2107 Maplehurst Ave · Mishawaka, IN 46545

$229,900

3 bd · 2.0 ba · 1,368 sqft · SingleFamily public records · 3 Days on market

Built 1959 0.39 ac lot Est $230k · at est.

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Why this score? — see what drove the D 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 +13.6/30.0
• ARV discount +7.5/15.0
• DSCR +4.1/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome home to this nice Mishawaka ranch that proudly sits on a large lot and is conveniently located near many options for shopping, restaurants, parks and schools! Features include 3 bedrooms and 2 full bathrooms. The master bedroom is huge measuring 10' x 24', and includes a brand new attached master bathroom completed in December 2025. Two additions were added in the late 1970's adding additional square footage to the master bedroom and kitchen which included a new partial block basement. New Andersen windows were installed in 1986. New central air in 1997. An overlay was added to the roof in 2025. New water heater in 2026. Main level washer and dryer. Large attached screened porch at

Key facts

• Large lot
• Andersen windows
• Central air

Tags

• LARGE LOT
• ATTACHED MASTER BATHROOM
• PARTIAL BLOCK BASEMENT
• ANDERSEN WINDOWS
• CENTRAL AIR
• LARGE ATTACHED SCREENED PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $230k.

Deal economics

• At list price, monthly cash flow is $14 ($169/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 $179k (21.9% below list).
• Recommended offer: $179k (21.9% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 5.2% in Mishawaka — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

Location & tenants

• Location reads 76/100 on livability (#53 in IN, #3,586 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety B; Watch: amenities F, employment F.
• School City Of Mishawaka (urban): math 23% / reading 30% proficiency, ranked #260 of 301 in IN (top 86%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Liberty Elementary School (math 23% / reading 22%, grade F, #788 of 994 statewide, top 79%, 417 students, 80% FRL); John J Young Middle School (math 17% / reading 30%, grade F, #257 of 330 statewide, top 79%, 735 students, 74% FRL); Mishawaka High School (math 24% / reading 60%, grade F, #197 of 369 statewide, top 57%, 1,488 students, 65% FRL) — zoned schools average 73% FRL vs 54% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+5.2%/yr); 77 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 38% of the median local income ($57k/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 $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1959 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $179,459 (21.9% below list)

Questions for the listing agent

1. Built in 1959 — 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. 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?
4. 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.
5. 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.
6. 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: 0.78% ✗
• Cap rate: 6.37%
• Cash-on-cash: 0.26%
• DSCR: 1.01
• GRM: 10.7

CMA / ARV

• ARV (on-the-fly): $229,824
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2107 Maplehurst Ave	0.00mi	3/2.0	1,368 (0%)	1mo	$229,900	$168	99
1816 Maplehurst Ave	0.16mi	3/2.0	1,473 (+8%)	1mo	$307,000	$208	79
1512 Carter Ct	0.42mi	3/1.5	1,356 (-1%)	5mo	$263,500	$194	73
1729 Carter Ct	0.30mi	3/1.5	1,308 (-4%)	11mo	$260,000	$199	68
1702 N Merrifield Ave	0.28mi	2/1.5 (-1)	1,434 (+5%)	6mo	$235,000	$164	67
424 Pregel Dr	0.62mi	2/2.0 (-1)	1,404 (+3%)	2mo	$264,900	$189	60
2327 Normandy Dr	0.74mi	3/2.0	1,394 (+2%)	8mo	$225,000	$161	56
409 E Lowell Ave	0.68mi	3/1.5	1,378 (+1%)	12mo	$187,500	$136	55
412 E La Salle Ave	0.63mi	3/1.0	1,268 (-7%)	3mo	$211,000	$166	52
2320 Normandy Dr	0.71mi	2/1.5 (-1)	1,323 (-3%)	11mo	$180,000	$136	45
1002 E Broadway St	0.67mi	3/2.0	1,172 (-14%)	2mo	$205,000	$175	43
1333 E Borley Ave	0.38mi	4/2.5 (+1)	1,573 (+15%)	10mo	$265,000	$168	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 · 5.2% rent growth · sell at horizon

5-year hold

• IRR: -13.8%
• Equity multiple: 0.50×
• Total profit: $-32,383
• Equity at exit: $34,279

10-year hold

• IRR: -2.1%
• Equity multiple: 0.85×
• Total profit: $-9,970
• Equity at exit: $19,878

Cash invested: $64,372 (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 46545

• Rents YoY: 5.2%
• Active inventory: 77
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $1,795 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$102 /mo · $1,227/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $14

Break-even live

Break-even rent $1,777

Max offer price $229,900

Occupancy floor 94%

Sensitivity live

Price	-10% $144	-5% $79	+0% $14	+5% $-51	+10% $-116
Rent	-10% $-128	-5% $-57	+0% $14	+5% $85	+10% $156
Rate	-1.0pp $130	-0.5pp $73	base $14	+0.5pp $-45	+1.0pp $-106

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: $57,475
• Closing costs: $6,897
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
209 E Edgar Ave Mishawaka, IN	3.0	1.0	1400	$1,400	$1.00	14d	1	0.83mi
117 Palau Ave Mishawaka, IN	3.0	1.0	1100	$1,650	$1.50	14d	1	1.00mi
302 Village Dr Mishawaka, IN	1.0–3.0	1.0–1.5	950	$2,043	$2.15	14d	33	1.05mi
303 Village Dr Mishawaka, IN	1.0–3.0	1.0–1.5	918	$1,975	$2.15	14d	25	1.08mi
232 E Grove St Mishawaka, IN	3.0	1.0	1188	$1,500	$1.26	14d	1	1.09mi
116 W Mishawaka Ave Mishawaka, IN	3.0	1.0–2.0	948	$2,321	$2.45	14d	31	1.28mi
300 Pin Oak Cir Mishawaka, IN	1.0–3.0	1.0–1.5	835	$1,225	$1.47	14d	1	1.49mi

Listing history 2 events

1. 2026-04-27
   status Pending
2. 2026-04-24
   listed $229,900 Active

ⓘ 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: $1,227 · $102/mo
• Projected year-2 tax: $1,590 · $133/mo
• Expected delta: +$364/yr (+$30/mo · 29.7%)

ⓘ 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 ≥100°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: $21,535
• − Mortgage interest: −$12,878
• − Property taxes: −$1,227
• − Insurance: −$1,150
• − Repairs & maintenance: −$1,723
• − Management: −$1,723
• − Depreciation: −$6,688
• Taxable loss: −$3,853
• Est. tax savings @ 24.0%: +$925
• After-tax cash flow: $1,094/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: School City Of Mishawaka
• NCES district ID: 1806840
• Math proficiency: 23% ▼ -9.00%
• Reading proficiency: 30% ▼ -7.00%
• Median HH income: $39,290
• Composite: 22.26/100
• National rank: #8143
• State rank: #260 of 301 in IN

Livability — Mishawaka

• Score: 76/100
• State rank: #53
• US rank: #3586

Category grades

Amenities F Commute C Cost of living A+ Crime C Employment F Housing A+ Health & safety B User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mishawaka, IN
• County: Saint Joseph County · 189,048 people
• City population: 57,683
• Metro: South Bend-Mishawaka, IN-MI
• Population (ZIP): 26,606
• Household income: $56,865
• Rent vs Own: 47.3% rent · 52.7% own
• Severe rent burden: 1243.0

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 (78%)
• Race & ethnicity: White 78% Two or more races 8% Black 7% Hispanic / Latino 6% Asian 3%
• Hispanic origin (detail): Mexican 2%
• Common ancestry: Romanian 6% Lithuanian 2% English 2%
• Foreign-born: 8% · Canada, China, South Korea
• Languages at home: 90% English-only · Spanish 4% Chinese 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: ▼ -114.83%
• Current HPI: 188.2811
• Rent YoY: ▲ 5.20%
• 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

2 events — show timeline

• 2026-04-27 Pending — IRMLS
• 2026-04-24 Listed $229,900 IRMLS

Property tax history

+18.7%/yr

Latest (2023): $1,227 · -14.4% YoY. Source: county tax records.