811 E Ewing Ave · South Bend, IN 46613

$165,000

3 bd · 1.0 ba · 1,248 sqft · SingleFamily public records · 99 Days on market

Built 1920 4,756 sqft lot Est $142k · 16% over

---

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 +14.4/30.0
• DSCR +4.4/10.0
• Rent growth +3.5/5.0
• 1% rule +3.4/10.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• ARV discount +0.3/15.0
• Appreciation +0.0/10.0

Listing remarks

Charming 3-bedroom, 1.5-bath two-story home offering character, space, and abundant natural light throughout. A large front porch welcomes you and provides the perfect spot to relax and enjoy the neighborhood. Inside, you’ll find a spacious living area that flows into a formal dining room, ideal for gatherings and entertaining. The updated kitchen features newer appliances, and the main level also includes the convenience of first-floor laundry and a half bath. Upstairs are two generously sized bedrooms along with a third smaller bedroom that would also make a great home office, nursery, or flex space. The full bath includes a makeup/vanity area that could easily be converted into a s

Key facts

• Makeup vanity area
• Formal dining room
• Large front porch

Tags

• LARGE FRONT PORCH
• SPACIOUS LIVING AREA
• FORMAL DINING ROOM
• UPDATED KITCHEN
• FIRST-FLOOR LAUNDRY
• MAKEUP VANITY AREA

Property features AI

Finance

• Other: Lot dimensions approximately 41 x 116 (0.11 acre); Subdivision: Oak Park
• Financial info: Tax information excluded
• HOA & community: No HOA information provided

Exterior

• Parking: Off-street parking; No garage
• Security: No security features listed
• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; 2 stories
• Construction: Aluminum siding; Block foundation; Built details not provided
• Exterior features: Covered porch

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Gas range
• Bedrooms: Details not provided
• Flooring: Carpet; Tile; Other flooring
• Bathrooms: One full bathroom; One half bathroom; One main-level bathroom
• Heating & cooling: Central air; Ceiling fans; Natural gas heating; Forced air; Gravity heating
• Interior features: Ceiling fans; Laminate counters; One fireplace (no special features listed)
• Laundry & utility: Laundry on main level; Unfinished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $32 ($383/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $138k (16.2% below list).
• Recommended offer: $138k (16.2% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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: Lincoln Elementary School (math 7% / reading 6%, grade F, #964 of 994 statewide, top 97%, 467 students, 86% FRL); Riley High School (math 19% / reading 46%, grade F, #293 of 369 statewide, top 80%, 992 students, 67% FRL).
• Market conditions: Rents rising fast (+4.1%/yr); 77 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% 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 39% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 99 days — a 9% lower offer ($150k) 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 $28k; list at $165k implies a 489% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $138,242 (16.2% below list)

Questions for the listing agent

1. It's been on market 99 days. Have you received any prior offers? Is the seller open to a 16% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
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: 0.84% ✗
• Cap rate: 6.53%
• Cash-on-cash: 0.83%
• DSCR: 1.04
• GRM: 9.9

CMA / ARV

• ARV (on-the-fly): $142,272
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
918 E Bowman St	0.18mi	3/1.0	1,248 (0%)	1mo	$77,000	$62	91
2517 Erskine Blvd	0.23mi	2/1.0 (-1)	1,248 (0%)	2mo	$100,000	$80	83
1112 E Fox St	0.23mi	3/1.0	1,300 (+4%)	2mo	$148,500	$114	81
514 E Fairview Ave	0.35mi	3/1.0	1,180 (-5%)	0mo	$172,500	$146	74
2609 Rush St	0.34mi	3/1.0	1,332 (+7%)	2mo	$166,000	$125	72
1133 Milton St	0.40mi	3/1.0	1,344 (+8%)	0mo	$85,000	$63	68
822 E Woodside St	0.46mi	2/1.0 (-1)	1,213 (-3%)	2mo	$143,000	$118	67
316 E Dayton St	0.47mi	3/1.0	1,176 (-6%)	2mo	$77,000	$65	66
830 Eckman St	0.34mi	3/1.5	1,100 (-12%)	1mo	$79,000	$72	61
214 E Woodside St	0.65mi	3/2.0	1,208 (-3%)	2mo	$207,000	$171	59
1149 E Indiana Ave	0.60mi	4/1.5 (+1)	1,344 (+8%)	1mo	$90,000	$67	52
1522 E Ewing Ave	0.72mi	3/1.5	1,411 (+13%)	0mo	$220,000	$156	42

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: -13.9%
• Equity multiple: 0.50×
• Total profit: $-23,213
• Equity at exit: $24,602

10-year hold

• IRR: -3.5%
• Equity multiple: 0.75×
• Total profit: $-11,341
• Equity at exit: $14,266

Cash invested: $46,200 (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: 9.9×

Monthly cashflow live

• Estimated rent: $1,382 high
• Mortgage (P&I): −$865
• Tax from tax record: −$126 /mo · $1,514/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $32

Break-even live

Break-even rent $1,342

Max offer price $165,000

Occupancy floor 93%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2114 High St South Bend, IN	3.0	1.0	949	$1,300	$1.37	43d	1	0.08mi
821 E Fairview Ave South Bend, IN	3.0	1.0	1248	$1,399	$1.12	43d	1	0.18mi
909 E Fairview Ave South Bend, IN	3.0	1.0	1128	$1,450	$1.29	43d	1	0.19mi
1912 Miami St Unit 1912 South Bend, IN	3.0	1.5	1300	$1,400	$1.08	43d	1	0.32mi
525 E Eckman St South Bend, IN	3.0	1.0	1400	$1,500	$1.07	43d	1	0.38mi
237 E Victoria St South Bend, IN	3.0	1.0	840	$995	$1.18	43d	1	0.40mi
214 Altgeld St South Bend, IN	2.0	1.0	950	$1,200	$1.26	21d	1	0.44mi
202 E Calvert St South Bend, IN	2.0	1.0	1000	$999	$1.00	21d	1	0.50mi
405 E Woodside St South Bend, IN	3.0	1.0	1440	$1,425	$0.99	21d	1	0.53mi
317 E Indiana Ave South Bend, IN	3.0	1.0	1344	$1,200	$0.89	21d	1	0.60mi
1149 E Indiana Ave South Bend, IN	4.0	2.0	1344	$1,200	$0.89	13d	1	0.62mi
1126 E Broadway St South Bend, IN	4.0	2.0	1492	$1,365	$0.91	21d	1	0.68mi
922 Ridgedale Rd South Bend, IN	2.0	1.0	864	$1,200	$1.39	13d	1	0.72mi
1701 E Donald St South Bend, IN	2.0	1.0	720	$1,075	$1.49	43d	1	0.89mi
1007 E Chippewa Ave South Bend, IN	3.0	1.0	1344	$1,399	$1.04	43d	1	0.90mi
1729 E Calvert St South Bend, IN	3.0	1.0	900	$1,300	$1.44	43d	1	0.97mi
2102 S Scott St South Bend, IN	3.0	1.0	768	$1,250	$1.63	43d	1	1.01mi
1920 S Scott St South Bend, IN	2.0	1.0	816	$1,000	$1.23	13d	1	1.02mi
416 E Chippewa Ave South Bend, IN	4.0	2.0	1440	$1,900	$1.32	43d	1	1.18mi
2002 Catalpa Ave South Bend, IN	3.0	1.0	1424	$1,250	$0.88	21d	1	1.20mi
4005 Addison St South Bend, IN	3.0	1.0	900	$1,250	$1.39	43d	1	1.24mi
2804 Delaware St Mishawaka, IN	2.0	1.0	720	$1,200	$1.67	13d	1	1.26mi
1106 S 20th St South Bend, IN	1.0–3.0	1.0–2.0	885	$1,200	$1.36	13d	1	1.40mi

Listing history 7 events

1. 2026-05-07
   status Pending
2. 2026-05-07
   historical
3. 2026-04-29
   status Pending
4. 2026-04-21
   status Active Under Contract
5. 2026-03-13
   historical Active Under Contract
6. 2026-01-21
   listed $165,000 Active
7. 2008-02-11
   soldstatus $28,000

ⓘ 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: $1,514 · $126/mo
• Projected year-2 tax: $1,514 · $126/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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $16,589
• − Mortgage interest: −$9,243
• − Property taxes: −$1,514
• − Insurance: −$825
• − Repairs & maintenance: −$1,327
• − Management: −$1,327
• − Depreciation: −$4,800
• Taxable loss: −$2,447
• Est. tax savings @ 24.0%: +$587
• After-tax cash flow: $970/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

+489.3% since first listed

7 events — show timeline

• 2026-05-07 Pending — IRMLS
• 2026-05-07 Delisted — IRMLS
• 2026-04-29 Pending — IRMLS
• 2026-04-21 Relisted — IRMLS
• 2026-03-13 Contingent — IRMLS
• 2026-01-21 Listed $165,000 IRMLS
• 2008-02-11 Sold (Public Records) $28,000 Public Records

Property tax history

-7.0%/yr

Latest (2023): $1,514 · +11.1% YoY. Source: county tax records.