8231 Wyoming Pass · Fort Wayne, IN 46815

$199,000

3 bd · 1.0 ba · 1,308 sqft · SingleFamily public records · 1 Days on market

Built 1968 8,400 sqft lot Est $218k · 9% 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 +21.1/30.0
• ARV discount +11.5/15.0
• DSCR +6.7/10.0
• 1% rule +4.9/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

MULTIPLE OFFERS- PLEASE SUBMIT HIGHEST AND BEST BY 7 PM, JUNE 19, 2026. SELLER WILL MAKE DECISION BY 9 PM. Welcome home to this well-maintained 3-bedroom, 1-bath ranch offering over 1,300 square feet of flexible living space. Inside, you’ll find two spacious living areas, providing endless possibilities for a family room, home office, playroom, or entertainment space. Step outside to a large deck overlooking a private, spacious backyard shaded by mature trees—perfect for relaxing, hosting guests, or enjoying summer evenings. Conveniently located near Georgetown with quick access to shopping, dining, parks, and everyday amenities, this home offers the perfect blend of comfort, pr

Key facts

• Large deck
• Private backyard
• Mature trees

Tags

• LARGE DECK
• PRIVATE BACKYARD
• MATURE TREES
• FLEXIBLE LIVING SPACE
• TWO SPACIOUS LIVING AREAS

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; One story
• Construction: Aluminum siding; Asphalt construction materials; Shingle roof; Slab foundation; Built as site-built home
• Exterior features: Chain link fencing; Level lot; Shed(s)

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric oven
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Fireplace in the family room; 6 total rooms
• Laundry & utility: Washer and dryer (main level)

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $199k.

Deal economics

• At list price, monthly cash flow is $285 ($3k/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 $197k (1.0% below list).
• Recommended offer: $197k (1.0% below list) — sets the bar for 1% rule.
• Cap rate 8.0% 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-, 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.
• Zoned schools: J Wilbur Haley Elementary School (math 19% / reading 20%, grade F, #814 of 994 statewide, top 83%, 568 students, 65% FRL); Blackhawk Middle School (math 28% / reading 38%, grade F, #180 of 330 statewide, top 56%, 797 students, 46% FRL); R Nelson Snider High School (math 27% / reading 53%, grade F, #217 of 369 statewide, top 59%, 1,899 students, 50% FRL).
• Market conditions: 101 active listings in the ZIP; 7 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 43% 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 32% of the median local income ($73k/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 $1k of loan paydown is wiped out by about $6k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $196,950 (1.0% below list)

Questions for the listing agent

1. Built in 1968 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.99% ✗
• Cap rate: 8.01%
• Cash-on-cash: 6.14%
• DSCR: 1.27
• GRM: 8.4

CMA / ARV

• ARV (on-the-fly): $218,436
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
8220 Wyoming Pass	0.03mi	3/1.0	1,296 (-1%)	1mo	$195,000	$150	96
3502 Montana Dr	0.10mi	3/1.0	1,320 (+1%)	8mo	$204,000	$155	87
3626 Colorado Ct	0.22mi	3/1.5	1,326 (+1%)	1mo	$231,000	$174	85
3634 Colorado Ct	0.23mi	4/1.5 (+1)	1,296 (-1%)	2mo	$205,000	$158	79
8130 Park State Dr	0.12mi	3/1.0	1,228 (-6%)	6mo	$200,000	$163	79
3627 Iowa Ct	0.20mi	4/1.5 (+1)	1,344 (+3%)	2mo	$126,853	$94	78
3414 Country Park Ln	0.25mi	3/2.0	1,389 (+6%)	2mo	$300,000	$216	72
3417 Montana Dr	0.06mi	3/1.5	1,128 (-14%)	3mo	$214,900	$191	70
8325 Santa Fe Trl	0.13mi	3/1.5	1,128 (-14%)	8mo	$190,700	$169	63
2824 Repton Dr	0.39mi	3/1.0	1,189 (-9%)	8mo	$198,000	$167	60
3641 Cardinal Ln	0.35mi	3/1.5	1,484 (+14%)	5mo	$225,000	$152	56
8513 Maple Bluff Ct	0.33mi	3/2.0	1,145 (-12%)	6mo	$210,000	$183	54

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: -6.9%
• Equity multiple: 0.75×
• Total profit: $-14,129
• Equity at exit: $29,672

10-year hold

• IRR: 2.7%
• Equity multiple: 1.20×
• Total profit: $10,930
• Equity at exit: $17,206

Cash invested: $55,720 (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 46815

• Active inventory: 101
• Price-to-rent: 8.4×

Monthly cashflow live

• Estimated rent: $1,970 high
• Mortgage (P&I): −$1,044
• Tax from tax record: −$144 /mo · $1,733/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$414
• Net cashflow: $285

Break-even live

Break-even rent $1,609

Max offer price $199,000

Occupancy floor 81%

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: $49,750
• Closing costs: $5,970
• Reserves months: —
• Total cash needed: —

Rent comps 7 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3212 W Bartlett Dr Fort Wayne, IN	2.0	2.0	1289	$2,250	$1.75	43d	1	0.31mi
3215 W Bartlett Dr Fort Wayne, IN	2.0	2.0	1464	$2,380	$1.63	43d	1	0.34mi
3213 W Bartlett Dr Fort Wayne, IN	2.0	2.0	1445	$2,250	$1.56	43d	1	0.34mi
9114 Parent Rd New Haven, IN	2.0	1.0	1000	$1,550	$1.55	13d	10	0.67mi
1919 Bear Paw Dr Fort Wayne, IN	4.0	3.0	1792	$1,950	$1.09	13d	1	1.15mi
3010 Simcoe Dr Fort Wayne, IN	1.0–3.0	1.0–2.5	940	$1,609	$1.71	13d	10	1.23mi
10001 Pin Oak Cir Fort Wayne, IN	1.0–3.0	1.0–2.0	1190	$1,750	$1.47	13d	13	1.47mi

Listing history 6 events

1. 2026-06-19
   remarks 687-char remark
2. 2026-06-18
   statusdays on market $199,000 Active 1 DOM
3. 2026-06-17
   days on market $199,000 Coming Soon 3 DOM
4. 2026-06-16
   days on market $199,000 Coming Soon 2 DOM
5. 2026-06-15
   remarks 633-char remark
6. 2026-06-15
   listed $199,000 Coming Soon 1 DOM

ⓘ 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: $1,733 · $144/mo
• Projected year-2 tax: $1,733 · $144/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 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,634
• − Mortgage interest: −$11,147
• − Property taxes: −$1,733
• − Insurance: −$995
• − Repairs & maintenance: −$1,891
• − Management: −$1,891
• − Depreciation: −$5,789
• Taxable income: $188
• Est. tax owed @ 24.0%: −$45
• After-tax cash flow: $3,375/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): 27,238
• Household income: $73,239
• Rent vs Own: 24.9% rent · 75.1% own
• Severe rent burden: 604.0

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 (78%)
• Race & ethnicity: White 78% Black 9% Two or more races 7% Asian 5% Hispanic / Latino 4%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 2%
• Foreign-born: 4% · Philippines, Canada
• Languages at home: 93% English-only · Other Asian/Pacific 4% Spanish 1% Other Indo-European 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: ▼ -219.81%
• Current HPI: 245.2095
• Rent YoY: —
• 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

1 event — show timeline

• 2026-06-14 Coming Soon $199,000 IRMLS

Property tax history

+10.7%/yr

Latest (2024): $1,733 · +13.2% YoY. Source: county tax records.