2307 Linden Ave · South Bend, IN 46628

$80,000

4 bd · 1.0 ba · 1,500 sqft · SingleFamily public records · 129 Days on market

Built 1897 3,485 sqft lot $53/sqft · 15% above area Est $70k · 15% over ↓ 36% since listing

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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 +30.0/30.0
• 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
• ARV discount +0.9/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome home to this charming property at 2307 Linden Ave! Conveniently located in the heart of South Bend, this home offers easy access to shopping, dining, and local amenities. Featuring four generously sized bedrooms and a main-floor bathroom, the layout provides both comfort and functionality. With minor updates, this home presents a great opportunity to personalize and make it your own. The spacious backyard is ideal for entertaining, outdoor activities, or simply relaxing. Don’t miss this great opportunity with plenty of potential!

Key facts

• Spacious backyard
• Local amenities
• 3,485 sq ft lot

Tags

• SPACIOUS BACKYARD
• EASY ACCESS TO SHOPPING
• EASY ACCESS TO DINING
• LOCAL AMENITIES

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $650 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $70k (12.0% below list) — sets the bar for market timing.
• Cap rate 16.0% 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; 25 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 $553 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 $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 129 days — a 12% lower offer ($70k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1897 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 129 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1897 — 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: 1.82% ✓
• Cap rate: 16.04%
• Cash-on-cash: 34.80%
• DSCR: 2.55
• GRM: 4.6

CMA / ARV

• ARV (median comp): $69,716
• List price: $80,000
• Delta: 14.75%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
201 College St	0.33mi	4/1.5	1,541 (+3%)	5mo	$169,900	$110	74
2510 Fredrickson St	0.44mi	3/1.0 (-1)	1,540 (+3%)	1mo	$76,000	$49	69
2205 Kenwood Ave	0.10mi	4/2.5	1,700 (+13%)	2mo	$49,000	$29	66
2205 Fredrickson St	0.42mi	3/2.0 (-1)	1,548 (+3%)	5mo	$105,000	$68	62
106 N Adams St	0.44mi	4/1.5	1,620 (+8%)	5mo	$60,000	$37	60
121 S Meade St	0.37mi	3/1.5 (-1)	1,664 (+11%)	1mo	$167,500	$101	57
525 Carlisle St	0.70mi	3/1.0 (-1)	1,526 (+2%)	4mo	$153,000	$100	56
1052 Obrien St	0.67mi	3/1.0 (-1)	1,625 (+8%)	6mo	$70,000	$43	44
1054 Huey St	0.67mi	4/1.5	1,288 (-14%)	2mo	$85,251	$66	41
644 N Walnut Ave	0.71mi	4/1.0	1,284 (-14%)	4mo	$38,000	$30	39
429 S Albert St	0.72mi	3/1.0 (-1)	1,682 (+12%)	5mo	$155,000	$92	37
1115 Johnson St	0.73mi	3/1.0 (-1)	1,300 (-13%)	4mo	$88,000	$68	35

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: 34.3%
• Equity multiple: 2.52×
• Total profit: $34,149
• Equity at exit: $11,928

10-year hold

• IRR: 43.1%
• Equity multiple: 5.84×
• Total profit: $108,465
• Equity at exit: $6,917

Cash invested: $22,400 (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 46628

• Rents YoY: 6.8%
• Active inventory: 424
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,456 high
• Mortgage (P&I): −$420
• Tax from tax record: −$47 /mo · $569/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$306
• Net cashflow: $650

Break-even live

Break-even rent $633

Max offer price $80,000

Occupancy floor 50%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2203 Smith St South Bend, IN	3.0	1.0	1248	$1,215	$0.97	14d	1	0.08mi
2010 Lincoln Way W Unit 2 South Bend, IN	3.0	1.0	1150	$1,325	$1.15	21d	1	0.55mi
2530 Bonds Ave South Bend, IN	5.0	1.5	1866	$2,000	$1.07	44d	1	0.61mi
1008 O Brien St Unit O South Bend, IN	3.0	1.0	1634	$800	$0.49	21d	1	0.61mi
2205 Lincoln Way W South Bend, IN	4.0	2.0	1440	$1,565	$1.09	14d	1	0.62mi
1054 Huey St South Bend, IN	4.0	2.0	1288	$1,550	$1.20	14d	1	0.70mi
736 Lawndale Ave Unit 1 South Bend, IN	3.0	1.0	1072	$1,200	$1.12	14d	1	0.71mi
2502 Ford St South Bend, IN	3.0	1.0	1176	$1,175	$1.00	44d	1	0.76mi
752 Diamond Ave South Bend, IN	3.0	1.5	1248	$1,400	$1.12	44d	1	0.79mi
1206 Johnson St South Bend, IN	3.0	1.5	1320	$1,400	$1.06	44d	1	0.85mi
1210 Johnson St South Bend, IN	3.0	2.0	1568	$1,250	$0.80	21d	1	0.86mi
1118 Van Buren St South Bend, IN	3.0	1.0	1394	$1,375	$0.99	21d	1	0.91mi
910 Allen St South Bend, IN	3.0	1.0	1100	$1,350	$1.23	21d	1	1.01mi
1317 Poland St South Bend, IN	3.0	1.0	1100	$1,300	$1.18	21d	1	1.01mi
1032 Allen St South Bend, IN	3.0	2.0	1580	$1,200	$0.76	44d	1	1.07mi
1505 N Adams St South Bend, IN	3.0	1.0	1200	$1,350	$1.12	14d	1	1.15mi
1243 Portage Ave South Bend, IN	3.0	1.0	1570	$1,500	$0.96	44d	1	1.17mi
609 N Scott St South Bend, IN	5.0	1.5	1951	$1,450	$0.74	44d	1	1.17mi
1630 Obrien St South Bend, IN	3.0	1.0	1120	$1,400	$1.25	14d	1	1.22mi
1642 Johnson St South Bend, IN	3.0	1.0	1375	$1,400	$1.02	14d	1	1.25mi
164 S Gladstone Ave South Bend, IN	4.0	1.0	1440	$1,365	$0.95	44d	1	1.28mi
504 W Navarre St South Bend, IN	3.0	1.5	1520	$1,350	$0.89	14d	1	1.31mi
221 S Taylor St South Bend, IN	3.0	2.0	1178	$2,599	$2.21	14d	1	1.32mi
1214 Queen St South Bend, IN	3.0	1.0	1056	$1,300	$1.23	14d	1	1.38mi
513 S Edison Ave South Bend, IN	3.0	1.0	1152	$1,195	$1.04	21d	1	1.40mi

Listing history 21 events

1. 2026-06-18
   days on market $80,000 Active 129 DOM
2. 2026-06-17
   days on market $80,000 Active 128 DOM
3. 2026-06-16
   days on market $80,000 Active 127 DOM
4. 2026-06-15
   days on market $80,000 Active 126 DOM
5. 2026-06-14
   days on market $80,000 Active 124 DOM
6. 2026-06-13
   days on market $80,000 Active 123 DOM
7. 2026-06-10
   days on market $80,000 Active 121 DOM
8. 2026-06-09
   days on market $80,000 Active 120 DOM
9. 2026-06-08
   days on market $80,000 Active 119 DOM
10. 2026-06-07
    days on market $80,000 Active 118 DOM
11. 2026-06-03
    days on market $80,000 Active 114 DOM
12. 2026-06-02
    days on market $80,000 Active 113 DOM
13. 2026-06-01
    days on market $80,000 Active 112 DOM
14. 2026-05-31
    days on market $80,000 Active 111 DOM
15. 2026-01-14
    listed $80,000 Active 549-char remark

    Show marketing remark (549 chars)

    Welcome home to this charming property at 2307 Linden Ave! Conveniently located in the heart of South Bend, this home offers easy access to shopping, dining, and local amenities. Featuring four generously sized bedrooms and a main-floor bathroom, the layout provides both comfort and functionality. With minor updates, this home presents a great opportunity to personalize and make it your own. The spacious backyard is ideal for entertaining, outdoor activities, or simply relaxing. Don’t miss this great opportunity with plenty of potential!

16. 2025-12-09
    status Active
17. 2025-11-14
    status Pending
18. 2025-11-08
    price $85,000
19. 2025-09-30
    price $99,000
20. 2025-06-28
    price $115,000
21. 2025-06-21
    listed $125,000 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: $569 · $47/mo
• Projected year-2 tax: $625 · $52/mo
• Expected delta: +$55/yr (+$5/mo · 9.7%)

ⓘ 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 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: $17,468
• − Mortgage interest: −$4,481
• − Property taxes: −$569
• − Insurance: −$400
• − Repairs & maintenance: −$1,397
• − Management: −$1,397
• − Depreciation: −$2,327
• Taxable income: $6,895
• Est. tax owed @ 24.0%: −$1,655
• After-tax cash flow: $6,141/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

-36.0% since first listed

7 events — show timeline

• 2026-01-14 Listed $80,000 IRMLS
• 2025-12-09 Relisted — IRMLS
• 2025-11-14 Pending — IRMLS
• 2025-11-08 Price Changed $85,000 IRMLS
• 2025-09-30 Price Changed $99,000 IRMLS
• 2025-06-28 Price Changed $115,000 IRMLS
• 2025-06-21 Listed $125,000 IRMLS

Property tax history

+7.2%/yr

Latest (2023): $569 · +8.3% YoY. Source: county tax records.