Score
0Royal Oak, MI
928 Marywood Dr
330K
3 beds
2 baths
1,645 sqft
3 bd • 2 ba • 1,645 sf
Educational Use Only — NOT an appraisal or professional advice. — NOT professional advice. See terms
AI Property Analysis
0:000:00 / 0:00
List Price
$330,000
Price/Sq.Ft
$201
Year Built
AI Property Analysis
A comprehensive evaluation of this property's features, market position, and investment potential.
The Good
• **Desirable Location:** Royal Oak is a highly sought-after city, indicating that the property is likely in a desirable location with access to local amenities and services.
• **3 Bedrooms and 2 Bathrooms:** The 3-bedroom, 2-bathroom configuration is suitable for many families and could translate to good demand in the rental market. The median income in the area supports this.
• **1645 Square Feet:** The size of the property is a good size for a family, offering ample living space. The price per sqft is $200.61, which is reasonable, but more context is needed to evaluate this.
• **Strong Rental Market:** The strong rental rates in Royal Oak ($2070/month for a 3-bedroom) suggest that this property could generate a good cash flow for investors or those looking to rent it out in the future.
• **Active Status:** The property's "active" status indicates it is available for purchase, which is a positive sign for buyers looking to move in soon.
The Bad
• **Unknown Year Built:** The lack of a specified build year makes it difficult to assess the property's condition and potential maintenance needs. This is a significant drawback, as older homes tend to have more issues.
• **No Property Description:** The absence of a property description makes it impossible to assess the layout, room sizes, and overall condition of the home. This lack of information is concerning.
• **No Room Details:** Without room details, buyers cannot evaluate the suitability of the property for their needs. This lack of information makes it challenging to assess whether the 3 bedrooms and 2 bathrooms meet their requirements.
• **No Utility Information:** The lack of details about the utilities (heating, cooling, etc.) makes it impossible to evaluate their efficiency and potential for replacement. This is a critical oversight.
• **No Property Features:** The absence of listed features makes it difficult to compare this property with other homes in the area and assess its value.
The Ugly
• **Potential for Hidden Issues:** Older homes often have hidden issues such as structural problems, outdated plumbing or electrical systems, and potentially hazardous materials like lead or asbestos. These issues can lead to unexpected and costly repairs.
• **Need for Updates:** Given the age of the property, it is likely that it will require updates and renovations. These updates can be expensive and time-consuming. The exterior of the house shows signs of age and may need to be repainted soon.
• **Smaller Lot:** Compared to newer suburban developments, this property may have a smaller yard, which can be a drawback for families with children or those seeking more outdoor space. The property's yard is covered in leaves and has a lot of bushes, suggesting it needs maintenance.
• **Potential for Bidding Wars:** The competitive nature of the Royal Oak market means that buyers may need to engage in bidding wars, driving up the price and potentially overpaying for the property.
• **Unspecified Costs:** The lack of utility information and property descriptions makes it difficult to assess the total ownership costs, including utilities, maintenance, and potential upgrades. This lack of clarity can be problematic for budgeting purposes.
Who is this property for?
These details are presented solely for educational purposes and are not meant to steer or limit any prospective buyer.
Best For
• **Families Seeking a Starter Home:** The 3-bedroom, 2-bathroom layout provides sufficient space for a small to medium-sized family. The median income in Royal Oak ($93,902) suggests that this property could be within reach for many families.
• **Buyers Comfortable with Older Homes:** Given the likely age of the property (unspecified but typical of the area), buyers who appreciate the charm of older homes and are prepared for potential maintenance are a good fit.
• **Homeowners Prioritizing Location:** Proximity to downtown Royal Oak and its amenities will appeal to those seeking a vibrant, walkable community.
• **Buyers Seeking a Solid Investment:** While the property may require some updates, the strong rental market (3-bed at $2070/month) suggests that this property has good potential for appreciation and rental income.
• **Buyers with a Moderate Budget:** At $330,000, this property is priced competitively within the Royal Oak market, making it accessible to a wider range of buyers than higher-end homes.
Not For
• **Buyers Seeking a New Construction:** Given the age of the property, those seeking a new home with modern amenities should look elsewhere.
• **Buyers with Limited Funds for Repairs:** Older homes often require maintenance. Buyers who cannot afford potential repairs should not consider this property.
• **Buyers Prioritizing Large Lots and Privacy:** The typical older homes in Royal Oak have smaller lots and less privacy, making this unsuitable for buyers seeking large yards.
• **Buyers Seeking a Turn-Key Property:** This property may require updates and renovations, making it unsuitable for buyers seeking a move-in-ready home.
• **Buyers with Very High Expectations for City Services:** While Royal Oak offers good city services, those looking for additional amenities not standard might find this property lacking.
Demographics
Area Median Income
$93,902
Property History
Price History
Ownership Timeline
$0Cash Purchase
Jul 20, 2024Edward BaranskiJames E Brooker Revocable Living Trust
Quit Claim Deed
Non-Arm's Length Transactions
$330,000Financed
Jul 19, 2024James Brooker, James E Brooker Revocable Living TrustGeorden Jones, Roupen Odabashian
Warranty Deed
Standard Sale (Purchase/Resales)
$0Cash Purchase
Dec 6, 2021James E BrookerJames E Brooker, James E Brooker Revocable Living Trust
Intrafamily Transfer
Non-Arm's Length Transactions
$157,500Cash Purchase
Feb 26, 1998Wayne R BurganJames E Brooker
Deed
Standard Sale (Purchase/Resales)
Sunlight Analysis
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Sunlight Analysis
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Financials
Monthly Costs
Market Rent (3 bed)
Get a detailed estimate on Zillow$1,160
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Location & Comparables
Subject Property
Comparable Sales
Subject Property
Price
$330,000
Price/sqft
$201
Layout
3 bd•2 ba
Stats in the Area
Based on 6 comparable properties nearby
Average Price
$466,333
29.2%
Your price is 29.2% below average
Median Price
$470,000
29.8%
Based on 6 recent sales
Price per Sq.Ft
$309
35.1%
Your price is 35.1% below average $/sqft
Comparable Properties
| Address | Price | Sq.Ft | Beds | Baths | $/Sq.Ft | Sale Date |
|---|---|---|---|---|---|---|
| 1217 Lloyd Avenue, Royal Oak, MI 48073 | $510,000 | 1,500 | 3 | 2.1 | $34069.5% | 12/12/2024 |
| 10434 Talbot Avenue, Huntington Woods, MI 48070 | $540,000 | 1,682 | 3 | 2.1 | $32160.0% | 10/31/2024 |
| 10015 LASALLE Boulevard, Huntington Woods, MI 48070 | $393,000 | 1,400 | 3 | 2 | $28139.9% | 11/8/2024 |
| 1407 N PLEASANT Street, Royal Oak, MI 48067 | $455,000 | 1,702 | 3 | 2.1 | $26733.3% | 10/16/2024 |
| 1521 Catalpa, Royal Oak, MI 48067 | $430,000 | 1,377 | 3 | 2 | $31255.7% | 11/11/2024 |
| 101 Curry Ave Avenue #532, Royal Oak, MI 48067 | $470,000 | 1,405 | 2 | 2 | $33566.8% | 10/31/2024 |
1217 Lloyd Avenue, Royal Oak, MI 48073
Price: $510,000
Sq.Ft: 1,500
Beds/Baths: 3/2.1
$/Sq.Ft:
$34069.5%
Sale Date: 12/12/2024
10434 Talbot Avenue, Huntington Woods, MI 48070
Price: $540,000
Sq.Ft: 1,682
Beds/Baths: 3/2.1
$/Sq.Ft:
$32160.0%
Sale Date: 10/31/2024
10015 LASALLE Boulevard, Huntington Woods, MI 48070
Price: $393,000
Sq.Ft: 1,400
Beds/Baths: 3/2
$/Sq.Ft:
$28139.9%
Sale Date: 11/8/2024
1407 N PLEASANT Street, Royal Oak, MI 48067
Price: $455,000
Sq.Ft: 1,702
Beds/Baths: 3/2.1
$/Sq.Ft:
$26733.3%
Sale Date: 10/16/2024
1521 Catalpa, Royal Oak, MI 48067
Price: $430,000
Sq.Ft: 1,377
Beds/Baths: 3/2
$/Sq.Ft:
$31255.7%
Sale Date: 11/11/2024
101 Curry Ave Avenue #532, Royal Oak, MI 48067
Price: $470,000
Sq.Ft: 1,405
Beds/Baths: 2/2
$/Sq.Ft:
$33566.8%
Sale Date: 10/31/2024
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