27620 C Dr N · Albion, MI 49224

$33,000

1 bd · 1.0 ba · 596 sqft · SingleFamily public records · 322 Days on market

Built 1900 0.58 ac lot Est $25k · 32% over ↓ 27% since listing

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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 +30.0/30.0
• 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
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investment Opportunity! Featuring a 596 sq ft house on over half an acre of land in an ideal location. Bring your imagination and ideas to life! This is a cash only Sale.

Key facts

• 0.58 acre lot
• Built 1900
• Listed 322 days

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $33k.

Deal economics

• At list price, monthly cash flow is $440 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($833 rent vs $33k).
• Recommended offer: $29k (12.0% below list) — sets the bar for market timing.
• Cap rate 22.3% 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 $228 of loan paydown is wiped out by about $990 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 $9k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 322 days — a 12% lower offer ($29k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $12k (27%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $29,040 (12.0% below list)

Questions for the listing agent

1. It's been on market 322 days. Have you received any prior offers? Is the seller open to a 12% 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. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 2.53% ✓
• Cap rate: 22.31%
• Cash-on-cash: 57.21%
• DSCR: 3.55
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $25,032
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
27620 C Dr N	0.00mi	1/1.0	596 (0%)	1mo	$25,000	$42	100

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: 55.7%
• Equity multiple: 3.46×
• Total profit: $22,713
• Equity at exit: $4,920

10-year hold

• IRR: 60.7%
• Equity multiple: 7.05×
• Total profit: $55,929
• Equity at exit: $2,853

Cash invested: $9,240 (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: 3.3×

Monthly cashflow live

• Estimated rent: $833 medium
• Mortgage (P&I): −$173
• Tax from tax record: −$31 /mo · $373/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$175
• Net cashflow: $440

Break-even live

Break-even rent $276

Max offer price $33,000

Occupancy floor 42%

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: $8,250
• Closing costs: $990
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-04-17
   status Pending 172-char remark

   Show marketing remark (172 chars)

   Investment Opportunity! Featuring a 596 sq ft house on over half an acre of land in an ideal location. Bring your imagination and ideas to life! This is a cash only Sale.

2. 2026-04-17
   status Pending

   Show marketing remark (172 chars)

   Investment Opportunity! Featuring a 596 sq ft house on over half an acre of land in an ideal location. Bring your imagination and ideas to life! This is a cash only Sale.

3. 2025-08-05
   price $33,000 172-char remark

   Show marketing remark (172 chars)

   Investment Opportunity! Featuring a 596 sq ft house on over half an acre of land in an ideal location. Bring your imagination and ideas to life! This is a cash only Sale.

4. 2025-08-05
   price $33,000

   Show marketing remark (172 chars)

   Investment Opportunity! Featuring a 596 sq ft house on over half an acre of land in an ideal location. Bring your imagination and ideas to life! This is a cash only Sale.

5. 2025-06-18
   price $38,700 172-char remark

   Show marketing remark (172 chars)

   Investment Opportunity! Featuring a 596 sq ft house on over half an acre of land in an ideal location. Bring your imagination and ideas to life! This is a cash only Sale.

6. 2025-06-18
   price $38,700

   Show marketing remark (172 chars)

   Investment Opportunity! Featuring a 596 sq ft house on over half an acre of land in an ideal location. Bring your imagination and ideas to life! This is a cash only Sale.

7. 2025-05-30
   listed $45,000 Active 172-char remark

   Show marketing remark (172 chars)

   Investment Opportunity! Featuring a 596 sq ft house on over half an acre of land in an ideal location. Bring your imagination and ideas to life! This is a cash only Sale.

8. 2025-05-30
   listed $45,000 Active

   Show marketing remark (172 chars)

   Investment Opportunity! Featuring a 596 sq ft house on over half an acre of land in an ideal location. Bring your imagination and ideas to life! This is a cash only Sale.

ⓘ 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: $373 · $31/mo
• Projected year-2 tax: $441 · $37/mo
• Expected delta: +$68/yr (+$6/mo · 18.1%)

ⓘ 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 3/10 Moderate
• 🌡 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: $10,001
• − Mortgage interest: −$1,849
• − Property taxes: −$373
• − Insurance: −$165
• − Repairs & maintenance: −$800
• − Management: −$800
• − Depreciation: −$960
• Taxable income: $5,054
• Est. tax owed @ 24.0%: −$1,213
• After-tax cash flow: $4,073/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

• 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

-26.7% since first listed

8 events — show timeline

• 2026-04-17 Pending — REALCOMP
• 2026-04-17 Pending — Greater Lansing AoR
• 2025-08-05 Price Changed $33,000 REALCOMP
• 2025-08-05 Price Changed $33,000 Greater Lansing AoR
• 2025-06-18 Price Changed $38,700 REALCOMP
• 2025-06-18 Price Changed $38,700 Greater Lansing AoR
• 2025-05-30 Listed $45,000 REALCOMP
• 2025-05-30 Listed $45,000 Greater Lansing AoR

Property tax history

-1.3%/yr

Latest (2025): $373 · -77.3% YoY. Source: county tax records.