202 N Brookfield St · South Bend, IN 46628

$99,000

2 bd · 1.0 ba · 1,183 sqft · SingleFamily public records · 17 Days on market

Built 1897 3,920 sqft lot Est $92k · 7% 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 +29.1/30.0
• DSCR +10.0/10.0
• 1% rule +7.9/10.0
• ARV discount +4.2/15.0
• 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

Charming 2 bedroom house, possible 3 bedrooms- Ideal for Investment Opportunity! This Cozy 2 bedroom, 1 bathroom house has been a consistent income producing rental for many years. while it needs some TLC, it offers great potential for investors or first time homebuyers looking to put their personal touch on their new home! This property is being sold "AS IS" Don't miss out on this great investment opportunity! Seller is offering a Home Warranty and $5000 concessions towards acceptable offers.

Key facts

• 3,920 sq ft lot
• Garage
• Built 1897

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); One story
• Construction: Aluminum siding
• Exterior features: Corner lot; Lot dimensions approximately 45 x 86

Interior

• Kitchen: Dishwasher; Refrigerator; Gas range
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas forced-air heating; No cooling
• Interior features: Dishwasher; Refrigerator; Gas range; Partial basement; 6 total rooms
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $99k.

Deal economics

• At list price, monthly cash flow is $343 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.4% 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, crime 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.
• Zoned schools: Madison S.T.E.A.M. Academy (math 2% / reading 2%, grade F, #994 of 994 statewide, top 100%, 618 students, 93% FRL); Dickinson Fine Arts Academy (math 0% / reading 5%, grade F, #329 of 330 statewide, top 100%, 449 students, 86% FRL); Washington High School (math 12% / reading 42%, grade F, #315 of 369 statewide, top 86%, 834 students, 79% FRL) — zoned schools average 86% FRL vs 66% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.8%/yr); 424 active listings in the ZIP; 36 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 $684 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.8% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 10 sale attempts since 8y ago; this cycle's ask has dropped $6k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $16k; list at $99k implies a 519% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

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

Recommended offer $97,515 (1.5% below list)

Questions for the listing agent

1. Built in 1897 — 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. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.29% ✓
• Cap rate: 10.45%
• Cash-on-cash: 14.84%
• DSCR: 1.66
• GRM: 6.5

CMA / ARV

• ARV (on-the-fly): $92,274
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1901 Linden Ave	0.09mi	3/1.0 (+1)	1,073 (-9%)	0mo	$167,000	$156	75
2018 Roger St	0.31mi	3/1.0 (+1)	1,152 (-3%)	2mo	$75,000	$65	75
2121 Linden Ave	0.20mi	3/1.0 (+1)	1,072 (-9%)	2mo	$70,000	$65	68
2518 Rogers St	0.52mi	3/1.0 (+1)	1,232 (+4%)	1mo	$90,000	$73	63
740 Johnson St	0.50mi	3/1.0 (+1)	1,264 (+7%)	0mo	$146,200	$116	60
1233 Van Buren St	0.68mi	3/1.0 (+1)	1,168 (-1%)	2mo	$50,000	$43	59
310 S Kaley St	0.66mi	3/1.0 (+1)	1,158 (-2%)	2mo	$144,000	$124	59
1021 N O'brien St	0.70mi	3/1.0 (+1)	1,176 (-1%)	5mo	$45,000	$38	57
611 Blaine Ave	0.60mi	2/1.0	1,316 (+11%)	2mo	$162,000	$123	51
502 Studebaker St	0.36mi	3/1.0 (+1)	1,352 (+14%)	8mo	$25,000	$18	48
421 S Carlisle St	0.53mi	3/1.0 (+1)	1,023 (-14%)	0mo	$80,000	$78	47
716 Blaine Ave	0.67mi	3/1.5 (+1)	1,344 (+14%)	7mo	$135,000	$100	33

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: 9.5%
• Equity multiple: 1.39×
• Total profit: $10,837
• Equity at exit: $14,761

10-year hold

• IRR: 21.6%
• Equity multiple: 3.16×
• Total profit: $59,946
• Equity at exit: $8,560

Cash invested: $27,720 (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: 6.5×

Monthly cashflow live

• Estimated rent: $1,277 high
• Mortgage (P&I): −$519
• Tax from tax record: −$106 /mo · $1,271/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$268
• Net cashflow: $343

Break-even live

Break-even rent $843

Max offer price $99,000

Occupancy floor 68%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 36 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	13d	1	0.27mi
2417 Linden Ave South Bend, IN	2.0	1.0	1000	$1,200	$1.20	43d	1	0.40mi
736 Lawndale Ave Unit 1 South Bend, IN	3.0	1.0	1072	$1,200	$1.12	13d	1	0.58mi
2010 Lincoln Way W Unit 2 South Bend, IN	3.0	1.0	1150	$1,325	$1.15	20d	1	0.61mi
752 Diamond Ave South Bend, IN	3.0	1.5	1248	$1,400	$1.12	43d	1	0.66mi
208 S Bendix Dr South Bend, IN	3.0	1.0	864	$1,150	$1.33	20d	1	0.67mi
1118 Van Buren St South Bend, IN	3.0	1.0	1394	$1,375	$0.99	20d	1	0.75mi
453 S Kaley St Unit 1 South Bend, IN	2.0	1.0	1100	$1,050	$0.95	43d	1	0.77mi
2502 Ford St South Bend, IN	3.0	1.0	1176	$1,175	$1.00	43d	1	0.78mi
1046 N Elmer St South Bend, IN	2.0	1.0	1050	$1,025	$0.98	20d	1	0.81mi
1317 Poland St South Bend, IN	3.0	1.0	1100	$1,300	$1.18	20d	1	0.81mi
910 Allen St South Bend, IN	3.0	1.0	1100	$1,350	$1.23	20d	1	0.86mi
1206 Johnson St South Bend, IN	3.0	1.5	1320	$1,400	$1.06	43d	1	0.90mi
1141 Fremont St South Bend, IN	3.0	1.0	760	$1,100	$1.45	20d	1	0.95mi
1237 Wilber St South Bend, IN	2.0	1.0	880	$1,200	$1.36	43d	1	0.97mi
1314 Johnson St South Bend, IN	2.0	1.0	902	$1,150	$1.27	13d	1	1.00mi
221 S Taylor St South Bend, IN	3.0	2.0	1178	$2,599	$2.21	13d	1	1.05mi
1201 Woodward Ave South Bend, IN	2.0	1.0	960	$1,675	$1.74	43d	1	1.09mi
421 S Lake St South Bend, IN	2.0	1.0	900	$1,200	$1.33	43d	1	1.10mi
2013 Elwood Ave South Bend, IN	3.0	1.0	720	$999	$1.39	43d	1	1.12mi
1505 N Adams St South Bend, IN	3.0	1.0	1200	$1,350	$1.12	13d	1	1.17mi
3220 Vermont Pl South Bend, IN	2.0	1.0	725	$1,100	$1.52	13d	1	1.18mi
2823 Calhoun St South Bend, IN	2.0	1.0	720	$1,249	$1.73	43d	1	1.20mi
1505 Huey St South Bend, IN	3.0	1.0	864	$1,425	$1.65	20d	1	1.20mi
211 W Washington St South Bend, IN	3.0	1.0–2.5	1162	$5,399	$4.64	20d	19	1.27mi
1428 Kessler Blvd South Bend, IN	3.0	1.0	936	$1,000	$1.07	43d	1	1.28mi
1630 Obrien St South Bend, IN	3.0	1.0	1120	$1,400	$1.25	13d	1	1.29mi
202 N Chicago St South Bend, IN	2.0	1.0	720	$1,055	$1.47	43d	1	1.29mi
1642 Johnson St South Bend, IN	3.0	1.0	1375	$1,400	$1.02	13d	1	1.31mi
1614 Fremont St South Bend, IN	2.0	1.0	720	$850	$1.18	20d	1	1.31mi
1214 Queen St South Bend, IN	3.0	1.0	1056	$1,300	$1.23	13d	1	1.33mi
125 W Marion St South Bend, IN	2.0	1.0	672	$1,350	$2.01	13d	5	1.35mi
1308 Kinyon St South Bend, IN	2.0	1.0	700	$1,100	$1.57	43d	1	1.36mi
1710 Johnson St South Bend, IN	3.0	1.0	1000	$1,350	$1.35	43d	1	1.37mi
1709 Huey St South Bend, IN	2.0	1.0	720	$995	$1.38	20d	1	1.39mi
344 Parkovash Ave South Bend, IN	3.0	1.0	950	$1,900	$2.00	13d	1	1.45mi

Listing history 15 events

1. 2026-06-19
   price $99,000 Active 17 DOM
2. 2026-06-18
   days on market $105,000 Active 17 DOM
3. 2026-06-17
   days on market $105,000 Active 16 DOM
4. 2026-06-16
   days on market $105,000 Active 15 DOM
5. 2026-06-15
   days on market $105,000 Active 14 DOM
6. 2026-06-14
   days on market $105,000 Active 12 DOM
7. 2026-06-13
   days on market $105,000 Active 11 DOM
8. 2026-06-10
   days on market $105,000 Active 9 DOM
9. 2026-06-09
   days on market $105,000 Active 8 DOM
10. 2026-06-08
    days on market $105,000 Active 7 DOM
11. 2026-06-07
    remarks 500-char remark
12. 2026-06-07
    days on market $105,000 Active 6 DOM
13. 2026-06-03
    days on market $105,000 Active 2 DOM
14. 2026-06-02
    remarks 415-char remark
15. 2026-06-02
    listed $105,000 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: $1,271 · $106/mo
• Projected year-2 tax: $1,271 · $106/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 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,327
• − Mortgage interest: −$5,546
• − Property taxes: −$1,271
• − Insurance: −$495
• − Repairs & maintenance: −$1,226
• − Management: −$1,226
• − Depreciation: −$2,880
• Taxable income: $2,684
• Est. tax owed @ 24.0%: −$644
• After-tax cash flow: $3,469/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

+91.2% since first listed

21 events — show timeline

• 2026-06-01 Listed $105,000 IRMLS
• 2025-12-22 Rental Removed $950 APPFOLIO
• 2025-12-16 Listed for Rent $950 APPFOLIO
• 2025-12-03 Rental Removed $1,050 APPFOLIO
• 2025-11-22 Price Changed $1,050 APPFOLIO
• 2025-11-15 Listed for Rent $1,150 APPFOLIO
• 2025-11-02 Rental Removed $1,300 APPFOLIO
• 2025-09-12 Listed for Rent $1,300 APPFOLIO
• 2025-08-09 Rental Removed $1,300 APPFOLIO
• 2025-08-01 Listed for Rent $1,300 APPFOLIO
• 2025-01-19 Rental Removed $1,000 APPFOLIO
• 2024-12-20 Listed $95,000 IRMLS
• 2024-11-14 Price Changed $1,000 APPFOLIO
• 2024-11-13 Price Changed $1,200 APPFOLIO
• 2024-11-12 Price Changed $1,000 APPFOLIO
• 2024-10-25 Listed for Rent $1,100 APPFOLIO
• 2020-07-20 Listed $39,900 IRMLS
• 2019-05-23 Listed $29,500 IRMLS
• 2018-10-30 Sold (MLS) $16,000 IRMLS
• 2018-09-10 Listed $21,500 IRMLS
• 2008-02-22 Sold (Public Records) $54,915 Public Records

Property tax history

-3.2%/yr

Latest (2024): $1,271 · +121.2% YoY. Source: county tax records.