5700 Fontana Dr · Fort Wayne, IN 46815

$215,000

4 bd · 2.5 ba · 1,908 sqft · SingleFamily public records · 41 Days on market

Built 1967 9,592 sqft lot $113/sqft · 7% below area Est $231k · 7% under

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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 +17.6/30.0
• ARV discount +10.7/15.0
• DSCR +5.5/10.0
• 1% rule +4.3/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 5700 Fontana Drive, a two-story home offering 4 bedrooms, 2 full baths, 1 half bath, and 1,908 square feet of living space. The kitchen features white cabinetry, ample counter space, and a center island, and opens to a dining area with tile flooring. A spacious lower-level living area provides additional living space and includes sliding door access to the backyard. The home offers multiple bedrooms, a dedicated laundry area, and a mix of flooring throughout. The fully fenced backyard includes a deck, patio area, and a storage shed. Schedule your showing today!

Key facts

• Dining area
• Tile flooring
• Two story home

Tags

• TWO STORY HOME
• WHITE CABINETRY
• CENTER ISLAND
• DINING AREA
• TILE FLOORING
• LOWER LEVEL LIVING AREA

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $170 ($2k/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 $199k (7.5% below list).
• Recommended offer: $199k (7.5% below list) — sets the bar for 1% rule.
• Cap rate 7.2% 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+.
• 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.
• Market conditions: 101 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,861 units permitted in Allen County in 2024 (576 in 5+ unit buildings).
• This rent runs 33% of the median local income ($73k/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 $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 41 days — a 3% lower offer ($209k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $25k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $152k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $198,878 (7.5% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1967 — 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. 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: 0.93% ✗
• Cap rate: 7.24%
• Cash-on-cash: 3.39%
• DSCR: 1.15
• GRM: 9.0

CMA / ARV

• ARV (median comp): $231,464
• List price: $215,000
• Delta: -7.11%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5700 Fontana Dr	0.00mi	4/2.5	1,908 (0%)	0mo	$205,000	$107	100
4220 Thorton Dr	0.13mi	4/2.5	1,752 (-8%)	1mo	$268,000	$153	79
4321 Oakhurst Dr	0.10mi	4/2.5	1,728 (-9%)	5mo	$243,000	$141	76
5107 Louden Dr	0.43mi	4/2.5	1,982 (+4%)	4mo	$260,000	$131	71
5014 Tristam Ct	0.42mi	4/2.5	2,052 (+8%)	0mo	$275,400	$134	68
6030 Glenview Dr	0.27mi	4/2.0	2,141 (+12%)	1mo	$240,000	$112	64
4135 Oakleaf Dr	0.46mi	3/2.5 (-1)	1,800 (-6%)	1mo	$195,000	$108	64
6033 Bohde Trl	0.46mi	4/2.5	2,115 (+11%)	0mo	$302,000	$143	60
4835 Eicher Dr	0.44mi	4/3.0	2,061 (+8%)	5mo	$339,000	$164	60
4024 Oakleaf Dr	0.52mi	3/1.0 (-1)	2,044 (+7%)	1mo	$193,000	$94	52
5901 Thoreau Ave	0.54mi	4/2.0	1,656 (-13%)	1mo	$252,000	$152	50
4209 Reed Rd	0.63mi	4/2.0	1,646 (-14%)	4mo	$130,000	$79	42

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: -11.0%
• Equity multiple: 0.60×
• Total profit: $-24,025
• Equity at exit: $32,057

10-year hold

• IRR: -1.7%
• Equity multiple: 0.88×
• Total profit: $-7,056
• Equity at exit: $18,589

Cash invested: $60,200 (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 46815

• Active inventory: 101
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,989 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$184 /mo · $2,207/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $170

Break-even live

Break-even rent $1,773

Max offer price $215,000

Occupancy floor 86%

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4725 Maple Terrace Pkwy Fort Wayne, IN	4.0	2.0	2068	$2,200	$1.06	13d	1	0.75mi
4251 Scokian Dr Fort Wayne, IN	3.0	2.0	1328	$2,100	$1.58	43d	1	1.04mi
4920 Desoto Dr Fort Wayne, IN	4.0	2.0	1738	$1,924	$1.11	13d	1	1.12mi
3226 Arrowwood Dr Fort Wayne, IN	4.0	2.0	2096	$1,949	$0.93	43d	1	1.17mi
3010 Simcoe Dr Fort Wayne, IN	1.0–3.0	1.0–2.5	940	$1,609	$1.71	13d	10	1.20mi
3715 Marigold Dr Fort Wayne, IN	4.0	2.5	2535	$2,200	$0.87	43d	1	1.43mi

Listing history 11 events

1. 2026-05-08
   status Pending 578-char remark

   Show marketing remark (578 chars)

   Welcome to 5700 Fontana Drive, a two-story home offering 4 bedrooms, 2 full baths, 1 half bath, and 1,908 square feet of living space. The kitchen features white cabinetry, ample counter space, and a center island, and opens to a dining area with tile flooring. A spacious lower-level living area provides additional living space and includes sliding door access to the backyard. The home offers multiple bedrooms, a dedicated laundry area, and a mix of flooring throughout. The fully fenced backyard includes a deck, patio area, and a storage shed. Schedule your showing today!

2. 2026-04-28
   price $215,000 578-char remark

   Show marketing remark (578 chars)

   Welcome to 5700 Fontana Drive, a two-story home offering 4 bedrooms, 2 full baths, 1 half bath, and 1,908 square feet of living space. The kitchen features white cabinetry, ample counter space, and a center island, and opens to a dining area with tile flooring. A spacious lower-level living area provides additional living space and includes sliding door access to the backyard. The home offers multiple bedrooms, a dedicated laundry area, and a mix of flooring throughout. The fully fenced backyard includes a deck, patio area, and a storage shed. Schedule your showing today!

3. 2026-04-23
   price $228,900 578-char remark

   Show marketing remark (578 chars)

   Welcome to 5700 Fontana Drive, a two-story home offering 4 bedrooms, 2 full baths, 1 half bath, and 1,908 square feet of living space. The kitchen features white cabinetry, ample counter space, and a center island, and opens to a dining area with tile flooring. A spacious lower-level living area provides additional living space and includes sliding door access to the backyard. The home offers multiple bedrooms, a dedicated laundry area, and a mix of flooring throughout. The fully fenced backyard includes a deck, patio area, and a storage shed. Schedule your showing today!

4. 2026-04-14
   price $232,900 578-char remark

   Show marketing remark (578 chars)

   Welcome to 5700 Fontana Drive, a two-story home offering 4 bedrooms, 2 full baths, 1 half bath, and 1,908 square feet of living space. The kitchen features white cabinetry, ample counter space, and a center island, and opens to a dining area with tile flooring. A spacious lower-level living area provides additional living space and includes sliding door access to the backyard. The home offers multiple bedrooms, a dedicated laundry area, and a mix of flooring throughout. The fully fenced backyard includes a deck, patio area, and a storage shed. Schedule your showing today!

5. 2026-03-27
   listed $239,900 Active 578-char remark

   Show marketing remark (578 chars)

   Welcome to 5700 Fontana Drive, a two-story home offering 4 bedrooms, 2 full baths, 1 half bath, and 1,908 square feet of living space. The kitchen features white cabinetry, ample counter space, and a center island, and opens to a dining area with tile flooring. A spacious lower-level living area provides additional living space and includes sliding door access to the backyard. The home offers multiple bedrooms, a dedicated laundry area, and a mix of flooring throughout. The fully fenced backyard includes a deck, patio area, and a storage shed. Schedule your showing today!

6. 2020-12-04
   soldstatus $152,000
7. 2020-10-09
   listed $149,900
8. 2018-09-13
   soldstatus $116,750
9. 2018-07-26
   listed $119,000
10. 2018-01-25
    listed $119,000
11. 2015-05-09
    listed $112,000

ⓘ 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: $2,207 · $184/mo
• Projected year-2 tax: $2,207 · $184/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: $23,865
• − Mortgage interest: −$12,043
• − Property taxes: −$2,207
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,909
• − Management: −$1,909
• − Depreciation: −$6,255
• Taxable loss: −$1,533
• Est. tax savings @ 24.0%: +$368
• After-tax cash flow: $2,410/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): 27,238
• Household income: $73,239
• Rent vs Own: 24.9% rent · 75.1% own
• Severe rent burden: 604.0

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 (78%)
• Race & ethnicity: White 78% Black 9% Two or more races 7% Asian 5% Hispanic / Latino 4%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 2%
• Foreign-born: 4% · Philippines, Canada
• Languages at home: 93% English-only · Other Asian/Pacific 4% Spanish 1% Other Indo-European 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: ▼ -219.81%
• Current HPI: 245.2095
• 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

+92.0% since first listed

11 events — show timeline

• 2026-05-08 Pending — IRMLS
• 2026-04-28 Price Changed $215,000 IRMLS
• 2026-04-23 Price Changed $228,900 IRMLS
• 2026-04-14 Price Changed $232,900 IRMLS
• 2026-03-27 Listed $239,900 IRMLS
• 2020-12-04 Sold (MLS) $152,000 IRMLS
• 2020-10-09 Listed $149,900 IRMLS
• 2018-09-13 Sold (MLS) $116,750 IRMLS
• 2018-07-26 Listed $119,000 IRMLS
• 2018-01-25 Listed $119,000 IRMLS
• 2015-05-09 Listed $112,000 IRMLS

Property tax history

-0.2%/yr

Latest (2024): $2,207 · +3.5% YoY. Source: county tax records.