Oak Park Rentals (Detroit: real estate, condos, buying a home)

[jill greenberg]

I'm considering buying a home in Oak Park and renting it out. Can anyone share with me how real estate is doing in Oak Park compared with the rest of the Detroit area? Is Oak Park a good area to find people wanting to rent a home? What monthly price range do homes in Oak Park rent for (say 1,000-1,200 square feet - 3 bedroom 1 bath - average condition)?

[leavingMI123]

I own and rent a 3 bedroom home in the ghetto of Detroit 2 bath 1500 square feet full basement for $625. Ive been getting that amount for rent since 1992. I would imagine you would be safe with asking for $900. The only drawback to that is finding a tenant that would consistantly pay you that much every month. OP does have alot of townhouses/condos. So, I would say that OP does attract renters. In 1991 I rented in OP for $650 -- townhouse 2 bedroom 1 bath. (Village Green Townhouses off of W696)

[ckhthankgod]

What kind of reputation does Oak Park have in the area?

[leavingMI123]

My brother and daughter have been living in OP for decades. They seem to like it alot. It appears (to me) to be a decent enough suburb of Detroit to live in. The houses are really close together and the streets are narrow. There are an awful alot of police officers for this small suburb... From what Ive seen and heard from my neices and nephews, schools are good. As far as stats--dont know.