1320 Poland St · South Bend, IN 46619

$109,000

2 bd · 1.0 ba · 912 sqft · SingleFamily public records · 33 Days on market

Built 1893 5,184 sqft lot

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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 +25.7/30.0
• DSCR +8.5/10.0
• ARV discount +7.5/15.0
• 1% rule +6.3/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This home offers main level washer & drier, 2 spacious bedrooms, and has all the important items updated. Roof, Siding, windows, Mechanicals 4 years old. Seller is also offering $5,000 concessions to finish the attic space for an additional room. Come check out the home it is a great starter home that you can make your own.

Key facts

• Updated siding
• Attic space
• Updated windows

Tags

• MAIN LEVEL WASHER AND DRIER
• UPDATED ROOF
• UPDATED SIDING
• UPDATED WINDOWS
• UPDATED MECHANICALS
• ATTIC SPACE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $109k.

Deal economics

• At list price, monthly cash flow is $260 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $109k).
• Recommended offer: $106k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.2% 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, schools 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.
• Market conditions: 52 active listings in the ZIP; 22 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $754 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $6k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $80k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1893 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,730 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1893 — 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. 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: 1.13% ✓
• Cap rate: 9.15%
• Cash-on-cash: 10.21%
• DSCR: 1.45
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $71,136
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
425 Kosciuszko St	0.37mi	2/1.0	924 (+1%)	9mo	$45,000	$49	73
1530 Fisher St	0.22mi	3/1.0 (+1)	984 (+8%)	1mo	$105,000	$107	71
453 S Walnut St	0.22mi	3/1.0 (+1)	908 (-0%)	17mo	$42,000	$46	70
427 Kosciuszko St	0.36mi	3/1.0 (+1)	928 (+2%)	9mo	$60,000	$65	68
512 Pulaski St	0.34mi	2/1.0	960 (+5%)	16mo	$40,000	$42	62
811 Pulaski St	0.32mi	2/1.0	1,032 (+13%)	7mo	$52,525	$51	57
827 S Brookfield St	0.45mi	3/1.0 (+1)	1,000 (+10%)	2mo	$79,999	$80	56
1315 W Sample St	0.16mi	2/1.0	792 (-13%)	24mo	$72,000	$91	51
1117 W Indiana Ave	0.70mi	3/1.0 (+1)	912 (0%)	15mo	$28,500	$31	50
1402 W Washington St	0.60mi	3/1.5 (+1)	988 (+8%)	8mo	$95,000	$96	44
421 S Carlisle St	0.67mi	3/1.0 (+1)	1,023 (+12%)	0mo	$80,000	$78	43
1413 W Indiana Ave	0.69mi	3/1.0 (+1)	1,030 (+13%)	5mo	$115,500	$112	37

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: -1.0%
• Equity multiple: 0.96×
• Total profit: $-1,129
• Equity at exit: $16,252

10-year hold

• IRR: 8.7%
• Equity multiple: 1.66×
• Total profit: $20,289
• Equity at exit: $9,424

Cash invested: $30,520 (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: 52
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,232 high
• Mortgage (P&I): −$572
• Tax from tax record: −$96 /mo · $1,157/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $260

Break-even live

Break-even rent $903

Max offer price $109,000

Occupancy floor 74%

Sensitivity live

Price	-10% $321	-5% $291	+0% $260	+5% $229	+10% $198
Rent	-10% $162	-5% $211	+0% $260	+5% $308	+10% $357
Rate	-1.0pp $315	-0.5pp $287	base $260	+0.5pp $231	+1.0pp $203

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: $27,250
• Closing costs: $3,270
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1317 Poland St South Bend, IN	3.0	1.0	1100	$1,300	$1.18	21d	1	0.06mi
1909 Swygart Ave South Bend, IN	2.0	1.0	720	$1,100	$1.53	14d	1	0.92mi
1612 S Carlisle St South Bend, IN	2.0	1.0	672	$1,000	$1.49	44d	1	0.93mi
1928 S Walnut St South Bend, IN	2.0	1.0	700	$1,150	$1.64	44d	1	0.96mi
453 S Kaley St Unit 1 South Bend, IN	2.0	1.0	1100	$1,050	$0.95	44d	1	1.01mi
1920 S Scott St South Bend, IN	2.0	1.0	816	$1,000	$1.23	14d	1	1.08mi
211 W Washington St South Bend, IN	3.0	1.0–2.5	1162	$5,399	$4.64	21d	19	1.08mi
208 S Bendix Dr South Bend, IN	3.0	1.0	864	$1,150	$1.33	21d	1	1.12mi
2102 S Scott St South Bend, IN	3.0	1.0	768	$1,250	$1.63	44d	1	1.16mi
2417 Linden Ave South Bend, IN	2.0	1.0	1000	$1,200	$1.20	44d	1	1.19mi
533 Columbia St Unit C South Bend, IN	1.0	1.0	600	$700	$1.17	21d	1	1.20mi
736 Lawndale Ave Unit 1 South Bend, IN	3.0	1.0	1072	$1,200	$1.12	14d	1	1.25mi
3220 Vermont Pl South Bend, IN	2.0	1.0	725	$1,100	$1.52	14d	1	1.32mi
604 E South St South Bend, IN	1.0	1.0	750	$825	$1.10	44d	1	1.35mi
717 Huey St South Bend, IN	2.0	1.0	672	$1,050	$1.56	44d	1	1.36mi
125 W Marion St South Bend, IN	2.0	1.0	672	$1,350	$2.01	14d	5	1.39mi
307 E Lasalle Ave South Bend, IN	1.0–2.0	1.0–2.0	925	$1,670	$1.80	14d	22	1.39mi
729 N Elmer St South Bend, IN	2.0	1.0	672	$1,100	$1.64	14d	1	1.39mi
910 Allen St South Bend, IN	3.0	1.0	1100	$1,350	$1.23	21d	1	1.41mi
300 E Lasalle Ave South Bend, IN	3.0	1.0–3.0	1013	$2,409	$2.38	14d	31	1.41mi
202 E Calvert St South Bend, IN	2.0	1.0	1000	$999	$1.00	21d	1	1.41mi
421 S Lake St South Bend, IN	2.0	1.0	900	$1,200	$1.33	44d	1	1.44mi

Listing history 20 events

1. 2026-06-18
   days on market $109,000 Active 33 DOM
2. 2026-06-17
   days on market $109,000 Active 32 DOM
3. 2026-06-16
   days on market $109,000 Active 31 DOM
4. 2026-06-15
   days on market $109,000 Active 30 DOM
5. 2026-06-14
   days on market $109,000 Active 28 DOM
6. 2026-06-13
   days on market $109,000 Active 27 DOM
7. 2026-06-10
   days on market $109,000 Active 25 DOM
8. 2026-06-09
   days on market $109,000 Active 24 DOM
9. 2026-06-08
   days on market $109,000 Active 23 DOM
10. 2026-06-07
    remarks 578-char remark
11. 2026-06-07
    pricedays on market $109,000 Active 22 DOM
12. 2026-06-03
    days on market $115,000 Active 18 DOM
13. 2026-06-02
    days on market $115,000 Active 17 DOM
14. 2026-06-01
    days on market $115,000 Active 16 DOM
15. 2026-05-31
    days on market $115,000 Active 15 DOM
16. 2026-05-30
    days on market $115,000 Active 14 DOM
17. 2026-05-16
    listed $115,000 Active 331-char remark

    Show marketing remark (331 chars)

    This home offers main level washer & drier, 2 spacious bedrooms, and has all the important items updated. Roof, Siding, windows, Mechanicals 4 years old. Seller is also offering $5,000 concessions to finish the attic space for an additional room. Come check out the home it is a great starter home that you can make your own.

18. 2026-03-12
    price $115,000
19. 2026-02-19
    listed $130,000 Active
20. 2022-08-02
    soldstatus $80,000 Closed

ⓘ 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: $1,157 · $96/mo
• Projected year-2 tax: $1,157 · $96/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 3/10 Moderate FEMA zone X (unshaded) · 20% 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 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,781
• − Mortgage interest: −$6,106
• − Property taxes: −$1,157
• − Insurance: −$545
• − Repairs & maintenance: −$1,182
• − Management: −$1,182
• − Depreciation: −$3,171
• Taxable income: $1,438
• Est. tax owed @ 24.0%: −$345
• After-tax cash flow: $2,771/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

+43.8% since first listed

4 events — show timeline

• 2026-05-16 Listed $115,000 IRMLS
• 2026-03-12 Price Changed $115,000 IRMLS
• 2026-02-19 Listed $130,000 IRMLS
• 2022-08-02 Sold (MLS) $80,000 IRMLS

Property tax history

+3.5%/yr

Latest (2023): $1,157 · +204.6% YoY. Source: county tax records.