1516 W 4th St · Fort Wayne, IN 46808

$99,900

2 bd · 1.0 ba · 520 sqft · SingleFamily public records · 119 Days on market

Built 1930 5,600 sqft lot $192/sqft · at area comps Est $105k · at est. ↓ 20% since listing

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Why this score? — see what drove the B- 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 +27.5/30.0
• DSCR +9.7/10.0
• ARV discount +9.7/15.0
• 1% rule +7.2/10.0
• 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

Nicely remodeled home ready for the new owner. 2 bedroom 1 bathroom 520 square feet home, easy to keep clean with newer flooring throughout! Exterior upgrades, and a nice AC unit. Room sizes are approximate, please verify.

Key facts

• 5,600 sq ft lot
• Built 1930
• Listed 118 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

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 $100k).
• Recommended offer: $91k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.9% 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; 12 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 $691 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($91k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $90,909 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1930 — 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: 1.22% ✓
• Cap rate: 9.86%
• Cash-on-cash: 12.73%
• DSCR: 1.57
• GRM: 6.8

CMA / ARV

• ARV (median comp): $105,000
• List price: $99,900
• Delta: -4.86%
• Verdict: FAIR
• Comps: 17 within 1.0 mi

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1702 Sinclair St	0.22mi	1/1.0 (-1)	564 (+8%)	3mo	$105,000	$186	68
2118 Andrew St	0.65mi	2/1.0	588 (+13%)	22mo	$105,000	$179	30

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: 6.8%
• Equity multiple: 1.28×
• Total profit: $7,808
• Equity at exit: $14,895

10-year hold

• IRR: 19.4%
• Equity multiple: 2.92×
• Total profit: $53,835
• Equity at exit: $8,638

Cash invested: $27,972 (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: 6.8×

Monthly cashflow live

• Estimated rent: $1,222 high
• Mortgage (P&I): −$524
• Tax from tax record: −$103 /mo · $1,241/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$257
• Net cashflow: $297

Break-even live

Break-even rent $847

Max offer price $99,900

Occupancy floor 71%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
616 Mechanic St Unit B Fort Wayne, IN	1.0	1.0	500	$750	$1.50	21d	1	0.62mi
835 Van Buren St Fort Wayne, IN	2.0	1.0–2.0	750	$1,995	$2.66	13d	29	0.94mi
517 W Washington Blvd Unit 14 Strauss Fort Wayne, IN	1.0	1.0	500	$995	$1.99	13d	1	1.14mi
116 W Columbia St Fort Wayne, IN	1.0	1.0	689	$1,305	$1.89	13d	3	1.14mi
877 Lavina St Fort Wayne, IN	1.0–3.0	1.0–2.0	997	$2,187	$2.19	43d	17	1.21mi
1250 Ewing St Fort Wayne, IN	2.0	1.0–2.0	980	$2,081	$2.12	21d	24	1.29mi
424 Nussbaum Ave Fort Wayne, IN	2.0	1.0	650	$1,200	$1.85	21d	1	1.32mi
112 W Washington Blvd Fort Wayne, IN	1.0–2.0	1.0–2.0	768	$1,500	$1.95	21d	2	1.34mi
101 Three Rivers N Fort Wayne, IN	2.0	1.0	760	$2,102	$2.76	21d	11	1.38mi
1512 Taylor St Unit 3 Fort Wayne, IN	1.0	1.0	500	$850	$1.70	21d	1	1.39mi
1512 Taylor St Unit 2 Fort Wayne, IN	1.0	1.0	500	$795	$1.59	21d	1	1.39mi
1829 Broadway Unit 1831 Fort Wayne, IN	1.0	1.0	600	$950	$1.58	43d	1	1.41mi

Listing history 15 events

1. 2026-05-07
   status Active 222-char remark

   Show marketing remark (222 chars)

   Nicely remodeled home ready for the new owner. 2 bedroom 1 bathroom 520 square feet home, easy to keep clean with newer flooring throughout! Exterior upgrades, and a nice AC unit. Room sizes are approximate, please verify.

2. 2026-05-07
   historical 222-char remark

   Show marketing remark (222 chars)

   Nicely remodeled home ready for the new owner. 2 bedroom 1 bathroom 520 square feet home, easy to keep clean with newer flooring throughout! Exterior upgrades, and a nice AC unit. Room sizes are approximate, please verify.

3. 2026-04-28
   status Active 222-char remark

   Show marketing remark (222 chars)

   Nicely remodeled home ready for the new owner. 2 bedroom 1 bathroom 520 square feet home, easy to keep clean with newer flooring throughout! Exterior upgrades, and a nice AC unit. Room sizes are approximate, please verify.

4. 2026-04-28
   price $99,900 222-char remark

   Show marketing remark (222 chars)

   Nicely remodeled home ready for the new owner. 2 bedroom 1 bathroom 520 square feet home, easy to keep clean with newer flooring throughout! Exterior upgrades, and a nice AC unit. Room sizes are approximate, please verify.

5. 2026-04-06
   price $102,000 222-char remark

   Show marketing remark (222 chars)

   Nicely remodeled home ready for the new owner. 2 bedroom 1 bathroom 520 square feet home, easy to keep clean with newer flooring throughout! Exterior upgrades, and a nice AC unit. Room sizes are approximate, please verify.

6. 2026-03-09
   price $103,000 222-char remark

   Show marketing remark (222 chars)

   Nicely remodeled home ready for the new owner. 2 bedroom 1 bathroom 520 square feet home, easy to keep clean with newer flooring throughout! Exterior upgrades, and a nice AC unit. Room sizes are approximate, please verify.

7. 2026-01-16
   listed $105,000 Active 222-char remark

   Show marketing remark (222 chars)

   Nicely remodeled home ready for the new owner. 2 bedroom 1 bathroom 520 square feet home, easy to keep clean with newer flooring throughout! Exterior upgrades, and a nice AC unit. Room sizes are approximate, please verify.

8. 2025-11-06
   price $114,400
9. 2025-10-27
   price $115,900
10. 2025-10-17
    price $116,900
11. 2025-10-06
    price $119,900
12. 2025-09-23
    price $121,400
13. 2025-09-12
    price $122,900
14. 2025-08-25
    listed $124,900 Active
15. 2022-06-21
    price $695

ⓘ 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: $1,241 · $103/mo
• Projected year-2 tax: $1,241 · $103/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: $14,669
• − Mortgage interest: −$5,596
• − Property taxes: −$1,241
• − Insurance: −$500
• − Repairs & maintenance: −$1,174
• − Management: −$1,174
• − Depreciation: −$2,906
• Taxable income: $2,079
• Est. tax owed @ 24.0%: −$499
• After-tax cash flow: $3,062/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

-20.0% since first listed

15 events — show timeline

• 2026-05-07 Relisted — IRMLS
• 2026-05-07 Delisted — IRMLS
• 2026-04-28 Relisted — IRMLS
• 2026-04-28 Price Changed $99,900 IRMLS
• 2026-04-06 Price Changed $102,000 IRMLS
• 2026-03-09 Price Changed $103,000 IRMLS
• 2026-01-16 Listed $105,000 IRMLS
• 2025-11-06 Price Changed $114,400 IRMLS
• 2025-10-27 Price Changed $115,900 IRMLS
• 2025-10-17 Price Changed $116,900 IRMLS
• 2025-10-06 Price Changed $119,900 IRMLS
• 2025-09-23 Price Changed $121,400 IRMLS
• 2025-09-12 Price Changed $122,900 IRMLS
• 2025-08-25 Listed $124,900 IRMLS
• 2022-06-21 Price Changed $695 RENT.

Property tax history

+4.9%/yr

Latest (2024): $1,241 · +30.8% YoY. Source: county tax records.