726 W Calvert St · South Bend, IN 46613

$105,000

2 bd · 1.0 ba · 1,029 sqft · SingleFamily public records · 95 Days on market

Built 1906 6,534 sqft lot $102/sqft · 9% above area Est $96k · 9% over

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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 +25.4/30.0
• DSCR +8.4/10.0
• 1% rule +6.5/10.0
• ARV discount +3.5/15.0
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to this beautifully refreshed 2 bedroom, 1 bathroom home featuring a bright, newly painted interior and new flooring throughout. The kitchen has been completely updated with new cabinets and countertops offering a clean and modern space for cooking and entertaining. The bathroom has also been tastefully updated for a fresh contemporary feel. Enjoy outdoor living on the new front and back patios, perfect for relaxing, grilling, or hosting gatherings. Conveniently located just 7 minutes to Four Winds Casino and the U. S. 20 Bypass, and only 15 minutes to the University of Notre Dame, this home offers quick access to entertainment, dining, and major travel routes. Move-in ready and waiting for its next owner - don't miss this great opportunity!

Key facts

• New flooring
• New cabinets
• Updated kitchen

Tags

• NEWLY PAINTED INTERIOR
• NEW FLOORING
• UPDATED KITCHEN
• NEW CABINETS
• NEW COUNTERTOPS
• UPDATED BATHROOM

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $241 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $96k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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 (+4.1%/yr); 77 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 754 units permitted in St. Joseph County in 2024 (460 in 5+ unit buildings).
• This rent runs 34% of the median local income ($43k/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 $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $29k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($96k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask is 6% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Risks & watch-outs

• Watch-outs: built in 1906 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $95,550 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1906 — 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: 1.15% ✓
• Cap rate: 9.04%
• Cash-on-cash: 9.82%
• DSCR: 1.44
• GRM: 7.2

CMA / ARV

• ARV (median comp): $96,391
• List price: $105,000
• Delta: 8.93%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1909 S Lafayette Blvd	0.34mi	2/1.5	1,066 (+4%)	1mo	$151,000	$142	76
2126 S Scott St	0.19mi	3/1.0 (+1)	960 (-7%)	0mo	$163,400	$170	75
1638 S Scott St	0.20mi	3/1.0 (+1)	960 (-7%)	2mo	$141,000	$147	73
712 W Calvert St	0.04mi	3/1.0 (+1)	1,152 (+12%)	1mo	$154,000	$134	73
1919 S Taylor St	0.13mi	2/1.0	916 (-11%)	7mo	$135,000	$147	70
2118 Oliver St	0.33mi	3/1.0 (+1)	1,040 (+1%)	12mo	$152,500	$147	68
1628 Catalpa Ave	0.21mi	3/1.0 (+1)	962 (-6%)	12mo	$35,000	$36	64
1413 W Indiana Ave	0.59mi	3/1.0 (+1)	1,030 (+0%)	5mo	$115,500	$112	63
1778 Prairie Ave	0.49mi	2/1.0	1,122 (+9%)	9mo	$37,500	$33	54
2122 Arnold St	0.39mi	3/1.0 (+1)	936 (-9%)	13mo	$120,000	$128	51
211 E Dayton St	0.69mi	3/2.0 (+1)	1,100 (+7%)	9mo	$185,000	$168	40
1701 Swygart Ave	0.54mi	2/2.0	896 (-13%)	14mo	$125,000	$140	38

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 · 4.08% rent growth · sell at horizon

5-year hold

• IRR: -0.3%
• Equity multiple: 0.99×
• Total profit: $-356
• Equity at exit: $15,656

10-year hold

• IRR: 10.4%
• Equity multiple: 1.85×
• Total profit: $25,027
• Equity at exit: $9,078

Cash invested: $29,400 (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 46613

• Home prices YoY: -7.2%
• Rents YoY: 4.1%
• Active inventory: 77
• Price-to-rent: 7.2×

Monthly cashflow live

• Estimated rent: $1,208 high
• Mortgage (P&I): −$551
• Tax from tax record: −$119 /mo · $1,430/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $241

Break-even live

Break-even rent $903

Max offer price $105,000

Occupancy floor 75%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1920 S Scott St South Bend, IN	2.0	1.0	816	$1,000	$1.23	13d	1	0.09mi
2002 Catalpa Ave South Bend, IN	3.0	1.0	1424	$1,250	$0.88	20d	1	0.12mi
2102 S Scott St South Bend, IN	3.0	1.0	768	$1,250	$1.63	43d	1	0.15mi
1909 Swygart Ave South Bend, IN	2.0	1.0	720	$1,100	$1.53	13d	1	0.51mi
1928 S Walnut St South Bend, IN	2.0	1.0	700	$1,150	$1.64	43d	1	0.55mi
202 E Calvert St South Bend, IN	2.0	1.0	1000	$999	$1.00	20d	1	0.64mi
214 Altgeld St South Bend, IN	2.0	1.0	950	$1,200	$1.26	20d	1	0.73mi
237 E Victoria St South Bend, IN	3.0	1.0	840	$995	$1.18	43d	1	0.78mi
317 E Indiana Ave South Bend, IN	3.0	1.0	1344	$1,200	$0.89	20d	1	0.81mi
525 E Eckman St South Bend, IN	3.0	1.0	1400	$1,500	$1.07	43d	1	1.01mi
405 E Woodside St South Bend, IN	3.0	1.0	1440	$1,425	$0.99	20d	1	1.01mi
1317 Poland St South Bend, IN	3.0	1.0	1100	$1,300	$1.18	20d	1	1.07mi
2114 High St South Bend, IN	3.0	1.0	949	$1,300	$1.37	43d	1	1.09mi
821 E Fairview Ave South Bend, IN	3.0	1.0	1248	$1,399	$1.12	43d	1	1.19mi
909 E Fairview Ave South Bend, IN	3.0	1.0	1128	$1,450	$1.29	43d	1	1.23mi
1912 Miami St Unit 1912 South Bend, IN	3.0	1.5	1300	$1,400	$1.08	43d	1	1.31mi
604 E South St South Bend, IN	1.0	1.0	750	$825	$1.10	43d	1	1.37mi
221 S Taylor St South Bend, IN	3.0	2.0	1178	$2,599	$2.21	13d	1	1.39mi
1142 E Indiana Ave South Bend, IN	1.0	1.0	751	$599	$0.80	13d	1	1.42mi
4005 Addison St South Bend, IN	3.0	1.0	900	$1,250	$1.39	43d	1	1.47mi

Listing history 22 events

1. 2026-06-18
   days on market $105,000 Active 95 DOM
2. 2026-06-17
   days on market $105,000 Active 94 DOM
3. 2026-06-16
   price $105,000 Active 93 DOM
4. 2026-06-16
   days on market $120,000 Active 93 DOM
5. 2026-06-15
   days on market $120,000 Active 92 DOM
6. 2026-06-14
   days on market $120,000 Active 90 DOM
7. 2026-06-13
   days on market $120,000 Active 89 DOM
8. 2026-06-10
   days on market $120,000 Active 87 DOM
9. 2026-06-09
   days on market $120,000 Active 86 DOM
10. 2026-06-08
    days on market $120,000 Active 85 DOM
11. 2026-06-07
    pricedays on market $120,000 Active 84 DOM
12. 2026-06-03
    days on market $130,000 Active 80 DOM
13. 2026-06-02
    days on market $130,000 Active 79 DOM
14. 2026-06-01
    days on market $130,000 Active 78 DOM
15. 2026-05-31
    days on market $130,000 Active 77 DOM
16. 2026-05-30
    days on market $130,000 Active 76 DOM
17. 2026-05-07
    status Active 759-char remark

    Show marketing remark (759 chars)

    Welcome to this beautifully refreshed 2 bedroom, 1 bathroom home featuring a bright, newly painted interior and new flooring throughout. The kitchen has been completely updated with new cabinets and countertops offering a clean and modern space for cooking and entertaining. The bathroom has also been tastefully updated for a fresh contemporary feel. Enjoy outdoor living on the new front and back patios, perfect for relaxing, grilling, or hosting gatherings. Conveniently located just 7 minutes to Four Winds Casino and the U. S. 20 Bypass, and only 15 minutes to the University of Notre Dame, this home offers quick access to entertainment, dining, and major travel routes. Move-in ready and waiting for its next owner - don't miss this great opportunity!

18. 2026-05-07
    historical 759-char remark

    Show marketing remark (759 chars)

    Welcome to this beautifully refreshed 2 bedroom, 1 bathroom home featuring a bright, newly painted interior and new flooring throughout. The kitchen has been completely updated with new cabinets and countertops offering a clean and modern space for cooking and entertaining. The bathroom has also been tastefully updated for a fresh contemporary feel. Enjoy outdoor living on the new front and back patios, perfect for relaxing, grilling, or hosting gatherings. Conveniently located just 7 minutes to Four Winds Casino and the U. S. 20 Bypass, and only 15 minutes to the University of Notre Dame, this home offers quick access to entertainment, dining, and major travel routes. Move-in ready and waiting for its next owner - don't miss this great opportunity!

19. 2026-04-28
    price $130,000 759-char remark

    Show marketing remark (759 chars)

    Welcome to this beautifully refreshed 2 bedroom, 1 bathroom home featuring a bright, newly painted interior and new flooring throughout. The kitchen has been completely updated with new cabinets and countertops offering a clean and modern space for cooking and entertaining. The bathroom has also been tastefully updated for a fresh contemporary feel. Enjoy outdoor living on the new front and back patios, perfect for relaxing, grilling, or hosting gatherings. Conveniently located just 7 minutes to Four Winds Casino and the U. S. 20 Bypass, and only 15 minutes to the University of Notre Dame, this home offers quick access to entertainment, dining, and major travel routes. Move-in ready and waiting for its next owner - don't miss this great opportunity!

20. 2026-04-28
    status Active 759-char remark

    Show marketing remark (759 chars)

    Welcome to this beautifully refreshed 2 bedroom, 1 bathroom home featuring a bright, newly painted interior and new flooring throughout. The kitchen has been completely updated with new cabinets and countertops offering a clean and modern space for cooking and entertaining. The bathroom has also been tastefully updated for a fresh contemporary feel. Enjoy outdoor living on the new front and back patios, perfect for relaxing, grilling, or hosting gatherings. Conveniently located just 7 minutes to Four Winds Casino and the U. S. 20 Bypass, and only 15 minutes to the University of Notre Dame, this home offers quick access to entertainment, dining, and major travel routes. Move-in ready and waiting for its next owner - don't miss this great opportunity!

21. 2026-01-15
    status Pending 759-char remark

    Show marketing remark (759 chars)

    Welcome to this beautifully refreshed 2 bedroom, 1 bathroom home featuring a bright, newly painted interior and new flooring throughout. The kitchen has been completely updated with new cabinets and countertops offering a clean and modern space for cooking and entertaining. The bathroom has also been tastefully updated for a fresh contemporary feel. Enjoy outdoor living on the new front and back patios, perfect for relaxing, grilling, or hosting gatherings. Conveniently located just 7 minutes to Four Winds Casino and the U. S. 20 Bypass, and only 15 minutes to the University of Notre Dame, this home offers quick access to entertainment, dining, and major travel routes. Move-in ready and waiting for its next owner - don't miss this great opportunity!

22. 2025-12-02
    listed $99,000 Active 759-char remark

    Show marketing remark (759 chars)

    Welcome to this beautifully refreshed 2 bedroom, 1 bathroom home featuring a bright, newly painted interior and new flooring throughout. The kitchen has been completely updated with new cabinets and countertops offering a clean and modern space for cooking and entertaining. The bathroom has also been tastefully updated for a fresh contemporary feel. Enjoy outdoor living on the new front and back patios, perfect for relaxing, grilling, or hosting gatherings. Conveniently located just 7 minutes to Four Winds Casino and the U. S. 20 Bypass, and only 15 minutes to the University of Notre Dame, this home offers quick access to entertainment, dining, and major travel routes. Move-in ready and waiting for its next owner - don't miss this great opportunity!

ⓘ 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: $1,430 · $119/mo
• Projected year-2 tax: $1,430 · $119/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 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 2/10 Low 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: $14,493
• − Mortgage interest: −$5,882
• − Property taxes: −$1,430
• − Insurance: −$525
• − Repairs & maintenance: −$1,159
• − Management: −$1,159
• − Depreciation: −$3,055
• Taxable income: $1,283
• Est. tax owed @ 24.0%: −$308
• After-tax cash flow: $2,579/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): 12,279
• Household income: $42,537
• Rent vs Own: 46.6% rent · 53.4% own
• Severe rent burden: 545.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 41% Hispanic / Latino 24% Black 23% Two or more races 22% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Romanian 4% Italian 1% Slovak 1%
• Foreign-born: 9% · Canada, Philippines
• Languages at home: 81% English-only · Spanish 17% Other Asian/Pacific 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: ▼ -20.88%
• Current HPI: 270.0303
• Rent YoY: ▲ 4.08%
• 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

+31.3% since first listed

6 events — show timeline

• 2026-05-07 Relisted — IRMLS
• 2026-05-07 Delisted — IRMLS
• 2026-04-28 Price Changed $130,000 IRMLS
• 2026-04-28 Relisted — IRMLS
• 2026-01-15 Pending — IRMLS
• 2025-12-02 Listed $99,000 IRMLS

Property tax history

+8.5%/yr

Latest (2023): $1,430 · +23.4% YoY. Source: county tax records.