214 W Porter St · Albion, MI 49224

$2,200

None bd · None ba · — sqft · MultiFamily · 1246 Days on market

5,663 sqft lot Est $4k · 44% under

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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 +15.0/30.0
• ARV discount +15.0/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

This vacant lot is available thru the Calhoun County Land Bank's Develop This Lot (DTL) program. DTL assists buyers interested in acquiring & developing vacant land for housing, commercial, industrial, or mixed-use projects. Buyer is responsible for checking with the local municipality for building & zoning requirements. All offers will be reviewed on the 1st and 3rd Friday of each month. As per the seller's request, offers that do not include proof of funds & preliminary questionnaire will Not be submitted for consideration. Buildable Mixed Use Lot in Albion.

Key facts

• 5,663 sq ft lot
• Listed 1245 days

Property features AI

Finance

• Other: Property is located near S Superior and Porter for access/directions
• Financial info: Tax year 2025

Exterior

• Utilities: Public sewer; Natural gas available; Electricity available
• Home design: Land lot
• Exterior features: 0.13-acre lot; Public water available

What this means for you Summary

Snapshot

• This is a multifamily listed at $2k.

Deal economics

• At list price, monthly cash flow is $684 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($886 rent vs $2k).
• Recommended offer: $2k (12.0% below list) — sets the bar for market timing.
• Cap rate 379.6% 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+, 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: 134 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $15 of loan paydown is wiped out by about $66 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 $616 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 1246 days — a 12% lower offer ($2k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 18y 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.

Recommended offer $1,936 (12.0% below list)

Questions for the listing agent

1. It's been on market 1246 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 40.25% ✓
• Cap rate: 379.60%
• Cash-on-cash: 1333.22%
• DSCR: 60.32
• GRM: 0.2

CMA / ARV

• ARV (median comp): $3,940
• List price: $2,200
• Delta: -44.16%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
209 W Erie St	0.08mi	4/—	—	15mo	$41,000	—	71
404 N Superior St	0.32mi	—/—	—	4mo	$240,000	—	69
218 E Erie St	0.31mi	4/4.0	—	12mo	$158,000	—	63
219 W Chestnut St	0.35mi	4/—	—	13mo	$37,000	—	60
702 N Superior St	0.46mi	3/3.0	3,535	10mo	$45,000	$13	58
201 E Chestnut St	0.44mi	4/—	—	14mo	$32,500	—	56
114 Irwin Ave	0.39mi	4/3.0	1,982	20mo	$140,000	$71	52
612 E Erie St	0.58mi	5/4.0	—	12mo	$179,900	—	51
922 N Superior St	0.71mi	4/3.0	—	12mo	$85,000	—	45
911 N Clinton St	0.65mi	5/3.0	2,084	18mo	$22,000	$11	42

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: —
• Equity multiple: 71.20×
• Total profit: $43,246
• Equity at exit: $328

10-year hold

• IRR: —
• Equity multiple: 153.34×
• Total profit: $93,840
• Equity at exit: $190

Cash invested: $616 (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: 0.2×

Monthly cashflow live

• Estimated rent: $886 medium
• Mortgage (P&I): −$12
• Tax est. 1.5%: −$3 /mo · $33/yr
• Insurance: −$1
• HOA: −$0
• Vacancy / Maint / Mgmt: −$186
• Net cashflow: $684

Break-even live

Break-even rent $19

Max offer price $2,200

Occupancy floor 18%

Sensitivity live

Price	-10% $686	-5% $685	+0% $684	+5% $684	+10% $683
Rent	-10% $614	-5% $649	+0% $684	+5% $719	+10% $754
Rate	-1.0pp $685	-0.5pp $685	base $684	+0.5pp $684	+1.0pp $683

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: $550
• Closing costs: $66
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
404 N Superior St Unit 4 Albion, MI	1.0	1.0	—	$885	—	45d	1	0.32mi
313 E North St Albion, MI	2.0	1.0	820	$895	$1.09	45d	1	0.80mi
205 E Watson St Albion, MI	1.0	1.0	825	$875	$1.06	45d	1	1.05mi

Listing history 40 events

1. 2026-06-19
   days on market $2,200 Active 1246 DOM
2. 2026-06-18
   days on market $2,200 Active 1245 DOM
3. 2026-06-17
   days on market $2,200 Active 1244 DOM
4. 2026-06-16
   days on market $2,200 Active 1243 DOM
5. 2026-06-15
   days on market $2,200 Active 1242 DOM
6. 2026-06-14
   days on market $2,200 Active 1240 DOM
7. 2026-06-13
   days on market $2,200 Active 1239 DOM
8. 2026-06-10
   days on market $2,200 Active 1237 DOM
9. 2026-06-09
   days on market $2,200 Active 1236 DOM
10. 2026-06-08
    days on market $2,200 Active 1235 DOM
11. 2026-06-07
    days on market $2,200 Active 1234 DOM
12. 2026-06-05
    days on market $2,200 Active 1231 DOM
13. 2026-06-03
    days on market $2,200 Active 1230 DOM
14. 2026-06-02
    days on market $2,200 Active 1229 DOM
15. 2026-06-01
    days on market $2,200 Active 1228 DOM
16. 2026-05-31
    days on market $2,200 Active 1227 DOM
17. 2026-05-30
    days on market $2,200 Active 1226 DOM
18. 2023-01-20
    listed $2,200 Active

    Show marketing remark (584 chars)

    This vacant lot is available thru the Calhoun County Land Bank's Develop This Lot (DTL) program. DTL assists buyers interested in acquiring & developing vacant land for housing, commercial, industrial, or mixed-use projects. Buyer is responsible for checking with the local municipality for building & zoning requirements. All offers will be reviewed on the 1st and 3rd Friday of each month. As per the seller's request, offers that do not include proof of funds & preliminary questionnaire will Not be submitted for consideration. Buildable Mixed Use Lot in Albion.

19. 2023-01-20
    listed $2,200 Active

    Show marketing remark (584 chars)

    This vacant lot is available thru the Calhoun County Land Bank's Develop This Lot (DTL) program. DTL assists buyers interested in acquiring & developing vacant land for housing, commercial, industrial, or mixed-use projects. Buyer is responsible for checking with the local municipality for building & zoning requirements. All offers will be reviewed on the 1st and 3rd Friday of each month. As per the seller's request, offers that do not include proof of funds & preliminary questionnaire will Not be submitted for consideration. Buildable Mixed Use Lot in Albion.

20. 2023-01-20
    listed $2,200 Active 584-char remark

    Show marketing remark (584 chars)

    This vacant lot is available thru the Calhoun County Land Bank's Develop This Lot (DTL) program. DTL assists buyers interested in acquiring & developing vacant land for housing, commercial, industrial, or mixed-use projects. Buyer is responsible for checking with the local municipality for building & zoning requirements. All offers will be reviewed on the 1st and 3rd Friday of each month. As per the seller's request, offers that do not include proof of funds & preliminary questionnaire will Not be submitted for consideration. Buildable Mixed Use Lot in Albion.

21. 2016-07-08
    historical
22. 2016-07-07
    historical
23. 2016-02-09
    listed $16,500 Active
24. 2016-02-09
    listed $16,500
25. 2015-11-03
    historical
26. 2015-11-02
    historical
27. 2015-09-05
    listed $17,500 Active
28. 2015-05-01
    listed $17,500
29. 2015-04-29
    historical
30. 2015-04-28
    historical
31. 2015-04-23
    historical
32. 2014-10-07
    listed $17,500
33. 2014-10-07
    listed $17,500
34. 2014-09-30
    historical
35. 2014-09-25
    historical
36. 2014-03-28
    listed $19,500
37. 2014-03-28
    listed $19,500
38. 2010-02-11
    historical
39. 2009-11-20
    listed $29,900
40. 2008-11-19
    listed $29,900

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% 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: $10,627
• − Mortgage interest: −$123
• − Property taxes: −$33
• − Insurance: −$11
• − Repairs & maintenance: −$850
• − Management: −$850
• − Depreciation: −$64
• Taxable income: $8,695
• Est. tax owed @ 24.0%: −$2,087
• After-tax cash flow: $6,126/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

-92.6% since first listed

23 events — show timeline

• 2023-01-20 Listed $2,200 MiRealSource-MiMLS
• 2023-01-20 Listed $2,200 SW Michigan MLS
• 2023-01-20 Listed $2,200 REALCOMP
• 2016-07-08 Listing Removed — SW Michigan MLS
• 2016-07-07 Listing Removed — REALCOMP
• 2016-02-09 Listed $16,500 SW Michigan MLS
• 2016-02-09 Listed $16,500 REALCOMP
• 2015-11-03 Listing Removed — SW Michigan MLS
• 2015-11-02 Listing Removed — REALCOMP
• 2015-09-05 Listed $17,500 SW Michigan MLS
• 2015-05-01 Listed $17,500 REALCOMP
• 2015-04-29 Listing Removed — SW Michigan MLS
• 2015-04-28 Listing Removed — REALCOMP
• 2015-04-23 Listing Removed — SW Michigan MLS
• 2014-10-07 Listed $17,500 REALCOMP
• 2014-10-07 Listed $17,500 SW Michigan MLS
• 2014-09-30 Listing Removed — REALCOMP
• 2014-09-25 Listing Removed — SW Michigan MLS
• 2014-03-28 Listed $19,500 REALCOMP
• 2014-03-28 Listed $19,500 SW Michigan MLS
• 2010-02-11 Listing Removed — SW Michigan MLS
• 2009-11-20 Listed $29,900 SW Michigan MLS
• 2008-11-19 Listed $29,900 SW Michigan MLS