1129 Huey St · South Bend, IN 46628

$57,500

4 bd · 1.5 ba · 960 sqft · SingleFamily public records · 7 Days on market

Built 1919 5,200 sqft lot Est $114k · 50% 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 +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.2/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Calling all investors, flippers, or handy buyers! This is a great opportunity with excellent potential for rental, flip, or to renovate your own home in a desirable location. Home is cleaned out and ready for rehab. Property to be sold As-Is

Key facts

• 5,200 sq ft lot
• Built 1919
• Listed 7 days

Property features AI

Finance

• Financial info: Annual taxes listed at $780

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; 2 stories
• Construction: Built with other construction materials
• Exterior features: Lot dimensions approximately 40 x 130; Lot about 0.12 acres

Interior

• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; No air conditioning
• Interior features: 8 total rooms; Unfinished basement
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $58k.

Deal economics

• At list price, monthly cash flow is $691 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $58k).
• Cap rate 20.7% 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: Muessel Elementary School (math 2% / reading 2%, grade F, #989 of 994 statewide, top 100%, 241 students, 88% FRL); Jefferson Traditional School (math 12% / reading 22%, grade F, #284 of 330 statewide, top 87%, 516 students, 64% FRL); Adams High School (math 28% / reading 57%, grade F, #195 of 369 statewide, top 53%, 1,976 students, 56% FRL) — zoned schools at 69% FRL track the district average.
• Market conditions: Rents rising fast (+6.8%/yr); 424 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $398 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.8% rent growth), your $16k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y ago 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 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $57,500

Questions for the listing agent

1. Built in 1919 — 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: 2.38% ✓
• Cap rate: 20.72%
• Cash-on-cash: 51.54%
• DSCR: 3.29
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $114,240
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1119 College St	0.25mi	3/1.0 (-1)	960 (0%)	3mo	$121,000	$126	79
1122 Fremont St	0.16mi	3/1.0 (-1)	1,008 (+5%)	2mo	$120,000	$119	75
1233 Huey St	0.11mi	3/1.0 (-1)	1,008 (+5%)	5mo	$75,000	$74	75
1234 Obrien St	0.14mi	3/1.0 (-1)	1,058 (+10%)	3mo	$47,500	$45	67
2317 Roger St	0.52mi	3/1.0 (-1)	995 (+4%)	4mo	$146,000	$147	60
1414 Wilber St	0.49mi	3/1.0 (-1)	1,020 (+6%)	0mo	$118,000	$116	59
2226 Roger St	0.54mi	3/1.0 (-1)	936 (-2%)	6mo	$57,150	$61	59
1310 N Brookfield St	0.26mi	3/1.0 (-1)	1,092 (+14%)	2mo	$140,000	$128	57
1233 Wilber St	0.39mi	3/1.0 (-1)	1,079 (+12%)	0mo	$67,490	$63	54
925 Sancome Ave	0.49mi	3/1.0 (-1)	864 (-10%)	1mo	$108,000	$125	52
1838 N Brookfield St	0.74mi	3/1.0 (-1)	1,008 (+5%)	4mo	$155,000	$154	47
2121 Linden Ave	0.73mi	3/1.0 (-1)	1,072 (+12%)	2mo	$70,000	$65	38

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 · 6.78% rent growth · sell at horizon

5-year hold

• IRR: 53.6%
• Equity multiple: 3.49×
• Total profit: $40,132
• Equity at exit: $8,573

10-year hold

• IRR: 60.3%
• Equity multiple: 8.18×
• Total profit: $115,651
• Equity at exit: $4,972

Cash invested: $16,100 (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 46628

• Rents YoY: 6.8%
• Active inventory: 424
• Price-to-rent: 3.5×

Monthly cashflow live

• Estimated rent: $1,367 high
• Mortgage (P&I): −$302
• Tax from tax record: −$63 /mo · $754/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$287
• Net cashflow: $691

Break-even live

Break-even rent $492

Max offer price $57,500

Occupancy floor 44%

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: $14,375
• Closing costs: $1,725
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1141 Fremont St South Bend, IN	3.0	1.0	760	$1,100	$1.45	21d	1	0.16mi
2013 Elwood Ave South Bend, IN	3.0	1.0	720	$999	$1.39	44d	1	0.31mi
1505 Huey St South Bend, IN	3.0	1.0	864	$1,425	$1.65	21d	1	0.34mi
1630 Obrien St South Bend, IN	3.0	1.0	1120	$1,400	$1.25	13d	1	0.47mi
1710 Johnson St South Bend, IN	3.0	1.0	1000	$1,350	$1.35	44d	1	0.57mi
736 Lawndale Ave Unit 1 South Bend, IN	3.0	1.0	1072	$1,200	$1.12	13d	1	0.67mi
1214 Queen St South Bend, IN	3.0	1.0	1056	$1,300	$1.23	13d	1	0.83mi
1428 Kessler Blvd South Bend, IN	3.0	1.0	936	$1,000	$1.07	44d	1	0.84mi
910 Allen St South Bend, IN	3.0	1.0	1100	$1,350	$1.23	21d	1	0.85mi
1033 Beale St South Bend, IN	3.0	1.0	840	$1,250	$1.49	21d	1	1.08mi
208 S Bendix Dr South Bend, IN	3.0	1.0	864	$1,150	$1.33	21d	1	1.17mi
344 Parkovash Ave South Bend, IN	3.0	1.0	950	$1,900	$2.00	13d	1	1.37mi

Listing history 8 events

1. 2026-06-07
   statusdays on market $57,500 Pending 7 DOM
2. 2026-06-03
   days on market $57,500 Active 6 DOM
3. 2026-06-02
   days on market $57,500 Active 5 DOM
4. 2026-06-01
   days on market $57,500 Active 4 DOM
5. 2026-05-31
   days on market $57,500 Active 3 DOM
6. 2026-05-30
   days on market $57,500 Active 2 DOM
7. 2026-05-28
   listed $57,500 Active
8. 2016-02-01
   listed $25,900

ⓘ 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: $754 · $63/mo
• Projected year-2 tax: $754 · $63/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 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: $16,402
• − Mortgage interest: −$3,221
• − Property taxes: −$754
• − Insurance: −$288
• − Repairs & maintenance: −$1,312
• − Management: −$1,312
• − Depreciation: −$1,673
• Taxable income: $7,842
• Est. tax owed @ 24.0%: −$1,882
• After-tax cash flow: $6,415/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): 27,685
• Household income: $61,759
• Rent vs Own: 31.6% rent · 68.4% own
• Severe rent burden: 1024.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 55% Black 30% Hispanic / Latino 10% Two or more races 8%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 12% Lithuanian 1% Slovak 1%
• Foreign-born: 7% · Canada, China
• Languages at home: 89% English-only · Spanish 7% 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: ▼ -130.47%
• Current HPI: 202.112
• Rent YoY: ▲ 6.78%
• 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

+122.0% since first listed

2 events — show timeline

• 2026-05-28 Listed $57,500 IRMLS
• 2016-02-01 Listed $25,900 IRMLS

Property tax history

-7.2%/yr

Latest (2024): $754 · -1.4% YoY. Source: county tax records.