4921 Crooks Rd Unit N10 · Royal Oak, MI 48073

$124,900

1 bd · 1.0 ba · 703 sqft · Condo public records · 18 Days on market

Built 1965 $178/sqft · 12% above area Est $124k · at est. $260/mo HOA · 21% of rent

---

Why this score? — see what drove the D 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).

• Cash flow +10.9/30.0
• ARV discount +7.3/15.0
• 1% rule +5.1/10.0
• Livability +4.2/5.0
• Schools +3.8/10.0
• DSCR +3.1/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Modern, fresh, and truly move-in ready! This beautifully updated third-floor condo offers a bright, open layout with stylish finishes throughout. The brand-new kitchen features quartz countertops, a sleek backsplash, and new appliances, while the fully updated bathroom adds a clean, modern touch. Enjoy new luxury vinyl flooring, updated lighting, and a private balcony perfect for relaxing. The basement includes a shared washer and dryer area along with personal storage space. Association fee includes water. Conveniently located near downtown Royal Oak, Birmingham, Clawson, and just minutes from I-75.

Key facts

• $260 HOA
• Built 1965
• Listed 17 days

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee of $260

Exterior

• Parking: No garage; Carport
• Utilities: Public water; Public sewer
• Home design: One-story residential condominium; Brick construction
• Construction: Brick construction; Brick/mortar foundation
• Exterior features: Paved road access; Pets allowed (contact for details)

Interior

• Bedrooms: Total of 4 rooms (bedrooms not individually specified)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); No central cooling
• Interior features: Ground-level entry; Unfinished basement
• Laundry & utility: Common area laundry

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $125k.

Deal economics

• At list price, monthly cash flow is $-56 ($-669/yr) — negative.
• To cash-flow at today's rent, offer at most $115k (7.9% below list).
• Meets the 1% rule at list price ($1k rent vs $125k).
• Recommended offer: $115k (7.9% below list) — sets the bar for cash-flow.
• Cap rate 5.8% 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+.
• Clawson Public Schools (suburban): math 33% / reading 55% proficiency, ranked #148 of 540 in MI (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: Rents rising (+2.4%/yr); 260 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent is only 17% of the median local income ($92k/yr) — well below the 30% rent-burden line; pricing power to push rent on renewal without tenant pushback.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k 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

• It's been on market 18 days — a 2% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts 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 $75k; list at $125k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: HOA is 21% of rent.

Recommended offer $115,055 (7.9% 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 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.01% ✓
• Cap rate: 5.76%
• Cash-on-cash: -1.91%
• DSCR: 0.91
• GRM: 8.3

CMA / ARV

• ARV (median comp): $124,456
• List price: $124,900
• Delta: 0.44%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.36% rent growth · sell at horizon

5-year hold

• IRR: -20.2%
• Equity multiple: 0.30×
• Total profit: $-24,461
• Equity at exit: $18,623

10-year hold

• IRR: -14.7%
• Equity multiple: 0.18×
• Total profit: $-28,591
• Equity at exit: $10,799

Cash invested: $34,972 (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 48073

• Rents YoY: 2.4%
• Active inventory: 260
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,262 high
• Mortgage (P&I): −$655
• Tax from tax record: −$85 /mo · $1,024/yr
• Insurance: −$52
• HOA: −$260
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $-56

Break-even live

Break-even rent $1,332

Max offer price $115,055

Occupancy floor 99%

Sensitivity live

Price	-10% $15	-5% $-20	+0% $-56	+5% $-91	+10% $-126
Rent	-10% $-155	-5% $-106	+0% $-56	+5% $-6	+10% $44
Rate	-1.0pp $7	-0.5pp $-24	base $-56	+0.5pp $-88	+1.0pp $-121

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4905 Crooks Rd Unit A5 Royal Oak, MI	1.0	1.0	703	$1,250	$1.78	25d	1	0.04mi
4805 Woodland Ave Royal Oak, MI	2.0	1.0	627	$1,308	$2.08	3d	12	0.23mi
249 S Crooks Rd Clawson, MI	1.0	1.0	650	$1,245	$1.92	6d	1	0.30mi
4910 Briarwood Ave Unit A Royal Oak, MI	1.0	1.0	589	$1,200	$2.04	19d	1	0.38mi
403 S Crooks Rd Unit 409 Clawson, MI	1.0	1.0	675	$1,195	$1.77	25d	1	0.38mi
403 S Crooks Rd Unit 413 Clawson, MI	1.0	1.0	675	$1,225	$1.81	25d	1	0.38mi
403 S Crooks Rd Unit 421 Clawson, MI	1.0	1.0	675	$1,195	$1.77	20d	1	0.38mi
2131 Normandy Rd Royal Oak, MI	1.0	1.0	600	$1,200	$2.00	13d	1	0.69mi
4031 Crooks Rd Unit 4006 Royal Oak, MI	1.0	1.0	525	$1,095	$2.09	25d	1	0.72mi
4031 Crooks Rd Unit 4004 Royal Oak, MI	1.0	1.0	525	$1,095	$2.09	21d	1	0.72mi
3830 Devon Rd Unit 3830-04 Royal Oak, MI	1.0	1.0	525	$1,195	$2.28	25d	1	0.80mi
3807 Crooks Rd Royal Oak, MI	2.0	1.0	549	$1,072	$1.95	0d	7	0.87mi
2325 13 Mile Rd Royal Oak, MI	1.0	1.0	650	$1,320	$2.03	5d	2	1.22mi
3230 Shenandoah Dr #16 Royal Oak, MI	1.0	1.0	560	$1,180	$2.11	6d	1	1.28mi
3220 Shenandoah Dr #12 Royal Oak, MI	2.0	1.0	688	$1,250	$1.82	25d	1	1.29mi
2817 W 13 Mile Rd Royal Oak, MI	2.0	1.0	688	$1,250	$1.82	25d	1	1.34mi
155 Amelia St Royal Oak, MI	1.0–4.0	1.0–2.5	971	$1,290	$1.33	4d	7	1.34mi
2859 E Maple Rd #15 Birmingham, MI	1.0	1.0	685	$1,250	$1.82	5d	1	1.36mi
2859 E Maple Rd #15 Birmingham, MI	1.0	1.0	685	$1,250	$1.82	25d	1	1.36mi
3009 W 13 Mile Rd Royal Oak, MI	1.0–2.0	1.0	730	$1,449	$1.98	0d	29	1.41mi
470 E Elmwood Ave Clawson, MI	1.0	1.0	675	$1,210	$1.79	25d	1	1.45mi
2567 E Maple Rd Unit 5 Birmingham, MI	1.0	1.0	670	$1,225	$1.83	25d	1	1.46mi

HOA detail condo

• Monthly dues: $260 · $3,120/yr
• Likely covers: water
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 44 events

1. 2026-06-21
   days on market $124,900 Active 18 DOM
2. 2026-06-18
   days on market $124,900 Active 15 DOM
3. 2026-06-17
   days on market $124,900 Active 14 DOM
4. 2026-06-16
   days on market $124,900 Active 13 DOM
5. 2026-06-15
   days on market $124,900 Active 12 DOM
6. 2026-06-13
   days on market $124,900 Active 10 DOM
7. 2026-06-09
   days on market $124,900 Active 6 DOM
8. 2026-06-08
   days on market $124,900 Active 5 DOM
9. 2026-06-07
   days on market $124,900 Active 4 DOM
10. 2026-06-04
    remarks 607-char remark

    Show marketing remark (607 chars)

    Modern, fresh, and truly move-in ready! This beautifully updated third-floor condo offers a bright, open layout with stylish finishes throughout. The brand-new kitchen features quartz countertops, a sleek backsplash, and new appliances, while the fully updated bathroom adds a clean, modern touch. Enjoy new luxury vinyl flooring, updated lighting, and a private balcony perfect for relaxing. The basement includes a shared washer and dryer area along with personal storage space. Association fee includes water. Conveniently located near downtown Royal Oak, Birmingham, Clawson, and just minutes from I-75.

11. 2026-06-04
    pricedays on marketlisting id $124,900 Active 1 DOM

    Show marketing remark (607 chars)

    Modern, fresh, and truly move-in ready! This beautifully updated third-floor condo offers a bright, open layout with stylish finishes throughout. The brand-new kitchen features quartz countertops, a sleek backsplash, and new appliances, while the fully updated bathroom adds a clean, modern touch. Enjoy new luxury vinyl flooring, updated lighting, and a private balcony perfect for relaxing. The basement includes a shared washer and dryer area along with personal storage space. Association fee includes water. Conveniently located near downtown Royal Oak, Birmingham, Clawson, and just minutes from I-75.

12. 2026-06-01
    days on market $125,000 Active 34 DOM
13. 2026-05-31
    days on market $125,000 Active 33 DOM
14. 2026-05-11
    price $125,000 526-char remark
15. 2026-05-11
    price $125,000 526-char remark
16. 2026-04-29
    price $129,000 526-char remark
17. 2026-04-29
    listed $1,290,000 Active 526-char remark
18. 2026-04-29
    listed $129,000 Active 526-char remark
19. 2026-04-29
    price $129,000 526-char remark
20. 2026-04-29
    historical $1,290,000 526-char remark
21. 2026-03-30
    soldstatus $75,000 Sold
22. 2026-03-30
    soldstatus $75,000 Closed
23. 2026-03-30
    soldstatus $75,000 Closed
24. 2026-03-19
    status Pending
25. 2026-03-19
    status Pending
26. 2026-03-19
    status Pending
27. 2025-11-25
    status Active
28. 2025-11-25
    status Active
29. 2025-11-25
    status Active
30. 2025-11-12
    status Pending
31. 2025-11-12
    status Pending
32. 2025-11-12
    status Pending
33. 2025-11-04
    price $100,000
34. 2025-11-03
    price $100,000
35. 2025-11-03
    price $100,000
36. 2025-10-09
    price $110,000
37. 2025-10-08
    price $110,000
38. 2025-10-08
    price $110,000
39. 2025-09-02
    listed $118,000 Active
40. 2025-09-02
    listed $118,000 Active
41. 2025-09-02
    listed $118,000 Active
42. 1996-07-19
    soldstatus $38,000
43. 1993-04-15
    soldstatus $40,000
44. 1992-03-20
    soldstatus $24,028

ⓘ 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: $1,024 · $85/mo
• Projected year-2 tax: $1,474 · $123/mo
• Expected delta: +$450/yr (+$37/mo · 43.9%)

ⓘ 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 3/10 Moderate 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 3 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,139
• − Mortgage interest: −$6,996
• − Property taxes: −$1,024
• − Insurance: −$624
• − Repairs & maintenance: −$1,211
• − Management: −$1,211
• − HOA: −$3,120
• − Depreciation: −$3,633
• Taxable loss: −$2,682
• Est. tax savings @ 24.0%: +$644
• After-tax cash flow: $-25/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: Clawson Public Schools
• NCES district ID: 2609930
• Math proficiency: 33% ▼ -4.00%
• Reading proficiency: 55% ▲ 3.00%
• Median HH income: $56,014
• Composite: 38.3/100
• National rank: #4230
• State rank: #148 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): 33,106
• Household income: $91,627
• Rent vs Own: 31.6% rent · 68.4% own
• Severe rent burden: 718.0

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 (80%)
• Race & ethnicity: White 80% Black 8% Two or more races 6% Asian 4% Hispanic / Latino 3%
• Common ancestry: Romanian 13% Lithuanian 4% Slovak 3%
• Foreign-born: 7% · Canada, China
• Languages at home: 94% English-only · Spanish 1% Chinese 1% Other Indo-European 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: ▼ -479.60%
• Current HPI: 215.8425
• Rent YoY: ▲ 2.36%
• 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

+419.8% since first listed

36 events — show timeline

• 2026-06-04 Listed $124,900 MiRealSource-MiMLS
• 2026-06-04 Listed $124,900 REALCOMP
• 2026-06-03 Coming Soon $124,900 MiRealSource-MiMLS
• 2026-06-02 Listing Removed — REALCOMP
• 2026-06-02 Listing Removed — MiRealSource-MiMLS
• 2026-05-11 Price Changed $125,000 MiRealSource-MiMLS
• 2026-05-11 Price Changed $125,000 REALCOMP
• 2026-04-29 Price Changed $129,000 MiRealSource-MiMLS
• 2026-04-29 Listed $1,290,000 MiRealSource-MiMLS
• 2026-04-29 Listed $129,000 REALCOMP
• 2026-04-29 Price Changed $129,000 REALCOMP
• 2026-04-29 Coming Soon — MiRealSource-MiMLS
• 2026-03-30 Sold (MLS) $75,000 MiRealSource-MiMLS
• 2026-03-30 Sold (MLS) $75,000 SW Michigan MLS
• 2026-03-30 Sold (MLS) $75,000 REALCOMP
• 2026-03-19 Pending — MiRealSource-MiMLS
• 2026-03-19 Pending — REALCOMP
• 2026-03-19 Pending — SW Michigan MLS
• 2025-11-25 Relisted — MiRealSource-MiMLS
• 2025-11-25 Relisted — REALCOMP
• 2025-11-25 Relisted — SW Michigan MLS
• 2025-11-12 Pending — MiRealSource-MiMLS
• 2025-11-12 Pending — REALCOMP
• 2025-11-12 Pending — SW Michigan MLS
• 2025-11-04 Price Changed $100,000 MiRealSource-MiMLS
• 2025-11-03 Price Changed $100,000 REALCOMP
• 2025-11-03 Price Changed $100,000 SW Michigan MLS
• 2025-10-09 Price Changed $110,000 MiRealSource-MiMLS
• 2025-10-08 Price Changed $110,000 REALCOMP
• 2025-10-08 Price Changed $110,000 SW Michigan MLS
• 2025-09-02 Listed $118,000 REALCOMP
• 2025-09-02 Listed $118,000 MiRealSource-MiMLS
• 2025-09-02 Listed $118,000 SW Michigan MLS
• 1996-07-19 Sold (Public Records) $38,000 Public Records
• 1993-04-15 Sold (Public Records) $40,000 Public Records
• 1992-03-20 Sold (Public Records) $24,028 Public Records

Property tax history

+2.2%/yr

Latest (2025): $1,024 · +2.6% YoY. Source: county tax records.