604 Bidwell St · Albion, MI 49224

$95,000

3 bd · 1.0 ba · 1,344 sqft · SingleFamily public records · 40 Days on market

Built 1910 6,752 sqft lot $71/sqft · 27% below area Est $130k · 27% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• Livability +3.5/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 BED 1.5 BATH LOCATED DOWNTOWN ALBION. CLOSE TO EVERYTHING. GREAT INVESTMENT WITH YOU TLC TOUCHES. OR COULD BE YOUR FOREVER HOME. CALL TODAY

Key facts

• 6,752 sq ft lot
• Built 1910
• Listed 40 days

Property features AI

Exterior

• Utilities: Public water; Natural gas connected
• Home design: Traditional single-family residence; Built in 1910
• Construction: Wood siding; Composition roof
• Exterior features: Sidewalk; Shed(s); Paved road access

Interior

• Kitchen: Kitchen (12 x 12)
• Bedrooms: Primary bedroom (15 x 10); Bedroom 2 (11 x 10); Bedroom 3 (8 x 9)
• Bathrooms: 1 full bathroom; 2 half bathrooms
• Heating & cooling: Forced air heating
• Interior features: Seven total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $467 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.2% vs local median 8.5% in Albion — 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 70/100 on livability (#328 in MI) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: commute C-, amenities D+, crime F.
• Marshall Public Schools (town): math 28% / reading 44% proficiency, ranked #268 of 540 in MI (top 50%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Marshall Middle School (math 22% / reading 40%, grade F, #329 of 493 statewide, top 67%, 547 students, 50% FRL).
• Market conditions: 137 active listings in the ZIP; 132 units permitted in Calhoun County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $657 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Calhoun County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $27k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 40 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 20y 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 $68k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 40 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 1910 — 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 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?
5. 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?
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: 1.44% ✓
• Cap rate: 12.19%
• Cash-on-cash: 21.05%
• DSCR: 1.94
• GRM: 5.8

CMA / ARV

• ARV (median comp): $129,836
• List price: $95,000
• Delta: -26.83%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
604 Burr Oak St	0.11mi	3/1.0	1,304 (-3%)	2mo	$105,000	$81	88
310 Fitch St	0.21mi	3/1.5	1,232 (-8%)	4mo	$200,000	$162	71
706 N Monroe St	0.25mi	3/2.5	1,416 (+5%)	3mo	$25,000	$18	71
1302 Barnes St	0.38mi	3/2.0	1,360 (+1%)	9mo	$176,000	$129	69
508 Linden Ave	0.57mi	3/1.0	1,300 (-3%)	6mo	$135,000	$104	63
806 N Eaton St	0.59mi	3/1.0	1,248 (-7%)	3mo	$125,000	$100	58
415 E Cass St	0.29mi	3/2.0	1,494 (+11%)	9mo	$179,000	$120	56
305 S Mingo St	0.49mi	3/1.0	1,176 (-12%)	3mo	$160,000	$136	54
502 Lombard St	0.37mi	3/1.0	1,170 (-13%)	9mo	$166,000	$142	54
105 S Eaton St	0.63mi	3/2.0	1,440 (+7%)	8mo	$36,000	$25	48
614 N Ann St	0.69mi	3/1.5	1,500 (+12%)	4mo	$89,000	$59	43
117 E Walnut St	0.68mi	2/1.0 (-1)	1,200 (-11%)	7mo	$134,900	$112	40

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: 13.5%
• Equity multiple: 1.54×
• Total profit: $14,316
• Equity at exit: $14,165

10-year hold

• IRR: 22.3%
• Equity multiple: 2.91×
• Total profit: $50,702
• Equity at exit: $8,214

Cash invested: $26,600 (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 49224

• Home prices YoY: -24.9%
• Active inventory: 137
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,364 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$73 /mo · $875/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $467

Break-even live

Break-even rent $773

Max offer price $95,000

Occupancy floor 61%

Sensitivity live

Price	-10% $520	-5% $493	+0% $467	+5% $440	+10% $413
Rent	-10% $359	-5% $413	+0% $467	+5% $520	+10% $574
Rate	-1.0pp $514	-0.5pp $491	base $467	+0.5pp $442	+1.0pp $417

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Listing history 33 events

1. 2026-06-22
   days on market $95,000 Active 40 DOM
2. 2026-06-19
   days on market $95,000 Active 38 DOM
3. 2026-06-18
   days on market $95,000 Active 37 DOM
4. 2026-06-17
   days on market $95,000 Active 36 DOM
5. 2026-06-16
   days on market $95,000 Active 35 DOM
6. 2026-06-15
   days on market $95,000 Active 34 DOM
7. 2026-06-14
   days on market $95,000 Active 32 DOM
8. 2026-06-13
   days on market $95,000 Active 31 DOM
9. 2026-06-10
   days on market $95,000 Active 29 DOM
10. 2026-06-09
    days on market $95,000 Active 28 DOM
11. 2026-06-08
    days on market $95,000 Active 27 DOM
12. 2026-06-07
    days on market $95,000 Active 26 DOM
13. 2026-06-05
    days on market $95,000 Active 23 DOM
14. 2026-06-03
    days on market $95,000 Active 22 DOM
15. 2026-06-02
    days on market $95,000 Active 21 DOM
16. 2026-06-01
    days on market $95,000 Active 20 DOM
17. 2026-05-31
    days on market $95,000 Active 19 DOM
18. 2026-05-30
    days on market $95,000 Active 18 DOM
19. 2026-05-12
    listed $95,000 Active 142-char remark

    Show marketing remark (141 chars)

    3 BED 1.5 BATH LOCATED DOWNTOWN ALBION. CLOSE TO EVERYTHING. GREAT INVESTMENT WITH YOU TLC TOUCHES. OR COULD BE YOUR FOREVER HOME. CALL TODAY

20. 2026-05-12
    listed $95,000 Active 141-char remark

    Show marketing remark (141 chars)

    3 BED 1.5 BATH LOCATED DOWNTOWN ALBION. CLOSE TO EVERYTHING. GREAT INVESTMENT WITH YOU TLC TOUCHES. OR COULD BE YOUR FOREVER HOME. CALL TODAY

21. 2026-05-12
    listed $95,000 Active

    Show marketing remark (141 chars)

    3 BED 1.5 BATH LOCATED DOWNTOWN ALBION. CLOSE TO EVERYTHING. GREAT INVESTMENT WITH YOU TLC TOUCHES. OR COULD BE YOUR FOREVER HOME. CALL TODAY

22. 2018-08-01
    soldstatus $68,100
23. 2018-07-27
    soldstatus $68,000
24. 2018-07-27
    soldstatus $68,000
25. 2018-07-27
    listed $68,000
26. 2018-07-27
    listed $68,000
27. 2007-04-24
    soldstatus $65,000
28. 2007-04-05
    soldstatus $65,000
29. 2007-04-05
    soldstatus $65,000
30. 2007-04-05
    soldstatus $65,000
31. 2006-11-04
    listed $69,900
32. 2006-11-04
    listed $69,900
33. 2006-11-04
    listed $69,900

ⓘ 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: $875 · $73/mo
• Projected year-2 tax: $1,169 · $97/mo
• Expected delta: +$294/yr (+$25/mo · 33.6%)

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

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥97°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,363
• − Mortgage interest: −$5,321
• − Property taxes: −$875
• − Insurance: −$475
• − Repairs & maintenance: −$1,309
• − Management: −$1,309
• − Depreciation: −$2,764
• Taxable income: $4,311
• Est. tax owed @ 24.0%: −$1,035
• After-tax cash flow: $4,565/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: Marshall Public Schools
• NCES district ID: 2622970
• Math proficiency: 28% ▼ -4.00%
• Reading proficiency: 44% ▼ -2.00%
• Median HH income: $48,020
• Composite: 30.93/100
• National rank: #6112
• State rank: #268 of 540 in MI

Livability — Albion

• Score: 70/100
• State rank: #328
• US rank: #8096

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Albion, MI
• Population (ZIP): 13,309

Population outlook (Calhoun County) Hauer SSP2

• Today (2025): 130,157 people
• By 2030: 126,691 · -2.7%
• By 2040: 118,517 · -8.9%
• By 2050: 109,855 · -15.6%
• By 2075: 90,486 · -30.5%
• By 2100: 70,766 · -45.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (69%)
• Race & ethnicity: White 69% Black 20% Two or more races 6% Hispanic / Latino 5%
• Common ancestry: Romanian 3% Lithuanian 1% Iranian 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · Spanish 2% Arabic 1% German/W. Germanic 1%

Political lean MEDSL · Calhoun

• 2024 margin: R (+14.1) · D 42.3% · R 56.4% · Other 1.3%
• 2008→2024 swing: -23.4pp toward R · 2008: 9.4pp · 2024: -14.1pp
• All cycles: 2024: R+14.1 2020: R+11.1 2016: R+12.5 2012: D+1.6 2008: D+9.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -67.85%
• Current HPI: 205.078
• 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

+35.9% since first listed

15 events — show timeline

• 2026-05-12 Listed $95,000 MiRealSource-MiMLS
• 2026-05-12 Listed $95,000 REALCOMP
• 2026-05-12 Listed $95,000 SW Michigan MLS
• 2018-08-01 Sold (Public Records) $68,100 Public Records
• 2018-07-27 Listed $68,000 Greater Lansing AoR
• 2018-07-27 Listed $68,000 REALCOMP
• 2018-07-27 Sold (MLS) $68,000 Greater Lansing AoR
• 2018-07-27 Sold (MLS) $68,000 REALCOMP
• 2007-04-24 Sold (Public Records) $65,000 Public Records
• 2007-04-05 Sold (MLS) $65,000 MiRealSource-MiMLS
• 2007-04-05 Sold (MLS) $65,000 REALCOMP
• 2007-04-05 Sold (MLS) $65,000 SW Michigan MLS
• 2006-11-04 Listed $69,900 MiRealSource-MiMLS
• 2006-11-04 Listed $69,900 REALCOMP
• 2006-11-04 Listed $69,900 SW Michigan MLS

Property tax history

-3.8%/yr

Latest (2025): $875 · -32.6% YoY. Source: county tax records.