816-818 E 5th Street

About this home

Prime Royal Oak location! This nicely updated two-unit property offers an excellent opportunity for an owner-occupant or investor. Each unit features 2 bedrooms and 1 full bath, with comfortable layouts and separate utilities. Numerous capital improvements include a newer roof, newer A/C and HVAC systems. Shared basement provides additional storage and laundry. Both units are currently occupied by family friends with no formal rental agreements in place. A great opportunity to own a well-maintained income-producing property in a highly desirable Royal Oak location!

Interior

Systems and utilities

Exterior and lot

Taxes, HOA and more

Schools

How it compares in Royal Oak

Over the last 90 days, 257 homes sold in Royal Oak for a median of $350,000, about $206 per square foot, and the typical one went under contract in 12 days. This home is listed at $469,900, or $252 per square foot, 22% above the city median, and has been on the market 0 days. Size, condition, updates and the exact street all move the number, so treat this as context. See recent Royal Oak sales or ask us for the comparable sales on this one.

Property taxes for a new owner

The current owner pays about $5,696 a year. A buyer who lives here would pay about $9,008 a year once the taxable value resets after the sale, at the 2025 homestead rate of 37.96 mills for Royal Oak City and Royal Oak schools, plus the 1% administration fee. Michigan resets a home's taxable value the year after it sells, so the seller's bill isn't a good number to budget with. See the math.

Monthly payment estimate

Estimate only, 30 year fixed, includes taxes at a new owner's rate when listed. Ask us for a lender quote.

Location

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