1112 Wiener Dr · Albion, MI 49224

$89,100

3 bd · 2.0 ba · 920 sqft · SingleFamily public records · 253 Days on market

Built 1959 8,276 sqft lot $97/sqft · 26% below area Est $121k · 26% under

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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 +22.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +5.0/10.0
• 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

Great Opportunity to own this single-family home built in 1959 featuring 3 bedrooms and 1 bathrooms. * * * SPECIAL NOTES: (1) This is a CASH ONLY transaction. (2) Seller to pay Taxes, HOA, and Municipal/Utility Liens. (3) Please read the Auction disclaimers carefully before placing a bid or submitting an offer. * * * Reserve Auction--The seller does not have access to the property. Interior inspections are not available and property is being sold as is. Please do not trespass. "As is" sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing.

Key facts

• 8,276 sq ft lot
• 2 garage spots
• Built 1959

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $146 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($895 rent vs $89k).
• Recommended offer: $78k (12.0% below list) — sets the bar for market timing.

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 $616 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.

Negotiation context

• It's been on market 253 days — a 12% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $78,408 (12.0% below list)

Questions for the listing agent

1. It's been on market 253 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 1959 — 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: 1.00% ✓
• Cap rate: 8.26%
• Cash-on-cash: 7.01%
• DSCR: 1.31
• GRM: 8.3

CMA / ARV

• ARV (median comp): $120,904
• List price: $89,100
• Delta: -26.31%
• 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
1109 Wiener Dr	0.04mi	2/2.0 (-1)	936 (+2%)	3mo	$155,000	$166	88
1109 Terpenning St	0.12mi	2/1.0 (-1)	880 (-4%)	9mo	$109,900	$125	70
1009 N Berrien St	0.38mi	2/1.5 (-1)	884 (-4%)	10mo	$145,000	$164	60
1511 Dean Dr	0.49mi	3/1.0	864 (-6%)	8mo	$60,000	$69	56
1514 Dean Dr	0.47mi	3/1.0	864 (-6%)	11mo	$150,000	$174	55
1201 Chauncey St	0.37mi	2/1.0 (-1)	1,048 (+14%)	1mo	$67,000	$64	50
903 N Ionia St	0.42mi	2/1.0 (-1)	848 (-8%)	11mo	$80,000	$94	49
705 Cooper Ct	0.43mi	3/1.0	815 (-11%)	11mo	$100,000	$123	48
1018 Burr Oak St	0.61mi	2/1.0 (-1)	1,000 (+9%)	2mo	$109,000	$109	47
1018 Hall St	0.55mi	3/1.0	1,016 (+10%)	8mo	$167,000	$164	46
813 Prospect St	0.55mi	2/1.0 (-1)	840 (-9%)	8mo	$115,000	$137	44
1014 Hall St	0.57mi	2/1.0 (-1)	816 (-11%)	5mo	$88,900	$109	41

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: -5.6%
• Equity multiple: 0.79×
• Total profit: $-5,178
• Equity at exit: $13,285

10-year hold

• IRR: 4.1%
• Equity multiple: 1.29×
• Total profit: $7,359
• Equity at exit: $7,704

Cash invested: $24,948 (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: 8.3×

Monthly cashflow live

• Estimated rent: $895 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$57 /mo · $684/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$188
• Net cashflow: $146

Break-even live

Break-even rent $711

Max offer price $89,100

Occupancy floor 79%

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: $22,275
• Closing costs: $2,673
• 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	0.39mi

Listing history 19 events

1. 2026-06-19
   days on market $89,100 Active 253 DOM
2. 2026-06-18
   days on market $89,100 Active 252 DOM
3. 2026-06-17
   days on market $89,100 Active 251 DOM
4. 2026-06-16
   days on market $89,100 Active 250 DOM
5. 2026-06-15
   days on market $89,100 Active 249 DOM
6. 2026-06-14
   days on market $89,100 Active 247 DOM
7. 2026-06-13
   days on market $89,100 Active 246 DOM
8. 2026-06-10
   days on market $89,100 Active 244 DOM
9. 2026-06-09
   days on market $89,100 Active 243 DOM
10. 2026-06-08
    days on market $89,100 Active 242 DOM
11. 2026-06-07
    days on market $89,100 Active 241 DOM
12. 2026-06-05
    days on market $89,100 Active 238 DOM
13. 2026-06-03
    days on market $89,100 Active 237 DOM
14. 2026-06-02
    days on market $89,100 Active 236 DOM
15. 2026-06-01
    days on market $89,100 Active 235 DOM
16. 2026-05-31
    days on market $89,100 Active 234 DOM
17. 2026-05-30
    days on market $89,100 Active 233 DOM
18. 2025-10-09
    listed $89,100 Active 630-char remark

    Show marketing remark (628 chars)

    Great Opportunity to own this single-family home built in 1959 featuring 3 bedrooms and 1 bathrooms. * * * SPECIAL NOTES: (1) This is a CASH ONLY transaction. (2) Seller to pay Taxes, HOA, and Municipal/Utility Liens. (3) Please read the Auction disclaimers carefully before placing a bid or submitting an offer. * * * Reserve Auction--The seller does not have access to the property. Interior inspections are not available and property is being sold as is. Please do not trespass. "As is" sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing.

19. 2025-10-09
    listed $89,100 Active 628-char remark

    Show marketing remark (628 chars)

    Great Opportunity to own this single-family home built in 1959 featuring 3 bedrooms and 1 bathrooms. * * * SPECIAL NOTES: (1) This is a CASH ONLY transaction. (2) Seller to pay Taxes, HOA, and Municipal/Utility Liens. (3) Please read the Auction disclaimers carefully before placing a bid or submitting an offer. * * * Reserve Auction--The seller does not have access to the property. Interior inspections are not available and property is being sold as is. Please do not trespass. "As is" sale with no contingencies or inspections. Buyer will be responsible for obtaining possession of the property upon closing.

ⓘ 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: $684 · $57/mo
• Projected year-2 tax: $1,028 · $86/mo
• Expected delta: +$344/yr (+$29/mo · 50.3%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 67% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $10,740
• − Mortgage interest: −$4,991
• − Property taxes: −$684
• − Insurance: −$446
• − Repairs & maintenance: −$859
• − Management: −$859
• − Depreciation: −$2,592
• Taxable income: $309
• Est. tax owed @ 24.0%: −$74
• After-tax cash flow: $1,674/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

+0.0% since first listed

2 events — show timeline

• 2025-10-09 Listed $89,100 REALCOMP
• 2025-10-09 Listed $89,100 MiRealSource-MiMLS

Property tax history

-3.8%/yr

Latest (2025): $684 · -32.6% YoY. Source: county tax records.