4905 Coventry St · Royal Oak, MI 48073

$269,000

3 bd · 2.5 ba · 2,220 sqft · Condo public records · 8 Days on market

Built 1971 $494/mo HOA · 18% of rent

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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 +12.2/30.0
• ARV discount +7.5/15.0
• 1% rule +4.9/10.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• DSCR +3.6/10.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this exceptional North Royal Oak condo - where style, comfort, and convenience come together. From the moment you step inside, rich hardwood floors and an abundance of natural light set the tone for this beautifully designed home. A versatile library/study just off the foyer makes the perfect home office or reading retreat, while the open living and dining areas flow seamlessly to a private terrace - your own outdoor oasis for morning coffee or evening entertaining. The brand-new kitchen is a showstopper, featuring quartz countertops, sleek cabinetry, and all-new stainless steel appliances - all included. Upstairs, the generous primary suite offers a private en-suite bath, joined by two additional bedrooms and a second full bath. Need more space? The partially finished basement delivers flexible living and ample storage. Recent updates include a new water heater, refrigerator, stove, dishwasher, and microwave - so you can move right in and start living. And with HOA dues covering water, gas, trash, snow removal, lawn care, plus access to the community pool and clubhouse, low-maintenance living has never looked this good. Homes like this don't last - schedule your private showing today.

Key facts

• Quartz countertops
• Private terrace
• Brand new kitchen

Tags

• HARDWOOD FLOORS
• NATURAL LIGHT
• LIBRARY STUDY
• PRIVATE TERRACE
• BRAND NEW KITCHEN
• QUARTZ COUNTERTOPS

Property features AI

Finance

• Other: Pets allowed: cats and dogs
• HOA & community: Homeowners association with monthly fee of $494; HOA covers gas, grounds maintenance, structure maintenance, sewer, snow removal, trash and water

Exterior

• Parking: No garage; Assigned parking
• Utilities: Public water; Public sewer
• Home design: Condominium (residential); Two levels; Ground-level entry with steps; Brick construction; Asphalt roof
• Construction: Brick construction; Asphalt roof; Unfinished basement
• Exterior features: Patio; Outdoor pool; Paved road access

Interior

• Kitchen: Dishwasher; Disposal; Microwave; Free‑standing refrigerator; Gas water heater
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Unfurnished; Unfinished basement; Seven total rooms
• Laundry & utility: Washer hookup; Dryer hookup (gas)

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath condo listed at $269k.

Deal economics

• At list price, monthly cash flow is $-55 ($-654/yr) — negative.
• To cash-flow at today's rent, offer at most $259k (3.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $267k (0.6% below list).
• Recommended offer: $259k (3.6% below list) — sets the bar for cash-flow.
• Cap rate 6.0% 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: Alfred E Upton Elementary School (math 22% / reading 37%, grade F, #866 of 1,397 statewide, top 65%, 303 students, 36% 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 (+2.4%/yr); 259 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals leasing fast (median 5d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 2,614 units permitted in Oakland County in 2024 (721 in 5+ unit buildings).
• This rent runs 35% of the median local income ($92k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 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 $177k; list at $269k implies a 52% gain — meaningful room to come down on a strong offer.

Recommended offer $259,370 (3.6% 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 1971 — 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: 0.99% ✗
• Cap rate: 6.05%
• Cash-on-cash: -0.87%
• DSCR: 0.96
• GRM: 8.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: -18.5%
• Equity multiple: 0.36×
• Total profit: $-48,543
• Equity at exit: $40,109

10-year hold

• IRR: -12.2%
• Equity multiple: 0.30×
• Total profit: $-52,738
• Equity at exit: $23,258

Cash invested: $75,320 (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: 259
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $2,673 high
• Mortgage (P&I): −$1,411
• Tax from tax record: −$149 /mo · $1,793/yr
• Insurance: −$112
• HOA: −$494
• Vacancy / Maint / Mgmt: −$561
• Net cashflow: $-55

Break-even live

Break-even rent $2,742

Max offer price $259,370

Occupancy floor 97%

Sensitivity live

Price	-10% $98	-5% $22	+0% $-55	+5% $-131	+10% $-207
Rent	-10% $-266	-5% $-160	+0% $-55	+5% $51	+10% $157
Rate	-1.0pp $81	-0.5pp $14	base $-55	+0.5pp $-124	+1.0pp $-195

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: $67,250
• Closing costs: $8,070
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1976 Ridge Ct Royal Oak, MI	2.0	1.5	1929	$2,500	$1.30	3d	1	0.07mi
4014 Durham Rd Royal Oak, MI	3.0	1.0	1827	$2,400	$1.31	4d	1	0.94mi
3054 Camden Dr Unit 3054 Troy, MI	2.0	2.5	1400	$2,300	$1.64	26d	1	1.16mi
516 N Main St Clawson, MI	2.0	2.0	1515	$2,986	$1.97	0d	1	1.17mi
3257 Newbury Pl Unit 20 Troy, MI	2.0	3.0	1480	$2,450	$1.66	0d	1	1.22mi
3202 Camden Dr Troy, MI	2.0	2.5	1959	$2,300	$1.17	4d	1	1.24mi
2711 Dorchester Rd Birmingham, MI	4.0	3.0	2081	$3,395	$1.63	18d	1	1.27mi
3286 Camden Dr Troy, MI	2.0	2.5	1550	$2,450	$1.58	25d	1	1.28mi
1911 Golfview Dr Troy, MI	1.0–3.0	1.0–2.0	1300	$2,487	$1.91	0d	18	1.30mi
2751 Melcombe Cir Troy, MI	1.0–3.0	1.0–2.5	1687	$3,592	$2.13	0d	31	1.41mi
401 S Eton St Birmingham, MI	2.0–4.0	2.5	2277	$7,200	$3.16	6d	2	1.43mi
2690 Crooks Rd Troy, MI	1.0–2.0	1.0–2.0	1259	$2,635	$2.09	0d	1	1.45mi
1641 Fairview Ave Royal Oak, MI	2.0	1.0	1650	$1,640	$0.99	26d	1	1.46mi
3121 Ferncliff Ave Royal Oak, MI	3.0	2.0	1700	$3,500	$2.06	0d	1	1.46mi
2453 Windemere Rd Birmingham, MI	3.0	2.5	1486	$3,200	$2.15	0d	1	1.47mi
2194 Dorchester Rd Birmingham, MI	3.0	2.0	1909	$3,500	$1.83	26d	1	1.48mi
4307 Cooper Ave Royal Oak, MI	3.0	2.0	1679	$2,550	$1.52	19d	1	1.48mi

HOA detail condo

• Monthly dues: $494 · $5,928/yr
• Likely covers: watertrashgaslandscapingsnow removalpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 7 events

1. 2026-06-21
   statusdays on market $269,000 Pending 8 DOM
2. 2026-06-18
   days on market $269,000 Active 7 DOM
3. 2026-06-17
   days on market $269,000 Active 6 DOM
4. 2026-06-16
   days on market $269,000 Active 5 DOM
5. 2026-06-15
   days on market $269,000 Active 4 DOM
6. 2026-06-13
   remarks 681-char remark
7. 2026-06-13
   listed $269,000 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: $1,793 · $149/mo
• Projected year-2 tax: $2,968 · $247/mo
• Expected delta: +$1,175/yr (+$98/mo · 65.5%)

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

Taxation est. · year 1

• Rental income: $32,075
• − Mortgage interest: −$15,068
• − Property taxes: −$1,793
• − Insurance: −$1,345
• − Repairs & maintenance: −$2,566
• − Management: −$2,566
• − HOA: −$5,928
• − Depreciation: −$7,825
• Taxable loss: −$5,016
• Est. tax savings @ 24.0%: +$1,204
• After-tax cash flow: $550/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): 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

+686.3% since first listed

12 events — show timeline

• 2026-06-11 Listed $269,000 REALCOMP
• 2026-06-11 Listed $269,000 MiRealSource-MiMLS
• 2026-05-04 Sold (Public Records) $177,000 Public Records
• 2026-04-23 Sold (MLS) $177,000 REALCOMP
• 2026-04-23 Sold (MLS) $177,000 MiRealSource-MiMLS
• 2026-02-23 Pending — MiRealSource-MiMLS
• 2026-02-23 Pending — REALCOMP
• 2026-02-17 Listed $172,000 REALCOMP
• 2026-02-16 Listed $172,000 MiRealSource-MiMLS
• 1996-07-03 Sold (Public Records) $112,000 Public Records
• 1974-08-01 Sold (Public Records) $42,500 Public Records
• 1971-12-01 Sold (Public Records) $34,210 Public Records

Property tax history

+2.0%/yr

Latest (2025): $1,793 · +2.4% YoY. Source: county tax records.