6011 Joy Rd · Detroit, MI 48204

$79,900

1 bd · 1.0 ba · 438 sqft · SingleFamily public records · 8 Days on market

Built 1929 871 sqft lot Est $65k · 23% over

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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 +21.7/30.0
• Appreciation +10.0/10.0
• DSCR +6.9/10.0
• 1% rule +5.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

Discover a truly unique opportunity, a beautifully renovated studio space designed for those who think differently. Whether you're seeking an inspiring live/work environment, an artist's loft, photography studio, or gallery, this versatile property offers endless possibilities. Thoughtfully updated with modern finishes while maintaining an open, flexible layout, the space is flooded with potential for entrepreneurs and creatives of all kinds. The adaptable floor plan allows for comfortable living accommodations, professional workspace, or a seamless combination of both. Located on a highly visible corridor with easy access to major thoroughfares, this mixed-use opportunity provides the freedom to create, work, and thrive under one roof. If you've been searching for a property that breaks away from the ordinary and supports your creative vision, 6011 Joy Rd is ready to bring your ideas to life. A rare chance to own a turnkey studio with nothing but space and opportunity.

Key facts

• Gallery
• Modern finishes
• Artist loft

Tags

• RENOVATED STUDIO SPACE
• LIVE WORK ENVIRONMENT
• ARTIST LOFT
• PHOTOGRAPHY STUDIO
• GALLERY
• MODERN FINISHES

Property features AI

Finance

• Other: Located in the Dailey Park Subdivision; Directions: East of Livernois, west of Jeffries Fwy, north of Tireman; cross streets Livernois and Joy Rd
• Financial info: Annual tax information available

Exterior

• Parking: No garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story with ground-level entry
• Construction: Brick construction; Slab foundation; 438 above-grade finished square feet
• Exterior features: Paved road access; Lot approximately 0.02 acres (33 x 31)

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heating; No central air conditioning
• Interior features: Total of 3 rooms

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $123 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($859 rent vs $80k).
• Cap rate 8.1% vs local median 10.2% in Detroit — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

Location & tenants

• Location reads 73/100 on livability (#218 in MI) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, cost of living A+; Watch: schools F, crime F, employment F.
• Detroit Public Schools Community District (urban): math 10% / reading 24% proficiency, ranked #499 of 540 in MI (top 92%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 90% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: 244 active listings in the ZIP; lower-income renter base — watch delinquency; 2,639 units permitted in Wayne County in 2024 (1,216 in 5+ unit buildings).

Forward outlook

• In year one you build about $9k of equity ($552 loan paydown + $8k appreciation (10.0% local appreciation)).
• Wayne County population projected at -17% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 2y 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.
• Current owner paid $65k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $79,900

Questions for the listing agent

1. Built in 1929 — 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 F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. 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.
6. 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.
7. 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: 1.07% ✓
• Cap rate: 8.13%
• Cash-on-cash: 6.57%
• DSCR: 1.29
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $64,824
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6011 Joy Rd	0.00mi	1/1.0	438 (0%)	21mo	$65,000	$148	83

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 29.1%
• Equity multiple: 3.29×
• Total profit: $51,337
• Equity at exit: $71,980

10-year hold

• IRR: 25.3%
• Equity multiple: 7.48×
• Total profit: $145,071
• Equity at exit: $155,228

Cash invested: $22,372 (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 48204

• Home prices YoY: 18.5%
• Active inventory: 244
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $859 medium
• Mortgage (P&I): −$419
• Tax from tax record: −$103 /mo · $1,241/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$180
• Net cashflow: $123

Break-even live

Break-even rent $703

Max offer price $79,900

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-06-18
   days on market $79,900 Active 8 DOM
2. 2026-06-17
   days on market $79,900 Active 7 DOM
3. 2026-06-16
   days on market $79,900 Active 6 DOM
4. 2026-06-15
   days on market $79,900 Active 5 DOM
5. 2026-06-13
   days on market $79,900 Active 3 DOM
6. 2026-06-13
   remarks 699-char remark
7. 2026-06-13
   listed $79,900 Active 2 DOM

ⓘ 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: $1,241 · $103/mo
• Projected year-2 tax: $1,241 · $103/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 68% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 4/10 Moderate 4 unhealthy d/yr today · 6 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,303
• − Mortgage interest: −$4,476
• − Property taxes: −$1,241
• − Insurance: −$400
• − Repairs & maintenance: −$824
• − Management: −$824
• − Depreciation: −$2,324
• Taxable income: $214
• Est. tax owed @ 24.0%: −$51
• After-tax cash flow: $1,419/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: Detroit Public Schools Community District
• NCES district ID: 2601103
• Math proficiency: 10% ▼ -2.00%
• Reading proficiency: 24% ▲ 6.00%
• Median HH income: $25,815
• Composite: 13.06/100
• National rank: #9564
• State rank: #499 of 540 in MI

Livability — Detroit

• Score: 73/100
• State rank: #218
• US rank: #5427

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Detroit, MI
• County: Wayne County · 1,562,939 people
• City population: 572,865
• Metro: Detroit-Warren-Dearborn, MI
• Population (ZIP): 20,696
• Household income: $34,468
• Rent vs Own: 45.0% rent · 55.0% own
• Severe rent burden: 1418.0

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 Black (86%)
• Race & ethnicity: Black 86% Two or more races 7% Hispanic / Latino 5% White 4% Native American 2%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Hispanic 1% Romanian 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Spanish 4%

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: ▲ 36.51%
• Current HPI: 234.0465
• 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

+1498.0% since first listed

13 events — show timeline

• 2026-06-10 Listed $79,900 REALCOMP
• 2026-06-10 Listed $79,900 MiRealSource-MiMLS
• 2024-10-02 Sold (Public Records) $65,000 Public Records
• 2024-09-30 Sold (MLS) $65,000 SW Michigan MLS
• 2024-09-30 Sold (MLS) $65,000 MiRealSource-MiMLS
• 2024-09-30 Sold (MLS) $65,000 REALCOMP
• 2024-07-30 Pending — REALCOMP
• 2024-07-30 Pending — MiRealSource-MiMLS
• 2024-07-30 Pending — SW Michigan MLS
• 2024-07-18 Listed $69,900 SW Michigan MLS
• 2024-07-18 Listed $69,900 MiRealSource-MiMLS
• 2024-07-18 Listed $69,900 REALCOMP
• 1992-11-04 Sold (Public Records) $5,000 Public Records

Property tax history

+21.8%/yr

Latest (2025): $1,241 · +109.7% YoY. Source: county tax records.