2903 Marne Pl · Fort Wayne, IN 46818

$320,000

3 bd · 2.5 ba · 1,879 sqft · SingleFamily public records · 2 Days on market

Built 2001 0.25 ac lot Est $293k · 9% over $15/mo HOA · 1% of rent

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Why this score? — see what drove the D- 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 +10.8/30.0
• Schools +4.9/10.0
• Rent growth +4.4/5.0
• Livability +4.2/5.0
• ARV discount +3.4/15.0
• DSCR +3.1/10.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Lovely home in Seven Oaks situated on an exceptional lot with beautiful landscaping, mature shade trees, and an abundance of colorful perennial flowers. This home offers 3 bedrooms plus a versatile loft area, 2.5 bathrooms, and a spacious primary suite conveniently located on the main level. The inviting main living area features a beautiful fireplace, soaring windows with transoms, and an abundance of natural light. The kitchen includes an island with a breakfast bar and opens to the dining area and patio, both overlooking the picturesque backyard. Major updates include new roof shingles and gutters with leaf guard (2 years old) and a water heater, furnace, and central air conditioning sys

Key facts

• Exceptional lot
• Versatile loft area
• Mature shade trees

Tags

• EXCEPTIONAL LOT
• BEAUTIFUL LANDSCAPING
• MATURE SHADE TREES
• COLORFUL PERENNIAL FLOWERS
• VERSATILE LOFT AREA
• SPACIOUS PRIMARY SUITE

Property features AI

Finance

• HOA & community: Located in the Seven Oaks subdivision

Exterior

• Parking: Attached garage with 2 garage spaces; Garage with concrete floor and automatic garage door opener
• Utilities: Public water; Public sewer; Electric service
• Home design: Single-family residence (site-built); Two stories
• Construction: Brick and vinyl siding exterior; Asphalt roof; Slab foundation; Built as a site-built home
• Exterior features: Corner lot; Lot dimensions approximately 85 x 130

Interior

• Kitchen: Disposal; Dishwasher; Microwave; Refrigerator; Electric range; Kitchen island; Breakfast bar
• Bedrooms: Primary bedroom located on the main level
• Flooring: Carpet; Laminate; Tile
• Bathrooms: Two full bathrooms; One half bathroom; Two bathrooms located on the main level
• Heating & cooling: Natural gas forced-air heating; Central air conditioning; Ceiling fans
• Interior features: Walk-in closets; Breakfast bar; Ceiling fans; Kitchen island; Primary suite on main level; Window treatments and blinds; Gas log fireplace in the living room
• Laundry & utility: Washer and dryer included; Laundry located on the main level; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $320k.

Deal economics

• At list price, monthly cash flow is $-148 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $294k (8.2% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $241k (24.7% below list).
• Recommended offer: $241k (24.7% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 4.8% in Fort Wayne — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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+.
• 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.
• Zoned schools: Hickory Center Elementary School (math 60% / reading 54%, grade C+, #172 of 994 statewide, top 18%, 462 students, 25% FRL); Carroll Middle School (math 39% / reading 55%, grade D+, #65 of 330 statewide, top 21%, 994 students, 29% FRL); Carroll High School (math 59% / reading 86%, grade B+, #10 of 369 statewide, top 3%, 2,554 students, 21% FRL).
• Market conditions: Rents rising fast (+7.6%/yr); 327 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,861 units permitted in Allen County in 2024 (576 in 5+ unit buildings).
• This rent runs 36% 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $240,960 (24.7% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 0.75% ✗
• Cap rate: 5.74%
• Cash-on-cash: -1.98%
• DSCR: 0.91
• GRM: 11.1

CMA / ARV

• ARV (on-the-fly): $293,124
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3313 Cilantro Cv	0.26mi	3/2.5	1,877 (-0%)	1mo	$285,000	$152	87
11426 Maywin Dr	0.15mi	4/2.5 (+1)	1,879 (0%)	3mo	$279,900	$149	85
11213 Robinair Dr	0.32mi	3/2.5	1,900 (+1%)	1mo	$285,000	$150	82
3007 Pomeroy Pl	0.29mi	3/2.5	1,905 (+1%)	4mo	$295,000	$155	80
2937 Ford Dr	0.39mi	4/2.5 (+1)	1,875 (-0%)	2mo	$298,000	$159	75
2607 Creeping Phlox Cv	0.46mi	3/2.5	1,839 (-2%)	4mo	$284,900	$155	72
3024 Killarney Pl	0.20mi	3/2.5	1,640 (-13%)	5mo	$274,900	$168	65
3120 Limerick Pl	0.27mi	3/2.5	1,600 (-15%)	3mo	$279,499	$175	60
3315 Crooked Cv	0.73mi	3/2.5	1,809 (-4%)	5mo	$282,000	$156	56
3407 Bramblewood Ln	0.54mi	3/2.5	1,613 (-14%)	4mo	$273,500	$170	48
2025 York Ridge Pl	0.58mi	3/2.5	1,607 (-14%)	2mo	$329,900	$205	48
11203 Glenbarr Dr	0.72mi	3/2.0	2,101 (+12%)	0mo	$315,000	$150	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 · 7.64% rent growth · sell at horizon

5-year hold

• IRR: -14.9%
• Equity multiple: 0.45×
• Total profit: $-49,568
• Equity at exit: $47,713

10-year hold

• IRR: -0.3%
• Equity multiple: 0.97×
• Total profit: $-2,366
• Equity at exit: $27,668

Cash invested: $89,600 (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: 11.1×

Monthly cashflow live

• Estimated rent: $2,410 medium
• Mortgage (P&I): −$1,678
• Tax from tax record: −$225 /mo · $2,702/yr
• Insurance: −$133
• HOA: −$15
• Vacancy / Maint / Mgmt: −$506
• Net cashflow: $-148

Break-even live

Break-even rent $2,597

Max offer price $293,849

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: $80,000
• Closing costs: $9,600
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3205 Water Wheel Run Fort Wayne, IN	4.0	2.5	2382	$2,500	$1.05	43d	1	0.16mi
3115 Carroll Rd Fort Wayne, IN	3.0	2.0	1244	$2,300	$1.85	13d	1	0.35mi
1527 Flint Lock Ln Fort Wayne, IN	3.0	2.5	1570	$1,950	$1.24	43d	1	1.27mi

HOA detail

• Monthly dues: $15 · $180/yr
• Likely covers: waterlandscaping

Listing history 3 events

1. 2026-06-14
   statusdays on market $320,000 Pending 2 DOM
2. 2026-06-13
   remarks 699-char remark
3. 2026-06-13
   listed $320,000 Active 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: $2,702 · $225/mo
• Projected year-2 tax: $2,711 · $226/mo
• Expected delta: +$9/yr (+$1/mo · 0.3%)

ⓘ 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 ≥101°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $28,915
• − Mortgage interest: −$17,925
• − Property taxes: −$2,702
• − Insurance: −$1,600
• − Repairs & maintenance: −$2,313
• − Management: −$2,313
• − HOA: −$180
• − Depreciation: −$9,309
• Taxable loss: −$7,427
• Est. tax savings @ 24.0%: +$1,783
• After-tax cash flow: $6/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: 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 — 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): 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

1 event — show timeline

• 2026-06-11 Listed $320,000 IRMLS

Property tax history

+1.8%/yr

Latest (2024): $2,702 · +7.0% YoY. Source: county tax records.