13 Hours Ago
Location
242 Preston Ave, Waterford, MI 48328, USA|Waterford
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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.
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 32% more than the average rent price for 2-bedroom apartments in Waterford.
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
$70,000/yr
With your selected rent-to-income ratio, you'd ideally want to make $70,000 annually to afford this 2-bedrooms monthly rent price of $1,750.
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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