2717 Normandy Rd · Royal Oak, MI 48073

$140,000

2 bd · 1.0 ba · 756 sqft · SingleFamily public records · 6 Days on market

Built 1951 4,792 sqft lot Est $216k · 35% under

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Why this score? — see what drove the B- 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 +23.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +6.4/10.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• Rent growth +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * * Highest and best due 5/10 at 6 pm * * * Great opportunity in the heart of Royal Oak! This 2 bed, 1 bath ranch offers solid bones and tons of potential for buyers looking to put in some work and make it their own. The home features a functional layout with a spacious living area, good sized bedrooms, and a full bath ready for updates. Situated on a nice lot in a desirable area close to downtown Royal Oak, shopping, dining, and major roadways. Don’t miss the chance to bring this home back to life, opportunities like this don’t come around often!

Key facts

• 4,792 sq ft lot
• Garage
• Built 1951

Property features AI

Finance

• HOA & community: Homeowners association present

Exterior

• Parking: Detached covered assigned garage (1 garage space)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Slab foundation
• Exterior features: Front porch; Paved road access; Lot dimensions approximately 45 x 112 (0.11 acre)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Ceiling fan cooling
• Interior features: Eat-in kitchen; Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $271 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Cap rate 8.6% 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.
• Market conditions: Rents rising (+2.4%/yr); 251 active listings in the ZIP; 40 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 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 $25k; list at $140k implies a 460% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,000

Questions for the listing agent

1. Built in 1951 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.14% ✓
• Cap rate: 8.61%
• Cash-on-cash: 8.28%
• DSCR: 1.37
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $216,216
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2717 Normandy Rd	0.00mi	2/1.0	756 (0%)	1mo	$143,000	$189	99
3921 Elmhurst Ave	0.33mi	2/1.0	720 (-5%)	21mo	$250,000	$347	59
4112 Linwood Ave	0.40mi	2/1.0	825 (+9%)	13mo	$230,000	$279	55
3821 Edgar Ave	0.27mi	3/1.0 (+1)	854 (+13%)	10mo	$300,000	$351	52
3601 Durham Rd	0.59mi	2/1.0	834 (+10%)	4mo	$250,000	$300	52
3722 Normandy Rd	0.63mi	2/1.0	840 (+11%)	2mo	$210,000	$250	50
4302 Mandalay Ave	0.36mi	3/1.0 (+1)	840 (+11%)	13mo	$214,900	$256	49
3522 Elmhurst Ave	0.47mi	2/2.0	861 (+14%)	2mo	$290,000	$337	49
3324 Normandy Rd	0.39mi	3/1.0 (+1)	859 (+14%)	9mo	$245,900	$286	46
3812 Coolidge Hwy	0.30mi	3/1.0 (+1)	864 (+14%)	19mo	$205,000	$237	41

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 · 2.36% rent growth · sell at horizon

5-year hold

• IRR: -4.4%
• Equity multiple: 0.84×
• Total profit: $-6,434
• Equity at exit: $20,874

10-year hold

• IRR: 4.5%
• Equity multiple: 1.32×
• Total profit: $12,610
• Equity at exit: $12,105

Cash invested: $39,200 (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: 251
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,590 high
• Mortgage (P&I): −$734
• Tax from tax record: −$193 /mo · $2,320/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $271

Break-even live

Break-even rent $1,248

Max offer price $140,000

Occupancy floor 78%

Sensitivity live

Price	-10% $350	-5% $310	+0% $271	+5% $231	+10% $191
Rent	-10% $145	-5% $208	+0% $271	+5% $333	+10% $396
Rate	-1.0pp $341	-0.5pp $306	base $271	+0.5pp $234	+1.0pp $197

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3818 Edgeland Ave Royal Oak, MI	3.0	2.0	1100	$2,400	$2.18	3d	1	0.15mi
4103 Benjamin Ave Royal Oak, MI	2.0	1.0	796	$1,800	$2.26	0d	1	0.19mi
4302 Mandalay Ave Royal Oak, MI	3.0	1.0	900	$2,200	$2.44	25d	1	0.35mi
2131 Normandy Rd Royal Oak, MI	1.0	1.0	600	$1,200	$2.00	13d	1	0.45mi
2817 W 13 Mile Rd Royal Oak, MI	2.0	1.0	688	$1,250	$1.82	25d	1	0.50mi
3009 W 13 Mile Rd Royal Oak, MI	1.0–2.0	1.0	730	$1,599	$2.19	0d	29	0.53mi
3230 Shenandoah Dr #16 Royal Oak, MI	1.0	1.0	560	$1,180	$2.11	5d	1	0.54mi
3406 Elmhurst Ave Royal Oak, MI	2.0	1.0	950	$1,800	$1.89	25d	1	0.55mi
3225 Benjamin Ave #2 Royal Oak, MI	2.0	1.0	800	$1,525	$1.91	5d	1	0.55mi
3220 Shenandoah Dr #12 Royal Oak, MI	2.0	1.0	688	$1,250	$1.82	25d	1	0.56mi
2325 13 Mile Rd Royal Oak, MI	1.0	1.0	650	$1,320	$2.03	5d	2	0.59mi
3830 Devon Rd Unit 3830-04 Royal Oak, MI	1.0	1.0	525	$1,195	$2.28	25d	1	0.65mi
4031 Crooks Rd Unit 4061-212 Royal Oak, MI	2.0	1.0	1066	$1,795	$1.68	5d	1	0.70mi
4031 Crooks Rd Unit 4004 Royal Oak, MI	1.0	1.0	525	$1,095	$2.09	21d	1	0.70mi
4031 Crooks Rd Unit 4006 Royal Oak, MI	1.0	1.0	525	$1,095	$2.09	25d	1	0.70mi
4805 Woodland Ave Royal Oak, MI	2.0	1.0	627	$1,465	$2.33	3d	12	0.70mi
4910 Briarwood Ave Unit A Royal Oak, MI	1.0	1.0	589	$1,200	$2.04	18d	1	0.70mi
3551 W 14 Mile Rd #3 Royal Oak, MI	1.0	1.0	850	$1,599	$1.88	25d	1	0.71mi
3807 Crooks Rd Royal Oak, MI	2.0	1.0	549	$1,315	$2.40	0d	7	0.72mi
2400 Parmenter Blvd Royal Oak, MI	1.0–2.0	1.0–1.5	852	$1,715	$2.01	2d	3	0.73mi
3282 Coolidge Hwy Royal Oak, MI	2.0	1.0	916	$1,650	$1.80	25d	1	0.77mi
3264 Coolidge Hwy Royal Oak, MI	2.0	1.0	916	$1,600	$1.75	5d	1	0.78mi
403 S Crooks Rd Unit 421 Clawson, MI	1.0	1.0	675	$1,195	$1.77	20d	1	0.79mi
403 S Crooks Rd Unit 413 Clawson, MI	1.0	1.0	675	$1,225	$1.81	25d	1	0.79mi
403 S Crooks Rd Unit 409 Clawson, MI	1.0	1.0	675	$1,195	$1.77	25d	1	0.79mi
2440 Parmenter Blvd #211 Royal Oak, MI	2.0	2.0	890	$1,600	$1.80	25d	1	0.79mi
249 S Crooks Rd Clawson, MI	1.0	1.0	650	$1,245	$1.92	5d	1	0.82mi
4526 Cooper Ave Royal Oak, MI	3.0	1.0	1000	$2,500	$2.50	18d	1	0.87mi
4905 Crooks Rd Unit A5 Royal Oak, MI	1.0	1.0	703	$1,250	$1.78	25d	1	0.91mi
3115 Evergreen Dr Royal Oak, MI	1.0–2.0	1.0	887	$1,630	$1.84	5d	8	0.98mi
4000 W 13 Mile Rd Royal Oak, MI	2.0	1.0	780	$1,444	$1.85	2d	3	1.04mi
4030 W 13 Mile Rd Unit J2 Royal Oak, MI	2.0	1.0	724	$1,450	$2.00	20d	1	1.07mi
4030 W 13 Mile Rd Unit J2 Royal Oak, MI	2.0	1.0	724	$1,450	$2.00	18d	1	1.07mi
4030 W 13 Mile Rd Unit J2 Royal Oak, MI	2.0	1.0	724	$1,600	$2.21	25d	1	1.07mi
1707 E 14 Mile Rd Unit B Birmingham, MI	1.0	1.0	581	$1,325	$2.28	25d	1	1.11mi
1709 E 14 Mile Rd Unit A Birmingham, MI	1.0	1.0	581	$1,350	$2.32	25d	1	1.11mi
5121 N Crooks Rd Royal Oak, MI	1.0	1.0	775	$1,245	$1.61	25d	1	1.13mi
4120 W 13 Mile Rd Royal Oak, MI	1.0–2.0	1.0	775	$1,300	$1.68	0d	4	1.20mi
4302 W 13 Mile Rd Royal Oak, MI	1.0	1.0	600	$1,095	$1.82	25d	1	1.26mi
4312-4316 13 Mile and 3415 Fairmont Royal Oak, MI	1.0	1.0	525	$1,100	$2.10	5d	2	1.27mi

Listing history 10 events

1. 2026-05-12
   status Pending

   Show marketing remark (571 chars)

   * * * Highest and best due 5/10 at 6 pm * * * Great opportunity in the heart of Royal Oak! This 2 bed, 1 bath ranch offers solid bones and tons of potential for buyers looking to put in some work and make it their own. The home features a functional layout with a spacious living area, good sized bedrooms, and a full bath ready for updates. Situated on a nice lot in a desirable area close to downtown Royal Oak, shopping, dining, and major roadways. Don’t miss the chance to bring this home back to life, opportunities like this don’t come around often!

2. 2026-05-12
   status Pending 571-char remark

   Show marketing remark (571 chars)

   * * * Highest and best due 5/10 at 6 pm * * * Great opportunity in the heart of Royal Oak! This 2 bed, 1 bath ranch offers solid bones and tons of potential for buyers looking to put in some work and make it their own. The home features a functional layout with a spacious living area, good sized bedrooms, and a full bath ready for updates. Situated on a nice lot in a desirable area close to downtown Royal Oak, shopping, dining, and major roadways. Don’t miss the chance to bring this home back to life, opportunities like this don’t come around often!

3. 2026-05-06
   listed $140,000 Active

   Show marketing remark (571 chars)

   * * * Highest and best due 5/10 at 6 pm * * * Great opportunity in the heart of Royal Oak! This 2 bed, 1 bath ranch offers solid bones and tons of potential for buyers looking to put in some work and make it their own. The home features a functional layout with a spacious living area, good sized bedrooms, and a full bath ready for updates. Situated on a nice lot in a desirable area close to downtown Royal Oak, shopping, dining, and major roadways. Don’t miss the chance to bring this home back to life, opportunities like this don’t come around often!

4. 2026-05-06
   listed $140,000 Active 571-char remark

   Show marketing remark (571 chars)

   * * * Highest and best due 5/10 at 6 pm * * * Great opportunity in the heart of Royal Oak! This 2 bed, 1 bath ranch offers solid bones and tons of potential for buyers looking to put in some work and make it their own. The home features a functional layout with a spacious living area, good sized bedrooms, and a full bath ready for updates. Situated on a nice lot in a desirable area close to downtown Royal Oak, shopping, dining, and major roadways. Don’t miss the chance to bring this home back to life, opportunities like this don’t come around often!

5. 1995-04-28
   soldstatus $25,000
6. 1995-04-28
   soldstatus $58,000
7. 1994-03-14
   soldstatus $25,000
8. 1980-01-01
   soldstatus $25,000
9. 1977-08-01
   soldstatus $19,100
10. 1971-06-01
    soldstatus $17,500

ⓘ 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: $2,320 · $193/mo
• Projected year-2 tax: $2,320 · $193/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 ≥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: $19,085
• − Mortgage interest: −$7,842
• − Property taxes: −$2,320
• − Insurance: −$700
• − Repairs & maintenance: −$1,527
• − Management: −$1,527
• − Depreciation: −$4,073
• Taxable income: $1,097
• Est. tax owed @ 24.0%: −$263
• After-tax cash flow: $2,984/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

+700.0% since first listed

10 events — show timeline

• 2026-05-12 Pending — REALCOMP
• 2026-05-12 Pending — MiRealSource-MiMLS
• 2026-05-06 Listed $140,000 REALCOMP
• 2026-05-06 Listed $140,000 MiRealSource-MiMLS
• 1995-04-28 Sold (Public Records) $58,000 Public Records
• 1995-04-28 Sold (Public Records) $25,000 Public Records
• 1994-03-14 Sold (Public Records) $25,000 Public Records
• 1980-01-01 Sold (Public Records) $25,000 Public Records
• 1977-08-01 Sold (Public Records) $19,100 Public Records
• 1971-06-01 Sold (Public Records) $17,500 Public Records

Property tax history

+2.0%/yr

Latest (2025): $2,320 · +2.7% YoY. Source: county tax records.