505 Bidwell St · Albion, MI 49224

$59,900

3 bd · 1.0 ba · 1,144 sqft · SingleFamily public records · 141 Days on market

Built 1920 Fair condition 3,049 sqft lot $52/sqft · 51% below area ↓ 14% since listing

---

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
• DSCR +10.0/10.0
• 1% rule +9.9/10.0
• ARV discount +7.5/15.0
• Livability +3.5/5.0
• Schools +3.0/10.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Opportunities are knocking with this handyman special located just steps from Albion College and within walking distance to the heart of downtown Albion! whether you're looking to expand your investment portfolio, create a rental for college students, or renovate and resell, this property offers incredible potential and a prime location. Featuring a solid structure and classic charm, this home is ready for your vision and updates. With its close proximity to campus, shops, dining, and local amenities, the after-repair value possibilities are strong. Ideal for investors, flippers, or buyers looking to build equity with some TLC. Don't miss your chance to transform this diamond in the rough into a standout property in a highly desirable area. Schedule your showing today, and bring your ideas to life!

Key facts

• Incredible potential
• Classic charm
• Solid structure

Tags

• PRIME LOCATION
• SOLID STRUCTURE
• CLASSIC CHARM
• CLOSE PROXIMITY TO CAMPUS
• WALKING DISTANCE TO DOWNTOWN
• INCREDIBLE POTENTIAL

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $60k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $324 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($895 rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.8% vs local median 8.1% 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: 158 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 $414 of loan paydown is wiped out by about $2k 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 $17k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 141 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $10k (14%) 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.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $52,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 141 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.49% ✓
• Cap rate: 12.78%
• Cash-on-cash: 23.15%
• DSCR: 2.03
• GRM: 5.6

CMA / ARV

• ARV (median comp): $122,762
• List price: $59,900
• Delta: -51.21%
• 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
600 Fitch St	0.19mi	3/1.0	1,186 (+4%)	1mo	$120,000	$101	84
310 Fitch St	0.21mi	3/1.5	1,232 (+8%)	5mo	$200,000	$162	71
305 S Mingo St	0.47mi	3/1.0	1,176 (+3%)	4mo	$160,000	$136	70
312 Fitch St	0.21mi	3/2.0	1,256 (+10%)	1mo	$215,000	$171	69
604 Burr Oak St	0.14mi	3/1.0	1,304 (+14%)	4mo	$105,000	$81	67
510 Maple Rdg	0.25mi	3/1.5	1,312 (+15%)	0mo	$168,500	$128	62
1306 Franklin Ave	0.53mi	3/1.0	1,049 (-8%)	3mo	$95,000	$91	59
806 N Eaton St	0.58mi	3/1.0	1,248 (+9%)	4mo	$125,000	$100	54
117 E Walnut St	0.64mi	2/1.0 (-1)	1,200 (+5%)	8mo	$134,900	$112	50
1018 Hall St	0.50mi	3/1.0	1,016 (-11%)	10mo	$167,000	$164	50
1018 Burr Oak St	0.53mi	2/1.0 (-1)	1,000 (-13%)	3mo	$109,000	$109	47
508 Linden Ave	0.54mi	3/1.0	1,300 (+14%)	8mo	$135,000	$104	46

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: 16.1%
• Equity multiple: 1.65×
• Total profit: $10,899
• Equity at exit: $8,931

10-year hold

• IRR: 24.7%
• Equity multiple: 3.15×
• Total profit: $36,008
• 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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 8 active · 14 under contract
• Months of supply: 3.4 mo (29%/mo absorbed)
• Median asking: $77,000 ($68/sqft)
• Median days on market: 82 d
• This list price: 38% of active listings are priced below it
• ARV vs active asking: +57.5% above current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 49224

• Home prices YoY: -24.9%
• Active inventory: 158
• Price-to-rent: 5.6×

Monthly cashflow live

• Estimated rent: $895 medium
• Mortgage (P&I): −$314
• Tax from tax record: −$44 /mo · $532/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$188
• Net cashflow: $324

Break-even live

Break-even rent $485

Max offer price $59,900

Occupancy floor 59%

Sensitivity live

Price	-10% $358	-5% $341	+0% $324	+5% $307	+10% $290
Rent	-10% $253	-5% $288	+0% $324	+5% $359	+10% $394
Rate	-1.0pp $354	-0.5pp $339	base $324	+0.5pp $308	+1.0pp $292

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
• Club membership (one-time): —
• 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	93d	1	0.42mi

Listing history 50 events

1. 2026-08-08
   days on market $59,900 Active 141 DOM
2. 2026-08-07
   days on market $59,900 Active 140 DOM
3. 2026-08-06
   days on market $59,900 Active 139 DOM
4. 2026-08-05
   days on market $59,900 Active 138 DOM
5. 2026-08-04
   days on market $59,900 Active 137 DOM
6. 2026-08-03
   days on market $59,900 Active 136 DOM
7. 2026-07-31
   days on market $59,900 Active 133 DOM
8. 2026-07-29
   days on market $59,900 Active 131 DOM
9. 2026-07-27
   days on market $59,900 Active 129 DOM
10. 2026-07-25
    days on market $59,900 Active 127 DOM
11. 2026-07-23
    days on market $59,900 Active 125 DOM
12. 2026-07-22
    days on market $59,900 Active 124 DOM
13. 2026-07-21
    days on market $59,900 Active 123 DOM
14. 2026-07-18
    days on market $59,900 Active 120 DOM
15. 2026-07-16
    days on market $59,900 Active 118 DOM
16. 2026-07-16
    days on market $59,900 Active 117 DOM
17. 2026-07-14
    days on market $59,900 Active 116 DOM
18. 2026-07-13
    days on market $59,900 Active 115 DOM
19. 2026-07-12
    days on market $59,900 Active 114 DOM
20. 2026-07-11
    days on market $59,900 Active 113 DOM
21. 2026-07-10
    days on market $59,900 Active 112 DOM
22. 2026-07-09
    days on market $59,900 Active 111 DOM
23. 2026-07-08
    days on market $59,900 Active 110 DOM
24. 2026-07-07
    days on market $59,900 Active 109 DOM
25. 2026-07-06
    days on market $59,900 Active 108 DOM
26. 2026-07-05
    days on market $59,900 Active 107 DOM
27. 2026-07-04
    days on market $59,900 Active 106 DOM
28. 2026-07-03
    days on market $59,900 Active 105 DOM
29. 2026-07-02
    days on market $59,900 Active 104 DOM
30. 2026-07-01
    days on market $59,900 Active 103 DOM
31. 2026-06-30
    days on market $59,900 Active 102 DOM
32. 2026-06-29
    days on market $59,900 Active 101 DOM
33. 2026-06-28
    days on market $59,900 Active 100 DOM
34. 2026-06-28
    days on market $59,900 Active 99 DOM
35. 2026-06-27
    days on market $59,900 Active 98 DOM
36. 2026-06-26
    days on market $59,900 Active 97 DOM
37. 2026-06-23
    days on market $59,900 Active 94 DOM
38. 2026-06-22
    days on market $59,900 Active 93 DOM
39. 2026-06-19
    days on market $59,900 Active 91 DOM
40. 2026-06-18
    days on market $59,900 Active 90 DOM
41. 2026-06-17
    days on market $59,900 Active 89 DOM
42. 2026-06-16
    days on market $59,900 Active 88 DOM
43. 2026-06-15
    days on market $59,900 Active 87 DOM
44. 2026-06-14
    days on market $59,900 Active 85 DOM
45. 2026-06-13
    days on market $59,900 Active 84 DOM
46. 2026-06-10
    days on market $59,900 Active 82 DOM
47. 2026-06-09
    days on market $59,900 Active 81 DOM
48. 2026-06-08
    days on market $59,900 Active 80 DOM
49. 2026-06-07
    days on market $59,900 Active 79 DOM
50. 2026-06-05
    days on market $59,900 Active 76 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: $532 · $44/mo
• Projected year-2 tax: $727 · $61/mo
• Expected delta: +$195/yr (+$16/mo · 36.6%)

ⓘ 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) · 71% 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: −$3,355
• − Property taxes: −$532
• − Insurance: −$300
• − Repairs & maintenance: −$859
• − Management: −$859
• − Depreciation: −$1,743
• Taxable income: $3,092
• Est. tax owed @ 24.0%: −$742
• After-tax cash flow: $3,141/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

Fair 45/100 Moderate rehab Est. rehab $28,600–$51,480 screening

This property requires moderate renovations, including painting, flooring replacement, and window cleaning, to improve its condition and value.

Deferred maintenance Est. $60,000–$180,000 screening

• Major Roof (roof) — Significant damage to the roof is visible, with missing shingles and exposed structure.
• Major Windows (windows) — The windows appear to be old and possibly not sealed properly, indicating potential air leakage and heat loss.
• Major Electrical (electrical) — The electrical panel is visible and appears to be outdated, which could indicate a need for an upgrade or repair.
• Major Plumbing (plumbing) — The exterior of the house shows signs of water damage, which could be related to plumbing issues.
• Major Exterior (exterior) — The exterior siding is peeling and damaged, indicating a need for repair or replacement.
• Major Other — The interior of the house is cluttered and in disrepair, which could indicate a need for cleaning and maintenance.

Repairs flagged

• Major kitchen flooring — Severe damage visible
• Major bathroom flooring — Severe damage visible
• Moderate exterior siding — Weathered and worn
• Major interior walls — Painted walls with visible wear

Value-add opportunities

• Both Painting and updating the interior walls — Enhances curb appeal and interior aesthetics ↑
• Both Flooring replacement in kitchen and bathroom — Improves functionality and appearance ↑
• Both Window cleaning and replacement — Enhances natural light and curb appeal ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 30/100

Zoned Schools

Elementary Harrington Elementary School F MI #1,217/1,397 Nat'l #38,100/41,679 Middle Marshall Middle School F MI #329/493 Nat'l #8,646/14,009 High Marshall High School D- MI #187/713 Nat'l #6,330/17,239

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

B Composite livability gradescore 70/100

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
• County: Calhoun · 130,157 people
• Metro: Battle Creek, MI
• Population (ZIP): 13,309
• Household income: $52,552
• Rent vs Own: 28.1% rent · 71.9% own
• Severe rent burden: 7% of renters

---

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

-14.3% since first listed

6 events — show timeline

• 2026-04-16 Price Changed $59,900 MiRealSource-MiMLS
• 2026-04-15 Price Changed $59,900 REALCOMP
• 2026-04-15 Price Changed $59,900 SW Michigan MLS
• 2026-03-20 Listed $69,900 SW Michigan MLS
• 2026-03-20 Listed $69,900 REALCOMP
• 2026-03-20 Listed $69,900 MiRealSource-MiMLS

Property tax history

-9.9%/yr

Latest (2025): $532 · -50.5% YoY. Source: county tax records.