55305 Woodland Ave · Ardmore, IN 46628

$159,900

3 bd · 1.5 ba · 864 sqft · SingleFamily public records · 52 Days on market

Built 2007 0.49 ac lot $185/sqft · 93% above area Est $152k · 5% over

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Why this score? — see what drove the F 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 +9.7/30.0
• ARV discount +5.1/15.0
• Rent growth +4.2/5.0
• DSCR +2.7/10.0
• 1% rule +2.6/10.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don’t miss this updated 4 bedroom and 2 full bathroom home on a spacious lot. This home features a large eat-in kitchen with new cabinets/countertops/appliances, main floor laundry, new flooring throughout the house, and lots of space for entertaining. Enclosed porch and deck in front of the home. This home won’t last long, so call for a showing today!

Key facts

• 0.49 acre lot
• Built 2007
• Listed 52 days

Property features AI

Exterior

• Utilities: Private well water; Septic tank
• Home design: Single-family, site-built home; Single-story
• Construction: Aluminum siding; Brick/mortar foundation; Built as a site-built residence
• Exterior features: Enclosed porch; Deck; Corner lot

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Gas oven; Eat-in kitchen
• Bedrooms: Master bedroom located on the main level
• Flooring: Laminate flooring
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Central air; Ceiling fans; Natural gas forced air heating
• Interior features: Eat-in kitchen; Laminate counters; Master suite on the main level; Blinds; Partial, unfinished basement
• Laundry & utility: Washer and dryer included; Laundry on the main level; Water softener (owned); Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $-105 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $141k (11.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (24.4% below list).
• Recommended offer: $121k (24.4% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade F — affects rentability + tenant quality, not the cash-flow math above.
• 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: Coquillard Elementary School (math 2% / reading 2%, grade F, #989 of 994 statewide, top 100%, 343 students, 89% 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 85% FRL vs 66% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.8%/yr); 429 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 46% 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 $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 52 days — a 3% lower offer ($155k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $105k; list at $160k implies a 52% gain — meaningful room to come down on a strong offer.

Recommended offer $120,959 (24.4% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 52 days. Have you received any prior offers? Is the seller open to a 24% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.76% ✗
• Cap rate: 5.50%
• Cash-on-cash: -2.81%
• DSCR: 0.87
• GRM: 11.0

CMA / ARV

• ARV (median comp): $151,745
• List price: $159,900
• Delta: 5.37%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
55219 Lexington Ave	0.26mi	2/1.0 (-1)	880 (+2%)	0mo	$82,750,000	$94,034	78
1339 Canterbury Dr	0.25mi	3/1.0	864 (0%)	11mo	$180,000	$208	77
932 Sussex Dr	0.18mi	3/1.0	900 (+4%)	13mo	$160,500	$178	72
55453 Grandview Ave	0.20mi	2/1.0 (-1)	864 (0%)	20mo	$99,000	$115	66
1413 N Wellington St	0.54mi	3/1.0	924 (+7%)	0mo	$170,000	$184	61
3615 Elwood Ave	0.51mi	3/1.0	864 (0%)	19mo	$152,500	$177	58
3929 W Lincoln Way	0.41mi	2/1.0 (-1)	775 (-10%)	4mo	$82,000	$106	53
1117 N Iowa St	0.63mi	2/1.0 (-1)	864 (0%)	24mo	$110,000	$127	44
3815 Ardmore Trl	0.35mi	2/1.0 (-1)	962 (+11%)	18mo	$128,008	$133	43
1130 N Kentucky St	0.72mi	2/1.0 (-1)	816 (-6%)	12mo	$85,000	$104	41

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: -17.0%
• Equity multiple: 0.38×
• Total profit: $-27,833
• Equity at exit: $23,842

10-year hold

• IRR: -3.4%
• Equity multiple: 0.74×
• Total profit: $-11,703
• Equity at exit: $13,825

Cash invested: $44,772 (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: 429
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,210 high
• Mortgage (P&I): −$839
• Tax from tax record: −$155 /mo · $1,865/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $-105

Break-even live

Break-even rent $1,343

Max offer price $141,350

Occupancy floor —

Sensitivity live

Price	-10% $-14	-5% $-60	+0% $-105	+5% $-150	+10% $-196
Rent	-10% $-201	-5% $-153	+0% $-105	+5% $-57	+10% $-9
Rate	-1.0pp $-24	-0.5pp $-64	base $-105	+0.5pp $-146	+1.0pp $-189

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
202 N Chicago St South Bend, IN	2.0	1.0	720	$1,055	$1.47	45d	1	0.88mi
2823 Calhoun St South Bend, IN	2.0	1.0	720	$1,249	$1.73	45d	1	0.98mi
4510 W Washington St South Bend, IN	2.0	1.0	720	$1,039	$1.44	45d	1	1.05mi
1141 Fremont St South Bend, IN	3.0	1.0	760	$1,100	$1.45	23d	1	1.19mi
1614 Fremont St South Bend, IN	2.0	1.0	720	$850	$1.18	23d	1	1.30mi
1046 N Elmer St South Bend, IN	2.0	1.0	1050	$1,025	$0.98	23d	1	1.33mi
729 N Elmer St South Bend, IN	2.0	1.0	672	$1,100	$1.64	15d	1	1.35mi
421 S Lake St South Bend, IN	2.0	1.0	900	$1,200	$1.33	45d	1	1.37mi
2417 Linden Ave South Bend, IN	2.0	1.0	1000	$1,200	$1.20	45d	1	1.38mi
717 Huey St South Bend, IN	2.0	1.0	672	$1,050	$1.56	45d	1	1.41mi
1505 Huey St South Bend, IN	3.0	1.0	864	$1,425	$1.65	23d	1	1.42mi
208 S Bendix Dr South Bend, IN	3.0	1.0	864	$1,150	$1.33	23d	1	1.45mi
1709 Huey St South Bend, IN	2.0	1.0	720	$995	$1.38	23d	1	1.49mi

Listing history 21 events

1. 2026-06-22
   days on market $159,900 Active 52 DOM
2. 2026-06-18
   days on market $159,900 Active 49 DOM
3. 2026-06-17
   days on market $159,900 Active 48 DOM
4. 2026-06-16
   days on market $159,900 Active 47 DOM
5. 2026-06-15
   days on market $159,900 Active 46 DOM
6. 2026-06-14
   days on market $159,900 Active 44 DOM
7. 2026-06-13
   days on market $159,900 Active 43 DOM
8. 2026-06-10
   days on market $159,900 Active 41 DOM
9. 2026-06-09
   days on market $159,900 Active 40 DOM
10. 2026-06-08
    days on market $159,900 Active 39 DOM
11. 2026-06-07
    days on market $159,900 Active 38 DOM
12. 2026-06-03
    days on market $159,900 Active 34 DOM
13. 2026-06-02
    days on market $159,900 Active 33 DOM
14. 2026-06-01
    days on market $159,900 Active 32 DOM
15. 2026-05-31
    days on market $159,900 Active 31 DOM
16. 2026-05-30
    days on market $159,900 Active 30 DOM
17. 2026-04-30
    listed $159,900 Active 787-char remark
18. 2018-11-09
    soldstatus $105,000 366-char remark

    Show marketing remark (366 chars)

    Don’t miss this updated 4 bedroom and 2 full bathroom home on a spacious lot. This home features a large eat-in kitchen with new cabinets/countertops/appliances, main floor laundry, new flooring throughout the house, and lots of space for entertaining. Enclosed porch and deck in front of the home. This home won’t last long, so call for a showing today!

19. 2018-07-20
    listed $103,000 366-char remark

    Show marketing remark (366 chars)

    Don’t miss this updated 4 bedroom and 2 full bathroom home on a spacious lot. This home features a large eat-in kitchen with new cabinets/countertops/appliances, main floor laundry, new flooring throughout the house, and lots of space for entertaining. Enclosed porch and deck in front of the home. This home won’t last long, so call for a showing today!

20. 2018-02-06
    soldstatus $24,800

    Show marketing remark (254 chars)

    Take a look at this 3 bedroom 2 bathroom home located on the cities west side within seconds to the South Bend International Airport. With some love and imagination this could be just the home you've been waiting for. Call today to schedule your showing.

21. 2017-12-27
    listed $26,000

    Show marketing remark (254 chars)

    Take a look at this 3 bedroom 2 bathroom home located on the cities west side within seconds to the South Bend International Airport. With some love and imagination this could be just the home you've been waiting for. Call today to schedule your showing.

ⓘ 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: $1,865 · $155/mo
• Projected year-2 tax: $1,865 · $155/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: $14,515
• − Mortgage interest: −$8,957
• − Property taxes: −$1,865
• − Insurance: −$800
• − Repairs & maintenance: −$1,161
• − Management: −$1,161
• − Depreciation: −$4,652
• Taxable loss: −$4,080
• Est. tax savings @ 24.0%: +$979
• After-tax cash flow: $-281/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 — Ardmore

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• Census place: Ardmore, IN
• County: Saint Joseph County · 189,048 people
• 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

+515.0% since first listed

5 events — show timeline

• 2026-04-30 Listed $159,900 IRMLS
• 2018-11-09 Sold (MLS) $105,000 IRMLS
• 2018-07-20 Listed $103,000 IRMLS
• 2018-02-06 Sold (MLS) $24,800 IRMLS
• 2017-12-27 Listed $26,000 IRMLS

Property tax history

+6.3%/yr

Latest (2025): $1,865 · -5.8% YoY. Source: county tax records.