529 W Marion St · Mishawaka, IN 46545

$130,000

2 bd · 1.0 ba · 920 sqft · SingleFamily public records · 8 Days on market

Built 1924 4,872 sqft lot Est $169k · 23% 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 +20.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.5/10.0
• 1% rule +4.9/10.0
• Rent growth +3.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this freshly painted, move-in-ready home in Mishawaka, offering 2 bedrooms and 1 full bath. Living room and kitchen feature durable vinyl plank flooring, while the kitchen boasts ample oak cabinetry along with included appliances, including a refrigerator and gas range/oven. Enjoy natural light from the built-in window bench, and take advantage of the spacious dining area, perfect for everyday living. Enclosed front porch offers more seating and/or flex space. The basement provides abundant storage space, adding valuable functionality to this well-maintained home. Buyer to verify taxes, schools, and room sizes (square footage); not warranted by seller or listing broker.

Key facts

• Natural light
• Ample oak cabinetry
• Included appliances

Tags

• DURABLE VINYL PLANK FLOORING
• AMPLE OAK CABINETRY
• INCLUDED APPLIANCES
• NATURAL LIGHT
• ENCLOSED FRONT PORCH
• ABUNDANT STORAGE SPACE

Property features AI

Finance

• Other: Directions: Main Street, West on Broadway, North on Charlotte, West on Marion
• Financial info: Information not specified
• HOA & community: Subdivision: Seebergers

Exterior

• Parking: Information not specified
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; One story
• Construction: Aluminum siding; Block foundation; Shingle roof; Built as site-built home
• Exterior features: Deck; Enclosed porch; Chain link and wood fencing; Level lot; Lot dimensions approx. 42 x 116

Interior

• Kitchen: Refrigerator; Gas oven; Gas range
• Bedrooms: Information not specified
• Flooring: Laminate; Tile; Vinyl
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas heating; Ceiling fan(s); Has cooling
• Interior features: Ceiling fan(s); Eat-in kitchen; Laminate counters; Full unfinished basement; 5 total rooms
• Laundry & utility: Gas dryer hookup in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $168 ($2k/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 $129k (0.9% below list).
• Recommended offer: $129k (0.9% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 5.3% in Mishawaka — 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 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); 74 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 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 $899 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $128,884 (0.9% below list)

Questions for the listing agent

1. Built in 1924 — 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. 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.
4. 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.
5. 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: 0.99% ✗
• Cap rate: 7.85%
• Cash-on-cash: 5.55%
• DSCR: 1.25
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $169,280
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
215 W Broadway St	0.31mi	2/1.0	896 (-3%)	2mo	$165,000	$184	80
807 W Lowell Ave	0.43mi	3/1.0 (+1)	925 (+0%)	1mo	$164,900	$178	74
810 S 35th St	0.53mi	2/1.0	864 (-6%)	2mo	$185,000	$214	64
218 E Borley Ave	0.61mi	2/1.0	880 (-4%)	2mo	$156,757	$178	62
722 S 32nd St	0.67mi	2/1.0	960 (+4%)	1mo	$170,000	$177	61
930 S 34th St	0.67mi	2/1.0	885 (-4%)	5mo	$149,500	$169	59
741 S 36th St	0.48mi	2/2.0	1,004 (+9%)	0mo	$200,000	$199	58
215 E Broadway St	0.55mi	3/1.0 (+1)	840 (-9%)	3mo	$155,000	$185	53
526 S 35th St	0.48mi	3/1.0 (+1)	1,028 (+12%)	2mo	$154,500	$150	52
3506 Pleasant St	0.74mi	2/1.0	1,008 (+10%)	1mo	$149,000	$148	49
3513 Pleasant St	0.70mi	2/1.0	816 (-11%)	0mo	$168,000	$206	48
509 S 32nd St	0.70mi	2/1.5	782 (-15%)	0mo	$154,900	$198	40

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: -5.4%
• Equity multiple: 0.80×
• Total profit: $-7,442
• Equity at exit: $19,383

10-year hold

• IRR: 6.6%
• Equity multiple: 1.54×
• Total profit: $19,795
• Equity at exit: $11,240

Cash invested: $36,400 (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: 74
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,289 high
• Mortgage (P&I): −$682
• Tax from tax record: −$114 /mo · $1,368/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$271
• Net cashflow: $168

Break-even live

Break-even rent $1,076

Max offer price $130,000

Occupancy floor 82%

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
724 Elizabeth St Mishawaka, IN	1.0	1.0	850	$875	$1.03	13d	1	0.40mi
116 W Mishawaka Ave Mishawaka, IN	3.0	1.0–2.0	948	$1,914	$2.02	13d	31	0.45mi
365 W Front St Mishawaka, IN	2.0	1.0–2.0	825	$3,050	$3.70	13d	1	0.57mi
1006 S 35th St South Bend, IN	3.0	2.0	816	$1,000	$1.23	13d	1	0.62mi
516 W 3rd St #6 Mishawaka, IN	2.0	1.0	700	$800	$1.14	13d	1	0.69mi
516 W 3rd St Apt 1 Mishawaka, IN	1.0	1.0	750	$800	$1.07	21d	1	0.69mi
3001 E Jefferson Blvd South Bend, IN	1.0–2.0	1.0–2.0	848	$1,329	$1.57	13d	21	0.72mi
3530 Northside Blvd South Bend, IN	1.0–2.0	1.0	850	$1,200	$1.41	13d	1	0.75mi
602 E Battell St Mishawaka, IN	1.0	1.0	980	$1,400	$1.43	21d	1	0.82mi
737 S 30th St South Bend, IN	3.0	2.0	1000	$1,600	$1.60	43d	1	0.82mi
526 S 28th St South Bend, IN	2.0	1.0	1000	$1,350	$1.35	13d	1	0.92mi
1202 W 7th St Unit B Mishawaka, IN	2.0	1.0	600	$1,100	$1.83	13d	1	0.97mi
300 Pin Oak Cir Mishawaka, IN	1.0–3.0	1.0–1.5	835	$1,052	$1.26	13d	1	0.98mi
804 S 27th St South Bend, IN	1.0	1.0	700	$850	$1.21	21d	1	1.00mi
427 S 27th St South Bend, IN	2.0	1.0	840	$950	$1.13	43d	1	1.01mi
607 Hendricks St Mishawaka, IN	2.0	1.0	528	$1,200	$2.27	21d	1	1.10mi
722 S Spring St Apt 3 Mishawaka, IN	2.0	1.0	800	$1,200	$1.50	13d	1	1.13mi
2508 E Mishawaka Ave Unit 3A South Bend, IN	1.0	1.0	600	$1,200	$2.00	43d	1	1.16mi
1218 S 26th St South Bend, IN	3.0	1.0	856	$1,400	$1.64	13d	1	1.18mi
2530 Pleasant St Unit 3 South Bend, IN	1.0	1.0	600	$925	$1.54	13d	1	1.20mi
117 Palau Ave Mishawaka, IN	3.0	1.0	1100	$1,650	$1.50	13d	1	1.21mi
754 S 23rd St South Bend, IN	3.0	1.0	884	$1,300	$1.47	43d	1	1.24mi
303 Village Dr Mishawaka, IN	1.0–3.0	1.0–1.5	918	$1,619	$1.76	13d	25	1.45mi
1106 S 20th St South Bend, IN	1.0–3.0	1.0–2.0	885	$924	$1.04	13d	1	1.49mi

Listing history 8 events

1. 2026-06-16
   status $130,000 Pending 8 DOM
2. 2026-06-15
   days on market $130,000 Active 8 DOM
3. 2026-06-14
   days on market $130,000 Active 6 DOM
4. 2026-06-13
   days on market $130,000 Active 5 DOM
5. 2026-06-10
   days on market $130,000 Active 3 DOM
6. 2026-06-09
   days on market $130,000 Active 2 DOM
7. 2026-06-07
   remarks 689-char remark
8. 2026-06-07
   listed $130,000 Active 1 DOM

ⓘ 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: $1,368 · $114/mo
• Projected year-2 tax: $1,368 · $114/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 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: $15,466
• − Mortgage interest: −$7,282
• − Property taxes: −$1,368
• − Insurance: −$650
• − Repairs & maintenance: −$1,237
• − Management: −$1,237
• − Depreciation: −$3,782
• Taxable loss: −$90
• Est. tax savings @ 24.0%: +$22
• After-tax cash flow: $2,041/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

1 event — show timeline

• 2026-06-07 Listed $130,000 IRMLS

Property tax history

-2.9%/yr

Latest (2024): $1,368 · -1.5% YoY. Source: county tax records.