1518 Miami Street South Bend, IN 46613
MULTI_FAMILY - South Bend, IN
- Added:
- May 19, 2026
- Days on Market:
- 57
- Last Refresh:
- Jul 14 at 12:06 am
Property Features for 1518 Miami Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Bedrooms
- 2
- Bathrooms
- 2
- Rooms
- Bedroom 1, Basement, Bedroom 2, Bathroom 1, Bathroom 2
- Parking
- 2
- Basement
- Block
- Standard status
- Active
- APN
- 71-09-18-157-003.000-026
- Size
- 651 SF
- Lot size
- 0.12 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- LOT 73 EX 1 FT S SIDE LEERS 2ND REPLAT
- Tax Annual Amount
- 1068
Building Details
- Year built
- 1922
- Number of units
- 1
- Flooring type
- Tile, Laminate, Wood
Listing agent Cat Zmud License #RB24000014 (574) 485-7197
Listing office Weichert Rltrs-J.Dunfee&Assoc. 54500 N Ironwood Rd, South Bend, IN (574) 277-7444
Listing date May 19, 2026
Copyright © 2026 Greater South Bend-Mishawaka Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
The property is located in South Bend, Indiana (46613-2840) near Crooked Ewe, the South Bend Farmers Market, Ivy Tech, Witches BrewPub, and LangLab. This placement provides a connected setting to nearby established destinations and local activity.
With a compact building size and a dual configuration of storefront plus residential unit, the property may appeal to buyers seeking a single-site setup for combined retail and living arrangements.
Key Highlights
- Mixed‑use property built in 1922 with a storefront plus an attached 2‑bedroom apartment
- Flooring includes tile, wood, and laminate
- Off‑street parking for 2 vehicles
Local Financial Insights For Mixed Use
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $12.9k | $19.80 |
| − Vacancy | −$1.4k | −$2.08 |
| EGI | $11.5k | $17.72 |
| − OpEx | −$4.3k | −$6.65 |
| NOI | $7.2k | $11.08 |
