219 S Dalrymple St · Albion, MI 49224

$37,900

4 bd · 1.0 ba · 1,344 sqft · SingleFamily public records · 44 Days on market

Built 1910 8,712 sqft lot $28/sqft · 67% below area

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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
• 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

Investor's opportunity with strong upside potential. Whether you're experienced or just getting started, this property offers a solid foundation for your next project. Situated on a city lot, the home features a full basement and functional layout, providing excellent potential for renovation, rental repositioning, or long-term hold. Conveniently located near main roads, schools, and local amenities, this property combines accessibility with value-add opportunity. Positioned in a growing market for investors looking to build equity.

Key facts

• City lot
• Full basement
• Functional layout

Tags

• FULL BASEMENT
• FUNCTIONAL LAYOUT
• CITY LOT
• LOCAL AMENITIES

Property features AI

Exterior

• Parking: Detached parking
• Utilities: Public water
• Home design: Traditional single-family residence; Living area approximately 1,344
• Construction: Wood siding; Built in 1910
• Exterior features: 0.2-acre lot; Public water

Interior

• Kitchen: Kitchen (approximately 15 x 10)
• Bedrooms: Bedroom 2 (approximately 11 x 10); Bedroom 3 (approximately 12 x 12); Bedroom 4 (approximately 11 x 10)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating
• Interior features: Seven total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $38k.

Deal economics

• At list price, monthly cash flow is $893 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $38k).
• Recommended offer: $37k (3.0% below list) — sets the bar for market timing.
• Cap rate 34.6% 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+, 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 $262 of loan paydown is wiped out by about $1k 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 $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($37k) is reasonable based on typical stale-listing flexibility.
• 13 sale attempts since 22y ago; this cycle's ask has dropped $12k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $12k; list at $38k implies a 216% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $36,763 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 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 1910 — 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: 3.96% ✓
• Cap rate: 34.57%
• Cash-on-cash: 101.01%
• DSCR: 5.49
• GRM: 2.1

CMA / ARV

• ARV (median comp): $113,992
• List price: $37,900
• Delta: -66.75%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
512 Austin Ave	0.64mi	4/1.5	1,344 (0%)	1mo	$95,000	$71	68
108 W Walnut St	0.39mi	3/1.0 (-1)	1,296 (-4%)	11mo	$140,000	$108	62
517 Mechanic St	0.36mi	3/1.0 (-1)	1,424 (+6%)	10mo	$70,000	$49	60
105 S Eaton St	0.25mi	3/2.0 (-1)	1,440 (+7%)	8mo	$36,000	$25	60
112 River St	0.54mi	4/2.0	1,337 (-0%)	13mo	$149,900	$112	59
806 N Eaton St	0.62mi	3/1.0 (-1)	1,248 (-7%)	3mo	$125,000	$100	52
508 Linden Ave	0.72mi	3/1.0 (-1)	1,300 (-3%)	6mo	$135,000	$104	51
806 S Eaton St	0.37mi	4/2.0	1,166 (-13%)	7mo	$95,000	$81	51
614 N Ann St	0.44mi	3/1.5 (-1)	1,500 (+12%)	4mo	$89,000	$59	50
706 N Monroe St	0.71mi	3/2.5 (-1)	1,416 (+5%)	3mo	$25,000	$18	45
901 N Ionia St	0.75mi	4/2.0	1,470 (+9%)	11mo	$175,000	$119	36
415 E Cass St	0.67mi	3/2.0 (-1)	1,494 (+11%)	9mo	$179,000	$120	33

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: 5.79×
• Total profit: $50,791
• Equity at exit: $5,651

10-year hold

• IRR: —
• Equity multiple: 12.09×
• Total profit: $117,652
• Equity at exit: $3,277

Cash invested: $10,612 (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: 2.1×

Monthly cashflow live

• Estimated rent: $1,501 medium
• Mortgage (P&I): −$199
• Tax from tax record: −$78 /mo · $936/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $893

Break-even live

Break-even rent $370

Max offer price $37,900

Occupancy floor 35%

Sensitivity live

Price	-10% $915	-5% $904	+0% $893	+5% $883	+10% $872
Rent	-10% $775	-5% $834	+0% $893	+5% $953	+10% $1,012
Rate	-1.0pp $912	-0.5pp $903	base $893	+0.5pp $883	+1.0pp $873

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: $9,475
• Closing costs: $1,137
• 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	45d	4	1.49mi

Listing history 40 events

1. 2026-06-19
   days on market $37,900 Active 44 DOM
2. 2026-06-18
   days on market $37,900 Active 43 DOM
3. 2026-06-17
   days on market $37,900 Active 42 DOM
4. 2026-06-16
   days on market $37,900 Active 41 DOM
5. 2026-06-15
   days on market $37,900 Active 40 DOM
6. 2026-06-14
   days on market $37,900 Active 38 DOM
7. 2026-06-13
   days on market $37,900 Active 37 DOM
8. 2026-06-10
   days on market $37,900 Active 35 DOM
9. 2026-06-09
   days on market $37,900 Active 34 DOM
10. 2026-06-08
    days on market $37,900 Active 33 DOM
11. 2026-06-07
    days on market $37,900 Active 32 DOM
12. 2026-06-05
    days on market $37,900 Active 29 DOM
13. 2026-06-03
    days on market $37,900 Active 28 DOM
14. 2026-06-02
    days on market $37,900 Active 27 DOM
15. 2026-06-01
    days on market $37,900 Active 26 DOM
16. 2026-05-31
    days on market $37,900 Active 25 DOM
17. 2026-05-30
    days on market $37,900 Active 24 DOM
18. 2026-05-05
    listed $49,900 Active 538-char remark

    Show marketing remark (538 chars)

    Investor's opportunity with strong upside potential. Whether you're experienced or just getting started, this property offers a solid foundation for your next project. Situated on a city lot, the home features a full basement and functional layout, providing excellent potential for renovation, rental repositioning, or long-term hold. Conveniently located near main roads, schools, and local amenities, this property combines accessibility with value-add opportunity. Positioned in a growing market for investors looking to build equity.

19. 2026-05-05
    listed $49,900 Active 538-char remark

    Show marketing remark (538 chars)

    Investor's opportunity with strong upside potential. Whether you're experienced or just getting started, this property offers a solid foundation for your next project. Situated on a city lot, the home features a full basement and functional layout, providing excellent potential for renovation, rental repositioning, or long-term hold. Conveniently located near main roads, schools, and local amenities, this property combines accessibility with value-add opportunity. Positioned in a growing market for investors looking to build equity.

20. 2026-05-05
    listed $49,900 Active

    Show marketing remark (538 chars)

    Investor's opportunity with strong upside potential. Whether you're experienced or just getting started, this property offers a solid foundation for your next project. Situated on a city lot, the home features a full basement and functional layout, providing excellent potential for renovation, rental repositioning, or long-term hold. Conveniently located near main roads, schools, and local amenities, this property combines accessibility with value-add opportunity. Positioned in a growing market for investors looking to build equity.

21. 2014-09-15
    historical
22. 2009-12-11
    soldstatus $12,000
23. 2009-12-11
    soldstatus $12,000
24. 2009-12-11
    soldstatus $12,000
25. 2009-12-11
    soldstatus $12,000
26. 2009-12-11
    soldstatus $12,000
27. 2009-12-11
    soldstatus $12,000
28. 2009-12-11
    soldstatus $12,000
29. 2009-12-11
    soldstatus $12,000
30. 2009-03-22
    listed $19,000
31. 2009-03-22
    listed $19,000
32. 2009-03-22
    listed $19,000
33. 2009-03-22
    listed $19,000
34. 2009-03-22
    listed $19,000
35. 2009-03-22
    listed $19,000
36. 2009-03-22
    listed $19,000
37. 2009-03-22
    listed $19,000
38. 2005-04-06
    soldstatus $32,000
39. 2004-09-15
    listed $35,900
40. 2004-09-15
    listed $35,900

ⓘ 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: $936 · $78/mo
• Projected year-2 tax: $936 · $78/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 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 · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,012
• − Mortgage interest: −$2,123
• − Property taxes: −$936
• − Insurance: −$190
• − Repairs & maintenance: −$1,441
• − Management: −$1,441
• − Depreciation: −$1,103
• Taxable income: $10,779
• Est. tax owed @ 24.0%: −$2,587
• After-tax cash flow: $8,132/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

+5.6% since first listed

29 events — show timeline

• 2026-05-23 Price Changed $37,900 MiRealSource-MiMLS
• 2026-05-22 Price Changed $37,900 REALCOMP
• 2026-05-22 Price Changed $37,900 SW Michigan MLS
• 2026-05-20 Price Changed $39,900 MiRealSource-MiMLS
• 2026-05-19 Price Changed $39,900 REALCOMP
• 2026-05-19 Price Changed $39,900 SW Michigan MLS
• 2026-05-05 Listed $49,900 SW Michigan MLS
• 2026-05-05 Listed $49,900 REALCOMP
• 2026-05-05 Listed $49,900 MiRealSource-MiMLS
• 2014-09-15 Listing Removed — SW Michigan MLS
• 2009-12-11 Sold (MLS) $12,000 REALCOMP
• 2009-12-11 Sold (MLS) $12,000 REALCOMP
• 2009-12-11 Sold (MLS) $12,000 MiRealSource-MiMLS
• 2009-12-11 Sold (MLS) $12,000 MiRealSource-MiMLS
• 2009-12-11 Sold (MLS) $12,000 MiRealSource-MiMLS
• 2009-12-11 Sold (MLS) $12,000 REALCOMP
• 2009-12-11 Sold (MLS) $12,000 SW Michigan MLS
• 2009-12-11 Sold (MLS) $12,000 SW Michigan MLS
• 2009-03-22 Listed $19,000 REALCOMP
• 2009-03-22 Listed $19,000 REALCOMP
• 2009-03-22 Listed $19,000 MiRealSource-MiMLS
• 2009-03-22 Listed $19,000 MiRealSource-MiMLS
• 2009-03-22 Listed $19,000 MiRealSource-MiMLS
• 2009-03-22 Listed $19,000 REALCOMP
• 2009-03-22 Listed $19,000 SW Michigan MLS
• 2009-03-22 Listed $19,000 SW Michigan MLS
• 2005-04-06 Sold (Public Records) $32,000 Public Records
• 2004-09-15 Listed $35,900 REALCOMP
• 2004-09-15 Listed $35,900 SW Michigan MLS

Property tax history

+6.4%/yr

Latest (2025): $936 · -17.6% YoY. Source: county tax records.