4 years of college, one smart real estate move: the ND parent investment calculator
Most parents have never actually run the numbers. Once you do, the question isn't whether buying near Notre Dame makes sense — it's why you'd ever choose not to.
There's a moment in almost every conversation I have with an ND parent buyer. It happens right after I walk them through the four-year math for the first time. There's a pause. Sometimes they ask me to run it again. Then someone usually says: "Why didn't anybody tell us this sooner?"
That moment is what this post is designed to create — for you, right now, before your student's first semester even starts.
I'm Tim Vicsik with Trueblood Real Estate, and the Notre Dame area market is my entire focus. What I've watched, year after year, is that the families who buy near campus instead of renting don't do it because they're wealthier or more financially sophisticated. They do it because someone showed them the actual numbers early enough to act on them.
This post is that conversation. We're going to build the math together — step by step — and then I'm going to hand you a calculator so you can run your own scenario right on this page.
How the four-year math actually works — step by step
Let's build this from scratch so every number is visible. No black boxes. No assumptions you can't verify. Here's how a $250,000 condo purchase near Notre Dame pencils out over four years.
Working with a $250,000 condo. With a 20% down payment, you're bringing $50,000 to the table and financing $200,000. That's your starting position.
Your monthly mortgage payment at current rates (we'll use 7.0% for a 30-year fixed, conservative for today's market) runs approximately $1,331/month in principal and interest. Add property taxes (~$175/mo), HOA fees (~$250/mo), and insurance (~$65/mo), and your total monthly cost lands around $1,821 per month.
Your student doesn't have to live alone. A well-located 2BR condo near Notre Dame commands $700–$800/month for the second bedroom from a classmate. A 3BR unit can support two roommates, bringing in $1,400–$1,600/month in total rental income.
For our base case, we'll use a 2BR with one roommate at $750/month. That income flows directly against your monthly cost.
Average rent for a comparable 2BR near Notre Dame runs $1,300–$1,500/month. We'll use $1,350. Over 48 months, that's $64,800 — completely gone, with nothing to show for it.
Owning at $1,071 effective cost over 48 months equals $51,408 total out of pocket — plus your $50,000 down payment. That's $101,408 total invested. But here's where it gets interesting: you now own an asset, not a receipt.
The Notre Dame area has appreciated at a consistent 3–5% annually in recent years, driven by limited inventory, stable university demand, and the area's strong alumni buyer pool. At a conservative 3.5% annual appreciation, your $250,000 condo grows to approximately $287,000 by graduation.
That $37,000 in appreciation happened without you lifting a finger. Your tenant's rent helped pay the mortgage. And your asset quietly grew in value the entire time.
After 48 months of payments, your mortgage balance has dropped from $200,000 to approximately $187,000 (you've paid down roughly $13,000 in principal). Your property is worth ~$287,000. Subtract the remaining mortgage and you're sitting on approximately $100,000 in equity at graduation day.
Your original down payment of $50,000 has effectively doubled — and you spent less per month than you would have renting.
Run your own numbers — the ND parent ROI calculator
The scenario above uses conservative assumptions. Your situation might look different depending on your budget, how many roommates you're comfortable with, and what the market does. Use the calculator below to build your own projection.
Want Tim to run this with real properties currently on the market?
Get a Free Personalized Estimate →The calculator uses standard mortgage math and conservative appreciation assumptions based on recent ND-area market trends. Actual results vary by property, rate environment, and market conditions. These numbers are educational illustrations — not a guarantee. For projections tied to specific available properties, reach out to Tim directly and he'll run the real numbers with you.
Three real scenarios — conservative, base, and optimistic
Not every family's situation looks the same. Here are three complete scenarios showing how the math plays out across different price points and roommate strategies. Click each tab to explore.
| Purchase price | $210,000 |
| Down payment (20%) | $42,000 |
| Monthly mortgage + taxes + HOA + ins. | $1,548/mo |
| Rental income (1 roommate) | −$700/mo |
| Effective monthly cost | $848/mo |
| Total out-of-pocket over 4 years | $40,704 |
| Estimated value at graduation (3% appreciation) | $236,400 |
| Remaining mortgage balance | ~$157,200 |
| Net equity at graduation | ~$79,200 |
| Purchase price | $250,000 |
| Down payment (20%) | $50,000 |
| Monthly mortgage + taxes + HOA + ins. | $1,821/mo |
| Rental income (1 roommate) | −$750/mo |
| Effective monthly cost | $1,071/mo |
| Total out-of-pocket over 4 years | $51,408 |
| Estimated value at graduation (3.5% appreciation) | $287,000 |
| Remaining mortgage balance | ~$187,000 |
| Net equity at graduation | ~$100,000 |
| Purchase price | $275,000 |
| Down payment (20%) | $55,000 |
| Monthly mortgage + taxes + HOA + ins. | $1,960/mo |
| Rental income (2 roommates @ $725 each) | −$1,450/mo |
| Effective monthly cost | $510/mo |
| Total out-of-pocket over 4 years | $24,480 |
| Estimated value at graduation (5% appreciation) | $334,400 |
| Remaining mortgage balance | ~$203,700 |
| Net equity at graduation | ~$130,700 |
Even in the conservative scenario, the family walks away from graduation with nearly $80,000 in equity — nearly double their original $42,000 down payment — while spending far less per month than they would have paid in rent.
The four-year timeline — what this actually looks like year by year
What happens at graduation — your three exits
List the property at graduation, collect the proceeds, and move on. This is the cleanest exit and the most common choice for parents who bought primarily for the college years.
After agent fees and closing costs (~8–9%), you're netting your equity minus those costs. Still a strong return on your original down payment.
ND-area rental demand doesn't end when your student graduates. New students, faculty, university staff, and young professionals create consistent year-round demand for well-located units.
At a $1,400–$1,600/month market rent and a ~$1,071 effective mortgage cost, you're looking at positive monthly cash flow. And the property keeps appreciating.
Notre Dame draws over 80,000 fans to campus on seven home Saturdays per year. Alumni who own near the stadium never pay $600+/night in hotel rates again.
Rent it out on away weekends, block it for home games, and treat it as your permanent South Bend base. The property pays for itself and you keep the upside.
The renters walk away from graduation with four years of receipts. The owners walk away with three options and six figures in equity.
— Tim Vicsik, Trueblood Real EstateThe one question I ask every ND parent
After going through all of this, there's one question I find myself asking in almost every parent conversation — not to pressure anyone, but because the answer genuinely tells me a lot about where someone is in their thinking.
"I'm just curious — have you ever actually run the numbers on what your out-of-pocket cost would be after rental income? Most parents I work with hadn't — and the answer surprised them. What would it take for this to feel realistic for your situation?"
The answer to that question shapes everything — which neighborhood makes sense, what price range to focus on, whether a condo or a house fits better. If you've run the calculator above and want to take the next step, the most useful thing I can do is show you what's actually on the market right now and run the real numbers against specific properties.
That's a 15-minute conversation, and it costs nothing. You can browse what's currently available at ND-Condos.com and reach out whenever you're ready.
Get a free personalized ROI estimate
Tell me your budget and what you're trying to accomplish. I'll run the numbers against real current listings and show you exactly what the math looks like for your specific situation.
Call or text Tim: 574-329-9587 · Tim@TimVicsik.com
Tim specializes in condos and homes near the University of Notre Dame, helping ND parents, alumni, and relocating buyers navigate one of the Midwest's most unique real estate markets. If you're thinking about buying near campus — for your student, for football weekends, or as a long-term investment — Tim knows this market better than anyone.
