7311 Tangerine Ln · Fort Wayne, IN 46825

$184,900

3 bd · 1.0 ba · 962 sqft · SingleFamily public records · 21 Days on market

Built 1981 8,276 sqft lot Est $183k · at est.

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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 +20.0/30.0
• ARV discount +7.0/15.0
• DSCR +6.3/10.0
• Livability +4.2/5.0
• 1% rule +4.0/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

This 3-bedroom, 1-bath ranch offers a practical single-level layout with an attached 1-car garage and fenced backyard. Situated on a slab foundation, the home features a compact kitchen, comfortable living space, and great potential for updates and personalization. Major mechanical updates include newer windows, a roof replaced in 2018, and a furnace installed in 2023. Property will require significant cosmetic improvements and cleaning, including remediation related to prior indoor smoking. Convenient opportunity for investors, renovators, or buyers looking to build equity through improvements.

Key facts

• Slab foundation
• Attached garage
• Newer windows

Tags

• ATTACHED GARAGE
• FENCED BACKYARD
• SLAB FOUNDATION
• NEWER WINDOWS
• ROOF REPLACED
• FURNACE INSTALLED

Property features AI

Exterior

• Parking: Attached garage with garage door opener; Concrete driveway and off-street parking; 1 garage space
• Utilities: Public water; Public sewer; Natural gas available
• Home design: Single-family residence; Site-built home; One story
• Construction: Stone and vinyl siding; Slab foundation; Built as a site-built home
• Exterior features: Patio; Chain-link fencing; Level lot; Lot dimensions approximately 65 x 125

Interior

• Kitchen: Electric range; Microwave; Garbage disposal; Laminate counters
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Breakfast bar; Laminate countertops; One fireplace (no special features listed)
• Laundry & utility: Washer and dryer included; Electric dryer hookup on main level; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $185k.

Deal economics

• At list price, monthly cash flow is $226 ($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 $166k (10.2% below list).
• Recommended offer: $166k (10.2% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 4.7% 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: Lincoln Elementary School (math 29% / reading 26%, grade F, #733 of 994 statewide, top 74%, 616 students, 71% FRL); Shawnee Middle School (math 11% / reading 22%, grade F, #287 of 330 statewide, top 88%, 675 students, 65% FRL); Northrop High School (math 25% / reading 62%, grade F, #191 of 369 statewide, top 52%, 2,136 students, 54% FRL) — zoned schools at 63% FRL track the district average.
• Market conditions: Rents flat; 108 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).

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

• It's been on market 21 days — a 2% lower offer ($182k) is reasonable based on typical stale-listing flexibility.

Recommended offer $166,130 (10.2% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
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: 0.90% ✗
• Cap rate: 7.76%
• Cash-on-cash: 5.24%
• DSCR: 1.23
• GRM: 9.3

CMA / ARV

• ARV (on-the-fly): $182,780
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1424 Apricot Ct	0.12mi	3/1.0	962 (0%)	4mo	$188,000	$195	91
7308 Tangerine Ln	0.03mi	3/1.0	936 (-3%)	9mo	$178,500	$191	87
1216 Applewood Rd	0.22mi	3/1.0	1,044 (+8%)	8mo	$185,000	$177	69
6918 Palmetta Ct	0.34mi	2/1.0 (-1)	936 (-3%)	9mo	$135,000	$144	67
1224 Bethany Ln	0.63mi	3/1.0	935 (-3%)	2mo	$137,000	$147	64
6517 Baytree Dr	0.56mi	3/1.0	1,025 (+6%)	6mo	$181,000	$177	58
6701 Bittersweet Dr	0.46mi	3/1.0	1,040 (+8%)	9mo	$177,000	$170	58
415 Grapevine Ln	0.60mi	3/1.0	900 (-6%)	8mo	$179,900	$200	54
910 Aurora Knoll Ln	0.74mi	3/1.0	1,032 (+7%)	1mo	$220,000	$213	52
6523 Meadow Wood Pl	0.59mi	3/1.5	1,052 (+9%)	7mo	$199,900	$190	49
7129 Cranberry Rd	0.50mi	3/1.0	1,097 (+14%)	9mo	$189,900	$173	46
903 May Pl	0.66mi	2/1.0 (-1)	858 (-11%)	9mo	$178,500	$208	39

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 · 0.81% rent growth · sell at horizon

5-year hold

• IRR: -10.4%
• Equity multiple: 0.63×
• Total profit: $-19,247
• Equity at exit: $27,569

10-year hold

• IRR: -4.1%
• Equity multiple: 0.76×
• Total profit: $-12,676
• Equity at exit: $15,987

Cash invested: $51,772 (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 46825

• Rents YoY: 0.8%
• Active inventory: 108
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,661 medium
• Mortgage (P&I): −$970
• Tax from tax record: −$40 /mo · $478/yr
• Insurance: −$77
• HOA: −$0
• Vacancy / Maint / Mgmt: −$349
• Net cashflow: $226

Break-even live

Break-even rent $1,375

Max offer price $184,900

Occupancy floor 81%

Sensitivity live

Price	-10% $331	-5% $278	+0% $226	+5% $174	+10% $121
Rent	-10% $95	-5% $160	+0% $226	+5% $292	+10% $357
Rate	-1.0pp $319	-0.5pp $273	base $226	+0.5pp $178	+1.0pp $129

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: $46,225
• Closing costs: $5,547
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5710 River Run Trl Fort Wayne, IN	1.0–3.0	1.0–2.0	937	$1,670	$1.78	15d	37	1.21mi
2302 E Wallen Rd Fort Wayne, IN	1.0–2.0	1.0–2.0	876	$1,386	$1.58	15d	11	1.34mi

Listing history 16 events

1. 2026-06-18
   days on market $184,900 Active 21 DOM
2. 2026-06-17
   days on market $184,900 Active 20 DOM
3. 2026-06-16
   days on market $184,900 Active 19 DOM
4. 2026-06-15
   price $184,900 Active 18 DOM
5. 2026-06-15
   days on market $194,900 Active 18 DOM
6. 2026-06-14
   days on market $194,900 Active 16 DOM
7. 2026-06-10
   days on market $194,900 Active 13 DOM
8. 2026-06-09
   days on market $194,900 Active 12 DOM
9. 2026-06-08
   days on market $194,900 Active 11 DOM
10. 2026-06-07
    pricedays on market $194,900 Active 10 DOM
11. 2026-06-03
    days on market $199,900 Active 6 DOM
12. 2026-06-02
    days on market $199,900 Active 5 DOM
13. 2026-06-01
    days on market $199,900 Active 4 DOM
14. 2026-05-31
    days on market $199,900 Active 3 DOM
15. 2026-05-30
    days on market $199,900 Active 2 DOM
16. 2026-05-28
    listed $199,900 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: $478 · $40/mo
• Projected year-2 tax: $1,025 · $85/mo
• Expected delta: +$547/yr (+$46/mo · 114.4%)

ⓘ 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: $19,936
• − Mortgage interest: −$10,357
• − Property taxes: −$478
• − Insurance: −$924
• − Repairs & maintenance: −$1,595
• − Management: −$1,595
• − Depreciation: −$5,379
• Taxable loss: −$393
• Est. tax savings @ 24.0%: +$94
• After-tax cash flow: $2,805/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): 29,296
• Household income: $70,544
• Rent vs Own: 40.5% rent · 59.5% own
• Severe rent burden: 752.0

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 (71%)
• Race & ethnicity: White 71% Black 10% Asian 10% Hispanic / Latino 6% Two or more races 6%
• Hispanic origin (detail): Mexican 3% Puerto Rican 2%
• Common ancestry: Italian 4% Lithuanian 3% Romanian 3%
• Foreign-born: 12% · Philippines, Canada, Vietnam
• Languages at home: 85% English-only · Spanish 4% Other Asian/Pacific 3% Vietnamese 3%

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: ▼ -187.64%
• Current HPI: 238.2276
• Rent YoY: ▲ 0.81%
• 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

• 2026-05-28 Listed $199,900 IRMLS

Property tax history

+0.1%/yr

Latest (2024): $478 · +2.0% YoY. Source: county tax records.