1641 Howell St · Fort Wayne, IN 46808

$116,900

2 bd · 1.0 ba · 873 sqft · SingleFamily public records · 133 Days on market

Built 1920 6,534 sqft lot $134/sqft · at area comps Est $121k · at est. ↓ 5% since listing

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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 +19.0/30.0
• ARV discount +9.1/15.0
• DSCR +6.0/10.0
• 1% rule +4.8/10.0
• 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 MLS

Great investment or move right in. Cozy home with nice covered patio.

Key facts

• 6,534 sq ft lot
• Built 1920
• Listed 133 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $117k.

Deal economics

• At list price, monthly cash flow is $122 ($1k/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 $114k (2.1% below list).
• Recommended offer: $103k (12.0% below list) — sets the bar for market timing.
• Cap rate 7.5% 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-, schools D+, 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.
• Market conditions: Rents rising fast (+7.0%/yr); 87 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $808 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 $33k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 133 days — a 12% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $8k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $102,872 (12.0% below list)

Questions for the listing agent

1. It's been on market 133 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 0.98% ✗
• Cap rate: 7.54%
• Cash-on-cash: 4.46%
• DSCR: 1.20
• GRM: 8.5

CMA / ARV

• ARV (median comp): $121,117
• List price: $116,900
• Delta: -3.48%
• 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
1825 3rd St	0.27mi	2/1.0	862 (-1%)	10mo	$152,500	$177	78
1501 Runnion Ave	0.31mi	2/1.0	864 (-1%)	10mo	$167,900	$194	76
1714 Spring St	0.36mi	2/1.0	864 (-1%)	8mo	$117,000	$135	75
1101 Saint Marys Ave	0.39mi	2/1.0	908 (+4%)	1mo	$130,000	$143	74
1818 3rd St	0.28mi	2/1.0	806 (-8%)	9mo	$149,000	$185	67
1833 Cherokee Rd	0.61mi	3/1.0 (+1)	876 (+0%)	0mo	$154,900	$177	66
1305 Sinclair St	0.28mi	2/1.0	770 (-12%)	4mo	$98,000	$127	64
1427 Margaret Ave	0.67mi	2/1.0	850 (-3%)	2mo	$148,000	$174	63
1829 Sinclair St	0.24mi	2/1.0	751 (-14%)	11mo	$127,000	$169	57
1120 W 4th St	0.45mi	2/1.0	748 (-14%)	2mo	$120,000	$160	54
1902 Emma Ave	0.59mi	2/1.0	768 (-12%)	6mo	$125,000	$163	47
1016 Putnam St	0.68mi	2/1.0	1,000 (+14%)	2mo	$145,000	$145	42

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: -5.1%
• Equity multiple: 0.80×
• Total profit: $-6,430
• Equity at exit: $17,430

10-year hold

• IRR: 8.7%
• Equity multiple: 1.78×
• Total profit: $25,616
• Equity at exit: $10,107

Cash invested: $32,732 (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: 8.5×

Monthly cashflow live

• Estimated rent: $1,145 high
• Mortgage (P&I): −$613
• Tax from tax record: −$121 /mo · $1,452/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $122

Break-even live

Break-even rent $991

Max offer price $116,900

Occupancy floor 84%

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: $29,225
• Closing costs: $3,507
• Reserves months: —
• Total cash needed: —

Rent comps 20 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	0.50mi
1915 Ellen Ave Fort Wayne, IN	2.0	1.0	1100	$950	$0.86	13d	1	0.52mi
706 3rd St Unit 1 Fort Wayne, IN	2.0	1.0	930	$995	$1.07	43d	1	0.66mi
835 Van Buren St Fort Wayne, IN	2.0	1.0–2.0	750	$1,995	$2.66	13d	29	0.84mi
1332 Swinney Ave Fort Wayne, IN	2.0	1.0	1035	$1,300	$1.26	43d	1	1.04mi
877 Lavina St Fort Wayne, IN	1.0–3.0	1.0–2.0	997	$2,187	$2.19	43d	17	1.04mi
1421 Swinney Ave Unit 2 Fort Wayne, IN	1.0	1.0	950	$850	$0.89	43d	1	1.05mi
2131 N Wells St Apt 1 Fort Wayne, IN	1.0	1.0	800	$800	$1.00	13d	1	1.14mi
116 W Columbia St Fort Wayne, IN	1.0	1.0	689	$1,305	$1.89	13d	3	1.17mi
1250 Ewing St Fort Wayne, IN	2.0	1.0–2.0	980	$2,081	$2.12	21d	24	1.18mi
1829 Broadway Unit 1831 Fort Wayne, IN	1.0	1.0	600	$950	$1.58	43d	1	1.20mi
2718 Sherman Blvd Fort Wayne, IN	2.0	1.0	900	$925	$1.03	21d	1	1.26mi
112 W Washington Blvd Fort Wayne, IN	1.0–2.0	1.0–2.0	768	$1,500	$1.95	21d	2	1.31mi
2133 Riedmiller Ave Fort Wayne, IN	3.0	1.0	1056	$1,050	$0.99	21d	1	1.33mi
1829 Hale Ave Fort Wayne, IN	1.0	1.0	576	$600	$1.04	21d	1	1.37mi
1829 Hale Ave Unit 1/2 Fort Wayne, IN	1.0	1.0	576	$600	$1.04	43d	1	1.37mi
2136 Miner St #2 Fort Wayne, IN	2.0	1.0	850	$1,200	$1.41	43d	1	1.40mi
2215 Ontario St Fort Wayne, IN	3.0	1.0	850	$975	$1.15	43d	1	1.40mi
101 Three Rivers N Fort Wayne, IN	2.0	1.0	760	$2,102	$2.76	21d	11	1.44mi
424 Nussbaum Ave Fort Wayne, IN	2.0	1.0	650	$1,200	$1.85	21d	1	1.50mi

Listing history 19 events

1. 2026-06-18
   days on market $116,900 Active 133 DOM
2. 2026-06-17
   days on market $116,900 Active 132 DOM
3. 2026-06-16
   days on market $116,900 Active 131 DOM
4. 2026-06-15
   days on market $116,900 Active 130 DOM
5. 2026-06-14
   days on market $116,900 Active 128 DOM
6. 2026-06-10
   days on market $116,900 Active 125 DOM
7. 2026-06-09
   days on market $116,900 Active 124 DOM
8. 2026-06-08
   days on market $116,900 Active 123 DOM
9. 2026-06-07
   days on market $116,900 Active 122 DOM
10. 2026-06-03
    days on market $116,900 Active 118 DOM
11. 2026-06-02
    days on market $116,900 Active 117 DOM
12. 2026-06-01
    days on market $116,900 Active 116 DOM
13. 2026-05-31
    days on market $116,900 Active 115 DOM
14. 2026-05-30
    days on market $116,900 Active 114 DOM
15. 2026-03-24
    status Active 69-char remark

    Show marketing remark (69 chars)

    Great investment or move right in. Cozy home with nice covered patio.

16. 2026-03-02
    historical Active Under Contract 69-char remark

    Show marketing remark (69 chars)

    Great investment or move right in. Cozy home with nice covered patio.

17. 2026-03-01
    status Pending 69-char remark

    Show marketing remark (69 chars)

    Great investment or move right in. Cozy home with nice covered patio.

18. 2026-02-17
    price $118,900 69-char remark

    Show marketing remark (69 chars)

    Great investment or move right in. Cozy home with nice covered patio.

19. 2026-02-04
    listed $124,900 Active 69-char remark

    Show marketing remark (69 chars)

    Great investment or move right in. Cozy home with nice covered patio.

ⓘ 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: $1,452 · $121/mo
• Projected year-2 tax: $1,452 · $121/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: $13,736
• − Mortgage interest: −$6,548
• − Property taxes: −$1,452
• − Insurance: −$584
• − Repairs & maintenance: −$1,099
• − Management: −$1,099
• − Depreciation: −$3,401
• Taxable loss: −$447
• Est. tax savings @ 24.0%: +$107
• After-tax cash flow: $1,566/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

-4.8% since first listed

5 events — show timeline

• 2026-03-24 Relisted — IRMLS
• 2026-03-02 Contingent — IRMLS
• 2026-03-01 Pending — IRMLS
• 2026-02-17 Price Changed $118,900 IRMLS
• 2026-02-04 Listed $124,900 IRMLS

Property tax history

+6.4%/yr

Latest (2024): $1,452 · +44.6% YoY. Source: county tax records.