What Does $300,000 Get You In Royal Oak, Michigan? - It’s no secret that Royal Oak, Michigan is drastically gaining popularity, from their amazing downtown atmosphere to their city offerings. So with that being said, I’m going to break down 6 homes in 6 different price points all under $300,000 to give you a VERY GOOD Idea of how far you can stretch your dollar in the wonderful city of Royal Oak, let’s get to it.
I don’t want to sway too far away from what you clicked on this video for, so I’ll link a few videos below about Royal Oak, Ferndale, Berkley, Troy and Birmingham to cover all the nearby cities in case you’re interested in the area in general.
Jumping to the first home on the lower end of the price point, we have a condo located on the corner of Woodward Avenue and 13 mile road in the Babcock Co-op apartments. This $65,000, 1 bedroom, 1 bathroom condo with 600 finished square feet, without a garage, was built in 1964. This condo is cash only due to the type of home ownership it is, and that’s a cooperative, or co-op for short. For those of you that don’t know what a co-op is, they are more popular in the west and east coasts, but essentially these units are owned by an organization and are sold as shares to the residents who live in the communities.
All occupants share costs of upkeep, maintenance and shared amenities across all of its membership. Without going into too much detail, the main benefit is they’re typically more affordable, the downside is the approval process to be approved, maintenance fees and any renovations need to be approved by the board. I have helped a few clients purchase a co-op and there were definitely some hurdles to doing so, but for an affordable place, it was most definitely worth it.
This condo is perfect for retirees, snowbirds, downsizers, students or even some Beaumont professionals, since the commute is very ideal. This condo comes with an association fee of $324 a month that covers: Snow Removal, Insurance, Gas, Maintenance Structure, Maintenance Grounds, Trash, and Water.
Taking a look at these images some more, it’s not anything too amazing, and resembles apartment living in a sense based on the size. It has all new stainless steel appliances and the laundry is located in the commons area along with an additional storage unit for your items.
Moving on over to home #2 on the list, we have a single family home located between Lincoln Ave and Campbell Road, which is a short commute form I-75 and 696. ThIs $140,000, 2 bedroom, 1 bathroom home with 875 finished square feet, with a garage, on 0.09 acres that was built in 1949, needs quite a bit of TLC to say the least. Looking through these images, you’d need to rip out the carpet, paint and fix the walls, update the electrical, get new windows most likely, because all the window A/C units probably did some damage, along with the older age of them, and purchase all new appliances. This is by no means a move-in ready home, but could definitely be a good fixer upper for someone looking to live closer to the downtown area. In the last 60 or so days, there have been 4 2 bedroom, 1 bathroom homes active and sold between the price ranges of $158,000 and $299,500, just to put the pricing of this home into perspective.
Stepping over to home #3 on the list, located in the Coventry Park homes community, we have a 3 bedroom, 1.5 bathroom condo, with 1,458 finished square feet, built in 1971, located off Crooks road near 14 mile road listed at $205,000. This end unit condo with windows on three sides, is very spacious with a great fenced in backyard area. Again, it’s not fresh off the renovation train by any means, it’s full of all different wallpapers, but has a way better layout than most condos I’ve talked about in this little series I have been doing. It has updated windows, newer washer and dryer, and a partially finished lower level with a wet bar. This condo complex has a clubhouse, and inground community pool as well. This community has an association fee of $478 a month which covers Snow Removal, Maintenance Structure, Maintenance Grounds, Trash, and Water.
Next onto house #4, located west of the last home I mentioned off 10 mile road, near I-696, this 3 bedroom, 1.5 bathroom home with 1,100 finished square feet on 0.12 acres with no garage, but has a basement, was built in 1950. This tidy bungalow has great curb appeal with a red front door and neat landscaping to create an awesome welcome factor. Beyond that red door is pristine hardwood floors, with neutral painted gray walls, with ample storage space throughout all the kitchen cabinetry, this is a move-in ready home you need to have on your radar if you’re looking in the area. Not only that, the basement is finished with a half bathroom and a bar that is just a perfect spot for entertaining guests. The backyard is very deep and has a privacy fence all the way around, and has so much potential to create an entertaining space. Listed at $240,000, this home is primely located just steps away from Lawson Park and just a quick walk to downtown Royal Oak.
Moving right along to home #5 on this list, we have a 3 bedroom, 1.5 bathroom home with just over 1,000 finished square feet, with a basement, but no garage, on 0.08 acres and was built in 1919. Listed at $289,000, this home is located off 11 mile road and is essentially in the heart of Royal Oak. This beautiful craftsman style home has great curb appeal with blue siding and a fall orange door, with dark wood lining the top of the covered porch. This home also has some great hardwood floors, and if you haven't noticed, it’s been quite a trend with these Royal oak homes, and I have to say, it’s a nice touch for people to not just get rid of these hardwood floors for the typical laminate flooring, but instead, they take the time to refinish these floors and bring some of the 80-100 year old features back to life.
Taking a look through some of these images, the home is staged incredibly well, from the dining room table, and bookcases, to the small kitchen appliances and built in spice rack, to the updated bathrooms and finished basement, this home checks quite a few wants and needs off a buyers checklist to say the least, and then we take a look at the beautifully fenced in backyard. It’s not incredibly spacious, but it gives off a very cozy vibe that is very much ideal for entertaining a smaller group of guests.
Last but not least, we have home #6 on the list, coming in at $299,000. This home has 3 bedrooms, 1.5 bathrooms with just under 1,000 finished square feet, with a basement and a garage all situated on around 0.11 acres. Built in 1940, this home is located near home #2 on this list between Lincoln Ave and Campbell Road. This home feels a little cozier than the other homes, but it’s safe to say that these homeowners spent a little more time incorporating some fine details that set this home apart from several others in the city of Royal Oak. Not only that, but this home is located Close to VFW Park, Salter Community Center, Dondero Park, and the Tennis Courts of Franklin Park.
Taking a look at these images, you can see they’ve adopted a very neutral décor, while having the pristine hardwood floors that we’ve seen quite a bit in this list, granite counter tops in the kitchen, stainless steel appliances, a little dining nook with built in seating, and an amazing finished basement with a bar. Not only that, they have a great private backyard that is fully fenced and connects to a two car detached garage that is heated and has electrical with a very convenient side entry door to access from the backyard.
After following along and seeing all six home options in six different prices ranges under $300,000, what are your thoughts about Royal Oak and affordability? Drop your thoughts in the comments below. If you want me to do more videos like this in other cities throughout southeast Michigan, comment what cities I should do next in the comments below as well!
OTHER ROYAL OAK RELATED VIDEOS:
→Royal Oak Vs. Ferndale: https://youtu.be/5setqYS7x2Q
→Berkley Video: https://youtu.be/xKcNuwZfl4Q
→Birmingham Video: https://youtu.be/jYvg9YfdWdg
→Troy Video: https://youtu.be/dJyT3l5746s
Andrew McManamon is a Michigan REALTOR® with Signature Sotheby’s International Realty and provides real estate services to Buyers, Sellers and Investors throughout SE Michigan including Livingston County, Oakland County, Washtenaw County, Genesee County & beyond. Andrew has become one of the rising stars of Michigan real estate agents. Prior to his real estate career Andrew was responsible for managing a senior living facility in Brighton, Michigan as a dining supervisor and an activities assistant. Andrew’s passion to help people is unlike any other, and he continues to strive to be best resource he can be. Andrew graduated from Cleary University in Howell, Michigan with a double major and currently resides in White Lake, Michigan.