Lancia's Lincoln III Plan · New Haven, IN 46774

$230,200

4 bd · 2.5 ba · 1,734 sqft · SingleFamily · 351 Days on market

Good condition $26/mo HOA · 1% of rent

---

Why this score? — see what drove the D- 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 +10.8/30.0
• ARV discount +7.5/15.0
• Condition / age +4.2/5.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• 1% rule +3.3/10.0
• DSCR +3.1/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS IS A SAMPLE PLAN - THIS IS NOT A HOME FOR SALE. Lancia's Lincoln III showcases a U-shaped Kitchen open to the Nook with a corner pantry. Large separate Great Room. Separate Laundry Room off Garage. 4 Bedrooms upstairs with the option of transforming the downstairs Office or Bonus Room into a 5th Bedroom with an upgrade of a closet or suite with a full bath!

Key facts

• 2 parking spots
• Listed 351 days

🏗️ New construction. The $230,200 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $251,542.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $230k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $-113 ($-1k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $209k (9.2% below list).
• Recommended offer: $203k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#149 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D, amenities F, commute F.
• East Allen County Schools (suburban): math 36% / reading 47% proficiency, ranked #122 of 301 in IN (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: New Haven Intermediate School (math 28% / reading 29%, grade F, #727 of 994 statewide, top 73%, 589 students, 64% FRL); New Haven Jr/Sr High School (math 21% / reading 50%, grade F, #263 of 369 statewide, top 72%, 1,494 students, 67% FRL) — zoned schools average 66% FRL vs 43% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 221 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 93d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,861 units permitted in Allen County in 2024 (576 in 5+ unit buildings).
• This rent runs 35% of the median local income ($71k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• It's been on market 351 days — a 12% lower offer ($203k) is reasonable based on typical stale-listing flexibility.

Recommended offer $202,576 (12.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 351 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.83% ✗
• Cap rate: 5.75%
• Cash-on-cash: -1.93%
• DSCR: 0.91
• GRM: 10.0

CMA / ARV

• ARV (median comp): $251,542
• List price: $230,200
• Delta: -8.48%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
10585 Slate Run	0.23mi	3/2.5 (-1)	1,812 (+4%)	0mo	$255,000	$141	76
3556 Canal Square Dr	0.17mi	3/2.5 (-1)	1,832 (+6%)	1mo	$271,600	$148	76
3565 Canal Square Dr	0.17mi	3/2.5 (-1)	1,832 (+6%)	1mo	$259,200	$141	76
3563 Canal Square Dr	0.17mi	3/2.5 (-1)	1,832 (+6%)	1mo	$259,280	$142	76
10257 Crossland Ln	0.24mi	3/2.0 (-1)	1,596 (-8%)	2mo	$294,763	$185	67
3823 Sun Stone Way	0.15mi	4/2.5	1,994 (+15%)	2mo	$290,000	$145	66
1546 Mac Pherson Dr	0.36mi	4/1.5	1,556 (-10%)	1mo	$220,000	$141	61
1225 Lawn Ave	0.59mi	4/1.5	1,844 (+6%)	1mo	$180,000	$98	57
3936 Sugarhill Run	0.66mi	4/2.5	1,875 (+8%)	2mo	$291,900	$156	54
1720 Douglas Ln	0.53mi	4/2.5	1,978 (+14%)	0mo	$281,000	$142	51
10432 Chesterhills Ct	0.51mi	3/2.0 (-1)	1,486 (-14%)	1mo	$269,900	$182	45
3821 Scarborough Dr	0.49mi	3/2.0 (-1)	1,479 (-15%)	1mo	$269,000	$182	44

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -19.5%
• Equity multiple: 0.32×
• Total profit: $-47,910
• Equity at exit: $37,506

10-year hold

• IRR: -12.2%
• Equity multiple: 0.28×
• Total profit: $-50,794
• Equity at exit: $21,749

Cash invested: $70,432 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 33 active · 30 under contract
• Months of supply: 4.1 mo (24%/mo absorbed)
• Median asking: $259,000 ($154/sqft)
• Median days on market: 351 d
• This list price: 12% of active listings are priced below it
• ARV vs active asking: -6.0% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 46774

• Active inventory: 221
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $2,090 medium
• Mortgage (P&I): −$1,319
• Tax est. 1.5%: −$314 /mo · $3,773/yr
• Insurance: −$105
• HOA: −$26
• Vacancy / Maint / Mgmt: −$439
• Net cashflow: $-113

Break-even live

Break-even rent $2,233

Max offer price $235,191

Occupancy floor —

Sensitivity live

Price	-10% $61	-5% $-26	+0% $-113	+5% $-200	+10% $-287
Rent	-10% $-278	-5% $-196	+0% $-113	+5% $-30	+10% $52
Rate	-1.0pp $14	-0.5pp $-49	base $-113	+0.5pp $-178	+1.0pp $-244

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: $62,886
• Closing costs: $7,546
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3599 Canal Square Dr New Haven, IN	3.0	2.5	1832	$2,295	$1.25	70d	1	0.16mi
3591 Canal Square Dr New Haven, IN	3.0	1.5	1467	$1,695	$1.16	93d	1	0.20mi
10390 Silver Rock Chase New Haven, IN	4.0	2.5	1767	$2,250	$1.27	93d	1	0.33mi

Listing history 50 events

1. 2026-08-08
   days on market $230,200 Active 351 DOM
2. 2026-08-07
   days on market $230,200 Active 350 DOM
3. 2026-08-06
   days on market $230,200 Active 349 DOM
4. 2026-08-05
   days on market $230,200 Active 348 DOM
5. 2026-08-04
   days on market $230,200 Active 347 DOM
6. 2026-08-03
   days on market $230,200 Active 346 DOM
7. 2026-07-31
   days on market $230,200 Active 343 DOM
8. 2026-07-30
   days on market $230,200 Active 342 DOM
9. 2026-07-29
   days on market $230,200 Active 341 DOM
10. 2026-07-27
    days on market $230,200 Active 339 DOM
11. 2026-07-25
    days on market $230,200 Active 337 DOM
12. 2026-07-23
    days on market $230,200 Active 335 DOM
13. 2026-07-22
    days on market $230,200 Active 334 DOM
14. 2026-07-21
    days on market $230,200 Active 333 DOM
15. 2026-07-18
    days on market $230,200 Active 330 DOM
16. 2026-07-16
    days on market $230,200 Active 328 DOM
17. 2026-07-16
    days on market $230,200 Active 327 DOM
18. 2026-07-14
    days on market $230,200 Active 326 DOM
19. 2026-07-13
    days on market $230,200 Active 325 DOM
20. 2026-07-12
    days on market $230,200 Active 324 DOM
21. 2026-07-11
    days on market $230,200 Active 323 DOM
22. 2026-07-10
    days on market $230,200 Active 322 DOM
23. 2026-07-09
    days on market $230,200 Active 321 DOM
24. 2026-07-08
    days on market $230,200 Active 320 DOM
25. 2026-07-07
    days on market $230,200 Active 319 DOM
26. 2026-07-06
    days on market $230,200 Active 318 DOM
27. 2026-07-05
    days on market $230,200 Active 317 DOM
28. 2026-07-04
    days on market $230,200 Active 316 DOM
29. 2026-07-03
    days on market $230,200 Active 315 DOM
30. 2026-07-02
    days on market $230,200 Active 314 DOM
31. 2026-07-01
    days on market $230,200 Active 313 DOM
32. 2026-06-30
    days on market $230,200 Active 312 DOM
33. 2026-06-29
    days on market $230,200 Active 311 DOM
34. 2026-06-28
    days on market $230,200 Active 310 DOM
35. 2026-06-28
    days on market $230,200 Active 309 DOM
36. 2026-06-27
    days on market $230,200 Active 308 DOM
37. 2026-06-25
    days on market $230,200 Active 306 DOM
38. 2026-06-23
    days on market $230,200 Active 304 DOM
39. 2026-06-21
    days on market $230,200 Active 303 DOM
40. 2026-06-18
    days on market $230,200 Active 300 DOM
41. 2026-06-17
    days on market $230,200 Active 299 DOM
42. 2026-06-16
    days on market $230,200 Active 298 DOM
43. 2026-06-15
    days on market $230,200 Active 297 DOM
44. 2026-06-14
    days on market $230,200 Active 295 DOM
45. 2026-06-13
    days on market $230,200 Active 294 DOM
46. 2026-06-10
    days on market $230,200 Active 292 DOM
47. 2026-06-09
    days on market $230,200 Active 291 DOM
48. 2026-06-08
    days on market $230,200 Active 290 DOM
49. 2026-06-07
    days on market $230,200 Active 289 DOM
50. 2026-06-03
    days on market $230,200 Active 285 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $25,084
• − Mortgage interest: −$14,090
• − Property taxes: −$3,773
• − Insurance: −$1,258
• − Repairs & maintenance: −$2,007
• − Management: −$2,007
• − HOA: −$312
• − Depreciation: −$7,318
• Taxable loss: −$5,680
• Est. tax savings @ 24.0%: +$1,363
• After-tax cash flow: $7/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.

Condition & rehab AI · 13 photos

Good 85/100 None rehab

This home is in excellent condition with modern finishes and a well-maintained exterior. It is move-in ready and would benefit from a fresh coat of paint and landscaping improvements to further enhance its appeal.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint enhances curb appeal and interior aesthetics, attracting more buyers and renters. ↑
• Both Landscaping improvements — Enhanced landscaping can increase curb appeal and property value. ↑

F Composite school gradezoned avg 36/100

Zoned Schools

Elementary New Haven Primary School High New Haven Jr/sr High School F IN #263/369 Nat'l #9,497/17,239

Schools (NCES district)

• District: East Allen County Schools
• NCES district ID: 1802850
• Math proficiency: 36% ▼ -8.00%
• Reading proficiency: 47% ▼ -4.00%
• Median HH income: $50,524
• Composite: 35.75/100
• National rank: #4849
• State rank: #122 of 301 in IN

B Composite livability gradescore 70/100

Livability — New Haven

• Score: 70/100
• State rank: #149
• US rank: #7499

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Haven, IN
• County: Allen · 394,020 people
• Metro: Fort Wayne, IN
• Population (ZIP): 17,066
• Household income: $70,758
• Rent vs Own: 21.4% rent · 78.6% own
• Severe rent burden: 9% of renters

---

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 (89%)
• Race & ethnicity: White 89% Two or more races 4% Hispanic / Latino 4% Black 3% Asian 1%
• Common ancestry: Lithuanian 5% Italian 2% Slovak 1%
• Foreign-born: 3% · Canada, Philippines
• Languages at home: 89% English-only · German/W. Germanic 6% Spanish 3% Chinese 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: ▼ -185.27%
• Current HPI: 241.5333
• Rent YoY: —
• Metro: —
• 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

+0.8% since first listed

2 events — show timeline

• 2026-02-09 Price Changed $225,700 Zillow
• 2025-08-22 Listed $224,000 Zillow