744 Portage Ave · South Bend, IN 46616

$144,900

2 bd · 1.0 ba · 1,717 sqft · SingleFamily public records · 75 Days on market

Built 1919 2,190 sqft lot $84/sqft · 27% below area Est $199k · 27% 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 +15.0/15.0
• DSCR +5.5/10.0
• 1% rule +4.2/10.0
• 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

MOTIVATED SELLER - GREAT INVESTOR PROPERTY. This 3-bedroom, 2-bath two-story home is ready for its next chapter and full of opportunity for the right buyer. With high ceilings, abundant natural light, and original hardwood flooring throughout the main level, the character here is undeniable. Front porch offers the perfect space to relax and unwind and property complete with privacy fence. Front porch window replaced since pictures. Whether you’re an investor or a buyer looking to bring your vision to life, this home is priced to sell and ready to become something truly special.

Key facts

• Privacy fence
• High ceilings
• Enclosed front porch

Tags

• HIGH CEILINGS
• ORIGINAL HARDWOOD FLOORING
• REFINISHED CLAWFOOT TUB
• ENCLOSED FRONT PORCH
• PRIVACY FENCE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $116 ($1k/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 $134k (7.6% below list).
• Recommended offer: $134k (7.6% below list) — sets the bar for 1% rule.
• 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: Madison S.T.E.A.M. Academy (math 2% / reading 2%, grade F, #994 of 994 statewide, top 100%, 618 students, 93% FRL); Lasalle Academy (math 23% / reading 53%, grade F, #136 of 330 statewide, top 44%, 488 students, 56% FRL); Adams High School (math 28% / reading 57%, grade F, #195 of 369 statewide, top 53%, 1,976 students, 56% FRL) — zoned schools at 68% FRL track the district average.
• Market conditions: Rents rising fast (+6.5%/yr); 42 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 75 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 8y ago; this cycle's ask has dropped $20k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $52k; list at $145k implies a 181% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $133,856 (7.6% below list)

Questions for the listing agent

1. It's been on market 75 days. Have you received any prior offers? Is the seller open to a 8% concession, seller financing, or rate buy-down credit?
2. Built in 1919 — 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. 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: 0.92% ✗
• Cap rate: 7.26%
• Cash-on-cash: 3.44%
• DSCR: 1.15
• GRM: 9.0

CMA / ARV

• ARV (median comp): $199,299
• List price: $144,900
• Delta: -27.30%
• 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
1040 Woodward Ave	0.24mi	3/2.0 (+1)	1,656 (-4%)	4mo	$185,000	$112	71
506 W Angela Blvd	0.54mi	3/1.5 (+1)	1,728 (+1%)	3mo	$264,195	$153	64
1202 Cleveland Ave	0.60mi	2/1.0	1,800 (+5%)	1mo	$136,000	$76	63
501 W Angela Blvd	0.57mi	3/1.5 (+1)	1,692 (-2%)	2mo	$151,000	$89	62
744 Blaine Ave	0.40mi	3/1.0 (+1)	1,566 (-9%)	1mo	$152,000	$97	60
322 Studebaker St	0.74mi	2/1.5	1,764 (+3%)	5mo	$106,250	$60	55
210 Wakewa Ave	0.45mi	3/1.0 (+1)	1,530 (-11%)	2mo	$300,000	$196	54
319 W Madison St	0.42mi	3/1.0 (+1)	1,512 (-12%)	2mo	$84,900	$56	54
525 W Angela Blvd	0.56mi	3/1.0 (+1)	1,578 (-8%)	2mo	$250,000	$158	54
1219 Leeper Ave	0.64mi	3/1.5 (+1)	1,847 (+8%)	0mo	$385,000	$208	50
807 Diamond Ave	0.56mi	3/1.5 (+1)	1,920 (+12%)	2mo	$70,000	$36	45
320 Howard St	0.70mi	3/2.5 (+1)	1,512 (-12%)	4mo	$549,900	$364	33

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 · 6.49% rent growth · sell at horizon

5-year hold

• IRR: -7.2%
• Equity multiple: 0.72×
• Total profit: $-11,217
• Equity at exit: $21,605

10-year hold

• IRR: 6.1%
• Equity multiple: 1.52×
• Total profit: $21,162
• Equity at exit: $12,528

Cash invested: $40,572 (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 46616

• Home prices YoY: -17.9%
• Rents YoY: 6.5%
• Active inventory: 42
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,339 high
• Mortgage (P&I): −$760
• Tax from tax record: −$121 /mo · $1,449/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $116

Break-even live

Break-even rent $1,191

Max offer price $144,900

Occupancy floor 86%

Sensitivity live

Price	-10% $198	-5% $157	+0% $116	+5% $75	+10% $34
Rent	-10% $11	-5% $64	+0% $116	+5% $169	+10% $222
Rate	-1.0pp $189	-0.5pp $153	base $116	+0.5pp $79	+1.0pp $41

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
504 W Navarre St South Bend, IN	3.0	1.5	1520	$1,350	$0.89	15d	1	0.26mi
910 Allen St South Bend, IN	3.0	1.0	1100	$1,350	$1.23	22d	1	0.37mi
1118 Van Buren St South Bend, IN	3.0	1.0	1394	$1,375	$0.99	22d	1	0.41mi
1032 Allen St South Bend, IN	3.0	2.0	1580	$1,200	$0.76	45d	1	0.42mi
752 Diamond Ave South Bend, IN	3.0	1.5	1248	$1,400	$1.12	45d	1	0.55mi
1243 Portage Ave South Bend, IN	3.0	1.0	1570	$1,500	$0.96	45d	1	0.58mi
736 Lawndale Ave Unit 1 South Bend, IN	3.0	1.0	1072	$1,200	$1.12	15d	1	0.62mi
122 E Pokagon St South Bend, IN	2.0	1.0	1200	$1,500	$1.25	15d	1	0.71mi
211 W Washington St South Bend, IN	3.0	1.0–2.5	1162	$5,399	$4.64	22d	19	0.73mi
307 E Lasalle Ave South Bend, IN	1.0–2.0	1.0–2.0	925	$1,670	$1.80	15d	22	0.74mi
300 E Lasalle Ave South Bend, IN	3.0	1.0–3.0	1013	$2,409	$2.38	15d	31	0.78mi
221 S Taylor St South Bend, IN	3.0	2.0	1178	$2,599	$2.21	15d	1	0.83mi
1214 Queen St South Bend, IN	3.0	1.0	1056	$1,300	$1.23	15d	1	0.84mi
2010 Lincoln Way W Unit 2 South Bend, IN	3.0	1.0	1150	$1,325	$1.15	22d	1	1.05mi
1505 N Adams St South Bend, IN	3.0	1.0	1200	$1,350	$1.12	15d	1	1.06mi
1206 Johnson St South Bend, IN	3.0	1.5	1320	$1,400	$1.06	45d	1	1.08mi
1210 Johnson St South Bend, IN	3.0	2.0	1568	$1,250	$0.80	22d	1	1.08mi
1008 O Brien St Unit O South Bend, IN	3.0	1.0	1634	$800	$0.49	22d	1	1.08mi
1046 N Elmer St South Bend, IN	2.0	1.0	1050	$1,025	$0.98	22d	1	1.22mi
2203 Smith St South Bend, IN	3.0	1.0	1248	$1,215	$0.97	15d	1	1.23mi
1145 N Eddy St South Bend, IN	3.0	1.0–3.0	959	$3,387	$3.53	45d	1	1.24mi
116 N Notre Dame Ave South Bend, IN	3.0	1.5	1524	$1,295	$0.85	15d	1	1.24mi
1018 S Bend Ave South Bend, IN	2.0	1.0–2.0	836	$2,950	$3.53	15d	27	1.27mi
1642 Johnson St South Bend, IN	3.0	1.0	1375	$1,400	$1.02	15d	1	1.27mi
1630 Obrien St South Bend, IN	3.0	1.0	1120	$1,400	$1.25	15d	1	1.31mi
1317 Poland St South Bend, IN	3.0	1.0	1100	$1,300	$1.18	22d	1	1.37mi

Listing history 21 events

1. 2026-06-18
   days on market $144,900 Active 75 DOM
2. 2026-06-17
   days on market $144,900 Active 74 DOM
3. 2026-06-16
   days on market $144,900 Active 73 DOM
4. 2026-06-15
   days on market $144,900 Active 72 DOM
5. 2026-06-14
   days on market $144,900 Active 70 DOM
6. 2026-06-13
   days on market $144,900 Active 69 DOM
7. 2026-06-10
   pricedays on market $144,900 Active 67 DOM
8. 2026-06-09
   days on market $149,000 Active 66 DOM
9. 2026-06-08
   days on market $149,000 Active 65 DOM
10. 2026-06-07
    days on market $149,000 Active 64 DOM
11. 2026-06-03
    days on market $149,000 Active 60 DOM
12. 2026-06-02
    days on market $149,000 Active 59 DOM
13. 2026-06-01
    days on market $149,000 Active 58 DOM
14. 2026-05-31
    days on market $149,000 Active 57 DOM
15. 2026-05-30
    days on market $149,000 Active 56 DOM
16. 2026-04-28
    price $149,000 590-char remark

    Show marketing remark (590 chars)

    MOTIVATED SELLER - GREAT INVESTOR PROPERTY. This 3-bedroom, 2-bath two-story home is ready for its next chapter and full of opportunity for the right buyer. With high ceilings, abundant natural light, and original hardwood flooring throughout the main level, the character here is undeniable. Front porch offers the perfect space to relax and unwind and property complete with privacy fence. Front porch window replaced since pictures. Whether you’re an investor or a buyer looking to bring your vision to life, this home is priced to sell and ready to become something truly special.

17. 2026-04-16
    price $152,000 590-char remark

    Show marketing remark (590 chars)

    MOTIVATED SELLER - GREAT INVESTOR PROPERTY. This 3-bedroom, 2-bath two-story home is ready for its next chapter and full of opportunity for the right buyer. With high ceilings, abundant natural light, and original hardwood flooring throughout the main level, the character here is undeniable. Front porch offers the perfect space to relax and unwind and property complete with privacy fence. Front porch window replaced since pictures. Whether you’re an investor or a buyer looking to bring your vision to life, this home is priced to sell and ready to become something truly special.

18. 2026-04-11
    price $157,000 590-char remark

    Show marketing remark (590 chars)

    MOTIVATED SELLER - GREAT INVESTOR PROPERTY. This 3-bedroom, 2-bath two-story home is ready for its next chapter and full of opportunity for the right buyer. With high ceilings, abundant natural light, and original hardwood flooring throughout the main level, the character here is undeniable. Front porch offers the perfect space to relax and unwind and property complete with privacy fence. Front porch window replaced since pictures. Whether you’re an investor or a buyer looking to bring your vision to life, this home is priced to sell and ready to become something truly special.

19. 2026-04-04
    listed $165,000 Active 590-char remark

    Show marketing remark (590 chars)

    MOTIVATED SELLER - GREAT INVESTOR PROPERTY. This 3-bedroom, 2-bath two-story home is ready for its next chapter and full of opportunity for the right buyer. With high ceilings, abundant natural light, and original hardwood flooring throughout the main level, the character here is undeniable. Front porch offers the perfect space to relax and unwind and property complete with privacy fence. Front porch window replaced since pictures. Whether you’re an investor or a buyer looking to bring your vision to life, this home is priced to sell and ready to become something truly special.

20. 2018-09-19
    soldstatus $51,600 708-char remark

    Show marketing remark (708 chars)

    "Clean", "Updated", "Peaceful", "Warm" and "Inviting" are the words to describe this house! 3 bed, 2 bath home with refinished hardwood floors, brand new carpet, new tiled bathroom floor, freshly painted interior and exterior, brand new kitchen with granite countertop and new stainless steel gas stove, new lighting, new bathroom vanity, new fence along north side of the property, and a new water heater! Upstairs bathroom features the recently refinished original clawfoot tub. Front porch is enclosed and provides a great place to sit and enjoy the evening. For how nice this house is. .. This baby is priced to sell! Don't wait to schedule your showing!

21. 2018-03-18
    listed $52,900 708-char remark

    Show marketing remark (708 chars)

    "Clean", "Updated", "Peaceful", "Warm" and "Inviting" are the words to describe this house! 3 bed, 2 bath home with refinished hardwood floors, brand new carpet, new tiled bathroom floor, freshly painted interior and exterior, brand new kitchen with granite countertop and new stainless steel gas stove, new lighting, new bathroom vanity, new fence along north side of the property, and a new water heater! Upstairs bathroom features the recently refinished original clawfoot tub. Front porch is enclosed and provides a great place to sit and enjoy the evening. For how nice this house is. .. This baby is priced to sell! Don't wait to schedule your showing!

ⓘ 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: $1,449 · $121/mo
• Projected year-2 tax: $1,449 · $121/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: $16,063
• − Mortgage interest: −$8,117
• − Property taxes: −$1,449
• − Insurance: −$724
• − Repairs & maintenance: −$1,285
• − Management: −$1,285
• − Depreciation: −$4,215
• Taxable loss: −$1,013
• Est. tax savings @ 24.0%: +$243
• After-tax cash flow: $1,640/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): 5,979
• Household income: $58,537
• Rent vs Own: 42.6% rent · 57.4% own
• Severe rent burden: 339.0

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 0.59)
• Race & ethnicity: White 59% Black 21% Hispanic / Latino 16% Two or more races 14% Asian 1%
• Hispanic origin (detail): Mexican 9% Puerto Rican 2%
• Common ancestry: Romanian 7% Portuguese 2% Slovak 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 90% English-only · Spanish 7% 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: ▼ -51.53%
• Current HPI: 237.0154
• Rent YoY: ▲ 6.49%
• 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

+181.7% since first listed

6 events — show timeline

• 2026-04-28 Price Changed $149,000 IRMLS
• 2026-04-16 Price Changed $152,000 IRMLS
• 2026-04-11 Price Changed $157,000 IRMLS
• 2026-04-04 Listed $165,000 IRMLS
• 2018-09-19 Sold (MLS) $51,600 IRMLS
• 2018-03-18 Listed $52,900 IRMLS

Property tax history

-7.6%/yr

Latest (2023): $1,449 · -0.7% YoY. Source: county tax records.