711 N Eaton St · Albion, MI 49224

$87,000

3 bd · 2.0 ba · 1,248 sqft · SingleFamily public records · 392 Days on market

Built 1914 7,405 sqft lot $70/sqft · 25% below area Est $142k · 39% under

---

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 +29.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.0/10.0
• 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

Story-and-a-half home in Albion, located close to downtown, shopping, and I-94. This 3-bedroom, 2-full-bath property includes a living room and a dining area off the kitchen. Previously used as a duplex with an upper-level apartment, this home offers flexibility and the opportunity to make it your own.

Key facts

• Living room
• Dining area
• Shopping

Tags

• CLOSE TO DOWNTOWN
• SHOPPING
• I-94
• LIVING ROOM
• DINING AREA

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $87k.

Deal economics

• At list price, monthly cash flow is $297 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $87k).
• Recommended offer: $77k (12.0% below list) — sets the bar for market timing.
• Cap rate 10.4% vs local median 8.6% in Albion — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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+, schools 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.
• Market conditions: 134 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $601 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 $24k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 392 days — a 12% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y ago; this cycle's ask has dropped $8k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $76,560 (12.0% below list)

Questions for the listing agent

1. It's been on market 392 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1914 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.20% ✓
• Cap rate: 10.38%
• Cash-on-cash: 14.61%
• DSCR: 1.65
• GRM: 6.9

CMA / ARV

• ARV (median comp): $142,132
• List price: $87,000
• Delta: -38.79%
• 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
806 N Eaton St	0.10mi	3/1.0	1,248 (0%)	3mo	$125,000	$100	89
512 Austin Ave	0.24mi	4/1.5 (+1)	1,344 (+8%)	1mo	$95,000	$71	68
706 N Monroe St	0.34mi	3/2.5	1,416 (+14%)	3mo	$25,000	$18	57
515 Maple Rdg	0.56mi	4/1.5 (+1)	1,242 (-0%)	10mo	$160,000	$129	57
604 Burr Oak St	0.69mi	3/1.0	1,304 (+4%)	2mo	$105,000	$81	54
810 N Superior St	0.20mi	2/1.0 (-1)	1,104 (-12%)	11mo	$94,900	$86	53
412 Perry St	0.55mi	3/1.5	1,298 (+4%)	15mo	$119,900	$92	53
316 Perry St	0.50mi	3/2.0	1,115 (-11%)	12mo	$72,500	$65	49
108 W Walnut St	0.69mi	3/1.0	1,296 (+4%)	11mo	$140,000	$108	48
117 E Walnut St	0.71mi	2/1.0 (-1)	1,200 (-4%)	7mo	$134,900	$112	46
511 Perry St	0.61mi	4/2.0 (+1)	1,416 (+14%)	10mo	$221,000	$156	36
1008 Maple St	0.61mi	3/1.0	1,088 (-13%)	14mo	$167,000	$153	35

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: 5.0%
• Equity multiple: 1.20×
• Total profit: $4,765
• Equity at exit: $12,972

10-year hold

• IRR: 14.5%
• Equity multiple: 2.16×
• Total profit: $28,360
• Equity at exit: $7,522

Cash invested: $24,360 (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: 134
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,046 medium
• Mortgage (P&I): −$456
• Tax from tax record: −$37 /mo · $445/yr
• Insurance: −$36
• HOA: −$0
• Vacancy / Maint / Mgmt: −$220
• Net cashflow: $297

Break-even live

Break-even rent $670

Max offer price $87,000

Occupancy floor 67%

Sensitivity live

Price	-10% $346	-5% $321	+0% $297	+5% $272	+10% $247
Rent	-10% $214	-5% $255	+0% $297	+5% $338	+10% $379
Rate	-1.0pp $340	-0.5pp $319	base $297	+0.5pp $274	+1.0pp $251

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: $21,750
• Closing costs: $2,610
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
313 E North St Albion, MI	2.0	1.0	820	$895	$1.09	44d	1	0.43mi
1200 Westover Blvd Albion, MI	3.0–4.0	2.0	1456	$1,379	$0.95	44d	4	1.23mi

Listing history 12 events

1. 2026-05-06
   price $87,000 303-char remark

   Show marketing remark (303 chars)

   Story-and-a-half home in Albion, located close to downtown, shopping, and I-94. This 3-bedroom, 2-full-bath property includes a living room and a dining area off the kitchen. Previously used as a duplex with an upper-level apartment, this home offers flexibility and the opportunity to make it your own.

2. 2026-05-05
   price $87,000 303-char remark

   Show marketing remark (303 chars)

   Story-and-a-half home in Albion, located close to downtown, shopping, and I-94. This 3-bedroom, 2-full-bath property includes a living room and a dining area off the kitchen. Previously used as a duplex with an upper-level apartment, this home offers flexibility and the opportunity to make it your own.

3. 2026-05-05
   price $87,000

   Show marketing remark (303 chars)

   Story-and-a-half home in Albion, located close to downtown, shopping, and I-94. This 3-bedroom, 2-full-bath property includes a living room and a dining area off the kitchen. Previously used as a duplex with an upper-level apartment, this home offers flexibility and the opportunity to make it your own.

4. 2025-04-30
   listed $95,000 Active 303-char remark

   Show marketing remark (303 chars)

   Story-and-a-half home in Albion, located close to downtown, shopping, and I-94. This 3-bedroom, 2-full-bath property includes a living room and a dining area off the kitchen. Previously used as a duplex with an upper-level apartment, this home offers flexibility and the opportunity to make it your own.

5. 2025-04-30
   listed $95,000 Active 303-char remark

   Show marketing remark (303 chars)

   Story-and-a-half home in Albion, located close to downtown, shopping, and I-94. This 3-bedroom, 2-full-bath property includes a living room and a dining area off the kitchen. Previously used as a duplex with an upper-level apartment, this home offers flexibility and the opportunity to make it your own.

6. 2025-04-30
   listed $95,000 Active

   Show marketing remark (303 chars)

   Story-and-a-half home in Albion, located close to downtown, shopping, and I-94. This 3-bedroom, 2-full-bath property includes a living room and a dining area off the kitchen. Previously used as a duplex with an upper-level apartment, this home offers flexibility and the opportunity to make it your own.

7. 2022-04-05
   historical
8. 2022-04-05
   historical
9. 2022-04-05
   historical
10. 2021-10-04
    listed $54,000 Active
11. 2021-10-04
    listed $54,000 Active
12. 2021-10-04
    listed $54,000 Active

ⓘ 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: $445 · $37/mo
• Projected year-2 tax: $892 · $74/mo
• Expected delta: +$448/yr (+$37/mo · 100.7%)

ⓘ 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 2/10 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: $12,549
• − Mortgage interest: −$4,873
• − Property taxes: −$445
• − Insurance: −$435
• − Repairs & maintenance: −$1,004
• − Management: −$1,004
• − Depreciation: −$2,531
• Taxable income: $2,257
• Est. tax owed @ 24.0%: −$542
• After-tax cash flow: $3,018/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

+61.1% since first listed

12 events — show timeline

• 2026-05-06 Price Changed $87,000 MiRealSource-MiMLS
• 2026-05-05 Price Changed $87,000 REALCOMP
• 2026-05-05 Price Changed $87,000 SW Michigan MLS
• 2025-04-30 Listed $95,000 REALCOMP
• 2025-04-30 Listed $95,000 SW Michigan MLS
• 2025-04-30 Listed $95,000 MiRealSource-MiMLS
• 2022-04-05 Listing Removed — REALCOMP
• 2022-04-05 Listing Removed — SW Michigan MLS
• 2022-04-05 Listing Removed — MiRealSource-MiMLS
• 2021-10-04 Listed $54,000 MiRealSource-MiMLS
• 2021-10-04 Listed $54,000 SW Michigan MLS
• 2021-10-04 Listed $54,000 REALCOMP

Property tax history

-3.8%/yr

Latest (2025): $445 · -32.6% YoY. Source: county tax records.