1301 N Brookfield St · South Bend, IN 46628

$55,000

2 bd · 1.0 ba · 624 sqft · SingleFamily public records · 55 Days on market

Built 1926 4,792 sqft lot $88/sqft · 25% below area Est $74k · 25% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 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
• Appreciation +0.0/10.0

Listing remarks

Enjoy this unique 1 bedroom, 1 car garage with basement. Currently occupied by one tenant. Lease expires July 31st, 2026.

Key facts

• 4,792 sq ft lot
• Garage
• Built 1926

Property features AI

Finance

• Other: Property listed by Front Door Real Estate Team

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; 1 story
• Construction: Wood siding exterior; Block foundation; 624 above-grade finished area
• Exterior features: Level lot; Lot dimensions approximately 40 x 124

Interior

• Bedrooms: Bedrooms located on main level
• Bathrooms: 1 full bathroom on main level
• Heating & cooling: Natural gas forced air heating; No central cooling
• Interior features: Partial basement; 5 total rooms
• Laundry & utility: Main-level laundry

🏷️ Possibly a rental listed for sale. The $55,000 price doesn't fit this home's estimated sale value (~$73,822) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $447 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.1% 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: Muessel Elementary School (math 2% / reading 2%, grade F, #989 of 994 statewide, top 100%, 241 students, 88% FRL); Jefferson Traditional School (math 12% / reading 22%, grade F, #284 of 330 statewide, top 87%, 516 students, 64% FRL); Adams High School (math 28% / reading 57%, grade F, #195 of 369 statewide, top 53%, 1,976 students, 56% FRL) — zoned schools at 69% FRL track the district average.
• Market conditions: Rents rising fast (+6.8%/yr); 424 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 55% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $380 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 $15k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 10y ago; this cycle's ask has dropped $8k (12%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $10k; list at $55k implies a 450% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $53,350 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.92% ✓
• Cap rate: 16.05%
• Cash-on-cash: 34.86%
• DSCR: 2.55
• GRM: 4.3

CMA / ARV

• ARV (median comp): $73,822
• List price: $55,000
• Delta: -25.50%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1249 Fremont St	0.37mi	2/1.0	688 (+10%)	4mo	$29,900	$43	63
1527 Elwood Ave	0.27mi	2/1.0	672 (+8%)	15mo	$87,000	$129	62
1521 Fremont St	0.44mi	2/1.0	672 (+8%)	10mo	$55,000	$82	58
1224 Fremont St	0.34mi	2/1.0	704 (+13%)	5mo	$38,000	$54	58
1406 N Meade St	0.43mi	2/1.0	640 (+3%)	22mo	$50,000	$78	58
1131 Johnson St	0.14mi	3/1.0 (+1)	667 (+7%)	24mo	$50,000	$75	57
1034 Huey St	0.29mi	2/1.0	705 (+13%)	11mo	$42,000	$60	56
1626 Fremont St	0.46mi	2/1.0	672 (+8%)	12mo	$75,000	$112	56
1310 Goodland Ave	0.67mi	3/2.0 (+1)	600 (-4%)	2mo	$85,000	$142	52
1113 Queen St	0.67mi	2/1.0	656 (+5%)	13mo	$76,000	$116	49
1737 N Brookfield St	0.46mi	2/1.0	704 (+13%)	22mo	$94,900	$135	39

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: 34.6%
• Equity multiple: 2.54×
• Total profit: $23,766
• Equity at exit: $8,201

10-year hold

• IRR: 43.5%
• Equity multiple: 5.93×
• Total profit: $75,948
• Equity at exit: $4,755

Cash invested: $15,400 (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: 4.3×

Monthly cashflow live

• Estimated rent: $1,056 high
• Mortgage (P&I): −$288
• Tax from tax record: −$75 /mo · $902/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $447

Break-even live

Break-even rent $489

Max offer price $55,000

Occupancy floor 53%

Sensitivity live

Price	-10% $478	-5% $463	+0% $447	+5% $432	+10% $416
Rent	-10% $364	-5% $406	+0% $447	+5% $489	+10% $531
Rate	-1.0pp $475	-0.5pp $461	base $447	+0.5pp $433	+1.0pp $419

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2013 Elwood Ave South Bend, IN	3.0	1.0	720	$999	$1.39	45d	1	0.17mi
1709 Huey St South Bend, IN	2.0	1.0	720	$995	$1.38	22d	1	0.45mi
1614 Fremont St South Bend, IN	2.0	1.0	720	$850	$1.18	22d	1	0.45mi
1308 Kinyon St South Bend, IN	2.0	1.0	700	$1,100	$1.57	45d	1	0.54mi
717 Huey St South Bend, IN	2.0	1.0	672	$1,050	$1.56	45d	1	0.56mi
729 N Elmer St South Bend, IN	2.0	1.0	672	$1,100	$1.64	14d	1	0.58mi
2823 Calhoun St South Bend, IN	2.0	1.0	720	$1,249	$1.73	45d	1	0.60mi
937 Roosevelt St South Bend, IN	2.0	1.0	720	$1,060	$1.47	45d	1	0.87mi
3224 Ardmore Trl South Bend, IN	1.0	1.0	675	$864	$1.28	14d	2	0.89mi
929 Beale St South Bend, IN	2.0	1.0	720	$975	$1.35	45d	1	0.92mi
1301 N Michigan St South Bend, IN	1.0	1.0	575	$740	$1.29	22d	1	1.39mi

Listing history 21 events

1. 2026-06-18
   days on market $55,000 Active 55 DOM
2. 2026-06-17
   days on market $55,000 Active 54 DOM
3. 2026-06-16
   pricedays on market $55,000 Active 53 DOM
4. 2026-06-15
   days on market $57,500 Active 52 DOM
5. 2026-06-14
   days on market $57,500 Active 50 DOM
6. 2026-06-13
   days on market $57,500 Active 49 DOM
7. 2026-06-10
   days on market $57,500 Active 47 DOM
8. 2026-06-09
   days on market $57,500 Active 46 DOM
9. 2026-06-08
   days on market $57,500 Active 45 DOM
10. 2026-06-07
    days on market $57,500 Active 44 DOM
11. 2026-06-03
    days on market $57,500 Active 40 DOM
12. 2026-06-02
    days on market $57,500 Active 39 DOM
13. 2026-06-01
    days on market $57,500 Active 38 DOM
14. 2026-05-31
    days on market $57,500 Active 37 DOM
15. 2026-05-30
    days on market $57,500 Active 36 DOM
16. 2026-05-07
    price $60,000 121-char remark
17. 2026-04-24
    listed $62,500 Active 121-char remark
18. 2026-04-24
    listed $62,500 Active
19. 2017-07-31
    listed $19,900
20. 2016-10-14
    soldstatus $10,000
21. 2016-06-17
    listed $17,000

ⓘ 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: $902 · $75/mo
• Projected year-2 tax: $902 · $75/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 ≥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: $12,666
• − Mortgage interest: −$3,081
• − Property taxes: −$902
• − Insurance: −$275
• − Repairs & maintenance: −$1,013
• − Management: −$1,013
• − Depreciation: −$1,600
• Taxable income: $4,782
• Est. tax owed @ 24.0%: −$1,148
• After-tax cash flow: $4,221/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

+223.5% since first listed

8 events — show timeline

• 2026-06-16 Price Changed $55,000 IRMLS
• 2026-05-28 Price Changed $57,500 IRMLS
• 2026-05-07 Price Changed $60,000 IRMLS
• 2026-04-24 Listed $62,500 IRMLS
• 2026-04-24 Listed $62,500 IRMLS
• 2017-07-31 Listed $19,900 IRMLS
• 2016-10-14 Sold (MLS) $10,000 IRMLS
• 2016-06-17 Listed $17,000 IRMLS

Property tax history

-5.8%/yr

Latest (2025): $902 · -1.9% YoY. Source: county tax records.