1526 N Olive St · South Bend, IN 46628

$90,000

3 bd · 1.0 ba · 940 sqft · SingleFamily public records · 60 Days on market

Built 1920 5,227 sqft lot $96/sqft · 36% above area Est $66k · 36% over ↓ 18% since listing

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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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• Rent growth +4.2/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

3-bedroom, 1-bath home full of potential! This fixer-upper is a great opportunity for investors or buyers looking to add their personal touch. With the right vision and updates, this property could truly shine.

Key facts

• 5,227 sq ft lot
• Built 1920
• Listed 59 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $437 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $87k (3.0% below list) — sets the bar for market timing.
• Cap rate 12.1% 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, 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 (+6.8%/yr); 424 active listings in the ZIP; 25 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 44% 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 $622 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 $25k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 60 days — a 3% lower offer ($87k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,300 (3.0% below list)

Questions for the listing agent

1. It's been on market 60 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 1920 — 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: 1.40% ✓
• Cap rate: 12.13%
• Cash-on-cash: 20.83%
• DSCR: 1.93
• GRM: 6.0

CMA / ARV

• ARV (median comp): $66,245
• List price: $90,000
• Delta: 35.86%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1506 N Huey St	0.13mi	2/1.0 (-1)	924 (-2%)	3mo	$70,000	$76	84
1119 College St	0.52mi	3/1.0	960 (+2%)	3mo	$121,000	$126	70
1322 Johnson St	0.32mi	2/2.0 (-1)	912 (-3%)	3mo	$72,500	$79	69
1122 Fremont St	0.40mi	3/1.0	1,008 (+7%)	2mo	$120,000	$119	67
1414 Wilber St	0.51mi	3/1.0	1,020 (+8%)	0mo	$118,000	$116	62
1811 N Brookfield St	0.40mi	2/1.0 (-1)	852 (-9%)	1mo	$89,900	$106	60
1501 N Adams St	0.41mi	2/1.0 (-1)	840 (-11%)	0mo	$134,900	$161	58
1118 N Brookfield St	0.51mi	2/1.0 (-1)	864 (-8%)	1mo	$159,900	$185	57
1622 Wilber St	0.51mi	2/1.0 (-1)	840 (-11%)	3mo	$107,800	$128	51
1233 Wilber St	0.54mi	3/1.0	1,079 (+15%)	0mo	$67,490	$63	50
1133 Wilber St	0.60mi	2/1.0 (-1)	842 (-10%)	3mo	$138,000	$164	47
2702 Prast Blvd	0.68mi	2/1.0 (-1)	804 (-14%)	0mo	$75,000	$93	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: 17.1%
• Equity multiple: 1.72×
• Total profit: $18,212
• Equity at exit: $13,419

10-year hold

• IRR: 28.1%
• Equity multiple: 3.92×
• Total profit: $73,639
• Equity at exit: $7,782

Cash invested: $25,200 (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 46628

• Rents YoY: 6.8%
• Active inventory: 424
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $1,256 high
• Mortgage (P&I): −$472
• Tax from tax record: −$45 /mo · $546/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $437

Break-even live

Break-even rent $702

Max offer price $90,000

Occupancy floor 60%

Sensitivity live

Price	-10% $488	-5% $463	+0% $437	+5% $412	+10% $386
Rent	-10% $338	-5% $388	+0% $437	+5% $487	+10% $537
Rate	-1.0pp $483	-0.5pp $460	base $437	+0.5pp $414	+1.0pp $390

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 25 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1614 Fremont St South Bend, IN	2.0	1.0	720	$850	$1.18	21d	1	0.04mi
1505 Huey St South Bend, IN	3.0	1.0	864	$1,425	$1.65	21d	1	0.14mi
1709 Huey St South Bend, IN	2.0	1.0	720	$995	$1.38	21d	1	0.17mi
1630 Obrien St South Bend, IN	3.0	1.0	1120	$1,400	$1.25	14d	1	0.21mi
2013 Elwood Ave South Bend, IN	3.0	1.0	720	$999	$1.39	44d	1	0.26mi
1710 Johnson St South Bend, IN	3.0	1.0	1000	$1,350	$1.35	44d	1	0.30mi
1314 Johnson St South Bend, IN	2.0	1.0	902	$1,150	$1.27	14d	1	0.37mi
2823 Calhoun St South Bend, IN	2.0	1.0	720	$1,249	$1.73	44d	1	0.38mi
1141 Fremont St South Bend, IN	3.0	1.0	760	$1,100	$1.45	21d	1	0.40mi
1046 N Elmer St South Bend, IN	2.0	1.0	1050	$1,025	$0.98	21d	1	0.49mi
1237 Wilber St South Bend, IN	2.0	1.0	880	$1,200	$1.36	44d	1	0.57mi
1308 Kinyon St South Bend, IN	2.0	1.0	700	$1,100	$1.57	44d	1	0.74mi
729 N Elmer St South Bend, IN	2.0	1.0	672	$1,100	$1.64	14d	1	0.81mi
717 Huey St South Bend, IN	2.0	1.0	672	$1,050	$1.56	44d	1	0.82mi
1214 Queen St South Bend, IN	3.0	1.0	1056	$1,300	$1.23	14d	1	0.82mi
1428 Kessler Blvd South Bend, IN	3.0	1.0	936	$1,000	$1.07	44d	1	0.87mi
1033 Beale St South Bend, IN	3.0	1.0	840	$1,250	$1.49	21d	1	0.97mi
736 Lawndale Ave Unit 1 South Bend, IN	3.0	1.0	1072	$1,200	$1.12	14d	1	1.01mi
937 Roosevelt St South Bend, IN	2.0	1.0	720	$1,060	$1.47	44d	1	1.05mi
1201 Woodward Ave South Bend, IN	2.0	1.0	960	$1,675	$1.74	44d	1	1.05mi
929 Beale St South Bend, IN	2.0	1.0	720	$975	$1.35	44d	1	1.08mi
2417 Linden Ave South Bend, IN	2.0	1.0	1000	$1,200	$1.20	44d	1	1.11mi
910 Allen St South Bend, IN	3.0	1.0	1100	$1,350	$1.23	21d	1	1.11mi
2527 Riverside Dr South Bend, IN	3.0	1.5	1048	$1,595	$1.52	21d	1	1.27mi
344 Parkovash Ave South Bend, IN	3.0	1.0	950	$1,900	$2.00	14d	1	1.49mi

Listing history 5 events

1. 2026-04-27
   price $90,000 210-char remark

   Show marketing remark (210 chars)

   3-bedroom, 1-bath home full of potential! This fixer-upper is a great opportunity for investors or buyers looking to add their personal touch. With the right vision and updates, this property could truly shine.

2. 2026-04-13
   price $95,000 210-char remark

   Show marketing remark (210 chars)

   3-bedroom, 1-bath home full of potential! This fixer-upper is a great opportunity for investors or buyers looking to add their personal touch. With the right vision and updates, this property could truly shine.

3. 2026-04-06
   price $100,000 210-char remark

   Show marketing remark (210 chars)

   3-bedroom, 1-bath home full of potential! This fixer-upper is a great opportunity for investors or buyers looking to add their personal touch. With the right vision and updates, this property could truly shine.

4. 2026-03-30
   price $105,000 210-char remark

   Show marketing remark (210 chars)

   3-bedroom, 1-bath home full of potential! This fixer-upper is a great opportunity for investors or buyers looking to add their personal touch. With the right vision and updates, this property could truly shine.

5. 2026-03-27
   listed $110,000 Active 210-char remark

   Show marketing remark (210 chars)

   3-bedroom, 1-bath home full of potential! This fixer-upper is a great opportunity for investors or buyers looking to add their personal touch. With the right vision and updates, this property could truly shine.

ⓘ 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: $546 · $45/mo
• Projected year-2 tax: $655 · $55/mo
• Expected delta: +$110/yr (+$9/mo · 20.1%)

ⓘ 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: $15,074
• − Mortgage interest: −$5,041
• − Property taxes: −$546
• − Insurance: −$450
• − Repairs & maintenance: −$1,206
• − Management: −$1,206
• − Depreciation: −$2,618
• Taxable income: $4,007
• Est. tax owed @ 24.0%: −$962
• After-tax cash flow: $4,287/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

-18.2% since first listed

5 events — show timeline

• 2026-04-27 Price Changed $90,000 IRMLS
• 2026-04-13 Price Changed $95,000 IRMLS
• 2026-04-06 Price Changed $100,000 IRMLS
• 2026-03-30 Price Changed $105,000 IRMLS
• 2026-03-27 Listed $110,000 IRMLS

Property tax history

-10.3%/yr

Latest (2023): $546 · -3.8% YoY. Source: county tax records.