834 W Houstonia Ave · Royal Oak, MI 48073

$229,900

3 bd · 1.0 ba · 918 sqft · SingleFamily public records · 23 Days on market

Built 1923 7,405 sqft lot $250/sqft · 19% below area Est $285k · 19% under ↓ 18% since listing

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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).

• ARV discount +15.0/15.0
• Cash flow +8.4/30.0
• Schools +4.4/10.0
• Livability +4.2/5.0
• Rent growth +3.1/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

MAKE THIS YOUR STARTER HOME, OR BRING YOUR PLANS TO BUILD YOUR DREAM HOME, EXTRA LARGE (50 X150) LOT, GREAT LOCATION, TWO BEDROOMS BUNGALOW, TWO FULL BATHS, 2+ CAR GARAGE, NICE RESIDENTIONAL AREA, CLOSE TO DOWNTOWN SHOPPING AND RESUARUNTS.

Key facts

• Great location
• Extra large lot
• Close to downtown

Tags

• EXTRA LARGE LOT
• GREAT LOCATION
• CLOSE TO DOWNTOWN

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one half stories; Ground-level entry with steps
• Construction: Aluminum and vinyl siding; Block foundation
• Exterior features: Paved road access; Asphalt roof; Lot approximately 50 x 150 (0.17 acres); No pool

Interior

• Kitchen: Free-standing gas range; Free-standing refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Dishwasher; Disposal; Microwave; Range hood; Unfinished basement
• Laundry & utility: Washer; Dryer

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $-207 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $193k (15.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $175k (23.7% below list).
• Recommended offer: $175k (23.7% below list) — sets the bar for 1% rule.
• Cap rate 5.2% 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: Northwood Elementary School (math 68% / reading 71%, grade A-, #74 of 1,397 statewide, top 7%, 449 students, 12% 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) — zoned schools at 22% FRL track the district average.
• Market conditions: Rents rising (+2.4%/yr); 259 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $2k of loan paydown is wiped out by about $7k 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 23 days — a 2% lower offer ($226k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts; this cycle's ask has dropped $30k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $175,399 (23.7% 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 1923 — 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. 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?
6. 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.
7. 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.
8. 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: 0.76% ✗
• Cap rate: 5.21%
• Cash-on-cash: -3.86%
• DSCR: 0.83
• GRM: 10.9

CMA / ARV

• ARV (median comp): $285,156
• List price: $229,900
• Delta: -9.17%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
404 LA Plaza Ct	0.30mi	2/1.0 (-1)	918 (0%)	14mo	$232,500	$253	69
912 Cedarhill Dr	0.26mi	2/2.0 (-1)	976 (+6%)	5mo	$350,000	$359	64
922 Cedarhill	0.26mi	2/1.0 (-1)	1,048 (+14%)	2mo	$316,000	$302	58
316 W 12 Mile Rd	0.38mi	3/1.0	960 (+5%)	21mo	$260,000	$271	57
1634 Crooks Rd	0.39mi	3/2.0	1,038 (+13%)	4mo	$275,000	$265	52
1829 N Washington Ave	0.38mi	3/2.5	1,001 (+9%)	12mo	$265,000	$265	51
911 Mayfield Dr	0.57mi	2/1.5 (-1)	888 (-3%)	14mo	$300,000	$338	49
218 E 12 Mile Rd	0.66mi	2/1.0 (-1)	804 (-12%)	9mo	$230,000	$286	36
1306 Edgewood Dr	0.52mi	2/1.0 (-1)	1,040 (+13%)	18mo	$331,000	$318	33
1312 Catalpa Dr	0.72mi	3/1.5	1,050 (+14%)	11mo	$332,000	$316	31

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: -23.5%
• Equity multiple: 0.20×
• Total profit: $-51,544
• Equity at exit: $34,279

10-year hold

• IRR: -20.1%
• Equity multiple: -0.03×
• Total profit: $-66,306
• Equity at exit: $19,878

Cash invested: $64,372 (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: 10.9×

Monthly cashflow live

• Estimated rent: $1,754 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$291 /mo · $3,497/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$368
• Net cashflow: $-207

Break-even live

Break-even rent $2,016

Max offer price $193,297

Occupancy floor —

Sensitivity live

Price	-10% $-77	-5% $-142	+0% $-207	+5% $-272	+10% $-337
Rent	-10% $-346	-5% $-276	+0% $-207	+5% $-138	+10% $-69
Rate	-1.0pp $-91	-0.5pp $-149	base $-207	+0.5pp $-267	+1.0pp $-327

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1923 Crooks Rd Unit 1923-18 Royal Oak, MI	2.0	1.0	1000	$1,350	$1.35	26d	1	0.14mi
308 W Twelve Mile Rd Unit 4/D Royal Oak, MI	3.0	1.0	1000	$2,200	$2.20	21d	1	0.41mi
122 W Houstonia Ave Royal Oak, MI	2.0	1.0	800	$1,350	$1.69	26d	1	0.46mi
122 W Houstonia Ave Unit B Royal Oak, MI	2.0	1.0	800	$1,350	$1.69	22d	1	0.46mi
1814 N Center St Royal Oak, MI	3.0	1.5	1072	$1,790	$1.67	5d	1	0.50mi
1880 Rochester Rd Royal Oak, MI	1.0–2.0	1.0	900	$1,550	$1.72	23d	1	0.67mi
1607 Catalpa Dr Unit 1607 Catalpa Royal Oak, MI	2.0	1.0	950	$2,100	$2.21	26d	1	0.80mi
3115 Evergreen Dr Royal Oak, MI	1.0–2.0	1.0	887	$1,630	$1.84	7d	8	0.82mi
418 Austin Ave Royal Oak, MI	3.0	1.0	946	$2,200	$2.33	5d	1	0.85mi
429 Linden Ave Royal Oak, MI	3.0	1.0	909	$1,995	$2.19	26d	1	0.96mi
222 E Thirteen Mile Rd Unit 2 Royal Oak, MI	2.0	1.0	900	$1,900	$2.11	26d	1	1.03mi
480 N Main St Royal Oak, MI	1.0–2.0	1.0–2.0	1045	$4,645	$4.44	0d	6	1.14mi
201 N Lafayette Ave Royal Oak, MI	1.0–2.0	1.0	755	$1,587	$2.10	1d	5	1.17mi
3807 Crooks Rd Royal Oak, MI	2.0	1.0	549	$1,315	$2.40	1d	7	1.19mi
3406 Elmhurst Ave Royal Oak, MI	2.0	1.0	950	$1,800	$1.89	26d	1	1.19mi
232 Woodlawn Ave Royal Oak, MI	4.0	2.0	1000	$4,500	$4.50	0d	1	1.20mi
350 N Main St #806 Royal Oak, MI	2.0	2.0	1100	$2,400	$2.18	26d	1	1.24mi
3225 Benjamin Ave #2 Royal Oak, MI	2.0	1.0	800	$1,525	$1.91	7d	1	1.25mi
3220 Shenandoah Dr #12 Royal Oak, MI	2.0	1.0	688	$1,250	$1.82	26d	1	1.27mi
118 N Main St Royal Oak, MI	3.0	1.0–3.0	1432	$6,200	$4.33	0d	4	1.29mi
1007 Gardenia Ave Unit 1009 Royal Oak, MI	2.0	1.0	1000	$1,400	$1.40	26d	1	1.30mi
4031 Crooks Rd Unit 4061-212 Royal Oak, MI	2.0	1.0	1066	$1,795	$1.68	7d	1	1.32mi
3011 Ferris Ave Royal Oak, MI	3.0	2.0	1018	$2,400	$2.36	0d	1	1.34mi
155 Amelia St Royal Oak, MI	1.0–4.0	1.0–2.5	971	$1,770	$1.82	5d	7	1.42mi
2817 W 13 Mile Rd Royal Oak, MI	2.0	1.0	688	$1,250	$1.82	26d	1	1.43mi
609 E Eleven Mile Rd Royal Oak, MI	1.0–2.0	1.0	925	$1,375	$1.49	26d	1	1.46mi

Listing history 22 events

1. 2026-06-21
   days on market $229,900 Active 23 DOM
2. 2026-06-18
   days on market $229,900 Active 20 DOM
3. 2026-06-17
   days on market $229,900 Active 19 DOM
4. 2026-06-16
   days on market $229,900 Active 18 DOM
5. 2026-06-15
   pricedays on market $229,900 Active 17 DOM
6. 2026-06-13
   days on market $249,900 Active 15 DOM

   Show marketing remark (239 chars)

   MAKE THIS YOUR STARTER HOME, OR BRING YOUR PLANS TO BUILD YOUR DREAM HOME, EXTRA LARGE (50 X150) LOT, GREAT LOCATION, TWO BEDROOMS BUNGALOW, TWO FULL BATHS, 2+ CAR GARAGE, NICE RESIDENTIONAL AREA, CLOSE TO DOWNTOWN SHOPPING AND RESUARUNTS.

7. 2026-06-09
   days on market $249,900 Active 11 DOM

   Show marketing remark (239 chars)

   MAKE THIS YOUR STARTER HOME, OR BRING YOUR PLANS TO BUILD YOUR DREAM HOME, EXTRA LARGE (50 X150) LOT, GREAT LOCATION, TWO BEDROOMS BUNGALOW, TWO FULL BATHS, 2+ CAR GARAGE, NICE RESIDENTIONAL AREA, CLOSE TO DOWNTOWN SHOPPING AND RESUARUNTS.

8. 2026-06-08
   pricedays on market $249,900 Active 10 DOM
9. 2026-06-07
   days on market $259,900 Active 9 DOM
10. 2026-06-04
    days on market $259,900 Active 6 DOM
11. 2026-06-03
    days on market $259,900 Active 5 DOM
12. 2026-06-02
    days on market $259,900 Active 4 DOM
13. 2026-06-01
    days on market $259,900 Active 3 DOM
14. 2026-05-31
    days on market $259,900 Active 2 DOM
15. 2026-05-18
    price $259,000 763-char remark
16. 2026-05-18
    price $259,000 763-char remark
17. 2026-05-10
    price $269,000 763-char remark
18. 2026-05-10
    price $269,000 763-char remark
19. 2026-04-16
    price $276,000 763-char remark
20. 2026-04-16
    price $276,000 763-char remark
21. 2026-03-05
    listed $279,000 Active 763-char remark
22. 2026-03-05
    listed $279,000 Active 763-char remark

ⓘ 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: $3,497 · $291/mo
• Projected year-2 tax: $3,519 · $293/mo
• Expected delta: +$22/yr (+$2/mo · 0.6%)

ⓘ 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: $21,048
• − Mortgage interest: −$12,878
• − Property taxes: −$3,497
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,684
• − Management: −$1,684
• − Depreciation: −$6,688
• Taxable loss: −$6,533
• Est. tax savings @ 24.0%: +$1,568
• After-tax cash flow: $-919/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

-17.6% since first listed

16 events — show timeline

• 2026-06-14 Price Changed $229,900 REALCOMP
• 2026-06-13 Price Changed $229,900 MiRealSource-MiMLS
• 2026-06-09 Price Changed $249,900 MiRealSource-MiMLS
• 2026-06-08 Price Changed $249,900 REALCOMP
• 2026-05-29 Listed $259,900 MiRealSource-MiMLS
• 2026-05-29 Listed $259,900 REALCOMP
• 2026-05-26 Listing Removed — MiRealSource-MiMLS
• 2026-05-26 Listing Removed — REALCOMP
• 2026-05-18 Price Changed $259,000 MiRealSource-MiMLS
• 2026-05-18 Price Changed $259,000 REALCOMP
• 2026-05-10 Price Changed $269,000 MiRealSource-MiMLS
• 2026-05-10 Price Changed $269,000 REALCOMP
• 2026-04-16 Price Changed $276,000 MiRealSource-MiMLS
• 2026-04-16 Price Changed $276,000 REALCOMP
• 2026-03-05 Listed $279,000 MiRealSource-MiMLS
• 2026-03-05 Listed $279,000 REALCOMP

Property tax history

+4.9%/yr

Latest (2025): $3,497 · +48.1% YoY. Source: county tax records.