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Rent to Own Homes in Mishawaka
Affectionately known as the Princess City, Mishawaka is a charming town adjacent to bustling South Bend. The small Indiana city is known for excellent Mishawaka public schools, the scenic St. Joseph River and prime recreation facilities. For all of its superb neighborhoods, schools and entertainment, the city earned a spot on Businessweek’s 2010 list of the “Best Places to Raise Your Kids.”
Mishawaka began as an iron works enterprise that drew many people to the area, prompting the establishment of the Mishawaka post office in 1833. With this influx of residents, more industries sprang up, including local 19th-century legends Mishawaka Woolen and Ball Band and, later, the car industry in 1906. Today, Mishawaka cars are varied, thanks to AM General’s Mishawaka plant. The plant manufactures vehicles such as the Hummer, Mercedes models and the MV-1 taxicab. Mishawaka’s business sector also includes dozens of transportation and logistics companies, advanced manufacturing, life science and international organizations.
From plentiful employment and schools to lively parks and entertainment, Mishawaka offers all the necessities for a fulfilling life. The below results are primarily rent to own homes in St. Joseph County, IN:
Affectionately known as the Princess City, Mishawaka is a charming town adjacent to bustling South Bend. The small Indiana city is known for excellent Mishawaka public schools, the scenic St. Joseph River and prime recreation facilities. For all of its superb neighborhoods, schools and entertainment, the city earned a spot on Businessweek’s 2010 list of the “Best Places to Raise Your Kids.”
Mishawaka began as an iron works enterprise that drew many people to the area, prompting the establishment of the Mishawaka post office in 1833. With this influx of residents, more industries sprang up, including local 19th-century legends Mishawaka Woolen and Ball Band and, later, the car industry in 1906. Today, Mishawaka cars are varied, thanks to AM General’s Mishawaka plant. The plant manufactures vehicles such as the Hummer, Mercedes models and the MV-1 taxicab. Mishawaka’s business sector also includes dozens of transportation and logistics companies, advanced manufacturing, life science and international organizations.
From plentiful employment and schools to lively parks and entertainment, Mishawaka offers all the necessities for a fulfilling life.
Buying a Home in Mishawaka
Good value and variety are the hallmarks of Mishawaka homes. There are about 150 homes on the market at any given time in the area, ranging from 1930s bungalows to new construction. With this variety and a median price of $103,000 for a three-bedroom home, house hunters find many affordable options in the area. More than half of the area’s homes are owned, but 42 percent are rentals. This gives homebuyers many opportunities to explore rent-to-own options.
Buying a home here is made easier with several local, state and federal homebuyer assistance programs. The city administers its own lease-to-own program for eligible residents, providing downpayment assistance and generous terms. There are also regular FHA downpayment assistance programs for first-time homebuyers and up to $5,000 in grants for other homebuyers.
Popular Neighborhoods in Mishawaka
The Winding Brook neighborhood is a perennial local favorite for its family-friendly atmosphere, active association and beautiful traditional homes. The community is known for its elaborate neighborhood holiday light displays and picturesque streets. Househunters looking for vintage, turn-of-the-century homes with plenty of character enjoy The Oaks neighborhood. Homes in this neighborhood are close to Battell Park and the River Walk Trail, so recreation is plentiful. If you’re looking for newer construction, several recent subdivisions like Rosetta Place provide ample options.
Buying vs. Rent to Own Homes
Renting to own a home eliminates many of the financial, timing and credit stresses of buying a home. Unlike a conventional home purchase, rent to own homes give you time to correct poor credit records and build up a sufficient downpayment. These flexible arrangements also allow you to move into the home right away, making monthly rent and rental premium payments that contribute to your final purchase. Also, credit requirements are generally more relaxed with rent-to-own properties. These arrangements are especially helpful to first-time homebuyers and those with less-than-perfect credit histories.
Summary
Mishawaka is the quintessential hometown. In the north, it boasts a bustling business and lifestyle district. In the center of town, the picturesque St. Joseph River flows east to west, surrounded by some of the city’s most popular neighborhoods. These neighborhoods are filled with craftsman bungalows, traditional two-story homes and contemporary houses. Half of the homes on the market cost less than $100,000, making homeownership reachable for many Mishawaka residents.
Rent To Own Labs provides a diverse set of real estate listings, including rent to own (“lease to own” or “lease purchase”), owner financing, foreclosed, for sale by owner, and rental home opportunities. These listings are available to low-income residents and those with bad credit or no credit, and include both condos & houses. Rent to own homes near me include the list of zip codes we serve in this area:
- 46546
- 46545
- 46544