1104 W 8th St · Mishawaka, IN 46544

$179,900

2 bd · 1.0 ba · 1,176 sqft · SingleFamily public records · 2 Days on market

Built 1923 4,680 sqft lot Est $160k · 12% over

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Why this score? — see what drove the F 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 +10.1/30.0
• Rent growth +4.8/5.0
• Livability +3.8/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• ARV discount +1.9/15.0
• 1% rule +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks

* * Multiple Offers received. Highest and best due noon Sunday May 10th. Welcome home to this inviting 3 bedroom, 1 full bathroom home featuring 1,176 square feet above grade plus a partially finished basement for extra living space, a rec room, home office, or storage. Outside, you’ll find a detached 1-car garage and a fenced backyard perfect for relaxing, entertaining, or enjoying time outdoors. A comfortable layout with space both inside and out!

Key facts

• 4,680 sq ft lot
• Garage
• Built 1923

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); One story
• Construction: Brick and vinyl siding construction; Above-grade finished living area; Below-grade finished living area
• Exterior features: Chain link fencing; Level lot; Lot dimensions approximately 40 x 117

Interior

• Kitchen: Dishwasher; Refrigerator; Gas range
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Dishwasher; Refrigerator; Gas range; Partially finished basement; 11 total rooms
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $-106 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $161k (10.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $123k (31.8% below list).
• Recommended offer: $123k (31.8% below list) — sets the bar for 1% rule.

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: Beiger Elementary School (math 30% / reading 28%, grade F, #725 of 994 statewide, top 73%, 546 students, 67% 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).
• Market conditions: Rents rising fast (+9.1%/yr); 140 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $122,739 (31.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1923 — 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. 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?
5. 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.
6. 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.
7. 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: 0.68% ✗
• Cap rate: 5.59%
• Cash-on-cash: -2.52%
• DSCR: 0.89
• GRM: 12.2

CMA / ARV

• ARV (on-the-fly): $159,936
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1004 W 6th St	0.14mi	3/1.5 (+1)	1,266 (+8%)	1mo	$106,000	$84	73
912 Reddick St	0.44mi	2/1.0	1,168 (-1%)	7mo	$151,500	$130	72
1002 Alabama St	0.50mi	2/1.0	1,186 (+1%)	4mo	$144,500	$122	72
314 Harrison St	0.17mi	3/1.0 (+1)	1,064 (-10%)	6mo	$164,525	$155	66
215 Smith St	0.30mi	3/1.0 (+1)	1,292 (+10%)	1mo	$199,500	$154	64
427 W 14th St	0.59mi	2/1.0	1,144 (-3%)	7mo	$167,500	$146	62
918 W 4th St	0.26mi	3/1.0 (+1)	1,332 (+13%)	3mo	$152,000	$114	58
1226 S 30th St	0.70mi	2/1.0	1,214 (+3%)	5mo	$120,000	$99	58
2023 Delaware St	0.61mi	3/1.0 (+1)	1,264 (+8%)	2mo	$191,000	$151	53
3506 Pleasant St	0.52mi	2/1.0	1,008 (-14%)	1mo	$149,000	$148	51
523 W 6th St	0.38mi	3/1.5 (+1)	1,344 (+14%)	2mo	$163,000	$121	50
915 S Dale Ave	0.65mi	3/1.0 (+1)	1,350 (+15%)	1mo	$183,000	$136	39

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -15.9%
• Equity multiple: 0.41×
• Total profit: $-29,494
• Equity at exit: $26,824

10-year hold

• IRR: -1.3%
• Equity multiple: 0.90×
• Total profit: $-5,189
• Equity at exit: $15,554

Cash invested: $50,372 (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 46544

• Rents YoY: 9.1%
• Active inventory: 140
• Price-to-rent: 12.2×

Monthly cashflow live

• Estimated rent: $1,227 high
• Mortgage (P&I): −$943
• Tax from tax record: −$57 /mo · $686/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $-106

Break-even live

Break-even rent $1,361

Max offer price $161,193

Occupancy floor —

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: $44,975
• Closing costs: $5,397
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3530 Northside Blvd South Bend, IN	1.0–2.0	1.0	850	$1,200	$1.41	13d	1	0.38mi
516 W 3rd St Apt 1 Mishawaka, IN	1.0	1.0	750	$800	$1.07	21d	1	0.48mi
516 W 3rd St #6 Mishawaka, IN	2.0	1.0	700	$800	$1.14	13d	1	0.48mi
722 S Spring St Apt 3 Mishawaka, IN	2.0	1.0	800	$1,200	$1.50	13d	1	0.57mi
1006 S 35th St South Bend, IN	3.0	2.0	816	$1,000	$1.23	13d	1	0.60mi
365 W Front St Mishawaka, IN	2.0	1.0–2.0	825	$3,050	$3.70	13d	1	0.70mi
1218 S 26th St South Bend, IN	3.0	1.0	856	$1,400	$1.64	13d	1	0.93mi
116 W Mishawaka Ave Mishawaka, IN	3.0	1.0–2.0	948	$1,914	$2.02	13d	31	0.95mi
724 Elizabeth St Mishawaka, IN	1.0	1.0	850	$875	$1.03	13d	1	1.00mi
737 S 30th St South Bend, IN	3.0	2.0	1000	$1,600	$1.60	43d	1	1.03mi
2804 Delaware St Mishawaka, IN	2.0	1.0	720	$1,200	$1.67	13d	1	1.10mi
804 S 27th St South Bend, IN	1.0	1.0	700	$850	$1.21	21d	1	1.11mi
232 E Grove St Mishawaka, IN	3.0	1.0	1188	$1,500	$1.26	13d	1	1.13mi
642 E 11th St Mishawaka, IN	3.0	1.0	1248	$1,295	$1.04	21d	1	1.18mi
2500 Topsfield Rd #907 South Bend, IN	1.0	1.0	700	$1,100	$1.57	43d	1	1.21mi
703 E 12th St Unit D Mishawaka, IN	2.0	1.0	850	$1,395	$1.64	13d	1	1.23mi
703 E 12th St Unit A Mishawaka, IN	2.0	1.0	900	$1,295	$1.44	43d	1	1.23mi
526 S 28th St South Bend, IN	2.0	1.0	1000	$1,350	$1.35	13d	1	1.24mi
819 S 24th St South Bend, IN	3.0	2.0	1480	$1,795	$1.21	43d	1	1.25mi
1106 S 20th St South Bend, IN	1.0–3.0	1.0–2.0	885	$924	$1.04	13d	1	1.31mi
754 S 23rd St South Bend, IN	3.0	1.0	884	$1,300	$1.47	43d	1	1.31mi
427 S 27th St South Bend, IN	2.0	1.0	840	$950	$1.13	43d	1	1.35mi
3001 E Jefferson Blvd South Bend, IN	1.0–2.0	1.0–2.0	848	$1,329	$1.57	13d	21	1.37mi
602 E Battell St Mishawaka, IN	1.0	1.0	980	$1,400	$1.43	21d	1	1.37mi
1729 E Calvert St South Bend, IN	3.0	1.0	900	$1,300	$1.44	43d	1	1.40mi
1701 E Donald St South Bend, IN	2.0	1.0	720	$1,075	$1.49	43d	1	1.46mi

Listing history 3 events

1. 2026-05-10
   status Pending
2. 2026-05-10
   price $179,900
3. 2026-05-08
   listed $149,900 Active

ⓘ 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: $686 · $57/mo
• Projected year-2 tax: $1,108 · $92/mo
• Expected delta: +$422/yr (+$35/mo · 61.5%)

ⓘ 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 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: $14,729
• − Mortgage interest: −$10,077
• − Property taxes: −$686
• − Insurance: −$900
• − Repairs & maintenance: −$1,178
• − Management: −$1,178
• − Depreciation: −$5,233
• Taxable loss: −$4,524
• Est. tax savings @ 24.0%: +$1,086
• After-tax cash flow: $-185/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): 31,077
• Household income: $58,829
• Rent vs Own: 36.3% rent · 63.7% own
• Severe rent burden: 685.0

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 (79%)
• Race & ethnicity: White 79% Black 9% Two or more races 7% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 7% English 3% Lithuanian 2%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 94% English-only · Spanish 3%

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: ▼ -116.74%
• Current HPI: 188.9996
• Rent YoY: ▲ 9.10%
• 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

+20.0% since first listed

3 events — show timeline

• 2026-05-10 Pending — IRMLS
• 2026-05-10 Price Changed $179,900 IRMLS
• 2026-05-08 Listed $149,900 IRMLS

Property tax history

+1.5%/yr

Latest (2023): $686 · -19.4% YoY. Source: county tax records.