1109 Glenwood Ave · Fort Wayne, IN 46805

$165,900

3 bd · 2.0 ba · 1,342 sqft · SingleFamily public records · 3 Days on market

Built 1953 9,514 sqft lot Est $207k · 20% under ↓ 38% since listing

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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 +16.1/30.0
• ARV discount +15.0/15.0
• DSCR +5.0/10.0
• Livability +4.2/5.0
• 1% rule +3.7/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Charming 3-Bedroom, 2-Bath Home With Tons of Potential This cozy 3 bed, 2 bath property offers a fantastic opportunity for anyone looking to add their personal touch. The home needs some work, but with the right updates it can easily become a beautiful, inviting space. Conveniently located close to local amenities, it’s priced to reflect the improvements needed and is perfect for buyers seeking value and vision. Home is being sold as-is. The seller is unable to make repairs, which is why the property is priced accordingly.

Key facts

• 9,514 sq ft lot
• Garage
• Built 1953

Property features AI

Exterior

• Parking: Attached garage (1 car)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; 1 story
• Construction: Brick construction; Built on slab foundation
• Exterior features: Level lot; Concrete road access; Publicly maintained road; Lot dimensions approximately 71 x 134

Interior

• Kitchen: Electric oven; Refrigerator
• Bathrooms: 2 full bathrooms
• Heating & cooling: Natural gas heating; Forced air heating; Cooling system (unspecified type)
• Interior features: Refrigerator; Electric oven; Gas water heater; Water heater; 7 total rooms

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $166k.

Deal economics

• At list price, monthly cash flow is $84 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (12.7% below list).
• Recommended offer: $145k (12.7% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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: Forest Park Elementary School (math 21% / reading 22%, grade F, #803 of 994 statewide, top 81%, 601 students, 75% FRL); Lakeside Middle School (math 8% / reading 17%, grade F, #310 of 330 statewide, top 94%, 502 students, 78% FRL); North Side High School (math 19% / reading 51%, grade F, #266 of 369 statewide, top 73%, 1,474 students, 66% FRL).
• Market conditions: Rents flat; 113 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 1,861 units permitted in Allen County in 2024 (576 in 5+ unit buildings).
• This rent runs 33% of the median local income ($52k/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 $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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $144,816 (12.7% below list)

Questions for the listing agent

1. Built in 1953 — 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: 0.87% ✗
• Cap rate: 6.90%
• Cash-on-cash: 2.16%
• DSCR: 1.10
• GRM: 9.5

CMA / ARV

• ARV (on-the-fly): $206,668
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1139 Clara Ave	0.26mi	3/2.0	1,383 (+3%)	2mo	$230,200	$166	81
1242 Somerset Ln	0.30mi	3/1.5	1,363 (+2%)	1mo	$210,000	$154	81
813 Kenwood Ave	0.26mi	3/2.0	1,284 (-4%)	2mo	$195,000	$152	79
1326 Dodge Ave	0.37mi	3/1.0	1,352 (+1%)	1mo	$210,000	$155	77
3334 River Forest Dr	0.39mi	3/1.5	1,363 (+2%)	1mo	$245,500	$180	76
916 Northwood Blvd	0.57mi	3/1.0	1,326 (-1%)	0mo	$160,000	$121	67
601 Charlotte Ave	0.45mi	3/1.0	1,411 (+5%)	1mo	$199,000	$141	65
2603 Crescent Ave	0.30mi	3/1.0	1,144 (-15%)	1mo	$134,900	$118	56
1845 Alabama Ave	0.71mi	3/1.0	1,372 (+2%)	3mo	$210,000	$153	56
2316 Kensington Blvd	0.69mi	3/1.0	1,406 (+5%)	3mo	$205,000	$146	54
2007 California Ave	0.63mi	3/2.0	1,512 (+13%)	2mo	$234,900	$155	48
2022 Lawndale Dr	0.69mi	3/1.0	1,501 (+12%)	1mo	$232,000	$155	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 · 0.75% rent growth · sell at horizon

5-year hold

• IRR: -15.3%
• Equity multiple: 0.47×
• Total profit: $-24,791
• Equity at exit: $24,736

10-year hold

• IRR: -10.8%
• Equity multiple: 0.41×
• Total profit: $-27,428
• Equity at exit: $14,344

Cash invested: $46,452 (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 46805

• Rents YoY: 0.8%
• Active inventory: 113
• Price-to-rent: 9.5×

Monthly cashflow live

• Estimated rent: $1,448 high
• Mortgage (P&I): −$870
• Tax from tax record: −$121 /mo · $1,455/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $84

Break-even live

Break-even rent $1,342

Max offer price $165,900

Occupancy floor 89%

Sensitivity live

Price	-10% $178	-5% $131	+0% $84	+5% $37	+10% $-10
Rent	-10% $-31	-5% $26	+0% $84	+5% $141	+10% $198
Rate	-1.0pp $167	-0.5pp $126	base $84	+0.5pp $41	+1.0pp $-3

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: $41,475
• Closing costs: $4,977
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1311 Ferguson Ave Fort Wayne, IN	2.0	2.0	1400	$1,700	$1.21	15d	1	0.22mi
607 Curdes Ave Fort Wayne, IN	3.0	1.5	1072	$1,450	$1.35	23d	1	0.41mi
1911 Hazelwood Ave Fort Wayne, IN	1.0–3.0	1.0–2.5	910	$1,375	$1.51	23d	3	0.62mi
1035 Ridgewood Dr Fort Wayne, IN	1.0–3.0	1.0–1.5	906	$1,450	$1.60	15d	33	0.67mi
1838 Kentucky Ave Fort Wayne, IN	2.0	1.0	884	$975	$1.10	45d	1	0.68mi
2508 Woodward Ave Fort Wayne, IN	3.0	1.0	1300	$1,700	$1.31	15d	1	0.73mi
1726 Tecumseh St Fort Wayne, IN	3.0	1.0	1280	$1,350	$1.05	15d	1	0.77mi
2403 N Clinton St Fort Wayne, IN	3.0	2.0	1666	$1,750	$1.05	45d	1	0.85mi
1516 Bayer Ave Fort Wayne, IN	4.0	2.0	1280	$1,299	$1.01	15d	1	0.91mi
2315 Terrace Rd Fort Wayne, IN	3.0	1.0	1466	$1,600	$1.09	45d	1	0.92mi
1206 Columbia Ave Unit 2 Fort Wayne, IN	2.0	2.0	1118	$995	$0.89	45d	1	1.18mi
807 Edgewater Ave Fort Wayne, IN	3.0	1.0	1075	$1,450	$1.35	23d	1	1.46mi
805 Edgewater Ave Fort Wayne, IN	3.0	1.0	1075	$1,550	$1.44	15d	1	1.46mi
101 Three Rivers N Fort Wayne, IN	2.0	1.0	760	$2,102	$2.76	23d	11	1.46mi
2718 Sherman Blvd Fort Wayne, IN	2.0	1.0	900	$925	$1.03	23d	1	1.50mi

Listing history 3 events

1. 2026-05-12
   status Pending
2. 2026-05-09
   price $165,900
3. 2026-05-06
   listed $265,900 Active

ⓘ 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: $1,455 · $121/mo
• Projected year-2 tax: $1,455 · $121/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 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,378
• − Mortgage interest: −$9,293
• − Property taxes: −$1,455
• − Insurance: −$830
• − Repairs & maintenance: −$1,390
• − Management: −$1,390
• − Depreciation: −$4,826
• Taxable loss: −$1,806
• Est. tax savings @ 24.0%: +$433
• After-tax cash flow: $1,438/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): 21,437
• Household income: $52,154
• Rent vs Own: 42.6% rent · 57.4% own
• Severe rent burden: 904.0

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 (72%)
• Race & ethnicity: White 72% Black 9% Two or more races 8% Hispanic / Latino 7% Asian 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 3% Slovak 3% Italian 2%
• Foreign-born: 6% · Philippines, Canada
• Languages at home: 91% English-only · Other Asian/Pacific 3% Spanish 3%

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: ▼ -356.64%
• Current HPI: 286.2643
• Rent YoY: ▲ 0.75%
• 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

-37.6% since first listed

3 events — show timeline

• 2026-05-12 Pending — IRMLS
• 2026-05-09 Price Changed $165,900 IRMLS
• 2026-05-06 Listed $265,900 IRMLS

Property tax history

+6.3%/yr

Latest (2024): $1,455 · +25.6% YoY. Source: county tax records.