1133 E Donald St · South Bend, IN 46613

$80,000

3 bd · 1.0 ba · 1,296 sqft · SingleFamily public records · 238 Days on market

Built 1910 4,356 sqft lot $62/sqft · 42% below area Est $137k · 42% under ↓ 6% since listing

---

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 +3.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

* Seller financing available * This 3-bedroom, 1-bath home is an Investment Opportunity with Great Potential! The Interior and exterior still needs some attention, giving you the perfect chance to add value and increase curb appeal. Conveniently located near local amenities, schools, and downtown access, this property is ideal for anyone looking to finish a project and unlock its full potential.

Key facts

• 4,356 sq ft lot
• Garage
• Built 1910

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $486 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.6% 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, 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 (+4.1%/yr); 77 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 63% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 754 units permitted in St. Joseph County in 2024 (460 in 5+ unit buildings).
• This rent runs 40% of the median local income ($43k/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 $553 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 238 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 238 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.77% ✓
• Cap rate: 13.58%
• Cash-on-cash: 26.01%
• DSCR: 2.16
• GRM: 4.7

CMA / ARV

• ARV (median comp): $137,423
• List price: $80,000
• Delta: -41.79%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1112 E Fox St	0.09mi	3/1.0	1,300 (+0%)	2mo	$148,500	$114	94
1133 Milton St	0.17mi	3/1.0	1,344 (+4%)	0mo	$85,000	$63	86
918 E Bowman St	0.19mi	3/1.0	1,248 (-4%)	1mo	$77,000	$62	84
1149 E Indiana Ave	0.39mi	4/1.5 (+1)	1,344 (+4%)	1mo	$90,000	$67	68
2609 Rush St	0.63mi	3/1.0	1,332 (+3%)	2mo	$166,000	$125	65
1725 E Ewing Ave	0.65mi	2/1.0 (-1)	1,304 (+1%)	0mo	$170,835	$131	64
2517 Erskine Blvd	0.50mi	2/1.0 (-1)	1,248 (-4%)	2mo	$100,000	$80	63
1522 E Ewing Ave	0.48mi	3/1.5	1,411 (+9%)	0mo	$220,000	$156	60
514 E Fairview Ave	0.64mi	3/1.0	1,180 (-9%)	0mo	$172,500	$146	55
316 E Dayton St	0.65mi	3/1.0	1,176 (-9%)	2mo	$77,000	$65	53
1804 E Calvert St	0.69mi	3/1.0	1,104 (-15%)	2mo	$185,000	$168	42
201 E Bowman St	0.74mi	3/2.0	1,456 (+12%)	0mo	$51,000	$35	41

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 · 4.08% rent growth · sell at horizon

5-year hold

• IRR: 21.1%
• Equity multiple: 1.87×
• Total profit: $19,591
• Equity at exit: $11,928

10-year hold

• IRR: 30.0%
• Equity multiple: 3.84×
• Total profit: $63,710
• Equity at exit: $6,917

Cash invested: $22,400 (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 46613

• Home prices YoY: -7.2%
• Rents YoY: 4.1%
• Active inventory: 77
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,419 high
• Mortgage (P&I): −$420
• Tax from tax record: −$183 /mo · $2,193/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $486

Break-even live

Break-even rent $805

Max offer price $80,000

Occupancy floor 61%

Sensitivity live

Price	-10% $531	-5% $508	+0% $486	+5% $463	+10% $440
Rent	-10% $373	-5% $429	+0% $486	+5% $542	+10% $598
Rate	-1.0pp $526	-0.5pp $506	base $486	+0.5pp $465	+1.0pp $444

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1912 Miami St Unit 1912 South Bend, IN	3.0	1.5	1300	$1,400	$1.08	44d	1	0.12mi
2114 High St South Bend, IN	3.0	1.0	949	$1,300	$1.37	44d	1	0.31mi
909 E Fairview Ave South Bend, IN	3.0	1.0	1128	$1,450	$1.29	44d	1	0.39mi
1149 E Indiana Ave South Bend, IN	4.0	2.0	1344	$1,200	$0.89	14d	1	0.40mi
821 E Fairview Ave South Bend, IN	3.0	1.0	1248	$1,399	$1.12	44d	1	0.42mi
1126 E Broadway St South Bend, IN	4.0	2.0	1492	$1,365	$0.91	21d	1	0.49mi
1729 E Calvert St South Bend, IN	3.0	1.0	900	$1,300	$1.44	44d	1	0.64mi
525 E Eckman St South Bend, IN	3.0	1.0	1400	$1,500	$1.07	44d	1	0.69mi
317 E Indiana Ave South Bend, IN	3.0	1.0	1344	$1,200	$0.89	21d	1	0.73mi
202 E Calvert St South Bend, IN	2.0	1.0	1000	$999	$1.00	21d	1	0.77mi
214 Altgeld St South Bend, IN	2.0	1.0	950	$1,200	$1.26	21d	1	0.77mi
405 E Woodside St South Bend, IN	3.0	1.0	1440	$1,425	$0.99	21d	1	0.84mi
114 Altgeld St South Bend, IN	3.0	2.0	1680	$1,399	$0.83	44d	1	0.86mi
1007 E Chippewa Ave South Bend, IN	3.0	1.0	1344	$1,399	$1.04	44d	1	1.04mi
1106 S 20th St South Bend, IN	1.0–3.0	1.0–2.0	885	$1,200	$1.36	14d	1	1.07mi
3406 Whitcomb Ave South Bend, IN	4.0	3.0	1665	$7,887	$4.74	44d	1	1.18mi
819 S 24th St South Bend, IN	3.0	2.0	1480	$1,795	$1.21	44d	1	1.41mi
754 S 23rd St South Bend, IN	3.0	1.0	884	$1,300	$1.47	44d	1	1.42mi
416 E Chippewa Ave South Bend, IN	4.0	2.0	1440	$1,900	$1.32	44d	1	1.43mi

Listing history 17 events

1. 2026-06-18
   days on market $80,000 Active 238 DOM
2. 2026-06-17
   days on market $80,000 Active 237 DOM
3. 2026-06-16
   days on market $80,000 Active 236 DOM
4. 2026-06-15
   days on market $80,000 Active 235 DOM
5. 2026-06-14
   days on market $80,000 Active 233 DOM
6. 2026-06-13
   days on market $80,000 Active 232 DOM
7. 2026-06-10
   days on market $80,000 Active 230 DOM
8. 2026-06-09
   days on market $80,000 Active 229 DOM
9. 2026-06-08
   days on market $80,000 Active 228 DOM
10. 2026-06-07
    days on market $80,000 Active 227 DOM
11. 2026-06-03
    days on market $80,000 Active 223 DOM
12. 2026-06-02
    days on market $80,000 Active 222 DOM
13. 2026-06-01
    days on market $80,000 Active 221 DOM
14. 2026-05-31
    days on market $80,000 Active 220 DOM
15. 2026-02-23
    status Active 399-char remark

    Show marketing remark (399 chars)

    * Seller financing available * This 3-bedroom, 1-bath home is an Investment Opportunity with Great Potential! The Interior and exterior still needs some attention, giving you the perfect chance to add value and increase curb appeal. Conveniently located near local amenities, schools, and downtown access, this property is ideal for anyone looking to finish a project and unlock its full potential.

16. 2026-01-25
    price $85,000 399-char remark

    Show marketing remark (399 chars)

    * Seller financing available * This 3-bedroom, 1-bath home is an Investment Opportunity with Great Potential! The Interior and exterior still needs some attention, giving you the perfect chance to add value and increase curb appeal. Conveniently located near local amenities, schools, and downtown access, this property is ideal for anyone looking to finish a project and unlock its full potential.

17. 2025-10-24
    listed $90,000 Active 399-char remark

    Show marketing remark (399 chars)

    * Seller financing available * This 3-bedroom, 1-bath home is an Investment Opportunity with Great Potential! The Interior and exterior still needs some attention, giving you the perfect chance to add value and increase curb appeal. Conveniently located near local amenities, schools, and downtown access, this property is ideal for anyone looking to finish a project and unlock its full potential.

ⓘ 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: $2,193 · $183/mo
• Projected year-2 tax: $2,193 · $183/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 6/10 Major FEMA zone X (unshaded) · 68% 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: $17,030
• − Mortgage interest: −$4,481
• − Property taxes: −$2,193
• − Insurance: −$400
• − Repairs & maintenance: −$1,362
• − Management: −$1,362
• − Depreciation: −$2,327
• Taxable income: $4,904
• Est. tax owed @ 24.0%: −$1,177
• After-tax cash flow: $4,649/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): 12,279
• Household income: $42,537
• Rent vs Own: 46.6% rent · 53.4% own
• Severe rent burden: 545.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 41% Hispanic / Latino 24% Black 23% Two or more races 22% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Romanian 4% Italian 1% Slovak 1%
• Foreign-born: 9% · Canada, Philippines
• Languages at home: 81% English-only · Spanish 17% Other Asian/Pacific 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: ▼ -20.88%
• Current HPI: 270.0303
• Rent YoY: ▲ 4.08%
• 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

-5.6% since first listed

3 events — show timeline

• 2026-02-23 Relisted — IRMLS
• 2026-01-25 Price Changed $85,000 IRMLS
• 2025-10-24 Listed $90,000 IRMLS

Property tax history

+82.1%/yr

Latest (2023): $2,193 · -0.7% YoY. Source: county tax records.