8316 Lamplighter Ct · Fort Wayne, IN 46835

$209,900

2 bd · 2.0 ba · 1,077 sqft · SingleFamily public records · 1 Days on market

Built 1985 4,356 sqft lot Est $215k · at est. $45/mo HOA · 3% of rent

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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 +12.8/30.0
• ARV discount +8.6/15.0
• Rent growth +4.7/5.0
• Livability +4.2/5.0
• DSCR +3.8/10.0
• 1% rule +3.3/10.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Move right into this Beautiful, totally updated villa featuring: 2 Bedrooms, 2 Full Baths, Spacious Great Room, Large Kitchen, 1 Car attached garage, in the sought-after Arlington Park Subdivision! Maintenance Dues include: Lawn Care, Mowing, and Snow Removal. Arlington Park has so much to offer with their 9 hole golf course, three pools, tennis courts, playgrounds, ponds, clubhouse with activities, and 14 miles of sidewalks.

Key facts

• 9 hole golf course
• Tennis courts
• Large kitchen

Tags

• GREAT ROOM
• LARGE KITCHEN
• ARLINGTON PARK SUBDIVISION
• 9 HOLE GOLF COURSE
• THREE POOLS
• TENNIS COURTS

Property features AI

Finance

• HOA & community: Homeowners association with monthly fee of $45; Community amenities: golf, playground, pool

Exterior

• Parking: Attached garage with garage door opener; Concrete driveway and off-street parking; 1 garage space
• Utilities: Public water; Public sewer
• Home design: Condominium (Condo/Villa); Single-story
• Construction: Cedar, stone, and vinyl siding exterior; Shingle roof; Built with no basement
• Exterior features: Deck; Patio; Level, landscaped lot

Interior

• Kitchen: Disposal; Dishwasher; Microwave; Refrigerator; Electric range
• Bedrooms: Master bedroom on main level
• Flooring: Carpet; Laminate; Tile
• Bathrooms: 2 full bathrooms (both on the main level)
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Vaulted ceilings; Eat-in kitchen; Kitchen island; Laminate countertops; Master bedroom on main level; Gas-log fireplace in the living room
• Laundry & utility: Main level laundry; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath single-family listed at $210k.

Deal economics

• At list price, monthly cash flow is $-20 ($-240/yr) — negative.
• To cash-flow at today's rent, offer at most $206k (1.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $173k (17.5% below list).
• Recommended offer: $173k (17.5% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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+.
• 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); 181 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $6k 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 $173,255 (17.5% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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. 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?
6. 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.
7. 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.
8. 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: 0.83% ✗
• Cap rate: 6.18%
• Cash-on-cash: -0.41%
• DSCR: 0.98
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $215,400
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4403 W Shenandoah Cir	0.06mi	2/1.0	1,126 (+4%)	21mo	$225,000	$200	68
8325 Santa Fe Trl	0.75mi	3/1.5 (+1)	1,128 (+5%)	8mo	$190,700	$169	44
3603 Iowa Ct	0.72mi	3/1.0 (+1)	1,020 (-5%)	12mo	$209,000	$205	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -11.7%
• Equity multiple: 0.56×
• Total profit: $-26,143
• Equity at exit: $31,297

10-year hold

• IRR: 3.3%
• Equity multiple: 1.29×
• Total profit: $17,220
• Equity at exit: $18,148

Cash invested: $58,772 (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: 181
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,733 high
• Mortgage (P&I): −$1,101
• Tax from tax record: −$156 /mo · $1,866/yr
• Insurance: −$87
• HOA: −$45
• Vacancy / Maint / Mgmt: −$364
• Net cashflow: $-20

Break-even live

Break-even rent $1,758

Max offer price $206,367

Occupancy floor 96%

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: $52,475
• Closing costs: $6,297
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3215 W Bartlett Dr Fort Wayne, IN	2.0	2.0	1464	$2,380	$1.63	43d	1	0.93mi
3212 W Bartlett Dr Fort Wayne, IN	2.0	2.0	1289	$2,250	$1.75	43d	1	0.94mi
3213 W Bartlett Dr Fort Wayne, IN	2.0	2.0	1445	$2,250	$1.56	43d	1	0.94mi
10001 Pin Oak Cir Fort Wayne, IN	1.0–3.0	1.0–2.0	1190	$1,458	$1.22	13d	13	0.95mi
9114 Parent Rd New Haven, IN	2.0	1.0	1000	$1,550	$1.55	13d	10	1.38mi

HOA detail

• Monthly dues: $45 · $540/yr
• Likely covers: landscapingsnow removalpool

Listing history 2 events

1. 2026-06-07
   remarks 432-char remark
2. 2026-06-07
   listed $209,900 Pending 1 DOM

ⓘ 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: $1,866 · $156/mo
• Projected year-2 tax: $1,866 · $156/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: $20,791
• − Mortgage interest: −$11,758
• − Property taxes: −$1,866
• − Insurance: −$1,050
• − Repairs & maintenance: −$1,663
• − Management: −$1,663
• − HOA: −$540
• − Depreciation: −$6,106
• Taxable loss: −$3,855
• Est. tax savings @ 24.0%: +$925
• After-tax cash flow: $685/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

2 events — show timeline

• 2026-06-06 Pending — IRMLS
• 2026-06-04 Listed $209,900 IRMLS

Property tax history

+7.9%/yr

Latest (2024): $1,866 · +3.9% YoY. Source: county tax records.