715 N Altadena Ave · Royal Oak, MI 48067

$289,900

3 bd · 1.0 ba · 1,758 sqft · SingleFamily public records · 6 Days on market

Built 1939 5,663 sqft lot Est $394k · 26% under

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• ARV discount +15.0/15.0
• Cash flow +13.2/30.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• DSCR +4.0/10.0
• 1% rule +3.9/10.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming Bungalow nestled on a beautiful street in the heart of Royal Oak. Minutes from downtown. Nice open layout from the kitchen to the dining area. Hardwood floors are exposed throughout the home and the basement offers an additional half bath a Nice fenced yard.

Key facts

• Fenced yard
• Open layout
• Hardwood floors

Tags

• OPEN LAYOUT
• HARDWOOD FLOORS
• FENCED YARD

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; One and one-half stories; Ground-level entry
• Construction: Vinyl siding; Block foundation
• Exterior features: Paved road access; Lot approximately 0.13 acres (45 x 126)

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Partially finished basement; Basement present

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $290k.

Deal economics

• At list price, monthly cash flow is $-7 ($-87/yr) — negative.
• To cash-flow at today's rent, offer at most $289k (0.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $257k (11.3% below list).
• Recommended offer: $257k (11.3% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 3.7% in Royal Oak — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 83/100 on livability (#50 in MI, #1,020 nationally) — a professional / high-income tenant draw. Strengths: crime A+, commute A+, employment A+; Watch: amenities D+.
• Royal Oak Schools (suburban): math 41% / reading 59% proficiency, ranked #89 of 540 in MI (top 16%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Zoned schools: Keller Elementary (math 27% / reading 52%, grade F, #606 of 1,397 statewide, top 48%, 440 students, 23% FRL); Royal Oak Middle School (math 35% / reading 56%, grade D+, #161 of 493 statewide, top 33%, 1,060 students, 28% FRL); Royal Oak High School (math 49% / reading 75%, grade B-, #58 of 713 statewide, top 9%, 1,341 students, 26% FRL).
• Market conditions: Rents rising fast (+4.7%/yr); 217 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); high-income renter base; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $9k of value loss. Plan a longer hold.
• Oakland County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 22y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $109k; list at $290k implies a 166% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $257,203 (11.3% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1939 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.89% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.11%
• DSCR: 1.00
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $393,792
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
606 N Alexander Ave	0.09mi	3/2.0	1,809 (+3%)	1mo	$367,000	$203	86
715 N Altadena Ave	0.00mi	3/1.5	1,536 (-13%)	0mo	$275,000	$179	77
511 Gardenia Ave	0.35mi	3/2.0	1,717 (-2%)	1mo	$421,000	$245	75
506 N Altadena Ave	0.14mi	3/2.0	1,572 (-11%)	0mo	$352,000	$224	72
201 N Rembrandt Ave	0.33mi	3/1.0	1,926 (+10%)	1mo	$335,000	$174	68
418 N Blair Ave	0.25mi	3/1.5	1,972 (+12%)	1mo	$405,000	$205	65
515 Potter Ave	0.20mi	3/2.0	1,983 (+13%)	1mo	$495,000	$250	64
233 Gardenia Ave	0.48mi	2/1.5 (-1)	1,679 (-4%)	1mo	$390,000	$232	62
900 N Edison Ave	0.54mi	3/1.0	1,623 (-8%)	0mo	$315,000	$194	62
923 N Center St	0.66mi	3/1.5	1,829 (+4%)	1mo	$465,000	$254	60
334 Marlin Ave	0.64mi	3/2.0	1,638 (-7%)	1mo	$335,000	$205	54
1617 N Vermont Ave	0.57mi	3/2.0	1,587 (-10%)	0mo	$420,000	$265	53

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 4.72% rent growth · sell at horizon

5-year hold

• IRR: -14.5%
• Equity multiple: 0.47×
• Total profit: $-42,848
• Equity at exit: $43,225

10-year hold

• IRR: -3.1%
• Equity multiple: 0.77×
• Total profit: $-18,414
• Equity at exit: $25,065

Cash invested: $81,172 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Michigan: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit; mixed climate; Detroit/AA have some protections.

Methodology + full state rankings →

ZIP-level market 48067

• Rents YoY: 4.7%
• Active inventory: 217
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $2,572 high
• Mortgage (P&I): −$1,520
• Tax from tax record: −$398 /mo · $4,777/yr
• Insurance: −$121
• HOA: −$0
• Vacancy / Maint / Mgmt: −$540
• Net cashflow: $-7

Break-even live

Break-even rent $2,581

Max offer price $288,626

Occupancy floor 95%

Sensitivity live

Price	-10% $157	-5% $75	+0% $-7	+5% $-89	+10% $-171
Rent	-10% $-210	-5% $-109	+0% $-7	+5% $94	+10% $196
Rate	-1.0pp $139	-0.5pp $67	base $-7	+0.5pp $-82	+1.0pp $-159

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $72,475
• Closing costs: $8,697
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
709 Hawthorn Ave Royal Oak, MI	3.0	1.5	2248	$3,000	$1.33	26d	1	0.22mi
1106 Grove Ave Royal Oak, MI	4.0	2.5	1289	$2,325	$1.80	0d	1	0.41mi
406 N Campbell Rd Royal Oak, MI	3.0	2.0	1814	$2,500	$1.38	0d	1	0.48mi
1132 N Campbell Rd Royal Oak, MI	2.0–3.0	1.0–1.5	1125	$2,085	$1.85	1d	8	0.57mi
617 E 3rd St Royal Oak, MI	4.0	2.5	2225	$3,100	$1.39	1d	1	0.58mi
508 Marlin Ave Royal Oak, MI	3.0	2.5	1678	$3,000	$1.79	22d	1	0.59mi
615 E 5th St Royal Oak, MI	4.0	3.0	1329	$3,000	$2.26	26d	1	0.67mi
118 N Main St Royal Oak, MI	3.0	1.0–3.0	1432	$6,200	$4.33	0d	4	0.68mi
211 Woodsboro Dr Unit LOWER Royal Oak, MI	3.0	2.0	1800	$1,425	$0.79	26d	1	0.77mi
215 Woodsboro Dr Royal Oak, MI	3.0	2.0	2542	$2,200	$0.87	6d	1	0.77mi
1414 Crooks Rd Unit 2 Royal Oak, MI	3.0	2.0	1400	$1,800	$1.29	26d	1	0.78mi
325 E 6th St Unit 325-10 Royal Oak, MI	2.0	1.5	1400	$1,895	$1.35	7d	1	0.80mi
100 W 5th St Royal Oak, MI	2.0	2.0	1283	$3,015	$2.35	7d	2	0.88mi
674 W Eleven Mile Rd Unit 4B Royal Oak, MI	2.0	2.5	1577	$2,700	$1.71	12d	1	1.02mi
642 Bellaire Ave Madison Heights, MI	3.0	2.5	1750	$2,423	$1.38	23d	1	1.07mi
1723 Edgewood Dr Unit Labs Royal Oak, MI	3.0	3.0	1451	$3,000	$2.07	7d	1	1.08mi
610 W 4th St Royal Oak, MI	3.0	2.5	1700	$2,400	$1.41	0d	1	1.08mi
1031 N Sherman Dr Unit A Royal Oak, MI	3.0	2.5	1500	$3,000	$2.00	3d	1	1.21mi
1016 Greenleaf Dr Royal Oak, MI	4.0	2.5	2249	$2,950	$1.31	7d	1	1.22mi
1100 S Main St Royal Oak, MI	1.0–2.0	1.0–2.0	1179	$6,000	$5.09	0d	3	1.22mi
927 Cedarhill Dr Royal Oak, MI	4.0	2.5	1620	$2,500	$1.54	26d	1	1.24mi
1414 Owana Ave Royal Oak, MI	3.0	1.0	1489	$1,675	$1.12	23d	1	1.27mi
1605 Anne Dr Royal Oak, MI	2.0	3.5	1814	$2,900	$1.60	4d	1	1.33mi
1572 Maryland Club Dr Royal Oak, MI	2.0	2.0	1477	$2,450	$1.66	5d	1	1.35mi
2702 N Main St Royal Oak, MI	3.0	1.5	1500	$2,350	$1.57	4d	1	1.38mi
1337 S Washington Ave Royal Oak, MI	2.0	2.0	1380	$2,350	$1.70	0d	1	1.42mi
159 Allenhurst Ave Royal Oak, MI	3.0	2.0	1955	$2,700	$1.38	0d	1	1.43mi
160 Tiffany Ln Royal Oak, MI	3.0	2.0	2275	$3,000	$1.32	0d	1	1.46mi
25090 Woodward Ave Royal Oak, MI	1.0–3.0	1.0–2.5	1139	$4,195	$3.68	0d	11	1.49mi

Listing history 5 events

1. 2026-06-13
   statusdays on market $289,900 Pending 6 DOM
2. 2026-06-09
   days on market $289,900 Active 4 DOM
3. 2026-06-08
   days on market $289,900 Active 3 DOM
4. 2026-06-07
   remarks 267-char remark
5. 2026-06-07
   listed $289,900 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $4,777 · $398/mo
• Projected year-2 tax: $4,777 · $398/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥98°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 5 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,864
• − Mortgage interest: −$16,239
• − Property taxes: −$4,777
• − Insurance: −$1,450
• − Repairs & maintenance: −$2,469
• − Management: −$2,469
• − Depreciation: −$8,433
• Taxable loss: −$4,973
• Est. tax savings @ 24.0%: +$1,193
• After-tax cash flow: $1,107/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Royal Oak Schools
• NCES district ID: 2630300
• Math proficiency: 41% ▼ -10.00%
• Reading proficiency: 59% ▼ -3.00%
• Median HH income: $65,456
• Composite: 44.19/100
• National rank: #2853
• State rank: #89 of 540 in MI

Livability — Royal Oak

• Score: 83/100
• State rank: #50
• US rank: #1020

Category grades

Amenities D+ Commute A+ Cost of living A Crime A+ Employment A+ Housing A+ Health & safety C User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Royal Oak, MI
• County: Oakland County · 1,009,092 people
• City population: 57,974
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 24,868
• Household income: $112,840
• Rent vs Own: 32.5% rent · 67.5% own
• Severe rent burden: 625.0

Population outlook (Oakland County) Hauer SSP2

• Today (2025): 1,335,747 people
• By 2030: 1,375,100 · +2.9%
• By 2040: 1,435,385 · +7.5%
• By 2050: 1,469,250 · +10.0%
• By 2075: 1,531,946 · +14.7%
• By 2100: 1,450,485 · +8.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (82%)
• Race & ethnicity: White 82% Hispanic / Latino 7% Two or more races 7% Black 3% Asian 3%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Romanian 12% Lithuanian 4% Slovak 4%
• Foreign-born: 7% · Canada, China, South Korea
• Languages at home: 92% English-only · Spanish 2% Other Indo-European 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Oakland

• 2024 margin: D (+10.6) · D 54.4% · R 43.8% · Other 1.9%
• 2008→2024 swing: -3.9pp toward R · 2008: 14.5pp · 2024: 10.6pp
• All cycles: 2024: D+10.6 2020: D+14.1 2016: D+8.1 2012: D+8.1 2008: D+14.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -571.62%
• Current HPI: 224.5887
• Rent YoY: ▲ 4.72%
• Metro: Detroit-Warren-Dearborn, MI
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

Industry mix (Fortune 500 HQ in MI)

Industry	F500 HQs	Revenue
▸Automotive Parts	3	$48B
▸Automotive	2	$372B
▸Chemicals	1	$45B
▸Automotive Retail	1	$29B
▸Healthcare / Medical Devices	1	$23B
▸Automotive Technology	1	$20B

Price history

+314.1% since first listed

16 events — show timeline

• 2026-06-05 Listed $289,900 MiRealSource-MiMLS
• 2026-06-05 Listed $289,900 REALCOMP
• 2011-12-05 Sold (MLS) $108,900 REALCOMP
• 2011-12-05 Sold (MLS) $108,900 MiRealSource-MiMLS
• 2011-11-08 Listing Removed — MiRealSource-MiMLS
• 2011-08-05 Listed $109,900 REALCOMP
• 2011-08-05 Listed $109,900 MiRealSource-MiMLS
• 2010-12-08 Listing Removed — REALCOMP
• 2010-07-05 Listed $139,500 REALCOMP
• 2004-07-15 Sold (Public Records) $178,000 Public Records
• 2004-06-23 Sold (MLS) $178,000 MiRealSource-MiMLS
• 2004-06-23 Sold (MLS) $178,000 REALCOMP
• 2004-05-17 Listing Removed — MiRealSource-MiMLS
• 2004-03-23 Listed $184,900 MiRealSource-MiMLS
• 2004-03-23 Listed $184,900 REALCOMP
• 1992-08-04 Sold (Public Records) $70,000 Public Records

Property tax history

+5.0%/yr

Latest (2025): $4,777 · +2.7% YoY. Source: county tax records.