6304 Hazelett Rd · Fort Wayne, IN 46835

$169,900

3 bd · 1.5 ba · 1,572 sqft · SingleFamily public records · 11 Days on market

Built 1957 0.93 ac lot $108/sqft · 27% below area Est $259k · 34% under

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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 +18.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.7/10.0
• 1% rule +5.6/10.0
• Rent growth +4.7/5.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

* Join us for an Open House this Saturday, May 16th between 12:30 PM - 2:30 PM! * Situated on a generous 1-acre lot in the ’35, this 4-bedroom, 1.5-bath home offers space, functionality, and flexibility both inside and out. The property features a 3-car garage and a large driveway with turnaround space, providing ample parking for guests, recreational vehicles, or everyday convenience. Inside, the home includes abundant storage and counter space, a mud room, a full basement, and additional attic storage to accommodate a variety of needs. A standout feature is the barn with concrete flooring, loft space, and utilities, offering excellent potential for hobbies, storage, workshop use, o

Key facts

• Large driveway
• Full basement
• 1 acre lot

Tags

• 1 ACRE LOT
• 3 CAR GARAGE
• LARGE DRIVEWAY
• MUD ROOM
• FULL BASEMENT
• BARN WITH CONCRETE FLOORING

Property features AI

Finance

• Other: Workshop and barn(s) on property; Lot dimensions approximately 130 x 320 (about 0.93 acres); Subdivision: Kreiselmeyer

Exterior

• Parking: Attached garage; 3 garage spaces; Garage with opener; Off-street parking; Gravel surfaces
• Security: Smoke detectors
• Utilities: Private well water; Public sewer
• Home design: Single-family residence; Site-built home; 2 stories
• Construction: Vinyl siding; Asphalt shingle roof; Full unfinished basement with sump pump
• Exterior features: Deck; Covered porch; Porch; Level lot

Interior

• Kitchen: Disposal; Dishwasher; Refrigerator; Electric range
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom; 1 half bathroom; 2 main-level bathrooms
• Heating & cooling: Natural gas forced-air heating; Central air conditioning; Ceiling fans for additional cooling
• Interior features: Vaulted ceilings; Entrance foyer; Ceiling fans; Natural woodwork; One fireplace (none specified in features)
• Laundry & utility: Washer and dryer included; Laundry located in basement; Electric water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $151 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $170k).
• Cap rate 7.4% 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: Arlington Elementary School (math 37% / reading 32%, grade F, #597 of 994 statewide, top 63%, 420 students, 54% FRL); Jefferson Middle School (math 22% / reading 29%, grade F, #243 of 330 statewide, top 74%, 682 students, 58% FRL); Northrop High School (math 25% / reading 62%, grade F, #191 of 369 statewide, top 52%, 2,136 students, 54% FRL).
• Market conditions: Rents rising fast (+8.9%/yr); 180 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 $1k of loan paydown is wiped out by about $5k 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 + 8.0% rent growth), your $48k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1957 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $169,900

Questions for the listing agent

1. Built in 1957 — 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: 1.06% ✓
• Cap rate: 7.36%
• Cash-on-cash: 3.81%
• DSCR: 1.17
• GRM: 7.9

CMA / ARV

• ARV (median comp): $258,771
• List price: $169,900
• Delta: -34.34%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6304 Hazelett Rd	0.00mi	4/1.5 (+1)	1,748 (+11%)	1mo	$180,000	$103	76
7017 Saint Joe Center Rd	0.57mi	3/2.0	1,540 (-2%)	3mo	$197,000	$128	66
5516 Newland Pl	0.65mi	3/2.0	1,568 (-0%)	2mo	$270,000	$172	66
7314 Wood Meadows Ln	0.35mi	4/2.0 (+1)	1,462 (-7%)	4mo	$267,500	$183	62
7179 Wolfsboro Ln	0.59mi	3/2.0	1,649 (+5%)	1mo	$348,000	$211	62
6232 Verandah Ln	0.39mi	3/2.0	1,399 (-11%)	1mo	$252,000	$180	60
5925 Gate Tree Ln	0.48mi	3/2.0	1,438 (-8%)	1mo	$250,000	$174	60
6201 Tarbet Pl	0.15mi	3/2.0	1,346 (-14%)	9mo	$225,000	$167	60
6015 Running Brook Ln	0.39mi	3/2.0	1,363 (-13%)	4mo	$257,000	$189	54
6908 Hillsboro Ct	0.75mi	3/2.0	1,543 (-2%)	8mo	$240,000	$156	54
5607 Newland Pl	0.64mi	3/2.5	1,508 (-4%)	9mo	$270,000	$179	52
6903 Wolfsboro Ln	0.74mi	3/2.0	1,452 (-8%)	8mo	$195,000	$134	44

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -4.4%
• Equity multiple: 0.82×
• Total profit: $-8,329
• Equity at exit: $25,333

10-year hold

• IRR: 10.6%
• Equity multiple: 2.02×
• Total profit: $48,679
• Equity at exit: $14,690

Cash invested: $47,572 (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 46835

• Rents YoY: 8.9%
• Active inventory: 180
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,796 high
• Mortgage (P&I): −$891
• Tax from tax record: −$306 /mo · $3,667/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$377
• Net cashflow: $151

Break-even live

Break-even rent $1,604

Max offer price $169,900

Occupancy floor 87%

Sensitivity live

Price	-10% $247	-5% $199	+0% $151	+5% $103	+10% $55
Rent	-10% $9	-5% $80	+0% $151	+5% $222	+10% $293
Rate	-1.0pp $237	-0.5pp $194	base $151	+0.5pp $107	+1.0pp $62

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
7911 Sedgewick Pl Fort Wayne, IN	3.0	2.5	1806	$1,950	$1.08	44d	1	0.12mi
8422 Lionsgate Run Fort Wayne, IN	3.0	2.5	1560	$1,999	$1.28	14d	1	0.45mi
5450 Kinzie Ct Fort Wayne, IN	2.0	2.0	1294	$1,992	$1.54	14d	2	1.15mi
6031 Evard Rd Fort Wayne, IN	2.0	2.0	1200	$1,600	$1.33	22d	1	1.22mi
6031 Evard Rd Fort Wayne, IN	2.0	2.0	1200	$1,600	$1.33	44d	4	1.22mi
6835 Solid Rock Dr Fort Wayne, IN	2.0	2.0	1200	$1,600	$1.33	14d	1	1.22mi
6879 Solid Rock Dr Fort Wayne, IN	3.0	2.5	1900	$2,000	$1.05	44d	1	1.24mi
4725 Maple Terrace Pkwy Fort Wayne, IN	4.0	2.0	2068	$2,200	$1.06	14d	1	1.24mi

Listing history 2 events

1. 2026-05-16
   historical Active Under Contract 1069-char remark
2. 2026-05-15
   listed $169,900 Active 1069-char remark

ⓘ 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: $3,667 · $306/mo
• Projected year-2 tax: $3,667 · $306/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 3 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,547
• − Mortgage interest: −$9,517
• − Property taxes: −$3,667
• − Insurance: −$850
• − Repairs & maintenance: −$1,724
• − Management: −$1,724
• − Depreciation: −$4,943
• Taxable loss: −$876
• Est. tax savings @ 24.0%: +$210
• After-tax cash flow: $2,024/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): 38,166
• Household income: $77,152
• Rent vs Own: 26.0% rent · 74.0% own
• Severe rent burden: 961.0

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 (77%)
• Race & ethnicity: White 77% Two or more races 10% Hispanic / Latino 8% Black 6% Asian 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 3% Lithuanian 3% Romanian 2%
• Foreign-born: 6% · Canada, Vietnam, Philippines
• Languages at home: 91% English-only · Spanish 3% Other Asian/Pacific 2% 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: ▼ -236.62%
• Current HPI: 236.3419
• Rent YoY: ▲ 8.95%
• 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

+5.9% since first listed

4 events — show timeline

• 2026-05-29 Sold (MLS) $180,000 IRMLS
• 2026-05-26 Pending — IRMLS
• 2026-05-16 Contingent — IRMLS
• 2026-05-15 Listed $169,900 IRMLS

Property tax history

+8.6%/yr

Latest (2024): $3,667 · +2.7% YoY. Source: county tax records.