5615 Squiredale Ln · Fort Wayne, IN 46818

$54,900

3 bd · 2.0 ba · 1,216 sqft · Manufactured · 214 Days on market

Built 2020 Good condition $45/sqft · 69% below area

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.4/5.0
• Livability +4.2/5.0
• Condition / age +3.8/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come see this well maintained 5 year old ranch home offering 3 bedroom and 2 full baths. Inside you will find a nice sized family room with an eat in kitchen. The master bedroom has its own full bathroom as well as large walk in closet. The second bedroom is a good size and the third bedroom could be used as an office or bedroom. All appliances stay including the washer and dryer. Ridgebrook Hills is an all-age mobile home community in Fort Wayne, Indiana. The community is managed by on-site staff who are there to assist residents, and it is pet-friendly, making it suitable for families with pets. Property is being sold as-is you are welcome to do inspections.

Key facts

• Eat in kitchen
• All age community
• Well maintained

Tags

• WELL MAINTAINED
• EAT IN KITCHEN
• LARGE WALK IN CLOSET
• PET FRIENDLY
• ALL AGE COMMUNITY

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $55k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($12k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $55k).
• Recommended offer: $48k (12.0% below list) — sets the bar for market timing.
• Cap rate 28.8% 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: Rents rising fast (+7.6%/yr); 327 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 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 $380 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 7.6% rent growth), your $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 214 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Recommended offer $48,312 (12.0% below list)

Questions for the listing agent

1. It's been on market 214 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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: 3.25% ✓
• Cap rate: 28.77%
• Cash-on-cash: 80.28%
• DSCR: 4.57
• GRM: 2.6

CMA / ARV

• ARV (median comp): $175,000
• List price: $54,900
• Delta: -68.63%
• Verdict: UNDERPRICED
• Comps: 1 within 2.0 mi

Projected returns pro-forma

-3.0% appreciation · 7.64% rent growth · sell at horizon

5-year hold

• IRR: 85.7%
• Equity multiple: 5.25×
• Total profit: $65,336
• Equity at exit: $8,186

10-year hold

• IRR: 89.9%
• Equity multiple: 12.75×
• Total profit: $180,675
• Equity at exit: $4,747

Cash invested: $15,372 (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: 2.6×

Monthly cashflow live

• Estimated rent: $1,782 medium
• Mortgage (P&I): −$288
• Tax est. 1.5%: −$69 /mo · $824/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$374
• Net cashflow: $1,028

Break-even live

Break-even rent $480

Max offer price $54,900

Occupancy floor 37%

Sensitivity live

Price	-10% $1,066	-5% $1,047	+0% $1,028	+5% $1,009	+10% $990
Rent	-10% $888	-5% $958	+0% $1,028	+5% $1,099	+10% $1,169
Rate	-1.0pp $1,056	-0.5pp $1,042	base $1,028	+0.5pp $1,014	+1.0pp $1,000

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2320 W Washington Center Rd Fort Wayne, IN	3.0	2.0	1088	$1,324	$1.22	14d	1	0.92mi
2102 W Point Dr Fort Wayne, IN	1.0–2.0	1.0	685	$1,116	$1.63	14d	44	1.44mi
3782 Thunderhawk Pass Fort Wayne, IN	3.0	2.0	1464	$2,095	$1.43	14d	5	1.49mi

Listing history 7 events

1. 2026-06-03
   days on market $54,900 Active 214 DOM
2. 2026-06-02
   days on market $54,900 Active 213 DOM
3. 2026-06-01
   days on market $54,900 Active 212 DOM
4. 2026-05-31
   days on market $54,900 Active 211 DOM
5. 2026-05-30
   days on market $54,900 Active 210 DOM
6. 2025-11-01
   listed $54,900 Active 668-char remark

   Show marketing remark (668 chars)

   Come see this well maintained 5 year old ranch home offering 3 bedroom and 2 full baths. Inside you will find a nice sized family room with an eat in kitchen. The master bedroom has its own full bathroom as well as large walk in closet. The second bedroom is a good size and the third bedroom could be used as an office or bedroom. All appliances stay including the washer and dryer. Ridgebrook Hills is an all-age mobile home community in Fort Wayne, Indiana. The community is managed by on-site staff who are there to assist residents, and it is pet-friendly, making it suitable for families with pets. Property is being sold as-is you are welcome to do inspections.

7. 2025-10-28
   listed $54,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $21,384
• − Mortgage interest: −$3,075
• − Property taxes: −$824
• − Insurance: −$274
• − Repairs & maintenance: −$1,711
• − Management: −$1,711
• − Depreciation: −$1,597
• Taxable income: $12,192
• Est. tax owed @ 24.0%: −$2,926
• After-tax cash flow: $9,414/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This well-maintained 5-year-old mobile home is ready for immediate occupancy with minor cosmetic updates to enhance its curb appeal and value.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint enhances curb appeal and property value.
• Resale Replace carpet in living areas — New carpet improves aesthetics and comfort.
• Rental Clean and maintain HVAC system — A well-maintained HVAC system ensures comfort and reduces utility costs.

Renovation cost estimate screening

Value-add ROI direction

• Resale Paint exterior siding — Fresh paint enhances curb appeal and property value. ↑
• Resale Replace carpet in living areas — New carpet improves aesthetics and comfort. ↑
• Rental Clean and maintain HVAC system — A well-maintained HVAC system ensures comfort and reduces utility costs. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 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

+0.0% since first listed

2 events — show timeline

• 2025-11-01 Listed $54,900 ForSaleByOwner.com
• 2025-10-28 Listed $54,900 IRMLS