1141 Kinnaird Ave · Fort Wayne, IN 46807

$175,900

4 bd · 2.0 ba · 1,668 sqft · MultiFamily public records · 10 Days on market

Built 1910 6,098 sqft lot Est $135k · 30% over

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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 +19.8/30.0
• DSCR +6.3/10.0
• 1% rule +5.1/10.0
• Rent growth +4.6/5.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Great investment opportunity in the '07 Upstairs unit has a long term tenant paying $875 plus utilities. Downstairs unit is vacant 1 bed 1 bath listed for $750 Lower unit has access to the basement There is a very nice shared covered front porch. New vinyl siding and some newer windows. Both units have good sized rooms.

Key facts

• Newer vinyl siding
• New back deck
• Newer windows

Tags

• INVESTMENT OPPORTUNITY
• SHARED COVERED FRONT PORCH
• NEW BACK DECK
• NEW ROOF
• NEWER VINYL SIDING
• NEWER WINDOWS

Property features AI

Finance

• Other: Pets allowed with breed restrictions
• Financial info: Annual property tax amount not included per instructions

Exterior

• Parking: Garage; 2 open parking spaces; Gravel, off-street and on-street parking available
• Utilities: Public water; Public sewer
• Home design: Duplex (residential income); 2 stories; Entry level information not provided
• Construction: Vinyl siding and wood siding; Block foundation; Asphalt shingle roof; Built year not provided
• Exterior features: Covered patio/porch; Level lot

Interior

• Kitchen: Microwave, Range, Refrigerator
• Flooring: Laminate
• Bathrooms: 2 full bathrooms; 3 main-level bathrooms
• Heating & cooling: Baseboard heating; Electric heating; Forced air; Natural gas
• Interior features: Microwave, Range, Refrigerator; Laminate flooring; Unfinished basement
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath multifamily listed at $176k.

Deal economics

• At list price, monthly cash flow is $210 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $176k).
• Cap rate 7.7% 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: South Wayne Elementary School (math 17% / reading 17%, grade F, #837 of 994 statewide, top 86%, 362 students, 88% FRL); Portage Middle School (math 8% / reading 18%, grade F, #304 of 330 statewide, top 94%, 436 students, 79% FRL); South Side High School (math 12% / reading 39%, grade F, #322 of 369 statewide, top 87%, 1,423 students, 73% FRL) — zoned schools average 80% FRL vs 60% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+8.2%/yr); 94 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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).
• This rent runs 36% of the median local income ($59k/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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $49k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 4y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $140k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $175,900

Questions for the listing agent

1. Built in 1910 — 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. 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?
5. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.01% ✓
• Cap rate: 7.73%
• Cash-on-cash: 5.12%
• DSCR: 1.23
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $135,108
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1121 W Packard Ave	0.08mi	4/2.0	1,764 (+6%)	6mo	$180,000	$102	82
930 Home Ave	0.25mi	4/2.0	1,494 (-10%)	7mo	$117,000	$78	65
1001 Lincoln Ave	0.33mi	3/3.0 (-1)	1,848 (+11%)	6mo	$175,000	$95	52
731 Cottage Ave	0.30mi	3/2.0 (-1)	1,830 (+10%)	19mo	$140,000	$77	49
1235 Huestis Ave	0.44mi	5/2.0 (+1)	1,881 (+13%)	5mo	$153,000	$81	49
2512 S Wayne Ave	0.50mi	3/2.0 (-1)	1,550 (-7%)	20mo	$120,000	$77	43

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: -2.9%
• Equity multiple: 0.88×
• Total profit: $-5,666
• Equity at exit: $26,227

10-year hold

• IRR: 11.6%
• Equity multiple: 2.12×
• Total profit: $55,309
• Equity at exit: $15,209

Cash invested: $49,252 (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 46807

• Rents YoY: 8.2%
• Active inventory: 94
• Price-to-rent: 16.4×

Monthly cashflow live

• Estimated rent: $1,785 high
• Mortgage (P&I): −$922
• Tax from tax record: −$204 /mo · $2,451/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$375
• Net cashflow: $210

Break-even live

Break-even rent $1,519

Max offer price $175,900

Occupancy floor 83%

Sensitivity live

Price	-10% $310	-5% $260	+0% $210	+5% $160	+10% $111
Rent	-10% $69	-5% $140	+0% $210	+5% $281	+10% $351
Rate	-1.0pp $299	-0.5pp $255	base $210	+0.5pp $165	+1.0pp $118

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$1,784
Total (2 units)			$1,785

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: $43,975
• Closing costs: $5,277
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
724 Kinnaird Ave Fort Wayne, IN	3.0	1.5	1880	$1,450	$0.77	45d	1	0.30mi
1353 Huestis Ave Fort Wayne, IN	4.0	1.0	1328	$1,300	$0.98	15d	1	0.45mi
1360 Huestis Ave Fort Wayne, IN	3.0	1.0	1056	$1,080	$1.02	15d	1	0.47mi
2431 Fox Ave Fort Wayne, IN	3.0	1.5	1522	$1,550	$1.02	15d	1	0.53mi
1342 Guthrie St Fort Wayne, IN	3.0	1.0	1200	$899	$0.75	45d	1	0.59mi
2133 Riedmiller Ave Fort Wayne, IN	3.0	1.0	1056	$1,050	$0.99	22d	1	0.66mi
3008 Webster St Fort Wayne, IN	3.0	1.0	1344	$1,449	$1.08	22d	1	0.72mi
3221 Webster St Fort Wayne, IN	5.0	2.0	1885	$1,575	$0.84	15d	1	0.74mi
4201 S Wayne Ave Fort Wayne, IN	3.0	1.5	1252	$1,400	$1.12	22d	1	0.78mi
3510 S Harrison St Fort Wayne, IN	3.0	1.0	1248	$975	$0.78	15d	1	0.80mi
3221 S Harrison St Fort Wayne, IN	5.0	2.0	2062	$1,650	$0.80	22d	1	0.81mi
2616 S Harrison St Fort Wayne, IN	4.0	2.0	1908	$1,500	$0.79	45d	1	0.83mi
1104 Stophlet St Fort Wayne, IN	3.0	1.5	1288	$1,400	$1.09	15d	1	0.89mi
116 E Pontiac St Fort Wayne, IN	3.0	1.5	1400	$1,175	$0.84	22d	1	0.93mi
2118 Webster St Fort Wayne, IN	4.0	1.0	2200	$1,175	$0.53	45d	1	0.96mi
2530 Lafayette St Fort Wayne, IN	4.0	1.0	1816	$1,500	$0.83	45d	1	1.14mi
877 Lavina St Fort Wayne, IN	1.0–3.0	1.0–2.0	997	$2,980	$2.99	45d	17	1.17mi
1118 Rockhill St Fort Wayne, IN	3.0	3.0	1790	$2,300	$1.28	45d	1	1.21mi
603 Lavina St Fort Wayne, IN	3.0	2.0	1872	$1,899	$1.01	45d	1	1.21mi
451 E Pontiac St Fort Wayne, IN	3.0	1.0	1308	$1,050	$0.80	45d	1	1.24mi
420 E Dewald St Fort Wayne, IN	3.0	1.5	1472	$1,300	$0.88	45d	1	1.29mi
4133 Lafayette St Fort Wayne, IN	4.0	2.0	1640	$1,400	$0.85	22d	1	1.29mi

Listing history 7 events

1. 2026-06-14
   statusdays on market $175,900 Pending 10 DOM
2. 2026-06-10
   days on market $175,900 Active 7 DOM
3. 2026-06-09
   days on market $175,900 Active 6 DOM
4. 2026-06-08
   days on market $175,900 Active 5 DOM
5. 2026-06-07
   days on market $175,900 Active 4 DOM
6. 2026-06-03
   remarks 374-char remark
7. 2026-06-03
   listed $175,900 Active 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: $2,451 · $204/mo
• Projected year-2 tax: $2,451 · $204/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: $21,420
• − Mortgage interest: −$9,853
• − Property taxes: −$2,451
• − Insurance: −$880
• − Repairs & maintenance: −$1,714
• − Management: −$1,714
• − Depreciation: −$5,117
• Taxable loss: −$308
• Est. tax savings @ 24.0%: +$74
• After-tax cash flow: $2,596/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): 16,317
• Household income: $58,685
• Rent vs Own: 39.7% rent · 60.3% own
• Severe rent burden: 680.0

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 54% Two or more races 19% Hispanic / Latino 16% Black 14% Asian 4%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Slovak 3% Lithuanian 3% Romanian 2%
• Foreign-born: 9% · Canada, Philippines, Jamaica
• Languages at home: 82% English-only · Spanish 13% Other Asian/Pacific 4% German/W. Germanic 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: ▼ -318.66%
• Current HPI: 272.6238
• Rent YoY: ▲ 8.24%
• 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

+46.7% since first listed

10 events — show timeline

• 2026-06-03 Listed $175,900 IRMLS
• 2025-02-19 Sold (MLS) $140,000 IRMLS
• 2025-01-09 Pending — IRMLS
• 2024-12-15 Price Changed $157,500 IRMLS
• 2024-09-22 Listed $162,400 IRMLS
• 2024-06-06 Rental Removed $850 BUILDIUM
• 2024-03-30 Price Changed $850 BUILDIUM
• 2024-03-20 Listed for Rent $900 BUILDIUM
• 2022-05-12 Sold (MLS) $104,900 IRMLS
• 2022-04-04 Listed $119,900 IRMLS

Property tax history

+7.4%/yr

Latest (2024): $2,451 · +1.9% YoY. Source: county tax records.