Back to Search
Property profile & analytics
OFF-MARKET
Estimated value
$585,000
Banks
223 Ireland Rd South Bend, IN 46614-2505
Individually Owned
9-yr Hold
Free & Clear
Property ID
US31-2235583
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Year built
2018
Construction
WOOD
Total area
6,468 SF
Lot
1.6 ac (69,909 SF)
APN
71-08-25-151-014.000-002
UPID
US31-2235583
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
James Kist - Mortgage Advisor - United Federal Credit Union Loan Service Bank
-
Kim Greene - Mortgage Advisor - United Federal Credit Union Loan Service Bank
-
United Federal Credit Union - Ireland Road Credit Union
-
Rhett Lehman - Mortgage Advisor - United Federal Credit Union Loan Service Bank
-
United Way Community Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$500k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$667k
Blend (final)
Blend
$585k
Owner & transaction history
United Federal Credit Union · 9 yrs held
United Federal Credit Union
since 2017
2 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Apartment house (5+ units)
$555,000
+3.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs South Bend submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs South Bend submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
$500,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
FINANCIAL BUILDING
$535,000
Current use
APARTMENT HOUSE (5+ UNITS)
$555,000
Change: +4% · Conversion: Difficult
COMMERCIAL (GENERAL)
$515,000
Change: -3% · Conversion: Difficult
RESTAURANT
$480,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$585k
Range $527k – $644k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$90 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$35,302
Tax year 2023
Assessed value
$1,043,200
Assessed 2023
Previous assessed
$1,043,200
+0.0% YoY
Effective rate
3.38%
On assessed value
Assessed land
$208,600
Assessed improvement
$834,600
Land market value
$208,600
Improvement market value
$834,600
Total market value
$1,043,200
Applied tax rate
2.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Banks
Use group
FINANCIAL BUILDING
Status
Off-Market
Year built
2018
Construction
WOOD
Heating
NONE
Stories
1
Total area
6,468 SF
Lot
1.6 ac (69,909 SF)
APN
71-08-25-151-014.000-002
UPID
US31-2235583
Jurisdiction
ST JOSEPH
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
FINANCIAL BUILDING Current
Est. value
$535,000
APARTMENT HOUSE (5+ UNITS)
Est. value
$555,000
COMMERCIAL (GENERAL)
Est. value
$515,000
RESTAURANT
Est. value
$480,000
FINANCIAL BUILDING Current
APARTMENT HOUSE (5+ UNITS)
COMMERCIAL (GENERAL)
RESTAURANT
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2018
Construction
WOOD
Heating
NONE
Stories
1
Lot
1.6 ac
Current owner
From public records · entity-resolved
United Federal Credit Union
Individual
Free & Clear · 9 yrs held
Mailing address
2807 S STATE ST, SAINT JOSEPH, MI 49085-2454
Ownership since
2017
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 17, 2017
$625,000
United Federal Credit Union
Gates & Gates Realty LLC
Foreclosure
related
—
Dec 20, 2013
—
City Of South Bend
Gates & Gates Realty LLC
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
You own 223 Ireland Rd?
List it free. Reach 20,000 daily buyers.
We’ve already pulled the facts. Confirm photos + price and you’re live in 2 minutes.
List this address →
Full reports are paid
Unlock the full Property Analytics report
Start free for 7 days — no card required. Full owner contacts, all 4 valuations with methodology, refine flow, comparable adjustments, foot-traffic deep dive, export to PDF / CSV.
