3314 S Main St · South Bend, IN 46614

$149,000

4 bd · 1.0 ba · 1,682 sqft · SingleFamily public records · 24 Days on market

Built 1944 6,600 sqft lot Est $180k · 17% under

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Why this score? — see what drove the C+ 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 +23.9/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +5.4/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

PRICE REDUCED !!! ADORABLE HOME IN MOVE IN CONDITION. LIGHT AND BRIGHT ALL FRESHLY PAINTED. NEW FLOORING IN MOST ROOMS. OPEN DINING/KITCHEN, ONE MAIN FLOOR BEDROOM AND TWO UPSTAIRS. BACK ENTRY PORCH, FULLY FENCED YARD, 1.5 CAR GARAGE AND FINISHED FAMILY ROOM IN LOWER LEVEL (11 X 22) ALSO EXTRA ROOM IN BASEMENT FOR WOOD WORKING OR CRAFTS. NEW GLASS BLOCK WINDOW IN BATHROOM, NEWER WINDOWS AND APPLIANCES ARE ALL STAYING. SELLER WILL INSTALL NEW CENTRAL AIR UNIT BEFORE CLOSING.

Key facts

• Bonus room
• Open kitchen dining
• Detached garage

Tags

• BONUS ROOM
• DETACHED GARAGE
• OPEN KITCHEN DINING

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; 2 stories
• Construction: Aluminum siding; Vinyl siding
• Exterior features: Irregular lot; Lot dimensions approximately 40 x 165

Interior

• Kitchen: Gas range
• Bedrooms: Total of 7 rooms (bedrooms included in room count)
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; Cooling system (other)
• Interior features: Laminate counters; Full basement
• Laundry & utility: Laundry located in basement; Gas water heater; Water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $288 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Recommended offer: $147k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.6% 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: Monroe Elementary School (math 8% / reading 2%, grade F, #970 of 994 statewide, top 99%, 418 students, 90% FRL); Jackson Middle School (math 3% / reading 8%, grade F, #326 of 330 statewide, top 99%, 528 students, 82% FRL); Riley High School (math 19% / reading 46%, grade F, #293 of 369 statewide, top 80%, 992 students, 67% FRL).
• Market conditions: 190 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 73% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($147k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago; this cycle's ask has dropped $11k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $33k; list at $149k implies a 352% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1944 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $146,765 (1.5% below list)

Questions for the listing agent

1. Built in 1944 — 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. 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: 1.04% ✓
• Cap rate: 8.61%
• Cash-on-cash: 8.29%
• DSCR: 1.37
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $179,974
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3504 Addison St	0.19mi	3/1.0 (-1)	1,682 (0%)	8mo	$180,000	$107	79
205 E Jennings Ave	0.21mi	3/2.0 (-1)	1,656 (-2%)	4mo	$177,200	$107	75
3407 S Michigan St	0.07mi	3/1.5 (-1)	1,632 (-3%)	12mo	$200,000	$123	74
305 Dean St	0.26mi	3/2.0 (-1)	1,685 (+0%)	11mo	$240,000	$142	69
127 E Oakside St	0.40mi	4/2.0	1,836 (+9%)	2mo	$168,000	$92	61
313 E Irvington Ave	0.58mi	3/2.0 (-1)	1,608 (-4%)	3mo	$200,000	$124	54
3212 S Saint Joseph St	0.27mi	3/2.0 (-1)	1,496 (-11%)	10mo	$175,000	$117	52
234 E Victoria St	0.63mi	5/1.0 (+1)	1,776 (+6%)	6mo	$72,000	$41	51
2617 Erskine Blvd	0.74mi	3/1.5 (-1)	1,760 (+5%)	0mo	$247,000	$140	50
809 E Donmoyer Ave	0.69mi	3/1.5 (-1)	1,780 (+6%)	3mo	$169,900	$95	48
416 E Chippewa Ave	0.48mi	3/2.0 (-1)	1,440 (-14%)	6mo	$126,400	$88	40
213 E Victoria St	0.64mi	3/1.0 (-1)	1,440 (-14%)	5mo	$135,000	$94	37

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -3.7%
• Equity multiple: 0.86×
• Total profit: $-5,822
• Equity at exit: $22,216

10-year hold

• IRR: 5.9%
• Equity multiple: 1.44×
• Total profit: $18,430
• Equity at exit: $12,883

Cash invested: $41,720 (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 46614

• Home prices YoY: -32.0%
• Active inventory: 190
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,551 high
• Mortgage (P&I): −$781
• Tax from tax record: −$94 /mo · $1,125/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$326
• Net cashflow: $288

Break-even live

Break-even rent $1,186

Max offer price $149,000

Occupancy floor 76%

Sensitivity live

Price	-10% $373	-5% $330	+0% $288	+5% $246	+10% $204
Rent	-10% $166	-5% $227	+0% $288	+5% $349	+10% $411
Rate	-1.0pp $363	-0.5pp $326	base $288	+0.5pp $250	+1.0pp $210

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3406 Whitcomb Ave South Bend, IN	4.0	3.0	1665	$7,887	$4.74	44d	1	0.20mi
405 E Woodside St South Bend, IN	3.0	1.0	1440	$1,425	$0.99	21d	1	0.45mi
416 E Chippewa Ave South Bend, IN	4.0	2.0	1440	$1,900	$1.32	44d	1	0.47mi
525 E Eckman St South Bend, IN	3.0	1.0	1400	$1,500	$1.07	44d	1	0.61mi
114 Altgeld St South Bend, IN	3.0	2.0	1680	$1,399	$0.83	44d	1	0.67mi
1007 E Chippewa Ave South Bend, IN	3.0	1.0	1344	$1,399	$1.04	44d	1	0.77mi
821 E Fairview Ave South Bend, IN	3.0	1.0	1248	$1,399	$1.12	44d	1	0.88mi
909 E Fairview Ave South Bend, IN	3.0	1.0	1128	$1,450	$1.29	44d	1	0.91mi
2002 Catalpa Ave South Bend, IN	3.0	1.0	1424	$1,250	$0.88	21d	1	1.07mi
317 E Indiana Ave South Bend, IN	3.0	1.0	1344	$1,200	$0.89	21d	1	1.29mi
1912 Miami St Unit 1912 South Bend, IN	3.0	1.5	1300	$1,400	$1.08	44d	1	1.30mi

Listing history 18 events

1. 2026-06-18
   days on market $149,000 Active 24 DOM
2. 2026-06-17
   days on market $149,000 Active 23 DOM
3. 2026-06-16
   days on market $149,000 Active 22 DOM
4. 2026-06-15
   days on market $149,000 Active 21 DOM
5. 2026-06-14
   days on market $149,000 Active 19 DOM
6. 2026-06-13
   days on market $149,000 Active 18 DOM
7. 2026-06-10
   days on market $149,000 Active 16 DOM
8. 2026-06-09
   pricedays on market $149,000 Active 15 DOM
9. 2026-06-08
   days on market $160,000 Active 14 DOM
10. 2026-06-07
    days on market $160,000 Active 13 DOM
11. 2026-06-03
    days on market $160,000 Active 9 DOM
12. 2026-06-02
    days on market $160,000 Active 8 DOM
13. 2026-06-01
    days on market $160,000 Active 7 DOM
14. 2026-05-31
    days on market $160,000 Active 6 DOM
15. 2026-05-30
    days on market $160,000 Active 5 DOM
16. 2026-05-25
    listed $160,000 Active
17. 2016-08-26
    soldstatus $33,000 478-char remark

    Show marketing remark (478 chars)

    PRICE REDUCED !!! ADORABLE HOME IN MOVE IN CONDITION. LIGHT AND BRIGHT ALL FRESHLY PAINTED. NEW FLOORING IN MOST ROOMS. OPEN DINING/KITCHEN, ONE MAIN FLOOR BEDROOM AND TWO UPSTAIRS. BACK ENTRY PORCH, FULLY FENCED YARD, 1.5 CAR GARAGE AND FINISHED FAMILY ROOM IN LOWER LEVEL (11 X 22) ALSO EXTRA ROOM IN BASEMENT FOR WOOD WORKING OR CRAFTS. NEW GLASS BLOCK WINDOW IN BATHROOM, NEWER WINDOWS AND APPLIANCES ARE ALL STAYING. SELLER WILL INSTALL NEW CENTRAL AIR UNIT BEFORE CLOSING.

18. 2014-09-16
    listed $45,000 478-char remark

    Show marketing remark (478 chars)

    PRICE REDUCED !!! ADORABLE HOME IN MOVE IN CONDITION. LIGHT AND BRIGHT ALL FRESHLY PAINTED. NEW FLOORING IN MOST ROOMS. OPEN DINING/KITCHEN, ONE MAIN FLOOR BEDROOM AND TWO UPSTAIRS. BACK ENTRY PORCH, FULLY FENCED YARD, 1.5 CAR GARAGE AND FINISHED FAMILY ROOM IN LOWER LEVEL (11 X 22) ALSO EXTRA ROOM IN BASEMENT FOR WOOD WORKING OR CRAFTS. NEW GLASS BLOCK WINDOW IN BATHROOM, NEWER WINDOWS AND APPLIANCES ARE ALL STAYING. SELLER WILL INSTALL NEW CENTRAL AIR UNIT BEFORE CLOSING.

ⓘ 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: $1,125 · $94/mo
• Projected year-2 tax: $1,196 · $100/mo
• Expected delta: +$71/yr (+$6/mo · 6.3%)

ⓘ 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 ≥98°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,614
• − Mortgage interest: −$8,346
• − Property taxes: −$1,125
• − Insurance: −$745
• − Repairs & maintenance: −$1,489
• − Management: −$1,489
• − Depreciation: −$4,335
• Taxable income: $1,085
• Est. tax owed @ 24.0%: −$260
• After-tax cash flow: $3,198/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): 29,602
• Household income: $74,153
• Rent vs Own: 20.3% rent · 79.7% own
• Severe rent burden: 496.0

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 (71%)
• Race & ethnicity: White 71% Black 13% Two or more races 10% Hispanic / Latino 9% Asian 2%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 8% Italian 2% Iranian 2%
• Foreign-born: 5% · Canada, South Korea, Jamaica
• Languages at home: 92% English-only · Spanish 4%

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: ▼ -100.12%
• Current HPI: 212.2634
• Rent YoY: —
• 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

+255.6% since first listed

3 events — show timeline

• 2026-05-25 Listed $160,000 IRMLS
• 2016-08-26 Sold (MLS) $33,000 IRMLS
• 2014-09-16 Listed $45,000 IRMLS

Property tax history

-7.9%/yr

Latest (2023): $1,125 · -0.7% YoY. Source: county tax records.