707 S Eaton St · Albion, MI 49224

$23,500

3 bd · 1.0 ba · 1,236 sqft · SingleFamily public records · 67 Days on market

Built 1920 8,233 sqft lot $19/sqft · 80% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

This high-potential rehab project is the perfect value-add opportunity for those looking to flip, rent, or build equity. Featuring a solid layout ready for a full reimagining, this property offers significant ARV upside in an established neighborhood with easy access to local amenities. Whether you're eyeing long-term cash flow or a quick resale, this is the canvas seasoned investors search for. Sold as-is. Property requires extensive repairs. Enter at your own risk. Don't miss this chance to unlock serious equity in Calhoun County!

Key facts

• 8,233 sq ft lot
• Built 1920
• Listed 66 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $24k.

Deal economics

• At list price, monthly cash flow is $534 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($895 rent vs $24k).
• Recommended offer: $22k (6.0% below list) — sets the bar for market timing.
• Cap rate 33.5% vs local median 8.6% 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+, 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; 1 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 $162 of loan paydown is wiped out by about $705 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 $7k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 8y ago; this cycle's ask has dropped $6k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $22,090 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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: 3.81% ✓
• Cap rate: 33.54%
• Cash-on-cash: 97.30%
• DSCR: 5.33
• GRM: 2.2

CMA / ARV

• ARV (median comp): $119,796
• List price: $23,500
• Delta: -80.38%
• 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
108 W Walnut St	0.10mi	3/1.0	1,296 (+5%)	11mo	$140,000	$108	78
117 E Walnut St	0.19mi	2/1.0 (-1)	1,200 (-3%)	7mo	$134,900	$112	76
806 S Eaton St	0.05mi	4/2.0 (+1)	1,166 (-6%)	7mo	$95,000	$81	73
508 Linden Ave	0.45mi	3/1.0	1,300 (+5%)	6mo	$135,000	$104	66
711 Orchard	0.46mi	3/1.0	1,122 (-9%)	3mo	$65,000	$58	61
112 River St	0.20mi	4/2.0 (+1)	1,337 (+8%)	13mo	$149,900	$112	57
412 Perry St	0.56mi	3/1.5	1,298 (+5%)	15mo	$119,900	$92	51
405 Crandall St	0.30mi	4/1.5 (+1)	1,344 (+9%)	23mo	$116,000	$86	46
316 Perry St	0.51mi	3/2.0	1,115 (-10%)	12mo	$72,500	$65	45
107 S Berrien St	0.49mi	3/2.0	1,148 (-7%)	24mo	$175,000	$152	41
315 E Cass St	0.49mi	3/2.0	1,387 (+12%)	19mo	$165,000	$119	37
511 Perry St	0.64mi	4/2.0 (+1)	1,416 (+15%)	10mo	$221,000	$156	28

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: 98.3%
• Equity multiple: 5.59×
• Total profit: $30,192
• Equity at exit: $3,504

10-year hold

• IRR: —
• Equity multiple: 11.66×
• Total profit: $70,127
• Equity at exit: $2,032

Cash invested: $6,580 (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: 2.2×

Monthly cashflow live

• Estimated rent: $895 medium
• Mortgage (P&I): −$123
• Tax from tax record: −$41 /mo · $486/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$188
• Net cashflow: $534

Break-even live

Break-even rent $220

Max offer price $23,500

Occupancy floor 35%

Sensitivity live

Price	-10% $547	-5% $540	+0% $534	+5% $527	+10% $520
Rent	-10% $463	-5% $498	+0% $534	+5% $569	+10% $604
Rate	-1.0pp $545	-0.5pp $539	base $534	+0.5pp $527	+1.0pp $521

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: $5,875
• Closing costs: $705
• Reserves months: —
• Total cash needed: —

Rent comps 1 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	1.05mi

Listing history 28 events

1. 2026-06-19
   days on market $23,500 Active 67 DOM
2. 2026-06-18
   days on market $23,500 Active 66 DOM
3. 2026-06-17
   days on market $23,500 Active 65 DOM
4. 2026-06-16
   days on market $23,500 Active 64 DOM
5. 2026-06-15
   days on market $23,500 Active 63 DOM
6. 2026-06-14
   days on market $23,500 Active 61 DOM
7. 2026-06-13
   days on market $23,500 Active 60 DOM
8. 2026-06-10
   days on market $23,500 Active 58 DOM
9. 2026-06-09
   days on market $23,500 Active 57 DOM
10. 2026-06-08
    days on market $23,500 Active 56 DOM
11. 2026-06-07
    days on market $23,500 Active 55 DOM
12. 2026-06-05
    pricedays on market $23,500 Active 52 DOM
13. 2026-06-03
    days on market $25,000 Active 51 DOM
14. 2026-06-02
    days on market $25,000 Active 50 DOM
15. 2026-06-01
    days on market $25,000 Active 49 DOM
16. 2026-05-31
    days on market $25,000 Active 48 DOM
17. 2026-05-30
    days on market $25,000 Active 47 DOM
18. 2026-05-12
    price $25,000 538-char remark

    Show marketing remark (538 chars)

    This high-potential rehab project is the perfect value-add opportunity for those looking to flip, rent, or build equity. Featuring a solid layout ready for a full reimagining, this property offers significant ARV upside in an established neighborhood with easy access to local amenities. Whether you're eyeing long-term cash flow or a quick resale, this is the canvas seasoned investors search for. Sold as-is. Property requires extensive repairs. Enter at your own risk. Don't miss this chance to unlock serious equity in Calhoun County!

19. 2026-05-11
    price $25,000 538-char remark

    Show marketing remark (538 chars)

    This high-potential rehab project is the perfect value-add opportunity for those looking to flip, rent, or build equity. Featuring a solid layout ready for a full reimagining, this property offers significant ARV upside in an established neighborhood with easy access to local amenities. Whether you're eyeing long-term cash flow or a quick resale, this is the canvas seasoned investors search for. Sold as-is. Property requires extensive repairs. Enter at your own risk. Don't miss this chance to unlock serious equity in Calhoun County!

20. 2026-05-11
    price $25,000

    Show marketing remark (538 chars)

    This high-potential rehab project is the perfect value-add opportunity for those looking to flip, rent, or build equity. Featuring a solid layout ready for a full reimagining, this property offers significant ARV upside in an established neighborhood with easy access to local amenities. Whether you're eyeing long-term cash flow or a quick resale, this is the canvas seasoned investors search for. Sold as-is. Property requires extensive repairs. Enter at your own risk. Don't miss this chance to unlock serious equity in Calhoun County!

21. 2026-04-13
    listed $30,000 Active 538-char remark

    Show marketing remark (538 chars)

    This high-potential rehab project is the perfect value-add opportunity for those looking to flip, rent, or build equity. Featuring a solid layout ready for a full reimagining, this property offers significant ARV upside in an established neighborhood with easy access to local amenities. Whether you're eyeing long-term cash flow or a quick resale, this is the canvas seasoned investors search for. Sold as-is. Property requires extensive repairs. Enter at your own risk. Don't miss this chance to unlock serious equity in Calhoun County!

22. 2026-04-13
    listed $30,000 Active 538-char remark

    Show marketing remark (538 chars)

    This high-potential rehab project is the perfect value-add opportunity for those looking to flip, rent, or build equity. Featuring a solid layout ready for a full reimagining, this property offers significant ARV upside in an established neighborhood with easy access to local amenities. Whether you're eyeing long-term cash flow or a quick resale, this is the canvas seasoned investors search for. Sold as-is. Property requires extensive repairs. Enter at your own risk. Don't miss this chance to unlock serious equity in Calhoun County!

23. 2026-04-13
    listed $30,000 Active

    Show marketing remark (538 chars)

    This high-potential rehab project is the perfect value-add opportunity for those looking to flip, rent, or build equity. Featuring a solid layout ready for a full reimagining, this property offers significant ARV upside in an established neighborhood with easy access to local amenities. Whether you're eyeing long-term cash flow or a quick resale, this is the canvas seasoned investors search for. Sold as-is. Property requires extensive repairs. Enter at your own risk. Don't miss this chance to unlock serious equity in Calhoun County!

24. 2018-08-13
    historical
25. 2018-08-13
    historical
26. 2018-08-07
    listed $10,000
27. 2018-08-07
    listed $10,000 Active
28. 2018-08-07
    listed $10,000

ⓘ 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: $486 · $41/mo
• Projected year-2 tax: $486 · $41/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 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: $10,740
• − Mortgage interest: −$1,316
• − Property taxes: −$486
• − Insurance: −$118
• − Repairs & maintenance: −$859
• − Management: −$859
• − Depreciation: −$684
• Taxable income: $6,418
• Est. tax owed @ 24.0%: −$1,540
• After-tax cash flow: $4,862/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

+150.0% since first listed

11 events — show timeline

• 2026-05-12 Price Changed $25,000 MiRealSource-MiMLS
• 2026-05-11 Price Changed $25,000 REALCOMP
• 2026-05-11 Price Changed $25,000 SW Michigan MLS
• 2026-04-13 Listed $30,000 REALCOMP
• 2026-04-13 Listed $30,000 SW Michigan MLS
• 2026-04-13 Listed $30,000 MiRealSource-MiMLS
• 2018-08-13 Listing Removed — MiRealSource-MiMLS
• 2018-08-13 Listing Removed — SW Michigan MLS
• 2018-08-07 Listed $10,000 MiRealSource-MiMLS
• 2018-08-07 Listed $10,000 SW Michigan MLS
• 2018-08-07 Listed $10,000 REALCOMP

Property tax history

-9.9%/yr

Latest (2025): $486 · -50.5% YoY. Source: county tax records.