Two-Unit Duplex
For Sale
$300,000
Pending
511 Woodcrest Dr, Royal Oak, MI 48067
Separate upper and lower living spaces define the current layout.
Property Size1,508 SF
Days on Market56
Property Features for 511 Woodcrest Dr
General Information
Standard status
Pending
Size
1,508 SF
Property subtype
Investment
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,760
Building Details
Building Size
1,508 SF
Year Built
1924
Buildings
1
Units
2
Listed By:
Penny L Toth · License #6501324817
(248) 302-6130
Source:
Elliman
Added: Sep 4
Changed: Oct 27
Last Checked: Oct 28 at 8:18AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Penny L Toth
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Built in 1924, this residential property is arranged as two distinct living spaces, with one positioned above the other. The current configuration supports continued duplex use, while the layout may also accommodate a return to single-family living, subject to applicable requirements.
The property is located at 511 Woodcrest Dr in Royal Oak, with downtown Royal Oak reachable on foot. It has a Walk Score of 66, described as Somewhat Walkable, and a Bike Score of 55, described as Bikeable. Family members have occupied the home for approximately 20 years.
The property is located at 511 Woodcrest Dr in Royal Oak, with downtown Royal Oak reachable on foot. It has a Walk Score of 66, described as Somewhat Walkable, and a Bike Score of 55, described as Bikeable. Family members have occupied the home for approximately 20 years.
Key Highlights
- Current two‑unit configuration with separate upper and lower living spaces
- Built in 1924
- Located at 511 Woodcrest Dr, Royal Oak, MI 48067
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$19,960
Cap Rate
6.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$399,200
$399.2K
Cap Rate 7%
$285,143
$285.1K
Cap Rate 9%
$221,778
$221.8K
Market Conditions
NOI Build-Up for 1,508 SF
Gross rent
$29.9K $19.80/SF
− Vacancy
−$1.3K −$0.89/SF
EGI
$28.5K $18.91/SF
− OpEx
−$8.6K −$5.67/SF
NOI
$20.0K $13.24/SF
Area
Oakland County, MI
Vacancy
4.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$399,200
Cap Rate 7%
$285,143
Cap Rate 9%
$221,778
Alternative Uses
Best Use
Multifamily LT 5
$285.1K
$249.5K – $332.7K
NOI $19,960 @ 7.0% cap · market cap 6.65%
Second Best
Apartment 5plus
$264.2K
$231.2K – $308.3K
NOI $18,497 @ 7.0% cap · market cap 6.17%
Theoretical Best
Specialty Retail
$325.3K
$284.6K – $379.5K
NOI $22,768 @ 7.0% cap · market cap 7.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
2,494
Businesses Nearby
Explore this area
Business Placement
Demographics for 48067, MI
24,589
Population
13,714
Households
1.8
Avg Household Size
36
Median Age
67%
College-Educated
96%
High-School Grad
4.6 sq mi
ZIP Area
5,345
Density / Sq Mi
$107,355
Median Household Income
$76,700
Median Earnings
$1,435
Median Rent
$309,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Separate upper and lower living spaces define the current layout.
Where is this duplex located?
The property is located at 511 Woodcrest Dr Royal Oak, MI.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Current two‑unit configuration with separate upper and lower living spaces; Built in 1924; Located at 511 Woodcrest Dr, Royal Oak, MI 48067
