3706 W Jefferson Blvd · South Bend, IN 46619

$154,800

3 bd · 1.0 ba · 1,344 sqft · SingleFamily public records · 27 Days on market

Built 1951 5,676 sqft lot Est $141k · 10% 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 +13.2/30.0
• DSCR +4.0/10.0
• Livability +3.2/5.0
• 1% rule +3.1/10.0
• ARV discount +3.1/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this completely transformed now a 4-bedroom, 1-bathroom single-family home that has been fully renovated from top to bottom! Situated on a large lot in the established LaSalle Park neighborhood, this 1,344 sq ft home now offers modern living with brand-new everything, an added 4th bedroom and incredible value. Step outside and you’ll immediately notice the brand-new roof that gives this home outstanding curb appeal. Inside, every major system has been updated for years of worry-free ownership with new plumbing, a new water heater, furnace, 3 window A/C units , and a new garage door with opener for the spacious attached 2-car garage. The interior is light, bright, and c

Key facts

• Fully renovated
• New furnace
• New plumbing

Tags

• FULLY RENOVATED
• LARGE LOT
• NEW ROOF
• NEW PLUMBING
• NEW WATER HEATER
• NEW FURNACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $-4 ($-46/yr) — negative.
• To cash-flow at today's rent, offer at most $154k (0.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $126k (18.9% below list).
• Recommended offer: $126k (18.9% below list) — sets the bar for 1% rule.
• Cap rate 6.3% vs local median 4.3% 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: Harrison Elementary School (math 3% / reading 3%, grade F, #988 of 994 statewide, top 99%, 654 students, 91% FRL); Navarre Middle School (math 0% / reading 4%, grade F, #330 of 330 statewide, top 100%, 519 students, 83% FRL); Washington High School (math 12% / reading 42%, grade F, #315 of 369 statewide, top 86%, 834 students, 79% FRL) — zoned schools average 85% FRL vs 66% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 53 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 27 days — a 2% lower offer ($152k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $125,530 (18.9% 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 1951 — 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. 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?
7. 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.
8. 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.
9. 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: 0.81% ✗
• Cap rate: 6.26%
• Cash-on-cash: -0.11%
• DSCR: 1.00
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $141,120
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3706 W Jefferson Blvd	0.00mi	4/1.0 (+1)	1,344 (0%)	0mo	$165,000	$123	95
261 N Kenmore St	0.35mi	3/1.0	1,247 (-7%)	8mo	$95,000	$76	65
326 S Falcon St	0.19mi	3/1.5	1,200 (-11%)	8mo	$152,000	$127	65
417 S Gladstone St	0.41mi	3/2.0	1,440 (+7%)	4mo	$142,900	$99	62
212 N Gladstone Ave	0.43mi	4/1.0 (+1)	1,440 (+7%)	4mo	$115,000	$80	60
605 S Illinois St	0.36mi	2/1.0 (-1)	1,479 (+10%)	7mo	$133,000	$90	55
4527 Ford St	0.62mi	3/1.0	1,523 (+13%)	4mo	$160,000	$105	45
310 S Kaley St	0.66mi	3/1.0	1,158 (-14%)	2mo	$144,000	$124	45
729 S Edison Ave	0.55mi	2/1.0 (-1)	1,163 (-14%)	8mo	$80,000	$69	41
726 Liberty St	0.70mi	3/1.0	1,172 (-13%)	9mo	$60,000	$51	39
4629 Linden Ave	0.73mi	3/1.0	1,527 (+14%)	8mo	$190,000	$124	36
421 N Grandview Ave	0.72mi	3/1.5	1,152 (-14%)	5mo	$245,000	$213	36

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: -16.5%
• Equity multiple: 0.42×
• Total profit: $-25,353
• Equity at exit: $23,081

10-year hold

• IRR: -8.3%
• Equity multiple: 0.48×
• Total profit: $-22,497
• Equity at exit: $13,384

Cash invested: $43,344 (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 46619

• Home prices YoY: -29.9%
• Active inventory: 53
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,255 high
• Mortgage (P&I): −$812
• Tax from tax record: −$119 /mo · $1,430/yr
• Insurance: −$64
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $-4

Break-even live

Break-even rent $1,260

Max offer price $154,129

Occupancy floor 95%

Sensitivity live

Price	-10% $84	-5% $40	+0% $-4	+5% $-48	+10% $-91
Rent	-10% $-103	-5% $-53	+0% $-4	+5% $46	+10% $95
Rate	-1.0pp $74	-0.5pp $36	base $-4	+0.5pp $-44	+1.0pp $-85

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: $38,700
• Closing costs: $4,644
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
421 S Lake St South Bend, IN	2.0	1.0	900	$1,200	$1.33	45d	1	0.27mi
164 S Gladstone Ave South Bend, IN	4.0	1.0	1440	$1,365	$0.95	45d	1	0.30mi
513 S Edison Ave South Bend, IN	3.0	1.0	1152	$1,195	$1.04	23d	1	0.44mi
453 S Kaley St Unit 1 South Bend, IN	2.0	1.0	1100	$1,050	$0.95	45d	1	0.67mi
2502 Ford St South Bend, IN	3.0	1.0	1176	$1,175	$1.00	45d	1	0.89mi
2417 Linden Ave South Bend, IN	2.0	1.0	1000	$1,200	$1.20	45d	1	0.91mi
2203 Smith St South Bend, IN	3.0	1.0	1248	$1,215	$0.97	15d	1	1.05mi
2205 Lincoln Way W South Bend, IN	4.0	2.0	1440	$1,565	$1.09	15d	1	1.35mi
2010 Lincoln Way W Unit 2 South Bend, IN	3.0	1.0	1150	$1,325	$1.15	23d	1	1.38mi
1046 N Elmer St South Bend, IN	2.0	1.0	1050	$1,025	$0.98	23d	1	1.38mi
1008 O Brien St Unit O South Bend, IN	3.0	1.0	1634	$800	$0.49	23d	1	1.41mi
1054 Huey St South Bend, IN	4.0	2.0	1288	$1,550	$1.20	15d	1	1.43mi

Listing history 2 events

1. 2026-03-30
   status Pending
2. 2026-03-03
   listed $154,800 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: $1,430 · $119/mo
• Projected year-2 tax: $1,430 · $119/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 5/10 Major FEMA zone X (unshaded) · 62% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,064
• − Mortgage interest: −$8,671
• − Property taxes: −$1,430
• − Insurance: −$774
• − Repairs & maintenance: −$1,205
• − Management: −$1,205
• − Depreciation: −$4,503
• Taxable loss: −$2,725
• Est. tax savings @ 24.0%: +$654
• After-tax cash flow: $608/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): 21,179

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 0.67)
• Race & ethnicity: White 40% Hispanic / Latino 37% Black 19% Two or more races 19%
• Hispanic origin (detail): Mexican 32% Puerto Rican 1%
• Common ancestry: Romanian 12% English 1% Slovak 1%
• Foreign-born: 13% · Canada, Jamaica
• Languages at home: 69% English-only · Spanish 30% Russian/Polish/Slavic 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: ▼ -95.16%
• Current HPI: 223.6464
• 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

2 events — show timeline

• 2026-03-30 Pending — IRMLS
• 2026-03-03 Listed $154,800 IRMLS

Property tax history

+6.4%/yr

Latest (2023): $1,430 · -0.7% YoY. Source: county tax records.