1024 Greenlawn Ave · Fort Wayne, IN 46808

$124,900

3 bd · 1.0 ba · 975 sqft · SingleFamily public records · 4 Days on market

Built 1936 5,663 sqft lot Est $156k · 20% under

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Why this score? — see what drove the C+ 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 +21.4/30.0
• ARV discount +15.0/15.0
• DSCR +6.8/10.0
• 1% rule +4.7/10.0
• Rent growth +4.2/5.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

* * Multiple offers have been received. Please submit your Highest & Best offer by 5PM on 6/3 * * A great location and solid bones give this ranch in the '08 all kinds of possibilities. Catty-corner from a wonderful park and just North of exciting Downtown Fort Wayne there will always be fun to be had nearby. The 3-Bedroom featurs a large living area, dedicated laundry room, bonus breezeway area, and two spacious bays for parking & storage. Schedule your tour of a home bursting at the seems with potential!

Key facts

• Solid bones
• Large living area
• Great location

Tags

• GREAT LOCATION
• SOLID BONES
• LARGE LIVING AREA
• DEDICATED LAUNDRY ROOM
• BONUS BREEZEWAY AREA
• TWO SPACIOUS BAYS

Property features AI

Finance

• Other: Zoning: R1

Exterior

• Parking: Attached garage with 2 parking spaces; Concrete driveway and off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; Single-story
• Construction: Aluminum siding; Asphalt shingle roof; Slab foundation; Built area above grade: 1,113
• Exterior features: Corner lot; Paved public road access; No fencing

Interior

• Kitchen: Gas range; Refrigerator; Exhaust fan
• Bedrooms: 6 total rooms (includes bedrooms and living spaces)
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating (natural gas); Window air conditioning units
• Interior features: Refrigerator; Exhaust fan; Gas range
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $185 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $121k (3.3% below list).
• Recommended offer: $121k (3.3% below list) — sets the bar for 1% rule.
• Cap rate 8.1% 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: Francis M Price Elementary School (math 26% / reading 22%, grade F, #781 of 994 statewide, top 79%, 469 students, 67% FRL); Northwood Middle School (math 14% / reading 22%, grade F, #279 of 330 statewide, top 86%, 587 students, 70% FRL); North Side High School (math 19% / reading 51%, grade F, #266 of 369 statewide, top 73%, 1,474 students, 66% FRL).
• Market conditions: Rents rising fast (+7.0%/yr); 87 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 1,861 units permitted in Allen County in 2024 (576 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Allen County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 7.0% rent growth), your $35k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1936 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,749 (3.3% below list)

Questions for the listing agent

1. Built in 1936 — 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: 0.97% ✗
• Cap rate: 8.08%
• Cash-on-cash: 6.36%
• DSCR: 1.28
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $156,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1016 Putnam St	0.14mi	2/1.0 (-1)	1,000 (+3%)	2mo	$145,000	$145	83
1740 W State Blvd	0.56mi	3/1.0	999 (+2%)	1mo	$159,900	$160	69
2502 Sherman Blvd	0.30mi	2/2.0 (-1)	920 (-6%)	6mo	$142,000	$154	63
2662 Sherman Blvd	0.46mi	2/1.0 (-1)	930 (-5%)	6mo	$121,000	$130	61
402 Clayton Ave	0.52mi	2/1.0 (-1)	1,008 (+3%)	7mo	$160,000	$159	59
1427 Margaret Ave	0.29mi	2/1.0 (-1)	850 (-13%)	2mo	$148,000	$174	58
2603 N Highlands Blvd	0.68mi	3/1.5	936 (-4%)	3mo	$182,000	$194	57
1833 Cherokee Rd	0.62mi	3/1.0	876 (-10%)	0mo	$154,900	$177	54
1101 Saint Marys Ave	0.68mi	2/1.0 (-1)	908 (-7%)	1mo	$130,000	$143	51
2714 Stanford Ave	0.68mi	2/1.0 (-1)	1,050 (+8%)	4mo	$173,877	$166	47
725 Lillian Ave	0.41mi	2/2.0 (-1)	1,111 (+14%)	2mo	$178,000	$160	47
1840 Rosemont Dr	0.63mi	3/1.5	864 (-11%)	6mo	$165,000	$191	45

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

Projected returns pro-forma

-3.0% appreciation · 6.98% rent growth · sell at horizon

5-year hold

• IRR: -2.5%
• Equity multiple: 0.90×
• Total profit: $-3,436
• Equity at exit: $18,623

10-year hold

• IRR: 10.8%
• Equity multiple: 1.99×
• Total profit: $34,460
• Equity at exit: $10,799

Cash invested: $34,972 (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 46808

• Rents YoY: 7.0%
• Active inventory: 87
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,207 high
• Mortgage (P&I): −$655
• Tax from tax record: −$61 /mo · $737/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$254
• Net cashflow: $185

Break-even live

Break-even rent $973

Max offer price $124,900

Occupancy floor 80%

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1437 Oakland St Fort Wayne, IN	3.0	1.0	1000	$1,250	$1.25	43d	1	0.44mi
2718 Sherman Blvd Fort Wayne, IN	2.0	1.0	900	$925	$1.03	21d	1	0.49mi
706 3rd St Unit 1 Fort Wayne, IN	2.0	1.0	930	$995	$1.07	43d	1	0.55mi
1915 Ellen Ave Fort Wayne, IN	2.0	1.0	1100	$950	$0.86	13d	1	0.71mi
424 Nussbaum Ave Fort Wayne, IN	2.0	1.0	650	$1,200	$1.85	21d	1	1.04mi
344 Dunnwood Dr Unit 1 Fort Wayne, IN	2.0	1.0	800	$695	$0.87	43d	1	1.19mi
835 Van Buren St Fort Wayne, IN	2.0	1.0–2.0	750	$1,995	$2.66	13d	29	1.20mi
608 Anderson Ave Unit 1 Fort Wayne, IN	2.0	1.0	804	$875	$1.09	21d	1	1.24mi
101 Three Rivers N Fort Wayne, IN	2.0	1.0	760	$2,102	$2.76	21d	11	1.30mi
607 Curdes Ave Fort Wayne, IN	3.0	1.5	1072	$1,450	$1.35	21d	1	1.33mi
112 W Washington Blvd Fort Wayne, IN	1.0–2.0	1.0–2.0	768	$1,500	$1.95	21d	2	1.43mi
2005 Bayer Ave Fort Wayne, IN	2.0	1.0	840	$895	$1.07	43d	1	1.48mi
2102 W Point Dr Fort Wayne, IN	1.0–2.0	1.0	685	$1,116	$1.63	13d	44	1.49mi
1250 Ewing St Fort Wayne, IN	2.0	1.0–2.0	980	$2,081	$2.12	21d	24	1.50mi

Listing history 6 events

1. 2026-06-07
   statusdays on market $124,900 Pending 4 DOM
2. 2026-06-03
   days on market $124,900 Active 3 DOM
3. 2026-06-03
   remarks 518-char remark
4. 2026-06-02
   days on market $124,900 Active 2 DOM
5. 2026-06-01
   remarks 415-char remark
6. 2026-06-01
   listed $124,900 Active 1 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: $737 · $61/mo
• Projected year-2 tax: $899 · $75/mo
• Expected delta: +$162/yr (+$14/mo · 22.1%)

ⓘ 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: $14,490
• − Mortgage interest: −$6,996
• − Property taxes: −$737
• − Insurance: −$624
• − Repairs & maintenance: −$1,159
• − Management: −$1,159
• − Depreciation: −$3,633
• Taxable income: $181
• Est. tax owed @ 24.0%: −$43
• After-tax cash flow: $2,183/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): 19,684
• Household income: $53,359
• Rent vs Own: 39.4% rent · 60.6% own
• Severe rent burden: 625.0

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: Predominantly White (71%)
• Race & ethnicity: White 71% Hispanic / Latino 13% Two or more races 9% Black 9% Asian 2%
• Hispanic origin (detail): Mexican 10% Puerto Rican 2%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 7% · Canada, Philippines, South Korea
• Languages at home: 86% English-only · Spanish 10% Korean 2% Other Asian/Pacific 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: ▼ -288.51%
• Current HPI: 239.6115
• Rent YoY: ▲ 6.98%
• 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

• 2026-05-31 Listed $124,900 IRMLS

Property tax history

+8.5%/yr

Latest (2024): $737 · +2.5% YoY. Source: county tax records.