11732 E Tillman Rd · Maples, IN 46816

$144,900

2 bd · 2.0 ba · 1,496 sqft · SingleFamily public records · 2 Days on market

Built 1895 2.14 ac lot

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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 +12.4/30.0
• ARV discount +7.5/15.0
• DSCR +3.7/10.0
• Schools +3.6/10.0
• 1% rule +2.5/10.0
• Rent growth +2.5/5.0
• Livability +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come and see this conventional 2-story home sitting on 2.14 acres of land! This house also comes with a 2-car detached garage and lots of potential! If you enjoy older homes then this house will be the perfect fit for you. Don't let this opportunity for a great home pass you by! This is a Fannie Mae Homepath property. 3% closing cost assistance available to first time home buyers.   Restrictions apply.

Key facts

• 2.14 acres
• Detached garage
• 2.14 acre lot

Tags

• 2.14 ACRES
• DETACHED GARAGE

Property features AI

Finance

• Financial info: $1,600 annual tax (provided)

Exterior

• Parking: Detached 2-car garage
• Utilities: Private well water; Septic tank
• Home design: Single-family, site-built home; 2 stories
• Construction: Aluminum siding
• Exterior features: Asphalt roof; Lot approximately 200 x 200 (about 2.14 acres); Rural subdivision setting

Interior

• Bedrooms: Total rooms: 5
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Unfinished basement; Main-level laundry
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $-23 ($-280/yr) — negative.
• To cash-flow at today's rent, offer at most $141k (2.8% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $109k (24.5% below list).
• Recommended offer: $109k (24.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads: area grade D — affects rentability + tenant quality, not the cash-flow math above.
• 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.
• Zoned schools: New Haven Primary School (470 students, 61% FRL); New Haven Jr/Sr High School (math 21% / reading 50%, grade F, #263 of 369 statewide, top 72%, 1,494 students, 67% FRL) — zoned schools average 64% FRL vs 43% district-wide (21 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 50 active listings in the ZIP; 1,861 units permitted in Allen County in 2024 (576 in 5+ unit buildings).

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 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y 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 $53k; list at $145k implies a 173% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $109,368 (24.5% 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. Built in 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 0.75% ✗
• Cap rate: 6.10%
• Cash-on-cash: -0.69%
• DSCR: 0.97
• GRM: 11.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -17.5%
• Equity multiple: 0.38×
• Total profit: $-25,022
• Equity at exit: $21,605

10-year hold

• IRR: -9.6%
• Equity multiple: 0.41×
• Total profit: $-23,922
• Equity at exit: $12,528

Cash invested: $40,572 (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: 11.0×

Monthly cashflow live

• Estimated rent: $1,094 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$67 /mo · $806/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $-23

Break-even live

Break-even rent $1,123

Max offer price $140,772

Occupancy floor 97%

Sensitivity live

Price	-10% $59	-5% $18	+0% $-23	+5% $-64	+10% $-105
Rent	-10% $-110	-5% $-67	+0% $-23	+5% $20	+10% $63
Rate	-1.0pp $50	-0.5pp $13	base $-23	+0.5pp $-61	+1.0pp $-99

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Listing history 5 events

1. 2026-05-30
   status $144,900 Pending 2 DOM
2. 2026-05-29
   status Pending
3. 2026-05-27
   listed $144,900 Active
4. 2016-09-27
   soldstatus $53,000 410-char remark

   Show marketing remark (410 chars)

   Come and see this conventional 2-story home sitting on 2.14 acres of land! This house also comes with a 2-car detached garage and lots of potential! If you enjoy older homes then this house will be the perfect fit for you. Don't let this opportunity for a great home pass you by! This is a Fannie Mae Homepath property. 3% closing cost assistance available to first time home buyers.   Restrictions apply.

5. 2016-06-29
   listed $59,000 410-char remark

   Show marketing remark (410 chars)

   Come and see this conventional 2-story home sitting on 2.14 acres of land! This house also comes with a 2-car detached garage and lots of potential! If you enjoy older homes then this house will be the perfect fit for you. Don't let this opportunity for a great home pass you by! This is a Fannie Mae Homepath property. 3% closing cost assistance available to first time home buyers.   Restrictions apply.

ⓘ 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: $806 · $67/mo
• Projected year-2 tax: $1,019 · $85/mo
• Expected delta: +$213/yr (+$18/mo · 26.5%)

ⓘ 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 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,124
• − Mortgage interest: −$8,117
• − Property taxes: −$806
• − Insurance: −$724
• − Repairs & maintenance: −$1,050
• − Management: −$1,050
• − Depreciation: −$4,215
• Taxable loss: −$2,838
• Est. tax savings @ 24.0%: +$681
• After-tax cash flow: $401/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 — Maples

No livability data for this city. (Only ~50 U.S. cities are tracked.)

Census & demographics

• County: Allen County · 326,813 people
• 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

+145.6% since first listed

4 events — show timeline

• 2026-05-29 Pending — IRMLS
• 2026-05-27 Listed $144,900 IRMLS
• 2016-09-27 Sold (MLS) $53,000 IRMLS
• 2016-06-29 Listed $59,000 IRMLS

Property tax history

+1.7%/yr

Latest (2024): $806 · +3.3% YoY. Source: county tax records.