1212 E Lasalle Ave · South Bend, IN 46617

$79,900

3 bd · 1.5 ba · 1,152 sqft · SingleFamily public records · 10 Days on market

Built 1923 9,583 sqft lot $69/sqft · 56% below area

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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 +7.5/15.0
• Rent growth +3.3/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• Appreciation +0.0/10.0

Listing remarks

Investor Alert! Don’t miss this exceptional fixer-upper on LaSalle Ave—a charming 3-bedroom home perched high on a stately hill, boasting a regal curb appeal and tremendous upside potential. This property is an ideal opportunity for investors eager to rehab and either live in, flip for profit, or hold as a rental to grow their portfolio. Inside, you’ll find a well-sized kitchen, a dining area perfect for gatherings, and a spacious living room on the main floor. Upstairs offers three nicely sized bedrooms and full bathroom, ready to be transformed to meet modern tastes. Please note: Highest and best offers will be reviewed by 5 PM on Monday, 5/11/26. The seller is accepting

Key facts

• 9,583 sq ft lot
• Built 1923
• Listed 10 days

Property features AI

Finance

• Other: No additional financial details provided
• Financial info: Financial specifics not provided
• HOA & community: No HOA information provided

Exterior

• Parking: Parking details not provided
• Security: No security features listed
• Utilities: Public water; Public sewer
• Home design: Single-family residence, site-built; 2 stories
• Construction: Aluminum siding; Construction details beyond materials not provided
• Exterior features: Shingle roof; Lot roughly 50 x 202 (0.22 acre); Zoned SN1 Suburban Neighborhood

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Bedrooms present (exact count not provided)
• Flooring: Flooring details not provided
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced-air heating; No cooling system
• Interior features: Full basement; 9 total rooms
• Laundry & utility: Laundry on lower level

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $691 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Cap rate 16.7% 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: Nuner Fine Arts Academy (math 8% / reading 12%, grade F, #921 of 994 statewide, top 94%, 479 students, 90% FRL); Jefferson Traditional School (math 12% / reading 22%, grade F, #284 of 330 statewide, top 87%, 516 students, 64% FRL); Adams High School (math 28% / reading 57%, grade F, #195 of 369 statewide, top 53%, 1,976 students, 56% FRL) — zoned schools at 70% FRL track the district average.
• Market conditions: Rents rising (+3.3%/yr); 140 active listings in the ZIP; 23 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• At projected returns (-3.0% appreciation + 3.3% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,900

Questions for the listing agent

1. Built in 1923 — 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: 1.84% ✓
• Cap rate: 16.67%
• Cash-on-cash: 37.07%
• DSCR: 2.65
• GRM: 4.5

CMA / ARV

• ARV (median comp): $181,917
• List price: $79,900
• Delta: -56.08%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1212 E Lasalle Ave	0.00mi	3/1.0	1,152 (0%)	1mo	$90,000	$78	97
1245 E Madison St	0.15mi	2/1.0 (-1)	1,232 (+7%)	7mo	$130,000	$106	69
1605 E Madison St	0.47mi	3/1.0	1,211 (+5%)	0mo	$320,100	$264	67
228 N Sunnyside Ave	0.14mi	3/1.5	1,296 (+12%)	8mo	$191,500	$148	66
209 N Sunnyside Ave	0.13mi	2/1.0 (-1)	1,316 (+14%)	1mo	$240,000	$182	62
723 N Frances St	0.46mi	4/2.0 (+1)	1,215 (+6%)	3mo	$229,500	$189	60
726 Turnock St	0.55mi	3/2.0	1,265 (+10%)	2mo	$175,000	$138	55
1740 Rockne St	0.70mi	3/2.0	1,200 (+4%)	7mo	$230,000	$192	53
730 Corby Blvd	0.65mi	3/2.0	1,262 (+10%)	1mo	$585,000	$464	51
1522 Mckinley Ave	0.41mi	2/1.0 (-1)	1,296 (+12%)	6mo	$216,000	$167	48
1334 Chalfant St	0.44mi	4/2.0 (+1)	1,320 (+15%)	5mo	$235,000	$178	44
206 N Coquillard Dr	0.74mi	2/1.0 (-1)	989 (-14%)	3mo	$260,000	$263	33

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 · 3.3% rent growth · sell at horizon

5-year hold

• IRR: 33.3%
• Equity multiple: 2.41×
• Total profit: $31,483
• Equity at exit: $11,913

10-year hold

• IRR: 40.4%
• Equity multiple: 4.84×
• Total profit: $85,810
• Equity at exit: $6,908

Cash invested: $22,372 (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 46617

• Rents YoY: 3.3%
• Active inventory: 140
• Price-to-rent: 4.5×

Monthly cashflow live

• Estimated rent: $1,469 high
• Mortgage (P&I): −$419
• Tax from tax record: −$17 /mo · $204/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$308
• Net cashflow: $691

Break-even live

Break-even rent $594

Max offer price $79,900

Occupancy floor 48%

Sensitivity live

Price	-10% $736	-5% $714	+0% $691	+5% $668	+10% $646
Rent	-10% $575	-5% $633	+0% $691	+5% $749	+10% $807
Rate	-1.0pp $731	-0.5pp $711	base $691	+0.5pp $670	+1.0pp $649

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 23 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
913 E Washington St South Bend, IN	4.0	1.5	1312	$1,295	$0.99	22d	1	0.29mi
911 E Washington St South Bend, IN	3.0	1.0	886	$1,195	$1.35	15d	1	0.30mi
1009 E Jefferson Blvd South Bend, IN	2.0	1.0	770	$1,049	$1.36	22d	1	0.30mi
1234 Bissell St South Bend, IN	2.0	1.0	704	$1,249	$1.77	45d	1	0.37mi
1222 Chalfant St South Bend, IN	3.0	1.0	992	$1,300	$1.31	45d	1	0.42mi
1018 S Bend Ave South Bend, IN	2.0	1.0–2.0	836	$2,950	$3.53	15d	27	0.54mi
300 E Lasalle Ave South Bend, IN	3.0	1.0–3.0	1013	$3,009	$2.97	15d	31	0.72mi
307 E Lasalle Ave South Bend, IN	1.0–2.0	1.0–2.0	925	$1,670	$1.80	15d	22	0.77mi
716 N Niles Ave South Bend, IN	1.0–2.0	1.0–2.0	732	$1,750	$2.39	15d	11	0.79mi
1145 N Eddy St South Bend, IN	3.0	1.0–3.0	959	$4,377	$4.56	45d	1	0.82mi
125 W Marion St South Bend, IN	2.0	1.0	672	$1,350	$2.01	15d	5	0.98mi
211 W Washington St South Bend, IN	3.0	1.0–2.5	1162	$7,491	$6.44	22d	19	1.02mi
122 E Pokagon St South Bend, IN	2.0	1.0	1200	$1,500	$1.25	15d	1	1.26mi
754 S 23rd St South Bend, IN	3.0	1.0	884	$1,300	$1.47	45d	1	1.26mi
1126 E Broadway St South Bend, IN	4.0	2.0	1492	$1,365	$0.91	22d	1	1.30mi
221 S Taylor St South Bend, IN	3.0	2.0	1178	$2,599	$2.21	15d	1	1.31mi
427 S 27th St South Bend, IN	2.0	1.0	840	$950	$1.13	45d	1	1.32mi
819 S 24th St South Bend, IN	3.0	2.0	1480	$1,795	$1.21	45d	1	1.32mi
1106 S 20th St South Bend, IN	1.0–3.0	1.0–2.0	885	$1,200	$1.36	15d	1	1.36mi
1512 Rosemary Ln South Bend, IN	2.0	1.0	910	$1,138	$1.25	22d	1	1.39mi
1149 E Indiana Ave South Bend, IN	4.0	2.0	1344	$1,200	$0.89	15d	1	1.40mi
526 S 28th St South Bend, IN	2.0	1.0	1000	$1,350	$1.35	15d	1	1.43mi
344 Parkovash Ave South Bend, IN	3.0	1.0	950	$1,900	$2.00	15d	1	1.46mi

Listing history 3 events

1. 2026-05-11
   status Pending 966-char remark
2. 2026-05-01
   listed $79,900 Active 966-char remark
3. 2026-03-18
   soldstatus $42,500

ⓘ 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: $204 · $17/mo
• Projected year-2 tax: $442 · $37/mo
• Expected delta: +$237/yr (+$20/mo · 116.1%)

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

Taxation est. · year 1

• Rental income: $17,626
• − Mortgage interest: −$4,476
• − Property taxes: −$204
• − Insurance: −$400
• − Repairs & maintenance: −$1,410
• − Management: −$1,410
• − Depreciation: −$2,324
• Taxable income: $7,402
• Est. tax owed @ 24.0%: −$1,777
• After-tax cash flow: $6,516/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): 10,032
• Household income: $74,186
• Rent vs Own: 37.4% rent · 62.6% own
• Severe rent burden: 422.0

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 (68%)
• Race & ethnicity: White 68% Black 14% Hispanic / Latino 8% Two or more races 8% Asian 3%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 8% Italian 3% Lithuanian 2%
• Foreign-born: 10% · Canada, China, Dominican Republic
• Languages at home: 88% English-only · Spanish 6% Chinese 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: ▼ -163.04%
• Current HPI: 260.7904
• Rent YoY: ▲ 3.30%
• 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

+111.8% since first listed

5 events — show timeline

• 2026-05-27 Sold (Public Records) $90,000 Public Records
• 2026-05-26 Sold (MLS) $90,000 IRMLS
• 2026-05-11 Pending — IRMLS
• 2026-05-01 Listed $79,900 IRMLS
• 2026-03-18 Sold (Public Records) $42,500 Public Records

Property tax history

-3.2%/yr

Latest (2025): $204 · +2.0% YoY. Source: county tax records.