2226 Beverly Pl · South Bend, IN 46616

$165,000

3 bd · 1.0 ba · 1,440 sqft · SingleFamily public records · 6 Days on market

Built 1945 5,227 sqft lot $115/sqft · 12% above area Est $175k · 6% under

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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 +20.2/30.0
• ARV discount +10.2/15.0
• DSCR +6.4/10.0
• 1% rule +4.7/10.0
• Rent growth +4.1/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Check out this 2 bed, 1 bath home that would make a great starter home or investment opportunity; it even comes with all new windows, newer mechanicals, and updated electrical and plumbing! This home is located close to the St. Joe River and nearby parks, and is a quick drive to shopping, restaurants, Notre Dame, and the toll road. The front deck is welcoming and perfect for spending time outdoors this summer. Out back is a nice yard space and a detached garage. The basement is partially finished for additional living space and also provides great storage. Schedule your showing today!

Key facts

• Updated electrical
• Nice yard space
• New windows

Tags

• NEW WINDOWS
• UPDATED ELECTRICAL
• UPDATED PLUMBING
• DETACHED GARAGE
• PARTIALLY FINISHED BASEMENT
• NICE YARD SPACE

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); One story
• Construction: Vinyl siding
• Exterior features: Level lot; Lot dimensions approximately 44 x 118; Lot size about 0.12 acre

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Gas Range
• Bedrooms: Total of 8 rooms (bedroom count not specified)
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Dishwasher; Microwave; Refrigerator; Gas Range; Partially finished full basement
• Laundry & utility: Washer; Dryer; Laundry located in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $207 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $159k (3.3% below list).
• Recommended offer: $159k (3.3% below list) — sets the bar for 1% rule.
• Cap rate 7.8% 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); Adams High School (math 28% / reading 57%, grade F, #195 of 369 statewide, top 53%, 1,976 students, 56% FRL).
• Market conditions: Rents rising fast (+6.5%/yr); 42 active listings in the ZIP; 23 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).
• This rent runs 33% of the median local income ($59k/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 $5k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 6.5% rent growth), your $46k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $159,496 (3.3% below list)

Questions for the listing agent

1. Built in 1945 — 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: 0.97% ✗
• Cap rate: 7.80%
• Cash-on-cash: 5.39%
• DSCR: 1.24
• GRM: 8.6

CMA / ARV

• ARV (median comp): $175,445
• List price: $165,000
• Delta: -5.95%
• 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
2229 Inglewood Pl	0.03mi	3/2.0	1,476 (+2%)	7mo	$170,000	$115	84
2221 Portage Ave	0.18mi	2/1.5 (-1)	1,414 (-2%)	1mo	$215,000	$152	81
2106 Hollywood Pl	0.27mi	3/1.0	1,471 (+2%)	6mo	$155,000	$105	79
2111 Inglewood Pl	0.21mi	3/1.5	1,524 (+6%)	2mo	$170,500	$112	76
1910 Bergan St	0.31mi	3/1.0	1,315 (-9%)	7mo	$125,000	$95	66
2410 Hollywood Pl	0.18mi	3/1.0	1,592 (+11%)	13mo	$149,500	$94	63
1726 N Brookfield St	0.66mi	3/1.0	1,440 (0%)	10mo	$115,000	$80	61
2033 Beverly Pl	0.24mi	3/1.5	1,584 (+10%)	13mo	$132,000	$83	59
2427 Hollywood Pl	0.20mi	3/1.0	1,248 (-13%)	11mo	$175,000	$140	59
1742 Johnson St	0.65mi	4/1.0 (+1)	1,440 (0%)	12mo	$139,900	$97	54
1821 Marquette Blvd	0.58mi	3/1.5	1,584 (+10%)	6mo	$135,000	$85	49
1905 Inglewood Pl	0.46mi	4/2.0 (+1)	1,554 (+8%)	10mo	$201,000	$129	48

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 · 6.49% rent growth · sell at horizon

5-year hold

• IRR: -4.3%
• Equity multiple: 0.83×
• Total profit: $-7,756
• Equity at exit: $24,602

10-year hold

• IRR: 8.8%
• Equity multiple: 1.77×
• Total profit: $35,699
• Equity at exit: $14,266

Cash invested: $46,200 (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 46616

• Home prices YoY: -17.9%
• Rents YoY: 6.5%
• Active inventory: 42
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,595 high
• Mortgage (P&I): −$865
• Tax from tax record: −$119 /mo · $1,422/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$335
• Net cashflow: $207

Break-even live

Break-even rent $1,332

Max offer price $165,000

Occupancy floor 82%

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2217 Inglewood Pl South Bend, IN	3.0	1.0	1800	$2,200	$1.22	43d	1	0.07mi
2527 Riverside Dr South Bend, IN	3.0	1.5	1048	$1,595	$1.52	21d	1	0.30mi
1918 Johnson St South Bend, IN	3.0	1.0	1200	$1,200	$1.00	13d	1	0.48mi
1710 Johnson St South Bend, IN	3.0	1.0	1000	$1,350	$1.35	43d	1	0.74mi
1642 Johnson St South Bend, IN	3.0	1.0	1375	$1,400	$1.02	13d	1	0.80mi
1630 Obrien St South Bend, IN	3.0	1.0	1120	$1,400	$1.25	13d	1	0.85mi
1214 Queen St South Bend, IN	3.0	1.0	1056	$1,300	$1.23	13d	1	0.88mi
1505 N Adams St South Bend, IN	3.0	1.0	1200	$1,350	$1.12	13d	1	0.90mi
1428 Kessler Blvd South Bend, IN	3.0	1.0	936	$1,000	$1.07	43d	1	0.95mi
1314 Johnson St South Bend, IN	2.0	1.0	902	$1,150	$1.27	13d	1	1.11mi
1237 Wilber St South Bend, IN	2.0	1.0	880	$1,200	$1.36	43d	1	1.11mi
1243 Portage Ave South Bend, IN	3.0	1.0	1570	$1,500	$0.96	43d	1	1.18mi
1210 Johnson St South Bend, IN	3.0	2.0	1568	$1,250	$0.80	21d	1	1.19mi
1206 Johnson St South Bend, IN	3.0	1.5	1320	$1,400	$1.06	43d	1	1.20mi
1201 Woodward Ave South Bend, IN	2.0	1.0	960	$1,675	$1.74	43d	1	1.27mi
1054 Huey St South Bend, IN	4.0	2.0	1288	$1,550	$1.20	13d	1	1.35mi
1032 Allen St South Bend, IN	3.0	2.0	1580	$1,200	$0.76	43d	1	1.38mi
1046 N Elmer St South Bend, IN	2.0	1.0	1050	$1,025	$0.98	21d	1	1.38mi
1008 O Brien St Unit O South Bend, IN	3.0	1.0	1634	$800	$0.49	21d	1	1.43mi
2205 Lincoln Way W South Bend, IN	4.0	2.0	1440	$1,565	$1.09	13d	1	1.44mi
344 Parkovash Ave South Bend, IN	3.0	1.0	950	$1,900	$2.00	13d	1	1.47mi
910 Allen St South Bend, IN	3.0	1.0	1100	$1,350	$1.23	21d	1	1.49mi
2010 Lincoln Way W Unit 2 South Bend, IN	3.0	1.0	1150	$1,325	$1.15	21d	1	1.50mi

Listing history 2 events

1. 2026-05-13
   status Pending 591-char remark
2. 2026-05-07
   listed $165,000 Active 591-char remark

ⓘ 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: $1,422 · $119/mo
• Projected year-2 tax: $1,422 · $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 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: $19,140
• − Mortgage interest: −$9,243
• − Property taxes: −$1,422
• − Insurance: −$825
• − Repairs & maintenance: −$1,531
• − Management: −$1,531
• − Depreciation: −$4,800
• Taxable loss: −$213
• Est. tax savings @ 24.0%: +$51
• After-tax cash flow: $2,541/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): 5,979
• Household income: $58,537
• Rent vs Own: 42.6% rent · 57.4% own
• Severe rent burden: 339.0

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 0.59)
• Race & ethnicity: White 59% Black 21% Hispanic / Latino 16% Two or more races 14% Asian 1%
• Hispanic origin (detail): Mexican 9% Puerto Rican 2%
• Common ancestry: Romanian 7% Portuguese 2% Slovak 2%
• Foreign-born: 5% · Canada, China
• Languages at home: 90% English-only · Spanish 7% 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: ▼ -51.53%
• Current HPI: 237.0154
• Rent YoY: ▲ 6.49%
• 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

+2.1% since first listed

3 events — show timeline

• 2026-06-12 Sold (MLS) $168,500 IRMLS
• 2026-05-13 Pending — IRMLS
• 2026-05-07 Listed $165,000 IRMLS

Property tax history

+23.6%/yr

Latest (2025): $1,422 · -11.8% YoY. Source: county tax records.