803 S Monroe St · Albion, MI 49224

$99,900

4 bd · 2.0 ba · 1,295 sqft · SingleFamily public records · 9 Days on market

Built 1870 3,485 sqft lot Est $135k · 26% under

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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
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• 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

Attention investors and DIY enthusiasts! Multiple exit strategies: finish this remodel then either flip, rent or move in! Home being sold as is.

Key facts

• 3,485 sq ft lot
• Built 1870
• Listed 9 days

Property features AI

Finance

• Other: Above-grade finished area approximately 1,295 (square feet); Lot size approximately 0.08 acres (3,311)
• HOA & community: Homeowners association present

Exterior

• Utilities: Public water; Other sewer service
• Home design: Single-family residence; One and one-half stories; Residential property
• Construction: Built with other construction materials; Slab foundation
• Exterior features: Lot in ORIGINAL PLAT OF THE CITY OF ALBION; Located near E Oak St and River St

Interior

• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating (natural gas); No cooling
• Interior features: Total of 4 rooms

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $492 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 12.2% 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 $691 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 11 sale attempts since 12y ago 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.
• Current owner paid $80k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1870 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,900

Questions for the listing agent

1. Built in 1870 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.44% ✓
• Cap rate: 12.20%
• Cash-on-cash: 21.11%
• DSCR: 1.94
• GRM: 5.8

CMA / ARV

• ARV (on-the-fly): $134,680
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
112 River St	0.10mi	4/2.0	1,337 (+3%)	13mo	$149,900	$112	79
508 Linden Ave	0.19mi	3/1.0 (-1)	1,300 (+0%)	6mo	$135,000	$104	77
108 W Walnut St	0.21mi	3/1.0 (-1)	1,296 (+0%)	11mo	$140,000	$108	72
806 S Eaton St	0.31mi	4/2.0	1,166 (-10%)	7mo	$95,000	$81	63
511 Perry St	0.50mi	4/2.0	1,416 (+9%)	10mo	$221,000	$156	53
310 Fitch St	0.69mi	3/1.5 (-1)	1,232 (-5%)	4mo	$200,000	$162	50
105 S Eaton St	0.48mi	3/2.0 (-1)	1,440 (+11%)	8mo	$36,000	$25	47
305 S Mingo St	0.61mi	3/1.0 (-1)	1,176 (-9%)	3mo	$160,000	$136	45
517 Mechanic St	0.53mi	3/1.0 (-1)	1,424 (+10%)	10mo	$70,000	$49	42
316 Perry St	0.44mi	3/2.0 (-1)	1,115 (-14%)	12mo	$72,500	$65	41
706 N Monroe St	0.73mi	3/2.5 (-1)	1,416 (+9%)	3mo	$25,000	$18	41
711 Orchard	0.73mi	3/1.0 (-1)	1,122 (-13%)	3mo	$65,000	$58	32

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: 13.6%
• Equity multiple: 1.54×
• Total profit: $15,150
• Equity at exit: $14,895

10-year hold

• IRR: 22.4%
• Equity multiple: 2.91×
• Total profit: $53,520
• Equity at exit: $8,638

Cash invested: $27,972 (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: 5.8×

Monthly cashflow live

• Estimated rent: $1,434 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$75 /mo · $900/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$301
• Net cashflow: $492

Break-even live

Break-even rent $811

Max offer price $99,900

Occupancy floor 61%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Listing history 30 events

1. 2026-06-03
   days on market $99,900 Active 9 DOM
2. 2026-06-02
   days on market $99,900 Active 8 DOM
3. 2026-06-01
   days on market $99,900 Active 7 DOM
4. 2026-05-31
   days on market $99,900 Active 6 DOM
5. 2026-05-30
   days on market $99,900 Active 5 DOM
6. 2026-05-25
   listed $99,900 Active

   Show marketing remark (144 chars)

   Attention investors and DIY enthusiasts! Multiple exit strategies: finish this remodel then either flip, rent or move in! Home being sold as is.

7. 2026-05-25
   listed $99,900 Active 144-char remark

   Show marketing remark (144 chars)

   Attention investors and DIY enthusiasts! Multiple exit strategies: finish this remodel then either flip, rent or move in! Home being sold as is.

8. 2020-07-30
   soldstatus $79,900
9. 2020-07-22
   soldstatus $79,900 Sold 488-char remark

   Show marketing remark (488 chars)

   Come sit with your honey by the river at this Beautifully refurbished home in "Move in Condition on the Kalamazoo River across from Victory Park features 3 to 4 bedrooms, 2 full baths, front & back enclosed porches. Many new items including Roof, carpet, vinyl flooring & paint. This home is priced right & won't disappoint. Land contract terms possible for well qualified buyer. * * * This house is back on the market due to buyers inability to purchase. * * *

10. 2020-07-22
    soldstatus $79,900

    Show marketing remark (488 chars)

    Come sit with your honey by the river at this Beautifully refurbished home in "Move in Condition on the Kalamazoo River across from Victory Park features 3 to 4 bedrooms, 2 full baths, front & back enclosed porches. Many new items including Roof, carpet, vinyl flooring & paint. This home is priced right & won't disappoint. Land contract terms possible for well qualified buyer. * * * This house is back on the market due to buyers inability to purchase. * * *

11. 2020-07-22
    soldstatus $79,900 Closed

    Show marketing remark (488 chars)

    Come sit with your honey by the river at this Beautifully refurbished home in "Move in Condition on the Kalamazoo River across from Victory Park features 3 to 4 bedrooms, 2 full baths, front & back enclosed porches. Many new items including Roof, carpet, vinyl flooring & paint. This home is priced right & won't disappoint. Land contract terms possible for well qualified buyer. * * * This house is back on the market due to buyers inability to purchase. * * *

12. 2020-06-05
    historical Keep Showing-Contgcy Appl

    Show marketing remark (488 chars)

    Come sit with your honey by the river at this Beautifully refurbished home in "Move in Condition on the Kalamazoo River across from Victory Park features 3 to 4 bedrooms, 2 full baths, front & back enclosed porches. Many new items including Roof, carpet, vinyl flooring & paint. This home is priced right & won't disappoint. Land contract terms possible for well qualified buyer. * * * This house is back on the market due to buyers inability to purchase. * * *

13. 2020-06-05
    historical Contingent - Continue To Show 488-char remark

    Show marketing remark (488 chars)

    Come sit with your honey by the river at this Beautifully refurbished home in "Move in Condition on the Kalamazoo River across from Victory Park features 3 to 4 bedrooms, 2 full baths, front & back enclosed porches. Many new items including Roof, carpet, vinyl flooring & paint. This home is priced right & won't disappoint. Land contract terms possible for well qualified buyer. * * * This house is back on the market due to buyers inability to purchase. * * *

14. 2020-05-23
    status Active

    Show marketing remark (488 chars)

    Come sit with your honey by the river at this Beautifully refurbished home in "Move in Condition on the Kalamazoo River across from Victory Park features 3 to 4 bedrooms, 2 full baths, front & back enclosed porches. Many new items including Roof, carpet, vinyl flooring & paint. This home is priced right & won't disappoint. Land contract terms possible for well qualified buyer. * * * This house is back on the market due to buyers inability to purchase. * * *

15. 2020-05-23
    status Active 488-char remark

    Show marketing remark (488 chars)

    Come sit with your honey by the river at this Beautifully refurbished home in "Move in Condition on the Kalamazoo River across from Victory Park features 3 to 4 bedrooms, 2 full baths, front & back enclosed porches. Many new items including Roof, carpet, vinyl flooring & paint. This home is priced right & won't disappoint. Land contract terms possible for well qualified buyer. * * * This house is back on the market due to buyers inability to purchase. * * *

16. 2020-03-07
    historical Keep Showing-Contgcy Appl

    Show marketing remark (488 chars)

    Come sit with your honey by the river at this Beautifully refurbished home in "Move in Condition on the Kalamazoo River across from Victory Park features 3 to 4 bedrooms, 2 full baths, front & back enclosed porches. Many new items including Roof, carpet, vinyl flooring & paint. This home is priced right & won't disappoint. Land contract terms possible for well qualified buyer. * * * This house is back on the market due to buyers inability to purchase. * * *

17. 2020-03-07
    historical Contingent - Continue To Show 488-char remark

    Show marketing remark (488 chars)

    Come sit with your honey by the river at this Beautifully refurbished home in "Move in Condition on the Kalamazoo River across from Victory Park features 3 to 4 bedrooms, 2 full baths, front & back enclosed porches. Many new items including Roof, carpet, vinyl flooring & paint. This home is priced right & won't disappoint. Land contract terms possible for well qualified buyer. * * * This house is back on the market due to buyers inability to purchase. * * *

18. 2019-10-16
    price $79,900
19. 2019-10-15
    price $79,900 488-char remark

    Show marketing remark (488 chars)

    Come sit with your honey by the river at this Beautifully refurbished home in "Move in Condition on the Kalamazoo River across from Victory Park features 3 to 4 bedrooms, 2 full baths, front & back enclosed porches. Many new items including Roof, carpet, vinyl flooring & paint. This home is priced right & won't disappoint. Land contract terms possible for well qualified buyer. * * * This house is back on the market due to buyers inability to purchase. * * *

20. 2019-09-23
    listed $85,000 Active 488-char remark

    Show marketing remark (488 chars)

    Come sit with your honey by the river at this Beautifully refurbished home in "Move in Condition on the Kalamazoo River across from Victory Park features 3 to 4 bedrooms, 2 full baths, front & back enclosed porches. Many new items including Roof, carpet, vinyl flooring & paint. This home is priced right & won't disappoint. Land contract terms possible for well qualified buyer. * * * This house is back on the market due to buyers inability to purchase. * * *

21. 2019-09-23
    listed $79,900

    Show marketing remark (488 chars)

    Come sit with your honey by the river at this Beautifully refurbished home in "Move in Condition on the Kalamazoo River across from Victory Park features 3 to 4 bedrooms, 2 full baths, front & back enclosed porches. Many new items including Roof, carpet, vinyl flooring & paint. This home is priced right & won't disappoint. Land contract terms possible for well qualified buyer. * * * This house is back on the market due to buyers inability to purchase. * * *

22. 2019-09-23
    listed $85,000 Active

    Show marketing remark (488 chars)

    Come sit with your honey by the river at this Beautifully refurbished home in "Move in Condition on the Kalamazoo River across from Victory Park features 3 to 4 bedrooms, 2 full baths, front & back enclosed porches. Many new items including Roof, carpet, vinyl flooring & paint. This home is priced right & won't disappoint. Land contract terms possible for well qualified buyer. * * * This house is back on the market due to buyers inability to purchase. * * *

23. 2014-09-24
    soldstatus $5,500
24. 2014-09-24
    soldstatus $5,500
25. 2014-09-16
    historical
26. 2014-07-23
    listed $5,500
27. 2014-07-23
    listed $5,500
28. 2014-07-22
    historical
29. 2014-04-22
    listed $10,000
30. 2014-04-22
    listed $10,000

ⓘ 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: $900 · $75/mo
• Projected year-2 tax: $1,219 · $102/mo
• Expected delta: +$319/yr (+$27/mo · 35.5%)

ⓘ 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: $17,205
• − Mortgage interest: −$5,596
• − Property taxes: −$900
• − Insurance: −$500
• − Repairs & maintenance: −$1,376
• − Management: −$1,376
• − Depreciation: −$2,906
• Taxable income: $4,551
• Est. tax owed @ 24.0%: −$1,092
• After-tax cash flow: $4,814/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

+899.0% since first listed

25 events — show timeline

• 2026-05-25 Listed $99,900 REALCOMP
• 2026-05-25 Listed $99,900 MiRealSource-MiMLS
• 2020-07-30 Sold (Public Records) $79,900 Public Records
• 2020-07-22 Sold (MLS) $79,900 MiRealSource-MiMLS
• 2020-07-22 Sold (MLS) $79,900 SW Michigan MLS
• 2020-07-22 Sold (MLS) $79,900 REALCOMP
• 2020-06-05 Contingent — MiRealSource-MiMLS
• 2020-06-05 Contingent — REALCOMP
• 2020-05-23 Relisted — MiRealSource-MiMLS
• 2020-05-23 Relisted — REALCOMP
• 2020-03-07 Contingent — MiRealSource-MiMLS
• 2020-03-07 Contingent — REALCOMP
• 2019-10-16 Price Changed $79,900 MiRealSource-MiMLS
• 2019-10-15 Price Changed $79,900 REALCOMP
• 2019-09-23 Listed $85,000 MiRealSource-MiMLS
• 2019-09-23 Listed $79,900 SW Michigan MLS
• 2019-09-23 Listed $85,000 REALCOMP
• 2014-09-24 Sold (MLS) $5,500 REALCOMP
• 2014-09-24 Sold (MLS) $5,500 SW Michigan MLS
• 2014-09-16 Listing Removed — SW Michigan MLS
• 2014-07-23 Listed $5,500 REALCOMP
• 2014-07-23 Listed $5,500 SW Michigan MLS
• 2014-07-22 Listing Removed — REALCOMP
• 2014-04-22 Listed $10,000 REALCOMP
• 2014-04-22 Listed $10,000 SW Michigan MLS

Property tax history

+2.9%/yr

Latest (2025): $900 · -32.6% YoY. Source: county tax records.