2919 S 11th St · South Bend, IN 49120

$85,000

2 bd · 1.0 ba · 690 sqft · SingleFamily public records · 35 Days on market

Built 1922 0.26 ac lot $123/sqft · 35% below area Est $131k · 35% under

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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 +25.4/30.0
• ARV discount +15.0/15.0
• DSCR +8.4/10.0
• 1% rule +6.6/10.0
• Livability +3.2/5.0
• Schools +2.7/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Webster's Dictionary describes a Fixer Upper as 'something (such as a house) that needs fixing up'. Well that aptly describes this property! Built in 1922 with 690 square feet and 320 square foot garage. Structure has vinyl siding and replacement windows. There is an older well but municipal water & sewer are available. The interior is gutted waiting you and your renovation vision. Zoned Residential, Residential/General Business meaning you can have this property be a home, a business or a home based business. IF you are viewing this on Zillow or similar, please scroll to the listing agent.

Key facts

• Municipal water
• Zoned residential
• Vinyl siding

Tags

• VINYL SIDING
• REPLACEMENT WINDOWS
• MUNICIPAL WATER
• MUNICIPAL SEWER
• ZONED RESIDENTIAL
• ZONED GENERAL BUSINESS

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Well water; Natural gas available; Electricity available
• Home design: Single-family residence; Residential property; Built in 1922
• Construction: Vinyl siding
• Exterior features: Paved road access; Lot of 0.26 acres

Interior

• Interior features: Replacement windows; Full basement; 5 total rooms

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $195 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($982 rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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.
• Brandywine Community Schools (suburban): math 25% / reading 38% proficiency, ranked #342 of 540 in MI (top 63%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 397 units permitted in Berrien County in 2024 (40 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $588 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Berrien County population projected at -16% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $82,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 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 1922 — 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: 1.16% ✓
• Cap rate: 9.05%
• Cash-on-cash: 9.85%
• DSCR: 1.44
• GRM: 7.2

CMA / ARV

• ARV (median comp): $130,614
• List price: $85,000
• Delta: -34.92%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3030 S 13th St	0.37mi	3/1.0 (+1)	735 (+6%)	6mo	$129,100	$176	62
128 Silsbee St	0.63mi	2/1.0	720 (+4%)	9mo	$101,000	$140	56
2751 West St	0.63mi	2/2.0	720 (+4%)	6mo	$8,000	$11	54
229 Roberts St	0.44mi	2/1.0	786 (+14%)	16mo	$150,000	$191	43
20141 Layden St	0.69mi	2/1.0	641 (-7%)	16mo	$117,000	$183	42
19910 Elizabeth St	0.73mi	2/1.0	768 (+11%)	24mo	$90,500	$118	27

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: -1.5%
• Equity multiple: 0.94×
• Total profit: $-1,315
• Equity at exit: $12,674

10-year hold

• IRR: 8.2%
• Equity multiple: 1.63×
• Total profit: $14,926
• Equity at exit: $7,349

Cash invested: $23,800 (down + closing). Projections, not guarantees.

Monthly cashflow live

• Estimated rent: $982 medium
• Mortgage (P&I): −$446
• Tax from tax record: −$99 /mo · $1,190/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$206
• Net cashflow: $195

Break-even live

Break-even rent $735

Max offer price $85,000

Occupancy floor 75%

Sensitivity live

Price	-10% $244	-5% $220	+0% $195	+5% $171	+10% $147
Rent	-10% $118	-5% $157	+0% $195	+5% $234	+10% $273
Rate	-1.0pp $238	-0.5pp $217	base $195	+0.5pp $173	+1.0pp $151

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Listing history 18 events

1. 2026-06-18
   days on market $85,000 Active 35 DOM
2. 2026-06-17
   days on market $85,000 Active 34 DOM
3. 2026-06-16
   days on market $85,000 Active 33 DOM
4. 2026-06-15
   days on market $85,000 Active 32 DOM
5. 2026-06-14
   days on market $85,000 Active 30 DOM
6. 2026-06-13
   days on market $85,000 Active 29 DOM
7. 2026-06-10
   days on market $85,000 Active 27 DOM
8. 2026-06-09
   days on market $85,000 Active 26 DOM
9. 2026-06-08
   days on market $85,000 Active 25 DOM
10. 2026-06-07
    days on market $85,000 Active 24 DOM
11. 2026-06-05
    days on market $85,000 Active 21 DOM
12. 2026-06-02
    days on market $85,000 Active 19 DOM
13. 2026-06-01
    days on market $85,000 Active 18 DOM
14. 2026-05-31
    days on market $85,000 Active 17 DOM
15. 2026-05-30
    days on market $85,000 Active 16 DOM
16. 2026-05-14
    listed $85,000 Active 601-char remark

    Show marketing remark (603 chars)

    Webster's Dictionary describes a Fixer Upper as 'something (such as a house) that needs fixing up'. Well that aptly describes this property! Built in 1922 with 690 square feet and 320 square foot garage. Structure has vinyl siding and replacement windows. There is an older well but municipal water & sewer are available. The interior is gutted waiting you and your renovation vision. Zoned Residential, Residential/General Business meaning you can have this property be a home, a business or a home based business. IF you are viewing this on Zillow or similar, please scroll to the listing agent.

17. 2026-05-14
    listed $85,000 Active 603-char remark

    Show marketing remark (603 chars)

    Webster's Dictionary describes a Fixer Upper as 'something (such as a house) that needs fixing up'. Well that aptly describes this property! Built in 1922 with 690 square feet and 320 square foot garage. Structure has vinyl siding and replacement windows. There is an older well but municipal water & sewer are available. The interior is gutted waiting you and your renovation vision. Zoned Residential, Residential/General Business meaning you can have this property be a home, a business or a home based business. IF you are viewing this on Zillow or similar, please scroll to the listing agent.

18. 2026-05-14
    listed $85,000 Active

    Show marketing remark (603 chars)

    Webster's Dictionary describes a Fixer Upper as 'something (such as a house) that needs fixing up'. Well that aptly describes this property! Built in 1922 with 690 square feet and 320 square foot garage. Structure has vinyl siding and replacement windows. There is an older well but municipal water & sewer are available. The interior is gutted waiting you and your renovation vision. Zoned Residential, Residential/General Business meaning you can have this property be a home, a business or a home based business. IF you are viewing this on Zillow or similar, please scroll to the listing agent.

ⓘ 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: $1,190 · $99/mo
• Projected year-2 tax: $1,190 · $99/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°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: $11,784
• − Mortgage interest: −$4,761
• − Property taxes: −$1,190
• − Insurance: −$425
• − Repairs & maintenance: −$943
• − Management: −$943
• − Depreciation: −$2,473
• Taxable income: $1,049
• Est. tax owed @ 24.0%: −$252
• After-tax cash flow: $2,093/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: Brandywine Community Schools
• NCES district ID: 2606600
• Math proficiency: 25% ▼ -7.00%
• Reading proficiency: 38% ▼ -4.00%
• Median HH income: $46,075
• Composite: 27.02/100
• National rank: #7059
• State rank: #342 of 540 in MI

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: Berrien County
• City population: 99,767
• Metro: Niles, MI
• Population (ZIP): 36,495
• Household income: $65,148
• Rent vs Own: 20.9% rent · 79.1% own
• Severe rent burden: 782.0

Population outlook (Berrien County) Hauer SSP2

• Today (2025): 149,273 people
• By 2030: 145,211 · -2.7%
• By 2040: 135,435 · -9.3%
• By 2050: 125,543 · -15.9%
• By 2075: 103,986 · -30.3%
• By 2100: 82,256 · -44.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Black 7% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Romanian 5% Iranian 3% Lithuanian 2%
• Foreign-born: 3% · Canada
• Languages at home: 96% English-only · Spanish 2%

Political lean MEDSL · Berrien

• 2024 margin: Lean R (+7.9) · D 45.4% · R 53.2% · Other 1.4%
• 2008→2024 swing: -13.3pp toward R · 2008: 5.5pp · 2024: -7.9pp
• All cycles: 2024: R+7.9 2020: R+7.4 2016: R+12.7 2012: R+6.6 2008: D+5.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -345.26%
• Current HPI: 195.8214
• Rent YoY: —
• Metro: Niles, 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

+0.0% since first listed

3 events — show timeline

• 2026-05-14 Listed $85,000 REALCOMP
• 2026-05-14 Listed $85,000 MiRealSource-MiMLS
• 2026-05-14 Listed $85,000 SW Michigan MLS

Property tax history

-0.5%/yr

Latest (2024): $1,190 · +25.8% YoY. Source: county tax records.