1403 Cherokee Ave

Royal Oak, MI 48067
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2 bd, 1 ba | 1,375 sqft | Built in 1949

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List Price
$259,000

Initial Investment

$70,578

Purchase Price

$259,000

Down Payment

25%

Rent

$2,050

Total Return

$94,325

Annualized Return

18.7%

Cap Rate

5.9%

Gross Yield

9.5%

Cash Flow

$313

Appreciation

6.3%
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Features

Occupancy

Unspecified

Lease Start

-

Lease End

-

Lot Size

5,358

HOA

None

Flood Risk

Not Required

Beautiful Brick Ranch with many updates! Spacious, partially finished basement. Large 2-car detached garage with fenced-in back yard. Walking distance to parks and downtown Royal Oak! Seller is also agent.

MARKETS

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NEIGHBORHOOD

SCHOOLS

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Christopher Stjernholm
Trelora Realty, Inc.
AZ Agent License #359852

Annual Financial Highlights

Expected Rent

$23,370

Expenses

-$4,276

Property Taxes

-$4,700

Loan Payments

-$14,081

Net Cash Flow

$313

See more in Financials

Property Characteristics

Buyer's Agent

An experienced local, licensed real estate broker/agent will represent you in this transaction. They will negotiate on your behalf, from your first offer through closing.
  • You can contact your Agent with questions even before making an offer.
  • A professional home inspection will be conducted prior to closing.  This inspection, paid for by Roofstock, will be conducted by a Roofstock-affiliated vendor.  As soon as the report is ready, your Agent will discuss the findings with you and help with any next steps.

Property Management

Why choose?
From repairs and maintenance to communicating with tenants, our preferred property management teams protect your assets and keep things running smoothly.
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Listing Courtesy of:Philip Tsapatoris
Agent License 6501303420
Philip T Tsapatoris
Certified Agent Brokerage:Christopher Stjernholm
Trelora Realty, Inc.
AZ Brokerage License BR689329000
SourceRealcomp II Ltd./Great Lakes Repository (GLR)
MLS #20250026230
Last Updated: 04/20/2025 14:04
Disclaimer: The accuracy of this information is deemed reliable but not guaranteed or warrantied. All information should be independently verified before making purchase decisions. 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. The content relating to real estate for sale on this website appears courtesy of the Multiple Listing Service (MLS) listed as the “Source” on this page. Individual listings appear with the permission of the real estate brokerage identified under the “Listing Agent” on this page.