622 S 30th St · South Bend, IN 46615

$189,900

2 bd · 2.0 ba · 1,052 sqft · SingleFamily public records · 3 Days on market

Built 1930 6,400 sqft lot Est $156k · 22% over

---

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 +8.9/30.0
• Rent growth +4.1/5.0
• Livability +3.2/5.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• 1% rule +1.9/10.0
• Schools +1.4/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Rare! 3 bedroom 2 bath home in river Park totally remodeled including all new kitchen cabinets and counter tops. You'll love the private master suite in the back of the home for privacy and it's own Master Bath! Newer siding gutters, facia and soffit. Garage has a lot of peeling paint.

Key facts

• Unique layout
• Refreshed bathrooms
• 6,400 sq ft lot

Tags

• UNIQUE LAYOUT
• FULLY UPDATED KITCHEN
• REFRESHED BATHROOMS
• MAIN-LEVEL PRIMARY SUITE
• FINISHED SQUARE FOOTAGE
• FULLY FENCED BACKYARD

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer; Cable connected
• Home design: Single-family residence, site-built; One story
• Construction: Vinyl siding; Block foundation; Asphalt roof; Built as a site-built home
• Exterior features: Deck and porch; Fire pit; Privacy fencing; Sloped lot

Interior

• Kitchen: Dishwasher; Gas oven and gas range; Refrigerator
• Bedrooms: Bedrooms located on the main level
• Flooring: Hardwood; Vinyl; Other
• Bathrooms: Two full bathrooms, both on the main level
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Breakfast bar; Fireplace in the family room; Partially finished basement
• Laundry & utility: Washer and dryer; Laundry on the lower level; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $190k.

Deal economics

• At list price, monthly cash flow is $-153 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $163k (14.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $132k (30.5% below list).
• Recommended offer: $132k (30.5% below list) — sets the bar for 1% rule.
• Cap rate 5.3% 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: Nuner Fine Arts Academy (math 8% / reading 12%, grade F, #921 of 994 statewide, top 94%, 479 students, 90% FRL); Edison Middle School (math 7% / reading 13%, grade F, #314 of 330 statewide, top 95%, 381 students, 84% FRL); Adams High School (math 28% / reading 57%, grade F, #195 of 369 statewide, top 53%, 1,976 students, 56% FRL).
• Market conditions: Rents rising fast (+6.3%/yr); 73 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $6k of value loss. Plan a longer hold.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 11y 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 $130k; 46% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,903 (30.5% 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 1930 — 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: 0.69% ✗
• Cap rate: 5.33%
• Cash-on-cash: -3.45%
• DSCR: 0.85
• GRM: 12.0

CMA / ARV

• ARV (on-the-fly): $155,696
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
741 S 36th St	0.38mi	2/2.0	1,004 (-5%)	0mo	$200,000	$199	74
722 S 32nd St	0.16mi	2/1.0	960 (-9%)	1mo	$170,000	$177	73
806 S 27th St	0.27mi	2/1.0	1,008 (-4%)	4mo	$154,900	$154	73
622 S 27th St	0.20mi	2/1.0	990 (-6%)	5mo	$90,000	$91	73
526 S 35th St	0.33mi	3/1.0 (+1)	1,028 (-2%)	2mo	$154,500	$150	71
806 S 23rd St	0.49mi	2/1.0	1,036 (-2%)	4mo	$148,000	$143	67
537 S 27th St	0.23mi	3/2.0 (+1)	970 (-8%)	5mo	$142,000	$146	67
1008 S 32nd St	0.44mi	3/1.0 (+1)	994 (-6%)	1mo	$187,000	$188	61
3506 Pleasant St	0.62mi	2/1.0	1,008 (-4%)	1mo	$149,000	$148	59
935 S 26th St	0.48mi	3/1.0 (+1)	1,144 (+9%)	2mo	$120,000	$105	52
910 W Borley Ave	0.62mi	3/1.5 (+1)	1,158 (+10%)	6mo	$125,000	$108	42
1325 S 29th St	0.65mi	3/1.0 (+1)	936 (-11%)	3mo	$80,000	$85	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 · 6.27% rent growth · sell at horizon

5-year hold

• IRR: -18.9%
• Equity multiple: 0.32×
• Total profit: $-36,076
• Equity at exit: $28,315

10-year hold

• IRR: -6.4%
• Equity multiple: 0.54×
• Total profit: $-24,488
• Equity at exit: $16,419

Cash invested: $53,172 (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 46615

• Home prices YoY: -34.0%
• Rents YoY: 6.3%
• Active inventory: 73
• Price-to-rent: 12.0×

Monthly cashflow live

• Estimated rent: $1,319 high
• Mortgage (P&I): −$996
• Tax from tax record: −$120 /mo · $1,438/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $-153

Break-even live

Break-even rent $1,512

Max offer price $162,904

Occupancy floor —

Sensitivity live

Price	-10% $-45	-5% $-99	+0% $-153	+5% $-207	+10% $-260
Rent	-10% $-257	-5% $-205	+0% $-153	+5% $-101	+10% $-49
Rate	-1.0pp $-57	-0.5pp $-105	base $-153	+0.5pp $-202	+1.0pp $-252

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: $47,475
• Closing costs: $5,697
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
737 S 30th St South Bend, IN	3.0	2.0	1000	$1,600	$1.60	44d	1	0.13mi
526 S 28th St South Bend, IN	2.0	1.0	1000	$1,350	$1.35	14d	1	0.15mi
427 S 27th St South Bend, IN	2.0	1.0	840	$950	$1.13	44d	1	0.26mi
804 S 27th St South Bend, IN	1.0	1.0	700	$850	$1.21	21d	1	0.28mi
3001 E Jefferson Blvd South Bend, IN	1.0–2.0	1.0–2.0	848	$1,329	$1.57	14d	21	0.36mi
819 S 24th St South Bend, IN	3.0	2.0	1480	$1,795	$1.21	44d	1	0.47mi
754 S 23rd St South Bend, IN	3.0	1.0	884	$1,300	$1.47	44d	1	0.48mi
1006 S 35th St South Bend, IN	3.0	2.0	816	$1,000	$1.23	14d	1	0.53mi
1218 S 26th St South Bend, IN	3.0	1.0	856	$1,400	$1.64	14d	1	0.62mi
3530 Northside Blvd South Bend, IN	1.0–2.0	1.0	850	$1,200	$1.41	14d	1	0.74mi
1106 S 20th St South Bend, IN	1.0–3.0	1.0–2.0	885	$924	$1.04	14d	1	0.80mi
724 Elizabeth St Mishawaka, IN	1.0	1.0	850	$875	$1.03	14d	1	1.15mi
516 W 3rd St #6 Mishawaka, IN	2.0	1.0	700	$800	$1.14	14d	1	1.16mi
516 W 3rd St Apt 1 Mishawaka, IN	1.0	1.0	750	$800	$1.07	21d	1	1.16mi
365 W Front St Mishawaka, IN	2.0	1.0–2.0	825	$3,050	$3.70	14d	1	1.18mi
300 Pin Oak Cir Mishawaka, IN	1.0–3.0	1.0–1.5	835	$1,052	$1.26	14d	1	1.19mi
116 W Mishawaka Ave Mishawaka, IN	3.0	1.0–2.0	948	$1,914	$2.02	14d	31	1.19mi
2804 Delaware St Mishawaka, IN	2.0	1.0	720	$1,200	$1.67	14d	1	1.26mi
1729 E Calvert St South Bend, IN	3.0	1.0	900	$1,300	$1.44	44d	1	1.32mi
209 E Edgar Ave Mishawaka, IN	3.0	1.0	1400	$1,400	$1.00	14d	1	1.38mi
232 E Grove St Mishawaka, IN	3.0	1.0	1188	$1,500	$1.26	14d	1	1.40mi
1701 E Donald St South Bend, IN	2.0	1.0	720	$1,075	$1.49	44d	1	1.45mi

Listing history 6 events

1. 2026-05-22
   status Pending
2. 2026-05-19
   listed $189,900 Active
3. 2021-10-04
   soldstatus $130,000 287-char remark

   Show marketing remark (287 chars)

   Rare! 3 bedroom 2 bath home in river Park totally remodeled including all new kitchen cabinets and counter tops. You'll love the private master suite in the back of the home for privacy and it's own Master Bath! Newer siding gutters, facia and soffit. Garage has a lot of peeling paint.

4. 2021-08-30
   listed $125,000 287-char remark

   Show marketing remark (287 chars)

   Rare! 3 bedroom 2 bath home in river Park totally remodeled including all new kitchen cabinets and counter tops. You'll love the private master suite in the back of the home for privacy and it's own Master Bath! Newer siding gutters, facia and soffit. Garage has a lot of peeling paint.

5. 2015-06-02
   soldstatus $21,000 35-char remark

   Show marketing remark (35 chars)

   Home needs TLC, priced accordingly.

6. 2015-04-27
   listed $28,500 35-char remark

   Show marketing remark (35 chars)

   Home needs TLC, priced accordingly.

ⓘ 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: $1,438 · $120/mo
• Projected year-2 tax: $1,526 · $127/mo
• Expected delta: +$88/yr (+$7/mo · 6.1%)

ⓘ 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 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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,828
• − Mortgage interest: −$10,637
• − Property taxes: −$1,438
• − Insurance: −$950
• − Repairs & maintenance: −$1,266
• − Management: −$1,266
• − Depreciation: −$5,524
• Taxable loss: −$5,254
• Est. tax savings @ 24.0%: +$1,261
• After-tax cash flow: $-573/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): 14,190
• Household income: $62,964
• Rent vs Own: 36.9% rent · 63.1% own
• Severe rent burden: 420.0

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: Predominantly White (65%)
• Race & ethnicity: White 65% Black 14% Two or more races 11% Hispanic / Latino 10% Asian 3%
• Hispanic origin (detail): Mexican 8%
• Common ancestry: Romanian 6% Italian 2% Serbian 2%
• Foreign-born: 8% · Canada, Vietnam
• Languages at home: 87% English-only · Spanish 7% Tagalog/Filipino 1% 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: ▼ -124.82%
• Current HPI: 242.1938
• Rent YoY: ▲ 6.27%
• 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

+566.3% since first listed

6 events — show timeline

• 2026-05-22 Pending — IRMLS
• 2026-05-19 Listed $189,900 IRMLS
• 2021-10-04 Sold (MLS) $130,000 IRMLS
• 2021-08-30 Listed $125,000 IRMLS
• 2015-06-02 Sold (MLS) $21,000 IRMLS
• 2015-04-27 Listed $28,500 IRMLS

Property tax history

+7.0%/yr

Latest (2023): $1,438 · +19.7% YoY. Source: county tax records.