Lancia's Raphael I Plan · Huntertown, IN 46818

$248,100

3 bd · 2.0 ba · 1,607 sqft · SingleFamily · 300 Days on market

Excellent condition $45/mo HOA · 2% of rent

---

Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +6.7/30.0
• Schools +4.9/10.0
• Condition / age +4.8/5.0
• Rent growth +4.4/5.0
• Livability +3.5/5.0
• 1% rule +1.9/10.0
• DSCR +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS IS A SAMPLE PLAN - THIS IS NOT A HOME FOR SALE. Lancia's Raphael I is a spacious ranch offering many amenities to meet your family's needs. Kitchen has an island with a breakfast bar and corner Pantry - open plan to look at Nook and Great Room. 9' ceilings throughout home. Bedroom 3 can be an Office or Bonus Room (separate bedrooms from Foyer with an easy upgrade of a pocket door). Separate Laundry Room off Garage. 12x11 Covered Porch with cathedral ceiling could be upgraded to a screened in porch or full 3 season room. * Base price does not include land

Key facts

• Covered porch
• Corner pantry
• Kitchen island

Tags

• KITCHEN ISLAND
• CORNER PANTRY
• COVERED PORCH
• SEPARATE LAUNDRY ROOM

🏗️ New construction. The $248,100 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $328,190.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $248k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-521 ($-6k/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 $227k (8.6% below list).
• Recommended offer: $218k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#159 in IN) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Northwest Allen County Schools (rural): math 51% / reading 58% proficiency, ranked #25 of 301 in IN (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 11% free/reduced lunch — higher-income household profile.
• Market conditions: Rents rising fast (+7.6%/yr); 327 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,861 units permitted in Allen County in 2024 (576 in 5+ unit buildings).
• This rent runs 34% of the median local income ($81k/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 $10k 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 300 days — a 12% lower offer ($218k) is reasonable based on typical stale-listing flexibility.

Recommended offer $218,328 (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 300 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. 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?
7. 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.
8. 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.
9. 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: 0.69% ✗
• Cap rate: 4.39%
• Cash-on-cash: -6.80%
• DSCR: 0.70
• GRM: 12.1

CMA / ARV

• ARV (median comp): $328,190
• List price: $248,100
• Delta: -24.40%
• 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
4840 Whittlebury Dr	0.36mi	3/2.0	1,639 (+2%)	1mo	$359,227	$219	79
5091 Sickle Cv	0.37mi	3/2.0	1,703 (+6%)	0mo	$342,200	$201	73
4914 Whittlebury Dr	0.37mi	3/2.0	1,700 (+6%)	2mo	$369,900	$218	72
4684 Hammock Dr	0.33mi	3/2.0	1,724 (+7%)	1mo	$327,000	$190	71
5599 Broad Fields Cv	0.51mi	3/2.0	1,665 (+4%)	1mo	$384,900	$231	69
4815 Windrow Way	0.40mi	3/2.0	1,487 (-8%)	2mo	$320,000	$215	68
5116 Mountain Sky Cv	0.08mi	4/2.5 (+1)	1,818 (+13%)	0mo	$374,800	$206	67
12282 Hideout Pass	0.25mi	4/2.5 (+1)	1,732 (+8%)	2mo	$299,450	$173	67
4725 Silverstone Psge	0.44mi	3/2.0	1,716 (+7%)	2mo	$379,900	$221	67
12283 Hideout Pass	0.26mi	4/2.0 (+1)	1,771 (+10%)	1mo	$295,115	$167	65
4843 Silverstone Psge	0.43mi	3/2.0	1,768 (+10%)	2mo	$399,900	$226	61
5591 Broad Fields Cv	0.51mi	3/2.0	1,775 (+10%)	0mo	$386,300	$218	58

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 · 7.64% rent growth · sell at horizon

5-year hold

• IRR: -22.9%
• Equity multiple: 0.18×
• Total profit: $-75,195
• Equity at exit: $48,934

10-year hold

• IRR: -8.4%
• Equity multiple: 0.37×
• Total profit: $-57,850
• Equity at exit: $28,376

Cash invested: $91,893 (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 46818

• Rents YoY: 7.6%
• Active inventory: 327
• Price-to-rent: 9.1×

Monthly cashflow live

• Estimated rent: $2,269 medium
• Mortgage (P&I): −$1,721
• Tax est. 1.5%: −$410 /mo · $4,923/yr
• Insurance: −$137
• HOA: −$45
• Vacancy / Maint / Mgmt: −$476
• Net cashflow: $-521

Break-even live

Break-even rent $2,928

Max offer price $252,843

Occupancy floor —

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: $82,047
• Closing costs: $9,846
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5045 Portney Pl Fort Wayne, IN	4.0	2.5	2226	$2,300	$1.03	43d	1	0.12mi
4722 Whittlebury Dr Fort Wayne, IN	4.0	2.0	1650	$1,999	$1.21	13d	1	0.30mi
3115 Carroll Rd Fort Wayne, IN	3.0	2.0	1244	$2,300	$1.85	13d	1	1.39mi

HOA detail

• Monthly dues: $45 · $540/yr

Listing history 17 events

1. 2026-06-18
   days on market $248,100 Active 300 DOM
2. 2026-06-17
   days on market $248,100 Active 299 DOM
3. 2026-06-16
   days on market $248,100 Active 298 DOM
4. 2026-06-15
   days on market $248,100 Active 297 DOM
5. 2026-06-14
   days on market $248,100 Active 295 DOM
6. 2026-06-13
   days on market $248,100 Active 294 DOM
7. 2026-06-10
   days on market $248,100 Active 292 DOM
8. 2026-06-09
   days on market $248,100 Active 291 DOM
9. 2026-06-08
   days on market $248,100 Active 290 DOM
10. 2026-06-07
    days on market $248,100 Active 289 DOM
11. 2026-06-03
    days on market $248,100 Active 285 DOM
12. 2026-06-02
    pricedays on market $248,100 Active 284 DOM
13. 2026-06-01
    days on market $242,900 Active 283 DOM
14. 2026-05-31
    days on market $242,900 Active 282 DOM
15. 2026-05-30
    days on market $242,900 Active 281 DOM
16. 2026-02-09
    price $242,900 565-char remark

    Show marketing remark (565 chars)

    THIS IS A SAMPLE PLAN - THIS IS NOT A HOME FOR SALE. Lancia's Raphael I is a spacious ranch offering many amenities to meet your family's needs. Kitchen has an island with a breakfast bar and corner Pantry - open plan to look at Nook and Great Room. 9' ceilings throughout home. Bedroom 3 can be an Office or Bonus Room (separate bedrooms from Foyer with an easy upgrade of a pocket door). Separate Laundry Room off Garage. 12x11 Covered Porch with cathedral ceiling could be upgraded to a screened in porch or full 3 season room. * Base price does not include land

17. 2025-08-22
    listed $240,700 Active 565-char remark

    Show marketing remark (565 chars)

    THIS IS A SAMPLE PLAN - THIS IS NOT A HOME FOR SALE. Lancia's Raphael I is a spacious ranch offering many amenities to meet your family's needs. Kitchen has an island with a breakfast bar and corner Pantry - open plan to look at Nook and Great Room. 9' ceilings throughout home. Bedroom 3 can be an Office or Bonus Room (separate bedrooms from Foyer with an easy upgrade of a pocket door). Separate Laundry Room off Garage. 12x11 Covered Porch with cathedral ceiling could be upgraded to a screened in porch or full 3 season room. * Base price does not include land

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

Taxation est. · year 1

• Rental income: $27,225
• − Mortgage interest: −$18,384
• − Property taxes: −$4,923
• − Insurance: −$1,641
• − Repairs & maintenance: −$2,178
• − Management: −$2,178
• − HOA: −$540
• − Depreciation: −$9,547
• Taxable loss: −$12,165
• Est. tax savings @ 24.0%: +$2,920
• After-tax cash flow: $-3,329/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

Excellent 95/100 None rehab

This home is in excellent condition with modern updates and a spacious layout. It is move-in ready and would benefit from some exterior painting and flooring upgrades to further enhance its value.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint can enhance curb appeal
• Both Replace carpet with hardwood flooring — Hardwood floors are more durable and aesthetically pleasing
• Both Install smart home automation — Smart home features can increase both resale and rental value

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Fresh paint can enhance curb appeal ↑
• Both Replace carpet with hardwood flooring — Hardwood floors are more durable and aesthetically pleasing ↑
• Both Install smart home automation — Smart home features can increase both resale and rental value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Northwest Allen County Schools
• NCES district ID: 1808250
• Math proficiency: 51% ▼ -6.00%
• Reading proficiency: 58% ▼ -5.00%
• Median HH income: $78,952
• Composite: 49.26/100
• National rank: #2027
• State rank: #25 of 301 in IN

Livability — Huntertown

• Score: 70/100
• State rank: #159
• US rank: #7771

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Allen County · 326,813 people
• Metro: Fort Wayne, IN
• Population (ZIP): 21,954
• Household income: $81,066
• Rent vs Own: 15.6% rent · 84.4% own
• Severe rent burden: 101.0

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 (79%)
• Race & ethnicity: White 79% Two or more races 8% Hispanic / Latino 7% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 4% Slovak 3% Romanian 2%
• Foreign-born: 8% · Canada, Vietnam, Philippines
• Languages at home: 90% English-only · Spanish 4% Other Asian/Pacific 1% Vietnamese 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: ▼ -217.71%
• Current HPI: 228.1539
• Rent YoY: ▲ 7.64%
• 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

+0.9% since first listed

2 events — show timeline

• 2026-02-09 Price Changed $242,900 Zillow
• 2025-08-22 Listed $240,700 Zillow