1134 N Johnson St · South Bend, IN 46628

$99,995

3 bd · 1.0 ba · 1,248 sqft · SingleFamily public records · 74 Days on market

Built 1920 4,792 sqft lot $80/sqft · 19% above area Est $84k · 19% over ↓ 10% 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 +8.6/10.0
• 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

Investors or Homebuyers!! Welcome home to this beautifully updated 3-bedroom, 1-bath residence! Step inside to discover fresh paint throughout, brand new flooring and painted hardwood that adds warmth and style to every room, and sparkling new windows that flood the space with natural light while boosting energy efficiency. The home features a completely refreshed interior with a modern, comfortable flow perfect for everyday living or entertaining. Stay comfortable year-round with a brand new A/C and furnace system—reliable heating and cooling you can count on without the worry of future repairs. Whether you're a first-time buyer, or looking for a low-maintenance property, this home delivers turn-key convenience and peace of mind. The single bathroom has been thoughtfully refreshed as part of the remodel, and the three bedrooms offer flexible space for family, guests, or a home office. Don't miss this opportunity to own a like-new home without the hassle of a major project. Schedule your showing today and make it your own!

Key facts

• Fresh paint
• Refreshed interior
• New flooring

Tags

• UPDATED RESIDENCE
• FRESH PAINT
• NEW FLOORING
• PAINTED HARDWOOD
• NEW WINDOWS
• REFRESHED INTERIOR

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $434 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.5% 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; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 $691 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 $28k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 74 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

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

Recommended offer $93,995 (6.0% below list)

Questions for the listing agent

1. It's been on market 74 days. Have you received any prior offers? Is the seller open to a 6% 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. 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. 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?
6. 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?
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: 1.36% ✓
• Cap rate: 11.51%
• Cash-on-cash: 18.62%
• DSCR: 1.83
• GRM: 6.1

CMA / ARV

• ARV (median comp): $83,852
• List price: $99,995
• Delta: 19.25%
• 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
740 Johnson St	0.33mi	3/1.0	1,264 (+1%)	0mo	$146,200	$116	82
1521 Huey St	0.39mi	2/1.0 (-1)	1,280 (+3%)	2mo	$105,900	$83	71
1337 N Adams St	0.25mi	3/1.0	1,366 (+10%)	2mo	$95,000	$70	70
1310 N Brookfield St	0.15mi	3/1.0	1,092 (-12%)	2mo	$140,000	$128	70
2518 Rogers St	0.66mi	3/1.0	1,232 (-1%)	1mo	$90,000	$73	66
1233 Wilber St	0.25mi	3/1.0	1,079 (-14%)	0mo	$67,490	$63	65
1233 Van Buren St	0.57mi	3/1.0	1,168 (-6%)	2mo	$50,000	$43	61
2018 Roger St	0.54mi	3/1.0	1,152 (-8%)	2mo	$75,000	$65	60
1734 N Elmer St	0.60mi	3/1.0	1,148 (-8%)	1mo	$178,000	$155	58
1749 N Fremont St	0.69mi	3/2.0	1,120 (-10%)	2mo	$155,000	$138	45
1901 Linden Ave	0.74mi	3/1.0	1,073 (-14%)	0mo	$167,000	$156	42
2121 Linden Ave	0.75mi	3/1.0	1,072 (-14%)	2mo	$70,000	$65	40

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: 14.4%
• Equity multiple: 1.60×
• Total profit: $16,834
• Equity at exit: $14,910

10-year hold

• IRR: 25.7%
• Equity multiple: 3.65×
• Total profit: $74,098
• Equity at exit: $8,646

Cash invested: $27,999 (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: 6.1×

Monthly cashflow live

• Estimated rent: $1,362 high
• Mortgage (P&I): −$524
• Tax from tax record: −$75 /mo · $904/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $434

Break-even live

Break-even rent $812

Max offer price $99,995

Occupancy floor 63%

Sensitivity live

Price	-10% $491	-5% $463	+0% $434	+5% $406	+10% $378
Rent	-10% $327	-5% $381	+0% $434	+5% $488	+10% $542
Rate	-1.0pp $485	-0.5pp $460	base $434	+0.5pp $409	+1.0pp $382

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: $24,999
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1206 Johnson St South Bend, IN	3.0	1.5	1320	$1,400	$1.06	44d	1	0.07mi
1054 Huey St South Bend, IN	4.0	2.0	1288	$1,550	$1.20	14d	1	0.12mi
1314 Johnson St South Bend, IN	2.0	1.0	902	$1,150	$1.27	14d	1	0.16mi
1046 N Elmer St South Bend, IN	2.0	1.0	1050	$1,025	$0.98	21d	1	0.18mi
2205 Lincoln Way W South Bend, IN	4.0	2.0	1440	$1,565	$1.09	14d	1	0.20mi
2010 Lincoln Way W Unit 2 South Bend, IN	3.0	1.0	1150	$1,325	$1.15	21d	1	0.23mi
1237 Wilber St South Bend, IN	2.0	1.0	880	$1,200	$1.36	44d	1	0.28mi
2013 Elwood Ave South Bend, IN	3.0	1.0	720	$999	$1.39	44d	1	0.28mi
1141 Fremont St South Bend, IN	3.0	1.0	760	$1,100	$1.45	21d	1	0.32mi
1505 Huey St South Bend, IN	3.0	1.0	864	$1,425	$1.65	21d	1	0.37mi
1505 N Adams St South Bend, IN	3.0	1.0	1200	$1,350	$1.12	14d	1	0.38mi
1630 Obrien St South Bend, IN	3.0	1.0	1120	$1,400	$1.25	14d	1	0.46mi
1642 Johnson St South Bend, IN	3.0	1.0	1375	$1,400	$1.02	14d	1	0.48mi
1614 Fremont St South Bend, IN	2.0	1.0	720	$850	$1.18	21d	1	0.51mi
736 Lawndale Ave Unit 1 South Bend, IN	3.0	1.0	1072	$1,200	$1.12	14d	1	0.54mi
1710 Johnson St South Bend, IN	3.0	1.0	1000	$1,350	$1.35	44d	1	0.54mi
1709 Huey St South Bend, IN	2.0	1.0	720	$995	$1.38	21d	1	0.56mi
752 Diamond Ave South Bend, IN	3.0	1.5	1248	$1,400	$1.12	44d	1	0.56mi
2823 Calhoun St South Bend, IN	2.0	1.0	720	$1,249	$1.73	44d	1	0.58mi
1308 Kinyon St South Bend, IN	2.0	1.0	700	$1,100	$1.57	44d	1	0.67mi
1118 Van Buren St South Bend, IN	3.0	1.0	1394	$1,375	$0.99	21d	1	0.69mi
2203 Smith St South Bend, IN	3.0	1.0	1248	$1,215	$0.97	14d	1	0.70mi
1428 Kessler Blvd South Bend, IN	3.0	1.0	936	$1,000	$1.07	44d	1	0.70mi
1214 Queen St South Bend, IN	3.0	1.0	1056	$1,300	$1.23	14d	1	0.70mi
910 Allen St South Bend, IN	3.0	1.0	1100	$1,350	$1.23	21d	1	0.70mi
1201 Woodward Ave South Bend, IN	2.0	1.0	960	$1,675	$1.74	44d	1	0.74mi
2417 Linden Ave South Bend, IN	2.0	1.0	1000	$1,200	$1.20	44d	1	0.75mi
1918 Johnson St South Bend, IN	3.0	1.0	1200	$1,200	$1.00	14d	1	0.84mi
1033 Beale St South Bend, IN	3.0	1.0	840	$1,250	$1.49	21d	1	0.97mi
937 Roosevelt St South Bend, IN	2.0	1.0	720	$1,060	$1.47	44d	1	1.00mi
929 Beale St South Bend, IN	2.0	1.0	720	$975	$1.35	44d	1	1.05mi
344 Parkovash Ave South Bend, IN	3.0	1.0	950	$1,900	$2.00	14d	1	1.21mi
208 S Bendix Dr South Bend, IN	3.0	1.0	864	$1,150	$1.33	21d	1	1.23mi
453 S Kaley St Unit 1 South Bend, IN	2.0	1.0	1100	$1,050	$0.95	44d	1	1.43mi
202 N Chicago St South Bend, IN	2.0	1.0	720	$1,055	$1.47	44d	1	1.48mi

Listing history 5 events

1. 2026-05-31
   status $99,995 Pending 74 DOM
2. 2026-05-30
   days on market $99,995 Active 74 DOM
3. 2026-05-06
   price $119,995 1044-char remark

   Show marketing remark (1044 chars)

   Investors or Homebuyers!! Welcome home to this beautifully updated 3-bedroom, 1-bath residence! Step inside to discover fresh paint throughout, brand new flooring and painted hardwood that adds warmth and style to every room, and sparkling new windows that flood the space with natural light while boosting energy efficiency. The home features a completely refreshed interior with a modern, comfortable flow perfect for everyday living or entertaining. Stay comfortable year-round with a brand new A/C and furnace system—reliable heating and cooling you can count on without the worry of future repairs. Whether you're a first-time buyer, or looking for a low-maintenance property, this home delivers turn-key convenience and peace of mind. The single bathroom has been thoughtfully refreshed as part of the remodel, and the three bedrooms offer flexible space for family, guests, or a home office. Don't miss this opportunity to own a like-new home without the hassle of a major project. Schedule your showing today and make it your own!

4. 2026-04-09
   price $129,995 1044-char remark

   Show marketing remark (1044 chars)

   Investors or Homebuyers!! Welcome home to this beautifully updated 3-bedroom, 1-bath residence! Step inside to discover fresh paint throughout, brand new flooring and painted hardwood that adds warmth and style to every room, and sparkling new windows that flood the space with natural light while boosting energy efficiency. The home features a completely refreshed interior with a modern, comfortable flow perfect for everyday living or entertaining. Stay comfortable year-round with a brand new A/C and furnace system—reliable heating and cooling you can count on without the worry of future repairs. Whether you're a first-time buyer, or looking for a low-maintenance property, this home delivers turn-key convenience and peace of mind. The single bathroom has been thoughtfully refreshed as part of the remodel, and the three bedrooms offer flexible space for family, guests, or a home office. Don't miss this opportunity to own a like-new home without the hassle of a major project. Schedule your showing today and make it your own!

5. 2026-03-17
   listed $132,995 Active 1044-char remark

   Show marketing remark (1044 chars)

   Investors or Homebuyers!! Welcome home to this beautifully updated 3-bedroom, 1-bath residence! Step inside to discover fresh paint throughout, brand new flooring and painted hardwood that adds warmth and style to every room, and sparkling new windows that flood the space with natural light while boosting energy efficiency. The home features a completely refreshed interior with a modern, comfortable flow perfect for everyday living or entertaining. Stay comfortable year-round with a brand new A/C and furnace system—reliable heating and cooling you can count on without the worry of future repairs. Whether you're a first-time buyer, or looking for a low-maintenance property, this home delivers turn-key convenience and peace of mind. The single bathroom has been thoughtfully refreshed as part of the remodel, and the three bedrooms offer flexible space for family, guests, or a home office. Don't miss this opportunity to own a like-new home without the hassle of a major project. Schedule your showing today and make it your own!

ⓘ 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: $904 · $75/mo
• Projected year-2 tax: $904 · $75/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 · 15 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: $16,342
• − Mortgage interest: −$5,601
• − Property taxes: −$904
• − Insurance: −$500
• − Repairs & maintenance: −$1,307
• − Management: −$1,307
• − Depreciation: −$2,909
• Taxable income: $3,813
• Est. tax owed @ 24.0%: −$915
• After-tax cash flow: $4,299/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

-9.8% since first listed

3 events — show timeline

• 2026-05-06 Price Changed $119,995 IRMLS
• 2026-04-09 Price Changed $129,995 IRMLS
• 2026-03-17 Listed $132,995 IRMLS

Property tax history

-10.1%/yr

Latest (2023): $904 · +13.1% YoY. Source: county tax records.