1738 N Brookfield St · South Bend, IN 46628

$75,000

3 bd · 1.0 ba · 1,080 sqft · SingleFamily public records · 76 Days on market

Built 1957 5,863 sqft lot $69/sqft · 18% below area Est $92k · 18% under

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.2/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * Unapproved Short Sale * * Check out this 3-bedroom home with great potential! Whether you’re an investor looking for your next opportunity or a first-time homebuyer ready to make it your own, this property offers plenty of possibilities. This property will be sold As-Is, Where Is. Multiple offers received

Key facts

• 5,863 sq ft lot
• Built 1957
• Listed 76 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $536 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.
• Cap rate 14.9% 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: Rents rising fast (+6.8%/yr); 424 active listings in the ZIP; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $519 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.8% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 5y ago; this cycle's ask is 3% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,500 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1957 — 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: 1.79% ✓
• Cap rate: 14.86%
• Cash-on-cash: 30.61%
• DSCR: 2.36
• GRM: 4.7

CMA / ARV

• ARV (median comp): $91,821
• List price: $75,000
• Delta: -18.32%
• 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
1734 N Elmer St	0.25mi	3/1.0	1,148 (+6%)	1mo	$178,000	$155	77
1233 Wilber St	0.50mi	3/1.0	1,079 (-0%)	0mo	$67,490	$63	76
1310 N Brookfield St	0.44mi	3/1.0	1,092 (+1%)	2mo	$140,000	$128	76
1414 Wilber St	0.35mi	3/1.0	1,020 (-6%)	0mo	$118,000	$116	74
1749 N Fremont St	0.40mi	3/2.0	1,120 (+4%)	2mo	$155,000	$138	70
1958 Beverly Pl	0.40mi	2/1.0 (-1)	1,120 (+4%)	1mo	$130,000	$116	70
2237 Hollywood Place St	0.68mi	3/1.0	1,064 (-2%)	2mo	$145,000	$136	64
933 Beale St	0.71mi	3/1.0	1,008 (-7%)	1mo	$129,000	$128	55
1122 Fremont St	0.71mi	3/1.0	1,008 (-7%)	2mo	$120,000	$119	54
1119 College St	0.60mi	3/1.0	960 (-11%)	3mo	$121,000	$126	51
1026 W Rose St	0.62mi	2/2.0 (-1)	1,008 (-7%)	3mo	$93,000	$92	48
1006 W Rose St	0.66mi	3/2.0	1,214 (+12%)	1mo	$195,000	$161	44

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 · 6.78% rent growth · sell at horizon

5-year hold

• IRR: 29.6%
• Equity multiple: 2.30×
• Total profit: $27,282
• Equity at exit: $11,183

10-year hold

• IRR: 39.0%
• Equity multiple: 5.35×
• Total profit: $91,260
• Equity at exit: $6,485

Cash invested: $21,000 (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 46628

• Rents YoY: 6.8%
• Active inventory: 424
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,341 high
• Mortgage (P&I): −$393
• Tax from tax record: −$99 /mo · $1,185/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $536

Break-even live

Break-even rent $662

Max offer price $75,000

Occupancy floor 55%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1710 Johnson St South Bend, IN	3.0	1.0	1000	$1,350	$1.35	43d	1	0.09mi
1642 Johnson St South Bend, IN	3.0	1.0	1375	$1,400	$1.02	13d	1	0.15mi
1630 Obrien St South Bend, IN	3.0	1.0	1120	$1,400	$1.25	13d	1	0.19mi
1709 Huey St South Bend, IN	2.0	1.0	720	$995	$1.38	20d	1	0.21mi
1918 Johnson St South Bend, IN	3.0	1.0	1200	$1,200	$1.00	13d	1	0.22mi
1505 N Adams St South Bend, IN	3.0	1.0	1200	$1,350	$1.12	13d	1	0.31mi
1505 Huey St South Bend, IN	3.0	1.0	864	$1,425	$1.65	20d	1	0.34mi
2013 Elwood Ave South Bend, IN	3.0	1.0	720	$999	$1.39	43d	1	0.35mi
1614 Fremont St South Bend, IN	2.0	1.0	720	$850	$1.18	20d	1	0.40mi
1308 Kinyon St South Bend, IN	2.0	1.0	700	$1,100	$1.57	43d	1	0.45mi
1314 Johnson St South Bend, IN	2.0	1.0	902	$1,150	$1.27	13d	1	0.46mi
1237 Wilber St South Bend, IN	2.0	1.0	880	$1,200	$1.36	43d	1	0.52mi
1214 Queen St South Bend, IN	3.0	1.0	1056	$1,300	$1.23	13d	1	0.55mi
1206 Johnson St South Bend, IN	3.0	1.5	1320	$1,400	$1.06	43d	1	0.55mi
1428 Kessler Blvd South Bend, IN	3.0	1.0	936	$1,000	$1.07	43d	1	0.61mi
1033 Beale St South Bend, IN	3.0	1.0	840	$1,250	$1.49	20d	1	0.62mi
1054 Huey St South Bend, IN	4.0	2.0	1288	$1,550	$1.20	13d	1	0.70mi
1141 Fremont St South Bend, IN	3.0	1.0	760	$1,100	$1.45	20d	1	0.71mi
937 Roosevelt St South Bend, IN	2.0	1.0	720	$1,060	$1.47	43d	1	0.72mi
1046 N Elmer St South Bend, IN	2.0	1.0	1050	$1,025	$0.98	20d	1	0.72mi
929 Beale St South Bend, IN	2.0	1.0	720	$975	$1.35	43d	1	0.74mi
2823 Calhoun St South Bend, IN	2.0	1.0	720	$1,249	$1.73	43d	1	0.75mi
2205 Lincoln Way W South Bend, IN	4.0	2.0	1440	$1,565	$1.09	13d	1	0.79mi
2010 Lincoln Way W Unit 2 South Bend, IN	3.0	1.0	1150	$1,325	$1.15	20d	1	0.85mi
1201 Woodward Ave South Bend, IN	2.0	1.0	960	$1,675	$1.74	43d	1	0.88mi
2527 Riverside Dr South Bend, IN	3.0	1.5	1048	$1,595	$1.52	20d	1	0.93mi
752 Diamond Ave South Bend, IN	3.0	1.5	1248	$1,400	$1.12	43d	1	1.01mi
910 Allen St South Bend, IN	3.0	1.0	1100	$1,350	$1.23	20d	1	1.02mi
736 Lawndale Ave Unit 1 South Bend, IN	3.0	1.0	1072	$1,200	$1.12	13d	1	1.03mi
1118 Van Buren St South Bend, IN	3.0	1.0	1394	$1,375	$0.99	20d	1	1.07mi
344 Parkovash Ave South Bend, IN	3.0	1.0	950	$1,900	$2.00	13d	1	1.26mi
2203 Smith St South Bend, IN	3.0	1.0	1248	$1,215	$0.97	13d	1	1.32mi
2417 Linden Ave South Bend, IN	2.0	1.0	1000	$1,200	$1.20	43d	1	1.35mi

Listing history 27 events

1. 2026-06-18
   status $75,000 Pending 76 DOM
2. 2026-06-17
   days on market $75,000 Active Under Contract 76 DOM
3. 2026-06-16
   days on market $75,000 Active Under Contract 75 DOM
4. 2026-06-15
   days on market $75,000 Active Under Contract 74 DOM
5. 2026-06-14
   days on market $75,000 Active Under Contract 72 DOM
6. 2026-06-13
   days on market $75,000 Active Under Contract 71 DOM
7. 2026-06-10
   days on market $75,000 Active Under Contract 69 DOM
8. 2026-06-09
   days on market $75,000 Active Under Contract 68 DOM
9. 2026-06-08
   statusdays on market $75,000 Active Under Contract 67 DOM
10. 2026-06-07
    days on market $75,000 Active 66 DOM
11. 2026-06-03
    pricedays on market $75,000 Active 62 DOM
12. 2026-06-02
    days on market $72,500 Active 61 DOM
13. 2026-06-01
    days on market $72,500 Active 60 DOM
14. 2026-05-31
    days on market $72,500 Active 59 DOM
15. 2026-05-30
    days on market $72,500 Active 58 DOM
16. 2026-04-02
    listed $72,500 Active 320-char remark

    Show marketing remark (320 chars)

    * * Unapproved Short Sale * * Check out this 3-bedroom home with great potential! Whether you’re an investor looking for your next opportunity or a first-time homebuyer ready to make it your own, this property offers plenty of possibilities. This property will be sold As-Is, Where Is. Multiple offers received

17. 2026-03-05
    status Active
18. 2026-03-05
    price $125,000
19. 2026-02-23
    status Pending
20. 2026-02-18
    price $119,900
21. 2026-01-09
    price $129,900
22. 2025-11-26
    listed $134,900 Active
23. 2022-07-13
    soldstatus $112,000 Closed
24. 2022-05-27
    historical
25. 2022-04-29
    listed $105,900
26. 2021-11-18
    soldstatus $39,900
27. 2021-11-08
    listed $39,900

ⓘ 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: $1,185 · $99/mo
• Projected year-2 tax: $1,185 · $99/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 · 15 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: $16,086
• − Mortgage interest: −$4,201
• − Property taxes: −$1,185
• − Insurance: −$375
• − Repairs & maintenance: −$1,287
• − Management: −$1,287
• − Depreciation: −$2,182
• Taxable income: $5,570
• Est. tax owed @ 24.0%: −$1,337
• After-tax cash flow: $5,092/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): 27,685
• Household income: $61,759
• Rent vs Own: 31.6% rent · 68.4% own
• Severe rent burden: 1024.0

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 0.60)
• Race & ethnicity: White 55% Black 30% Hispanic / Latino 10% Two or more races 8%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 12% Lithuanian 1% Slovak 1%
• Foreign-born: 7% · Canada, China
• Languages at home: 89% English-only · Spanish 7% 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: ▼ -130.47%
• Current HPI: 202.112
• Rent YoY: ▲ 6.78%
• 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

+81.7% since first listed

12 events — show timeline

• 2026-04-02 Listed $72,500 IRMLS
• 2026-03-05 Relisted — IRMLS
• 2026-03-05 Price Changed $125,000 IRMLS
• 2026-02-23 Pending — IRMLS
• 2026-02-18 Price Changed $119,900 IRMLS
• 2026-01-09 Price Changed $129,900 IRMLS
• 2025-11-26 Listed $134,900 IRMLS
• 2022-07-13 Sold (MLS) $112,000 IRMLS
• 2022-05-27 Delisted — IRMLS
• 2022-04-29 Listed $105,900 IRMLS
• 2021-11-18 Sold (MLS) $39,900 IRMLS
• 2021-11-08 Listed $39,900 IRMLS

Property tax history

-8.2%/yr

Latest (2023): $1,185 · +77.2% YoY. Source: county tax records.