613 E Broadway St · South Bend, IN 46601

$100,000

3 bd · 1.0 ba · 1,344 sqft · SingleFamily public records · 35 Days on market

Built 1925 6,120 sqft lot Est $118k · 15% 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 +30.0/30.0
• ARV discount +14.5/15.0
• DSCR +10.0/10.0
• 1% rule +8.3/10.0
• 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

BACK ON MARKET NO FAULT TO SELLER!! Investor Alert! This 3-bedroom home is full of character and potential, ready for the right vision to bring it back to life. Ideal for a primary residence, flip, or rental addition, the home features a spacious kitchen, comfortable living area, and well-sized bedrooms. Outside, you’ll find a large 2-car garage. Major updates include a new roof and water heater (2025). A great opportunity to add value and create something special! Motivated seller. Bring all offers!

Key facts

• 6,120 sq ft lot
• 2 garage spots
• Built 1925

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; 2 stories
• Construction: Asphalt construction material
• Exterior features: Level lot; Lot dimensions approximately 40 x 153

Interior

• Kitchen: Refrigerator; Gas Range
• Bedrooms: Total rooms: 8
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Refrigerator; Gas Range; Unfinished basement
• Laundry & utility: Laundry in basement; Has heating (Forced Air)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $437 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $97k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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: 14 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 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 $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 2 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.
• Current owner paid $40k; list at $100k implies a 151% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $97,000 (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 1925 — 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: 1.33% ✓
• Cap rate: 11.54%
• Cash-on-cash: 18.74%
• DSCR: 1.83
• GRM: 6.3

CMA / ARV

• ARV (on-the-fly): $118,272
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
922 Milton St	0.46mi	3/1.5	1,344 (0%)	3mo	$60,000	$45	74
1133 Milton St	0.56mi	3/1.0	1,344 (0%)	0mo	$85,000	$63	74
1149 E Indiana Ave	0.49mi	4/1.5 (+1)	1,344 (0%)	1mo	$90,000	$67	70
1122 Milton St	0.55mi	3/1.0	1,328 (-1%)	4mo	$135,000	$102	69
122 E Indiana Ave	0.39mi	3/1.0	1,248 (-7%)	4mo	$110,000	$88	67
713 Arch Ave	0.63mi	3/2.0	1,344 (0%)	4mo	$124,000	$92	63
918 E Bowman St	0.54mi	3/1.0	1,248 (-7%)	1mo	$77,000	$62	62
316 E Dayton St	0.37mi	3/1.0	1,176 (-12%)	2mo	$77,000	$65	60
1112 E Fox St	0.71mi	3/1.0	1,300 (-3%)	2mo	$148,500	$114	60
1515 Lebanon St	0.21mi	2/1.0 (-1)	1,161 (-14%)	4mo	$140,000	$121	59
1530 Virginia St	0.34mi	4/1.5 (+1)	1,208 (-10%)	4mo	$130,000	$108	57
201 E Bowman St	0.55mi	3/2.0	1,456 (+8%)	0mo	$51,000	$35	56

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: 10.5%
• Equity multiple: 1.41×
• Total profit: $11,611
• Equity at exit: $14,910

10-year hold

• IRR: 19.6%
• Equity multiple: 2.64×
• Total profit: $45,849
• 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 46601

• Home prices YoY: -13.4%
• Active inventory: 14
• Price-to-rent: 6.3×

Monthly cashflow live

• Estimated rent: $1,329 high
• Mortgage (P&I): −$524
• Tax from tax record: −$46 /mo · $556/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $437

Break-even live

Break-even rent $775

Max offer price $100,000

Occupancy floor 62%

Sensitivity live

Price	-10% $494	-5% $465	+0% $437	+5% $409	+10% $381
Rent	-10% $332	-5% $385	+0% $437	+5% $490	+10% $542
Rate	-1.0pp $488	-0.5pp $463	base $437	+0.5pp $411	+1.0pp $385

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: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
317 E Indiana Ave South Bend, IN	3.0	1.0	1344	$1,200	$0.89	21d	1	0.21mi
1126 E Broadway St South Bend, IN	4.0	2.0	1492	$1,365	$0.91	21d	1	0.42mi
1149 E Indiana Ave South Bend, IN	4.0	2.0	1344	$1,200	$0.89	14d	1	0.47mi
202 E Calvert St South Bend, IN	2.0	1.0	1000	$999	$1.00	21d	1	0.50mi
1912 Miami St Unit 1912 South Bend, IN	3.0	1.5	1300	$1,400	$1.08	44d	1	0.55mi
2114 High St South Bend, IN	3.0	1.0	949	$1,300	$1.37	44d	1	0.56mi
214 Altgeld St South Bend, IN	2.0	1.0	950	$1,200	$1.26	21d	1	0.77mi
114 Altgeld St South Bend, IN	3.0	2.0	1680	$1,399	$0.83	44d	1	0.80mi
821 E Fairview Ave South Bend, IN	3.0	1.0	1248	$1,399	$1.12	44d	1	0.82mi
909 E Fairview Ave South Bend, IN	3.0	1.0	1128	$1,450	$1.29	44d	1	0.83mi
525 E Eckman St South Bend, IN	3.0	1.0	1400	$1,500	$1.07	44d	1	0.93mi
405 E Woodside St South Bend, IN	3.0	1.0	1440	$1,425	$0.99	21d	1	1.07mi
1729 E Calvert St South Bend, IN	3.0	1.0	900	$1,300	$1.44	44d	1	1.14mi
2002 Catalpa Ave South Bend, IN	3.0	1.0	1424	$1,250	$0.88	21d	1	1.14mi
911 E Washington St South Bend, IN	3.0	1.0	886	$1,195	$1.35	14d	1	1.17mi
913 E Washington St South Bend, IN	4.0	1.5	1312	$1,295	$0.99	21d	1	1.18mi
116 N Notre Dame Ave South Bend, IN	3.0	1.5	1524	$1,295	$0.85	14d	1	1.20mi
221 S Taylor St South Bend, IN	3.0	2.0	1178	$2,599	$2.21	14d	1	1.26mi
211 W Washington St South Bend, IN	3.0	1.0–2.5	1162	$7,491	$6.44	21d	19	1.27mi
1106 S 20th St South Bend, IN	1.0–3.0	1.0–2.0	885	$1,200	$1.36	14d	1	1.29mi
300 E Lasalle Ave South Bend, IN	3.0	1.0–3.0	1013	$3,009	$2.97	14d	31	1.34mi
307 E Lasalle Ave South Bend, IN	1.0–2.0	1.0–2.0	925	$1,670	$1.80	14d	22	1.37mi
3406 Whitcomb Ave South Bend, IN	4.0	3.0	1665	$7,887	$4.74	44d	1	1.43mi

Listing history 13 events

1. 2026-06-10
   status $100,000 Pending 35 DOM
2. 2026-06-09
   days on market $100,000 Active 35 DOM
3. 2026-06-08
   days on market $100,000 Active 34 DOM
4. 2026-06-07
   days on market $100,000 Active 33 DOM
5. 2026-06-03
   days on market $100,000 Active 29 DOM
6. 2026-06-02
   days on market $100,000 Active 28 DOM
7. 2026-06-01
   days on market $100,000 Active 27 DOM
8. 2026-05-31
   days on market $100,000 Active 26 DOM
9. 2026-05-30
   days on market $100,000 Active 25 DOM
10. 2026-05-17
    status Active
11. 2026-04-08
    status Pending
12. 2026-03-27
    listed $100,000 Active
13. 2020-12-15
    soldstatus $39,900

ⓘ 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: $556 · $46/mo
• Projected year-2 tax: $703 · $59/mo
• Expected delta: +$147/yr (+$12/mo · 26.4%)

ⓘ 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: $15,944
• − Mortgage interest: −$5,602
• − Property taxes: −$556
• − Insurance: −$500
• − Repairs & maintenance: −$1,275
• − Management: −$1,275
• − Depreciation: −$2,909
• Taxable income: $3,826
• Est. tax owed @ 24.0%: −$918
• After-tax cash flow: $4,328/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
• City population: 99,767
• Population (ZIP): 4,933

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 0.62)
• Race & ethnicity: White 53% Black 30% Two or more races 11% Hispanic / Latino 9%
• Hispanic origin (detail): Mexican 7%
• Common ancestry: Romanian 4% Italian 3% Slovak 3%
• Foreign-born: 5% · Canada
• Languages at home: 92% English-only · Spanish 4% German/W. Germanic 1% Other Indo-European 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: ▼ -33.25%
• Current HPI: 215.0749
• Rent YoY: —
• Metro: —
• 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

+150.6% since first listed

4 events — show timeline

• 2026-05-17 Relisted — IRMLS
• 2026-04-08 Pending — IRMLS
• 2026-03-27 Listed $100,000 IRMLS
• 2020-12-15 Sold (Public Records) $39,900 Public Records

Property tax history

-9.0%/yr

Latest (2023): $556 · +4.8% YoY. Source: county tax records.