2728 Sapphire Ct · Huntertown, IN 46818

$264,900

3 bd · 2.0 ba · 1,239 sqft · SingleFamily public records · 37 Days on market

Built 2007 Est $252k · 5% over

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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 +9.8/30.0
• ARV discount +5.1/15.0
• Schools +4.9/10.0
• Rent growth +4.4/5.0
• Livability +3.5/5.0
• 1% rule +2.8/10.0
• DSCR +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Home being entered for comparable purposes.

Key facts

• Fenced-in back yard
• Quiet cul-de-sac
• Two-car garage

Tags

• TWO-CAR GARAGE
• FENCED-IN BACK YARD
• QUIET CUL-DE-SAC

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $265k.

Deal economics

• At list price, monthly cash flow is $-170 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $235k (11.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $207k (21.7% below list).
• Recommended offer: $207k (21.7% below list) — sets the bar for 1% rule.
• Cap rate 5.5% vs local median 4.1% in Huntertown — 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 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; 1 comparable units currently listed for rent nearby; solid renter incomes; 1,861 units permitted in Allen County in 2024 (576 in 5+ unit buildings).
• This rent runs 31% 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 $8k 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 37 days — a 3% lower offer ($257k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y ago 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.
• Current owner paid $225k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $207,302 (21.7% 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. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 22% concession, seller financing, or rate buy-down credit?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. 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: 0.78% ✗
• Cap rate: 5.53%
• Cash-on-cash: -2.74%
• DSCR: 0.88
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $251,517
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2806 Rivulet Run	0.17mi	3/2.0	1,189 (-4%)	1mo	$255,000	$214	85
12030 Breezy Knoll Ct	0.15mi	3/2.0	1,306 (+5%)	5mo	$250,000	$191	80
12526 Wandering Way Way	0.39mi	3/2.0	1,215 (-2%)	5mo	$255,000	$210	75
2903 Rivulet Run	0.15mi	3/2.0	1,200 (-3%)	19mo	$239,900	$200	72
12210 Tumblebrook Ln	0.28mi	3/2.0	1,184 (-4%)	11mo	$250,000	$211	70
2714 Ascension Ct	0.18mi	3/2.0	1,149 (-7%)	14mo	$233,000	$203	68
2630 Sassafras Cv	0.40mi	3/2.0	1,209 (-2%)	18mo	$256,000	$212	63
2711 Sassafras Cv	0.42mi	3/2.0	1,356 (+9%)	4mo	$267,000	$197	61
11625 Maywin Dr	0.53mi	3/2.0	1,199 (-3%)	11mo	$247,500	$206	61
3027 Limerick Pl	0.61mi	3/2.0	1,292 (+4%)	14mo	$234,900	$182	53
12003 Tapered Bank Run	0.31mi	3/2.0	1,384 (+12%)	17mo	$255,000	$184	52
12011 Caroll Creek Run	0.70mi	3/2.0	1,371 (+11%)	15mo	$246,250	$180	37

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: -15.9%
• Equity multiple: 0.41×
• Total profit: $-43,573
• Equity at exit: $39,497

10-year hold

• IRR: -1.0%
• Equity multiple: 0.92×
• Total profit: $-6,016
• Equity at exit: $22,904

Cash invested: $74,172 (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: 10.6×

Monthly cashflow live

• Estimated rent: $2,073 medium
• Mortgage (P&I): −$1,389
• Tax from tax record: −$308 /mo · $3,692/yr
• Insurance: −$110
• HOA: −$0
• Vacancy / Maint / Mgmt: −$435
• Net cashflow: $-170

Break-even live

Break-even rent $2,288

Max offer price $234,957

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: $66,225
• Closing costs: $7,947
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3115 Carroll Rd Fort Wayne, IN	3.0	2.0	1244	$2,300	$1.85	13d	1	0.55mi

Listing history 20 events

1. 2026-06-18
   days on market $264,900 Active 37 DOM
2. 2026-06-17
   days on market $264,900 Active 36 DOM
3. 2026-06-16
   days on market $264,900 Active 35 DOM
4. 2026-06-15
   days on market $264,900 Active 34 DOM
5. 2026-06-14
   days on market $264,900 Active 32 DOM
6. 2026-06-13
   days on market $264,900 Active 31 DOM
7. 2026-06-10
   days on market $264,900 Active 29 DOM
8. 2026-06-09
   days on market $264,900 Active 28 DOM
9. 2026-06-08
   days on market $264,900 Active 27 DOM
10. 2026-06-07
    days on market $264,900 Active 26 DOM
11. 2026-06-03
    days on market $264,900 Active 22 DOM
12. 2026-06-02
    days on market $264,900 Active 21 DOM
13. 2026-06-01
    days on market $264,900 Active 20 DOM
14. 2026-05-31
    days on market $264,900 Active 19 DOM
15. 2026-05-30
    days on market $264,900 Active 18 DOM
16. 2026-05-13
    price $264,900 143-char remark
17. 2026-05-12
    listed $259,900 Active 143-char remark
18. 2023-06-16
    soldstatus $225,000 Closed 43-char remark

    Show marketing remark (43 chars)

    Home being entered for comparable purposes.

19. 2023-06-04
    historical 43-char remark

    Show marketing remark (43 chars)

    Home being entered for comparable purposes.

20. 2023-06-02
    listed $240,000 43-char remark

    Show marketing remark (43 chars)

    Home being entered for comparable purposes.

ⓘ 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: $3,692 · $308/mo
• Projected year-2 tax: $3,692 · $308/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 ≥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: $24,876
• − Mortgage interest: −$14,839
• − Property taxes: −$3,692
• − Insurance: −$1,324
• − Repairs & maintenance: −$1,990
• − Management: −$1,990
• − Depreciation: −$7,706
• Taxable loss: −$6,665
• Est. tax savings @ 24.0%: +$1,600
• After-tax cash flow: $-434/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 — 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

• Census place: Huntertown, IN
• 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

+10.4% since first listed

5 events — show timeline

• 2026-05-13 Price Changed $264,900 FSBO.com
• 2026-05-12 Listed $259,900 FSBO.com
• 2023-06-16 Sold (MLS) $225,000 IRMLS
• 2023-06-04 Delisted — IRMLS
• 2023-06-02 Listed $240,000 IRMLS

Property tax history

+11.7%/yr

Latest (2024): $3,692 · +5.3% YoY. Source: county tax records.