3307 Laredo Ave · Fort Wayne, IN 46809

$110,000

2 bd · 1.0 ba · 876 sqft · SingleFamily public records · 1 Days on market

Built 1900 Est $93k · 18% over

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Why this score? — see what drove the F 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 +13.7/30.0
• DSCR +4.2/10.0
• Livability +4.2/5.0
• 1% rule +3.9/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

5 year old roof, no real recent updates selling as is. And could use updated kitchen ceiling paint cracked

Key facts

• Built 1900

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $-58 ($-690/yr) — negative.
• To cash-flow at today's rent, offer at most $102k (7.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $97k (11.5% below list).
• Recommended offer: $97k (11.5% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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-, 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: 36 active listings in the ZIP; 28 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 of loan paydown is wiped out by about $3k 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $97,357 (11.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.89% ✗
• Cap rate: 6.39%
• Cash-on-cash: 0.35%
• DSCR: 1.02
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $92,856
• Comps found: 7

Show comp detail 7 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1842 Kinsmoor Ave	0.37mi	3/1.0 (+1)	864 (-1%)	4mo	$60,000	$69	72
1711 Gruber Ave	0.55mi	2/1.0	910 (+4%)	11mo	$103,000	$113	59
3421 Ozark Ave	0.55mi	3/1.0 (+1)	925 (+6%)	3mo	$65,000	$70	58
1705 Kinsmoor Ave	0.52mi	3/1.0 (+1)	864 (-1%)	14mo	$92,000	$106	57
2320 Whitmore Ave	0.32mi	2/1.0	780 (-11%)	12mo	$123,000	$158	56
3724 Hiawatha Blvd	0.34mi	2/1.0	984 (+12%)	11mo	$185,200	$188	54
2431 Carlton Ct	0.65mi	3/1.5 (+1)	954 (+9%)	19mo	$100,000	$105	32

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: -19.9%
• Equity multiple: 0.30×
• Total profit: $-21,433
• Equity at exit: $16,401

10-year hold

• IRR: -12.8%
• Equity multiple: 0.25×
• Total profit: $-23,155
• Equity at exit: $9,511

Cash invested: $30,800 (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 46809

• Active inventory: 36
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $974 high
• Mortgage (P&I): −$577
• Tax est. 1.5%: −$138 /mo · $1,650/yr
• Insurance: −$46
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$204
• Net cashflow: $-58

Break-even live

Break-even rent $1,046

Max offer price $101,676

Occupancy floor —

Sensitivity live

Price	-10% $18	-5% $-20	+0% $-58	+5% $-96	+10% $-134
Rent	-10% $-134	-5% $-96	+0% $-58	+5% $-19	+10% $19
Rate	-1.0pp $-2	-0.5pp $-30	base $-58	+0.5pp $-86	+1.0pp $-115

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 28 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2215 Ontario St Fort Wayne, IN	3.0	1.0	850	$975	$1.15	44d	1	0.71mi
3112 Thompson Ave Fort Wayne, IN	1.0	1.0	802	$795	$0.99	22d	1	0.73mi
3201 Dinnen Ave Fort Wayne, IN	2.0	1.0	986	$999	$1.01	14d	1	0.75mi
1829 Hale Ave Unit 1/2 Fort Wayne, IN	1.0	1.0	576	$600	$1.04	44d	1	0.77mi
1829 Hale Ave Fort Wayne, IN	1.0	1.0	576	$600	$1.04	22d	1	0.77mi
1207 Nuttman Ave Fort Wayne, IN	2.0	1.0	650	$850	$1.31	44d	1	0.81mi
3019 Broadway Unit 2 Fort Wayne, IN	1.0	1.0	750	$925	$1.23	44d	1	0.87mi
1360 Huestis Ave Fort Wayne, IN	3.0	1.0	1056	$1,080	$1.02	14d	1	0.92mi
1322 Fay Dr Fort Wayne, IN	2.0	1.0	792	$950	$1.20	22d	1	0.94mi
1320 Fay Dr Fort Wayne, IN	2.0	1.0	792	$800	$1.01	14d	1	0.95mi
1315 Huestis Ave Unit 2 Fort Wayne, IN	1.0	1.0	650	$800	$1.23	22d	1	0.97mi
927 Nuttman Ave Fort Wayne, IN	2.0	1.0	650	$850	$1.31	44d	1	1.01mi
2133 Riedmiller Ave Fort Wayne, IN	3.0	1.0	1056	$1,050	$0.99	22d	1	1.01mi
1235 Huestis Ave Unit B Fort Wayne, IN	1.0	1.0	850	$850	$1.00	22d	1	1.01mi
1235 Huestis Ave Unit A Fort Wayne, IN	2.0	1.0	1040	$950	$0.91	44d	1	1.01mi
907 Lincoln Ave Fort Wayne, IN	2.0	1.0	1060	$850	$0.80	14d	1	1.12mi
3718 S Wayne Ave Fort Wayne, IN	1.0	1.0	568	$795	$1.40	44d	1	1.20mi
824 Huestis Ave Apt C Fort Wayne, IN	2.0	1.0	744	$825	$1.11	22d	1	1.21mi
4737 Pinecrest Dr Fort Wayne, IN	3.0	1.0	768	$1,195	$1.56	14d	1	1.23mi
810 Huestis Ave Apt 1 Fort Wayne, IN	2.0	1.0	749	$925	$1.23	22d	1	1.23mi
1421 Swinney Ave Unit 2 Fort Wayne, IN	1.0	1.0	950	$850	$0.89	44d	1	1.27mi
2411 Fox Ave Unit 2411-A Fort Wayne, IN	1.0	1.0	620	$799	$1.29	22d	1	1.28mi
2136 Miner St #2 Fort Wayne, IN	2.0	1.0	850	$1,200	$1.41	44d	1	1.29mi
1332 Swinney Ave Fort Wayne, IN	2.0	1.0	1035	$1,300	$1.26	44d	1	1.32mi
418 W Rudisill Blvd Unit 2 Fort Wayne, IN	2.0	1.0	768	$975	$1.27	22d	1	1.43mi
1829 Broadway Unit 1831 Fort Wayne, IN	1.0	1.0	600	$950	$1.58	44d	1	1.44mi
2445 Fairfield Ave Fort Wayne, IN	2.0	1.5	950	$1,150	$1.21	14d	3	1.44mi
2301 Fairfield Ave Unit 406 Fort Wayne, IN	1.0	1.0	552	$750	$1.36	44d	1	1.49mi

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 77% 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: $11,683
• − Mortgage interest: −$6,162
• − Property taxes: −$1,650
• − Insurance: −$1,348
• − Repairs & maintenance: −$935
• − Management: −$935
• − Depreciation: −$3,200
• Taxable loss: −$2,546
• Est. tax savings @ 24.0%: +$611
• After-tax cash flow: $-79/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): 8,589
• Household income: $52,253
• Rent vs Own: 37.6% rent · 62.4% own
• Severe rent burden: 367.0

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 17% Two or more races 8% Black 6%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 2% Romanian 2% Lithuanian 2%
• Foreign-born: 7% · Canada, Jamaica, Philippines
• Languages at home: 89% English-only · Spanish 10% French/Haitian/Cajun 1% Other Asian/Pacific 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: ▼ -201.22%
• Current HPI: 273.9779
• 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