But it's not the violence or the financial damage. It was the fact that I stopped feeling safe in my own house. That the area that I once though was friendly and safe is now filling me with dread and I was so worried about living there that year later I had to move out. That every time I heard noises in the back yard I had to get out of my bed and look out of the window. I shrugged off the financial loss of my bike very easily - but the physiological damage was much greater. Now if you asked me if I want the bike thieves to be put in prison, I would say - absolutely, positively yes. I hate and despise people who steal and I understand how deeply theft can affect a well being of a person, regardless of the value of stolen goods.
Crime occurs when penalties make it more profitable to commit the crime than not. The cost to society is paying to prosecute, reform, or lockup, people who do not adhere to the standards of the society they live in.
How about community service, at minimum wage until the work equals the value of what was stolen even if even the items were recovered? It will cost society money to manage it but it keeps the person off the street for part of the day and might teach them something useful, like being polite in a polite society
I think (this is anecdata from some bike theft victims, including myself) that there are folks who steal bikes to ride them, potentially for transportation to work/school, and those who steal bikes to sell them elsewhere.
We should find a way to deter both groups but putting someone in jail for a $300 (let's say $600 to cover some of the unintended effects you mention) probably won't stop the commercial thieves as they'll find other lackeys to do the theft.
On a more important note, I feel uncomfortable having someone locked up, costing taxpayer money, for committing a non-violent crime whose damages are less than two weeks' pay at minimum wage.