1933 S Lafeyette Blvd · South Bend, IN 46613

$99,000

4 bd · 1.5 ba · 1,632 sqft · SingleFamily public records · 42 Days on market

Built 1900 4,792 sqft lot $61/sqft · 29% below area Est $139k · 29% under ↓ 18% since listing

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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
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

* New Improved Price" Welcome to this charming opportunity in the heart of South Bend! This inviting home offers a perfect blend of character, space, and potential—ideal for homeowners and investors alike. Step inside to find a spacious layout filled with natural light, featuring comfortable living areas that create a warm and welcoming atmosphere. The home offers 4 bedrooms, 2 full baths and functional living spaces, providing plenty of room to make it your own. Whether you're looking to personalize your dream home or expand your investment portfolio, this property delivers versatility and value. You'll take advantage of convenient access to local amenities, shopping, dining, and major roadways. The property also offers ample outdoor space sitting on 3 nice sized lots—perfect for spreading out, relaxing, entertaining, or future enhancements. Recent updates in the last couple years are a new roof, HVAC, water heater and siding! Home is being sold as-is and seller will make no repairs. Don’t miss your chance to own a property with great potential in a growing South Bend location. Schedule your showing today and envision the possibilities!

Key facts

• Ample outdoor space
• Growing location
• Recent updates

Tags

• AMPLE OUTDOOR SPACE
• CONVENIENT ACCESS
• RECENT UPDATES
• GROWING LOCATION

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $540 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $96k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.8% vs local median 4.4% in South Bend — 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 64/100 on livability (#365 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities D, employment D, schools F.
• South Bend Community School Corporation (urban): math 12% / reading 21% proficiency, ranked #284 of 301 in IN (top 94%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 66% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+4.1%/yr); 77 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 53% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 754 units permitted in St. Joseph County in 2024 (460 in 5+ unit buildings).
• This rent runs 42% of the median local income ($43k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $28k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($96k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $96,030 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.51% ✓
• Cap rate: 12.84%
• Cash-on-cash: 23.37%
• DSCR: 2.04
• GRM: 5.5

CMA / ARV

• ARV (median comp): $139,401
• List price: $99,000
• Delta: -28.98%
• 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
1813 Kendall St	0.36mi	4/1.5	1,584 (-3%)	1mo	$70,000	$44	77
320 E Fox St	0.44mi	4/1.0	1,584 (-3%)	1mo	$72,500	$46	72
1819 S Scott St	0.30mi	5/1.0 (+1)	1,536 (-6%)	3mo	$131,000	$85	66
120 E Fox St	0.29mi	4/2.0	1,788 (+10%)	9mo	$172,500	$96	61
313 E Irvington Ave	0.58mi	3/2.0 (-1)	1,608 (-2%)	3mo	$200,000	$124	61
201 E Bowman St	0.31mi	3/2.0 (-1)	1,456 (-11%)	0mo	$51,000	$35	60
626 E Dubail Ave	0.67mi	3/1.0 (-1)	1,638 (+0%)	2mo	$150,500	$92	60
234 E Victoria St	0.48mi	5/1.0 (+1)	1,776 (+9%)	6mo	$72,000	$41	51
213 E Victoria St	0.43mi	3/1.0 (-1)	1,440 (-12%)	5mo	$135,000	$94	49
127 E Oakside St	0.59mi	4/2.0	1,836 (+12%)	2mo	$168,000	$92	48
1805 S Douglas St	0.62mi	4/2.0	1,427 (-13%)	1mo	$175,000	$123	47
420 Haney Ave	0.61mi	5/2.0 (+1)	1,756 (+8%)	6mo	$73,000	$42	47

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 · 4.08% rent growth · sell at horizon

5-year hold

• IRR: 17.6%
• Equity multiple: 1.72×
• Total profit: $19,973
• Equity at exit: $14,761

10-year hold

• IRR: 26.8%
• Equity multiple: 3.47×
• Total profit: $68,519
• Equity at exit: $8,560

Cash invested: $27,720 (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 46613

• Home prices YoY: -7.2%
• Rents YoY: 4.1%
• Active inventory: 77
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,493 high
• Mortgage (P&I): −$519
• Tax from tax record: −$79 /mo · $946/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $540

Break-even live

Break-even rent $809

Max offer price $99,000

Occupancy floor 59%

Sensitivity live

Price	-10% $596	-5% $568	+0% $540	+5% $512	+10% $484
Rent	-10% $422	-5% $481	+0% $540	+5% $599	+10% $658
Rate	-1.0pp $590	-0.5pp $565	base $540	+0.5pp $514	+1.0pp $488

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
114 Altgeld St South Bend, IN	3.0	2.0	1680	$1,399	$0.83	44d	1	0.35mi
2002 Catalpa Ave South Bend, IN	3.0	1.0	1424	$1,250	$0.88	21d	1	0.42mi
317 E Indiana Ave South Bend, IN	3.0	1.0	1344	$1,200	$0.89	21d	1	0.57mi
525 E Eckman St South Bend, IN	3.0	1.0	1400	$1,500	$1.07	44d	1	0.71mi
405 E Woodside St South Bend, IN	3.0	1.0	1440	$1,425	$0.99	21d	1	0.74mi
821 E Fairview Ave South Bend, IN	3.0	1.0	1248	$1,399	$1.12	44d	1	0.87mi
909 E Fairview Ave South Bend, IN	3.0	1.0	1128	$1,450	$1.29	44d	1	0.91mi
3406 Whitcomb Ave South Bend, IN	4.0	3.0	1665	$7,887	$4.74	44d	1	0.99mi
1912 Miami St Unit 1912 South Bend, IN	3.0	1.5	1300	$1,400	$1.08	44d	1	1.01mi
1126 E Broadway St South Bend, IN	4.0	2.0	1492	$1,365	$0.91	21d	1	1.15mi
1149 E Indiana Ave South Bend, IN	4.0	2.0	1344	$1,200	$0.89	14d	1	1.16mi
1317 Poland St South Bend, IN	3.0	1.0	1100	$1,300	$1.18	21d	1	1.29mi
416 E Chippewa Ave South Bend, IN	4.0	2.0	1440	$1,900	$1.32	44d	1	1.34mi
1007 E Chippewa Ave South Bend, IN	3.0	1.0	1344	$1,399	$1.04	44d	1	1.38mi
221 S Taylor St South Bend, IN	3.0	2.0	1178	$2,599	$2.21	14d	1	1.47mi

Listing history 2 events

1. 2026-04-29
   price $99,000 1178-char remark

   Show marketing remark (1178 chars)

   * New Improved Price" Welcome to this charming opportunity in the heart of South Bend! This inviting home offers a perfect blend of character, space, and potential—ideal for homeowners and investors alike. Step inside to find a spacious layout filled with natural light, featuring comfortable living areas that create a warm and welcoming atmosphere. The home offers 4 bedrooms, 2 full baths and functional living spaces, providing plenty of room to make it your own. Whether you're looking to personalize your dream home or expand your investment portfolio, this property delivers versatility and value. You'll take advantage of convenient access to local amenities, shopping, dining, and major roadways. The property also offers ample outdoor space sitting on 3 nice sized lots—perfect for spreading out, relaxing, entertaining, or future enhancements. Recent updates in the last couple years are a new roof, HVAC, water heater and siding! Home is being sold as-is and seller will make no repairs. Don’t miss your chance to own a property with great potential in a growing South Bend location. Schedule your showing today and envision the possibilities!

2. 2026-04-14
   listed $120,000 Active 1178-char remark

   Show marketing remark (1178 chars)

   * New Improved Price" Welcome to this charming opportunity in the heart of South Bend! This inviting home offers a perfect blend of character, space, and potential—ideal for homeowners and investors alike. Step inside to find a spacious layout filled with natural light, featuring comfortable living areas that create a warm and welcoming atmosphere. The home offers 4 bedrooms, 2 full baths and functional living spaces, providing plenty of room to make it your own. Whether you're looking to personalize your dream home or expand your investment portfolio, this property delivers versatility and value. You'll take advantage of convenient access to local amenities, shopping, dining, and major roadways. The property also offers ample outdoor space sitting on 3 nice sized lots—perfect for spreading out, relaxing, entertaining, or future enhancements. Recent updates in the last couple years are a new roof, HVAC, water heater and siding! Home is being sold as-is and seller will make no repairs. Don’t miss your chance to own a property with great potential in a growing South Bend location. Schedule your showing today and envision the possibilities!

ⓘ 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: $946 · $79/mo
• Projected year-2 tax: $946 · $79/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 2/10 Low 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,910
• − Mortgage interest: −$5,546
• − Property taxes: −$946
• − Insurance: −$495
• − Repairs & maintenance: −$1,433
• − Management: −$1,433
• − Depreciation: −$2,880
• Taxable income: $5,178
• Est. tax owed @ 24.0%: −$1,243
• After-tax cash flow: $5,235/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: South Bend Community School Corporation
• NCES district ID: 1810290
• Math proficiency: 12% ▼ -10.00%
• Reading proficiency: 21% ▼ -6.00%
• Median HH income: $41,935
• Composite: 14.21/100
• National rank: #9452
• State rank: #284 of 301 in IN

Livability — South Bend

• Score: 64/100
• State rank: #365
• US rank: #13730

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: South Bend, IN
• County: Saint Joseph County · 189,048 people
• City population: 99,767
• Metro: South Bend-Mishawaka, IN-MI
• Population (ZIP): 12,279
• Household income: $42,537
• Rent vs Own: 46.6% rent · 53.4% own
• Severe rent burden: 545.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 41% Hispanic / Latino 24% Black 23% Two or more races 22% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Romanian 4% Italian 1% Slovak 1%
• Foreign-born: 9% · Canada, Philippines
• Languages at home: 81% English-only · Spanish 17% Other Asian/Pacific 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: ▼ -20.88%
• Current HPI: 270.0303
• Rent YoY: ▲ 4.08%
• 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

-17.5% since first listed

2 events — show timeline

• 2026-04-29 Price Changed $99,000 IRMLS
• 2026-04-14 Listed $120,000 IRMLS

Property tax history

+3.3%/yr

Latest (2023): $946 · +21.8% YoY. Source: county tax records.