1219 Estella Ave · Fort Wayne, IN 46803

$199,900

3 bd · 1.0 ba · 1,352 sqft · SingleFamily public records · 1 Days on market

Built 1940 0.72 ac lot Est $199k · at est.

---

Why this score? — see what drove the C- 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 +15.1/30.0
• Appreciation +10.0/10.0
• ARV discount +7.2/15.0
• DSCR +4.6/10.0
• Livability +4.2/5.0
• Schools +3.6/10.0
• 1% rule +2.8/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Excellent location in New Haven, in need of some TLC.

Key facts

• 0.72 acre lot
• 2 garage spots
• Built 1940

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $200k.

Deal economics

• At list price, monthly cash flow is $66 ($791/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 $157k (21.5% below list).
• Recommended offer: $157k (21.5% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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-, employment D+.
• 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: 52 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,861 units permitted in Allen County in 2024 (576 in 5+ unit buildings).

Forward outlook

• In year one you build about $21k of equity ($1k loan paydown + $20k appreciation (10.0% local appreciation)).
• Allen County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $56k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 10y ago; this cycle's ask is 427% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $39k; list at $200k implies a 413% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $156,903 (21.5% below list)

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.78% ✗
• Cap rate: 6.69%
• Cash-on-cash: 1.41%
• DSCR: 1.06
• GRM: 10.6

CMA / ARV

• ARV (on-the-fly): $198,744
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1219 Estella Ave	0.00mi	3/2.0	1,352 (0%)	1mo	$198,400	$147	95
6407 Old Maumee Rd	0.36mi	3/1.5	1,394 (+3%)	11mo	$205,000	$147	67
1918 Sunnymede Dr	0.62mi	3/1.0	1,284 (-5%)	12mo	$155,000	$121	52
2046 Dellwood Dr	0.71mi	2/2.0 (-1)	1,516 (+12%)	20mo	$155,000	$102	21

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 25.3%
• Equity multiple: 3.02×
• Total profit: $112,966
• Equity at exit: $180,086

10-year hold

• IRR: 22.3%
• Equity multiple: 6.88×
• Total profit: $329,157
• Equity at exit: $388,362

Cash invested: $55,972 (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 46803

• Active inventory: 52
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $1,569 high
• Mortgage (P&I): −$1,048
• Tax from tax record: −$42 /mo · $504/yr
• Insurance: −$83
• HOA: −$0
• Vacancy / Maint / Mgmt: −$329
• Net cashflow: $66

Break-even live

Break-even rent $1,486

Max offer price $199,900

Occupancy floor 91%

Sensitivity live

Price	-10% $179	-5% $123	+0% $66	+5% $9	+10% $-47
Rent	-10% $-58	-5% $4	+0% $66	+5% $128	+10% $190
Rate	-1.0pp $167	-0.5pp $117	base $66	+0.5pp $14	+1.0pp $-39

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: $49,975
• Closing costs: $5,997
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2396 Cinema Xing Fort Wayne, IN	3.0	2.5	1580	$1,999	$1.27	44d	15	0.88mi
1357 Lofton Way Fort Wayne, IN	3.0	2.0	1448	$1,995	$1.38	14d	1	0.90mi
920 Courtney Dr New Haven, IN	3.0	1.5	1000	$1,499	$1.50	14d	1	1.22mi
5007 Vermont Ln Fort Wayne, IN	2.0	1.5	1224	$1,295	$1.06	14d	1	1.32mi
5005 Vermont Ln Fort Wayne, IN	2.0	1.5	1224	$1,295	$1.06	14d	1	1.32mi

Listing history 6 events

1. 2026-04-26
   status Pending
2. 2026-04-25
   price $199,900
3. 2026-04-24
   status Active
4. 2026-04-24
   price $194,900
5. 2016-08-17
   soldstatus $39,000 53-char remark

   Show marketing remark (53 chars)

   Excellent location in New Haven, in need of some TLC.

6. 2016-07-18
   listed $37,900 53-char remark

   Show marketing remark (53 chars)

   Excellent location in New Haven, in need of some TLC.

ⓘ 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: $504 · $42/mo
• Projected year-2 tax: $1,102 · $92/mo
• Expected delta: +$598/yr (+$50/mo · 118.5%)

ⓘ 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
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $18,828
• − Mortgage interest: −$11,198
• − Property taxes: −$504
• − Insurance: −$1,000
• − Repairs & maintenance: −$1,506
• − Management: −$1,506
• − Depreciation: −$5,815
• Taxable loss: −$2,701
• Est. tax savings @ 24.0%: +$648
• After-tax cash flow: $1,439/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 — 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

• County: Allen County · 326,813 people
• City population: 326,813
• Metro: Fort Wayne, IN
• Population (ZIP): 10,994
• Household income: $34,381
• Rent vs Own: 56.4% rent · 43.6% own
• Severe rent burden: 660.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Black 42% White 27% Hispanic / Latino 24% Two or more races 10% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 17% Puerto Rican 1%
• Common ancestry: Lithuanian 1% Iranian 1% Serbian 1%
• Foreign-born: 11% · Canada, Philippines
• Languages at home: 81% English-only · Spanish 16% Other Asian/Pacific 1% French/Haitian/Cajun 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: ▲ 107.58%
• Current HPI: 404.7976
• 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

+427.4% since first listed

6 events — show timeline

• 2026-04-26 Pending — IRMLS
• 2026-04-25 Price Changed $199,900 IRMLS
• 2026-04-24 Relisted — IRMLS
• 2026-04-24 Price Changed $194,900 IRMLS
• 2016-08-17 Sold (MLS) $39,000 IRMLS
• 2016-07-18 Listed $37,900 IRMLS

Property tax history

+8.3%/yr

Latest (2024): $504 · +18.1% YoY. Source: county tax records.