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Vishal Didwania
  • Chicago, IL
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Advice about my first SFR purchase in South Bend

Vishal Didwania
  • Chicago, IL
Posted Oct 5 2017, 15:37

Hello all, I recently went to South Bend over this past weekend and looked at a handful of SFRs. Some were in better shape than others. I'm looking at a place west of downtown and Marion street between Colfax and Route 20 that was built in 1999 and that is a 3 bed, 1 bath that is selling for $50k and probably will get rent of around $700/mo and currently getting $605/mo. tenant is M2M. It is about 2.5 miles from Notre Dame. Property tax around $600. I think the price is a little high for the location and time it has been on the market. I would appreciate some help from others in terms of if this is a reasonable area to invest, typical rents for this location, and what would be a reasonable purchase price assuming no major rehab ~5k?

Thank you!

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