NOT LISTED FOR SALE

406 W 12 Mile Rd Royal Oak, MI 48073

Estimated Value: $259,565 - $383,000

3 Beds
2 Baths
1,300 Sq Ft
$245/Sq Ft Est. Value

Last Sold March 31, 2020

Last sale price $215,000 $165 Per Sq Ft

Est. 48% increase in value since last sale

Current estimated payment $2,005/month

About This Home

As of March 2020

Exterior recently painted. Great investment opportunity. Add to your existing real estate investment portfolio or "House Hack" to financial freedom and live in one unit while paying toward your mortgage with the other unit's rental income. Both units fully rented with long term rental histories. Tenants pay all utilities including water. Hardwood floors throughout. Lots of original details. Close to downtown Royal Oak. Off street parking. 24 hour notice required for all showings. BATVAI. Agent owned.

Last Agent to Sell the Property

Jennie Silva

Silva Property Management Company LLC License #MISPE-6502418938 Listed on: 06/01/2019

Last Buyer's Agent

Linda Schwartz

KW Professionals License #6501296427

KW Professionals

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,327

Year Built

  • Built in 1922

Lot Details

  • 5,663 Sq Ft Lot
  • Lot Dimensions are 40x137

Interior Spaces

  • 2-Story Property
  • Basement
  • Block Basement Construction

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 2 Full Bathrooms

Community Details

  • 2 Units
  • H L Koppins Subdivision

Listing and Financial Details

  • Assessor Parcel Number 25-09-481-019

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,327

Year Built

Built in 1922

Lot Details

0

Listing Details

  • Originating MLS: MiRealSource
  • Class: MULTIFAMILY
  • Type Of Property: Multi-Family
  • Structure Style: 2 Story
  • Year Built: 1922
  • Mail City: Royal Oak
  • Special Features: None
  • Property Sub Type: MultiFamily
  • Stories: 2

Interior Features

  • Basement: Yes
  • Basement Type: Block
  • Bedrooms: 3
  • Full Bathrooms: 2
  • Total Bathrooms: 2

Exterior Features

  • Foundation Type: Basement

Utilities

  • Water: Public Water At Street
  • Sewer/Septic System: Public At Street

Lot Info

  • Assessor Parcel Number: 25-09-481-019
  • Lot Dimensions: 40X137
  • Acreage: 0.13
  • Geo Subdivision: MI

Tax Info

  • Summer Tax: Year: 2018, Amount: $1,957.00
  • Winter Tax: Year: 2018, Amount: $370.00

Multi Family

  • Total Units: 2

MLS Schools

  • School District: Royal Oak Neighborhood Schools

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 1, 2019
Closed on
Mar 30, 2020
Sold by
Silva Properties Royal Oak Llc
Bought by
Mannem Srinivasa
Seller's Agent
Jennie Silva
Silva Property Management Company LLC
Buyer's Agent
Linda Schwartz
KW Professionals
List Price
$235,000
Sold Price
$215,000
Premium/Discount to List
-$20,000
-8.51%
Current Estimated Value
$319,141

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$104,141
Avg. Annual Appreciation
7.34%

Purchase Details

Closed on
Feb 24, 2016
Sold by
Silva Jennifer M
Bought by
Silva Properties Royal Oak Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$830,000
Interest Rate
3.92%
Mortgage Type
Commercial

Purchase Details

Closed on
Dec 15, 2008
Sold by
Silva John Paul
Bought by
Silva Properties Royal Oak Llc

Purchase Details

Closed on
Dec 11, 1997
Sold by
Caragher Christine L
Bought by
Silva John Paul

Purchase Details

Closed on
Apr 30, 1996
Sold by
Lundberg Rachel A
Bought by
Walenczak Christine L

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$92,700
Interest Rate
7.78%
Mortgage Type
Purchase Money Mortgage
Source: Public Records

Range of Values:

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Average Value
Not Available
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
Mannem Srinivasa $215,000 Interstate Title Inc
Silva Properties Royal Oak Llc -- Devon Title Agency
Silva Properties Royal Oak Llc -- None Available
Silva John Paul $119,000 --
Walenczak Christine L $103,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Silva Properties Royal Oak Llc $830,000
Previous Owner Walenczak Christine L $92,700
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/31/2020 03/31/20 Sold $215,000 -8.5% $165 / Sq Ft
02/27/2020 02/27/20 Pending -- -- --
01/06/2020 01/06/20 Price Changed $235,000 0.0% $181 / Sq Ft
01/06/2020 01/06/20 For Sale $235,000 +9.3% $181 / Sq Ft
12/31/2019 12/31/19 Off Market $215,000 -- --
06/01/2019 06/01/19 For Sale $250,000 -- $192 / Sq Ft
Source: Michigan Multiple Listing Service

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 $3,967 $90,870 $0 $0
2022 $4,327 $79,880 $0 $0
2020 $3,827 $71,010 $0 $0
2018 $4,327 $59,080 $0 $0
2017 $2,222 $59,080 $0 $0
2015 -- $52,060 $0 $0
2014 -- $50,500 $0 $0
2011 -- $50,840 $0 $0
Source: Public Records

Agents Affiliated with this Home

  • Jennie Silva

    Seller's Agent in 2020

    Jennie Silva

    Silva Property Management Company LLC

    (313) 510-0134

    1 in this area

    4 Total Sales

    Jennie Silva
    Section Image

  • L

    Buyer's Agent in 2020

    Linda Schwartz

    KW Professionals

    (734) 748-1700

    49 Total Sales

    Linda Schwartz
    Section Image
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Map

Source: Michigan Multiple Listing Service

MLS Number: 31381999

Michigan Multiple Listing Service

APN: 25-09-481-019

Michigan Oakland County Royal Oak 48067

406 W 12 Mile Rd, Royal Oak, MI

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Michigan Multiple Listing Service Source MLS: MiRealSource
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