24 days on rocket

513 E Farnum Ave, Royal Oak, MI, 48067

$625,000

Home List Price

$7,422*

Closing Credit

4 Bedrooms
2 Full Baths, 1 Partial
1,888 SqFt
$331/SqFt
House

Location

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513 E Farnum Ave, Royal Oak$625,000

Buyer Closing Credits

$7,422*

1.25% Loan Amount

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Property Highlights

Home TypeResidential
Year Built1925
HeatingNatural Gas, Forced Air
BasementYes
MLS #20240070673
Lot Size0.15 Acres
StatusActive

About 513 E Farnum Ave

Welcome to one of the more unique properties in Royal Oak. 2 houses on 1 parcel. Live in the main home while renting or Airbnb your back house. Main house is a 4 bed 2.5 bath Colonial with a big front porch. The 2nd home in the back is a small 1 bed 1 bath home that's currently tenant occupied. Perfect location for an investor looking to add to their portfolio or any owner occupancy looking to house hack.

Property Details

Property Features

Property Information:

  • Architectural Style: Other
  • Year Built: 1925
  • Stories: 2
  • Living Area: 1,888 SqFt

Listing Office:

  • Office Name: Good Company
  • Office Phone: (248) 733-5811
  • Listing Agent: Jim Shaffer

Interior Features

Interior Information:

  • Basement: Yes

Bedroom and Bathroom Information:

  • Partial Bathrooms: 1
  • Full Bathrooms: 2
  • Total Bedroom Count: 4

Exterior Features

Exterior Information:

  • Private Pool: No

Lot Features

Lot Information:

  • Lot Size: 0.15 Acres

Utilities

Utilities Information:

  • Heating: Natural Gas, Forced Air

School Info

Assigned Schools Information:

  • Royal Oak Middle School, Public District Grades 6-8
  • Keller Elementary School, Public District Grades KG-5

Other

Directions Information:

  • Directions: Main St. & Gardenia Ave.

Price Information

Listing Price Info

Price Summary:

  • List Price: $625,000
  • Price Per SqFt: $331/SqFt

Tax Information:

  • Annual Amount: $4,363
  • Tax Year: 2020
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Housing Market Comparison

See how this home compares to others in Royal Oak, MI.

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Royal Oak, MI

City

Med. Sold Price

$344.9K

Med. Price/SqFt

$276

Avg. Days On Market

24

# of Sold Homes

82

513 E Farnum Ave vs Royal Oak

24 DAYS ON ROCKET

-0 Day

$625,000

+$280.1K More

$331/SqFt

+$55 More

KEY TAKEAWAY

This property is $280.1K more than the Median Sold Price and $55/SqFt more than other homes in Royal Oak, MI.

Based on homes sold in the last 12 months

MLS Details

MLS Information:

  • MLS Name: Realcomp II Ltd
  • MLS Number: #20240070673

Listing Office:

  • Office Name: Good Company
  • Office Phone: (248) 733-5811
  • Listing Agent: Jim Shaffer

IDXDisclaimer: The data relating to real estate on this web site comes in part from the IDX of Realcomp II Ltd. The accuracy of all information, regardless of source, is not guaranteed or warranted. All information should be independently verified.

IDX information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Any use of search facilities of data on the site, other than by a consumer looking to purchase real estate, is prohibited.

IDX provided courtesy of Realcomp II Ltd. Copyright © 2024 Realcomp II Ltd. Shareholders. All rights reserved. Originating MLS shown with each listing detail.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 10/18/2024, 12:20:52 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Property Sales & Tax

Tax History

YEARPROP. TAXASSESSMENT
2020$4,363$126,230
2018$4,428$111,350
2017$4,188$111,350

History based on county public records data.

Payment Calculator

$3,187

Per Month

Recommended Financing

30-Year Fixed

Rate/APR

7.5% / 6.68%

Total Monthly Payment

$1,940

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NMLS#3030

Schools

Schools Nearby

The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.

Elementary School

school-card-donut-568391
6
/10

  • Keller Elementary School

  • 1505 N Campbell Rd

  • 0.85 miles

  • Public District Grades KG-5

Middle School

school-card-donut-568392
5
/10

  • Royal Oak Middle School

  • 709 N Washington Ave

  • 0.48 miles

  • Public District Grades 6-8

All data from GreatSchools

Neighborhood

What Are The Neighbors Like?

The neighbors living near this home have an average income of $98,438. The most common annual income of people living in Royal Oak, MI is between $35k-100k. The majority of families are single, no kids. The majority of residents in this area have post secondary degree education.

All data provided by Home Junction and Claritas

Living In Royal Oak, MI

Content displayed has been generated by an AI model trained on a diverse range of data. While efforts have been made to ensure the quality and reliability of the content, there may be limitations or inaccuracies. The content should not be considered as a substitute for professional advice, and we recommend consulting with appropriate experts and independent sources for specific information or guidance. We assume no responsibility for any consequences arising from the use of this content.

Types of housing in Royal Oak, MI.

Royal Oak's housing market is diverse, offering a mix of single-family homes, apartments, and townhouses. The architectural styles in the area range from charming bungalows and classic colonials to contemporary new constructions. Single-family homes are the most prevalent, providing a suburban feel within a city setting. The homeownership rate in Royal Oak is robust, with a significant portion of residents owning their homes, while the remainder of the population enjoys the flexibility of renting.

What is it like to live in Royal Oak, MI?

Royal Oak prides itself on a vibrant community spirit and a lively downtown area. The city is celebrated for its array of festivals, including the annual Arts, Beats and Eats Festival, which showcases the community's commitment to culture and entertainment. The neighborhood's character is further defined by its eclectic mix of shops, restaurants, and entertainment venues, which contribute to its reputation as a desirable place to live.

Is it easy to get around Royal Oak, MI without a car?

The community is served by a well-rounded selection of services, including public and private schools that cater to a range of educational needs. Healthcare is accessible through local clinics and nearby hospitals that offer a variety of medical services. Royal Oak's public library system is active, providing resources and programming for residents of all ages. Retail and dining options reflect the local culture, with a blend of independent boutiques and eateries alongside well-known chains.

Transportation in Royal Oak, MI.

Transportation options in Royal Oak include a network of roads and highways that connect residents to the greater Oakland area and beyond. Public transit is available, with bus services facilitating local and regional travel. The city is also bike-friendly, with several paths and lanes designated for cyclists. While specific ride-share services are operational in the area, the city's walkable downtown core is particularly appealing to those who prefer to navigate on foot.

Frequently Asked Questions About 513 E Farnum Ave

What is the listing price of this property?

The listing price of 513 E Farnum Ave property is $625,000.

What type of property is this?

The property 513 E Farnum Ave is a house located in Royal Oak, Michigan, 48067.

Is this property for sale now?

Active Listing: 513 E Farnum Ave is For Sale (Active/New) which means the seller is accepting offers.

What are the assigned schools for this property?

The assigned schools for 513 E Farnum Ave are:
Keller Elementary School: GreatSchools Rating 6/10
Royal Oak Middle School: GreatSchools Rating 5/10

What is the annual property tax for this property?

According to the records, the last property tax for 2020 is $4,363 (source: MLS/based on county public records data).

How many bedrooms and bathrooms does this property have?

The property at 513 E Farnum Ave has 4 bedrooms and 2 full and 1 half bathrooms.

What is the square footage of this property?

The property 513 E Farnum Ave is 1,888 SqFt (source: MLS/tax record).

Which year was this property built?

The year of construction for 513 E Farnum Ave is 1925.

Rocket Homes›Michigan›Oakland County›Royal Oak›48067›513 E Farnum Ave

This home is located at 513 E Farnum Ave in Royal Oak, MI and zip code 48067. This 1,888 square foot home, which was built in 1925, sits on a 0.15 acre lot. Features: 4 bedrooms, 3 bathrooms. It has been listed on Rocket Homes since September 23, 2024 and is currently priced at $625,000.

Over 37 listings were sold over their listed price in September 2024 in Royal Oak, MI. In the same period over 30 listings were sold below the listed price and 15 listings were sold for the listed price. The inventory of homes for sale in Royal Oak, MI between August 2024 and September 2024 increased by 12.8%. Listings spent 24 days on the market in September 2024, and had a median list price of $344,900 during the same period.

From Rocket Homes Real Estate and based on county public records data.

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