714 S 27th St · South Bend, IN 46615

$150,000

3 bd · 2.0 ba · 1,554 sqft · SingleFamily public records · 17 Days on market

Built 1928 5,227 sqft lot $97/sqft · 46% above area Est $169k · 11% under

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Why this score? — see what drove the C- 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 +17.7/30.0
• ARV discount +12.5/15.0
• 1% rule +6.5/10.0
• DSCR +5.5/10.0
• Rent growth +4.1/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

3 bed, 1 bath South Bend, IN home for sale. This property is in a residential neighborhood. The home is perfect for a handy man or investor. The home will require work and repairs before move in ready. There is a mobility ramp leading to the front door, for easy access. Could be a good investment fix n' flip.

Key facts

• 5,227 sq ft lot
• 2 garage spots
• Built 1928

Property features AI

Exterior

• Parking: Detached garage; Off-street parking; 2 garage spaces
• Security: Security system
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; 2 stories
• Construction: Aluminum siding
• Exterior features: Enclosed porch; Privacy fencing; Lot is sloped; Sidewalks in the community

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Gas oven
• Bedrooms: Master bedroom located on the main floor
• Bathrooms: 2 full bathrooms; 1 bathroom on the main level
• Heating & cooling: Natural gas heating; Central air conditioning; Has heating and cooling
• Interior features: Breakfast bar; Master suite on the main level; Window treatments; Finished basement; Basement fireplace
• Laundry & utility: Washer; Dryer; Laundry located on the lower level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $122 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $148k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.3% 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: Nuner Fine Arts Academy (math 8% / reading 12%, grade F, #921 of 994 statewide, top 94%, 479 students, 90% 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 70% FRL track the district average.
• Market conditions: Rents rising fast (+6.3%/yr); 73 active listings in the ZIP; 10 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).
• This rent runs 33% of the median local income ($63k/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 $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($148k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago; this cycle's ask has dropped $29k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $147,750 (1.5% below list)

Questions for the listing agent

1. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.15% ✓
• Cap rate: 7.27%
• Cash-on-cash: 3.48%
• DSCR: 1.15
• GRM: 7.3

CMA / ARV

• ARV (median comp): $168,915
• List price: $150,000
• Delta: -11.20%
• 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
1225 S 27th St	0.52mi	3/2.0	1,536 (-1%)	0mo	$149,500	$97	74
2512 Mishawaka Ave	0.26mi	3/2.0	1,427 (-8%)	1mo	$95,000	$67	73
742 S 26th St	0.09mi	3/1.0	1,744 (+12%)	1mo	$185,000	$106	71
1111 S 27th St	0.41mi	3/1.5	1,464 (-6%)	2mo	$155,000	$106	68
946 S 28th St	0.34mi	4/2.0 (+1)	1,680 (+8%)	1mo	$220,000	$131	65
833 S 34th St	0.47mi	3/2.0	1,404 (-10%)	0mo	$178,000	$127	62
1734 Southwood Ave	0.63mi	3/2.0	1,464 (-6%)	2mo	$240,000	$164	60
1113 S 23rd St	0.49mi	3/1.0	1,680 (+8%)	0mo	$185,000	$110	59
2605 Mishawaka St	0.21mi	3/1.0	1,785 (+15%)	4mo	$175,000	$98	58
205 N Middleboro Ave	0.71mi	3/1.0	1,588 (+2%)	4mo	$165,000	$104	56
1009 S 26 St	0.37mi	3/1.0	1,330 (-14%)	2mo	$199,900	$150	53
114 River Ave	0.72mi	4/1.0 (+1)	1,500 (-4%)	0mo	$200,000	$133	52

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 · 6.27% rent growth · sell at horizon

5-year hold

• IRR: -6.5%
• Equity multiple: 0.75×
• Total profit: $-10,556
• Equity at exit: $22,365

10-year hold

• IRR: 7.3%
• Equity multiple: 1.64×
• Total profit: $27,030
• Equity at exit: $12,969

Cash invested: $42,000 (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 46615

• Home prices YoY: -34.0%
• Rents YoY: 6.3%
• Active inventory: 73
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,718 high
• Mortgage (P&I): −$787
• Tax from tax record: −$386 /mo · $4,634/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$361
• Net cashflow: $122

Break-even live

Break-even rent $1,564

Max offer price $150,000

Occupancy floor 88%

Sensitivity live

Price	-10% $207	-5% $164	+0% $122	+5% $79	+10% $37
Rent	-10% $-14	-5% $54	+0% $122	+5% $190	+10% $258
Rate	-1.0pp $197	-0.5pp $160	base $122	+0.5pp $83	+1.0pp $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: $37,500
• Closing costs: $4,500
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
819 S 24th St South Bend, IN	3.0	2.0	1480	$1,795	$1.21	45d	1	0.26mi
3001 E Jefferson Blvd South Bend, IN	1.0–2.0	1.0–2.0	848	$1,329	$1.57	14d	21	0.53mi
931 S 34th St South Bend, IN	3.0	1.5	1656	$1,550	$0.94	45d	1	0.53mi
1106 S 20th St South Bend, IN	1.0–3.0	1.0–2.0	885	$1,200	$1.36	14d	1	0.59mi
211 Columbia St Mishawaka, IN	4.0	2.5	1500	$1,795	$1.20	22d	1	0.97mi
365 W Front St Mishawaka, IN	2.0	1.0–2.0	825	$3,050	$3.70	14d	1	1.35mi
724 Northwood Dr South Bend, IN	4.0	2.0	1594	$2,600	$1.63	45d	1	1.37mi
116 W Mishawaka Ave Mishawaka, IN	3.0	1.0–2.0	948	$2,321	$2.45	14d	31	1.38mi
1126 E Broadway St South Bend, IN	4.0	2.0	1492	$1,365	$0.91	22d	1	1.43mi
1149 E Indiana Ave South Bend, IN	4.0	2.0	1344	$1,200	$0.89	14d	1	1.43mi

Listing history 15 events

1. 2026-06-09
   status $150,000 Pending 17 DOM
2. 2026-06-08
   days on market $150,000 Active Under Contract 17 DOM
3. 2026-06-07
   days on market $150,000 Active Under Contract 16 DOM
4. 2026-06-03
   days on market $150,000 Active Under Contract 12 DOM
5. 2026-06-03
   status $150,000 Active Under Contract 11 DOM
6. 2026-06-02
   days on market $150,000 Active 11 DOM
7. 2026-06-01
   days on market $150,000 Active 10 DOM
8. 2026-05-31
   days on market $150,000 Active 9 DOM
9. 2026-05-30
   days on market $150,000 Active 8 DOM
10. 2026-05-12
    status Pending 775-char remark
11. 2026-05-07
    listed $179,000 Active 775-char remark
12. 2025-12-09
    historical $1,500
13. 2025-12-03
    listed $1,500
14. 2017-12-12
    soldstatus $18,000 310-char remark

    Show marketing remark (310 chars)

    3 bed, 1 bath South Bend, IN home for sale. This property is in a residential neighborhood. The home is perfect for a handy man or investor. The home will require work and repairs before move in ready. There is a mobility ramp leading to the front door, for easy access. Could be a good investment fix n' flip.

15. 2017-11-20
    listed $16,900 310-char remark

    Show marketing remark (310 chars)

    3 bed, 1 bath South Bend, IN home for sale. This property is in a residential neighborhood. The home is perfect for a handy man or investor. The home will require work and repairs before move in ready. There is a mobility ramp leading to the front door, for easy access. Could be a good investment fix n' flip.

ⓘ 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: $4,634 · $386/mo
• Projected year-2 tax: $4,634 · $386/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 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $20,616
• − Mortgage interest: −$8,402
• − Property taxes: −$4,634
• − Insurance: −$750
• − Repairs & maintenance: −$1,649
• − Management: −$1,649
• − Depreciation: −$4,364
• Taxable loss: −$833
• Est. tax savings @ 24.0%: +$200
• After-tax cash flow: $1,663/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): 14,190
• Household income: $62,964
• Rent vs Own: 36.9% rent · 63.1% own
• Severe rent burden: 420.0

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: Predominantly White (65%)
• Race & ethnicity: White 65% Black 14% Two or more races 11% Hispanic / Latino 10% Asian 3%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 6% Italian 2% Serbian 2%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 87% English-only · Spanish 7% Tagalog/Filipino 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: ▼ -124.82%
• Current HPI: 242.1938
• Rent YoY: ▲ 6.27%
• 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

+758.0% since first listed

11 events — show timeline

• 2026-06-12 Sold (MLS) $145,000 IRMLS
• 2026-06-08 Pending — IRMLS
• 2026-06-02 Contingent — IRMLS
• 2026-05-26 Relisted — IRMLS
• 2026-05-26 Price Changed $150,000 IRMLS
• 2026-05-12 Pending — IRMLS
• 2026-05-07 Listed $179,000 IRMLS
• 2025-12-09 Rental Removed $1,500 IRMLS
• 2025-12-03 Listed for Rent $1,500 IRMLS
• 2017-12-12 Sold (MLS) $18,000 IRMLS
• 2017-11-20 Listed $16,900 IRMLS

Property tax history

+28.4%/yr

Latest (2025): $4,634 · +116.0% YoY. Source: county tax records.