29630 Joy Rd · Livonia, MI 48150

$250,000

6 bd · 1.0 ba · 1,815 sqft · SingleFamily public records · 5 Days on market

Built 1967 6,534 sqft lot Est $250k · at est.

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +23.2/30.0
• ARV discount +7.6/15.0
• DSCR +7.4/10.0
• 1% rule +5.1/10.0
• Schools +4.6/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this spacious colonial in the heart of Livonia! Offering over 1,800 square feet of living space, this well-maintained home features 6 bedrooms, 1.1 bathrooms, and a finished basement with endless flexibility for entertaining, hobbies, or additional living space. Freshly updated with brand new paint and carpet throughout, the home is move-in ready with immediate occupancy available. Updated electrical panel (2026), main furnace (2025), and roof (2019) offer stress-free living. Enjoy quiet mornings or relaxing evenings on the charming covered front porch. A rare opportunity to own a lovingly cared for home that's being offered for the very first time!

Key facts

• Covered front porch
• Roof
• Finished basement

Tags

• FINISHED BASEMENT
• COVERED FRONT PORCH
• UPDATED ELECTRICAL PANEL
• MAIN FURNACE
• ROOF

Property features AI

Finance

• Other:
• Financial info:
• HOA & community:

Exterior

• Parking: Detached 1-car garage with alley access
• Security:
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Two levels; Ground-level entry with steps
• Construction: Aluminum siding and brick exterior
• Exterior features: Covered porch; Awning(s)

Interior

• Kitchen:
• Bedrooms:
• Flooring:
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Finished basement; 9 total rooms
• Laundry & utility:

What this means for you Summary

Snapshot

• This is a 6-bed/1.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $452 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $250k).
• Cap rate 8.5% vs local median 4.9% in Livonia — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 77/100 on livability (#116 in MI, #2,784 nationally) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities D, health & safety D, commute F.
• Livonia Public Schools School District (urban): math 46% / reading 59% proficiency, ranked #77 of 540 in MI (top 14%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 97 active listings in the ZIP; solid renter incomes; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).
• This rent runs 31% of the median local income ($98k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k of value loss. Plan a longer hold.
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Recommended offer $250,000

Questions for the listing agent

1. Built in 1967 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.01% ✓
• Cap rate: 8.46%
• Cash-on-cash: 7.75%
• DSCR: 1.34
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $250,470
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8650 Lanewood St	0.25mi	5/2.0 (-1)	1,656 (-9%)	17mo	$260,000	$157	50
8204 Flamingo St	0.61mi	6/2.0	1,993 (+10%)	2mo	$194,000	$97	50
8212 Carrousel Blvd	0.68mi	5/2.0 (-1)	1,920 (+6%)	10mo	$264,900	$138	42

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.5%
• Equity multiple: 0.83×
• Total profit: $-11,778
• Equity at exit: $37,276

10-year hold

• IRR: 5.1%
• Equity multiple: 1.38×
• Total profit: $26,546
• Equity at exit: $21,615

Cash invested: $70,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 62 Landlord-Friendly
• State Michigan: 62 Landlord-Friendly · EVEN
• County: — inherits STATE
• City: — inherits STATE

7-day pay-or-quit; mixed climate; Detroit/AA have some protections.

Methodology + full state rankings →

ZIP-level market 48150

• Active inventory: 97
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $2,535 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$135 /mo · $1,621/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$532
• Net cashflow: $452

Break-even live

Break-even rent $1,962

Max offer price $250,000

Occupancy floor 77%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-19
   status Pending 673-char remark

   Show marketing remark (673 chars)

   Welcome home to this spacious colonial in the heart of Livonia! Offering over 1,800 square feet of living space, this well-maintained home features 6 bedrooms, 1.1 bathrooms, and a finished basement with endless flexibility for entertaining, hobbies, or additional living space. Freshly updated with brand new paint and carpet throughout, the home is move-in ready with immediate occupancy available. Updated electrical panel (2026), main furnace (2025), and roof (2019) offer stress-free living. Enjoy quiet mornings or relaxing evenings on the charming covered front porch. A rare opportunity to own a lovingly cared for home that's being offered for the very first time!

2. 2026-05-19
   status Pending

   Show marketing remark (673 chars)

   Welcome home to this spacious colonial in the heart of Livonia! Offering over 1,800 square feet of living space, this well-maintained home features 6 bedrooms, 1.1 bathrooms, and a finished basement with endless flexibility for entertaining, hobbies, or additional living space. Freshly updated with brand new paint and carpet throughout, the home is move-in ready with immediate occupancy available. Updated electrical panel (2026), main furnace (2025), and roof (2019) offer stress-free living. Enjoy quiet mornings or relaxing evenings on the charming covered front porch. A rare opportunity to own a lovingly cared for home that's being offered for the very first time!

3. 2026-05-14
   listed $250,000 Active 673-char remark

   Show marketing remark (673 chars)

   Welcome home to this spacious colonial in the heart of Livonia! Offering over 1,800 square feet of living space, this well-maintained home features 6 bedrooms, 1.1 bathrooms, and a finished basement with endless flexibility for entertaining, hobbies, or additional living space. Freshly updated with brand new paint and carpet throughout, the home is move-in ready with immediate occupancy available. Updated electrical panel (2026), main furnace (2025), and roof (2019) offer stress-free living. Enjoy quiet mornings or relaxing evenings on the charming covered front porch. A rare opportunity to own a lovingly cared for home that's being offered for the very first time!

4. 2026-05-14
   listed $250,000 Active

   Show marketing remark (673 chars)

   Welcome home to this spacious colonial in the heart of Livonia! Offering over 1,800 square feet of living space, this well-maintained home features 6 bedrooms, 1.1 bathrooms, and a finished basement with endless flexibility for entertaining, hobbies, or additional living space. Freshly updated with brand new paint and carpet throughout, the home is move-in ready with immediate occupancy available. Updated electrical panel (2026), main furnace (2025), and roof (2019) offer stress-free living. Enjoy quiet mornings or relaxing evenings on the charming covered front porch. A rare opportunity to own a lovingly cared for home that's being offered for the very first time!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast MI · Partial reset (capped growth)

• Current annual tax: $1,621 · $135/mo
• Projected year-2 tax: $2,735 · $228/mo
• Expected delta: +$1,115/yr (+$93/mo · 68.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥98°F today · 14 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $30,417
• − Mortgage interest: −$14,004
• − Property taxes: −$1,621
• − Insurance: −$1,250
• − Repairs & maintenance: −$2,433
• − Management: −$2,433
• − Depreciation: −$7,273
• Taxable income: $1,404
• Est. tax owed @ 24.0%: −$337
• After-tax cash flow: $5,090/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Livonia Public Schools School District
• NCES district ID: 2621840
• Math proficiency: 46% ▼ -5.00%
• Reading proficiency: 59% ▬ 0.00%
• Median HH income: $65,268
• Composite: 46.27/100
• National rank: #2480
• State rank: #77 of 540 in MI

Livability — Livonia

• Score: 77/100
• State rank: #116
• US rank: #2784

Category grades

Amenities D Commute F Cost of living A+ Crime B Employment A+ Housing A+ Health & safety D User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Livonia, MI
• County: Wayne County · 1,562,939 people
• City population: 56,806
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 26,687
• Household income: $97,997
• Rent vs Own: 10.8% rent · 89.2% own
• Severe rent burden: 110.0

Population outlook (Wayne County) Hauer SSP2

• Today (2025): 1,675,273 people
• By 2030: 1,620,300 · -3.3%
• By 2040: 1,502,341 · -10.3%
• By 2050: 1,384,039 · -17.4%
• By 2075: 1,124,592 · -32.9%
• By 2100: 881,193 · -47.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 7% Hispanic / Latino 5% Black 3% Asian 2%
• Common ancestry: Romanian 13% Italian 5% Lithuanian 4%
• Foreign-born: 7% · Canada, South Korea, China
• Languages at home: 90% English-only · Other Indo-European 2% Spanish 2% Arabic 2%

Political lean MEDSL · Wayne

• 2024 margin: Strong D (+29.0) · D 62.7% · R 33.7% · Other 3.6%
• 2008→2024 swing: -20.5pp toward R · 2008: 49.5pp · 2024: 29.0pp
• All cycles: 2024: D+29.0 2020: D+38.1 2016: D+37.3 2012: D+46.9 2008: D+49.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -341.08%
• Current HPI: 197.495
• Rent YoY: —
• Metro: Detroit-Warren-Dearborn, MI
• State GDP YoY: ▲ 1.37%
• F500 in state: 28

Industry mix (Fortune 500 HQ in MI)

Industry	F500 HQs	Revenue
▸Automotive Parts	3	$48B
▸Automotive	2	$372B
▸Chemicals	1	$45B
▸Automotive Retail	1	$29B
▸Healthcare / Medical Devices	1	$23B
▸Automotive Technology	1	$20B

Price history

+0.0% since first listed

4 events — show timeline

• 2026-05-19 Pending — MiRealSource-MiMLS
• 2026-05-19 Pending — REALCOMP
• 2026-05-14 Listed $250,000 REALCOMP
• 2026-05-14 Listed $250,000 MiRealSource-MiMLS

Property tax history

-2.6%/yr

Latest (2025): $1,621 · -44.6% YoY. Source: county tax records.