1922 E Fox St · South Bend, IN 46613

$154,900

3 bd · 1.0 ba · 1,008 sqft · SingleFamily public records · 3 Days on market

Built 1949 5,227 sqft lot $154/sqft · 70% above area Est $182k · 15% 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 +14.8/30.0
• ARV discount +14.1/15.0
• DSCR +4.5/10.0
• 1% rule +3.8/10.0
• 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

Accepted offer at time of listing.

Key facts

• Main floor laundry
• Full basement
• Two car garage

Tags

• WOOD BURNING FIREPLACES
• MAIN FLOOR LAUNDRY
• FULL BASEMENT
• TWO CAR GARAGE

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence, site-built; One story; Above-grade finished living area and below-grade finished area present
• Construction: Vinyl siding; Asphalt roof
• Exterior features: Level lot

Interior

• Kitchen: Electric oven and electric range
• Bedrooms: Total of 6 rooms (bedroom count not specified)
• Flooring: Carpet and vinyl flooring
• Bathrooms: One full bathroom and one half bathroom; one main-level bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Wood-burning fireplace in family room and living room; one fireplace total; Full unfinished basement
• Laundry & utility: Washer and dryer (laundry on main level); Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $42 ($508/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 $136k (12.4% below list).
• Recommended offer: $136k (12.4% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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, crime 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.
• Zoned schools: Lincoln Elementary School (math 7% / reading 6%, grade F, #964 of 994 statewide, top 97%, 467 students, 86% FRL); Riley High School (math 19% / reading 46%, grade F, #293 of 369 statewide, top 80%, 992 students, 67% FRL).
• Market conditions: Rents rising fast (+4.1%/yr); 77 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 38% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,689 (12.4% below list)

Questions for the listing agent

1. Built in 1949 — 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: 0.88% ✗
• Cap rate: 6.62%
• Cash-on-cash: 1.17%
• DSCR: 1.05
• GRM: 9.5

CMA / ARV

• ARV (median comp): $181,735
• List price: $154,900
• Delta: -14.77%
• 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
2611 Delaware St	0.23mi	3/1.0	936 (-7%)	1mo	$164,000	$175	77
2405 Woodmont Dr	0.16mi	2/1.0 (-1)	1,056 (+5%)	5mo	$122,500	$116	75
1610 E Donald St	0.34mi	2/1.0 (-1)	1,028 (+2%)	3mo	$120,000	$117	73
1804 E Calvert St	0.24mi	3/1.0	1,104 (+10%)	2mo	$185,000	$168	72
2523 Milburn Blvd	0.35mi	3/1.0	925 (-8%)	4mo	$155,000	$168	67
2536 Milburn Blvd	0.35mi	2/1.0 (-1)	900 (-11%)	0mo	$130,000	$144	60
1917 Panama St	0.70mi	3/1.0	936 (-7%)	2mo	$175,000	$187	54
2909 Hilltop Dr	0.55mi	3/1.0	1,124 (+12%)	3mo	$189,900	$169	53
2828 Southridge Dr	0.53mi	3/1.0	1,140 (+13%)	2mo	$215,000	$189	52
1009 Somerset Ave	0.46mi	2/1.0 (-1)	1,146 (+14%)	0mo	$174,900	$153	51
1714 S Twyckenham Dr	0.54mi	2/1.0 (-1)	870 (-14%)	1mo	$91,000	$105	46
1340 E Calvert St	0.60mi	2/1.0 (-1)	888 (-12%)	3mo	$65,500	$74	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 · 4.08% rent growth · sell at horizon

5-year hold

• IRR: -13.3%
• Equity multiple: 0.52×
• Total profit: $-20,919
• Equity at exit: $23,096

10-year hold

• IRR: -2.8%
• Equity multiple: 0.80×
• Total profit: $-8,512
• Equity at exit: $13,393

Cash invested: $43,372 (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: 9.5×

Monthly cashflow live

• Estimated rent: $1,357 high
• Mortgage (P&I): −$812
• Tax from tax record: −$153 /mo · $1,833/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$285
• Net cashflow: $42

Break-even live

Break-even rent $1,303

Max offer price $154,900

Occupancy floor 92%

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: $38,725
• Closing costs: $4,647
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2804 Delaware St Mishawaka, IN	2.0	1.0	720	$1,200	$1.67	13d	1	0.14mi
1701 E Donald St South Bend, IN	2.0	1.0	720	$1,075	$1.49	43d	1	0.27mi
1729 E Calvert St South Bend, IN	3.0	1.0	900	$1,300	$1.44	43d	1	0.30mi
1218 S 26th St South Bend, IN	3.0	1.0	856	$1,400	$1.64	13d	1	0.77mi
1106 S 20th St South Bend, IN	1.0–3.0	1.0–2.0	885	$1,200	$1.36	13d	1	0.77mi
1912 Miami St Unit 1912 South Bend, IN	3.0	1.5	1300	$1,400	$1.08	43d	1	0.93mi
1149 E Indiana Ave South Bend, IN	4.0	2.0	1344	$1,200	$0.89	13d	1	0.95mi
1126 E Broadway St South Bend, IN	4.0	2.0	1492	$1,365	$0.91	21d	1	1.04mi
819 S 24th St South Bend, IN	3.0	2.0	1480	$1,795	$1.21	43d	1	1.05mi
909 E Fairview Ave South Bend, IN	3.0	1.0	1128	$1,450	$1.29	43d	1	1.09mi
754 S 23rd St South Bend, IN	3.0	1.0	884	$1,300	$1.47	43d	1	1.10mi
821 E Fairview Ave South Bend, IN	3.0	1.0	1248	$1,399	$1.12	43d	1	1.13mi
2114 High St South Bend, IN	3.0	1.0	949	$1,300	$1.37	43d	1	1.14mi
3530 Northside Blvd South Bend, IN	1.0–2.0	1.0	850	$1,200	$1.41	13d	1	1.17mi
2032 Southern Vw Unit 1a South Bend, IN	2.0	1.0	1000	$1,200	$1.20	13d	1	1.19mi
211 Columbia St Mishawaka, IN	4.0	2.5	1500	$1,795	$1.20	21d	1	1.20mi
1006 S 35th St South Bend, IN	3.0	2.0	816	$1,000	$1.23	13d	1	1.25mi
4245 Irish Hills Dr South Bend, IN	1.0–2.0	1.0–1.5	739	$1,436	$1.94	13d	77	1.25mi
737 S 30th St South Bend, IN	3.0	2.0	1000	$1,600	$1.60	43d	1	1.26mi
922 Ridgedale Rd South Bend, IN	2.0	1.0	864	$1,200	$1.39	13d	1	1.29mi
526 S 28th St South Bend, IN	2.0	1.0	1000	$1,350	$1.35	13d	1	1.37mi
1007 E Chippewa Ave South Bend, IN	3.0	1.0	1344	$1,399	$1.04	43d	1	1.39mi
525 E Eckman St South Bend, IN	3.0	1.0	1400	$1,500	$1.07	43d	1	1.41mi
427 S 27th St South Bend, IN	2.0	1.0	840	$950	$1.13	43d	1	1.43mi

Listing history 4 events

1. 2026-05-06
   status Pending 650-char remark
2. 2026-05-03
   listed $154,900 Active 650-char remark
3. 2021-08-20
   soldstatus $125,000 34-char remark

   Show marketing remark (34 chars)

   Accepted offer at time of listing.

4. 2021-07-20
   listed $125,000 34-char remark

   Show marketing remark (34 chars)

   Accepted offer at time of listing.

ⓘ 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: $1,833 · $153/mo
• Projected year-2 tax: $1,833 · $153/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 3/10 Moderate 7 d/yr ≥99°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: $16,283
• − Mortgage interest: −$8,677
• − Property taxes: −$1,833
• − Insurance: −$774
• − Repairs & maintenance: −$1,303
• − Management: −$1,303
• − Depreciation: −$4,506
• Taxable loss: −$2,113
• Est. tax savings @ 24.0%: +$507
• After-tax cash flow: $1,015/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

+28.4% since first listed

5 events — show timeline

• 2026-06-04 Sold (MLS) $160,500 IRMLS
• 2026-05-06 Pending — IRMLS
• 2026-05-03 Listed $154,900 IRMLS
• 2021-08-20 Sold (MLS) $125,000 IRMLS
• 2021-07-20 Listed $125,000 IRMLS

Property tax history

+10.1%/yr

Latest (2025): $1,833 · +17.8% YoY. Source: county tax records.