50632 Kenilworth Rd · South Bend, IN 46637

$174,900

2 bd · 1.0 ba · 960 sqft · SingleFamily public records · 6 Days on market

Built 1951 9,601 sqft lot Est $157k · 11% 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 +10.5/30.0
• Livability +3.2/5.0
• DSCR +3.0/10.0
• ARV discount +2.5/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Multiple offers received calling for highest and best by 05/17/2023 at 4pm. Back on the market. Now accepting FHA buyers. Stainless steel appliances have been installed in the kitchen. Look at this beauty! Please come and see this MOVE IN ready 3 bedroom 1 bathroom ranch freashly painted and remolded. This property has a ton of potential located in Clay township, in a quite area. Please see agent remarks.

Key facts

• New bath
• New plumbing
• Fresh paint

Tags

• NEW GAS FURNACE
• NEW CENTRAL AIR UNIT
• NEW PLUMBING
• NEW FLOORING
• FRESH PAINT
• NEW BATH

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Private well water; Septic tank
• Home design: Single-family residence (site-built); One story
• Construction: Vinyl siding
• Exterior features: Patio; Chain link fencing; Level lot

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Total of 5 rooms (bedrooms count not separately specified)
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas heating with forced air; Central air conditioning
• Interior features: Refrigerator; Gas range; Gas water heater; Water heater
• 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 $175k.

Deal economics

• At list price, monthly cash flow is $-89 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $159k (9.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (28.7% below list).
• Recommended offer: $125k (28.7% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 4.4% in South Bend — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Jefferson Traditional School (math 12% / reading 22%, grade F, #284 of 330 statewide, top 87%, 516 students, 64% FRL); Adams High School (math 28% / reading 57%, grade F, #195 of 369 statewide, top 53%, 1,976 students, 56% FRL).
• Zoned-school proficiency averages 30% at this address vs 16% district-wide (+13 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: 112 active listings in the ZIP; 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

• Only 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 10 sale attempts since 4y 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 $131k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $124,763 (28.7% 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. Built in 1951 — 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. 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?
7. 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.
8. 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.
9. 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: 0.71% ✗
• Cap rate: 5.68%
• Cash-on-cash: -2.18%
• DSCR: 0.90
• GRM: 11.7

CMA / ARV

• ARV (on-the-fly): $157,440
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
19801 Greenacre St	0.31mi	2/1.0	984 (+2%)	2mo	$175,000	$178	80
1109 State Line Rd	0.38mi	2/1.0	990 (+3%)	2mo	$180,000	$182	75
19624 Palisade Ave	0.46mi	3/1.0 (+1)	990 (+3%)	4mo	$189,900	$192	65
3152 S 3rd St	0.32mi	2/1.0	954 (-1%)	24mo	$155,000	$162	64
19956 Elizabeth St	0.03mi	2/1.0	840 (-12%)	22mo	$84,500	$101	60
19959 Kelley St	0.28mi	2/1.0	1,086 (+13%)	9mo	$112,000	$103	58
50745 Bristol St	0.33mi	2/1.0	1,093 (+14%)	14mo	$187,000	$171	50
19602 Greenacre St	0.45mi	3/1.0 (+1)	1,080 (+12%)	5mo	$169,900	$157	49
19532 Palisade Ave	0.58mi	2/1.0	912 (-5%)	22mo	$95,000	$104	46
50630 Bristol St	0.35mi	3/1.0 (+1)	1,098 (+14%)	17mo	$179,900	$164	40
236 Sorin St	0.58mi	3/1.0 (+1)	1,024 (+7%)	21mo	$176,000	$172	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -20.0%
• Equity multiple: 0.30×
• Total profit: $-34,064
• Equity at exit: $26,078

10-year hold

• IRR: -13.0%
• Equity multiple: 0.24×
• Total profit: $-37,209
• Equity at exit: $15,122

Cash invested: $48,972 (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 46637

• Active inventory: 112
• Price-to-rent: 11.7×

Monthly cashflow live

• Estimated rent: $1,248 medium
• Mortgage (P&I): −$917
• Tax from tax record: −$84 /mo · $1,013/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $-89

Break-even live

Break-even rent $1,360

Max offer price $159,203

Occupancy floor —

Sensitivity live

Price	-10% $10	-5% $-39	+0% $-89	+5% $-138	+10% $-188
Rent	-10% $-187	-5% $-138	+0% $-89	+5% $-40	+10% $10
Rate	-1.0pp $-1	-0.5pp $-44	base $-89	+0.5pp $-134	+1.0pp $-180

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: $43,725
• Closing costs: $5,247
• Reserves months: —
• Total cash needed: —

Listing history 28 events

1. 2026-05-20
   listed $174,900 Active
2. 2025-07-15
   status Pending
3. 2025-07-15
   listed $60,000 Active
4. 2023-08-10
   soldstatus $131,000 Closed 408-char remark

   Show marketing remark (408 chars)

   Multiple offers received calling for highest and best by 05/17/2023 at 4pm. Back on the market. Now accepting FHA buyers. Stainless steel appliances have been installed in the kitchen. Look at this beauty! Please come and see this MOVE IN ready 3 bedroom 1 bathroom ranch freashly painted and remolded. This property has a ton of potential located in Clay township, in a quite area. Please see agent remarks.

5. 2023-05-18
   status Pending 408-char remark

   Show marketing remark (408 chars)

   Multiple offers received calling for highest and best by 05/17/2023 at 4pm. Back on the market. Now accepting FHA buyers. Stainless steel appliances have been installed in the kitchen. Look at this beauty! Please come and see this MOVE IN ready 3 bedroom 1 bathroom ranch freashly painted and remolded. This property has a ton of potential located in Clay township, in a quite area. Please see agent remarks.

6. 2023-05-17
   historical Active Under Contract 408-char remark

   Show marketing remark (408 chars)

   Multiple offers received calling for highest and best by 05/17/2023 at 4pm. Back on the market. Now accepting FHA buyers. Stainless steel appliances have been installed in the kitchen. Look at this beauty! Please come and see this MOVE IN ready 3 bedroom 1 bathroom ranch freashly painted and remolded. This property has a ton of potential located in Clay township, in a quite area. Please see agent remarks.

7. 2023-05-16
   price $130,000 408-char remark

   Show marketing remark (408 chars)

   Multiple offers received calling for highest and best by 05/17/2023 at 4pm. Back on the market. Now accepting FHA buyers. Stainless steel appliances have been installed in the kitchen. Look at this beauty! Please come and see this MOVE IN ready 3 bedroom 1 bathroom ranch freashly painted and remolded. This property has a ton of potential located in Clay township, in a quite area. Please see agent remarks.

8. 2023-05-16
   listed $125,000 Active 408-char remark

   Show marketing remark (408 chars)

   Multiple offers received calling for highest and best by 05/17/2023 at 4pm. Back on the market. Now accepting FHA buyers. Stainless steel appliances have been installed in the kitchen. Look at this beauty! Please come and see this MOVE IN ready 3 bedroom 1 bathroom ranch freashly painted and remolded. This property has a ton of potential located in Clay township, in a quite area. Please see agent remarks.

9. 2023-05-08
   price $125,000
10. 2023-04-26
    price $135,000
11. 2023-04-18
    listed $145,000 Active
12. 2023-04-13
    soldstatus $75,000
13. 2023-04-10
    soldstatus $75,000 Closed
14. 2023-04-10
    soldstatus $75,000 Closed
15. 2023-03-04
    status Pending
16. 2023-03-04
    status Pending
17. 2023-02-21
    price $79,900
18. 2023-02-21
    status Active
19. 2023-02-21
    price $79,900
20. 2022-12-09
    status Active
21. 2022-12-02
    status Pending
22. 2022-12-02
    status Pending
23. 2022-09-20
    status Active
24. 2022-09-20
    status Deal Fell Through
25. 2022-08-11
    status Pending
26. 2022-08-11
    status Pending
27. 2022-06-17
    listed $84,900 Active
28. 2022-06-17
    listed $84,900 Active

ⓘ 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: $1,013 · $84/mo
• Projected year-2 tax: $1,250 · $104/mo
• Expected delta: +$237/yr (+$20/mo · 23.4%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,972
• − Mortgage interest: −$9,797
• − Property taxes: −$1,013
• − Insurance: −$874
• − Repairs & maintenance: −$1,198
• − Management: −$1,198
• − Depreciation: −$5,088
• Taxable loss: −$4,197
• Est. tax savings @ 24.0%: +$1,007
• After-tax cash flow: $-59/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

• City population: 99,767
• Population (ZIP): 16,079

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 (71%)
• Race & ethnicity: White 71% Black 17% Two or more races 6% Asian 4% Hispanic / Latino 3%
• Common ancestry: Romanian 11% Italian 3% Iranian 3%
• Foreign-born: 9% · China, Canada, Vietnam
• Languages at home: 91% English-only · Spanish 2% Chinese 2% 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: ▼ -128.33%
• Current HPI: 210.1124
• Rent YoY: —
• Metro: —
• 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

+106.0% since first listed

28 events — show timeline

• 2026-05-20 Listed $174,900 IRMLS
• 2025-07-15 Pending — IRMLS
• 2025-07-15 Listed $60,000 IRMLS
• 2023-08-10 Sold (MLS) $131,000 IRMLS
• 2023-05-18 Pending — IRMLS
• 2023-05-17 Contingent — IRMLS
• 2023-05-16 Price Changed $130,000 IRMLS
• 2023-05-16 Listed $125,000 IRMLS
• 2023-05-08 Price Changed $125,000 IRMLS
• 2023-04-26 Price Changed $135,000 IRMLS
• 2023-04-18 Listed $145,000 IRMLS
• 2023-04-13 Sold (Public Records) $75,000 Public Records
• 2023-04-10 Sold (MLS) $75,000 IRMLS
• 2023-04-10 Sold (MLS) $75,000 NIRA MLS as Distributed by MLS Grid
• 2023-03-04 Pending — NIRA MLS as Distributed by MLS Grid
• 2023-03-04 Pending — IRMLS
• 2023-02-21 Price Changed $79,900 IRMLS
• 2023-02-21 Relisted — NIRA MLS as Distributed by MLS Grid
• 2023-02-21 Price Changed $79,900 NIRA MLS as Distributed by MLS Grid
• 2022-12-09 Relisted — IRMLS
• 2022-12-02 Pending — IRMLS
• 2022-12-02 Pending — NIRA MLS as Distributed by MLS Grid
• 2022-09-20 Relisted — IRMLS
• 2022-09-20 Relisted — NIRA MLS as Distributed by MLS Grid
• 2022-08-11 Pending — NIRA MLS as Distributed by MLS Grid
• 2022-08-11 Pending — IRMLS
• 2022-06-17 Listed $84,900 NIRA MLS as Distributed by MLS Grid
• 2022-06-17 Listed $84,900 IRMLS

Property tax history

+69.3%/yr

Latest (2023): $1,013 · -64.8% YoY. Source: county tax records.