3151 Olsen St · Albert, MI 49756

$44,900

3 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 38 Days on market

Built 1900 7,200 sqft lot

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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
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 1.5 story home, with large attached garage, is located on a corner lot, in the Community of Lewiston. The older structure is waiting for a new owner, to update to their taste.

Key facts

• Large garage
• Workshop
• Corner lot

Tags

• CORNER LOT
• LARGE GARAGE
• WORKSHOP

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Well water; Septic sewer
• Home design: Single-family residence; Residential property
• Exterior features: Paved road access; Lot dimensions approximately 60 x 120

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating
• Interior features: Basement present
• Laundry & utility: No laundry hookups reported

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $511 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads: area grade B — affects rentability + tenant quality, not the cash-flow math above.
• Johannesburg-Lewiston Area Schools (rural): math 33% / reading 42% proficiency, ranked #257 of 540 in MI (top 48%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 99 active listings in the ZIP.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $310 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Montmorency County population projected at -38% 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 $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 7y ago; this cycle's ask has dropped $5k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $28k; list at $45k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $43,553 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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 1900 — 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. 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.
5. 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.
6. 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: 2.40% ✓
• Cap rate: 19.96%
• Cash-on-cash: 48.81%
• DSCR: 3.17
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $133,056
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3196 Olsen St	0.05mi	2/1.0 (-1)	864 (-14%)	8mo	$98,500	$114	62
3946 Spruce Dr	0.39mi	2/1.0 (-1)	900 (-11%)	1mo	$158,500	$176	58
4411 Judy Ave	0.59mi	3/2.0	1,012 (+0%)	12mo	$190,000	$188	58
4290 Clark St	0.38mi	3/1.0	900 (-11%)	11mo	$158,000	$176	55
3909 Dorothy St	0.47mi	2/1.0 (-1)	1,120 (+11%)	0mo	$108,500	$97	54
3366 Kneeland St	0.24mi	3/1.0	900 (-11%)	22mo	$98,500	$109	53
2710 Mantz St	0.50mi	3/2.0	1,144 (+14%)	2mo	$188,900	$165	49
4536 Judy Ave	0.58mi	3/1.0	1,100 (+9%)	12mo	$65,000	$59	48
3216 Marius St	0.23mi	2/1.0 (-1)	1,132 (+12%)	19mo	$149,000	$132	48
3660 Helen St	0.68mi	2/1.0 (-1)	864 (-14%)	4mo	$70,000	$81	36
3670 Kneeland St	0.54mi	2/1.0 (-1)	1,100 (+9%)	23mo	$155,500	$141	36

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: 46.4%
• Equity multiple: 3.01×
• Total profit: $25,331
• Equity at exit: $6,695

10-year hold

• IRR: 52.2%
• Equity multiple: 6.10×
• Total profit: $64,142
• Equity at exit: $3,882

Cash invested: $12,572 (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 49756

• Active inventory: 99
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,079 medium
• Mortgage (P&I): −$235
• Tax from tax record: −$87 /mo · $1,043/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $511

Break-even live

Break-even rent $432

Max offer price $44,900

Occupancy floor 48%

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: $11,225
• Closing costs: $1,347
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-18
   days on market $44,900 Active 38 DOM
2. 2026-06-17
   days on market $44,900 Active 37 DOM
3. 2026-06-16
   days on market $44,900 Active 36 DOM
4. 2026-06-15
   days on market $44,900 Active 35 DOM
5. 2026-06-13
   days on market $44,900 Active 33 DOM
6. 2026-06-12
   days on market $44,900 Active 32 DOM
7. 2026-06-09
   pricedays on market $44,900 Active 29 DOM
8. 2026-06-08
   days on market $49,900 Active 28 DOM
9. 2026-06-07
   days on market $49,900 Active 27 DOM
10. 2026-06-07
    days on market $49,900 Active 26 DOM
11. 2026-06-04
    days on market $49,900 Active 23 DOM
12. 2026-06-02
    days on market $49,900 Active 22 DOM
13. 2026-06-01
    days on market $49,900 Active 21 DOM
14. 2026-05-31
    days on market $49,900 Active 20 DOM
15. 2026-05-31
    days on market $49,900 Active 19 DOM
16. 2026-05-06
    listed $49,900 Active
17. 2019-08-09
    soldstatus $28,000 180-char remark

    Show marketing remark (180 chars)

    This 1.5 story home, with large attached garage, is located on a corner lot, in the Community of Lewiston. The older structure is waiting for a new owner, to update to their taste.

18. 2019-07-16
    soldstatus $28,000
19. 2019-03-22
    listed $29,900 180-char remark

    Show marketing remark (180 chars)

    This 1.5 story home, with large attached garage, is located on a corner lot, in the Community of Lewiston. The older structure is waiting for a new owner, to update to their taste.

ⓘ 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: $1,043 · $87/mo
• Projected year-2 tax: $1,043 · $87/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 0% chance over 30 yrs
• 🔥 Wildfire 4/10 Moderate
• 🌡 Heat 1/10 Low 7 d/yr ≥93°F today · 13 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,949
• − Mortgage interest: −$2,515
• − Property taxes: −$1,043
• − Insurance: −$224
• − Repairs & maintenance: −$1,036
• − Management: −$1,036
• − Depreciation: −$1,306
• Taxable income: $5,789
• Est. tax owed @ 24.0%: −$1,389
• After-tax cash flow: $4,748/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: Johannesburg-Lewiston Area Schools
• NCES district ID: 2619890
• Math proficiency: 33% ▼ -6.00%
• Reading proficiency: 42% ▼ -10.00%
• Median HH income: $39,218
• Composite: 31.36/100
• National rank: #5995
• State rank: #257 of 540 in MI

Livability — Albert

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Lewiston, MI
• Population (ZIP): 3,965

Population outlook (Montmorency County) Hauer SSP2

• Today (2025): 8,233 people
• By 2030: 7,575 · -8.0%
• By 2040: 6,202 · -24.7%
• By 2050: 5,081 · -38.3%
• By 2075: 3,119 · -62.1%
• By 2100: 1,923 · -76.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Two or more races 6%
• Common ancestry: Romanian 14% Lithuanian 8% Iranian 2%
• Foreign-born: 1% · Canada, China
• Languages at home: 98% English-only · Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Montmorency

• 2024 margin: Solid R (+45.3) · D 26.6% · R 72.0% · Other 1.4%
• 2008→2024 swing: -37.2pp toward R · 2008: -8.2pp · 2024: -45.3pp
• All cycles: 2024: R+45.3 2020: R+43.4 2016: R+44.2 2012: R+17.4 2008: R+8.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -111.19%
• Current HPI: 134.8693
• 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

+66.9% since first listed

4 events — show timeline

• 2026-05-06 Listed $49,900 WWMLS
• 2019-08-09 Sold (MLS) $28,000 WWMLS
• 2019-07-16 Sold (Public Records) $28,000 Public Records
• 2019-03-22 Listed $29,900 WWMLS

Property tax history

+12.8%/yr

Latest (2024): $1,043 · -25.2% YoY. Source: county tax records.