25777 Woodward Ave #204 · Royal Oak, MI 48067

$175,000

2 bd · 1.0 ba · 950 sqft · Condo public records · 126 Days on market

Built 1952 $184/sqft · at area comps Est $182k · at est. $426/mo HOA · 20% of rent

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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).

• Cash flow +15.2/30.0
• ARV discount +9.2/15.0
• 1% rule +7.0/10.0
• Schools +4.9/10.0
• DSCR +4.7/10.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Location Location Location Location! Charming 2 bedroom condo features original hardwood floors. Efficient layout with spacious living room. Bathroom with ceramic tile. Primary bedroom with walk in closet. Furnace and A/C replaced 2025. Common basement with laundry room and designated storage area. Walking distance to Detroit Zoo, Downtown Royal Oak, Huntington Woods.

Key facts

• Laundry room
• Ceramic tile
• Walk in closet

Tags

• ORIGINAL HARDWOOD FLOORS
• SPACIOUS LIVING ROOM
• CERAMIC TILE
• WALK IN CLOSET
• COMMON BASEMENT
• LAUNDRY ROOM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $175k.

Deal economics

• At list price, monthly cash flow is $61 ($727/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $175k).
• Recommended offer: $154k (12.0% below list) — sets the bar for market timing.
• Cap rate 6.7% vs local median 3.8% 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+.
• Berkley School District (suburban): math 47% / reading 62% proficiency, ranked #64 of 540 in MI (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 18% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+4.7%/yr); 209 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 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 $1k of loan paydown is wiped out by about $5k 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 126 days — a 12% lower offer ($154k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 21y ago; this cycle's ask is 11567% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $127k; 38% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: HOA is 20% of rent; built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $154,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 126 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1952 — 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
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: 1.20% ✓
• Cap rate: 6.71%
• Cash-on-cash: 1.48%
• DSCR: 1.07
• GRM: 6.9

CMA / ARV

• ARV (median comp): $181,908
• List price: $175,000
• Delta: -3.80%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -11.3%
• Equity multiple: 0.58×
• Total profit: $-20,530
• Equity at exit: $26,093

10-year hold

• IRR: 1.0%
• Equity multiple: 1.08×
• Total profit: $3,908
• Equity at exit: $15,131

Cash invested: $49,000 (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: 209
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,101 high
• Mortgage (P&I): −$918
• Tax from tax record: −$182 /mo · $2,187/yr
• Insurance: −$73
• HOA: −$426
• Vacancy / Maint / Mgmt: −$441
• Net cashflow: $61

Break-even live

Break-even rent $2,024

Max offer price $175,000

Occupancy floor 92%

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: $43,750
• Closing costs: $5,250
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1100 S Main St Royal Oak, MI	1.0–2.0	1.0–2.0	1179	$6,000	$5.09	1d	3	0.39mi
310 W 6th St Unit 310-309 Royal Oak, MI	1.0	1.0	700	$1,495	$2.14	24d	1	0.41mi
620 S Center St Unit 620-305 Royal Oak, MI	1.0	1.0	550	$1,350	$2.45	24d	1	0.42mi
25090 Woodward Ave Royal Oak, MI	1.0–3.0	1.0–2.5	1146	$3,348	$2.92	1d	13	0.45mi
855 S Main St Royal Oak, MI	1.0	1.0	1003	$2,508	$2.50	1d	1	0.45mi
432 S Washington Ave #1506 Royal Oak, MI	1.0	1.5	1004	$3,400	$3.39	21d	1	0.46mi
100 W 5th St Royal Oak, MI	2.0	2.0	1119	$3,200	$2.86	24d	2	0.54mi
325 E 6th St Unit 325-05 Royal Oak, MI	1.0	1.0	1000	$1,795	$1.79	21d	1	0.67mi
325 E 6th St Unit 325-08 Royal Oak, MI	1.0	1.0	1000	$1,725	$1.73	18d	1	0.67mi
409 E 6th St Unit 2 Royal Oak, MI	1.0	1.0	850	$1,355	$1.59	24d	1	0.69mi
201 N Lafayette Ave Royal Oak, MI	1.0–2.0	1.0	755	$1,587	$2.10	1d	6	0.70mi
118 N Main St Royal Oak, MI	3.0	1.0–3.0	1432	$4,848	$3.38	1d	4	0.77mi
314 Oakland Ave Royal Oak, MI	1.0	1.0	700	$1,750	$2.50	24d	1	0.78mi
1125 N Sherman Dr Apt 36 Royal Oak, MI	1.0	1.0	800	$1,150	$1.44	14d	1	0.78mi
350 N Main St #806 Royal Oak, MI	2.0	2.0	1100	$2,400	$2.18	24d	1	0.82mi
333 E 11 Mile Rd Royal Oak, MI	1.0	1.0	650	$1,250	$1.92	24d	1	0.87mi
480 N Main St Royal Oak, MI	1.0–2.0	1.0–2.0	1045	$4,645	$4.44	1d	7	0.90mi
739 S Alexander Ave Unit Top Level Royal Oak, MI	1.0	1.0	900	$1,200	$1.33	18d	1	0.94mi
609 E Eleven Mile Rd Royal Oak, MI	1.0–2.0	1.0	925	$1,375	$1.49	24d	1	0.97mi
418 Austin Ave Royal Oak, MI	3.0	1.0	946	$2,200	$2.33	4d	1	1.02mi
916 Cherokee Ave Royal Oak, MI	2.0	1.5	944	$2,250	$2.38	2d	1	1.07mi
818 Etowah Ave Unit 1032341P Royal Oak, MI	2.0	1.0	893	$6,755	$7.56	13d	1	1.13mi
1607 Catalpa Dr Unit 1607 Catalpa Royal Oak, MI	2.0	1.0	950	$2,100	$2.21	24d	1	1.19mi
150 E Woodland St Unit 1 Ferndale, MI	1.0	1.0	700	$1,600	$2.29	43d	1	1.30mi
150 E Woodland St Unit 2 Ferndale, MI	1.0	1.0	700	$1,500	$2.14	43d	1	1.30mi
23511 Majestic St Oak Park, MI	3.0	1.0	1100	$1,750	$1.59	24d	1	1.31mi
1260 W Nine Mile Rd Unit 13 Ferndale, MI	2.0	1.0	1000	$1,399	$1.40	14d	1	1.42mi
1491 W Nine Mile Rd Unit 9 Ferndale, MI	2.0	1.0	900	$1,350	$1.50	43d	1	1.46mi

HOA detail condo

• Monthly dues: $426 · $5,112/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 37 events

1. 2026-06-18
   days on market $175,000 Active 126 DOM
2. 2026-06-17
   days on market $175,000 Active 125 DOM
3. 2026-06-16
   days on market $175,000 Active 124 DOM
4. 2026-06-15
   days on market $175,000 Active 123 DOM
5. 2026-06-13
   days on market $175,000 Active 121 DOM
6. 2026-06-13
   days on market $175,000 Active 120 DOM
7. 2026-06-09
   days on market $175,000 Active 117 DOM
8. 2026-06-08
   days on market $175,000 Active 116 DOM
9. 2026-06-07
   days on market $175,000 Active 115 DOM
10. 2026-06-04
    days on market $175,000 Active 112 DOM
11. 2026-06-03
    days on market $175,000 Active 111 DOM
12. 2026-06-02
    days on market $175,000 Active 110 DOM
13. 2026-06-01
    days on market $175,000 Active 109 DOM
14. 2026-05-31
    days on market $175,000 Active 108 DOM
15. 2026-04-25
    price $177,500 370-char remark

    Show marketing remark (370 chars)

    Location Location Location Location! Charming 2 bedroom condo features original hardwood floors. Efficient layout with spacious living room. Bathroom with ceramic tile. Primary bedroom with walk in closet. Furnace and A/C replaced 2025. Common basement with laundry room and designated storage area. Walking distance to Detroit Zoo, Downtown Royal Oak, Huntington Woods.

16. 2026-04-24
    price $177,500 373-char remark

    Show marketing remark (373 chars)

    Location Location Location Location! Charming 2 bedroom condo features original hardwood floors. Efficient layout with spacious living room. Bathroom with ceramic tile. Primary bedroom with walk in closet. Furnace and A/C replaced 2025. Common basement with laundry room and designated storage area. Walking distance to Detroit Zoo, Downtown Royal Oak, Huntington Woods.

17. 2026-04-07
    price $1,400

    Show marketing remark (370 chars)

    Location Location Location Location! Charming 2 bedroom condo features original hardwood floors. Efficient layout with spacious living room. Bathroom with ceramic tile. Primary bedroom with walk in closet. Furnace and A/C replaced 2025. Common basement with laundry room and designated storage area. Walking distance to Detroit Zoo, Downtown Royal Oak, Huntington Woods.

18. 2026-04-07
    price $179,000 370-char remark

    Show marketing remark (370 chars)

    Location Location Location Location! Charming 2 bedroom condo features original hardwood floors. Efficient layout with spacious living room. Bathroom with ceramic tile. Primary bedroom with walk in closet. Furnace and A/C replaced 2025. Common basement with laundry room and designated storage area. Walking distance to Detroit Zoo, Downtown Royal Oak, Huntington Woods.

19. 2026-04-06
    price $179,000 373-char remark

    Show marketing remark (373 chars)

    Location Location Location Location! Charming 2 bedroom condo features original hardwood floors. Efficient layout with spacious living room. Bathroom with ceramic tile. Primary bedroom with walk in closet. Furnace and A/C replaced 2025. Common basement with laundry room and designated storage area. Walking distance to Detroit Zoo, Downtown Royal Oak, Huntington Woods.

20. 2026-03-29
    listed $1,500
21. 2026-03-28
    historical $1,500
22. 2026-03-27
    listed $1,500
23. 2026-03-16
    price $180,000 370-char remark

    Show marketing remark (373 chars)

    Location Location Location Location! Charming 2 bedroom condo features original hardwood floors. Efficient layout with spacious living room. Bathroom with ceramic tile. Primary bedroom with walk in closet. Furnace and A/C replaced 2025. Common basement with laundry room and designated storage area. Walking distance to Detroit Zoo, Downtown Royal Oak, Huntington Woods.

24. 2026-03-16
    price $180,000 373-char remark

    Show marketing remark (373 chars)

    Location Location Location Location! Charming 2 bedroom condo features original hardwood floors. Efficient layout with spacious living room. Bathroom with ceramic tile. Primary bedroom with walk in closet. Furnace and A/C replaced 2025. Common basement with laundry room and designated storage area. Walking distance to Detroit Zoo, Downtown Royal Oak, Huntington Woods.

25. 2026-03-05
    price $184,000 370-char remark

    Show marketing remark (370 chars)

    Location Location Location Location! Charming 2 bedroom condo features original hardwood floors. Efficient layout with spacious living room. Bathroom with ceramic tile. Primary bedroom with walk in closet. Furnace and A/C replaced 2025. Common basement with laundry room and designated storage area. Walking distance to Detroit Zoo, Downtown Royal Oak, Huntington Woods.

26. 2026-03-04
    price $184,000 373-char remark

    Show marketing remark (373 chars)

    Location Location Location Location! Charming 2 bedroom condo features original hardwood floors. Efficient layout with spacious living room. Bathroom with ceramic tile. Primary bedroom with walk in closet. Furnace and A/C replaced 2025. Common basement with laundry room and designated storage area. Walking distance to Detroit Zoo, Downtown Royal Oak, Huntington Woods.

27. 2026-02-12
    listed $189,000 Active 370-char remark

    Show marketing remark (373 chars)

    Location Location Location Location! Charming 2 bedroom condo features original hardwood floors. Efficient layout with spacious living room. Bathroom with ceramic tile. Primary bedroom with walk in closet. Furnace and A/C replaced 2025. Common basement with laundry room and designated storage area. Walking distance to Detroit Zoo, Downtown Royal Oak, Huntington Woods.

28. 2026-02-12
    listed $189,000 Active 373-char remark

    Show marketing remark (373 chars)

    Location Location Location Location! Charming 2 bedroom condo features original hardwood floors. Efficient layout with spacious living room. Bathroom with ceramic tile. Primary bedroom with walk in closet. Furnace and A/C replaced 2025. Common basement with laundry room and designated storage area. Walking distance to Detroit Zoo, Downtown Royal Oak, Huntington Woods.

29. 2019-08-12
    soldstatus $127,000
30. 2019-08-01
    soldstatus $127,000 Sold
31. 2019-08-01
    soldstatus $127,000 Closed
32. 2019-06-24
    status Pending
33. 2019-06-24
    status Pending
34. 2019-05-20
    listed $132,000 Active
35. 2019-05-20
    listed $132,000 Active
36. 2005-04-28
    soldstatus $120,000
37. 2005-01-11
    listed $128,000

ⓘ 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: $2,187 · $182/mo
• Projected year-2 tax: $2,441 · $203/mo
• Expected delta: +$254/yr (+$21/mo · 11.6%)

ⓘ 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 ≥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: $25,207
• − Mortgage interest: −$9,803
• − Property taxes: −$2,187
• − Insurance: −$875
• − Repairs & maintenance: −$2,017
• − Management: −$2,017
• − HOA: −$5,112
• − Depreciation: −$5,091
• Taxable loss: −$1,894
• Est. tax savings @ 24.0%: +$454
• After-tax cash flow: $1,181/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: Berkley School District
• NCES district ID: 2605010
• Math proficiency: 47% ▼ -10.00%
• Reading proficiency: 62% ▼ -3.00%
• Median HH income: $72,519
• Composite: 48.61/100
• National rank: #2109
• State rank: #64 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

+38.7% since first listed

23 events — show timeline

• 2026-04-25 Price Changed $177,500 MiRealSource-MiMLS
• 2026-04-24 Price Changed $177,500 REALCOMP
• 2026-04-07 Price Changed $1,400 REALCOMP
• 2026-04-07 Price Changed $179,000 MiRealSource-MiMLS
• 2026-04-06 Price Changed $179,000 REALCOMP
• 2026-03-29 Listed for Rent $1,500 REALCOMP
• 2026-03-28 Rental Removed $1,500 REALSOURCE
• 2026-03-27 Listed for Rent $1,500 REALSOURCE
• 2026-03-16 Price Changed $180,000 MiRealSource-MiMLS
• 2026-03-16 Price Changed $180,000 REALCOMP
• 2026-03-05 Price Changed $184,000 MiRealSource-MiMLS
• 2026-03-04 Price Changed $184,000 REALCOMP
• 2026-02-12 Listed $189,000 REALCOMP
• 2026-02-12 Listed $189,000 MiRealSource-MiMLS
• 2019-08-12 Sold (Public Records) $127,000 Public Records
• 2019-08-01 Sold (MLS) $127,000 MiRealSource-MiMLS
• 2019-08-01 Sold (MLS) $127,000 REALCOMP
• 2019-06-24 Pending — MiRealSource-MiMLS
• 2019-06-24 Pending — REALCOMP
• 2019-05-20 Listed $132,000 MiRealSource-MiMLS
• 2019-05-20 Listed $132,000 REALCOMP
• 2005-04-28 Sold (MLS) $120,000 REALCOMP
• 2005-01-11 Listed $128,000 REALCOMP

Property tax history

+4.5%/yr

Latest (2025): $2,187 · -19.6% YoY. Source: county tax records.