26790 Joy Rd · Redford, MI 48239

$59,900

1 bd · 1.0 ba · 1,292 sqft · Condo · 37 Days on market

Built 1966 Average condition $46/sqft · 66% below area $324/mo HOA · 28% of rent

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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 +26.9/30.0
• 1% rule +10.0/10.0
• DSCR +9.3/10.0
• ARV discount +7.5/15.0
• Rent growth +3.3/5.0
• Condition / age +2.8/5.0
• Livability +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

CONDO IN A DESIRABLE LOCATION. CONDO OFFERS 1 BEDROOM WITH WALK IN CLOSET AND 1 FULL BATH. LIVING ROOM. HOA FEE COVERS GAS, WATER, SNOW REMOVAL, SEWER, MAINTENANCE GROUND AND STRUCTURE. WASHER/DRYER AVAILABLE IN COMMON AREA FOR ALL RESIDENTS USE. ADDITIONAL STORAGE AVAILABLE IN BASEMENT. UNIT IS ON THE SECOND FLOOR. COMPLEX HAS PRIVATE POOL FOR RESIDENTS. HOA REQUIRES UNIT TO BE OWNER OCCUPANT. LAND CONTRACT TERMS AVAILBLE. BATVAI

Key facts

• Private pool
• Walk in closet
• Additional storage

Tags

• WALK IN CLOSET
• PRIVATE POOL
• ADDITIONAL STORAGE

Property features AI

Finance

• Other: Above-grade finished area and below-grade finished area reported as 646 (square feet)
• HOA & community: Homeowners association with a monthly fee of $324

Exterior

• Parking: Parking lot; no garage
• Utilities: Public water; Public sewer
• Home design: Condominium (residential); One level; Ground-level entry
• Construction: Brick construction; Block foundation
• Exterior features: Paved road access; Pets allowed

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Baseboard heating; Hot water heating; Natural gas heating; No cooling
• Interior features: Partially finished basement with interior entry; Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath condo listed at $60k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $166 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade C — affects rentability + tenant quality, not the cash-flow math above.
• South Redford School District (suburban): math 11% / reading 29% proficiency, ranked #455 of 540 in MI (top 84%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: Rents rising (+3.2%/yr); 188 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $414 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.2% rent growth), your $17k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 14 sale attempts since 29y 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: HOA is 28% of rent.

Recommended offer $58,103 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1966 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.91% ✓
• Cap rate: 9.61%
• Cash-on-cash: 11.85%
• DSCR: 1.53
• GRM: 4.4

CMA / ARV

• ARV (median comp): $175,000
• List price: $59,900
• Delta: -65.77%
• Verdict: UNDERPRICED
• Comps: 5 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.25% rent growth · sell at horizon

5-year hold

• IRR: 2.1%
• Equity multiple: 1.08×
• Total profit: $1,349
• Equity at exit: $8,931

10-year hold

• IRR: 12.3%
• Equity multiple: 2.00×
• Total profit: $16,828
• Equity at exit: $5,179

Cash invested: $16,772 (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 48239

• Rents YoY: 3.2%
• Active inventory: 188
• Price-to-rent: 4.4×

Monthly cashflow live

• Estimated rent: $1,144 medium
• Mortgage (P&I): −$314
• Tax est. 1.5%: −$75 /mo · $898/yr
• Insurance: −$25
• HOA: −$324
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $166

Break-even live

Break-even rent $934

Max offer price $59,900

Occupancy floor 81%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
27201 Canfield St W Dearborn Heights, MI	1.0–2.0	1.0–2.0	852	$1,024	$1.20	2d	22	0.42mi
6954 Inkster Rd Dearborn Heights, MI	1.0–2.0	1.0–1.5	837	$939	$1.12	2d	9	1.33mi

HOA detail condo

• Monthly dues: $324 · $3,888/yr
• Likely covers: watersewergassnow removalpool
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 47 events

1. 2026-06-18
   days on market $59,900 Active 37 DOM
2. 2026-06-17
   days on market $59,900 Active 36 DOM
3. 2026-06-16
   days on market $59,900 Active 35 DOM
4. 2026-06-15
   days on market $59,900 Active 34 DOM
5. 2026-06-13
   days on market $59,900 Active 32 DOM
6. 2026-06-09
   days on market $59,900 Active 28 DOM
7. 2026-06-08
   days on market $59,900 Active 27 DOM
8. 2026-06-07
   days on market $59,900 Active 26 DOM
9. 2026-06-04
   days on market $59,900 Active 23 DOM
10. 2026-06-03
    days on market $59,900 Active 22 DOM
11. 2026-06-02
    days on market $59,900 Active 21 DOM
12. 2026-06-01
    days on market $59,900 Active 20 DOM
13. 2026-05-31
    days on market $59,900 Active 19 DOM
14. 2026-05-12
    listed $59,900 Active 434-char remark

    Show marketing remark (434 chars)

    CONDO IN A DESIRABLE LOCATION. CONDO OFFERS 1 BEDROOM WITH WALK IN CLOSET AND 1 FULL BATH. LIVING ROOM. HOA FEE COVERS GAS, WATER, SNOW REMOVAL, SEWER, MAINTENANCE GROUND AND STRUCTURE. WASHER/DRYER AVAILABLE IN COMMON AREA FOR ALL RESIDENTS USE. ADDITIONAL STORAGE AVAILABLE IN BASEMENT. UNIT IS ON THE SECOND FLOOR. COMPLEX HAS PRIVATE POOL FOR RESIDENTS. HOA REQUIRES UNIT TO BE OWNER OCCUPANT. LAND CONTRACT TERMS AVAILBLE. BATVAI

15. 2026-05-12
    listed $59,900 Active 434-char remark

    Show marketing remark (434 chars)

    CONDO IN A DESIRABLE LOCATION. CONDO OFFERS 1 BEDROOM WITH WALK IN CLOSET AND 1 FULL BATH. LIVING ROOM. HOA FEE COVERS GAS, WATER, SNOW REMOVAL, SEWER, MAINTENANCE GROUND AND STRUCTURE. WASHER/DRYER AVAILABLE IN COMMON AREA FOR ALL RESIDENTS USE. ADDITIONAL STORAGE AVAILABLE IN BASEMENT. UNIT IS ON THE SECOND FLOOR. COMPLEX HAS PRIVATE POOL FOR RESIDENTS. HOA REQUIRES UNIT TO BE OWNER OCCUPANT. LAND CONTRACT TERMS AVAILBLE. BATVAI

16. 2025-12-31
    soldstatus $59,500 Closed

    Show marketing remark (351 chars)

    WHY PAY RENT, WHEN YOU CAN BUY? 1 BEDROOM AND 1 FULL BATH WITH OVER 700 SQ FT CONDO. LOWER LEVEL. SHARED BASEMENT PROVIDES ONSITE LAUNDRY. HOA COVERS GAS, HEAT, CONDO LIVING MAINTENANCE FREE. NEED HELP FINANCING. SELLER OFFERING LAND CONTRACT TERMS. GOOD OR BAD CREDIT UTILIZE SELLER FINANCING TO OWN YOUR OWN PROPERTY. EZ SHOWINGS. AS IS SALE. BATVAI

17. 2025-12-31
    soldstatus $59,500 Closed

    Show marketing remark (351 chars)

    WHY PAY RENT, WHEN YOU CAN BUY? 1 BEDROOM AND 1 FULL BATH WITH OVER 700 SQ FT CONDO. LOWER LEVEL. SHARED BASEMENT PROVIDES ONSITE LAUNDRY. HOA COVERS GAS, HEAT, CONDO LIVING MAINTENANCE FREE. NEED HELP FINANCING. SELLER OFFERING LAND CONTRACT TERMS. GOOD OR BAD CREDIT UTILIZE SELLER FINANCING TO OWN YOUR OWN PROPERTY. EZ SHOWINGS. AS IS SALE. BATVAI

18. 2025-12-25
    status Pending

    Show marketing remark (351 chars)

    WHY PAY RENT, WHEN YOU CAN BUY? 1 BEDROOM AND 1 FULL BATH WITH OVER 700 SQ FT CONDO. LOWER LEVEL. SHARED BASEMENT PROVIDES ONSITE LAUNDRY. HOA COVERS GAS, HEAT, CONDO LIVING MAINTENANCE FREE. NEED HELP FINANCING. SELLER OFFERING LAND CONTRACT TERMS. GOOD OR BAD CREDIT UTILIZE SELLER FINANCING TO OWN YOUR OWN PROPERTY. EZ SHOWINGS. AS IS SALE. BATVAI

19. 2025-12-25
    status Pending

    Show marketing remark (351 chars)

    WHY PAY RENT, WHEN YOU CAN BUY? 1 BEDROOM AND 1 FULL BATH WITH OVER 700 SQ FT CONDO. LOWER LEVEL. SHARED BASEMENT PROVIDES ONSITE LAUNDRY. HOA COVERS GAS, HEAT, CONDO LIVING MAINTENANCE FREE. NEED HELP FINANCING. SELLER OFFERING LAND CONTRACT TERMS. GOOD OR BAD CREDIT UTILIZE SELLER FINANCING TO OWN YOUR OWN PROPERTY. EZ SHOWINGS. AS IS SALE. BATVAI

20. 2025-12-10
    listed $59,900 Active

    Show marketing remark (351 chars)

    WHY PAY RENT, WHEN YOU CAN BUY? 1 BEDROOM AND 1 FULL BATH WITH OVER 700 SQ FT CONDO. LOWER LEVEL. SHARED BASEMENT PROVIDES ONSITE LAUNDRY. HOA COVERS GAS, HEAT, CONDO LIVING MAINTENANCE FREE. NEED HELP FINANCING. SELLER OFFERING LAND CONTRACT TERMS. GOOD OR BAD CREDIT UTILIZE SELLER FINANCING TO OWN YOUR OWN PROPERTY. EZ SHOWINGS. AS IS SALE. BATVAI

21. 2025-12-10
    listed $59,900 Active

    Show marketing remark (351 chars)

    WHY PAY RENT, WHEN YOU CAN BUY? 1 BEDROOM AND 1 FULL BATH WITH OVER 700 SQ FT CONDO. LOWER LEVEL. SHARED BASEMENT PROVIDES ONSITE LAUNDRY. HOA COVERS GAS, HEAT, CONDO LIVING MAINTENANCE FREE. NEED HELP FINANCING. SELLER OFFERING LAND CONTRACT TERMS. GOOD OR BAD CREDIT UTILIZE SELLER FINANCING TO OWN YOUR OWN PROPERTY. EZ SHOWINGS. AS IS SALE. BATVAI

22. 2024-04-11
    soldstatus $51,000
23. 2024-03-19
    listed $49,000
24. 2023-09-08
    soldstatus $55,000 Sold
25. 2023-08-17
    status Pending
26. 2023-07-31
    price $57,900
27. 2023-06-30
    listed $59,900 Active
28. 2020-12-04
    soldstatus $53,000 Sold
29. 2020-12-04
    soldstatus $53,000 Closed
30. 2020-11-23
    status Pending
31. 2020-11-23
    status Pending
32. 2020-10-17
    price $59,700
33. 2020-10-16
    price $59,700
34. 2020-10-02
    listed $69,700 Active
35. 2020-10-02
    listed $69,700 Active
36. 2008-11-28
    historical
37. 2008-02-15
    listed $17,100
38. 2008-02-14
    historical
39. 2007-10-03
    listed $22,500
40. 2007-09-21
    historical
41. 2007-05-24
    listed $25,900
42. 2007-05-22
    historical
43. 2007-01-18
    listed $37,900
44. 1997-05-27
    historical
45. 1997-02-26
    listed $34,900
46. 1997-02-24
    historical
47. 1997-01-24
    listed $37,900

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

Taxation est. · year 1

• Rental income: $13,726
• − Mortgage interest: −$3,355
• − Property taxes: −$898
• − Insurance: −$300
• − Repairs & maintenance: −$1,098
• − Management: −$1,098
• − HOA: −$3,888
• − Depreciation: −$1,743
• Taxable income: $1,346
• Est. tax owed @ 24.0%: −$323
• After-tax cash flow: $1,665/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.

Condition & rehab AI · 9 photos

Average 55/100 Cosmetic rehab

This condo is in average condition with some cosmetic updates needed, particularly in the kitchen and bathroom. A renovation of these areas would significantly increase its value.

Repairs flagged

• Moderate kitchen cabinets — dated and in need of updating
• Moderate kitchen countertops — dated and in need of updating
• Moderate kitchen appliances — dated and in need of updating
• Moderate bathroom vanity — dated and in need of updating
• Moderate bathroom fixtures — dated and in need of updating

Value-add opportunities

• Both kitchen renovation — modernizing the kitchen can significantly increase both resale and rental value
• Both bathroom renovation — modernizing the bathroom can significantly increase both resale and rental value
• Both HVAC upgrade — upgrading the HVAC system can improve comfort and energy efficiency, increasing both resale and rental value

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen cabinets · dated and in need of updating	Moderate	$3,000–15,000
kitchen countertops · dated and in need of updating	Moderate	$3,000–15,000
kitchen appliances · dated and in need of updating	Moderate	$3,000–15,000
bathroom vanity · dated and in need of updating	Moderate	$3,000–15,000
bathroom fixtures · dated and in need of updating	Moderate	$3,000–15,000
Total estimated repair cost · 5 items		$15,000–75,000

Value-add ROI direction

• Both kitchen renovation — modernizing the kitchen can significantly increase both resale and rental value ↑
• Both bathroom renovation — modernizing the bathroom can significantly increase both resale and rental value ↑
• Both HVAC upgrade — upgrading the HVAC system can improve comfort and energy efficiency, increasing both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: South Redford School District
• NCES district ID: 2632280
• Math proficiency: 11% ▼ -9.00%
• Reading proficiency: 29% ▼ -7.00%
• Median HH income: $52,775
• Composite: 18.1/100
• National rank: #8972
• State rank: #455 of 540 in MI

Livability — Redford

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Wayne County · 1,562,939 people
• City population: 36,976
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 36,976
• Household income: $71,151
• Rent vs Own: 21.1% rent · 78.9% own
• Severe rent burden: 1052.0

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: Majority Black (58%)
• Race & ethnicity: Black 58% White 34% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Romanian 7% Slovak 2% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 96% English-only · Spanish 1% Other Indo-European 1% Arabic 1%

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: ▼ -202.97%
• Current HPI: 236.1136
• Rent YoY: ▲ 3.25%
• 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

+58.0% since first listed

34 events — show timeline

• 2026-05-12 Listed $59,900 REALCOMP
• 2026-05-12 Listed $59,900 MiRealSource-MiMLS
• 2025-12-31 Sold (MLS) $59,500 REALCOMP
• 2025-12-31 Sold (MLS) $59,500 MiRealSource-MiMLS
• 2025-12-25 Pending — MiRealSource-MiMLS
• 2025-12-25 Pending — REALCOMP
• 2025-12-10 Listed $59,900 REALCOMP
• 2025-12-10 Listed $59,900 MiRealSource-MiMLS
• 2024-04-11 Sold (MLS) $51,000 REALCOMP
• 2024-03-19 Listed $49,000 REALCOMP
• 2023-09-08 Sold (MLS) $55,000 REALCOMP
• 2023-08-17 Pending — REALCOMP
• 2023-07-31 Price Changed $57,900 REALCOMP
• 2023-06-30 Listed $59,900 REALCOMP
• 2020-12-04 Sold (MLS) $53,000 MiRealSource-MiMLS
• 2020-12-04 Sold (MLS) $53,000 REALCOMP
• 2020-11-23 Pending — MiRealSource-MiMLS
• 2020-11-23 Pending — REALCOMP
• 2020-10-17 Price Changed $59,700 MiRealSource-MiMLS
• 2020-10-16 Price Changed $59,700 REALCOMP
• 2020-10-02 Listed $69,700 MiRealSource-MiMLS
• 2020-10-02 Listed $69,700 REALCOMP
• 2008-11-28 Listing Removed — MiRealSource-MiMLS
• 2008-02-15 Listed $17,100 MiRealSource-MiMLS
• 2008-02-14 Listing Removed — MiRealSource-MiMLS
• 2007-10-03 Listed $22,500 MiRealSource-MiMLS
• 2007-09-21 Listing Removed — MiRealSource-MiMLS
• 2007-05-24 Listed $25,900 MiRealSource-MiMLS
• 2007-05-22 Listing Removed — MiRealSource-MiMLS
• 2007-01-18 Listed $37,900 MiRealSource-MiMLS
• 1997-05-27 Listing Removed — REALCOMP
• 1997-02-26 Listed $34,900 REALCOMP
• 1997-02-24 Listing Removed — REALCOMP
• 1997-01-24 Listed $37,900 REALCOMP