1332 Harmar St · Fort Wayne, IN 46803

$82,500

2 bd · 1.0 ba · 966 sqft · SingleFamily public records · 13 Days on market

Built 1920 3,069 sqft lot Est $102k · 19% under

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Why this score? — see what drove the A- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +29.6/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.0/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks

House is 966 square feet, 2 bed 1 bath home on a nice corner lot. Your not just buying a house, your buying revenue and a ready made rental business. Long term tenant in the property paying $825 per month. Ready to add to your portfolio, or just the first one starting your rental empire. Get in at the 1% rule, and start investing in your future. (Room Sizes are estimates, please verify)

Key facts

• 3,069 sq ft lot
• Built 1920
• Listed 13 days

Property features AI

Finance

• Other: Property located in the Hanna Samuel subdivision; Directions: East of Hanna

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family, site-built home; One story
• Construction: Aluminum siding
• Exterior features: Corner lot; Lot dimensions approximately 33 x ?

Interior

• Bathrooms: 1 full bathroom (on main level)
• Heating & cooling: Natural gas heating; No cooling
• Interior features: 5 total rooms; Main-level laundry; Basement (partial, crawl space)
• Laundry & utility: Laundry on the main level; Natural gas heating

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $297 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $82k).
• Cap rate 10.6% vs local median 4.8% in Fort Wayne — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 84/100 on livability (#6 in IN, #676 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime C-, employment D+.
• Fort Wayne Community Schools (urban): math 22% / reading 29% proficiency, ranked #263 of 301 in IN (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Forest Park Elementary School (math 21% / reading 22%, grade F, #803 of 994 statewide, top 81%, 601 students, 75% FRL); Lakeside Middle School (math 8% / reading 17%, grade F, #310 of 330 statewide, top 94%, 502 students, 78% FRL); North Side High School (math 19% / reading 51%, grade F, #266 of 369 statewide, top 73%, 1,474 students, 66% FRL).
• Market conditions: 52 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,861 units permitted in Allen County in 2024 (576 in 5+ unit buildings).
• This rent runs 37% of the median local income ($34k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $9k of equity ($570 loan paydown + $8k appreciation (10.0% local appreciation)).
• Allen County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $23k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $82,500

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.30% ✓
• Cap rate: 10.61%
• Cash-on-cash: 15.41%
• DSCR: 1.69
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $102,396
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1514 E Creighton Ave	0.74mi	2/1.0	1,013 (+5%)	2mo	$110,000	$109	55
221 E Williams St	0.64mi	3/1.0 (+1)	888 (-8%)	4mo	$38,000	$43	49
1718 Simons St	0.68mi	2/1.0	988 (+2%)	20mo	$105,000	$106	48

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 35.7%
• Equity multiple: 3.76×
• Total profit: $63,826
• Equity at exit: $74,323

10-year hold

• IRR: 30.7%
• Equity multiple: 8.49×
• Total profit: $173,104
• Equity at exit: $160,279

Cash invested: $23,100 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Indiana: 90 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

10-day pay-or-quit; landlord-favorable; preempted.

Methodology + full state rankings →

ZIP-level market 46803

• Active inventory: 52
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,069 high
• Mortgage (P&I): −$433
• Tax from tax record: −$81 /mo · $967/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $297

Break-even live

Break-even rent $693

Max offer price $82,500

Occupancy floor 67%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $20,625
• Closing costs: $2,475
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
859 Buchanan St Fort Wayne, IN	1.0–4.0	1.0	887	$900	$1.01	21d	1	0.33mi
425 E Wayne St Fort Wayne, IN	1.0	1.0	578	$795	$1.38	21d	1	0.60mi
805 Edgewater Ave Fort Wayne, IN	3.0	1.0	1075	$1,550	$1.44	14d	1	0.66mi
807 Edgewater Ave Fort Wayne, IN	3.0	1.0	1075	$1,450	$1.35	21d	1	0.66mi
1520 E Berry St Unit 210 Fort Wayne, IN	1.0	1.0	550	$950	$1.73	44d	1	0.69mi
840 Columbia Ave Unit A Fort Wayne, IN	1.0	1.0	650	$650	$1.00	14d	1	0.72mi
112 W Washington Blvd Fort Wayne, IN	1.0–2.0	1.0–2.0	768	$1,500	$1.95	21d	2	0.77mi
937 Columbia Ave Unit 937-4 Fort Wayne, IN	1.0	1.0	630	$850	$1.35	14d	1	0.80mi
217 W Masterson Ave Fort Wayne, IN	2.0	1.0	1100	$995	$0.90	21d	1	0.82mi
1005 Columbia Ave Unit 1005-1 Fort Wayne, IN	2.0	1.0	680	$950	$1.40	14d	1	0.82mi
1115 Edgewater Ave Unit 1115-2 Fort Wayne, IN	1.0	1.0	550	$825	$1.50	14d	1	0.83mi
227 W Williams St Unit 3 Fort Wayne, IN	1.0	1.0	590	$650	$1.10	44d	1	0.86mi
101 Three Rivers N Fort Wayne, IN	2.0	1.0	760	$2,102	$2.76	21d	11	0.86mi
309 W Williams St Unit 1 Fort Wayne, IN	2.0	1.0	900	$900	$1.00	21d	1	0.89mi
1206 Columbia Ave Unit 2 Fort Wayne, IN	2.0	2.0	1118	$995	$0.89	44d	1	0.91mi
116 W Columbia St Fort Wayne, IN	1.0	1.0	689	$1,305	$1.89	14d	3	0.97mi
1250 Ewing St Fort Wayne, IN	2.0	1.0–2.0	980	$2,081	$2.12	21d	24	0.97mi
340 W Dewald St Apt 2 Fort Wayne, IN	1.0	1.0	600	$825	$1.38	14d	1	1.00mi
2222 Hoagland Ave Unit E3 Fort Wayne, IN	1.0	1.0	625	$675	$1.08	21d	1	1.07mi
608 Anderson Ave Unit 1 Fort Wayne, IN	2.0	1.0	804	$875	$1.09	21d	1	1.13mi
442 E Wildwood Ave Fort Wayne, IN	2.0	1.0	864	$875	$1.01	21d	1	1.14mi
2301 Fairfield Ave Unit 406 Fort Wayne, IN	1.0	1.0	552	$750	$1.36	44d	1	1.16mi
1710 Tilden Ave Fort Wayne, IN	1.0	1.0	609	$800	$1.31	21d	1	1.17mi
309 W Leith St Unit 2 Fort Wayne, IN	2.0	1.0	900	$1,000	$1.11	44d	1	1.22mi
2445 Fairfield Ave Fort Wayne, IN	2.0	1.5	950	$1,150	$1.21	14d	3	1.23mi
2919 S Harrison St Unit 2921 Fort Wayne, IN	2.0	1.0	538	$825	$1.53	21d	1	1.23mi
877 Lavina St Fort Wayne, IN	1.0–3.0	1.0–2.0	997	$2,187	$2.19	44d	17	1.24mi
835 Van Buren St Fort Wayne, IN	2.0	1.0–2.0	750	$1,995	$2.66	14d	29	1.27mi
3113 S Harrison St Unit 2 Fort Wayne, IN	2.0	1.0	600	$850	$1.42	14d	1	1.31mi
1829 Broadway Unit 1831 Fort Wayne, IN	1.0	1.0	600	$950	$1.58	44d	1	1.33mi
2411 Fox Ave Unit 2411-A Fort Wayne, IN	1.0	1.0	620	$799	$1.29	21d	1	1.37mi
1838 Kentucky Ave Fort Wayne, IN	2.0	1.0	884	$975	$1.10	44d	1	1.39mi
2136 Miner St #2 Fort Wayne, IN	2.0	1.0	850	$1,200	$1.41	44d	1	1.39mi
424 Nussbaum Ave Fort Wayne, IN	2.0	1.0	650	$1,200	$1.85	21d	1	1.41mi
1905 Hillside Ave Apt 1 Fort Wayne, IN	1.0	1.0	680	$825	$1.21	44d	1	1.41mi
810 Huestis Ave Apt 1 Fort Wayne, IN	2.0	1.0	749	$925	$1.23	21d	1	1.41mi
824 Huestis Ave Apt C Fort Wayne, IN	2.0	1.0	744	$825	$1.11	21d	1	1.44mi
3410 S Anthony Blvd Fort Wayne, IN	3.0	1.0	900	$1,200	$1.33	44d	1	1.45mi
2005 Bayer Ave Fort Wayne, IN	2.0	1.0	840	$895	$1.07	44d	1	1.45mi

Listing history 10 events

1. 2026-06-18
   days on market $82,500 Active 13 DOM
2. 2026-06-17
   days on market $82,500 Active 12 DOM
3. 2026-06-16
   days on market $82,500 Active 11 DOM
4. 2026-06-15
   days on market $82,500 Active 10 DOM
5. 2026-06-14
   days on market $82,500 Active 8 DOM
6. 2026-06-10
   days on market $82,500 Active 5 DOM
7. 2026-06-09
   days on market $82,500 Active 4 DOM
8. 2026-06-08
   days on market $82,500 Active 3 DOM
9. 2026-06-07
   remarks 389-char remark
10. 2026-06-07
    listed $82,500 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $967 · $81/mo
• Projected year-2 tax: $967 · $81/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,824
• − Mortgage interest: −$4,621
• − Property taxes: −$967
• − Insurance: −$412
• − Repairs & maintenance: −$1,026
• − Management: −$1,026
• − Depreciation: −$2,400
• Taxable income: $2,371
• Est. tax owed @ 24.0%: −$569
• After-tax cash flow: $2,990/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Fort Wayne Community Schools
• NCES district ID: 1803630
• Math proficiency: 22% ▼ -11.00%
• Reading proficiency: 29% ▼ -7.00%
• Median HH income: $41,951
• Composite: 21.68/100
• National rank: #8275
• State rank: #263 of 301 in IN

Livability — Fort Wayne

• Score: 84/100
• State rank: #6
• US rank: #676

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime C- Employment D+ Housing A+ Health & safety A+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Wayne, IN
• County: Allen County · 326,813 people
• City population: 326,813
• Metro: Fort Wayne, IN
• Population (ZIP): 10,994
• Household income: $34,381
• Rent vs Own: 56.4% rent · 43.6% own
• Severe rent burden: 660.0

Population outlook (Allen County) Hauer SSP2

• Today (2025): 394,020 people
• By 2030: 405,128 · +2.8%
• By 2040: 423,476 · +7.5%
• By 2050: 435,137 · +10.4%
• By 2075: 450,293 · +14.3%
• By 2100: 424,101 · +7.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Black 42% White 27% Hispanic / Latino 24% Two or more races 10% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 17% Puerto Rican 1%
• Common ancestry: Lithuanian 1% Iranian 1% Serbian 1%
• Foreign-born: 11% · Canada, Philippines
• Languages at home: 81% English-only · Spanish 16% Other Asian/Pacific 1% French/Haitian/Cajun 1%

Political lean MEDSL · Allen

• 2024 margin: R (+12.5) · D 42.9% · R 55.4% · Other 1.7%
• 2008→2024 swing: -8.1pp toward R · 2008: -4.3pp · 2024: -12.5pp
• All cycles: 2024: R+12.5 2020: R+11.2 2016: R+19.6 2012: R+16.8 2008: R+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 107.58%
• Current HPI: 404.7976
• Rent YoY: —
• Metro: Fort Wayne, IN
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

Industry mix (Fortune 500 HQ in IN)

Industry	F500 HQs	Revenue
▸Industrial Machinery	2	$37B
▸Healthcare	1	$177B
▸Pharmaceuticals	1	$45B
▸Metals / Steel	1	$18B
▸Agriculture	1	$17B
▸Packaging	1	$12B

Price history

1 event — show timeline

• 2026-06-04 Listed $82,500 IRMLS

Property tax history

+9.7%/yr

Latest (2024): $967 · +35.6% YoY. Source: county tax records.