500 W Houstonia Ave

Royal Oak, MI 48073
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2 bd, 1 ba | 814 sqft | Built in 1954

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List Price
$184,900

Initial Investment

$50,385

Purchase Price

$184,900

Down Payment

25%

Rent

$1,890

Total Return

$86,056

Annualized Return

24.0%

Cap Rate

7.7%

Gross Yield

12.3%

Cash Flow

$3,365

Appreciation

6.5%
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Features

Occupancy

Unspecified

Lease Start

-

Lease End

-

Property Type

Townhouse

Lot Size

34,148

HOA

$0/mo

Flood Risk

Not Required

Step into this fantastic brick condo, nestled in the desirable Vinsetta area neighborhood in Royal Oak. This end-unit townhouse is packed with character and charm, featuring hardwood flooring throughout most of the home, beautiful wet plaster walls, and coved ceilings in the living and dining areas. Recently updated with a new furnace (Dec 2023), the home also offers private front and back entrances, plus a private basement with laundry area and an abundance of storage space. The location is unbeatable—just moments from Northwood Elementary, local parks (including Patricia Paruch Park, formerly Waterworks Park), and only a short bike ride to downtown Royal Oak. Association dues cover water, exterior maintenance, snow removal, and lawn care. Private resident parking and plenty of street parking.

See more in Analysis
Christopher Stjernholm
Trelora Realty, Inc.
AZ Agent License #359852

Annual Financial Highlights

Expected Rent

$21,546

Expenses

-$4,539

Property Taxes

-$3,590

Loan Payments

-$10,052

Net Cash Flow

$3,365

See more in Financials

Property Characteristics

Buyer's Agent

An experienced local, licensed real estate broker/agent will represent you in this transaction. They will negotiate on your behalf, from your first offer through closing.
  • You can contact your Agent with questions even before making an offer.
  • A professional home inspection will be conducted prior to closing.  This inspection, paid for by Roofstock, will be conducted by a Roofstock-affiliated vendor.  As soon as the report is ready, your Agent will discuss the findings with you and help with any next steps.

Property Management

Why choose?
From repairs and maintenance to communicating with tenants, our preferred property management teams protect your assets and keep things running smoothly.

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Listing Courtesy of:Patrick Hixson
KW Metro
Certified Agent Brokerage:Christopher Stjernholm
Trelora Realty, Inc.
AZ Brokerage License BR689329000
SourceRealcomp II Ltd./Great Lakes Repository (GLR)
MLS #20250017173
Last Updated: 03/15/2025 10:03
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