1163 Salvia Dr #158 · Albion, MI 49224

$72,725

3 bd · 2.0 ba · 1,056 sqft · Manufactured · 37 Days on market

Built 2026 Good condition

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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
• Condition / age +4.0/5.0
• Livability +3.5/5.0
• Schools +3.1/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

$3999 Down Payment + Live FREE for 1 Month Open concept floorplan Designer Kitchen with 42" cabinets and Island (Island not featured in the photos) Stainless Steel Appliances Energy Star Home Modern recessed lighting throughout Spacious laundry room Private primary suite with oversized shower Financing offered through First Choice MH LLC, a licensed mortgage loan originator in the State of Michigan, Ohio, Texas, Indiana and Illinois . Main office 600 W. 22nd Street Suite 101 Oak Brook, IL 60523. NMLS# 1241272. Equal Housing Lender. Estimated monthly payment based on price of $72,725, 10.55 APR, $2999 Down or Down Payment Amount, 360 payments of $1,170, includes Site Rent, insurance or

Key facts

• Built 2026
• Listed 36 days

Property features AI

Finance

• Other: Address: 1163 Salvia Dr #158, Albion, MI 49224; Listing status: Active
• Financial info: List price provided

Exterior

• Utilities: Forced air heating; Central air conditioning
• Home design: Spec home — Clayton Cornerstone plan; Single-level living area of 1,056 (living area provided)
• Exterior features: Asphalt roof

Interior

• Kitchen: Includes dishwasher and refrigerator
• Bedrooms: 3 bedrooms
• Bathrooms: 2 bathrooms
• Heating & cooling: Forced air heating; Central air; Ceiling fan(s)
• Interior features: Dishwasher; Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $73k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $533 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $73k).
• Recommended offer: $71k (3.0% below list) — sets the bar for market timing.
• Cap rate 15.1% 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; 2 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 $503 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 $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($71k) is reasonable based on typical stale-listing flexibility.

Recommended offer $70,543 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
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: 1.80% ✓
• Cap rate: 15.08%
• Cash-on-cash: 31.39%
• DSCR: 2.40
• GRM: 4.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.3%
• Equity multiple: 2.09×
• Total profit: $22,165
• Equity at exit: $10,844

10-year hold

• IRR: 33.9%
• Equity multiple: 4.10×
• Total profit: $63,071
• Equity at exit: $6,288

Cash invested: $20,363 (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: 4.6×

Monthly cashflow live

• Estimated rent: $1,311 medium
• Mortgage (P&I): −$381
• Tax est. 1.5%: −$91 /mo · $1,091/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$275
• Net cashflow: $533

Break-even live

Break-even rent $636

Max offer price $72,725

Occupancy floor 54%

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: $18,181
• Closing costs: $2,182
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1200 Westover Blvd Albion, MI	3.0–4.0	2.0	1456	$1,379	$0.95	44d	4	0.21mi
313 E North St Albion, MI	2.0	1.0	820	$895	$1.09	44d	1	1.36mi

Listing history 18 events

1. 2026-06-19
   days on market $72,725 Active 37 DOM
2. 2026-06-18
   days on market $72,725 Active 36 DOM
3. 2026-06-17
   days on market $72,725 Active 35 DOM
4. 2026-06-16
   days on market $72,725 Active 34 DOM
5. 2026-06-15
   days on market $72,725 Active 33 DOM
6. 2026-06-14
   days on market $72,725 Active 31 DOM
7. 2026-06-13
   days on market $72,725 Active 30 DOM
8. 2026-06-10
   days on market $72,725 Active 28 DOM
9. 2026-06-09
   days on market $72,725 Active 27 DOM
10. 2026-06-08
    days on market $72,725 Active 26 DOM
11. 2026-06-07
    days on market $72,725 Active 25 DOM
12. 2026-06-05
    days on market $72,725 Active 22 DOM
13. 2026-06-03
    days on market $72,725 Active 21 DOM
14. 2026-06-02
    days on market $72,725 Active 20 DOM
15. 2026-06-01
    days on market $72,725 Active 19 DOM
16. 2026-05-31
    days on market $72,725 Active 18 DOM
17. 2026-05-30
    days on market $72,725 Active 17 DOM
18. 2026-05-14
    listed $72,725 Active 906-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 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: $15,726
• − Mortgage interest: −$4,074
• − Property taxes: −$1,091
• − Insurance: −$364
• − Repairs & maintenance: −$1,258
• − Management: −$1,258
• − Depreciation: −$2,116
• Taxable income: $5,566
• Est. tax owed @ 24.0%: −$1,336
• After-tax cash flow: $5,057/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.

Condition & rehab AI · 8 photos

Good 80/100 Cosmetic rehab

This home is in good condition with a modern and well-maintained interior. It has a good potential for value increase with minor updates and improvements.

Value-add opportunities

• Both Painting the interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics.
• Both Upgrading the kitchen island — The island is not featured in the photos but is mentioned in the listing. Adding a kitchen island can increase functionality and value.
• Both Landscaping improvements — Enhancing the landscaping can improve the home's curb appeal and attract more potential buyers/tenants.
• Both Adding smart home features — Smart home features can increase the home's appeal and value, especially for younger buyers/tenants.
• Both Upgrading the HVAC system — A newer, more efficient HVAC system can improve comfort and energy efficiency, which is beneficial for both resale and rental value.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the interior walls — Fresh paint can enhance the home's curb appeal and interior aesthetics. ↑
• Both Upgrading the kitchen island — The island is not featured in the photos but is mentioned in the listing. Adding a kitchen island can increase functionality and value. ↑
• Both Landscaping improvements — Enhancing the landscaping can improve the home's curb appeal and attract more potential buyers/tenants. ↑
• Both Adding smart home features — Smart home features can increase the home's appeal and value, especially for younger buyers/tenants. ↑
• Both Upgrading the HVAC system — A newer, more efficient HVAC system can improve comfort and energy efficiency, which is beneficial for both resale and rental value. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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