1919 S Carlisle St · South Bend, IN 46613

$82,900

3 bd · 1.0 ba · 1,164 sqft · SingleFamily public records · 24 Days on market

Built 1952 8,973 sqft lot Est $130k · 36% under ↓ 3% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Centrally located in the heart of the city near shopping, expressways and dining this cape cod home has a ton of room and a great hobby/workshop area right off the garage. Basement has plenty of room for storage too! Back on market no earnest money or inspections completed

Key facts

• Hobby workshop area
• 8,973 sq ft lot
• 2 garage spots

Tags

• HOBBY WORKSHOP AREA
• PLENTY OF ROOM FOR STORAGE

Property features AI

Exterior

• Parking: Attached garage with 2 spaces; Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; One story
• Construction: Aluminum siding
• Exterior features: Lot dimensions approximately 75 x 120

Interior

• Kitchen: No appliances listed
• Bedrooms: Total of 5 rooms (bedrooms not individually listed)
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: One fireplace; Partial, unfinished basement
• Laundry & utility: Laundry located in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $83k.

Deal economics

• At list price, monthly cash flow is $386 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $83k).
• Recommended offer: $82k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.9% 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: Harrison Elementary School (math 3% / reading 3%, grade F, #988 of 994 statewide, top 99%, 654 students, 91% 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 86% FRL vs 66% district-wide (19 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.1%/yr); 77 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 754 units permitted in St. Joseph County in 2024 (460 in 5+ unit buildings).
• This rent runs 35% of the median local income ($43k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $573 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 4.1% rent growth), your $23k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $81,656 (1.5% below list)

Questions for the listing agent

1. Built in 1952 — 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: 1.51% ✓
• Cap rate: 11.88%
• Cash-on-cash: 19.94%
• DSCR: 1.89
• GRM: 5.5

CMA / ARV

• ARV (on-the-fly): $130,368
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1919 S Carlisle St	0.00mi	2/1.0 (-1)	1,105 (-5%)	0mo	$80,000	$72	86
2003 S Grant St	0.12mi	4/1.5 (+1)	1,176 (+1%)	15mo	$153,000	$130	73
2513 Prairie Ave	0.34mi	3/1.0	1,128 (-3%)	8mo	$65,000	$58	72
2113 S Dorothy St	0.34mi	3/1.0	1,176 (+1%)	13mo	$121,985	$104	72
1819 Magnolia St	0.44mi	3/1.0	1,284 (+10%)	1mo	$164,900	$128	61
1701 Nash St	0.40mi	3/1.0	1,272 (+9%)	7mo	$165,000	$130	60
1617 W Ewing Ave	0.41mi	3/1.0	1,036 (-11%)	11mo	$165,000	$159	54
1778 Prairie Ave	0.61mi	2/1.0 (-1)	1,122 (-4%)	9mo	$37,500	$33	53
1718 W Dubail St	0.32mi	3/1.0	1,325 (+14%)	14mo	$149,000	$112	51
2802 W Calvert St	0.36mi	3/2.0	1,008 (-13%)	9mo	$194,900	$193	49
1413 W Indiana Ave	0.62mi	3/1.0	1,030 (-12%)	5mo	$115,500	$112	48
1713 W Ewing St	0.36mi	2/1.0 (-1)	1,032 (-11%)	16mo	$100,000	$97	46

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 · 4.08% rent growth · sell at horizon

5-year hold

• IRR: 13.4%
• Equity multiple: 1.54×
• Total profit: $12,551
• Equity at exit: $12,361

10-year hold

• IRR: 23.1%
• Equity multiple: 3.09×
• Total profit: $48,501
• Equity at exit: $7,168

Cash invested: $23,212 (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 46613

• Home prices YoY: -7.2%
• Rents YoY: 4.1%
• Active inventory: 77
• Price-to-rent: 5.5×

Monthly cashflow live

• Estimated rent: $1,255 high
• Mortgage (P&I): −$435
• Tax from tax record: −$136 /mo · $1,633/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $386

Break-even live

Break-even rent $766

Max offer price $82,900

Occupancy floor 64%

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: $20,725
• Closing costs: $2,487
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1928 S Walnut St South Bend, IN	2.0	1.0	700	$1,150	$1.64	43d	1	0.54mi
1909 Swygart Ave South Bend, IN	2.0	1.0	720	$1,100	$1.53	13d	1	0.58mi
2002 Catalpa Ave South Bend, IN	3.0	1.0	1424	$1,250	$0.88	21d	1	0.98mi
2502 Ford St South Bend, IN	3.0	1.0	1176	$1,175	$1.00	43d	1	1.07mi
1920 S Scott St South Bend, IN	2.0	1.0	816	$1,000	$1.23	13d	1	1.17mi
2102 S Scott St South Bend, IN	3.0	1.0	768	$1,250	$1.63	43d	1	1.17mi
1317 Poland St South Bend, IN	3.0	1.0	1100	$1,300	$1.18	21d	1	1.18mi
3220 Vermont Pl South Bend, IN	2.0	1.0	725	$1,100	$1.52	13d	1	1.20mi
453 S Kaley St Unit 1 South Bend, IN	2.0	1.0	1100	$1,050	$0.95	43d	1	1.25mi
421 S Lake St South Bend, IN	2.0	1.0	900	$1,200	$1.33	43d	1	1.48mi
208 S Bendix Dr South Bend, IN	3.0	1.0	864	$1,150	$1.33	21d	1	1.49mi

Listing history 6 events

1. 2026-05-12
   status Active 216-char remark

   Show marketing remark (273 chars)

   Centrally located in the heart of the city near shopping, expressways and dining this cape cod home has a ton of room and a great hobby/workshop area right off the garage. Basement has plenty of room for storage too! Back on market no earnest money or inspections completed

2. 2026-05-12
   status Active 273-char remark

   Show marketing remark (273 chars)

   Centrally located in the heart of the city near shopping, expressways and dining this cape cod home has a ton of room and a great hobby/workshop area right off the garage. Basement has plenty of room for storage too! Back on market no earnest money or inspections completed

3. 2026-05-10
   status Pending 216-char remark

   Show marketing remark (273 chars)

   Centrally located in the heart of the city near shopping, expressways and dining this cape cod home has a ton of room and a great hobby/workshop area right off the garage. Basement has plenty of room for storage too! Back on market no earnest money or inspections completed

4. 2026-05-10
   status Pending 273-char remark

   Show marketing remark (273 chars)

   Centrally located in the heart of the city near shopping, expressways and dining this cape cod home has a ton of room and a great hobby/workshop area right off the garage. Basement has plenty of room for storage too! Back on market no earnest money or inspections completed

5. 2026-04-30
   listed $82,900 Active 216-char remark
6. 2026-04-29
   listed $82,900 Active 273-char remark

   Show marketing remark (273 chars)

   Centrally located in the heart of the city near shopping, expressways and dining this cape cod home has a ton of room and a great hobby/workshop area right off the garage. Basement has plenty of room for storage too! Back on market no earnest money or inspections completed

ⓘ 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: $1,633 · $136/mo
• Projected year-2 tax: $1,633 · $136/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 · 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: $15,054
• − Mortgage interest: −$4,644
• − Property taxes: −$1,633
• − Insurance: −$414
• − Repairs & maintenance: −$1,204
• − Management: −$1,204
• − Depreciation: −$2,412
• Taxable income: $3,543
• Est. tax owed @ 24.0%: −$850
• After-tax cash flow: $3,778/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): 12,279
• Household income: $42,537
• Rent vs Own: 46.6% rent · 53.4% own
• Severe rent burden: 545.0

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: Highly diverse neighborhood (Simpson 0.72)
• Race & ethnicity: White 41% Hispanic / Latino 24% Black 23% Two or more races 22% Asian 2% Native American 1%
• Hispanic origin (detail): Mexican 22%
• Common ancestry: Romanian 4% Italian 1% Slovak 1%
• Foreign-born: 9% · Canada, Philippines
• Languages at home: 81% English-only · Spanish 17% Other Asian/Pacific 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: ▼ -20.88%
• Current HPI: 270.0303
• Rent YoY: ▲ 4.08%
• 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

-3.5% since first listed

10 events — show timeline

• 2026-06-08 Sold (MLS) $80,000 IRMLS
• 2026-06-08 Sold (MLS) $80,000 NIRA MLS as Distributed by MLS Grid
• 2026-05-28 Pending — IRMLS
• 2026-05-28 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-05-12 Relisted — IRMLS
• 2026-05-12 Relisted — NIRA MLS as Distributed by MLS Grid
• 2026-05-10 Pending — IRMLS
• 2026-05-10 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-04-30 Listed $82,900 IRMLS
• 2026-04-29 Listed $82,900 NIRA MLS as Distributed by MLS Grid

Property tax history

-7.3%/yr

Latest (2025): $1,633 · +4.7% YoY. Source: county tax records.