1103 Sydenham St · Albion, MI 49224

$30,000

5 bd · 2.0 ba · 1,087 sqft · SingleFamily public records · 142 Days on market

Built 1880 3,920 sqft lot $28/sqft · 78% below area ↓ 42% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +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

Investor Opportunity – Duplex with Value-Add Potential | Albion, MI Vacant duplex offering strong upside for investors. Main level can be configured as two bedrooms or one bedroom with living and dining areas. Upper level is drywalled and provides space for up to three additional bedrooms. Property requires renovation throughout and is being sold as-is.

Key facts

• Value-add potential
• Main level
• Vacant duplex

Tags

• DUPLEX
• VALUE-ADD POTENTIAL
• VACANT DUPLEX
• MAIN LEVEL
• UPPER LEVEL
• RENOVATION THROUGHOUT

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $840 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $26k (12.0% below list) — sets the bar for market timing.
• Cap rate 39.9% 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 $207 of loan paydown is wiped out by about $900 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 $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 142 days — a 12% lower offer ($26k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts; this cycle's ask has dropped $35k (54%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $26,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 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 1880 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 4.42% ✓
• Cap rate: 39.88%
• Cash-on-cash: 119.95%
• DSCR: 6.34
• GRM: 1.9

CMA / ARV

• ARV (median comp): $138,660
• List price: $30,000
• Delta: -78.36%
• Verdict: UNDERPRICED
• Comps: 11 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1033 N Clark St	0.64mi	4/1.0 (-1)	1,056 (-3%)	12mo	$47,000	$45	46
515 Maple Rdg	0.38mi	4/1.5 (-1)	1,242 (+14%)	10mo	$160,000	$129	43

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: —
• Equity multiple: 6.79×
• Total profit: $48,638
• Equity at exit: $4,473

10-year hold

• IRR: —
• Equity multiple: 14.25×
• Total profit: $111,298
• Equity at exit: $2,594

Cash invested: $8,400 (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: 1.9×

Monthly cashflow live

• Estimated rent: $1,325 medium
• Mortgage (P&I): −$157
• Tax est. 1.5%: −$38 /mo · $450/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $840

Break-even live

Break-even rent $262

Max offer price $30,000

Occupancy floor 32%

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Listing history 32 events

1. 2026-06-19
   days on market $30,000 Active 142 DOM
2. 2026-06-18
   days on market $30,000 Active 141 DOM
3. 2026-06-17
   days on market $30,000 Active 140 DOM
4. 2026-06-16
   days on market $30,000 Active 139 DOM
5. 2026-06-15
   price $30,000 Active 138 DOM
6. 2026-06-15
   days on market $38,000 Active 138 DOM
7. 2026-06-14
   days on market $38,000 Active 136 DOM
8. 2026-06-13
   days on market $38,000 Active 135 DOM
9. 2026-06-10
   days on market $38,000 Active 133 DOM
10. 2026-06-09
    days on market $38,000 Active 132 DOM
11. 2026-06-08
    days on market $38,000 Active 131 DOM
12. 2026-06-07
    days on market $38,000 Active 130 DOM
13. 2026-06-05
    days on market $38,000 Active 127 DOM
14. 2026-06-03
    days on market $38,000 Active 126 DOM
15. 2026-06-02
    days on market $38,000 Active 125 DOM
16. 2026-06-01
    days on market $38,000 Active 124 DOM
17. 2026-05-31
    days on market $38,000 Active 123 DOM
18. 2026-05-30
    days on market $38,000 Active 122 DOM
19. 2026-05-12
    price $38,000 362-char remark

    Show marketing remark (362 chars)

    Investor Opportunity – Duplex with Value-Add Potential | Albion, MI Vacant duplex offering strong upside for investors. Main level can be configured as two bedrooms or one bedroom with living and dining areas. Upper level is drywalled and provides space for up to three additional bedrooms. Property requires renovation throughout and is being sold as-is.

20. 2026-05-11
    price $38,000 370-char remark

    Show marketing remark (370 chars)

    Investor Opportunity "“ Duplex with Value-Add Potential \ Albion, MI Vacant duplex offering strong upside for investors. Main level can be configured as two bedrooms or one bedroom with living and dining areas. Upper level is drywalled and provides space for up to three additional bedrooms. Property requires renovation throughout and is being sold as-is.

21. 2026-03-31
    status Active 370-char remark

    Show marketing remark (370 chars)

    Investor Opportunity "“ Duplex with Value-Add Potential \ Albion, MI Vacant duplex offering strong upside for investors. Main level can be configured as two bedrooms or one bedroom with living and dining areas. Upper level is drywalled and provides space for up to three additional bedrooms. Property requires renovation throughout and is being sold as-is.

22. 2026-03-27
    historical 370-char remark

    Show marketing remark (370 chars)

    Investor Opportunity "“ Duplex with Value-Add Potential \ Albion, MI Vacant duplex offering strong upside for investors. Main level can be configured as two bedrooms or one bedroom with living and dining areas. Upper level is drywalled and provides space for up to three additional bedrooms. Property requires renovation throughout and is being sold as-is.

23. 2026-03-24
    status Active 370-char remark

    Show marketing remark (362 chars)

    Investor Opportunity – Duplex with Value-Add Potential | Albion, MI Vacant duplex offering strong upside for investors. Main level can be configured as two bedrooms or one bedroom with living and dining areas. Upper level is drywalled and provides space for up to three additional bedrooms. Property requires renovation throughout and is being sold as-is.

24. 2026-03-24
    status Active 362-char remark

    Show marketing remark (362 chars)

    Investor Opportunity – Duplex with Value-Add Potential | Albion, MI Vacant duplex offering strong upside for investors. Main level can be configured as two bedrooms or one bedroom with living and dining areas. Upper level is drywalled and provides space for up to three additional bedrooms. Property requires renovation throughout and is being sold as-is.

25. 2026-03-14
    historical 362-char remark

    Show marketing remark (370 chars)

    Investor Opportunity "“ Duplex with Value-Add Potential \ Albion, MI Vacant duplex offering strong upside for investors. Main level can be configured as two bedrooms or one bedroom with living and dining areas. Upper level is drywalled and provides space for up to three additional bedrooms. Property requires renovation throughout and is being sold as-is.

26. 2026-03-14
    historical 370-char remark

    Show marketing remark (370 chars)

    Investor Opportunity "“ Duplex with Value-Add Potential \ Albion, MI Vacant duplex offering strong upside for investors. Main level can be configured as two bedrooms or one bedroom with living and dining areas. Upper level is drywalled and provides space for up to three additional bedrooms. Property requires renovation throughout and is being sold as-is.

27. 2026-02-18
    price $45,000 362-char remark

    Show marketing remark (362 chars)

    Investor Opportunity – Duplex with Value-Add Potential | Albion, MI Vacant duplex offering strong upside for investors. Main level can be configured as two bedrooms or one bedroom with living and dining areas. Upper level is drywalled and provides space for up to three additional bedrooms. Property requires renovation throughout and is being sold as-is.

28. 2026-02-17
    price $45,000 370-char remark

    Show marketing remark (370 chars)

    Investor Opportunity "“ Duplex with Value-Add Potential \ Albion, MI Vacant duplex offering strong upside for investors. Main level can be configured as two bedrooms or one bedroom with living and dining areas. Upper level is drywalled and provides space for up to three additional bedrooms. Property requires renovation throughout and is being sold as-is.

29. 2026-01-22
    price $55,000 362-char remark

    Show marketing remark (370 chars)

    Investor Opportunity "“ Duplex with Value-Add Potential \ Albion, MI Vacant duplex offering strong upside for investors. Main level can be configured as two bedrooms or one bedroom with living and dining areas. Upper level is drywalled and provides space for up to three additional bedrooms. Property requires renovation throughout and is being sold as-is.

30. 2026-01-22
    price $55,000 370-char remark

    Show marketing remark (370 chars)

    Investor Opportunity "“ Duplex with Value-Add Potential \ Albion, MI Vacant duplex offering strong upside for investors. Main level can be configured as two bedrooms or one bedroom with living and dining areas. Upper level is drywalled and provides space for up to three additional bedrooms. Property requires renovation throughout and is being sold as-is.

31. 2026-01-14
    listed $65,000 Active 362-char remark

    Show marketing remark (370 chars)

    Investor Opportunity "“ Duplex with Value-Add Potential \ Albion, MI Vacant duplex offering strong upside for investors. Main level can be configured as two bedrooms or one bedroom with living and dining areas. Upper level is drywalled and provides space for up to three additional bedrooms. Property requires renovation throughout and is being sold as-is.

32. 2026-01-14
    listed $65,000 Active 370-char remark

    Show marketing remark (370 chars)

    Investor Opportunity "“ Duplex with Value-Add Potential \ Albion, MI Vacant duplex offering strong upside for investors. Main level can be configured as two bedrooms or one bedroom with living and dining areas. Upper level is drywalled and provides space for up to three additional bedrooms. Property requires renovation throughout and is being sold as-is.

ⓘ 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 6/10 Major FEMA zone X (unshaded) · 67% 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: $15,904
• − Mortgage interest: −$1,680
• − Property taxes: −$450
• − Insurance: −$150
• − Repairs & maintenance: −$1,272
• − Management: −$1,272
• − Depreciation: −$873
• Taxable income: $10,206
• Est. tax owed @ 24.0%: −$2,449
• After-tax cash flow: $7,627/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

-41.5% since first listed

14 events — show timeline

• 2026-05-12 Price Changed $38,000 MiRealSource-MiMLS
• 2026-05-11 Price Changed $38,000 REALCOMP
• 2026-03-31 Relisted — REALCOMP
• 2026-03-27 Listing Removed — REALCOMP
• 2026-03-24 Relisted — REALCOMP
• 2026-03-24 Relisted — MiRealSource-MiMLS
• 2026-03-14 Listing Removed — REALCOMP
• 2026-03-14 Listing Removed — MiRealSource-MiMLS
• 2026-02-18 Price Changed $45,000 MiRealSource-MiMLS
• 2026-02-17 Price Changed $45,000 REALCOMP
• 2026-01-22 Price Changed $55,000 MiRealSource-MiMLS
• 2026-01-22 Price Changed $55,000 REALCOMP
• 2026-01-14 Listed $65,000 REALCOMP
• 2026-01-14 Listed $65,000 MiRealSource-MiMLS

Property tax history

+26.0%/yr

Latest (2025): $2,985 · +53.7% YoY. Source: county tax records.