1601 Magnolia St · South Bend, IN 46613

$145,000

3 bd · 1.0 ba · 1,152 sqft · SingleFamily public records · 89 Days on market

Built 1941 4,510 sqft lot Est $123k · 18% 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 +14.6/30.0
• DSCR +4.5/10.0
• 1% rule +4.0/10.0
• Rent growth +3.5/5.0
• Livability +3.2/5.0
• Condition / age +2.5/5.0
• Schools +1.4/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Property is insurable. Property is insurable- repair escrow $2585.00 Include, all HUD-acquired properties are sold "AS-IS", and Agents with active NAID#s can submit offers at www. HUDHOMESTORE.com. HUD case #151-624719. Equal Housing Opportunity.

Key facts

• Formal dining room
• Access to the garage
• Open living area

Tags

• OPEN LIVING AREA
• FORMAL DINING ROOM
• GAS STOVE
• UPDATED BATHROOM
• CLEAN AND DRY BASEMENT
• ACCESS TO THE GARAGE

Property features AI

Finance

• Other: Property listed by Century 21 Circle

Exterior

• Parking: Attached garage (1 car); Concrete driveway/parking; Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence, site-built; 2 stories
• Construction: Vinyl siding; Block foundation; Asphalt roof; Built as site-built home
• Exterior features: Deck; Corner lot

Interior

• Kitchen: Gas cooktop; Gas range; Refrigerator
• Bedrooms: Total of 6 rooms (bedroom count not specified)
• Flooring: Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; No cooling
• Interior features: Laminate counters; Full basement
• Laundry & utility: Washer; Dryer; Laundry located in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $35 ($421/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (10.2% below list).
• Recommended offer: $130k (10.2% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: Monroe Elementary School (math 8% / reading 2%, grade F, #970 of 994 statewide, top 99%, 418 students, 90% FRL); Jackson Middle School (math 3% / reading 8%, grade F, #326 of 330 statewide, top 99%, 528 students, 82% FRL); Riley High School (math 19% / reading 46%, grade F, #293 of 369 statewide, top 80%, 992 students, 67% FRL).
• Market conditions: Rents rising fast (+4.1%/yr); 77 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 754 units permitted in St. Joseph County in 2024 (460 in 5+ unit buildings).
• This rent runs 37% 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 $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 89 days — a 6% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $8k; list at $145k implies a 1695% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1941 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $130,140 (10.2% below list)

Questions for the listing agent

1. It's been on market 89 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1941 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.90% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.04%
• DSCR: 1.05
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $123,264
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1413 W Indiana Ave	0.13mi	3/1.0	1,030 (-11%)	5mo	$115,500	$112	72
1778 Prairie Ave	0.23mi	2/1.0 (-1)	1,122 (-3%)	9mo	$37,500	$33	72
1819 Magnolia St	0.17mi	3/1.0	1,284 (+12%)	1mo	$164,900	$128	72
1701 Nash St	0.12mi	3/1.0	1,272 (+10%)	7mo	$165,000	$130	71
712 W Calvert St	0.73mi	3/1.0	1,152 (0%)	1mo	$154,000	$134	65
1919 S Carlisle St	0.50mi	2/1.0 (-1)	1,105 (-4%)	0mo	$80,000	$72	65
827 Kosciuszko St	0.60mi	3/2.0	1,224 (+6%)	9mo	$85,000	$69	50
2009 Catalpa St	0.61mi	3/1.5	1,272 (+10%)	5mo	$52,500	$41	48
1530 Fisher St	0.60mi	3/1.0	984 (-15%)	1mo	$105,000	$107	47
827 S Brookfield St	0.67mi	3/1.0	1,000 (-13%)	2mo	$79,999	$80	45
2124 Kemble Ave	0.63mi	2/1.5 (-1)	1,248 (+8%)	8mo	$158,000	$127	43
811 Pulaski St	0.64mi	2/1.0 (-1)	1,032 (-10%)	7mo	$52,525	$51	42

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: 0.51×
• Total profit: $-19,820
• Equity at exit: $21,620

10-year hold

• IRR: -2.9%
• Equity multiple: 0.79×
• Total profit: $-8,332
• Equity at exit: $12,537

Cash invested: $40,600 (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: 9.3×

Monthly cashflow live

• Estimated rent: $1,301 high
• Mortgage (P&I): −$760
• Tax from tax record: −$172 /mo · $2,067/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$273
• Net cashflow: $35

Break-even live

Break-even rent $1,257

Max offer price $145,000

Occupancy floor 92%

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1909 Swygart Ave South Bend, IN	2.0	1.0	720	$1,100	$1.53	13d	1	0.28mi
1928 S Walnut St South Bend, IN	2.0	1.0	700	$1,150	$1.64	44d	1	0.30mi
2002 Catalpa Ave South Bend, IN	3.0	1.0	1424	$1,250	$0.88	21d	1	0.63mi
1317 Poland St South Bend, IN	3.0	1.0	1100	$1,300	$1.18	21d	1	0.76mi
1920 S Scott St South Bend, IN	2.0	1.0	816	$1,000	$1.23	13d	1	0.79mi
2102 S Scott St South Bend, IN	3.0	1.0	768	$1,250	$1.63	44d	1	0.82mi
2502 Ford St South Bend, IN	3.0	1.0	1176	$1,175	$1.00	44d	1	0.98mi
453 S Kaley St Unit 1 South Bend, IN	2.0	1.0	1100	$1,050	$0.95	44d	1	1.20mi
3220 Vermont Pl South Bend, IN	2.0	1.0	725	$1,100	$1.52	13d	1	1.32mi
202 E Calvert St South Bend, IN	2.0	1.0	1000	$999	$1.00	21d	1	1.32mi
208 S Bendix Dr South Bend, IN	3.0	1.0	864	$1,150	$1.33	21d	1	1.42mi
214 Altgeld St South Bend, IN	2.0	1.0	950	$1,200	$1.26	21d	1	1.43mi
221 S Taylor St South Bend, IN	3.0	2.0	1178	$2,599	$2.21	13d	1	1.43mi
317 E Indiana Ave South Bend, IN	3.0	1.0	1344	$1,200	$0.89	21d	1	1.43mi
237 E Victoria St South Bend, IN	3.0	1.0	840	$995	$1.18	44d	1	1.48mi

Listing history 26 events

1. 2026-06-18
   days on market $145,000 Active 89 DOM
2. 2026-06-17
   days on market $145,000 Active 88 DOM
3. 2026-06-16
   days on market $145,000 Active 87 DOM
4. 2026-06-15
   days on market $145,000 Active 86 DOM
5. 2026-06-14
   days on market $145,000 Active 84 DOM
6. 2026-06-13
   days on market $145,000 Active 83 DOM
7. 2026-06-10
   days on market $145,000 Active 81 DOM
8. 2026-06-09
   pricedays on market $145,000 Active 80 DOM
9. 2026-06-08
   days on market $149,000 Active 79 DOM
10. 2026-06-07
    days on market $149,000 Active 78 DOM
11. 2026-06-03
    days on market $149,000 Active 74 DOM
12. 2026-06-02
    days on market $149,000 Active 73 DOM
13. 2026-06-01
    days on market $149,000 Active 72 DOM
14. 2026-05-31
    days on market $149,000 Active 71 DOM
15. 2026-05-30
    days on market $149,000 Active 70 DOM
16. 2026-05-18
    status Active
17. 2026-05-07
    status Pending
18. 2026-05-07
    historical
19. 2026-04-10
    status Pending
20. 2026-03-03
    status Active
21. 2025-12-08
    price $149,000
22. 2025-09-22
    status Active
23. 2025-08-18
    status Pending
24. 2025-07-31
    listed $155,000 Active
25. 2015-10-23
    soldstatus $8,077 256-char remark

    Show marketing remark (256 chars)

    Property is insurable. Property is insurable- repair escrow $2585.00 Include, all HUD-acquired properties are sold "AS-IS", and Agents with active NAID#s can submit offers at www. HUDHOMESTORE.com. HUD case #151-624719. Equal Housing Opportunity.

26. 2015-06-25
    listed $8,000 256-char remark

    Show marketing remark (256 chars)

    Property is insurable. Property is insurable- repair escrow $2585.00 Include, all HUD-acquired properties are sold "AS-IS", and Agents with active NAID#s can submit offers at www. HUDHOMESTORE.com. HUD case #151-624719. Equal Housing Opportunity.

ⓘ 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: $2,067 · $172/mo
• Projected year-2 tax: $2,067 · $172/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 4/10 Moderate FEMA zone X (unshaded) · 20% 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: $15,617
• − Mortgage interest: −$8,122
• − Property taxes: −$2,067
• − Insurance: −$725
• − Repairs & maintenance: −$1,249
• − Management: −$1,249
• − Depreciation: −$4,218
• Taxable loss: −$2,014
• Est. tax savings @ 24.0%: +$483
• After-tax cash flow: $904/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

+1762.5% since first listed

11 events — show timeline

• 2026-05-18 Relisted — IRMLS
• 2026-05-07 Pending — IRMLS
• 2026-05-07 Delisted — IRMLS
• 2026-04-10 Pending — IRMLS
• 2026-03-03 Relisted — IRMLS
• 2025-12-08 Price Changed $149,000 IRMLS
• 2025-09-22 Relisted — IRMLS
• 2025-08-18 Pending — IRMLS
• 2025-07-31 Listed $155,000 IRMLS
• 2015-10-23 Sold (MLS) $8,077 IRMLS
• 2015-06-25 Listed $8,000 IRMLS

Property tax history

+14.9%/yr

Latest (2023): $2,067 · +16.1% YoY. Source: county tax records.