$4,750 Closing Credit¹
#20240070597, Jim Shaffer, Listing Office: Good Company
$5,047
closing credit¹
501 W Farnum Ave Royal Oak, MI 48067
$425,000 List price
$5,047
Closing credit¹
3 beds
2 full
986 sqft
0.1 acres
$431 / sqft
House
Property details
About 501 W Farnum Ave
Amazing house walking distance to downtown Royal Oak. This 4 bed 2 bath bungalow is currently used as an investment property. This home is a great opportunity for an owner occupant looking for their next house in Royal Oak or for an investor looking to add to their portfolio.
Highlights
Home typeSingle Family Residence
HeatingForced Air, Natural Gas
StatusActive
Size986 sqft
BasementYes
Lot size0.12 Acres
Year built1920
ParkingNoGarage
MLS #20240070374
Summary
- MLS Number: 20240070374
- MLS Name: Realcomp II Ltd
- Office Name: Good Company
- Office Phone: (248) 733-5811
- Listing Agent: Jim Shaffer
Disclaimer: 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 © 2025 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: 2/2/2025, 11:55:52 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Get an agent. Get a mortgage. Save big.¹
$425,000
501 W Farnum Ave
$5,047
closing credit¹
Sell your home with Rocket and save even more!
Seller rebate
0.5% sale price²
Price information
Property sales
We're sorry, we currently don't have property sales data for this listing.
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $105,880 | $3,052 |
| 2020 | $81,340 | $3,011 |
| 2018 | $75,530 | $3,138 |
| 2017 | $75,530 | $2,874 |
History based on county public records data.
Nearby schools
7
Northwood Elementary School
Public District KG-5
0.8 mi
•926 W 12 Mile Rd
6
Keller Elementary School
Public District KG-5
1.4 mi
•1505 N Campbell Rd
7
Rogers Elementary School
Public District KG-5
1.4 mi
•2265 Hamilton Ave
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $96,591. Typical income of Royal Oak, MI residents is between $35k-100k annually. The majority of families are single, no kids. The majority of residents in this area have post secondary degree education.
How much money do the neighbors make?
11%
<35k
41%
35k-100k
39%
100k-200k
9%
200k+
What level of education do the neighbors have?
No High School
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
58%
Single, No Kids
3%
Single, with Kids
25%
Married, No Kids
14%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
10%
<11 yrs old
3%
12-17 yrs old
32%
18-34 yrs old
48%
35-64 yrs old
7%
65+ yrs old
What do the neighbors do for fun?
Tennis
Hiking/backpacking
Live Theatre
Where do the neighbors shop?
Crate & Barrel
Bloomingdales
Nordstrom Rack
Where do the neighbors go to eat?
Starbucks
Boston Market
The Cheesecake Factory
What do the neighbors drive?
BMW
Audi
Mercedes
What do the neighbors listen to?
News
Alternative- Rhythmic Contemporary Hits
All data provided by Home Junction and Claritas
Similar homes for sale
$4,660 Closing Credit¹
#24061986, Ryan Heward, Dustin Shaeffer, Listing Office: Golden Key Real Estate LLC
$3,964 Closing Credit¹
#50164130, Jennifer Caira-Lauff, Listing Office: Real Estate One Chesterfield
$3,859 Closing Credit¹
#20250003843, Donna M Barlow, Listing Office: Signature Sothebys International Realty Bham
New - 3 days on RocketVideo tour
$3,907 Closing Credit¹
#20250006012, Mallory R Ratliff, Listing Office: Berkshire Hathaway HomeServices Michigan Real Est
$3,325 Closing Credit¹
#20240070601, Barbara Schaefer, Thomas B Schaefer Jr, Listing Office: Berkshire Hathaway HomeServices Michigan Real Est
Backup offers
$2,909 Closing Credit¹
#24062914, Michael Klaiber, Listing Office: K. W. Peterson & Associates
$5,344 Closing Credit¹
#20240070638, Jim Shaffer, Listing Office: Good Company
Backup offers
$2,969 Closing Credit¹
#20250002152, Robert Kobylas, Listing Office: Premier Realty Centers LLC
New - 2 days on Rocket
$2,725 Closing Credit¹
#50165644, Frank Mancuso III, Listing Office: Real Estate One Inc -SCS
Frequently asked questions
Living in Royal Oak, MI
About 501 W Farnum Ave
This home is located at 501 W Farnum Ave in Royal Oak, MI and zip code 48067. This 986 square foot home, which was built in 1920, sits on a 0.12 acre lot. Features: 3 bedrooms, 2 bathrooms. It has been listed on Rocket Homes since September 23, 2024 and is currently priced at $425,000.
Over 12 listings were sold over their listed price in January 2025 in Royal Oak, MI. In the same period over 21 listings were sold below the listed price and 12 listings were sold for the listed price. The number of listings in Royal Oak, MI decreased by 12.9% between December and January 2025. Listings spent 44 days on the market in January 2025, and had a median list price of $346,258 during the same period.
From Rocket Homes Real Estate and based on county public records data.