52078 Forestbrook Ave · Roseland, IN 46637

$39,400

3 bd · 1.0 ba · 1,308 sqft · SingleFamily public records · 66 Days on market

Built 1937 5,663 sqft lot $30/sqft · 74% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Livability +3.3/5.0
• 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

Investor Alert! Check out this great low price how with tons of upside potential. After a rehab this would make a great home to live in, flip it, or rental to add to your portfolio. Main floor has living room, kitchen, 2 bedrooms, laundry, & bathroom. Upstairs offers large additional bedroom or chop it up into a few rooms. Seller has very little info, never lived in home, and has not owned long. Utilities are off- Bring flashlight. Seller will only consider cash, AS-IS offers from buyers ready to close quickly. Buyer/buyer's agent to verify room dimensions, SF, zoning, utilities & schools.

Key facts

• 5,663 sq ft lot
• Built 1937
• Listed 66 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $39k.

Deal economics

• At list price, monthly cash flow is $922 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $39k).
• Recommended offer: $37k (6.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 66/100 on livability (#312 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A, health & safety B; Watch: schools D-, amenities F, commute 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: 112 active listings in the ZIP; 3 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 $272 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($37k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $10k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $23k; list at $39k implies a 71% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $37,036 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 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 1937 — 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 D-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. 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: 3.79% ✓
• Cap rate: 34.37%
• Cash-on-cash: 100.27%
• DSCR: 5.46
• GRM: 2.2

CMA / ARV

• ARV (median comp): $188,043
• List price: $39,400
• Delta: -79.05%
• 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
52303 Hollyhock Rd	0.24mi	3/2.0	1,312 (+0%)	1mo	$185,000	$141	84
19278 Brick Rd	0.04mi	2/1.5 (-1)	1,391 (+6%)	9mo	$169,500	$122	73
52236 Myrtle Ave	0.37mi	3/1.0	1,421 (+9%)	3mo	$198,900	$140	66
52244 Lily Rd	0.27mi	3/1.0	1,113 (-15%)	8mo	$198,000	$178	56
51651 Hollyhock Rd	0.41mi	3/1.0	1,120 (-14%)	3mo	$163,000	$146	54
51700 Prescott Ave	0.40mi	3/2.0	1,450 (+11%)	6mo	$429,900	$296	54
19254 Helen Ave	0.42mi	2/2.0 (-1)	1,374 (+5%)	12mo	$220,000	$160	53
51560 Hollyhock Rd	0.50mi	3/1.5	1,440 (+10%)	6mo	$197,000	$137	53
19175 Arthur St	0.69mi	3/2.0	1,232 (-6%)	11mo	$195,000	$158	45
51613 Emmons Rd	0.72mi	3/2.0	1,218 (-7%)	9mo	$266,900	$219	44
19511 Eaton Ave	0.51mi	3/1.5	1,497 (+14%)	10mo	$227,000	$152	42
19253 Hamilton St	0.61mi	3/2.0	1,144 (-12%)	8mo	$193,000	$169	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 5.74×
• Total profit: $52,340
• Equity at exit: $5,875

10-year hold

• IRR: —
• Equity multiple: 11.99×
• Total profit: $121,231
• Equity at exit: $3,407

Cash invested: $11,032 (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 46637

• Active inventory: 112
• Price-to-rent: 2.2×

Monthly cashflow live

• Estimated rent: $1,492 medium
• Mortgage (P&I): −$207
• Tax from tax record: −$34 /mo · $406/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $922

Break-even live

Break-even rent $325

Max offer price $39,400

Occupancy floor 33%

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: $9,850
• Closing costs: $1,182
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
52912 Francis St South Bend, IN	3.0	1.0	1248	$1,050	$0.84	20d	1	0.90mi
19025 Oakmont North Dr South Bend, IN	3.0	2.0	1650	$1,800	$1.09	20d	1	1.03mi
924 Merrill Ct S Unit 924 South Bend, IN	2.0	1.5	1263	$1,795	$1.42	13d	1	1.27mi

Listing history 14 events

1. 2026-05-12
   status Pending 607-char remark

   Show marketing remark (607 chars)

   Investor Alert! Check out this great low price how with tons of upside potential. After a rehab this would make a great home to live in, flip it, or rental to add to your portfolio. Main floor has living room, kitchen, 2 bedrooms, laundry, & bathroom. Upstairs offers large additional bedroom or chop it up into a few rooms. Seller has very little info, never lived in home, and has not owned long. Utilities are off- Bring flashlight. Seller will only consider cash, AS-IS offers from buyers ready to close quickly. Buyer/buyer's agent to verify room dimensions, SF, zoning, utilities & schools.

2. 2026-04-20
   price $39,400 607-char remark

   Show marketing remark (607 chars)

   Investor Alert! Check out this great low price how with tons of upside potential. After a rehab this would make a great home to live in, flip it, or rental to add to your portfolio. Main floor has living room, kitchen, 2 bedrooms, laundry, & bathroom. Upstairs offers large additional bedroom or chop it up into a few rooms. Seller has very little info, never lived in home, and has not owned long. Utilities are off- Bring flashlight. Seller will only consider cash, AS-IS offers from buyers ready to close quickly. Buyer/buyer's agent to verify room dimensions, SF, zoning, utilities & schools.

3. 2026-04-09
   price $39,900 607-char remark

   Show marketing remark (607 chars)

   Investor Alert! Check out this great low price how with tons of upside potential. After a rehab this would make a great home to live in, flip it, or rental to add to your portfolio. Main floor has living room, kitchen, 2 bedrooms, laundry, & bathroom. Upstairs offers large additional bedroom or chop it up into a few rooms. Seller has very little info, never lived in home, and has not owned long. Utilities are off- Bring flashlight. Seller will only consider cash, AS-IS offers from buyers ready to close quickly. Buyer/buyer's agent to verify room dimensions, SF, zoning, utilities & schools.

4. 2026-04-02
   price $44,900 607-char remark

   Show marketing remark (607 chars)

   Investor Alert! Check out this great low price how with tons of upside potential. After a rehab this would make a great home to live in, flip it, or rental to add to your portfolio. Main floor has living room, kitchen, 2 bedrooms, laundry, & bathroom. Upstairs offers large additional bedroom or chop it up into a few rooms. Seller has very little info, never lived in home, and has not owned long. Utilities are off- Bring flashlight. Seller will only consider cash, AS-IS offers from buyers ready to close quickly. Buyer/buyer's agent to verify room dimensions, SF, zoning, utilities & schools.

5. 2026-03-26
   price $46,900 607-char remark

   Show marketing remark (607 chars)

   Investor Alert! Check out this great low price how with tons of upside potential. After a rehab this would make a great home to live in, flip it, or rental to add to your portfolio. Main floor has living room, kitchen, 2 bedrooms, laundry, & bathroom. Upstairs offers large additional bedroom or chop it up into a few rooms. Seller has very little info, never lived in home, and has not owned long. Utilities are off- Bring flashlight. Seller will only consider cash, AS-IS offers from buyers ready to close quickly. Buyer/buyer's agent to verify room dimensions, SF, zoning, utilities & schools.

6. 2026-03-16
   price $48,400 607-char remark

   Show marketing remark (607 chars)

   Investor Alert! Check out this great low price how with tons of upside potential. After a rehab this would make a great home to live in, flip it, or rental to add to your portfolio. Main floor has living room, kitchen, 2 bedrooms, laundry, & bathroom. Upstairs offers large additional bedroom or chop it up into a few rooms. Seller has very little info, never lived in home, and has not owned long. Utilities are off- Bring flashlight. Seller will only consider cash, AS-IS offers from buyers ready to close quickly. Buyer/buyer's agent to verify room dimensions, SF, zoning, utilities & schools.

7. 2026-03-06
   listed $49,900 Active 607-char remark

   Show marketing remark (607 chars)

   Investor Alert! Check out this great low price how with tons of upside potential. After a rehab this would make a great home to live in, flip it, or rental to add to your portfolio. Main floor has living room, kitchen, 2 bedrooms, laundry, & bathroom. Upstairs offers large additional bedroom or chop it up into a few rooms. Seller has very little info, never lived in home, and has not owned long. Utilities are off- Bring flashlight. Seller will only consider cash, AS-IS offers from buyers ready to close quickly. Buyer/buyer's agent to verify room dimensions, SF, zoning, utilities & schools.

8. 2026-02-21
   price $49,900
9. 2026-02-09
   price $54,900
10. 2026-01-30
    price $59,900
11. 2026-01-21
    price $64,900
12. 2026-01-07
    listed $69,900 Active
13. 2016-09-08
    soldstatus $23,000
14. 2016-07-30
    listed $24,000

ⓘ 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: $406 · $34/mo
• Projected year-2 tax: $406 · $34/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 ≥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: $17,905
• − Mortgage interest: −$2,207
• − Property taxes: −$406
• − Insurance: −$197
• − Repairs & maintenance: −$1,432
• − Management: −$1,432
• − Depreciation: −$1,146
• Taxable income: $11,083
• Est. tax owed @ 24.0%: −$2,660
• After-tax cash flow: $8,402/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 — Roseland

• Score: 66/100
• State rank: #312
• US rank: #12324

Category grades

Amenities F Commute F 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

• Population (ZIP): 16,079

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 (71%)
• Race & ethnicity: White 71% Black 17% Two or more races 6% Asian 4% Hispanic / Latino 3%
• Common ancestry: Romanian 11% Italian 3% Iranian 3%
• Foreign-born: 9% · China, Canada, Vietnam
• Languages at home: 91% English-only · Spanish 2% Chinese 2% 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: ▼ -128.33%
• Current HPI: 210.1124
• 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

+64.2% since first listed

14 events — show timeline

• 2026-05-12 Pending — IRMLS
• 2026-04-20 Price Changed $39,400 IRMLS
• 2026-04-09 Price Changed $39,900 IRMLS
• 2026-04-02 Price Changed $44,900 IRMLS
• 2026-03-26 Price Changed $46,900 IRMLS
• 2026-03-16 Price Changed $48,400 IRMLS
• 2026-03-06 Listed $49,900 IRMLS
• 2026-02-21 Price Changed $49,900 IRMLS
• 2026-02-09 Price Changed $54,900 IRMLS
• 2026-01-30 Price Changed $59,900 IRMLS
• 2026-01-21 Price Changed $64,900 IRMLS
• 2026-01-07 Listed $69,900 IRMLS
• 2016-09-08 Sold (MLS) $23,000 IRMLS
• 2016-07-30 Listed $24,000 IRMLS

Property tax history

-11.8%/yr

Latest (2023): $406 · -17.3% YoY. Source: county tax records.