2022 Roger St · South Bend, IN 46628

$99,000

3 bd · 1.0 ba · 1,152 sqft · SingleFamily public records · 20 Days on market

Built 1926 6,098 sqft lot Est $84k · 18% over

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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

* Seller willing to sell on land contract * Welcome to this charming 3-bedroom, 1-bath home located in the heart of South Bend. Offering a functional floor plan and comfortable living spaces, this property is full of potential for homeowners and investors alike. The home features spacious bedrooms, a welcoming living area, and plenty of opportunity to add your personal touch.

Key facts

• 6,098 sq ft lot
• Built 1926
• Listed 20 days

Property features AI

Finance

• Other: Lot dimensions approximately 46 x 133
• Financial info: Tax amount available
• HOA & community: HOA information not provided

Exterior

• Parking: Parking information not provided
• Security: Security information not provided
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; 2 stories
• Construction: Aluminum siding; Year built not provided
• Exterior features: Level lot

Interior

• Kitchen: Kitchen details not provided
• Bedrooms: Bedrooms information not provided
• Flooring: Flooring information not provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Full unfinished basement; 7 total rooms
• 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 $99k.

Deal economics

• At list price, monthly cash flow is $405 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $99k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.2% 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 (+6.8%/yr); 424 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $684 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 20 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $97,515 (1.5% below list)

Questions for the listing agent

1. Built in 1926 — 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: 1.36% ✓
• Cap rate: 11.20%
• Cash-on-cash: 17.51%
• DSCR: 1.78
• GRM: 6.1

CMA / ARV

• ARV (on-the-fly): $84,096
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2018 Roger St	0.01mi	3/1.0	1,152 (0%)	2mo	$75,000	$65	98
1901 Linden Ave	0.22mi	3/1.0	1,073 (-7%)	0mo	$167,000	$156	78
2121 Linden Ave	0.20mi	3/1.0	1,072 (-7%)	2mo	$70,000	$65	77
740 Johnson St	0.22mi	3/1.0	1,264 (+10%)	0mo	$146,200	$116	73
2518 Rogers St	0.31mi	3/1.0	1,232 (+7%)	1mo	$90,000	$73	73
1233 Van Buren St	0.61mi	3/1.0	1,168 (+1%)	2mo	$50,000	$43	68
1310 N Brookfield St	0.69mi	3/1.0	1,092 (-5%)	2mo	$140,000	$128	57
1233 Wilber St	0.71mi	3/1.0	1,079 (-6%)	0mo	$67,490	$63	56
1234 Obrien St	0.65mi	3/1.0	1,058 (-8%)	3mo	$47,500	$45	53
1122 Fremont St	0.56mi	3/1.0	1,008 (-12%)	2mo	$120,000	$119	51
1054 Huey St	0.47mi	4/1.5 (+1)	1,288 (+12%)	2mo	$85,251	$66	50
611 Blaine Ave	0.65mi	2/1.0 (-1)	1,316 (+14%)	2mo	$162,000	$123	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 · 6.78% rent growth · sell at horizon

5-year hold

• IRR: 13.0%
• Equity multiple: 1.54×
• Total profit: $15,053
• Equity at exit: $14,761

10-year hold

• IRR: 24.6%
• Equity multiple: 3.52×
• Total profit: $69,915
• Equity at exit: $8,560

Cash invested: $27,720 (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: $1,348 high
• Mortgage (P&I): −$519
• Tax from tax record: −$100 /mo · $1,198/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $405

Break-even live

Break-even rent $836

Max offer price $99,000

Occupancy floor 65%

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: $24,750
• Closing costs: $2,970
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2203 Smith St South Bend, IN	3.0	1.0	1248	$1,215	$0.97	13d	1	0.15mi
2417 Linden Ave South Bend, IN	2.0	1.0	1000	$1,200	$1.20	43d	1	0.26mi
2010 Lincoln Way W Unit 2 South Bend, IN	3.0	1.0	1150	$1,325	$1.15	21d	1	0.33mi
2205 Lincoln Way W South Bend, IN	4.0	2.0	1440	$1,565	$1.09	13d	1	0.42mi
1054 Huey St South Bend, IN	4.0	2.0	1288	$1,550	$1.20	13d	1	0.49mi
1046 N Elmer St South Bend, IN	2.0	1.0	1050	$1,025	$0.98	21d	1	0.50mi
736 Lawndale Ave Unit 1 South Bend, IN	3.0	1.0	1072	$1,200	$1.12	13d	1	0.52mi
752 Diamond Ave South Bend, IN	3.0	1.5	1248	$1,400	$1.12	43d	1	0.60mi
1206 Johnson St South Bend, IN	3.0	1.5	1320	$1,400	$1.06	43d	1	0.63mi
1141 Fremont St South Bend, IN	3.0	1.0	760	$1,100	$1.45	21d	1	0.63mi
1314 Johnson St South Bend, IN	2.0	1.0	902	$1,150	$1.27	13d	1	0.72mi
208 S Bendix Dr South Bend, IN	3.0	1.0	864	$1,150	$1.33	21d	1	0.72mi
1118 Van Buren St South Bend, IN	3.0	1.0	1394	$1,375	$0.99	21d	1	0.73mi
1237 Wilber St South Bend, IN	2.0	1.0	880	$1,200	$1.36	43d	1	0.75mi
910 Allen St South Bend, IN	3.0	1.0	1100	$1,350	$1.23	21d	1	0.81mi
2013 Elwood Ave South Bend, IN	3.0	1.0	720	$999	$1.39	43d	1	0.83mi
2823 Calhoun St South Bend, IN	2.0	1.0	720	$1,249	$1.73	43d	1	0.88mi
1505 Huey St South Bend, IN	3.0	1.0	864	$1,425	$1.65	21d	1	0.90mi
453 S Kaley St Unit 1 South Bend, IN	2.0	1.0	1100	$1,050	$0.95	43d	1	0.90mi
1505 N Adams St South Bend, IN	3.0	1.0	1200	$1,350	$1.12	13d	1	0.92mi
2502 Ford St South Bend, IN	3.0	1.0	1176	$1,175	$1.00	43d	1	0.98mi
1201 Woodward Ave South Bend, IN	2.0	1.0	960	$1,675	$1.74	43d	1	1.00mi
1614 Fremont St South Bend, IN	2.0	1.0	720	$850	$1.18	21d	1	1.00mi
1630 Obrien St South Bend, IN	3.0	1.0	1120	$1,400	$1.25	13d	1	1.01mi
1642 Johnson St South Bend, IN	3.0	1.0	1375	$1,400	$1.02	13d	1	1.03mi
1709 Huey St South Bend, IN	2.0	1.0	720	$995	$1.38	21d	1	1.10mi
1710 Johnson St South Bend, IN	3.0	1.0	1000	$1,350	$1.35	43d	1	1.10mi
1428 Kessler Blvd South Bend, IN	3.0	1.0	936	$1,000	$1.07	43d	1	1.12mi
1317 Poland St South Bend, IN	3.0	1.0	1100	$1,300	$1.18	21d	1	1.12mi
421 S Lake St South Bend, IN	2.0	1.0	900	$1,200	$1.33	43d	1	1.13mi
1214 Queen St South Bend, IN	3.0	1.0	1056	$1,300	$1.23	13d	1	1.15mi
1308 Kinyon St South Bend, IN	2.0	1.0	700	$1,100	$1.57	43d	1	1.16mi
202 N Chicago St South Bend, IN	2.0	1.0	720	$1,055	$1.47	43d	1	1.18mi
3220 Vermont Pl South Bend, IN	2.0	1.0	725	$1,100	$1.52	13d	1	1.27mi
221 S Taylor St South Bend, IN	3.0	2.0	1178	$2,599	$2.21	13d	1	1.29mi
1918 Johnson St South Bend, IN	3.0	1.0	1200	$1,200	$1.00	13d	1	1.39mi
344 Parkovash Ave South Bend, IN	3.0	1.0	950	$1,900	$2.00	13d	1	1.42mi
1033 Beale St South Bend, IN	3.0	1.0	840	$1,250	$1.49	21d	1	1.44mi
937 Roosevelt St South Bend, IN	2.0	1.0	720	$1,060	$1.47	43d	1	1.44mi
164 S Gladstone Ave South Bend, IN	4.0	1.0	1440	$1,365	$0.95	43d	1	1.45mi

Listing history 16 events

1. 2026-06-18
   days on market $99,000 Active 20 DOM
2. 2026-06-17
   days on market $99,000 Active 19 DOM
3. 2026-06-16
   days on market $99,000 Active 18 DOM
4. 2026-06-15
   days on market $99,000 Active 17 DOM
5. 2026-06-14
   days on market $99,000 Active 15 DOM
6. 2026-06-13
   days on market $99,000 Active 14 DOM
7. 2026-06-10
   days on market $99,000 Active 12 DOM
8. 2026-06-09
   days on market $99,000 Active 11 DOM
9. 2026-06-08
   days on market $99,000 Active 10 DOM
10. 2026-06-07
    days on market $99,000 Active 9 DOM
11. 2026-06-03
    days on market $99,000 Active 5 DOM
12. 2026-06-02
    days on market $99,000 Active 4 DOM
13. 2026-06-01
    days on market $99,000 Active 3 DOM
14. 2026-05-31
    days on market $99,000 Active 2 DOM
15. 2026-05-30
    remarks 379-char remark
16. 2026-05-30
    listed $99,000 Active 1 DOM

ⓘ 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: $1,198 · $100/mo
• Projected year-2 tax: $1,198 · $100/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: $16,174
• − Mortgage interest: −$5,546
• − Property taxes: −$1,198
• − Insurance: −$495
• − Repairs & maintenance: −$1,294
• − Management: −$1,294
• − Depreciation: −$2,880
• Taxable income: $3,468
• Est. tax owed @ 24.0%: −$832
• After-tax cash flow: $4,023/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

1 event — show timeline

• 2026-05-29 Listed $99,000 IRMLS

Property tax history

-6.9%/yr

Latest (2024): $1,198 · -1.5% YoY. Source: county tax records.