213 E Lawrence St · Mishawaka, IN 46545

$165,000

2 bd · 1.0 ba · 1,132 sqft · SingleFamily public records · 21 Days on market

Built 1890 5,663 sqft lot Est $181k · 9% 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 +15.8/30.0
• ARV discount +11.5/15.0
• DSCR +4.9/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• 1% rule +3.6/10.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Beautifully decorated ready to move in home in a great location. Within walking distance to downtown, river walk, parks and schools. Newer kitchen, bath, paint, and more. The home includes all appliances plus a washer and dryer. WILL CONSIDER VA & FHA

Key facts

• Covered front porch
• Freshened kitchen
• Hardwood floors

Tags

• COVERED FRONT PORCH
• HARDWOOD FLOORS
• FRESHENED KITCHEN

Property features AI

Finance

• Other: Subdivision: Lawrence & Battells; Directions available: Main Street east on Lawrence, past Sarah; home is on the south side of the street
• Financial info: Tax information not included
• HOA & community: No HOA information provided

Exterior

• Parking: Parking details not provided
• Security: No security features listed
• Utilities: Public water; Public sewer
• Home design: Single-family, site-built home; One story
• Construction: Vinyl siding; Block foundation; Shingle roof; Built area above grade: 1,109 (value provided)
• Exterior features: Privacy wood fencing; Level lot; Lot approximately 51' x 114'

Interior

• Kitchen: Microwave; Refrigerator; Electric range
• Bedrooms: Bedrooms not specified
• Flooring: Hardwood; Carpet
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Natural gas forced air heating; Window cooling units
• Interior features: Microwave; Refrigerator; Electric range; Gas water heater; Water heater; One fireplace; Partial unfinished basement; Seven total rooms
• Laundry & utility: Washer; Dryer; Laundry on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $75 ($901/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 $142k (13.9% below list).
• Recommended offer: $142k (13.9% below list) — sets the bar for 1% rule.
• Cap rate 6.8% vs local median 5.3% in Mishawaka — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 76/100 on livability (#53 in IN, #3,586 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: amenities F, employment F.
• School City Of Mishawaka (urban): math 23% / reading 30% proficiency, ranked #260 of 301 in IN (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Battell Elementary School (math 27% / reading 22%, grade F, #762 of 994 statewide, top 78%, 290 students, 78% FRL); John J Young Middle School (math 17% / reading 30%, grade F, #257 of 330 statewide, top 79%, 735 students, 74% FRL); Mishawaka High School (math 24% / reading 60%, grade F, #197 of 369 statewide, top 57%, 1,488 students, 65% FRL) — zoned schools average 72% FRL vs 54% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.2%/yr); 78 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 754 units permitted in St. Joseph County in 2024 (460 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($163k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 13y 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 $125k; 32% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $142,133 (13.9% below list)

Questions for the listing agent

1. Built in 1890 — 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. 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?
4. 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.
5. 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.
6. 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: 0.86% ✗
• Cap rate: 6.84%
• Cash-on-cash: 1.95%
• DSCR: 1.09
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $181,120
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
131 E Marion St	0.20mi	2/1.5	1,232 (+9%)	1mo	$172,000	$140	73
522 E Battell St	0.24mi	3/1.0 (+1)	1,099 (-3%)	8mo	$111,250	$101	72
209 E Borley Ave	0.41mi	3/2.0 (+1)	1,128 (-0%)	2mo	$215,000	$191	70
210 E Marion St	0.21mi	3/1.0 (+1)	1,200 (+6%)	7mo	$170,000	$142	69
125 E Omer Ave	0.64mi	2/1.0	1,131 (-0%)	4mo	$170,600	$151	66
428 W Jefferson Blvd	0.61mi	3/1.0 (+1)	1,113 (-2%)	2mo	$232,000	$208	63
239 E Jefferson Blvd	0.36mi	2/1.0	1,020 (-10%)	6mo	$84,000	$82	61
239 E Edgar Ave	0.52mi	2/2.0	1,066 (-6%)	2mo	$185,000	$174	60
703 Maple St	0.52mi	2/1.0	1,047 (-8%)	3mo	$95,000	$91	60
523 Alice St	0.32mi	3/1.5 (+1)	1,216 (+7%)	8mo	$195,000	$160	60
1002 E Broadway St	0.54mi	3/2.0 (+1)	1,172 (+4%)	2mo	$205,000	$175	58
717 E Grove St	0.35mi	3/2.0 (+1)	1,204 (+6%)	8mo	$195,000	$162	58

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 · 5.2% rent growth · sell at horizon

5-year hold

• IRR: -11.0%
• Equity multiple: 0.59×
• Total profit: $-18,777
• Equity at exit: $24,602

10-year hold

• IRR: 1.0%
• Equity multiple: 1.07×
• Total profit: $3,461
• Equity at exit: $14,266

Cash invested: $46,200 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Indiana: 90 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

10-day pay-or-quit; landlord-favorable; preempted.

Methodology + full state rankings →

ZIP-level market 46545

• Rents YoY: 5.2%
• Active inventory: 78
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,421 high
• Mortgage (P&I): −$865
• Tax from tax record: −$114 /mo · $1,365/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $75

Break-even live

Break-even rent $1,326

Max offer price $165,000

Occupancy floor 90%

Sensitivity live

Price	-10% $168	-5% $122	+0% $75	+5% $28	+10% $-18
Rent	-10% $-37	-5% $19	+0% $75	+5% $131	+10% $187
Rate	-1.0pp $158	-0.5pp $117	base $75	+0.5pp $32	+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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
232 E Grove St Mishawaka, IN	3.0	1.0	1188	$1,500	$1.26	15d	1	0.06mi
116 W Mishawaka Ave Mishawaka, IN	3.0	1.0–2.0	948	$1,914	$2.02	15d	31	0.20mi
724 Elizabeth St Mishawaka, IN	1.0	1.0	850	$875	$1.03	15d	1	0.20mi
602 E Battell St Mishawaka, IN	1.0	1.0	980	$1,400	$1.43	22d	1	0.26mi
365 W Front St Mishawaka, IN	2.0	1.0–2.0	825	$3,050	$3.70	15d	1	0.44mi
209 E Edgar Ave Mishawaka, IN	3.0	1.0	1400	$1,400	$1.00	15d	1	0.51mi
516 W 3rd St Apt 1 Mishawaka, IN	1.0	1.0	750	$800	$1.07	22d	1	0.66mi
516 W 3rd St #6 Mishawaka, IN	2.0	1.0	700	$800	$1.14	15d	1	0.66mi
722 S Spring St Apt 3 Mishawaka, IN	2.0	1.0	800	$1,200	$1.50	15d	1	0.96mi
1006 S 35th St South Bend, IN	3.0	2.0	816	$1,000	$1.23	15d	1	1.07mi
3530 Northside Blvd South Bend, IN	1.0–2.0	1.0	850	$1,200	$1.41	15d	1	1.09mi
642 E 11th St Mishawaka, IN	3.0	1.0	1248	$1,295	$1.04	22d	1	1.13mi
703 E 12th St Unit A Mishawaka, IN	2.0	1.0	900	$1,295	$1.44	45d	1	1.24mi
703 E 12th St Unit D Mishawaka, IN	2.0	1.0	850	$1,395	$1.64	15d	1	1.24mi
117 Palau Ave Mishawaka, IN	3.0	1.0	1100	$1,650	$1.50	15d	1	1.25mi
1918 N Byrkit St Mishawaka, IN	2.0	1.0	770	$1,250	$1.62	15d	1	1.30mi
300 Pin Oak Cir Mishawaka, IN	1.0–3.0	1.0–1.5	835	$1,052	$1.26	15d	1	1.30mi
3001 E Jefferson Blvd South Bend, IN	1.0–2.0	1.0–2.0	848	$1,329	$1.57	15d	21	1.30mi
737 S 30th St South Bend, IN	3.0	2.0	1000	$1,600	$1.60	45d	1	1.38mi
303 Village Dr Mishawaka, IN	1.0–3.0	1.0–1.5	918	$1,619	$1.76	15d	25	1.48mi

Listing history 14 events

1. 2026-06-22
   days on market $165,000 Active 21 DOM
2. 2026-06-18
   days on market $165,000 Active 18 DOM
3. 2026-06-17
   days on market $165,000 Active 17 DOM
4. 2026-06-16
   days on market $165,000 Active 16 DOM
5. 2026-06-15
   days on market $165,000 Active 15 DOM
6. 2026-06-14
   pricedays on market $165,000 Active 13 DOM
7. 2026-06-13
   days on market $170,000 Active 12 DOM
8. 2026-06-10
   days on market $170,000 Active 10 DOM
9. 2026-06-09
   days on market $170,000 Active 9 DOM
10. 2026-06-08
    days on market $170,000 Active 8 DOM
11. 2026-06-07
    days on market $170,000 Active 7 DOM
12. 2026-06-02
    days on market $170,000 Active 2 DOM
13. 2026-06-01
    remarks 277-char remark
14. 2026-06-01
    listed $170,000 Active 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 IN · Partial reset (capped growth)

• Current annual tax: $1,365 · $114/mo
• Projected year-2 tax: $1,384 · $115/mo
• Expected delta: +$19/yr (+$2/mo · 1.4%)

ⓘ 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 ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,056
• − Mortgage interest: −$9,243
• − Property taxes: −$1,365
• − Insurance: −$825
• − Repairs & maintenance: −$1,364
• − Management: −$1,364
• − Depreciation: −$4,800
• Taxable loss: −$1,906
• Est. tax savings @ 24.0%: +$457
• After-tax cash flow: $1,358/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: School City Of Mishawaka
• NCES district ID: 1806840
• Math proficiency: 23% ▼ -9.00%
• Reading proficiency: 30% ▼ -7.00%
• Median HH income: $39,290
• Composite: 22.26/100
• National rank: #8143
• State rank: #260 of 301 in IN

Livability — Mishawaka

• Score: 76/100
• State rank: #53
• US rank: #3586

Category grades

Amenities F Commute C Cost of living A+ Crime C Employment F Housing A+ Health & safety B User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mishawaka, IN
• County: Saint Joseph County · 189,048 people
• City population: 57,683
• Metro: South Bend-Mishawaka, IN-MI
• Population (ZIP): 26,606
• Household income: $56,865
• Rent vs Own: 47.3% rent · 52.7% own
• Severe rent burden: 1243.0

Population outlook (St. Joseph County) Hauer SSP2

• Today (2025): 273,186 people
• By 2030: 273,594 · +0.1%
• By 2040: 271,641 · -0.6%
• By 2050: 269,187 · -1.5%
• By 2075: 263,136 · -3.7%
• By 2100: 245,659 · -10.1%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (78%)
• Race & ethnicity: White 78% Two or more races 8% Black 7% Hispanic / Latino 6% Asian 3%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Romanian 6% Lithuanian 2% English 2%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 90% English-only · Spanish 4% Chinese 1% Other Indo-European 1%

Political lean MEDSL · St. Joseph

• 2024 margin: Toss-up / Even · D 50.0% · R 48.5% · Other 1.5%
• 2008→2024 swing: -15.6pp toward R · 2008: 17.1pp · 2024: 1.5pp
• All cycles: 2024: D+1.5 2020: D+5.8 2016: D+0.2 2012: D+3.5 2008: D+17.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -114.83%
• Current HPI: 188.2811
• Rent YoY: ▲ 5.20%
• Metro: South Bend-Mishawaka, IN-MI
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

Industry mix (Fortune 500 HQ in IN)

Industry	F500 HQs	Revenue
▸Industrial Machinery	2	$37B
▸Healthcare	1	$177B
▸Pharmaceuticals	1	$45B
▸Metals / Steel	1	$18B
▸Agriculture	1	$17B
▸Packaging	1	$12B

Price history

+146.4% since first listed

9 events — show timeline

• 2026-06-01 Listed $170,000 IRMLS
• 2022-09-30 Sold (MLS) $125,000 IRMLS
• 2022-09-07 Pending — IRMLS
• 2022-07-28 Listed $129,900 IRMLS
• 2017-01-19 Sold (MLS) $63,000 IRMLS
• 2016-09-23 Listed $69,900 IRMLS
• 2015-05-02 Listed $71,000 IRMLS
• 2014-09-08 Sold (MLS) $62,000 IRMLS
• 2013-09-16 Listed $69,000 IRMLS

Property tax history

+1.9%/yr

Latest (2024): $1,365 · -3.1% YoY. Source: county tax records.