609 W Center St · Albion, MI 49224

$69,000

4 bd · 1.0 ba · 1,400 sqft · SingleFamily public records · 128 Days on market

Built 1930 8,712 sqft lot $49/sqft · 36% below area Est $108k · 36% 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
• 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
• Appreciation +0.0/10.0

Listing remarks MLS

Come check out this spacious 4 bedroom, 2 bathroom home in Albion. This home offers a two car attached garage and a huge backyard. This home is priced to sell, so don't wait to schedule your showing.

Key facts

• 8,712 sq ft lot
• 2 garage spots
• Built 1930

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $750 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $69k).
• Recommended offer: $61k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.3% vs local median 8.3% 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+, crime 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.
• Zoned schools: Marshall Middle School (math 22% / reading 40%, grade F, #329 of 493 statewide, top 67%, 547 students, 50% FRL).
• Market conditions: 136 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 $477 of loan paydown is wiped out by about $2k 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 $19k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($61k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 10y ago; this cycle's ask has dropped $13k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $14k; list at $69k implies a 411% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $60,720 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 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 1930 — 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: 2.18% ✓
• Cap rate: 19.33%
• Cash-on-cash: 46.57%
• DSCR: 3.07
• GRM: 3.8

CMA / ARV

• ARV (median comp): $108,117
• List price: $69,000
• Delta: -36.18%
• 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
105 S Eaton St	0.29mi	3/2.0 (-1)	1,440 (+3%)	8mo	$36,000	$25	66
517 Mechanic St	0.40mi	3/1.0 (-1)	1,424 (+2%)	10mo	$70,000	$49	65
512 Austin Ave	0.60mi	4/1.5	1,344 (-4%)	1mo	$95,000	$71	63
614 N Ann St	0.41mi	3/1.5 (-1)	1,500 (+7%)	4mo	$89,000	$59	59
212 W Ash St	0.33mi	3/1.0 (-1)	1,564 (+12%)	8mo	$47,000	$30	53
108 W Walnut St	0.46mi	3/1.0 (-1)	1,296 (-7%)	11mo	$140,000	$108	52
706 N Monroe St	0.72mi	3/2.5 (-1)	1,416 (+1%)	3mo	$25,000	$18	51
112 River St	0.61mi	4/2.0	1,337 (-4%)	13mo	$149,900	$112	49
806 N Eaton St	0.60mi	3/1.0 (-1)	1,248 (-11%)	3mo	$125,000	$100	46
901 N Ionia St	0.74mi	4/2.0	1,470 (+5%)	11mo	$175,000	$119	44
415 E Cass St	0.71mi	3/2.0 (-1)	1,494 (+7%)	9mo	$179,000	$120	39
412 Perry St	0.71mi	3/1.5 (-1)	1,298 (-7%)	15mo	$119,900	$92	35

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: 43.8%
• Equity multiple: 2.89×
• Total profit: $36,572
• Equity at exit: $10,288

10-year hold

• IRR: 49.8%
• Equity multiple: 5.83×
• Total profit: $93,330
• Equity at exit: $5,966

Cash invested: $19,320 (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: 136
• Price-to-rent: 3.8×

Monthly cashflow live

• Estimated rent: $1,501 medium
• Mortgage (P&I): −$362
• Tax from tax record: −$45 /mo · $545/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$315
• Net cashflow: $750

Break-even live

Break-even rent $552

Max offer price $69,000

Occupancy floor 45%

Sensitivity live

Price	-10% $789	-5% $769	+0% $750	+5% $730	+10% $711
Rent	-10% $631	-5% $691	+0% $750	+5% $809	+10% $868
Rate	-1.0pp $785	-0.5pp $767	base $750	+0.5pp $732	+1.0pp $714

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: $17,250
• Closing costs: $2,070
• 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	46d	4	1.49mi

Listing history 42 events

1. 2026-06-23
   days on market $69,000 Active 128 DOM
2. 2026-06-22
   days on market $69,000 Active 127 DOM
3. 2026-06-19
   days on market $69,000 Active 125 DOM
4. 2026-06-18
   days on market $69,000 Active 124 DOM
5. 2026-06-17
   price $69,000 Active 123 DOM
6. 2026-06-17
   days on market $82,000 Active 123 DOM
7. 2026-06-16
   days on market $82,000 Active 122 DOM
8. 2026-06-15
   days on market $82,000 Active 121 DOM
9. 2026-06-14
   days on market $82,000 Active 119 DOM
10. 2026-06-13
    days on market $82,000 Active 118 DOM
11. 2026-06-10
    days on market $82,000 Active 116 DOM
12. 2026-06-09
    days on market $82,000 Active 115 DOM
13. 2026-06-08
    days on market $82,000 Active 114 DOM
14. 2026-06-07
    days on market $82,000 Active 113 DOM
15. 2026-06-05
    days on market $82,000 Active 110 DOM
16. 2026-06-03
    days on market $82,000 Active 109 DOM
17. 2026-06-02
    days on market $82,000 Active 108 DOM
18. 2026-06-01
    days on market $82,000 Active 107 DOM
19. 2026-05-31
    days on market $82,000 Active 106 DOM
20. 2026-05-30
    days on market $82,000 Active 105 DOM
21. 2026-02-14
    listed $82,000 Active 199-char remark

    Show marketing remark (199 chars)

    Come check out this spacious 4 bedroom, 2 bathroom home in Albion. This home offers a two car attached garage and a huge backyard. This home is priced to sell, so don't wait to schedule your showing.

22. 2026-02-14
    listed $82,000 Active 199-char remark

    Show marketing remark (199 chars)

    Come check out this spacious 4 bedroom, 2 bathroom home in Albion. This home offers a two car attached garage and a huge backyard. This home is priced to sell, so don't wait to schedule your showing.

23. 2026-02-14
    listed $82,000 Active

    Show marketing remark (199 chars)

    Come check out this spacious 4 bedroom, 2 bathroom home in Albion. This home offers a two car attached garage and a huge backyard. This home is priced to sell, so don't wait to schedule your showing.

24. 2017-06-13
    soldstatus $13,500
25. 2017-06-13
    soldstatus $13,500 Sold
26. 2017-05-17
    status Pending
27. 2017-04-28
    price $13,500
28. 2017-04-03
    listed $13,500
29. 2017-03-27
    listed $14,500 Active
30. 2017-03-24
    listed $13,500
31. 2017-03-14
    listed $14,904 Active
32. 2017-03-14
    soldstatus $4,300
33. 2017-03-14
    soldstatus $4,300 Sold
34. 2017-03-14
    listed $14,904
35. 2016-12-12
    historical
36. 2016-12-12
    historical
37. 2016-11-10
    price $14,904
38. 2016-09-09
    price $16,560
39. 2016-08-09
    price $18,400
40. 2016-07-07
    price $20,700
41. 2016-05-18
    listed $23,000 Active
42. 2016-05-18
    listed $14,904

ⓘ 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: $545 · $45/mo
• Projected year-2 tax: $804 · $67/mo
• Expected delta: +$259/yr (+$22/mo · 47.6%)

ⓘ 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: $18,012
• − Mortgage interest: −$3,865
• − Property taxes: −$545
• − Insurance: −$345
• − Repairs & maintenance: −$1,441
• − Management: −$1,441
• − Depreciation: −$2,007
• Taxable income: $8,368
• Est. tax owed @ 24.0%: −$2,008
• After-tax cash flow: $6,989/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

+450.2% since first listed

22 events — show timeline

• 2026-02-14 Listed $82,000 REALCOMP
• 2026-02-14 Listed $82,000 SW Michigan MLS
• 2026-02-14 Listed $82,000 MiRealSource-MiMLS
• 2017-06-13 Sold (MLS) $13,500 SW Michigan MLS
• 2017-06-13 Sold (MLS) $13,500 REALCOMP
• 2017-05-17 Pending — SW Michigan MLS
• 2017-04-28 Price Changed $13,500 SW Michigan MLS
• 2017-04-03 Listed $13,500 REALCOMP
• 2017-03-27 Listed $14,500 SW Michigan MLS
• 2017-03-24 Listed $13,500 REALCOMP
• 2017-03-14 Listed $14,904 SW Michigan MLS
• 2017-03-14 Listed $14,904 REALCOMP
• 2017-03-14 Sold (MLS) $4,300 SW Michigan MLS
• 2017-03-14 Sold (MLS) $4,300 REALCOMP
• 2016-12-12 Listing Removed — SW Michigan MLS
• 2016-12-12 Listing Removed — REALCOMP
• 2016-11-10 Price Changed $14,904 SW Michigan MLS
• 2016-09-09 Price Changed $16,560 SW Michigan MLS
• 2016-08-09 Price Changed $18,400 SW Michigan MLS
• 2016-07-07 Price Changed $20,700 SW Michigan MLS
• 2016-05-18 Listed $23,000 SW Michigan MLS
• 2016-05-18 Listed $14,904 REALCOMP

Property tax history

-9.9%/yr

Latest (2025): $545 · -50.5% YoY. Source: county tax records.