4537 Gaywood Dr · Fort Wayne, IN 46806

$90,000

2 bd · 1.0 ba · 786 sqft · SingleFamily public records · 79 Days on market

Built 1945 6,384 sqft lot $115/sqft · 12% above area Est $121k · 25% 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 +22.7/30.0
• ARV discount +15.0/15.0
• DSCR +7.3/10.0
• 1% rule +6.0/10.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This cottage-style home has a warm, welcoming feel from the moment you arrive. Inside, the layout offers comfortable living with flexible space that can be set up to fit your needs. Whether you're looking for a place to settle into or something you can personalize, this home is worth a visit. Built in 1945, this single-level home offers 1,179 square feet per county records and features a low-maintenance vinyl exterior. The home can function as a two-bedroom with a larger living room, or as a three-bedroom with a wall already added-giving you the option to choose what works best for your lifestyle. One full bathroom completes the layout, along with a simple, easy-to-maintain setup for everyday living.

Key facts

• 6,384 sq ft lot
• Built 1945
• Listed 79 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $154 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($994 rent vs $90k).
• Recommended offer: $85k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 4.7% 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 (+4.9%/yr); 129 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 41% 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 $622 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 + 4.9% rent growth), your $25k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 79 days — a 6% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $25k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $24k; list at $90k implies a 275% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $84,600 (6.0% below list)

Questions for the listing agent

1. It's been on market 79 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1945 — 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: 1.10% ✓
• Cap rate: 8.35%
• Cash-on-cash: 7.35%
• DSCR: 1.33
• GRM: 7.5

CMA / ARV

• ARV (median comp): $120,776
• List price: $90,000
• Delta: -25.48%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4817 South Park Dr	0.23mi	3/1.0 (+1)	768 (-2%)	3mo	$52,000	$68	78
3920 Smith St	0.47mi	2/1.0	804 (+2%)	4mo	$56,000	$70	71
4821 Oliver St	0.23mi	3/1.0 (+1)	825 (+5%)	6mo	$114,900	$139	71
4516 Spatz Ave	0.09mi	2/1.0	700 (-11%)	8mo	$143,000	$204	71
826 Baxter St	0.39mi	2/1.0	836 (+6%)	1mo	$82,900	$99	70
4605 Spatz Ave	0.06mi	3/1.0 (+1)	878 (+12%)	3mo	$71,500	$81	70
4617 Avondale Dr	0.44mi	2/1.0	725 (-8%)	1mo	$120,000	$166	66
4343 Lillie St	0.46mi	2/1.0	825 (+5%)	7mo	$84,500	$102	65
4121 Monroe St	0.46mi	2/1.0	725 (-8%)	5mo	$42,000	$58	62
4315 S Colonial Ave	0.69mi	2/1.0	800 (+2%)	7mo	$88,500	$111	59
3805 Monroe St	0.64mi	2/1.0	874 (+11%)	3mo	$129,000	$148	49
3629 Robinwood Dr	0.66mi	2/1.0	880 (+12%)	1mo	$130,000	$148	49

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 · 4.93% rent growth · sell at horizon

5-year hold

• IRR: -2.9%
• Equity multiple: 0.89×
• Total profit: $-2,760
• Equity at exit: $13,419

10-year hold

• IRR: 8.9%
• Equity multiple: 1.74×
• Total profit: $18,746
• Equity at exit: $7,782

Cash invested: $25,200 (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 46806

• Home prices YoY: -33.6%
• Rents YoY: 4.9%
• Active inventory: 129
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $994 high
• Mortgage (P&I): −$472
• Tax from tax record: −$122 /mo · $1,461/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $154

Break-even live

Break-even rent $799

Max offer price $90,000

Occupancy floor 79%

Sensitivity live

Price	-10% $205	-5% $180	+0% $154	+5% $129	+10% $103
Rent	-10% $76	-5% $115	+0% $154	+5% $194	+10% $233
Rate	-1.0pp $200	-0.5pp $177	base $154	+0.5pp $131	+1.0pp $107

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4522 Spatz Ave Fort Wayne, IN	2.0	1.0	840	$950	$1.13	45d	1	0.10mi
4129 Bowser Ave Fort Wayne, IN	3.0	1.5	850	$1,250	$1.47	22d	1	0.32mi
4014 Oliver St Fort Wayne, IN	3.0	1.0	936	$1,050	$1.12	15d	1	0.39mi
4121 Monroe St Fort Wayne, IN	2.0	1.0	725	$1,100	$1.52	15d	1	0.46mi
4330 S Anthony Blvd Unit 4402 Fort Wayne, IN	1.0	1.0	575	$900	$1.57	15d	1	0.46mi
4655 Avondale Dr Fort Wayne, IN	2.0	1.0	768	$875	$1.14	45d	1	0.47mi
4705 S Anthony Blvd Fort Wayne, IN	3.0	1.0	1110	$1,050	$0.95	15d	1	0.49mi
3932 Winter St Fort Wayne, IN	2.0	1.0	750	$875	$1.17	45d	1	0.53mi
4331 Lafayette St Fort Wayne, IN	2.0	1.0	810	$925	$1.14	15d	1	0.55mi
4126 Lafayette St Fort Wayne, IN	2.0	1.0	775	$1,275	$1.65	45d	1	0.63mi
4018 S Clinton St Fort Wayne, IN	3.0	1.0	860	$1,000	$1.16	22d	1	0.75mi
3801 Lafayette St Fort Wayne, IN	2.0	1.0	1116	$995	$0.89	15d	1	0.76mi
4325 Werling Dr Fort Wayne, IN	1.0–3.0	1.0–2.0	923	$1,008	$1.09	45d	1	0.76mi
3410 S Anthony Blvd Fort Wayne, IN	3.0	1.0	900	$1,200	$1.33	45d	1	0.87mi
5009 Hoagland Ave Fort Wayne, IN	2.0	1.0	1000	$1,300	$1.30	45d	1	1.09mi
442 E Wildwood Ave Fort Wayne, IN	2.0	1.0	864	$875	$1.01	22d	1	1.09mi
1004 Fayette Dr Fort Wayne, IN	1.0–2.0	1.0	679	$1,199	$1.76	15d	18	1.10mi
227 W Darrow Ave Fort Wayne, IN	3.0	1.0	995	$1,000	$1.01	45d	1	1.17mi
418 W Rudisill Blvd Unit 2 Fort Wayne, IN	2.0	1.0	768	$975	$1.27	22d	1	1.21mi
6033 S Calhoun St Fort Wayne, IN	3.0	1.0	1042	$1,220	$1.17	22d	1	1.22mi
5800 Turtle Creek Dr Unit 5840-5 Fort Wayne, IN	1.0	1.0	570	$639	$1.12	22d	1	1.24mi
3113 S Harrison St Unit 2 Fort Wayne, IN	2.0	1.0	600	$850	$1.42	15d	1	1.27mi
308 Pursley Dr Fort Wayne, IN	3.0	1.0	850	$1,100	$1.29	45d	1	1.32mi
2754 E Paulding Rd Fort Wayne, IN	1.0–3.0	1.0–2.5	997	$894	$0.90	15d	14	1.35mi
2919 S Harrison St Unit 2921 Fort Wayne, IN	2.0	1.0	538	$825	$1.53	22d	1	1.35mi
405 Pursley Dr Fort Wayne, IN	2.0	1.0	720	$850	$1.18	45d	1	1.43mi
3718 S Wayne Ave Fort Wayne, IN	1.0	1.0	568	$795	$1.40	45d	1	1.44mi

Listing history 18 events

1. 2026-06-18
   days on market $90,000 Active 79 DOM
2. 2026-06-17
   days on market $90,000 Active 78 DOM
3. 2026-06-16
   days on market $90,000 Active 77 DOM
4. 2026-06-15
   days on market $90,000 Active 76 DOM
5. 2026-06-14
   pricedays on market $90,000 Active 74 DOM
6. 2026-06-10
   days on market $95,000 Active 71 DOM
7. 2026-06-09
   days on market $95,000 Active 70 DOM
8. 2026-06-08
   days on market $95,000 Active 69 DOM
9. 2026-06-07
   days on market $95,000 Active 68 DOM
10. 2026-06-03
    days on market $95,000 Active 64 DOM
11. 2026-06-02
    days on market $95,000 Active 63 DOM
12. 2026-06-01
    days on market $95,000 Active 62 DOM
13. 2026-05-31
    days on market $95,000 Active 61 DOM
14. 2026-05-30
    days on market $95,000 Active 60 DOM
15. 2026-03-31
    listed $115,000 Active 712-char remark

    Show marketing remark (741 chars)

    Welcome to 4537 Gaywood Drive, a well-maintained 2-bedroom, 1-bath home offering 786 finished square feet of comfortable living space in Fort Wayne's established Summit Park neighborhood. Built in 1945, this site-built home blends classic character with practical features for everyday living. Inside, you'll find a functional layout with two main-level bedrooms, convenient main-level laundry, and gas forced-air heating to keep things comfortable year-round. — The home features durable vinyl siding and sits on a level 0.15-acre city lot with plenty of yard space for outdoor enjoyment, gardening, or entertaining. Seller financing available for qualified buyers with a large down payment — contact listing agent for details!

16. 2026-03-31
    listed $115,000 Active 741-char remark

    Show marketing remark (741 chars)

    Welcome to 4537 Gaywood Drive, a well-maintained 2-bedroom, 1-bath home offering 786 finished square feet of comfortable living space in Fort Wayne's established Summit Park neighborhood. Built in 1945, this site-built home blends classic character with practical features for everyday living. Inside, you'll find a functional layout with two main-level bedrooms, convenient main-level laundry, and gas forced-air heating to keep things comfortable year-round. — The home features durable vinyl siding and sits on a level 0.15-acre city lot with plenty of yard space for outdoor enjoyment, gardening, or entertaining. Seller financing available for qualified buyers with a large down payment — contact listing agent for details!

17. 2017-02-07
    soldstatus $24,000
18. 2016-10-15
    listed $25,650

ⓘ 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: $1,461 · $122/mo
• Projected year-2 tax: $1,461 · $122/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 2/10 Low 6 d/yr ≥100°F today · 14 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: $11,934
• − Mortgage interest: −$5,041
• − Property taxes: −$1,461
• − Insurance: −$450
• − Repairs & maintenance: −$955
• − Management: −$955
• − Depreciation: −$2,618
• Taxable income: $454
• Est. tax owed @ 24.0%: −$109
• After-tax cash flow: $1,744/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): 26,425
• Household income: $47,895
• Rent vs Own: 48.1% rent · 51.9% own
• Severe rent burden: 1184.0

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: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: Black 37% Hispanic / Latino 26% White 21% Asian 12% Two or more races 11% Native American 2%
• Hispanic origin (detail): Mexican 18% Puerto Rican 1%
• Common ancestry: Italian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 19% · Canada, Philippines, South Korea
• Languages at home: 71% English-only · Spanish 19% Other Asian/Pacific 9%

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: ▼ -148.00%
• Current HPI: 291.8198
• Rent YoY: ▲ 4.93%
• 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

+348.3% since first listed

4 events — show timeline

• 2026-03-31 Listed $115,000 IRMLS
• 2026-03-31 Listed $115,000 MIBOR as Distributed by MLS Grid
• 2017-02-07 Sold (MLS) $24,000 IRMLS
• 2016-10-15 Listed $25,650 IRMLS

Property tax history

+15.2%/yr

Latest (2024): $1,461 · -3.6% YoY. Source: county tax records.