Lancia's Chesapeake I Plan · Huntertown, IN 46818

$247,100

4 bd · 2.5 ba · 1,972 sqft · SingleFamily · 300 Days on market

Poor condition $45/mo HOA · 2% of rent

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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).

• ARV discount +7.5/15.0
• Cash flow +6.2/30.0
• Schools +4.9/10.0
• Rent growth +4.4/5.0
• Livability +3.5/5.0
• 1% rule +1.6/10.0
• Condition / age +1.0/5.0
• DSCR +0.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS IS A SAMPLE PLAN - THIS IS NOT A HOME FOR SALE. Lancia's Chesapeake I is a lot of home for your money with 4 Bedrooms, 2.5 Baths, Office, Laundry upstairs and plenty of storage! Lancia Homes offers many different floor plan options to choose from, visit our website or call our office to see all current floor plans. * Base price does not include land

Key facts

• 2 parking spots
• Listed 300 days

🏗️ New construction. The $247,100 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $365,299.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $247k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $-658 ($-8k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $242k (2.1% below list).
• Recommended offer: $217k (12.0% below list) — sets the bar for market timing.

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.
• Market conditions: Rents rising fast (+7.6%/yr); 327 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); solid renter incomes; 1,861 units permitted in Allen County in 2024 (576 in 5+ unit buildings).
• This rent runs 36% 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 $3k of loan paydown is wiped out by about $11k 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

• It's been on market 300 days — a 12% lower offer ($217k) is reasonable based on typical stale-listing flexibility.

Recommended offer $217,448 (12.0% 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. It's been on market 300 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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.
9. 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.
10. 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: 0.66% ✗
• Cap rate: 4.13%
• Cash-on-cash: -7.72%
• DSCR: 0.66
• GRM: 12.6

CMA / ARV

• ARV (median comp): $365,299
• List price: $247,100
• Delta: -32.36%
• 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
5207 Mountain Sky Cv	0.08mi	4/2.5	1,900 (-4%)	2mo	$338,000	$178	89
5029 Whittlebury Dr	0.28mi	4/2.5	1,938 (-2%)	1mo	$352,900	$182	83
5116 Mountain Sky Cv	0.08mi	4/2.5	1,818 (-8%)	0mo	$374,800	$206	83
4874 Whittlebury Dr	0.38mi	4/2.5	1,994 (+1%)	1mo	$375,000	$188	80
12204 Bozzio Rd	0.30mi	4/2.5	2,155 (+9%)	0mo	$382,000	$177	70
12283 Hideout Pass	0.26mi	4/2.0	1,771 (-10%)	1mo	$295,115	$167	68
4819 Windrow Way	0.40mi	4/2.5	2,244 (+14%)	1mo	$379,900	$169	58
12041 Swather Ct	0.44mi	4/2.5	2,229 (+13%)	2mo	$375,000	$168	56
4684 Hammock Dr	0.33mi	3/2.0 (-1)	1,724 (-13%)	1mo	$327,000	$190	55
5091 Sickle Cv	0.37mi	3/2.0 (-1)	1,703 (-14%)	0mo	$342,200	$201	53
5591 Broad Fields Cv	0.51mi	3/2.0 (-1)	1,775 (-10%)	0mo	$386,300	$218	52
4725 Silverstone Psge	0.44mi	3/2.0 (-1)	1,716 (-13%)	2mo	$379,900	$221	49

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: -24.7%
• Equity multiple: 0.13×
• Total profit: $-89,218
• Equity at exit: $54,467

10-year hold

• IRR: -10.5%
• Equity multiple: 0.24×
• Total profit: $-77,989
• Equity at exit: $31,584

Cash invested: $102,284 (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: 8.5×

Monthly cashflow live

• Estimated rent: $2,420 medium
• Mortgage (P&I): −$1,916
• Tax est. 1.5%: −$457 /mo · $5,479/yr
• Insurance: −$152
• HOA: −$45
• Vacancy / Maint / Mgmt: −$508
• Net cashflow: $-658

Break-even live

Break-even rent $3,253

Max offer price $270,076

Occupancy floor —

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: $91,325
• Closing costs: $10,959
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5045 Portney Pl Fort Wayne, IN	4.0	2.5	2226	$2,300	$1.03	43d	1	0.12mi
4722 Whittlebury Dr Fort Wayne, IN	4.0	2.0	1650	$1,999	$1.21	13d	1	0.30mi
3115 Carroll Rd Fort Wayne, IN	3.0	2.0	1244	$2,300	$1.85	13d	1	1.39mi

HOA detail

• Monthly dues: $45 · $540/yr

Listing history 17 events

1. 2026-06-18
   days on market $247,100 Active 300 DOM
2. 2026-06-17
   days on market $247,100 Active 299 DOM
3. 2026-06-16
   days on market $247,100 Active 298 DOM
4. 2026-06-15
   days on market $247,100 Active 297 DOM
5. 2026-06-14
   days on market $247,100 Active 295 DOM
6. 2026-06-13
   days on market $247,100 Active 294 DOM
7. 2026-06-10
   days on market $247,100 Active 292 DOM
8. 2026-06-09
   days on market $247,100 Active 291 DOM
9. 2026-06-08
   days on market $247,100 Active 290 DOM
10. 2026-06-07
    days on market $247,100 Active 289 DOM
11. 2026-06-03
    days on market $247,100 Active 285 DOM
12. 2026-06-02
    pricedays on market $247,100 Active 284 DOM
13. 2026-06-01
    days on market $242,400 Active 283 DOM
14. 2026-05-31
    days on market $242,400 Active 282 DOM
15. 2026-05-30
    days on market $242,400 Active 281 DOM
16. 2026-02-09
    price $242,400 356-char remark

    Show marketing remark (356 chars)

    THIS IS A SAMPLE PLAN - THIS IS NOT A HOME FOR SALE. Lancia's Chesapeake I is a lot of home for your money with 4 Bedrooms, 2.5 Baths, Office, Laundry upstairs and plenty of storage! Lancia Homes offers many different floor plan options to choose from, visit our website or call our office to see all current floor plans. * Base price does not include land

17. 2025-08-22
    listed $240,600 Active 356-char remark

    Show marketing remark (356 chars)

    THIS IS A SAMPLE PLAN - THIS IS NOT A HOME FOR SALE. Lancia's Chesapeake I is a lot of home for your money with 4 Bedrooms, 2.5 Baths, Office, Laundry upstairs and plenty of storage! Lancia Homes offers many different floor plan options to choose from, visit our website or call our office to see all current floor plans. * Base price does not include land

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $29,034
• − Mortgage interest: −$20,462
• − Property taxes: −$5,479
• − Insurance: −$1,826
• − Repairs & maintenance: −$2,323
• − Management: −$2,323
• − HOA: −$540
• − Depreciation: −$10,627
• Taxable loss: −$14,546
• Est. tax savings @ 24.0%: +$3,491
• After-tax cash flow: $-4,406/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.

Condition & rehab AI · 1 photo

Poor 20/100 Extensive rehab

This property requires extensive repairs and updates to bring it up to a livable condition. Significant investment is needed in the roof, exterior, interior, bathrooms, kitchen, HVAC, and landscaping to make it move-in ready.

Repairs flagged

• Major roof — No visible roof in the satellite image.
• Major exterior — No visible exterior in the satellite image.
• Major flooring — No visible interior or exterior flooring in the satellite image.
• Major interior walls/paint — No visible interior walls or paint in the satellite image.
• Major bathrooms — No visible bathrooms in the satellite image.
• Major kitchen — No visible kitchen in the satellite image.
• Major systems — No visible HVAC or mechanical systems in the satellite image.
• Major windows — No visible windows in the satellite image.
• Major foundation/structure — No visible foundation or structure in the satellite image.
• Major landscaping/curb appeal — No visible landscaping or curb appeal in the satellite image.

Value-add opportunities

• Both roof replacement — A new roof would significantly improve the home's appearance and functionality.
• Both exterior painting/staining — A fresh coat of paint or stain would enhance curb appeal and protect the exterior.
• Both interior painting — A fresh coat of paint would improve the home's appearance and protect the walls.
• Both bathroom updates — Modernizing bathrooms would improve functionality and appeal.
• Both kitchen updates — Upgrading the kitchen would improve functionality and appeal.
• Both HVAC replacement — A new HVAC system would improve comfort and energy efficiency.
• Both landscaping — Landscaping would improve curb appeal and add value to the property.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · No visible roof in the satellite image.	Major	$15,000–50,000
exterior · No visible exterior in the satellite image.	Major	$15,000–50,000
flooring · No visible interior or exterior flooring in the satellite image.	Major	$15,000–50,000
interior walls/paint · No visible interior walls or paint in the satellite image.	Major	$15,000–50,000
bathrooms · No visible bathrooms in the satellite image.	Major	$15,000–50,000
kitchen · No visible kitchen in the satellite image.	Major	$15,000–50,000
systems · No visible HVAC or mechanical systems in the satellite image.	Major	$15,000–50,000
windows · No visible windows in the satellite image.	Major	$15,000–50,000
foundation/structure · No visible foundation or structure in the satellite image.	Major	$15,000–50,000
landscaping/curb appeal · No visible landscaping or curb appeal in the satellite image.	Major	$15,000–50,000
Total estimated repair cost · 10 items		$150,000–500,000

Value-add ROI direction

• Both roof replacement — A new roof would significantly improve the home's appearance and functionality. ↑
• Both exterior painting/staining — A fresh coat of paint or stain would enhance curb appeal and protect the exterior. ↑
• Both interior painting — A fresh coat of paint would improve the home's appearance and protect the walls. ↑
• Both bathroom updates — Modernizing bathrooms would improve functionality and appeal. ↑
• Both kitchen updates — Upgrading the kitchen would improve functionality and appeal. ↑
• Both HVAC replacement — A new HVAC system would improve comfort and energy efficiency. ↑
• Both landscaping — Landscaping would improve curb appeal and add value to the property. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• 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

+0.7% since first listed

2 events — show timeline

• 2026-02-09 Price Changed $242,400 Zillow
• 2025-08-22 Listed $240,600 Zillow