NOT LISTED FOR SALE

1501 W Farnum Ave Royal Oak, MI 48067

Estimated Value: $517,000 - $549,591

4 Beds
4 Baths
2,378 Sq Ft
$225/Sq Ft Est. Value

Last Sold November 21, 2018

Last sale price $352,000 $148 Per Sq Ft

Est. 52% increase in value since last sale

Current estimated payment $3,588/month

4 Days on Market

Highlights

  • Covered patio or porch
  • Forced Air Heating and Cooling System
  • Ceiling Fan
  • Northwood Elementary School Rated A-
  • Humidifier
  • 2-minute walk to Fernwood Park

About This Home

As of November 2018

2 Unit Townhouse duplex. Great Investment property. Rents are low and could increase upon lease renewals. Updated with Granite Countertops throughout. Very low maintenance GREAT LOCATION for Rentals. Within Walking distance to downtown Royal Oak and Woodward Ave. Both Units currently rented. Buyer to verify all information. Restricted Showing Schedule. 24-hour MINIMUM NOTICE for showings. Will be able to get you into one unit for showing. Access to both units after accepted offer. Units are a mirror image of each other.

Last Agent to Sell the Property

Richard Harrison

Berkshire Hathaway HomeServices Kee Realty Bham License #6502413059 Listed on: 10/15/2018

Berkshire Hathaway HomeServices Kee Realty Bham

Last Buyer's Agent

Fjori Narazani

Lenox Realty & Management License #6501411193

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

Year Built

  • Built in 1970 | Remodeled in 2011

Lot Details

  • 6,534 Sq Ft Lot

Home Design

  • Duplex
  • Brick Exterior Construction
  • Poured Concrete
  • Asphalt Roof

Interior Spaces

  • 2,378 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Unfinished Basement

Parking

  • Paved Parking
  • On-Street Parking
  • Assigned Parking

Outdoor Features

  • Covered patio or porch
  • Exterior Lighting

Utilities

  • Forced Air Heating and Cooling System
  • Humidifier
  • Heating System Uses Natural Gas
  • Separate Water Meter
  • Natural Gas Water Heater
  • High Speed Internet
  • Cable TV Available

Listing and Financial Details

  • Assessor Parcel Number 2516311010

Community Details

Overview

  • 2 Units
  • Maple Grove Sub Subdivision

Amenities

  • Laundry Facilities

Pet Policy

  • Pets Allowed

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,300

Year Built

Built in 1970 | Remodeled in 2011

Lot Details

0

Listing Details

  • Property Type: Multifamily
  • Architecture Style: Duplex
  • Architecture Level: 2 Story
  • Year Built: 1970
  • Year Renovated: 2011
  • Pets Allowed: Yes
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Interior Amenities: Cable Available, High Spd Internet Avail, Humidifier, Laundry Facility
  • Total Bathrooms: 2.20
  • Full Bathrooms: 2
  • Half Bathrooms: 2
  • Basement: Yes
  • Basement Type: Unfinished
  • Sq Ft Combined: 2378
  • Total Sq Ft: 2378
  • Sq Ft Total Bsmt: 1188

Exterior Features

  • Roof Material: Asphalt
  • Foundation Details: Basement
  • Construction Materials: Aluminum, Brick
  • Exterior Features: Lighting
  • Foundation Materials: Poured
  • Frontage Feet: 49
  • Porch Type: Porch, Porch - Covered
  • Road Frontage Type: Paved, Pub. Sidewalk

Garage/Parking

  • MF Parking: Assigned Spaces, On Street, Paved

Utilities

  • Heating Fuel: Natural Gas
  • Cooling: Ceiling Fan(s), Central Air
  • Heating: Forced Air
  • Sewer: Public Sewer (Sewer-Sanitary)
  • Water Heater Fuel: Natural Gas, Separate Meters
  • Water Source: Public (Municipal)
  • Laundry Facilities: No

Schools

  • School District: Royal Oak

Lot Info

  • List Price per Acre: 2466000.0000
  • Lot Size Area: 0.15
  • Lot Dimensions: Irregular
  • Parcel Number: 2516311010
  • Zone Conform: Yes
  • Zoning: Multi-Family

Rental Info

  • Rent Includes: Trash Collection (Garbage Pickup), Int Maint W/Deduct, Water/Sewer, Yard Maintenance
  • Legal Rental Certified: Yes
  • Monthly Rental Income: 1950

Tax Info

  • Tax Amount Summer: 4546.0000
  • Tax Amount Winter: 754.0000
  • Total Tax: 5300.0000

Multi Family

  • Gross Scheduled Income: 23400.00
  • Number Of Units Total: 2
  • Unit Count: 2
  • Number of Two Bedroom Units: 2
  • Number Of Units Leased: 2

MLS Schools

  • School District: Royal Oak

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 15, 2018
Closed on
Nov 20, 2018
Sold by
West Famum Llc
Bought by
Gonzalez Mario
Seller's Agent
Richard Harrison
Berkshire Hathaway HomeServices Kee Realty Bham
Buyer's Agent
Fjori Narazani
Lenox Realty & Management
List Price
$369,900
Sold Price
$352,000
Premium/Discount to List
-$17,900
-4.84%
Current Estimated Value
$535,898

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$183,898
Avg. Annual Appreciation
5.69%
Original Mortgage
$299,200
Interest Rate
4.8%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 30, 2013
Sold by
Robertson Robertson W and Robertson Melissa D
Bought by
West Farnum Llc

Purchase Details

Closed on
Mar 27, 2006
Sold by
Robertson Robertson W and Robertson Melissa D
Bought by
Robertson W Hugh and Robertson Melissa D

Purchase Details

Closed on
Mar 1, 1996
Sold by
Sulliva Michael Lawrence
Bought by
Sullivan Michael L
Source: Public Records

Range of Values:

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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Gonzalez Mario $352,000 Premier Title Agency Llc
West Farnum Llc -- None Available
Robertson W Hugh -- None Available
Sullivan Michael L -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Gonzalez Mario $40,550
Open Gonzalez Mario $96,399
Closed Gonzalez Mario $60,800
Open Gonzalez Mario $298,500
Previous Owner Gonzalez Mario $299,200
Previous Owner Robertson W Hugh $100,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
11/21/2018 11/21/18 Sold $352,000 -4.8% $148 / Sq Ft
10/19/2018 10/19/18 Pending -- -- --
10/15/2018 10/15/18 For Sale $369,900 -- $156 / Sq Ft
Source: Realcomp

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $7,532 $196,510 $0 $0
2022 $6,922 $184,720 $0 $0
2020 $7,265 $173,610 $0 $0
2018 $6,922 $135,060 $0 $0
2017 $5,254 $135,060 $0 $0
2015 -- $125,330 $0 $0
2014 -- $108,410 $0 $0
2011 -- $118,910 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • R

    Seller's Agent in 2018

    Richard Harrison

    Berkshire Hathaway HomeServices Kee Realty Bham

    Section Image

  • F

    Buyer's Agent in 2018

    Fjori Narazani

    Lenox Realty & Management

    Section Image
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Map

Source: Realcomp

MLS Number: 218100872

Realcomp

APN: 25-16-311-010

Michigan Oakland County Royal Oak 48067

1501 W Farnum Ave, Royal Oak, MI

This home is located at 1501 W Farnum Ave, Royal Oak, MI 48067 since 15 October 2018 and is currently estimated at $535,898, approximately $225 per square foot. This property was built in 1970. 1501 W Farnum Ave is a home located in Oakland County with nearby schools including Northwood Elementary School, Royal Oak Middle School, and Royal Oak High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Realcomp IDX provided courtesy of Realcomp II Ltd. via Ten-X and MLS
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IDX information is provided exclusively for consumers' personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.
Listing Information presented by local MLS brokerage: Ten-X, local REALTOR®- Arlene Richardson - (888)-952-6393

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