530 W 5th St · Mishawaka, IN 46544

$75,750

3 bd · 1.0 ba · 1,127 sqft · SingleFamily public records · 286 Days on market

Built 1890 5,227 sqft lot $67/sqft · 52% below area ↓ 16% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.8/5.0
• Livability +3.8/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

* Seller financing available * This 3-bedroom, 1-bath home is perfectly located just minutes from downtown Mishawaka, offering excellent potential for investors. Whether you’re looking to renovate and flip, or add to your rental portfolio, this property has great upside. The home sits on a nice lot. With easy access to local shops, dining, schools, and major employers. With a little vision and updates, this house could be a strong income-producing property or a great long-term hold. See agent remarks.

Key facts

• 5,227 sq ft lot
• Built 1890
• Listed 286 days

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $76k.

Deal economics

• At list price, monthly cash flow is $609 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $76k).
• Recommended offer: $67k (12.0% below list) — sets the bar for market timing.
• Cap rate 15.9% 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 (+9.1%/yr); 140 active listings in the ZIP; 18 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $524 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $21k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 286 days — a 12% lower offer ($67k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $14k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $66,660 (12.0% below list)

Questions for the listing agent

1. It's been on market 286 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.83% ✓
• Cap rate: 15.93%
• Cash-on-cash: 34.44%
• DSCR: 2.53
• GRM: 4.6

CMA / ARV

• ARV (median comp): $158,975
• List price: $75,750
• Delta: -52.35%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
553 W 6th St	0.07mi	3/1.5	1,028 (-9%)	10mo	$143,900	$140	72
615 W 3rd St	0.19mi	3/1.5	1,223 (+8%)	8mo	$168,000	$137	69
314 Harrison St	0.39mi	3/1.0	1,064 (-6%)	6mo	$164,525	$155	67
1004 W 6th St	0.29mi	3/1.5	1,266 (+12%)	1mo	$106,000	$84	63
215 Smith St	0.26mi	3/1.0	1,292 (+15%)	1mo	$199,500	$154	63
329 W 9th St	0.27mi	3/1.0	960 (-15%)	1mo	$195,000	$203	62
427 W 14th St	0.54mi	2/1.0 (-1)	1,144 (+2%)	7mo	$167,500	$146	62
232 E 7th St	0.49mi	3/1.0	1,250 (+11%)	3mo	$164,300	$131	56
115 E 11th St	0.52mi	2/1.0 (-1)	1,248 (+11%)	0mo	$145,000	$116	53
3506 Pleasant St	0.68mi	2/1.0 (-1)	1,008 (-11%)	1mo	$149,000	$148	45
909 Jackson St	0.68mi	3/1.5	1,018 (-10%)	8mo	$155,000	$152	44
423 W 14th St	0.54mi	2/1.0 (-1)	990 (-12%)	8mo	$180,000	$182	43

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 35.3%
• Equity multiple: 2.59×
• Total profit: $33,808
• Equity at exit: $11,295

10-year hold

• IRR: 44.5%
• Equity multiple: 6.31×
• Total profit: $112,663
• Equity at exit: $6,549

Cash invested: $21,210 (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 46544

• Rents YoY: 9.1%
• Active inventory: 140
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $1,385 high
• Mortgage (P&I): −$397
• Tax from tax record: −$57 /mo · $682/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$291
• Net cashflow: $609

Break-even live

Break-even rent $615

Max offer price $75,750

Occupancy floor 51%

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: $18,938
• Closing costs: $2,272
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
516 W 3rd St #6 Mishawaka, IN	2.0	1.0	700	$800	$1.14	13d	1	0.16mi
722 S Spring St Apt 3 Mishawaka, IN	2.0	1.0	800	$1,200	$1.50	13d	1	0.32mi
365 W Front St Mishawaka, IN	2.0	1.0–2.0	825	$3,050	$3.70	13d	1	0.37mi
211 Columbia St Mishawaka, IN	4.0	2.5	1500	$1,795	$1.20	21d	1	0.46mi
3530 Northside Blvd South Bend, IN	1.0–2.0	1.0	850	$1,200	$1.41	13d	1	0.58mi
116 W Mishawaka Ave Mishawaka, IN	3.0	1.0–2.0	948	$2,321	$2.45	13d	31	0.64mi
1006 S 35th St South Bend, IN	3.0	2.0	816	$1,000	$1.23	13d	1	0.74mi
232 E Grove St Mishawaka, IN	3.0	1.0	1188	$1,500	$1.26	13d	1	0.78mi
642 E 11th St Mishawaka, IN	3.0	1.0	1248	$1,295	$1.04	21d	1	0.87mi
703 E 12th St Unit D Mishawaka, IN	2.0	1.0	850	$1,395	$1.64	13d	1	0.95mi
703 E 12th St Unit A Mishawaka, IN	2.0	1.0	900	$1,295	$1.44	43d	1	0.95mi
737 S 30th St South Bend, IN	3.0	2.0	1000	$1,600	$1.60	43d	1	1.19mi
1218 S 26th St South Bend, IN	3.0	1.0	856	$1,400	$1.64	13d	1	1.22mi
209 E Edgar Ave Mishawaka, IN	3.0	1.0	1400	$1,400	$1.00	13d	1	1.26mi
526 S 28th St South Bend, IN	2.0	1.0	1000	$1,350	$1.35	13d	1	1.39mi
3001 E Jefferson Blvd South Bend, IN	1.0–2.0	1.0–2.0	848	$1,329	$1.57	13d	21	1.41mi
2804 Delaware St Mishawaka, IN	2.0	1.0	720	$1,200	$1.67	13d	1	1.48mi
819 S 24th St South Bend, IN	3.0	2.0	1480	$1,795	$1.21	43d	1	1.49mi

Listing history 20 events

1. 2026-06-18
   days on market $75,750 Active 286 DOM
2. 2026-06-17
   days on market $75,750 Active 285 DOM
3. 2026-06-16
   days on market $75,750 Active 284 DOM
4. 2026-06-15
   days on market $75,750 Active 283 DOM
5. 2026-06-14
   days on market $75,750 Active 281 DOM
6. 2026-06-13
   days on market $75,750 Active 280 DOM
7. 2026-06-10
   days on market $75,750 Active 278 DOM
8. 2026-06-09
   days on market $75,750 Active 277 DOM
9. 2026-06-08
   days on market $75,750 Active 276 DOM
10. 2026-06-07
    days on market $75,750 Active 275 DOM
11. 2026-06-02
    days on market $75,750 Active 270 DOM
12. 2026-06-01
    days on market $75,750 Active 269 DOM
13. 2026-05-31
    days on market $75,750 Active 268 DOM
14. 2026-05-30
    days on market $75,750 Active 267 DOM
15. 2026-05-12
    status Active 513-char remark

    Show marketing remark (513 chars)

    * Seller financing available * This 3-bedroom, 1-bath home is perfectly located just minutes from downtown Mishawaka, offering excellent potential for investors. Whether you’re looking to renovate and flip, or add to your rental portfolio, this property has great upside. The home sits on a nice lot. With easy access to local shops, dining, schools, and major employers. With a little vision and updates, this house could be a strong income-producing property or a great long-term hold. See agent remarks.

16. 2026-03-18
    price $75,750 513-char remark

    Show marketing remark (513 chars)

    * Seller financing available * This 3-bedroom, 1-bath home is perfectly located just minutes from downtown Mishawaka, offering excellent potential for investors. Whether you’re looking to renovate and flip, or add to your rental portfolio, this property has great upside. The home sits on a nice lot. With easy access to local shops, dining, schools, and major employers. With a little vision and updates, this house could be a strong income-producing property or a great long-term hold. See agent remarks.

17. 2026-03-06
    status Active 513-char remark

    Show marketing remark (513 chars)

    * Seller financing available * This 3-bedroom, 1-bath home is perfectly located just minutes from downtown Mishawaka, offering excellent potential for investors. Whether you’re looking to renovate and flip, or add to your rental portfolio, this property has great upside. The home sits on a nice lot. With easy access to local shops, dining, schools, and major employers. With a little vision and updates, this house could be a strong income-producing property or a great long-term hold. See agent remarks.

18. 2026-02-13
    price $80,750 513-char remark

    Show marketing remark (513 chars)

    * Seller financing available * This 3-bedroom, 1-bath home is perfectly located just minutes from downtown Mishawaka, offering excellent potential for investors. Whether you’re looking to renovate and flip, or add to your rental portfolio, this property has great upside. The home sits on a nice lot. With easy access to local shops, dining, schools, and major employers. With a little vision and updates, this house could be a strong income-producing property or a great long-term hold. See agent remarks.

19. 2026-01-25
    price $85,000 513-char remark

    Show marketing remark (513 chars)

    * Seller financing available * This 3-bedroom, 1-bath home is perfectly located just minutes from downtown Mishawaka, offering excellent potential for investors. Whether you’re looking to renovate and flip, or add to your rental portfolio, this property has great upside. The home sits on a nice lot. With easy access to local shops, dining, schools, and major employers. With a little vision and updates, this house could be a strong income-producing property or a great long-term hold. See agent remarks.

20. 2025-09-05
    listed $90,000 Active 513-char remark

    Show marketing remark (513 chars)

    * Seller financing available * This 3-bedroom, 1-bath home is perfectly located just minutes from downtown Mishawaka, offering excellent potential for investors. Whether you’re looking to renovate and flip, or add to your rental portfolio, this property has great upside. The home sits on a nice lot. With easy access to local shops, dining, schools, and major employers. With a little vision and updates, this house could be a strong income-producing property or a great long-term hold. See agent remarks.

ⓘ 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: $682 · $57/mo
• Projected year-2 tax: $682 · $57/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 4/10 Moderate FEMA zone X (unshaded) · 22% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥99°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: $16,622
• − Mortgage interest: −$4,243
• − Property taxes: −$682
• − Insurance: −$379
• − Repairs & maintenance: −$1,330
• − Management: −$1,330
• − Depreciation: −$2,204
• Taxable income: $6,455
• Est. tax owed @ 24.0%: −$1,549
• After-tax cash flow: $5,755/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): 31,077
• Household income: $58,829
• Rent vs Own: 36.3% rent · 63.7% own
• Severe rent burden: 685.0

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 (79%)
• Race & ethnicity: White 79% Black 9% Two or more races 7% Hispanic / Latino 6% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Romanian 7% English 3% Lithuanian 2%
• Foreign-born: 4% · Canada, Vietnam
• Languages at home: 94% English-only · Spanish 3%

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: ▼ -116.74%
• Current HPI: 188.9996
• Rent YoY: ▲ 9.10%
• 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

-15.8% since first listed

6 events — show timeline

• 2026-05-12 Relisted — IRMLS
• 2026-03-18 Price Changed $75,750 IRMLS
• 2026-03-06 Relisted — IRMLS
• 2026-02-13 Price Changed $80,750 IRMLS
• 2026-01-25 Price Changed $85,000 IRMLS
• 2025-09-05 Listed $90,000 IRMLS

Property tax history

+0.1%/yr

Latest (2023): $682 · -66.2% YoY. Source: county tax records.