Real Estate Investing in South Bend, Indiana (46635)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 46635 (South Bend, IN)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 9.6% vacancy may signal weakening demand.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in South Bend, IN (46635)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 46635 South Bend
This part of Saint Joseph County is not an easy win. The 46635 ZIP records softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Distressed markets are won on execution, not on spreadsheets. ZIP 46635 reports the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
The gap between 46635 and stronger South Bend ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Demographically, 46635 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
New investors are better served looking at South Bend's stable or hybrid ZIPs before stepping into 46635. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in South Bend:
Property Strategy for 46635
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $187,664 | $1,200 | 4.6% | +9.8% | $93,832 |
| 3BR | $237,552 | $1,460 | 4.4% | +9.2% | $79,184 |
| 4BR | $276,932 | $1,590 | 4.1% | +8.9% | $69,233 |
| 5BR | $334,503 | — | — | +8.5% | $66,901 |
Market Trends
Home Value History (with trend line)
📊 How Does 46635 Compare?
| Metric | 46635 | South Bend | Indiana |
|---|---|---|---|
| Home Value | $272,359 | $186,529 | $248,442 |
| 5-Year CAGR | 7.9% | 8.7% | 7.7% |
| Avg Rent | $1,080 | $1,233 | - |
| Cap Rate | 3.1% | 5.2% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 46635 (South Bend, IN). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $272,359 |
| Monthly Rent | $1,080 |
| Price-to-Rent | 21.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.8% |
| Cap Rate | 3.1% |
| 5-Year IRR | 11.0% |
📈 Home Appreciation
| 1-Year | +9.9% ▲ |
| 3-Year CAGR | +6.6% ▲ |
| 5-Year CAGR | +7.9% ▲ |
| 10-Year CAGR | +8.4% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (7.0%) exceeds the estimated cap rate (3.1%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 46635
Population: 6,552
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 46635
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Clay High School
Clay International Academy
Darden Elementary School
Edison Middle School
Jefferson Traditional School
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,262 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How expensive is real estate in South Bend, IN?
Median home price in South Bend, IN is near $272K, with a 5-year CAGR of 0.0%. Prices have been stable and supportive of buy-and-hold strategies.
Which investment style suits South Bend, IN?
Investors usually favor careful cash-flow rentals with hands-on management in South Bend, IN. With home values at $272K and rents near $1,080/mo, other strategies can work but produce measured rather than outsized returns.
Is the tenant base reliable in South Bend, IN?
The renter base in South Bend, IN is reasonable for the $1,080/mo price point. Screening well and pricing to market typically yields consistent tenants.
Is IN a landlord-friendly state?
Landlord-friendliness in South Bend, IN is landlord-friendly. Eviction timelines and lease enforcement are considered reasonable by most property managers.
Is vacancy a concern in South Bend, IN?
Rental vacancy in South Bend, IN is elevated. Investors should budget normal turnover but not chronic empty units.
You know 46635 now. You don’t know where it ranks.
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How 46635 ranks in South Bend-Mishawaka, IN-MI
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