1025 Willow St · Mishawaka, IN 46545

$149,000

3 bd · 1.0 ba · 1,920 sqft · SingleFamily public records · 7 Days on market

Built 1950 5,410 sqft lot Est $248k · 40% under

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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 +25.1/30.0
• ARV discount +15.0/15.0
• DSCR +8.2/10.0
• 1% rule +6.0/10.0
• 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 1025 Willow St in Mishawaka! This 3-bed, 1-bath home offers 1,920 sq ft of space. Enjoy a roomy layout, natural light, and a large yard for relaxing or entertaining. Convenient to shopping, dining, and schools, it's ideal for homeowners or investors. Add your personal touch and make it your own. Property sold AS-IS

Key facts

• Large yard
• Convenient to dining
• 5,410 sq ft lot

Tags

• LARGE YARD
• CONVENIENT TO SHOPPING
• CONVENIENT TO DINING
• CONVENIENT TO SCHOOLS

Property features AI

Finance

• Other: Occupant type: Owner

Exterior

• Parking: Detached garage; 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: One and one-half story home; Built in 1950
• Construction: Unfinished basement
• Exterior features: Neighborhood view; Back yard fencing (partial)

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Primary bedroom; Second bedroom; Third bedroom
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning; Ceiling fans
• Interior features: No additional interior features listed
• Laundry & utility: Basement (unfinished)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $331 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $149k).
• Cap rate 9.0% 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: schools C-, 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.
• Market conditions: Rents rising fast (+5.2%/yr); 74 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 754 units permitted in St. Joseph County in 2024 (460 in 5+ unit buildings).
• This rent runs 35% of the median local income ($57k/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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 5.2% rent growth), your $42k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $149,000

Questions for the listing agent

1. Built in 1950 — 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: 1.10% ✓
• Cap rate: 8.96%
• Cash-on-cash: 9.51%
• DSCR: 1.42
• GRM: 7.6

CMA / ARV

• ARV (on-the-fly): $247,680
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1009 E Mishawaka Ave	0.44mi	2/2.0 (-1)	1,915 (-0%)	2mo	$242,750	$127	69
505 E Omer Ave	0.53mi	3/1.5	1,988 (+4%)	4mo	$240,000	$121	64
1616 Chestnut St	0.40mi	3/1.5	1,788 (-7%)	12mo	$220,000	$123	58
901 E Lawrence St	0.20mi	4/2.0 (+1)	1,695 (-12%)	7mo	$221,000	$130	56
1817 Margaret Ave	0.42mi	3/2.0	2,128 (+11%)	4mo	$225,000	$106	55
1137 E Mishawaka Ave	0.54mi	3/1.0	1,716 (-11%)	4mo	$242,000	$141	54
433 Park Ave	0.42mi	3/2.0	1,670 (-13%)	2mo	$219,000	$131	53
1719 Maplehurst Ave	0.48mi	3/2.5	1,706 (-11%)	1mo	$248,000	$145	52
112 W Grove St	0.68mi	4/2.0 (+1)	1,799 (-6%)	2mo	$258,000	$143	47
414 N Wenger Ave	0.53mi	4/1.5 (+1)	1,740 (-9%)	10mo	$225,000	$129	44
425 Gernhart Ave	0.62mi	2/2.0 (-1)	1,692 (-12%)	10mo	$205,000	$121	34
1026 E Lincolnway Way	0.68mi	3/2.0	2,170 (+13%)	12mo	$241,000	$111	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 · 5.2% rent growth · sell at horizon

5-year hold

• IRR: 0.4%
• Equity multiple: 1.01×
• Total profit: $606
• Equity at exit: $22,216

10-year hold

• IRR: 12.1%
• Equity multiple: 2.04×
• Total profit: $43,512
• Equity at exit: $12,883

Cash invested: $41,720 (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 46545

• Rents YoY: 5.2%
• Active inventory: 74
• Price-to-rent: 7.6×

Monthly cashflow live

• Estimated rent: $1,641 medium
• Mortgage (P&I): −$781
• Tax from tax record: −$122 /mo · $1,468/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $331

Break-even live

Break-even rent $1,223

Max offer price $149,000

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: $37,250
• Closing costs: $4,470
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
209 E Edgar Ave Mishawaka, IN	3.0	1.0	1400	$1,400	$1.00	14d	1	0.56mi
116 W Mishawaka Ave Mishawaka, IN	3.0	1.0–2.0	948	$2,321	$2.45	14d	31	0.71mi
507 Lincolnway E Unit 507 Mishawaka, IN	2.0	1.0	1961	$950	$0.48	21d	1	0.74mi
103 E 7th St Mishawaka, IN	4.0	2.0	2300	$1,750	$0.76	14d	1	1.18mi
642 E 11th St Mishawaka, IN	3.0	1.0	1248	$1,295	$1.04	21d	1	1.28mi

Listing history 2 events

1. 2026-04-30
   status Pending
2. 2026-04-23
   listed $149,000 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: $1,468 · $122/mo
• Projected year-2 tax: $1,468 · $122/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 ≥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: $19,692
• − Mortgage interest: −$8,346
• − Property taxes: −$1,468
• − Insurance: −$745
• − Repairs & maintenance: −$1,575
• − Management: −$1,575
• − Depreciation: −$4,335
• Taxable income: $1,647
• Est. tax owed @ 24.0%: −$395
• After-tax cash flow: $3,571/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

2 events — show timeline

• 2026-04-30 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-04-23 Listed $149,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+2.2%/yr

Latest (2023): $1,468 · -0.7% YoY. Source: county tax records.