4320 Casa Verde Dr · Fort Wayne, IN 46816

$145,200

3 bd · 1.0 ba · 1,147 sqft · SingleFamily public records · 11 Days on market

Built 1964 8,276 sqft lot $127/sqft · 18% below area Est $177k · 18% under ↓ 12% 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).

• ARV discount +15.0/15.0
• Cash flow +14.7/30.0
• DSCR +4.5/10.0
• 1% rule +4.4/10.0
• Livability +4.2/5.0
• Schools +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Boasting a BRAND NEW ROOF! Ready for move in, this ranch style home is nestled in a great neighborhood. The large picture window welcomes you into a spacious living room, with versatile living options and is open to the eat-in kitchen. Double doors lead out to the large, fenced-in backyard, to expand your living potential outdoors. The cozy kitchen boasts the convenience of a washer and dryer. Down the hallway you'll discover three bedrooms, plenty of closet space, a utility room and a full bathroom. Offers the convenience of a 1 1/2 car garage. (room dimension should be verified by interested parties) Great family home or investment property. Being sold AS IS.

Key facts

• Cozy kitchen
• Utility room
• Brand new roof

Tags

• BRAND NEW ROOF
• LARGE FENCED-IN BACKYARD
• COZY KITCHEN
• UTILITY ROOM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $37 ($449/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 $136k (6.1% below list).
• Recommended offer: $136k (6.1% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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+.
• East Allen County Schools (suburban): math 36% / reading 47% proficiency, ranked #122 of 301 in IN (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Market conditions: 50 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 1,861 units permitted in Allen County in 2024 (576 in 5+ unit buildings).
• This rent runs 36% of the median local income ($45k/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 $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.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.

Recommended offer $136,352 (6.1% below list)

Questions for the listing agent

1. Built in 1964 — 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: 0.94% ✗
• Cap rate: 6.60%
• Cash-on-cash: 1.10%
• DSCR: 1.05
• GRM: 8.9

CMA / ARV

• ARV (median comp): $176,995
• List price: $145,200
• Delta: -17.96%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4336 Casa Verde Dr Dr	0.02mi	3/1.0	1,140 (-1%)	21mo	$163,000	$143	81
4221 Casa Verde Dr	0.09mi	3/1.5	1,040 (-9%)	8mo	$220,000	$212	71
4429 E Paulding Rd	0.25mi	3/1.0	1,056 (-8%)	8mo	$120,000	$114	68
6715 Malvern Dr	0.39mi	3/1.0	1,222 (+6%)	8mo	$130,000	$106	65
4603 Santa Ana Dr	0.18mi	3/1.5	1,234 (+8%)	20mo	$170,000	$138	60
6231 Amarillo Dr	0.46mi	3/1.5	1,214 (+6%)	14mo	$180,000	$148	55
6410 Decor Dr	0.22mi	3/2.0	1,300 (+13%)	16mo	$200,000	$154	50
4917 Wayne Trce	0.71mi	3/1.0	1,087 (-5%)	10mo	$158,000	$145	50
3414 Regis Dr	0.56mi	3/1.0	1,196 (+4%)	23mo	$173,000	$145	47
5606 Wayne Trce	0.34mi	3/1.0	1,272 (+11%)	24mo	$155,000	$122	46
4415 Richfield Ln	0.53mi	3/1.5	1,285 (+12%)	11mo	$198,000	$154	44

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: -14.5%
• Equity multiple: 0.48×
• Total profit: $-21,104
• Equity at exit: $21,650

10-year hold

• IRR: -5.7%
• Equity multiple: 0.63×
• Total profit: $-15,135
• Equity at exit: $12,554

Cash invested: $40,656 (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 46816

• Home prices YoY: -27.9%
• Active inventory: 50
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,364 medium
• Mortgage (P&I): −$761
• Tax from tax record: −$218 /mo · $2,614/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $37

Break-even live

Break-even rent $1,316

Max offer price $145,200

Occupancy floor 92%

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: $36,300
• Closing costs: $4,356
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2754 E Paulding Rd Fort Wayne, IN	1.0–3.0	1.0–2.5	997	$1,089	$1.09	14d	14	1.04mi
3702 Trace Cir Fort Wayne, IN	2.0–4.0	2.0	1571	$1,903	$1.21	44d	6	1.34mi

Listing history 11 events

1. 2026-05-07
   status Pending 671-char remark

   Show marketing remark (671 chars)

   Boasting a BRAND NEW ROOF! Ready for move in, this ranch style home is nestled in a great neighborhood. The large picture window welcomes you into a spacious living room, with versatile living options and is open to the eat-in kitchen. Double doors lead out to the large, fenced-in backyard, to expand your living potential outdoors. The cozy kitchen boasts the convenience of a washer and dryer. Down the hallway you'll discover three bedrooms, plenty of closet space, a utility room and a full bathroom. Offers the convenience of a 1 1/2 car garage. (room dimension should be verified by interested parties) Great family home or investment property. Being sold AS IS.

2. 2026-04-27
   status Active 671-char remark

   Show marketing remark (671 chars)

   Boasting a BRAND NEW ROOF! Ready for move in, this ranch style home is nestled in a great neighborhood. The large picture window welcomes you into a spacious living room, with versatile living options and is open to the eat-in kitchen. Double doors lead out to the large, fenced-in backyard, to expand your living potential outdoors. The cozy kitchen boasts the convenience of a washer and dryer. Down the hallway you'll discover three bedrooms, plenty of closet space, a utility room and a full bathroom. Offers the convenience of a 1 1/2 car garage. (room dimension should be verified by interested parties) Great family home or investment property. Being sold AS IS.

3. 2026-03-22
   status Pending 671-char remark

   Show marketing remark (671 chars)

   Boasting a BRAND NEW ROOF! Ready for move in, this ranch style home is nestled in a great neighborhood. The large picture window welcomes you into a spacious living room, with versatile living options and is open to the eat-in kitchen. Double doors lead out to the large, fenced-in backyard, to expand your living potential outdoors. The cozy kitchen boasts the convenience of a washer and dryer. Down the hallway you'll discover three bedrooms, plenty of closet space, a utility room and a full bathroom. Offers the convenience of a 1 1/2 car garage. (room dimension should be verified by interested parties) Great family home or investment property. Being sold AS IS.

4. 2026-03-20
   listed $145,200 Active 671-char remark

   Show marketing remark (671 chars)

   Boasting a BRAND NEW ROOF! Ready for move in, this ranch style home is nestled in a great neighborhood. The large picture window welcomes you into a spacious living room, with versatile living options and is open to the eat-in kitchen. Double doors lead out to the large, fenced-in backyard, to expand your living potential outdoors. The cozy kitchen boasts the convenience of a washer and dryer. Down the hallway you'll discover three bedrooms, plenty of closet space, a utility room and a full bathroom. Offers the convenience of a 1 1/2 car garage. (room dimension should be verified by interested parties) Great family home or investment property. Being sold AS IS.

5. 2025-07-08
   status Pending
6. 2025-07-03
   price $144,900
7. 2025-06-09
   status Active
8. 2025-06-09
   price $149,900
9. 2025-05-04
   status Pending
10. 2025-04-23
    price $159,900
11. 2025-03-17
    listed $164,200 Active

ⓘ 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: $2,614 · $218/mo
• Projected year-2 tax: $2,614 · $218/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: $16,362
• − Mortgage interest: −$8,133
• − Property taxes: −$2,614
• − Insurance: −$726
• − Repairs & maintenance: −$1,309
• − Management: −$1,309
• − Depreciation: −$4,224
• Taxable loss: −$1,953
• Est. tax savings @ 24.0%: +$469
• After-tax cash flow: $918/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: East Allen County Schools
• NCES district ID: 1802850
• Math proficiency: 36% ▼ -8.00%
• Reading proficiency: 47% ▼ -4.00%
• Median HH income: $50,524
• Composite: 35.75/100
• National rank: #4849
• State rank: #122 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): 19,514
• Household income: $45,343
• Rent vs Own: 45.5% rent · 54.5% own
• Severe rent burden: 921.0

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: White 34% Black 30% Asian 20% Hispanic / Latino 11% Two or more races 8%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Portuguese 2% Italian 2% Romanian 1%
• Foreign-born: 21% · Philippines, Canada, China
• Languages at home: 73% English-only · Other Asian/Pacific 16% Spanish 10%

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: ▼ -108.64%
• Current HPI: 279.9884
• 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

-11.6% since first listed

11 events — show timeline

• 2026-05-07 Pending — IRMLS
• 2026-04-27 Relisted — IRMLS
• 2026-03-22 Pending — IRMLS
• 2026-03-20 Listed $145,200 IRMLS
• 2025-07-08 Pending — IRMLS
• 2025-07-03 Price Changed $144,900 IRMLS
• 2025-06-09 Relisted — IRMLS
• 2025-06-09 Price Changed $149,900 IRMLS
• 2025-05-04 Pending — IRMLS
• 2025-04-23 Price Changed $159,900 IRMLS
• 2025-03-17 Listed $164,200 IRMLS

Property tax history

+16.5%/yr

Latest (2024): $2,614 · +8.8% YoY. Source: county tax records.