607 E North St · Albion, MI 49224

$110,000

3 bd · 1.0 ba · 864 sqft · SingleFamily public records · 3 Days on market

Built 1964 6,795 sqft lot Est $118k · 7% under

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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 +15.6/30.0
• ARV discount +10.7/15.0
• DSCR +4.8/10.0
• Livability +3.5/5.0
• 1% rule +3.1/10.0
• 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

Cute as a button and ready for its next owner. 607 East North Street is a solid 3 bedroom 1 bathroom that's been well loved by it's previous owner for many years. At this affordable starting point, you'll have funds to make improvements and not break the bank!

Key facts

• 6,795 sq ft lot
• Built 1964
• Listed 3 days

Property features AI

Exterior

• Utilities: Public water service
• Home design: Ranch-style single family home; Built in 1964
• Construction: Aluminum siding
• Exterior features: Public water

Interior

• Bathrooms: One full bathroom
• Heating & cooling: Forced air heating
• Interior features: Six total rooms; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $47 ($564/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $90k (18.6% below list).
• Recommended offer: $90k (18.6% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 8.5% in Albion — below-typical yield; the buyer is paying a premium for something (appreciation thesis, condition, location) that the cap rate doesn't capture.

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: 137 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 $761 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $89,500 (18.6% below list)

Questions for the listing agent

1. Built in 1964 — 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. 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?
6. 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.
7. 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.
8. 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: 0.81% ✗
• Cap rate: 6.81%
• Cash-on-cash: 1.83%
• DSCR: 1.08
• GRM: 10.2

CMA / ARV

• ARV (on-the-fly): $118,368
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1014 Hall St	0.12mi	2/1.0 (-1)	816 (-6%)	6mo	$88,900	$109	76
813 Prospect St	0.20mi	2/1.0 (-1)	840 (-3%)	8mo	$115,000	$137	75
1009 N Berrien St	0.16mi	2/1.5 (-1)	884 (+2%)	10mo	$145,000	$164	74
903 N Ionia St	0.33mi	2/1.0 (-1)	848 (-2%)	11mo	$80,000	$94	67
1020 Hall St	0.14mi	2/1.0 (-1)	816 (-6%)	15mo	$115,875	$142	66
1109 Terpenning St	0.42mi	2/1.0 (-1)	880 (+2%)	9mo	$109,900	$125	65
905 E Broadwell St	0.33mi	3/1.0	936 (+8%)	15mo	$147,000	$157	58
1023 N Mingo St	0.32mi	3/1.0	936 (+8%)	17mo	$94,900	$101	57
1003 E Broadwell St	0.38mi	3/1.0	936 (+8%)	15mo	$137,000	$146	56
1026 N Mingo St	0.35mi	3/1.0	936 (+8%)	18mo	$120,000	$128	55
1109 Wiener Dr	0.55mi	2/2.0 (-1)	936 (+8%)	3mo	$155,000	$166	49
1113 N Eaton St	0.55mi	3/1.5	945 (+9%)	14mo	$110,000	$116	45

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: -13.4%
• Equity multiple: 0.52×
• Total profit: $-14,882
• Equity at exit: $16,401

10-year hold

• IRR: -4.6%
• Equity multiple: 0.70×
• Total profit: $-9,302
• Equity at exit: $9,511

Cash invested: $30,800 (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: 137
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $895 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$37 /mo · $449/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$188
• Net cashflow: $47

Break-even live

Break-even rent $836

Max offer price $110,000

Occupancy floor 90%

Sensitivity live

Price	-10% $109	-5% $78	+0% $47	+5% $16	+10% $-15
Rent	-10% $-24	-5% $12	+0% $47	+5% $82	+10% $118
Rate	-1.0pp $102	-0.5pp $75	base $47	+0.5pp $18	+1.0pp $-11

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: $27,500
• Closing costs: $3,300
• 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	45d	1	0.16mi

Listing history 8 events

1. 2026-06-22
   status $110,000 Pending 3 DOM
2. 2026-06-19
   days on market $110,000 Active 3 DOM
3. 2026-06-18
   days on market $110,000 Active 2 DOM
4. 2026-06-16
   statusdays on market $110,000 Active 1 DOM
5. 2026-06-15
   days on market $110,000 Coming Soon 4 DOM
6. 2026-06-14
   days on market $110,000 Coming Soon 2 DOM
7. 2026-06-13
   remarks 260-char remark
8. 2026-06-13
   listed $110,000 Coming Soon 1 DOM

ⓘ 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: $449 · $37/mo
• Projected year-2 tax: $1,071 · $89/mo
• Expected delta: +$623/yr (+$52/mo · 138.7%)

ⓘ 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 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 · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,740
• − Mortgage interest: −$6,162
• − Property taxes: −$449
• − Insurance: −$550
• − Repairs & maintenance: −$859
• − Management: −$859
• − Depreciation: −$3,200
• Taxable loss: −$1,339
• Est. tax savings @ 24.0%: +$321
• After-tax cash flow: $885/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

• 2026-06-11 Coming Soon $110,000 MiRealSource-MiMLS
• 2026-06-11 Coming Soon $110,000 SW Michigan MLS

Property tax history

-3.8%/yr

Latest (2025): $449 · -32.6% YoY. Source: county tax records.