1018 Fitch St · Albion, MI 49224

$44,900

3 bd · 1.5 ba · 1,152 sqft · SingleFamily public records · 36 Days on market

Built 1947 9,583 sqft lot $39/sqft · 67% below area ↓ 25% since listing

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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

3bedroom, 1.5bathroom fixer upper in Albion.

Key facts

• 9,583 sq ft lot
• Garage
• Built 1947

Property features AI

Exterior

• Parking: Attached 1-car garage
• Utilities: Public water
• Home design: Traditional style single-family residence; Residential property
• Construction: Built in 1947; Aluminum siding; Vinyl siding
• Exterior features: Lot approximately 0.22 acres; Public water

Interior

• Kitchen: Kitchen
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bedroom 4; One additional room (11 x 14) listed as Other
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating
• Interior features: 7 total rooms; Partial basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $336 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($895 rent vs $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Cap rate 17.1% 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 $310 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 $13k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 16y ago; this cycle's ask has dropped $15k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $30k; 50% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1947 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

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

Questions for the listing agent

1. It's been on market 36 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 1947 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.99% ✓
• Cap rate: 17.06%
• Cash-on-cash: 38.44%
• DSCR: 2.71
• GRM: 4.2

CMA / ARV

• ARV (median comp): $136,776
• List price: $44,900
• Delta: -67.17%
• 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
502 Lombard St	0.49mi	3/1.0	1,170 (+2%)	9mo	$166,000	$142	65
1008 Maple St	0.27mi	3/1.0	1,088 (-6%)	14mo	$167,000	$153	65
1018 Burr Oak St	0.12mi	2/1.0 (-1)	1,000 (-13%)	2mo	$109,000	$109	64
1018 Hall St	0.17mi	3/1.0	1,016 (-12%)	8mo	$167,000	$164	63
1306 Franklin Ave	0.44mi	3/1.0	1,049 (-9%)	1mo	$95,000	$91	62
406 N Mingo St	0.52mi	3/1.0	1,128 (-2%)	13mo	$131,000	$116	59
310 Fitch St	0.57mi	3/1.5	1,232 (+7%)	4mo	$200,000	$162	59
515 Maple Rdg	0.32mi	4/1.5 (+1)	1,242 (+8%)	10mo	$160,000	$129	58
1033 N Clark St	0.23mi	4/1.0 (+1)	1,056 (-8%)	12mo	$47,000	$45	58
604 Burr Oak St	0.45mi	3/1.0	1,304 (+13%)	2mo	$105,000	$81	54
308 E Broadwell St	0.52mi	3/2.0	1,224 (+6%)	16mo	$147,000	$120	50
810 N Superior St	0.67mi	2/1.0 (-1)	1,104 (-4%)	11mo	$94,900	$86	45

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: 27.2%
• Equity multiple: 2.13×
• Total profit: $14,195
• Equity at exit: $6,695

10-year hold

• IRR: 34.8%
• Equity multiple: 4.19×
• Total profit: $40,148
• 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 49224

• Home prices YoY: -24.9%
• Active inventory: 134
• Price-to-rent: 4.2×

Monthly cashflow live

• Estimated rent: $895 medium
• Mortgage (P&I): −$235
• Tax from tax record: −$50 /mo · $601/yr
• Insurance: −$19
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$188
• Net cashflow: $336

Break-even live

Break-even rent $469

Max offer price $44,900

Occupancy floor 57%

Sensitivity live

Price	-10% $362	-5% $349	+0% $336	+5% $324	+10% $311
Rent	-10% $266	-5% $301	+0% $336	+5% $372	+10% $407
Rate	-1.0pp $359	-0.5pp $348	base $336	+0.5pp $325	+1.0pp $313

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: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
313 E North St Albion, MI	2.0	1.0	820	$895	$1.09	44d	1	0.43mi

Listing history 32 events

1. 2026-06-19
   days on market $44,900 Active 36 DOM
2. 2026-06-18
   days on market $44,900 Active 35 DOM
3. 2026-06-17
   days on market $44,900 Active 34 DOM
4. 2026-06-16
   days on market $44,900 Active 33 DOM
5. 2026-06-15
   days on market $44,900 Active 32 DOM
6. 2026-06-14
   pricedays on market $44,900 Active 30 DOM

   Show marketing remark (44 chars)

   3bedroom, 1.5bathroom fixer upper in Albion.

7. 2026-06-13
   days on market $49,900 Active 29 DOM

   Show marketing remark (44 chars)

   3bedroom, 1.5bathroom fixer upper in Albion.

8. 2026-06-10
   days on market $49,900 Active 27 DOM
9. 2026-06-09
   days on market $49,900 Active 26 DOM
10. 2026-06-08
    days on market $49,900 Active 25 DOM
11. 2026-06-07
    pricedays on market $49,900 Active 24 DOM

    Show marketing remark (44 chars)

    3bedroom, 1.5bathroom fixer upper in Albion.

12. 2026-06-05
    days on market $54,900 Active 21 DOM
13. 2026-06-03
    days on market $54,900 Active 20 DOM
14. 2026-06-02
    days on market $54,900 Active 19 DOM
15. 2026-06-01
    days on market $54,900 Active 18 DOM
16. 2026-05-31
    days on market $54,900 Active 17 DOM
17. 2026-05-30
    days on market $54,900 Active 16 DOM
18. 2026-05-14
    listed $59,900 Active 44-char remark

    Show marketing remark (44 chars)

    3bedroom, 1.5bathroom fixer upper in Albion.

19. 2026-05-14
    listed $59,900 Active 44-char remark

    Show marketing remark (44 chars)

    3bedroom, 1.5bathroom fixer upper in Albion.

20. 2026-05-14
    listed $59,900 Active

    Show marketing remark (44 chars)

    3bedroom, 1.5bathroom fixer upper in Albion.

21. 2014-09-18
    historical
22. 2011-09-21
    soldstatus $30,000
23. 2011-09-21
    soldstatus $30,000
24. 2011-09-21
    soldstatus $30,000
25. 2011-09-21
    soldstatus $30,000
26. 2011-09-21
    listed $49,900
27. 2011-09-21
    listed $49,900
28. 2010-11-19
    listed $49,900
29. 2010-11-19
    listed $49,900
30. 2010-11-18
    historical
31. 2010-06-04
    listed $59,900
32. 2010-06-04
    listed $59,900

ⓘ 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: $601 · $50/mo
• Projected year-2 tax: $646 · $54/mo
• Expected delta: +$45/yr (+$4/mo · 7.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 95% 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,740
• − Mortgage interest: −$2,515
• − Property taxes: −$601
• − Insurance: −$1,022
• − Repairs & maintenance: −$859
• − Management: −$859
• − Depreciation: −$1,306
• Taxable income: $3,577
• Est. tax owed @ 24.0%: −$858
• After-tax cash flow: $3,177/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

-25.0% since first listed

24 events — show timeline

• 2026-06-14 Price Changed $44,900 REALCOMP
• 2026-06-13 Price Changed $44,900 MiRealSource-MiMLS
• 2026-06-13 Price Changed $44,900 SW Michigan MLS
• 2026-06-07 Price Changed $49,900 MiRealSource-MiMLS
• 2026-06-07 Price Changed $49,900 REALCOMP
• 2026-06-07 Price Changed $49,900 SW Michigan MLS
• 2026-05-28 Price Changed $54,900 MiRealSource-MiMLS
• 2026-05-28 Price Changed $54,900 REALCOMP
• 2026-05-28 Price Changed $54,900 SW Michigan MLS
• 2026-05-14 Listed $59,900 SW Michigan MLS
• 2026-05-14 Listed $59,900 MiRealSource-MiMLS
• 2026-05-14 Listed $59,900 REALCOMP
• 2014-09-18 Listing Removed — SW Michigan MLS
• 2011-09-21 Listed $49,900 MiRealSource-MiMLS
• 2011-09-21 Listed $49,900 REALCOMP
• 2011-09-21 Sold (MLS) $30,000 MiRealSource-MiMLS
• 2011-09-21 Sold (MLS) $30,000 REALCOMP
• 2011-09-21 Sold (MLS) $30,000 REALCOMP
• 2011-09-21 Sold (MLS) $30,000 SW Michigan MLS
• 2010-11-19 Listed $49,900 REALCOMP
• 2010-11-19 Listed $49,900 SW Michigan MLS
• 2010-11-18 Listing Removed — REALCOMP
• 2010-06-04 Listed $59,900 REALCOMP
• 2010-06-04 Listed $59,900 SW Michigan MLS

Property tax history

-3.8%/yr

Latest (2025): $601 · -32.6% YoY. Source: county tax records.