3321 Rivulet Run · Huntertown, IN 46818

$299,900

3 bd · 2.5 ba · 1,664 sqft · SingleFamily public records · 1 Days on market

Built 2002 8,712 sqft lot Est $291k · at est.

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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 +11.8/30.0
• ARV discount +6.2/15.0
• Schools +4.9/10.0
• Rent growth +4.4/5.0
• DSCR +3.5/10.0
• Livability +3.5/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Located in the Lakes of Carroll Creek neighborhood, this 5-bedroom, 2.5-bath home offers a comfortable layout with thoughtful updates throughout and convenient access to nearby schools, shopping, and work commutes. Built in 2002, the home features a main-level living room that serves as a central gathering space, along with five bedrooms that provide flexibility for a variety of living needs. The primary suite includes its own private bath and double closets, offering both functionality and everyday convenience. A number of key updates have already been completed, including a new roof in 2021 and HVAC system in 2022. In 2026, the home saw extensive improvements such as new flooring, fresh p

Key facts

• 8,712 sq ft lot
• 2 garage spots
• Pool

Property features AI

Exterior

• Parking: Attached garage with two spaces; Garage door opener; Off-street parking
• Security: Smoke detectors; Carbon monoxide detectors
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; Two stories
• Construction: Brick and vinyl siding; Slab foundation
• Exterior features: Covered patio; Porch; Landscaped, level lot

Interior

• Kitchen: Disposal
• Bathrooms: Two full bathrooms; One half bathroom; One main-level bathroom
• Heating & cooling: Central air; Ceiling fans; Natural gas forced-air heating
• Interior features: Walk-in closets; Ceiling fans; Tray ceilings; Disposal
• Laundry & utility: Washer hookup; Electric dryer hookup; Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $300k.

Deal economics

• At list price, monthly cash flow is $-84 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $285k (5.0% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $224k (25.4% below list).
• Recommended offer: $224k (25.4% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 4.1% in Huntertown — 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 70/100 on livability (#159 in IN) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Northwest Allen County Schools (rural): math 51% / reading 58% proficiency, ranked #25 of 301 in IN (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 11% free/reduced lunch — higher-income household profile.
• Zoned schools: Eel River Elementary School (math 56% / reading 41%, grade D, #304 of 994 statewide, top 31%, 412 students, 29% FRL); Carroll Middle School (math 39% / reading 55%, grade D+, #65 of 330 statewide, top 21%, 994 students, 29% FRL); Carroll High School (math 59% / reading 86%, grade B+, #10 of 369 statewide, top 3%, 2,554 students, 21% FRL) — zoned schools average 26% FRL vs 11% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+7.6%/yr); 327 active listings in the ZIP; 4 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; solid renter incomes; 1,861 units permitted in Allen County in 2024 (576 in 5+ unit buildings).
• This rent runs 33% of the median local income ($81k/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 $2k of loan paydown is wiped out by about $9k 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.

Recommended offer $223,763 (25.4% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 0.75% ✗
• Cap rate: 5.96%
• Cash-on-cash: -1.21%
• DSCR: 0.95
• GRM: 11.2

CMA / ARV

• ARV (on-the-fly): $291,200
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3514 Astoria Way	0.16mi	3/2.5	1,711 (+3%)	2mo	$309,000	$181	86
3206 Rivulet Run	0.12mi	4/2.5 (+1)	1,721 (+3%)	1mo	$319,000	$185	83
3510 Flowing Brook Dr	0.23mi	3/2.0	1,615 (-3%)	3mo	$265,000	$164	80
3632 Astoria Way	0.26mi	4/2.5 (+1)	1,634 (-2%)	3mo	$279,000	$171	77
3716 Winding River Ct	0.36mi	3/2.0	1,506 (-10%)	1mo	$275,000	$183	65
3120 Limerick Pl	0.56mi	3/2.5	1,600 (-4%)	3mo	$279,499	$175	64
12963 Rey Cv	0.39mi	4/2.0 (+1)	1,771 (+6%)	2mo	$338,050	$191	63
12960 Rey Cv	0.40mi	4/2.0 (+1)	1,771 (+6%)	4mo	$329,900	$186	61
2937 Ford Dr	0.46mi	4/2.5 (+1)	1,875 (+13%)	2mo	$298,000	$159	51
2607 Creeping Phlox Cv	0.70mi	3/2.5	1,839 (+10%)	4mo	$284,900	$155	47
11213 Robinair Dr	0.71mi	3/2.5	1,900 (+14%)	1mo	$285,000	$150	42
11426 Maywin Dr	0.68mi	4/2.5 (+1)	1,879 (+13%)	3mo	$279,900	$149	39

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 · 7.64% rent growth · sell at horizon

5-year hold

• IRR: -13.8%
• Equity multiple: 0.49×
• Total profit: $-43,137
• Equity at exit: $44,716

10-year hold

• IRR: 0.6%
• Equity multiple: 1.05×
• Total profit: $4,498
• Equity at exit: $25,930

Cash invested: $83,972 (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 46818

• Rents YoY: 7.6%
• Active inventory: 327
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $2,238 medium
• Mortgage (P&I): −$1,573
• Tax from tax record: −$154 /mo · $1,853/yr
• Insurance: −$125
• HOA: −$0
• Vacancy / Maint / Mgmt: −$470
• Net cashflow: $-84

Break-even live

Break-even rent $2,344

Max offer price $284,996

Occupancy floor 99%

Sensitivity live

Price	-10% $85	-5% $1	+0% $-84	+5% $-169	+10% $-254
Rent	-10% $-261	-5% $-173	+0% $-84	+5% $4	+10% $92
Rate	-1.0pp $67	-0.5pp $-8	base $-84	+0.5pp $-162	+1.0pp $-241

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: $74,975
• Closing costs: $8,997
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3115 Carroll Rd Fort Wayne, IN	3.0	2.0	1244	$2,300	$1.85	14d	1	0.48mi
4722 Whittlebury Dr Fort Wayne, IN	4.0	2.0	1650	$1,999	$1.21	14d	1	0.94mi
5045 Portney Pl Fort Wayne, IN	4.0	2.5	2226	$2,300	$1.03	44d	1	1.10mi
1527 Flint Lock Ln Fort Wayne, IN	3.0	2.5	1570	$1,950	$1.24	44d	1	1.28mi

Listing history 3 events

1. 2026-05-01
   status Pending
2. 2026-04-30
   listed $299,900 Active
3. 2026-04-24
   historical $299,900

ⓘ 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: $1,853 · $154/mo
• Projected year-2 tax: $2,201 · $183/mo
• Expected delta: +$348/yr (+$29/mo · 18.8%)

ⓘ 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 ≥99°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $26,852
• − Mortgage interest: −$16,799
• − Property taxes: −$1,853
• − Insurance: −$1,500
• − Repairs & maintenance: −$2,148
• − Management: −$2,148
• − Depreciation: −$8,724
• Taxable loss: −$6,321
• Est. tax savings @ 24.0%: +$1,517
• After-tax cash flow: $505/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: Northwest Allen County Schools
• NCES district ID: 1808250
• Math proficiency: 51% ▼ -6.00%
• Reading proficiency: 58% ▼ -5.00%
• Median HH income: $78,952
• Composite: 49.26/100
• National rank: #2027
• State rank: #25 of 301 in IN

Livability — Huntertown

• Score: 70/100
• State rank: #159
• US rank: #7771

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment A+ Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Huntertown, IN
• County: Allen County · 326,813 people
• 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

3 events — show timeline

• 2026-05-01 Pending — IRMLS
• 2026-04-30 Listed $299,900 IRMLS
• 2026-04-24 Coming Soon $299,900 IRMLS

Property tax history

+3.2%/yr

Latest (2024): $1,853 · +16.3% YoY. Source: county tax records.