26619 W Edison Rd · South Bend, IN 46628

$100,000

5 bd · 1.0 ba · 1,372 sqft · SingleFamily public records · 74 Days on market

Built 1932 0.44 ac lot $73/sqft · 49% below area Est $134k · 25% under

---

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 +4.2/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity to make this home your own on nearly half an acre! This 2-bedroom, 1-bath home sits on a spacious 0.44-acre lot with plenty of potential. The home features a 1-car detached garage, a back deck, and an enclosed front porch that provides a welcoming entry. Major mechanical updates include a newer roof (3 years) along with a water heater, gas furnace and windows within the last 5 years. With some TLC, there is an option for an additional finished living space in the attic- giving buyers the opportunity to expand the home’s footprint Agents please read remarks! Property is being sold as-is. Schedule your showing today to see the potential this property has to offer!

Key facts

• Newer roof
• Water heater
• Back deck

Tags

• HALF AN ACRE
• DETACHED GARAGE
• BACK DECK
• ENCLOSED FRONT PORCH
• NEWER ROOF
• WATER HEATER

What this means for you Summary

Snapshot

• This is a 5-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $801 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 15.9% 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 (+6.8%/yr); 424 active listings in the ZIP; 754 units permitted in St. Joseph County in 2024 (460 in 5+ unit buildings).
• This rent runs 35% of the median local income ($62k/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 $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.8% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 6y ago; this cycle's ask has dropped $20k (17%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1932 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $94,000 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1932 — 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. 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.
8. 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.
9. 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: 1.78% ✓
• Cap rate: 15.91%
• Cash-on-cash: 34.33%
• DSCR: 2.53
• GRM: 4.7

CMA / ARV

• ARV (median comp): $133,946
• List price: $100,000
• Delta: -25.34%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 6.78% rent growth · sell at horizon

5-year hold

• IRR: 33.7%
• Equity multiple: 2.49×
• Total profit: $41,835
• Equity at exit: $14,910

10-year hold

• IRR: 42.5%
• Equity multiple: 5.76×
• Total profit: $133,277
• Equity at exit: $8,646

Cash invested: $28,000 (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 46628

• Rents YoY: 6.8%
• Active inventory: 424
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,784 medium
• Mortgage (P&I): −$524
• Tax from tax record: −$43 /mo · $512/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $801

Break-even live

Break-even rent $771

Max offer price $100,000

Occupancy floor 50%

Sensitivity live

Price	-10% $858	-5% $829	+0% $801	+5% $773	+10% $744
Rent	-10% $660	-5% $731	+0% $801	+5% $872	+10% $942
Rate	-1.0pp $851	-0.5pp $826	base $801	+0.5pp $775	+1.0pp $749

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-08
   days on market $100,000 Active 74 DOM
2. 2026-06-07
   days on market $100,000 Active 73 DOM
3. 2026-06-03
   days on market $100,000 Active 69 DOM
4. 2026-06-02
   days on market $100,000 Active 68 DOM
5. 2026-06-01
   days on market $100,000 Active 67 DOM
6. 2026-05-31
   days on market $100,000 Active 66 DOM
7. 2026-05-30
   days on market $100,000 Active 65 DOM
8. 2026-05-07
   price $100,000 694-char remark

   Show marketing remark (694 chars)

   Great opportunity to make this home your own on nearly half an acre! This 2-bedroom, 1-bath home sits on a spacious 0.44-acre lot with plenty of potential. The home features a 1-car detached garage, a back deck, and an enclosed front porch that provides a welcoming entry. Major mechanical updates include a newer roof (3 years) along with a water heater, gas furnace and windows within the last 5 years. With some TLC, there is an option for an additional finished living space in the attic- giving buyers the opportunity to expand the home’s footprint Agents please read remarks! Property is being sold as-is. Schedule your showing today to see the potential this property has to offer!

9. 2026-04-25
   price $115,000 694-char remark

   Show marketing remark (694 chars)

   Great opportunity to make this home your own on nearly half an acre! This 2-bedroom, 1-bath home sits on a spacious 0.44-acre lot with plenty of potential. The home features a 1-car detached garage, a back deck, and an enclosed front porch that provides a welcoming entry. Major mechanical updates include a newer roof (3 years) along with a water heater, gas furnace and windows within the last 5 years. With some TLC, there is an option for an additional finished living space in the attic- giving buyers the opportunity to expand the home’s footprint Agents please read remarks! Property is being sold as-is. Schedule your showing today to see the potential this property has to offer!

10. 2026-04-01
    status Active 694-char remark

    Show marketing remark (694 chars)

    Great opportunity to make this home your own on nearly half an acre! This 2-bedroom, 1-bath home sits on a spacious 0.44-acre lot with plenty of potential. The home features a 1-car detached garage, a back deck, and an enclosed front porch that provides a welcoming entry. Major mechanical updates include a newer roof (3 years) along with a water heater, gas furnace and windows within the last 5 years. With some TLC, there is an option for an additional finished living space in the attic- giving buyers the opportunity to expand the home’s footprint Agents please read remarks! Property is being sold as-is. Schedule your showing today to see the potential this property has to offer!

11. 2026-03-19
    status Pending 694-char remark

    Show marketing remark (694 chars)

    Great opportunity to make this home your own on nearly half an acre! This 2-bedroom, 1-bath home sits on a spacious 0.44-acre lot with plenty of potential. The home features a 1-car detached garage, a back deck, and an enclosed front porch that provides a welcoming entry. Major mechanical updates include a newer roof (3 years) along with a water heater, gas furnace and windows within the last 5 years. With some TLC, there is an option for an additional finished living space in the attic- giving buyers the opportunity to expand the home’s footprint Agents please read remarks! Property is being sold as-is. Schedule your showing today to see the potential this property has to offer!

12. 2026-03-13
    listed $120,000 Active 694-char remark

    Show marketing remark (694 chars)

    Great opportunity to make this home your own on nearly half an acre! This 2-bedroom, 1-bath home sits on a spacious 0.44-acre lot with plenty of potential. The home features a 1-car detached garage, a back deck, and an enclosed front porch that provides a welcoming entry. Major mechanical updates include a newer roof (3 years) along with a water heater, gas furnace and windows within the last 5 years. With some TLC, there is an option for an additional finished living space in the attic- giving buyers the opportunity to expand the home’s footprint Agents please read remarks! Property is being sold as-is. Schedule your showing today to see the potential this property has to offer!

13. 2020-05-06
    listed $50,000

ⓘ 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: $512 · $43/mo
• Projected year-2 tax: $681 · $57/mo
• Expected delta: +$169/yr (+$14/mo · 33.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,414
• − Mortgage interest: −$5,602
• − Property taxes: −$512
• − Insurance: −$500
• − Repairs & maintenance: −$1,713
• − Management: −$1,713
• − Depreciation: −$2,909
• Taxable income: $8,465
• Est. tax owed @ 24.0%: −$2,032
• After-tax cash flow: $7,581/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

• County: Saint Joseph County · 189,048 people
• City population: 99,767
• Metro: South Bend-Mishawaka, IN-MI
• Population (ZIP): 27,685
• Household income: $61,759
• Rent vs Own: 31.6% rent · 68.4% own
• Severe rent burden: 1024.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 55% Black 30% Hispanic / Latino 10% Two or more races 8%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 12% Lithuanian 1% Slovak 1%
• Foreign-born: 7% · Canada, China
• Languages at home: 89% English-only · Spanish 7% Russian/Polish/Slavic 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: ▼ -130.47%
• Current HPI: 202.112
• Rent YoY: ▲ 6.78%
• 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

+100.0% since first listed

6 events — show timeline

• 2026-05-07 Price Changed $100,000 IRMLS
• 2026-04-25 Price Changed $115,000 IRMLS
• 2026-04-01 Relisted — IRMLS
• 2026-03-19 Pending — IRMLS
• 2026-03-13 Listed $120,000 IRMLS
• 2020-05-06 Listed $50,000 IRMLS

Property tax history

-9.7%/yr

Latest (2023): $512 · +14.1% YoY. Source: county tax records.