, including a partially finished basement and high-end finishes throughout. Interior Highlights: Modern Kitchen: A fully remodeled kitchen featuring sleek white cabinetry, newer appliances (dishwasher, gas range, refrigerator, and microwave), and stylish vinyl plank flooring. Both bathrooms feature jacuzzi tubs. Elegant Living Spaces: Enjoy the warmth of original hardwood floors throughout the living room and bedrooms, complemented by recessed lighting and ceiling fans for year-round comfort. Versatile Basement: The 890 -square-foot partially finished lower level provides a second full bathroom, a dedicated laundry area, and ample room for storage, home office, gym, etc. Year-Round Comfort: Equipped with ceiling fans, central air conditioning and forced air natural gas heating. Ample Parking: Includes an extra deep 2-car detached garage and a private driveway. Prime Location: Minutes from Otter Lake and Sylvan Lake, and walking distance to Donelson Hills Elementary. Renter Criteria & Requirements To ensure a high standard of living for all residents, applicants must meet the following criteria: Rent-to-Income Ratio: A gross monthly income of at least 3x the monthly rent is required. Credit Score: Applicants should have a minimum credit score of 600 to 650 to be considered. Background Check: A comprehensive background check will be conducted for all adult applicants, including criminal history, eviction records, and credit reports. Other Factors: Positive references from previous landlords and proof of stable employment are highly encouraged.
Property highlights
We compared every listing in the surrounding area to determine which amenities are most common. If a building lacks an amenity that most others in the area have, it is a con. If a building has an amenity most others in the area do not, it is a pro. Similarly, price, schools, and size are calculated relative to the size, price, and distance to schools of the other properties nearby.How 242 Preston Ave compares to other nearby properties.
Positives
- Elementary school nearby
- There is an elementary school 0.3 mile away
- High school nearby
- There is a high school 1 mile away
- Images Available
- There are at least 10 photos of this address
- Laundry available on site
- Washers and dryers are available in-building or in-unit
- Pet friendly
- This property allows pets
Address details
| Neighborhood | Waterford |
|---|---|
| Zip code | 48328 |
| Type | House for rent |
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Rent trends in Waterford
2-bedroom apartments at 242 Preston Ave cost about 28% more than the average rent price for 2-bedroom apartments in Sylvan Lake.
Median rents as of Jan 17 2026.
Waterford
Sylvan Lake
| Month | Median Rent |
|---|---|
| February 2024 | $1,268 |
| March 2024 | $1,362 |
| April 2024 | $1,387 |
| May 2024 | $1,300 |
| June 2024 | $1,335 |
| July 2024 | $1,318 |
| August 2024 | $1,422 |
| September 2024 | $1,428 |
| October 2024 | $1,367 |
| November 2024 | $1,336 |
| December 2024 | $1,294 |
| January 2025 | $1,423 |
| February 2025 | $1,566 |
| March 2025 | $1,597 |
| April 2025 | $1,506 |
| May 2025 | $1,969 |
| June 2025 | $2,498 |
| July 2025 | $2,321 |
| August 2025 | $1,490 |
| September 2025 | $1,433 |
| October 2025 | $1,469 |
| November 2025 | $1,520 |
| December 2025 | $1,404 |
| January 2026 | $1,391 |
| Month | Median Rent |
|---|---|
| February 2024 | $1,268 |
| March 2024 | $1,333 |
| April 2024 | $1,369 |
| May 2024 | $1,300 |
| June 2024 | $1,332 |
| July 2024 | $1,318 |
| August 2024 | $1,422 |
| September 2024 | $1,429 |
| October 2024 | $1,444 |
| November 2024 | $1,344 |
| December 2024 | $1,294 |
| January 2025 | $1,393 |
| February 2025 | $1,608 |
| March 2025 | $1,608 |
| April 2025 | $1,480 |
| May 2025 | $1,979 |
| June 2025 | $2,498 |
| July 2025 | $2,316 |
| August 2025 | $1,448 |
| September 2025 | $1,399 |
| October 2025 | $1,411 |
| November 2025 | $1,416 |
| December 2025 | $1,349 |
| January 2026 | $1,322 |
Affordability calculator
Can I afford to live at 242 Preston Ave?
Bedrooms
2 bedroomsRent-to-income ratio
30%
Slide to adjust the percentage of your monthly income you are willing to spend on rent.
The general rule of thumb is to spend around 30% or less of your income on rent.
Recommended income
$68,000/yr
With your selected rent-to-income ratio, you'd ideally want to make $68,000 annually to afford this 2-bedrooms monthly rent price of $1,700.
For more information on rent affordability, visit our rent calculator.
Schools near 242 Preston Ave
Donelson Hills Elementary School
2690 wewoka rd
waterford, MI, 48328
K-5Public
C
Children's Village School
1200 n telegraph rd
pontiac, MI, 48341
K-12Public
Kingsley Montgomery School
4265 halkirk dr
waterford, MI, 48329
PK, K-12Public
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Internet available near 242 Preston Ave
Getting around Waterford near 242 Preston Ave
Walking
5/10
Some shops and stores are within a few minutes.
Driving
7/10
This area is close to freeways and has adequate parking options.
Cycling
4/10
This is semi-bikeable, but you’ll need another way of getting around.
Transit
0/10
FYI, there are little to no public transit options within walking distance.
Points of interest for 242 Preston Ave, Waterford
Groceries
8/10
At least one supermarket within a 15-minute walk
Shopping
5/10
Several shops within walking distance
Cafes
5/10
Some cafés within a few minutes’ walk
Restaurants
5/10
Some restaurants within a few minutes’ walk
Primary schools
9/10
At least one elementary school within a 10-minute walk
High schools
2/10
At least one high school within a 30-minute walk
Parks
5/10
Moderate amount of park space nearby
Nightlife
3/10
Some bars within walking distance
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