602 N Frances St South Bend, IN 46617
Northeast South Bend NeighborhoodEstimated payment $4,799/month
Highlights
- Open Floorplan
- Backs to Open Ground
- Stone Countertops
- Cody Elementary School Rated A
- Corner Lot
- Community Fire Pit
About This Home
Rare fully renovated triplex less than a to mile Notre Dame - offering exceptional short-term rental potential in a rapidly developing, high-growth area. This turnkey investment features three versatile units—a 1 bedroom/1 bath, a 2 bedroom/1 bath, and an expansive 1,300+ sq. ft. 3 bedroom/2 bath second-story unit with full living and dining rooms. The property has been completely updated inside and out with new exterior paint, roof, soffits, fascia, gutters, lighting, concrete patio, fenced yard, and gas fire pit on a timer. Major mechanicals have been updated as well, including all new AC units installed in 2022, water heaters replaced within the last five years, furnaces within the last six years. The main floor was fully gutted in 2022 with new drywall, windows, flooring, redesigned kitchens with granite countertops, new cabinets, appliances, tile, lighting, and fully updated bathrooms. The upstairs was renovated in 2025, adding a second full bathroom, expanding the kitchen, and installing new cabinets, appliances, butcher-block countertops, tile flooring, and updated fixtures. A full basement provides ideal storage plus a washer and dryer to support efficient short term rental turnover. A portion of the lot offers potential for added parking or a secondary building, enhancing future rental income possibilities. With steady cash flow, flexible unit layouts, and comprehensive renovations already completed, this property is ready to generate income for an investor from day one. Listing agent has financial interest in property.
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $2,531
Year Built
- Built in 1929
Lot Details
- 3,510 Sq Ft Lot
- Lot Dimensions are 27x130
- Backs to Open Ground
- Fenced Yard
- Property is Fully Fenced
- Wood Fence
- Corner Lot
Home Design
- Triplex
- Brick Exterior Construction
- Shingle Roof
Interior Spaces
- 2-Story Property
- Open Floorplan
- Ceiling Fan
- Pocket Doors
- Fire and Smoke Detector
- Stone Countertops
- Laundry in Bathroom
Flooring
- Carpet
- Tile
- Vinyl
Bedrooms and Bathrooms
- 6 Bedrooms
- 4 Full Bathrooms
Unfinished Basement
- Basement Fills Entire Space Under The House
- Laundry in Basement
Parking
- Public Parking
- On-Street Parking
Outdoor Features
- Patio
Schools
- Nuner Elementary School
- Jefferson Middle School
- Adams High School
Utilities
- Forced Air Heating and Cooling System
- Heating System Uses Gas
- Gas Water Heater
Listing and Financial Details
- The owner pays for cooling, electric, fuel, heating, lawn maintenance, maintenance, sewer, snow removal, tax, trash collection, water
- Assessor Parcel Number 71-08-01-432-027.000-026
Community Details
Overview
- 3 Units
Amenities
- Community Fire Pit
- Community Storage Space
Pet Policy
- Pets Allowed with Restrictions
Building Details
- 2 Separate Electric Meters
- 2 Separate Gas Meters
- 2 Separate Water Meters
- Electric Expense $2,620
- Fuel Expense $1,703
- Insurance Expense $4,697
- Maintenance Expense $6,775
- Water Sewer Expense $1,246
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $2,565 | $101,900 | $7,200 | $94,700 |
| 2023 | $2,090 | $102,200 | $7,200 | $95,000 |
| 2022 | $2,090 | $87,100 | $7,200 | $79,900 |
| 2021 | $1,340 | $55,700 | $4,700 | $51,000 |
| 2020 | $1,230 | $51,100 | $100 | $51,000 |
| 2019 | $1,026 | $51,100 | $100 | $51,000 |
| 2018 | $1,323 | $55,400 | $4,700 | $50,700 |
| 2017 | $1,335 | $53,400 | $4,700 | $48,700 |
| 2016 | $1,345 | $52,700 | $4,000 | $48,700 |
| 2014 | $1,385 | $53,000 | $4,000 | $49,000 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 12/02/2025 12/02/25 | For Sale | $874,900 | +660.8% | $321 / Sq Ft | |
| 01/03/2018 01/03/18 | Sold | $115,000 | 0.0% | $28 / Sq Ft | View Prior Sale |
| 12/01/2017 12/01/17 | Pending | -- | -- | -- | |
| 11/27/2017 11/27/17 | For Sale | $115,000 | -- | $28 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $115,000 | Drake Andrew R | |
| Warranty Deed | -- | None Listed On Document | |
| Deed | -- | Metropolitan Title | |
| Warranty Deed | -- | -- | |
| Corporate Deed | -- | None Available |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $86,250 | New Conventional |
Source: Indiana Regional MLS
MLS Number: 202547822
APN: 71-08-01-432-027.000-026
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