40 Park Island Drive, Unit 4, Lake Orion Village
$400,000
About this home
Experience Lakefront Living in this spacious 2 bedroom 2 full bath condo overlooking stunning ALL SPORTS Lake Orion. Open concept layout designed for comfortable Lakefront Living and entertainment. Great Room features a gas fireplace. Primary suite offers privacy and direct access to new expansive Trex balcony perfect for enjoying your morning coffee or relax to the gorgeous sunsets. Open concept kitchen with center island, stainless steel newer appliances. 9 ft ceiling. Private boat slip and shed for extra storage. Walking distance to downtown Lake Orion, parks, trails, restaurants, shopping entertainment and more. 24 hour notice to show. Currently tenant occupied. Why rent when you and own and enjoy the Lake Orion lifestyle.
The facts
| Price | $400,000 |
| Original price | $415,000 |
| Price cut | −$15,000 |
| Beds | 2 |
| Baths | 2 full |
| Square feet | 1,331 |
| Type | Condominium |
| Subdivision | PARK ISLAND CONDO |
| County | Oakland |
| MLS # | 20261071495 |
| Listed | 2026-09-04 |
| Days on market | 51 |
| Year built | 1998 |
| Possession | 31–60 days after closing |
| Stories | 2 stories |
| Heating | Forced air, Natural gas |
| Foundation | Slab |
| Water / Sewer | City water & sewer |
| Waterfront | Lake Orion |
| Fireplace | Yes |
| Parcel number | 0911226064 |
| Listing office | Berkshire Hathaway HomeServices Kee Realty |
Property taxes: the seller's bill vs. yours
| This seller today | You, the year after buying | |
|---|---|---|
| Taxable value | $138,900 | about $200,000 |
| Yearly property tax | $6,202 | about $8,969 |
Michigan caps a homeowner's taxable value until the home sells, then it resets. That's about $2,767 a year more than this seller pays. The assessor's state equalized value (SEV) is $149,760. Your taxable value resets to the SEV the year after you buy, and assessors usually raise it to about half the sale price. Estimate uses Lake Orion Village's 2025 homestead rate of 44.84 mills and assumes you claim the homestead exemption. See Lake Orion Village's full tax breakdown or run the uncapping calculator.
Ask Match Realty about this home
IDX provided courtesy of Realcomp II Ltd. via Match Realty LLC and Realcomp II Ltd, ©2026 Realcomp II Ltd. Shareholders. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified. Listings refreshed 2026-10-25T23:19+00:00; refreshed at least twice daily.