52758 Lynnwood Ave · South Bend, IN 46628

$69,900

2 bd · 1.0 ba · 932 sqft · SingleFamily public records · 3 Days on market

Built 1940 0.90 ac lot $75/sqft · 62% below area ↓ 14% 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 +4.2/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Unlock the potential of this vacant South Bend property, set on a generous 400x97 lot with two sheds and no HOA restrictions. With 932 square feet of living space, a slab foundation, and all-electric systems, this home is ready for a full renovation—perfect for investors or buyers looking to add value and customize every detail. All windows need replacement, and the electric service has been off for several years, making this a true blank canvas for your next project. Located in a desirable school district and close to local amenities, this property offers strong upside for those ready to bring it back to life. Seize the chance to transform this unlivable house into a standout rental

Key facts

• Slab foundation
• Generous lot
• No hoa restrictions

Tags

• GENEROUS LOT
• TWO SHEDS
• NO HOA RESTRICTIONS
• SLAB FOUNDATION
• ALL ELECTRIC SYSTEMS
• FULL RENOVATION

Property features AI

Finance

• Financial info: Annual tax amount listed (information provided in listing)

Exterior

• Utilities: Well water; Septic tank sewer
• Home design: Single-story single family home; Site-built residence; Located in the Lilac Acres subdivision
• Construction: Built with asphalt and vinyl siding; Slab foundation
• Exterior features: Level lot; Lot dimensions approximately 400 x 97; Approximately 0.9 acre lot

Interior

• Bedrooms: Bedrooms located on the main level
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Baseboard heating; No cooling system
• Interior features: Total of 4 rooms; Main-level laundry
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $442 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Cap rate 13.9% 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: Lasalle Academy (math 23% / reading 53%, grade F, #136 of 330 statewide, top 44%, 488 students, 56% FRL); Clay High School (math 17% / reading 52%, grade F, #270 of 369 statewide, top 77%, 628 students, 65% FRL).
• Zoned-school proficiency averages 36% at this address vs 16% district-wide (+20 pts) — the actual schools serving this property are materially stronger than the South Bend Community School Corporation average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+6.8%/yr); 424 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $483 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 $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $60k; 16% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 4.3% of price; built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $69,900

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.97% ✓
• Cap rate: 13.88%
• Cash-on-cash: 27.10%
• DSCR: 2.21
• GRM: 4.2

CMA / ARV

• ARV (median comp): $181,709
• List price: $69,900
• Delta: -61.53%
• 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
52758 Lynnwood Ave	0.00mi	2/1.0	932 (0%)	1mo	$60,000	$64	100
1327 Northlea Dr	0.65mi	3/1.0 (+1)	912 (-2%)	4mo	$160,000	$175	57
3912 Greenmont Dr	0.60mi	2/1.0	925 (-1%)	21mo	$160,000	$173	53
3822 Eastmont Dr	0.65mi	3/1.0 (+1)	898 (-4%)	11mo	$201,170	$224	50
1330 Southlea Dr	0.52mi	3/1.0 (+1)	1,008 (+8%)	12mo	$175,000	$174	47
3527 Riverside Dr	0.62mi	3/1.0 (+1)	1,025 (+10%)	3mo	$199,000	$194	47
1318 W Darden Rd	0.67mi	3/1.5 (+1)	1,008 (+8%)	2mo	$112,000	$111	47
4132 Greenglade Ct	0.43mi	3/2.0 (+1)	1,040 (+12%)	8mo	$204,000	$196	45
1310 Northlea Dr	0.70mi	3/1.0 (+1)	904 (-3%)	15mo	$195,000	$216	45
1354 Northlea Dr	0.60mi	3/1.0 (+1)	864 (-7%)	20mo	$200,000	$231	38
1426 Viking Dr	0.54mi	3/2.0 (+1)	1,008 (+8%)	23mo	$151,000	$150	33

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: 26.1%
• Equity multiple: 2.14×
• Total profit: $22,371
• Equity at exit: $10,422

10-year hold

• IRR: 36.3%
• Equity multiple: 5.10×
• Total profit: $80,280
• Equity at exit: $6,044

Cash invested: $19,572 (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: 4.2×

Monthly cashflow live

• Estimated rent: $1,374 medium
• Mortgage (P&I): −$367
• Tax from tax record: −$248 /mo · $2,973/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$289
• Net cashflow: $442

Break-even live

Break-even rent $815

Max offer price $69,900

Occupancy floor 63%

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2701 Appaloosa Ln South Bend, IN	1.0–2.0	1.0–2.0	851	$1,479	$1.74	13d	15	0.41mi
2527 Riverside Dr South Bend, IN	3.0	1.5	1048	$1,595	$1.52	20d	1	1.16mi

Listing history 2 events

1. 2026-05-16
   status Pending 769-char remark
2. 2026-05-13
   listed $69,900 Active 769-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: $2,973 · $248/mo
• Projected year-2 tax: $2,973 · $248/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 6/10 Major FEMA zone X (unshaded) · 69% 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: $16,489
• − Mortgage interest: −$3,915
• − Property taxes: −$2,973
• − Insurance: −$350
• − Repairs & maintenance: −$1,319
• − Management: −$1,319
• − Depreciation: −$2,033
• Taxable income: $4,579
• Est. tax owed @ 24.0%: −$1,099
• After-tax cash flow: $4,206/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

• 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

-14.2% since first listed

3 events — show timeline

• 2026-06-03 Sold (MLS) $60,000 IRMLS
• 2026-05-16 Pending — IRMLS
• 2026-05-13 Listed $69,900 IRMLS

Property tax history

+31.6%/yr

Latest (2025): $2,973 · +2.9% YoY. Source: county tax records.