12953 28 1/2 Mile Rd · Albion, MI 49224

$169,900

4 bd · 2.5 ba · 1,385 sqft · SingleFamily · 3 Days on market

Built 1965 Average condition 0.30 ac lot Est $165k · at est.

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Why this score? — see what drove the D- 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 +13.7/30.0
• ARV discount +6.1/15.0
• DSCR +4.1/10.0
• 1% rule +3.8/10.0
• Livability +3.5/5.0
• Schools +3.1/10.0
• Condition / age +2.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Spacious and well-designed, this four-bedroom, two-and-a-half-bath home offers a functional layout with room to spread out. The main level features a spacious living area, beautiful kitchen with ample cabinetry and counter space, and convenient access to the attached two-car garage. The home includes two bedrooms upstairs and two bedrooms on the lower level, providing flexible living arrangements. A full bathroom is located on each level, along with a half bath in the basement for added convenience. The walkout basement offers excellent potential for additional living space, storage, or a variety of uses to suit your needs. Thoughtfully laid out for both everyday living and entertaining, this home provides comfort, space, and versatility. Call or text Aron Hodo at 517-677-5986 to schedule your private tour today.

Key facts

• Half bath
• Walkout basement
• Ample cabinetry

Tags

• AMPLE CABINETRY
• COUNTER SPACE
• FULL BATHROOM
• HALF BATH
• WALKOUT BASEMENT
• ADDITIONAL LIVING SPACE

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $170k. Condition is rated average.

Deal economics

• At list price, monthly cash flow is $12 ($140/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $150k (11.7% below list).
• Recommended offer: $150k (11.7% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 8.6% in Albion — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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 $1k of loan paydown is wiped out by about $5k 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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 9y 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 $95k; list at $170k implies a 79% gain — meaningful room to come down on a strong offer.

Recommended offer $150,100 (11.7% below list)

Questions for the listing agent

1. Built in 1965 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.88% ✗
• Cap rate: 6.38%
• Cash-on-cash: 0.29%
• DSCR: 1.01
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $164,815
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
901 N Ionia St	0.71mi	4/2.0	1,470 (+6%)	11mo	$175,000	$119	45
308 E Broadwell St	0.42mi	3/2.0 (-1)	1,224 (-12%)	16mo	$147,000	$120	40
515 Maple Rdg	0.64mi	4/1.5	1,242 (-10%)	10mo	$160,000	$129	40
909 Burr Oak St	0.64mi	3/2.0 (-1)	1,496 (+8%)	16mo	$155,000	$104	36
903 N Monroe St	0.68mi	3/1.0 (-1)	1,360 (-2%)	23mo	$133,000	$98	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: -15.8%
• Equity multiple: 0.44×
• Total profit: $-26,766
• Equity at exit: $25,333

10-year hold

• IRR: -7.4%
• Equity multiple: 0.53×
• Total profit: $-22,260
• Equity at exit: $14,690

Cash invested: $47,572 (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: 9.4×

Monthly cashflow live

• Estimated rent: $1,501 medium
• Mortgage (P&I): −$891
• Tax est. 1.5%: −$212 /mo · $2,548/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $12

Break-even live

Break-even rent $1,486

Max offer price $169,900

Occupancy floor 94%

Sensitivity live

Price	-10% $129	-5% $70	+0% $12	+5% $-47	+10% $-106
Rent	-10% $-107	-5% $-48	+0% $12	+5% $71	+10% $130
Rate	-1.0pp $97	-0.5pp $55	base $12	+0.5pp $-32	+1.0pp $-77

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1200 Westover Blvd Albion, MI	3.0–4.0	2.0	1456	$1,501	$1.03	44d	4	1.31mi

Listing history 11 events

1. 2026-04-03
   status Pending 824-char remark

   Show marketing remark (824 chars)

   Spacious and well-designed, this four-bedroom, two-and-a-half-bath home offers a functional layout with room to spread out. The main level features a spacious living area, beautiful kitchen with ample cabinetry and counter space, and convenient access to the attached two-car garage. The home includes two bedrooms upstairs and two bedrooms on the lower level, providing flexible living arrangements. A full bathroom is located on each level, along with a half bath in the basement for added convenience. The walkout basement offers excellent potential for additional living space, storage, or a variety of uses to suit your needs. Thoughtfully laid out for both everyday living and entertaining, this home provides comfort, space, and versatility. Call or text Aron Hodo at 517-677-5986 to schedule your private tour today.

2. 2026-04-03
   status Pending 824-char remark

   Show marketing remark (824 chars)

   Spacious and well-designed, this four-bedroom, two-and-a-half-bath home offers a functional layout with room to spread out. The main level features a spacious living area, beautiful kitchen with ample cabinetry and counter space, and convenient access to the attached two-car garage. The home includes two bedrooms upstairs and two bedrooms on the lower level, providing flexible living arrangements. A full bathroom is located on each level, along with a half bath in the basement for added convenience. The walkout basement offers excellent potential for additional living space, storage, or a variety of uses to suit your needs. Thoughtfully laid out for both everyday living and entertaining, this home provides comfort, space, and versatility. Call or text Aron Hodo at 517-677-5986 to schedule your private tour today.

3. 2026-04-03
   status Pending

   Show marketing remark (824 chars)

   Spacious and well-designed, this four-bedroom, two-and-a-half-bath home offers a functional layout with room to spread out. The main level features a spacious living area, beautiful kitchen with ample cabinetry and counter space, and convenient access to the attached two-car garage. The home includes two bedrooms upstairs and two bedrooms on the lower level, providing flexible living arrangements. A full bathroom is located on each level, along with a half bath in the basement for added convenience. The walkout basement offers excellent potential for additional living space, storage, or a variety of uses to suit your needs. Thoughtfully laid out for both everyday living and entertaining, this home provides comfort, space, and versatility. Call or text Aron Hodo at 517-677-5986 to schedule your private tour today.

4. 2026-03-31
   listed $169,900 Active 824-char remark

   Show marketing remark (824 chars)

   Spacious and well-designed, this four-bedroom, two-and-a-half-bath home offers a functional layout with room to spread out. The main level features a spacious living area, beautiful kitchen with ample cabinetry and counter space, and convenient access to the attached two-car garage. The home includes two bedrooms upstairs and two bedrooms on the lower level, providing flexible living arrangements. A full bathroom is located on each level, along with a half bath in the basement for added convenience. The walkout basement offers excellent potential for additional living space, storage, or a variety of uses to suit your needs. Thoughtfully laid out for both everyday living and entertaining, this home provides comfort, space, and versatility. Call or text Aron Hodo at 517-677-5986 to schedule your private tour today.

5. 2026-03-31
   listed $169,900 Active 824-char remark

   Show marketing remark (824 chars)

   Spacious and well-designed, this four-bedroom, two-and-a-half-bath home offers a functional layout with room to spread out. The main level features a spacious living area, beautiful kitchen with ample cabinetry and counter space, and convenient access to the attached two-car garage. The home includes two bedrooms upstairs and two bedrooms on the lower level, providing flexible living arrangements. A full bathroom is located on each level, along with a half bath in the basement for added convenience. The walkout basement offers excellent potential for additional living space, storage, or a variety of uses to suit your needs. Thoughtfully laid out for both everyday living and entertaining, this home provides comfort, space, and versatility. Call or text Aron Hodo at 517-677-5986 to schedule your private tour today.

6. 2026-03-31
   listed $169,900 Active

   Show marketing remark (824 chars)

   Spacious and well-designed, this four-bedroom, two-and-a-half-bath home offers a functional layout with room to spread out. The main level features a spacious living area, beautiful kitchen with ample cabinetry and counter space, and convenient access to the attached two-car garage. The home includes two bedrooms upstairs and two bedrooms on the lower level, providing flexible living arrangements. A full bathroom is located on each level, along with a half bath in the basement for added convenience. The walkout basement offers excellent potential for additional living space, storage, or a variety of uses to suit your needs. Thoughtfully laid out for both everyday living and entertaining, this home provides comfort, space, and versatility. Call or text Aron Hodo at 517-677-5986 to schedule your private tour today.

7. 2018-01-26
   soldstatus $95,000
8. 2018-01-26
   soldstatus $95,000 Sold
9. 2018-01-01
   status Pending
10. 2017-12-19
    listed $99,900
11. 2017-12-19
    listed $99,900 Active

ⓘ 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 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,012
• − Mortgage interest: −$9,517
• − Property taxes: −$2,548
• − Insurance: −$850
• − Repairs & maintenance: −$1,441
• − Management: −$1,441
• − Depreciation: −$4,943
• Taxable loss: −$2,728
• Est. tax savings @ 24.0%: +$655
• After-tax cash flow: $794/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 · 12 photos

Average 55/100 Cosmetic rehab

A well-maintained single-family home with average condition, offering potential for cosmetic updates to enhance its resale value.

Repairs flagged

• Minor kitchen backsplash — tile appears old and could be replaced
• Minor bathroom fixtures — some fixtures may need updating

Value-add opportunities

• Resale paint interior walls — fresh paint enhances curb appeal
• Resale replace carpet in bedrooms — new carpet improves comfort and appearance
• Resale update kitchen backsplash — new backsplash adds modern look

Renovation cost estimate screening

Repair item	Severity	Est. cost
kitchen backsplash · tile appears old and could be replaced	Minor	$500–3,000
bathroom fixtures · some fixtures may need updating	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Resale paint interior walls — fresh paint enhances curb appeal ↑
• Resale replace carpet in bedrooms — new carpet improves comfort and appearance ↑
• Resale update kitchen backsplash — new backsplash adds modern look ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• 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

+70.1% since first listed

11 events — show timeline

• 2026-04-03 Pending — REALCOMP
• 2026-04-03 Pending — MiRealSource-MiMLS
• 2026-04-03 Pending — SW Michigan MLS
• 2026-03-31 Listed $169,900 SW Michigan MLS
• 2026-03-31 Listed $169,900 MiRealSource-MiMLS
• 2026-03-31 Listed $169,900 REALCOMP
• 2018-01-26 Sold (MLS) $95,000 SW Michigan MLS
• 2018-01-26 Sold (MLS) $95,000 REALCOMP
• 2018-01-01 Pending — SW Michigan MLS
• 2017-12-19 Listed $99,900 SW Michigan MLS
• 2017-12-19 Listed $99,900 REALCOMP