6637 Joy Rd · Dexter, MI 48130

$335,000

3 bd · 2.0 ba · 1,535 sqft · SingleFamily public records · 14 Days on market

Built 1957 2.65 ac lot $218/sqft · 16% below area Est $441k · 24% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +10.6/30.0
• Schools +5.4/10.0
• Livability +4.2/5.0
• DSCR +3.0/10.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this charming ranch nestled on 2.65 acres of private, serene land offering the perfect blend of space, comfort, and opportunity. This 3-bedroom, 2-bath home features approximately 1,700 square feet of thoughtfully designed living space, including a large, light-filled living room with expansive windows and a cozy wood-burning stove, perfect for Michigan winters. The updated kitchen showcases stainless steel appliances and flows seamlessly into a spacious dining area, ideal for everyday living and entertaining. The primary bedroom is generously sized, complemented by two additional spacious bedrooms, two full bathrooms, and a functional mudroom entry with a convenient laundry area. Outside, you'll enjoy peaceful views from the deck overlooking mature trees and wide-open space. No HOA and plenty of room to relax or roam. A standout feature is the oversized detached garage, complete with living quarters and a full bath, currently generating tenant income; offering a unique investment or multi-use opportunity. This property delivers privacy, flexibility, and value all in one.

Key facts

• 2.65 acre lot
• Garage
• Built 1957

Property features AI

Exterior

• Parking: Detached oversized garage; Approximately 1.5 garage spaces
• Utilities: Private well water; Septic tank sewer
• Home design: Single-family residence; One story; Ground-level entry; Vinyl siding
• Construction: Built with vinyl siding; Slab foundation; Asphalt roof
• Exterior features: Deck; Paved road access; Pets allowed

Interior

• Kitchen: Dishwasher; Disposal; Free-standing electric range; Free-standing refrigerator; Gas water heater
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Baseboard heating; Wood stove; Ceiling fans; No central air
• Interior features: Unfurnished; Living room wood-burning stove fireplace; 8 total rooms
• Laundry & utility: Laundry room; Washer; Dryer

🏷️ Possibly a rental listed for sale. The $335,000 price doesn't fit this home's estimated sale value (~$440,851) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $335k.

Deal economics

• At list price, monthly cash flow is $-167 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $305k (8.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $260k (22.4% below list).
• Recommended offer: $260k (22.4% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 1.8% in Dexter — 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 83/100 on livability (#48 in MI, #1,011 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, employment A+; Watch: amenities C-, commute F.
• Dexter Community School District (suburban): math 54% / reading 63% proficiency, ranked #33 of 540 in MI (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 7% free/reduced lunch — higher-income household profile.
• Market conditions: 85 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 996 units permitted in Washtenaw County in 2024 (492 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Washtenaw County population projected at +25% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 18y ago 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.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $260,000 (22.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1957 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
6. 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.
7. 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.
8. 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: 0.78% ✗
• Cap rate: 5.69%
• Cash-on-cash: -2.14%
• DSCR: 0.90
• GRM: 10.7

CMA / ARV

• ARV (median comp): $440,851
• List price: $335,000
• Delta: -24.01%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6637 Joy Rd	0.00mi	3/2.0	1,700 (+11%)	0mo	$350,000	$206	82
7238 Quackenbush St	0.67mi	3/3.0	1,572 (+2%)	2mo	$452,039	$288	58
3672 Cushing Ct	0.74mi	3/3.0	1,568 (+2%)	2mo	$525,000	$335	56

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: -19.9%
• Equity multiple: 0.31×
• Total profit: $-64,947
• Equity at exit: $49,950

10-year hold

• IRR: -12.8%
• Equity multiple: 0.25×
• Total profit: $-70,336
• Equity at exit: $28,965

Cash invested: $93,800 (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 48130

• Active inventory: 85
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,600 medium
• Mortgage (P&I): −$1,757
• Tax from tax record: −$325 /mo · $3,897/yr
• Insurance: −$140
• HOA: −$0
• Vacancy / Maint / Mgmt: −$546
• Net cashflow: $-167

Break-even live

Break-even rent $2,812

Max offer price $305,477

Occupancy floor —

Sensitivity live

Price	-10% $23	-5% $-72	+0% $-167	+5% $-262	+10% $-357
Rent	-10% $-373	-5% $-270	+0% $-167	+5% $-64	+10% $38
Rate	-1.0pp $2	-0.5pp $-82	base $-167	+0.5pp $-254	+1.0pp $-342

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: $83,750
• Closing costs: $10,050
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7425 Ann Arbor St Dexter, MI	3.0	2.0	1200	$2,600	$2.17	15d	1	1.01mi

Listing history 12 events

1. 2026-05-14
   status Pending 1104-char remark

   Show marketing remark (1104 chars)

   Welcome home to this charming ranch nestled on 2.65 acres of private, serene land offering the perfect blend of space, comfort, and opportunity. This 3-bedroom, 2-bath home features approximately 1,700 square feet of thoughtfully designed living space, including a large, light-filled living room with expansive windows and a cozy wood-burning stove, perfect for Michigan winters. The updated kitchen showcases stainless steel appliances and flows seamlessly into a spacious dining area, ideal for everyday living and entertaining. The primary bedroom is generously sized, complemented by two additional spacious bedrooms, two full bathrooms, and a functional mudroom entry with a convenient laundry area. Outside, you'll enjoy peaceful views from the deck overlooking mature trees and wide-open space. No HOA and plenty of room to relax or roam. A standout feature is the oversized detached garage, complete with living quarters and a full bath, currently generating tenant income; offering a unique investment or multi-use opportunity. This property delivers privacy, flexibility, and value all in one.

2. 2026-05-14
   status Pending 1110-char remark

   Show marketing remark (1104 chars)

   Welcome home to this charming ranch nestled on 2.65 acres of private, serene land offering the perfect blend of space, comfort, and opportunity. This 3-bedroom, 2-bath home features approximately 1,700 square feet of thoughtfully designed living space, including a large, light-filled living room with expansive windows and a cozy wood-burning stove, perfect for Michigan winters. The updated kitchen showcases stainless steel appliances and flows seamlessly into a spacious dining area, ideal for everyday living and entertaining. The primary bedroom is generously sized, complemented by two additional spacious bedrooms, two full bathrooms, and a functional mudroom entry with a convenient laundry area. Outside, you'll enjoy peaceful views from the deck overlooking mature trees and wide-open space. No HOA and plenty of room to relax or roam. A standout feature is the oversized detached garage, complete with living quarters and a full bath, currently generating tenant income; offering a unique investment or multi-use opportunity. This property delivers privacy, flexibility, and value all in one.

3. 2026-05-04
   historical Accepting Backup Offers 1104-char remark

   Show marketing remark (1104 chars)

   Welcome home to this charming ranch nestled on 2.65 acres of private, serene land offering the perfect blend of space, comfort, and opportunity. This 3-bedroom, 2-bath home features approximately 1,700 square feet of thoughtfully designed living space, including a large, light-filled living room with expansive windows and a cozy wood-burning stove, perfect for Michigan winters. The updated kitchen showcases stainless steel appliances and flows seamlessly into a spacious dining area, ideal for everyday living and entertaining. The primary bedroom is generously sized, complemented by two additional spacious bedrooms, two full bathrooms, and a functional mudroom entry with a convenient laundry area. Outside, you'll enjoy peaceful views from the deck overlooking mature trees and wide-open space. No HOA and plenty of room to relax or roam. A standout feature is the oversized detached garage, complete with living quarters and a full bath, currently generating tenant income; offering a unique investment or multi-use opportunity. This property delivers privacy, flexibility, and value all in one.

4. 2026-05-04
   historical Active Under Contract 1110-char remark

   Show marketing remark (1104 chars)

   Welcome home to this charming ranch nestled on 2.65 acres of private, serene land offering the perfect blend of space, comfort, and opportunity. This 3-bedroom, 2-bath home features approximately 1,700 square feet of thoughtfully designed living space, including a large, light-filled living room with expansive windows and a cozy wood-burning stove, perfect for Michigan winters. The updated kitchen showcases stainless steel appliances and flows seamlessly into a spacious dining area, ideal for everyday living and entertaining. The primary bedroom is generously sized, complemented by two additional spacious bedrooms, two full bathrooms, and a functional mudroom entry with a convenient laundry area. Outside, you'll enjoy peaceful views from the deck overlooking mature trees and wide-open space. No HOA and plenty of room to relax or roam. A standout feature is the oversized detached garage, complete with living quarters and a full bath, currently generating tenant income; offering a unique investment or multi-use opportunity. This property delivers privacy, flexibility, and value all in one.

5. 2026-05-01
   listed $335,000 Active 1104-char remark

   Show marketing remark (1104 chars)

   Welcome home to this charming ranch nestled on 2.65 acres of private, serene land offering the perfect blend of space, comfort, and opportunity. This 3-bedroom, 2-bath home features approximately 1,700 square feet of thoughtfully designed living space, including a large, light-filled living room with expansive windows and a cozy wood-burning stove, perfect for Michigan winters. The updated kitchen showcases stainless steel appliances and flows seamlessly into a spacious dining area, ideal for everyday living and entertaining. The primary bedroom is generously sized, complemented by two additional spacious bedrooms, two full bathrooms, and a functional mudroom entry with a convenient laundry area. Outside, you'll enjoy peaceful views from the deck overlooking mature trees and wide-open space. No HOA and plenty of room to relax or roam. A standout feature is the oversized detached garage, complete with living quarters and a full bath, currently generating tenant income; offering a unique investment or multi-use opportunity. This property delivers privacy, flexibility, and value all in one.

6. 2026-05-01
   listed $335,000 Active 1110-char remark

   Show marketing remark (1104 chars)

   Welcome home to this charming ranch nestled on 2.65 acres of private, serene land offering the perfect blend of space, comfort, and opportunity. This 3-bedroom, 2-bath home features approximately 1,700 square feet of thoughtfully designed living space, including a large, light-filled living room with expansive windows and a cozy wood-burning stove, perfect for Michigan winters. The updated kitchen showcases stainless steel appliances and flows seamlessly into a spacious dining area, ideal for everyday living and entertaining. The primary bedroom is generously sized, complemented by two additional spacious bedrooms, two full bathrooms, and a functional mudroom entry with a convenient laundry area. Outside, you'll enjoy peaceful views from the deck overlooking mature trees and wide-open space. No HOA and plenty of room to relax or roam. A standout feature is the oversized detached garage, complete with living quarters and a full bath, currently generating tenant income; offering a unique investment or multi-use opportunity. This property delivers privacy, flexibility, and value all in one.

7. 2026-04-27
   historical $335,000 1104-char remark

   Show marketing remark (1104 chars)

   Welcome home to this charming ranch nestled on 2.65 acres of private, serene land offering the perfect blend of space, comfort, and opportunity. This 3-bedroom, 2-bath home features approximately 1,700 square feet of thoughtfully designed living space, including a large, light-filled living room with expansive windows and a cozy wood-burning stove, perfect for Michigan winters. The updated kitchen showcases stainless steel appliances and flows seamlessly into a spacious dining area, ideal for everyday living and entertaining. The primary bedroom is generously sized, complemented by two additional spacious bedrooms, two full bathrooms, and a functional mudroom entry with a convenient laundry area. Outside, you'll enjoy peaceful views from the deck overlooking mature trees and wide-open space. No HOA and plenty of room to relax or roam. A standout feature is the oversized detached garage, complete with living quarters and a full bath, currently generating tenant income; offering a unique investment or multi-use opportunity. This property delivers privacy, flexibility, and value all in one.

8. 2014-09-16
   soldstatus $219,000
9. 2008-04-28
   historical
10. 2008-04-28
    historical
11. 2008-02-27
    listed
12. 2008-02-27
    listed $195,000

ⓘ 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: $3,897 · $325/mo
• Projected year-2 tax: $4,528 · $377/mo
• Expected delta: +$631/yr (+$53/mo · 16.2%)

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

Taxation est. · year 1

• Rental income: $31,200
• − Mortgage interest: −$18,765
• − Property taxes: −$3,897
• − Insurance: −$1,675
• − Repairs & maintenance: −$2,496
• − Management: −$2,496
• − Depreciation: −$9,745
• Taxable loss: −$7,875
• Est. tax savings @ 24.0%: +$1,890
• After-tax cash flow: $-116/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: Dexter Community School District
• NCES district ID: 2612030
• Math proficiency: 54% ▼ -14.00%
• Reading proficiency: 63% ▼ -4.00%
• Median HH income: $94,299
• Composite: 54.03/100
• National rank: #1392
• State rank: #33 of 540 in MI

Livability — Dexter

• Score: 83/100
• State rank: #48
• US rank: #1011

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 16,849

Population outlook (Washtenaw County) Hauer SSP2

• Today (2025): 402,878 people
• By 2030: 424,104 · +5.3%
• By 2040: 464,633 · +15.3%
• By 2050: 504,728 · +25.3%
• By 2075: 614,463 · +52.5%
• By 2100: 676,181 · +67.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 6% Hispanic / Latino 3% Asian 2%
• Common ancestry: Romanian 8% Italian 4% Slovak 4%
• Foreign-born: 5% · Canada, China, South Korea
• Languages at home: 96% English-only · Other Indo-European 1% Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Washtenaw

• 2024 margin: Solid D (+44.4) · D 71.0% · R 26.6% · Other 2.4%
• 2008→2024 swing: +3.5pp toward D · 2008: 41.0pp · 2024: 44.4pp
• All cycles: 2024: D+44.4 2020: D+46.6 2016: D+41.5 2012: D+36.0 2008: D+41.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -198.65%
• Current HPI: 185.4179
• Rent YoY: —
• Metro: —
• 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

+79.5% since first listed

14 events — show timeline

• 2026-06-10 Sold (MLS) $350,000 REALCOMP
• 2026-06-10 Sold (MLS) $350,000 MiRealSource-MiMLS
• 2026-05-14 Pending — MiRealSource-MiMLS
• 2026-05-14 Pending — REALCOMP
• 2026-05-04 Contingent — MiRealSource-MiMLS
• 2026-05-04 Contingent — REALCOMP
• 2026-05-01 Listed $335,000 MiRealSource-MiMLS
• 2026-05-01 Listed $335,000 REALCOMP
• 2026-04-27 Coming Soon $335,000 MiRealSource-MiMLS
• 2014-09-16 Sold (Public Records) $219,000 Public Records
• 2008-04-28 Listing Removed — MiRealSource-MiMLS
• 2008-04-28 Delisted — AAMLS
• 2008-02-27 Listed $195,000 MiRealSource-MiMLS
• 2008-02-27 Listed — AAMLS

Property tax history

+4.6%/yr

Latest (2025): $3,897 · +6.1% YoY. Source: county tax records.