402 N Huron St · Albion, MI 49224

$100,000

4 bd · 1.5 ba · 2,388 sqft · SingleFamily public records · 31 Days on market

Built 1880 0.37 ac lot $42/sqft · 36% below area Est $156k · 36% under

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

Charming and full of character, this spacious 5 bedroom, 2 bath two-story home sits just off Michigan Ave in a highly convenient location. Featuring hardwood floors throughout, this home offers timeless appeal with plenty of space to grow. Owned and well cared for by the same family for nearly 20 years, it's now ready for its next chapter. With a little elbow grease, this property presents a great opportunity to build equity, customize to your style, or capitalize as an investment. The layout also offers strong potential for a duplex conversion. Large bedrooms, main floor laundry, nice location and situated on a large, deep lot with room to enjoy outdoor living. Priced to sell so don't miss your chance to unlock the potential this property has to offer!REAL ESTATE WITH RAY517-937-2408

Key facts

• Large deep lot
• Main floor laundry
• Duplex conversion

Tags

• HARDWOOD FLOORS
• DUPLEX CONVERSION
• MAIN FLOOR LAUNDRY
• LARGE DEEP LOT
• OUTDOOR LIVING

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $540 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.8% 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; 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 $691 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 $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 20y 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 $34k; list at $100k implies a 194% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $97,000 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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 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: 1.52% ✓
• Cap rate: 12.77%
• Cash-on-cash: 23.15%
• DSCR: 2.03
• GRM: 5.5

CMA / ARV

• ARV (median comp): $156,249
• List price: $100,000
• Delta: -36.00%
• Verdict: UNDERPRICED
• Comps: 8 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1113 E Cass St	0.37mi	4/2.0	2,584 (+8%)	1mo	$115,000	$45	66
408 Washington St	0.59mi	3/1.5 (-1)	2,433 (+2%)	5mo	$230,000	$95	60
218 E Walnut St	0.53mi	4/2.0	2,248 (-6%)	14mo	$130,000	$58	52
1205 E Michigan Ave	0.39mi	4/1.5	2,047 (-14%)	11mo	$61,500	$30	49
304 E Michigan Ave	0.18mi	4/3.0	2,130 (-11%)	23mo	$250,000	$117	48
208 E Oak St	0.60mi	5/2.0 (+1)	2,150 (-10%)	6mo	$207,000	$96	43
418 Linden Ave	0.41mi	4/2.0	2,128 (-11%)	24mo	$162,500	$76	41
514 Linden Ave	0.53mi	4/2.5	2,705 (+13%)	14mo	$303,000	$112	38
913 S Superior St	0.71mi	3/2.0 (-1)	2,496 (+4%)	20mo	$178,000	$71	36
713 N Clinton St	0.46mi	4/2.0	2,736 (+15%)	23mo	$58,000	$21	33
307 Arthur St	0.63mi	4/2.0	2,112 (-12%)	20mo	$40,000	$19	32
618 N Ann St	0.63mi	3/1.5 (-1)	2,686 (+12%)	18mo	$87,500	$33	30

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: $18,197
• Equity at exit: $14,910

10-year hold

• IRR: 24.7%
• Equity multiple: 3.15×
• Total profit: $60,154
• Equity at exit: $8,646

Cash invested: $28,000 (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: 5.5×

Monthly cashflow live

• Estimated rent: $1,519 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$94 /mo · $1,125/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $540

Break-even live

Break-even rent $835

Max offer price $100,000

Occupancy floor 59%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-05-17
   status Pending 795-char remark

   Show marketing remark (795 chars)

   Charming and full of character, this spacious 5 bedroom, 2 bath two-story home sits just off Michigan Ave in a highly convenient location. Featuring hardwood floors throughout, this home offers timeless appeal with plenty of space to grow. Owned and well cared for by the same family for nearly 20 years, it's now ready for its next chapter. With a little elbow grease, this property presents a great opportunity to build equity, customize to your style, or capitalize as an investment. The layout also offers strong potential for a duplex conversion. Large bedrooms, main floor laundry, nice location and situated on a large, deep lot with room to enjoy outdoor living. Priced to sell so don't miss your chance to unlock the potential this property has to offer!REAL ESTATE WITH RAY517-937-2408

2. 2026-05-17
   status Pending 795-char remark

   Show marketing remark (795 chars)

   Charming and full of character, this spacious 5 bedroom, 2 bath two-story home sits just off Michigan Ave in a highly convenient location. Featuring hardwood floors throughout, this home offers timeless appeal with plenty of space to grow. Owned and well cared for by the same family for nearly 20 years, it's now ready for its next chapter. With a little elbow grease, this property presents a great opportunity to build equity, customize to your style, or capitalize as an investment. The layout also offers strong potential for a duplex conversion. Large bedrooms, main floor laundry, nice location and situated on a large, deep lot with room to enjoy outdoor living. Priced to sell so don't miss your chance to unlock the potential this property has to offer!REAL ESTATE WITH RAY517-937-2408

3. 2026-05-17
   status Pending

   Show marketing remark (795 chars)

   Charming and full of character, this spacious 5 bedroom, 2 bath two-story home sits just off Michigan Ave in a highly convenient location. Featuring hardwood floors throughout, this home offers timeless appeal with plenty of space to grow. Owned and well cared for by the same family for nearly 20 years, it's now ready for its next chapter. With a little elbow grease, this property presents a great opportunity to build equity, customize to your style, or capitalize as an investment. The layout also offers strong potential for a duplex conversion. Large bedrooms, main floor laundry, nice location and situated on a large, deep lot with room to enjoy outdoor living. Priced to sell so don't miss your chance to unlock the potential this property has to offer!REAL ESTATE WITH RAY517-937-2408

4. 2026-04-15
   listed $100,000 Active 795-char remark

   Show marketing remark (795 chars)

   Charming and full of character, this spacious 5 bedroom, 2 bath two-story home sits just off Michigan Ave in a highly convenient location. Featuring hardwood floors throughout, this home offers timeless appeal with plenty of space to grow. Owned and well cared for by the same family for nearly 20 years, it's now ready for its next chapter. With a little elbow grease, this property presents a great opportunity to build equity, customize to your style, or capitalize as an investment. The layout also offers strong potential for a duplex conversion. Large bedrooms, main floor laundry, nice location and situated on a large, deep lot with room to enjoy outdoor living. Priced to sell so don't miss your chance to unlock the potential this property has to offer!REAL ESTATE WITH RAY517-937-2408

5. 2026-04-15
   listed $100,000 Active 795-char remark

   Show marketing remark (795 chars)

   Charming and full of character, this spacious 5 bedroom, 2 bath two-story home sits just off Michigan Ave in a highly convenient location. Featuring hardwood floors throughout, this home offers timeless appeal with plenty of space to grow. Owned and well cared for by the same family for nearly 20 years, it's now ready for its next chapter. With a little elbow grease, this property presents a great opportunity to build equity, customize to your style, or capitalize as an investment. The layout also offers strong potential for a duplex conversion. Large bedrooms, main floor laundry, nice location and situated on a large, deep lot with room to enjoy outdoor living. Priced to sell so don't miss your chance to unlock the potential this property has to offer!REAL ESTATE WITH RAY517-937-2408

6. 2026-04-15
   listed $100,000 Active

   Show marketing remark (795 chars)

   Charming and full of character, this spacious 5 bedroom, 2 bath two-story home sits just off Michigan Ave in a highly convenient location. Featuring hardwood floors throughout, this home offers timeless appeal with plenty of space to grow. Owned and well cared for by the same family for nearly 20 years, it's now ready for its next chapter. With a little elbow grease, this property presents a great opportunity to build equity, customize to your style, or capitalize as an investment. The layout also offers strong potential for a duplex conversion. Large bedrooms, main floor laundry, nice location and situated on a large, deep lot with room to enjoy outdoor living. Priced to sell so don't miss your chance to unlock the potential this property has to offer!REAL ESTATE WITH RAY517-937-2408

7. 2007-07-16
   soldstatus $34,000
8. 2007-07-16
   soldstatus $34,000
9. 2007-07-16
   soldstatus $34,000
10. 2007-04-04
    listed $34,500
11. 2007-04-04
    listed $34,500
12. 2007-04-04
    listed $34,500
13. 2007-02-23
    historical
14. 2006-06-12
    listed $53,000
15. 2006-06-12
    listed $53,000

ⓘ 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: $1,125 · $94/mo
• Projected year-2 tax: $1,332 · $111/mo
• Expected delta: +$208/yr (+$17/mo · 18.5%)

ⓘ 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 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: $18,226
• − Mortgage interest: −$5,602
• − Property taxes: −$1,125
• − Insurance: −$500
• − Repairs & maintenance: −$1,458
• − Management: −$1,458
• − Depreciation: −$2,909
• Taxable income: $5,175
• Est. tax owed @ 24.0%: −$1,242
• After-tax cash flow: $5,239/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

+88.7% since first listed

15 events — show timeline

• 2026-05-17 Pending — REALCOMP
• 2026-05-17 Pending — MiRealSource-MiMLS
• 2026-05-17 Pending — SW Michigan MLS
• 2026-04-15 Listed $100,000 REALCOMP
• 2026-04-15 Listed $100,000 SW Michigan MLS
• 2026-04-15 Listed $100,000 MiRealSource-MiMLS
• 2007-07-16 Sold (MLS) $34,000 MiRealSource-MiMLS
• 2007-07-16 Sold (MLS) $34,000 REALCOMP
• 2007-07-16 Sold (MLS) $34,000 SW Michigan MLS
• 2007-04-04 Listed $34,500 MiRealSource-MiMLS
• 2007-04-04 Listed $34,500 REALCOMP
• 2007-04-04 Listed $34,500 SW Michigan MLS
• 2007-02-23 Listing Removed — SW Michigan MLS
• 2006-06-12 Listed $53,000 REALCOMP
• 2006-06-12 Listed $53,000 SW Michigan MLS

Property tax history

-3.8%/yr

Latest (2025): $1,125 · -32.6% YoY. Source: county tax records.