2702 Prast Blvd · South Bend, IN 46628

$75,000

2 bd · 1.0 ba · 828 sqft · SingleFamily public records · 24 Days on market

Built 1939 4,920 sqft lot Est $77k · at est.

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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 +8.7/15.0
• 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 MLS

AFFORDABLE 2 BED ROOMS W/ BASEMENT. ALL APPLIANCES. EAT-IN KITCHEN HAS RANGE & REFRIGERATOR. LOWER LEVEL HAS WASHER & DRYER. CONDITION OF APPLIANCES IS UNKNOWN. FENCED YARD. DETACHED GARAGE WITH ACCESS FROM ALLEY. DO NOT USE TOILETS/SINKS AS WATER IS OFF. SCHOOLS & APPLS NOT WARRANT. BUYER SHOULD VERIFY W/ SCHOOL SYS. RM SIZES APPROX & NOT WARRANT. BUYER SHOULD DETERMINE IF ADEQUATE. SQ’ & LOT SIZE PER ASSOR & NOT WARRANT. TAX, EXS, RATE, & /0R ASMT NOT WARRANT. BB SHOULD VERIFY.

Key facts

• 4,920 sq ft lot
• Garage
• Built 1939

Property features AI

Finance

• Other: Property listed by Pyramid Realty LLC

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family, site-built home; One story
• Construction: Built with aluminum siding and block; Block foundation; Shingle roof
• Exterior features: Level lot; Lot dimensions approximately 41 x 120

Interior

• Kitchen: Includes refrigerator and electric range
• Bedrooms: Total of 5 rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Refrigerator; Electric range
• Laundry & utility: Laundry located in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $418 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• Cap rate 13.0% 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: 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); 424 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $519 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 $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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 $18k; list at $75k implies a 317% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1939 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $73,875 (1.5% below list)

Questions for the listing agent

1. Built in 1939 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 1.54% ✓
• Cap rate: 12.98%
• Cash-on-cash: 23.88%
• DSCR: 2.06
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $77,004
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2702 Prast Blvd	0.00mi	2/1.0	804 (-3%)	0mo	$75,000	$93	95
3005 Frederickson St	0.19mi	2/1.0	736 (-11%)	0mo	$95,000	$129	72
1122 Obrien St	0.49mi	2/1.0	810 (-2%)	5mo	$64,000	$79	70
1133 N Brookfield St	0.59mi	2/1.0	792 (-4%)	0mo	$112,900	$143	65
1338 Obrien St	0.63mi	2/1.0	840 (+1%)	5mo	$83,000	$99	64
1118 N Brookfield St	0.60mi	2/1.0	864 (+4%)	1mo	$159,900	$185	64
722 Johnson St	0.50mi	2/1.0	892 (+8%)	0mo	$65,000	$73	64
1134 College St	0.67mi	2/1.0	792 (-4%)	3mo	$115,600	$146	59
1224 Fremont St	0.40mi	2/1.0	704 (-15%)	5mo	$38,000	$54	52
1353 N Olive St	0.54mi	2/1.0	720 (-13%)	3mo	$60,000	$83	50
1322 Johnson St	0.65mi	2/2.0	912 (+10%)	3mo	$72,500	$79	46
1506 N Huey St	0.70mi	2/1.0	924 (+12%)	3mo	$70,000	$76	45

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: 21.2%
• Equity multiple: 1.91×
• Total profit: $19,015
• Equity at exit: $11,183

10-year hold

• IRR: 31.7%
• Equity multiple: 4.38×
• Total profit: $71,035
• Equity at exit: $6,485

Cash invested: $21,000 (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: 5.4×

Monthly cashflow live

• Estimated rent: $1,154 high
• Mortgage (P&I): −$393
• Tax from tax record: −$69 /mo · $827/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $418

Break-even live

Break-even rent $625

Max offer price $75,000

Occupancy floor 59%

Sensitivity live

Price	-10% $460	-5% $439	+0% $418	+5% $397	+10% $375
Rent	-10% $327	-5% $372	+0% $418	+5% $463	+10% $509
Rate	-1.0pp $456	-0.5pp $437	base $418	+0.5pp $398	+1.0pp $379

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
729 N Elmer St South Bend, IN	2.0	1.0	672	$1,100	$1.64	14d	1	0.30mi
1141 Fremont St South Bend, IN	3.0	1.0	760	$1,100	$1.45	22d	1	0.33mi
717 Huey St South Bend, IN	2.0	1.0	672	$1,050	$1.56	45d	1	0.36mi
1046 N Elmer St South Bend, IN	2.0	1.0	1050	$1,025	$0.98	22d	1	0.36mi
3224 Ardmore Trl South Bend, IN	1.0	1.0	675	$864	$1.28	14d	2	0.39mi
2823 Calhoun St South Bend, IN	2.0	1.0	720	$1,249	$1.73	45d	1	0.46mi
2417 Linden Ave South Bend, IN	2.0	1.0	1000	$1,200	$1.20	45d	1	0.46mi
1314 Johnson St South Bend, IN	2.0	1.0	902	$1,150	$1.27	14d	1	0.65mi
1505 Huey St South Bend, IN	3.0	1.0	864	$1,425	$1.65	22d	1	0.70mi
2013 Elwood Ave South Bend, IN	3.0	1.0	720	$999	$1.39	45d	1	0.70mi
1614 Fremont St South Bend, IN	2.0	1.0	720	$850	$1.18	22d	1	0.72mi
1237 Wilber St South Bend, IN	2.0	1.0	880	$1,200	$1.36	45d	1	0.82mi
1630 Obrien St South Bend, IN	3.0	1.0	1120	$1,400	$1.25	14d	1	0.84mi
208 S Bendix Dr South Bend, IN	3.0	1.0	864	$1,150	$1.33	22d	1	0.84mi
1709 Huey St South Bend, IN	2.0	1.0	720	$995	$1.38	22d	1	0.88mi
736 Lawndale Ave Unit 1 South Bend, IN	3.0	1.0	1072	$1,200	$1.12	14d	1	0.89mi
202 N Chicago St South Bend, IN	2.0	1.0	720	$1,055	$1.47	45d	1	0.94mi
1710 Johnson St South Bend, IN	3.0	1.0	1000	$1,350	$1.35	45d	1	0.95mi
453 S Kaley St Unit 1 South Bend, IN	2.0	1.0	1100	$1,050	$0.95	45d	1	1.08mi
421 S Lake St South Bend, IN	2.0	1.0	900	$1,200	$1.33	45d	1	1.11mi
910 Allen St South Bend, IN	3.0	1.0	1100	$1,350	$1.23	22d	1	1.14mi
1308 Kinyon St South Bend, IN	2.0	1.0	700	$1,100	$1.57	45d	1	1.21mi
1214 Queen St South Bend, IN	3.0	1.0	1056	$1,300	$1.23	14d	1	1.24mi
1428 Kessler Blvd South Bend, IN	3.0	1.0	936	$1,000	$1.07	45d	1	1.24mi
1201 Woodward Ave South Bend, IN	2.0	1.0	960	$1,675	$1.74	45d	1	1.25mi
3220 Vermont Pl South Bend, IN	2.0	1.0	725	$1,100	$1.52	14d	1	1.34mi
4510 W Washington St South Bend, IN	2.0	1.0	720	$1,039	$1.44	45d	1	1.44mi
1033 Beale St South Bend, IN	3.0	1.0	840	$1,250	$1.49	22d	1	1.49mi

Listing history 12 events

1. 2026-06-09
   status $75,000 Pending 24 DOM
2. 2026-06-08
   days on market $75,000 Active Under Contract 24 DOM
3. 2026-06-07
   days on market $75,000 Active Under Contract 23 DOM
4. 2026-06-03
   days on market $75,000 Active Under Contract 19 DOM
5. 2026-06-02
   days on market $75,000 Active Under Contract 18 DOM
6. 2026-06-01
   days on market $75,000 Active Under Contract 17 DOM
7. 2026-05-31
   days on market $75,000 Active Under Contract 16 DOM
8. 2026-05-30
   days on market $75,000 Active Under Contract 15 DOM
9. 2026-05-19
   historical Active Under Contract
10. 2026-05-16
    listed $75,000 Active
11. 2016-11-11
    soldstatus $18,000 530-char remark

    Show marketing remark (530 chars)

    AFFORDABLE 2 BED ROOMS W/ BASEMENT. ALL APPLIANCES. EAT-IN KITCHEN HAS RANGE & REFRIGERATOR. LOWER LEVEL HAS WASHER & DRYER. CONDITION OF APPLIANCES IS UNKNOWN. FENCED YARD. DETACHED GARAGE WITH ACCESS FROM ALLEY. DO NOT USE TOILETS/SINKS AS WATER IS OFF. SCHOOLS & APPLS NOT WARRANT. BUYER SHOULD VERIFY W/ SCHOOL SYS. RM SIZES APPROX & NOT WARRANT. BUYER SHOULD DETERMINE IF ADEQUATE. SQ’ & LOT SIZE PER ASSOR & NOT WARRANT. TAX, EXS, RATE, & /0R ASMT NOT WARRANT. BB SHOULD VERIFY.

12. 2016-08-27
    listed $21,000 530-char remark

    Show marketing remark (530 chars)

    AFFORDABLE 2 BED ROOMS W/ BASEMENT. ALL APPLIANCES. EAT-IN KITCHEN HAS RANGE & REFRIGERATOR. LOWER LEVEL HAS WASHER & DRYER. CONDITION OF APPLIANCES IS UNKNOWN. FENCED YARD. DETACHED GARAGE WITH ACCESS FROM ALLEY. DO NOT USE TOILETS/SINKS AS WATER IS OFF. SCHOOLS & APPLS NOT WARRANT. BUYER SHOULD VERIFY W/ SCHOOL SYS. RM SIZES APPROX & NOT WARRANT. BUYER SHOULD DETERMINE IF ADEQUATE. SQ’ & LOT SIZE PER ASSOR & NOT WARRANT. TAX, EXS, RATE, & /0R ASMT NOT WARRANT. BB SHOULD VERIFY.

ⓘ 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: $827 · $69/mo
• Projected year-2 tax: $827 · $69/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 5/10 Major FEMA zone X (unshaded) · 57% 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 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,843
• − Mortgage interest: −$4,201
• − Property taxes: −$827
• − Insurance: −$375
• − Repairs & maintenance: −$1,107
• − Management: −$1,107
• − Depreciation: −$2,182
• Taxable income: $4,043
• Est. tax owed @ 24.0%: −$970
• After-tax cash flow: $4,044/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

+257.1% since first listed

4 events — show timeline

• 2026-05-19 Contingent — IRMLS
• 2026-05-16 Listed $75,000 IRMLS
• 2016-11-11 Sold (MLS) $18,000 IRMLS
• 2016-08-27 Listed $21,000 IRMLS

Property tax history

-6.3%/yr

Latest (2023): $827 · -0.7% YoY. Source: county tax records.