1808 Wisteria Pl · Fort Wayne, IN 46818

$298,000

3 bd · 2.5 ba · 1,709 sqft · SingleFamily public records · 6 Days on market

Built 1997 0.27 ac lot $174/sqft · 6% below area Est $317k · 6% under

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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).

• ARV discount +10.2/15.0
• Cash flow +9.1/30.0
• Schools +4.9/10.0
• Rent growth +4.4/5.0
• Livability +4.2/5.0
• DSCR +2.5/10.0
• Condition / age +2.5/5.0
• 1% rule +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Your new home awaits in NWAC’s Falls of Keefer Creek! This 3 bedroom, 2.5 bath home offers thoughtful surprises that make its 1709 sqft seem like so much more. The Lofted Great Room w/ newer overhead skylights allow light in and features remote shades. The heart of the home will be the large eat-in kitchen or the more formal dining room for larger gatherings. In addition to the great room, there is a second sunny family room which opens to the completely enclosed back porch where you will enjoy year-round living with an in-wall heating/AC unit. The primary bedroom features an en-suite bath w/ WC & his-and-hers walk-in closets. The other 2 bedrooms offer flexible office or bedroo

Key facts

• 0.27 acre lot
• 3 garage spots
• Built 1997

Property features AI

Exterior

• Parking: Attached garage; 3-car garage; Garage with door opener; Off-street parking
• Utilities: Public water; Public sewer; Natural gas
• Home design: Single-family site-built home; One story
• Construction: Brick, vinyl siding, and wood siding exterior; Slab foundation
• Exterior features: Enclosed porch; Partial privacy fencing; Located on a cul-de-sac; Level lot

Interior

• Kitchen: Disposal; Dishwasher; Microwave; Refrigerator; Electric range; Kitchen island
• Bedrooms: Main level bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms; 1 half bathroom; 3 bathrooms on the main level
• Heating & cooling: Natural gas forced air heating; Central air conditioning; Ceiling fans
• Interior features: Cathedral ceilings; Tray ceilings; Entrance foyer; Ceiling fans; Kitchen island; Walk-in closets; Skylights; Window treatments
• Laundry & utility: Washer; Dryer; Main level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $298k.

Deal economics

• At list price, monthly cash flow is $-228 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $258k (13.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $211k (29.2% below list).
• Recommended offer: $211k (29.2% below list) — sets the bar for 1% rule.

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+.
• 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: Hickory Center Elementary School (math 60% / reading 54%, grade C+, #172 of 994 statewide, top 18%, 462 students, 25% 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).
• Market conditions: Rents rising fast (+7.6%/yr); 329 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,861 units permitted in Allen County in 2024 (576 in 5+ unit buildings).
• This rent runs 31% 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 6 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $211,021 (29.2% 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. 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 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: 0.71% ✗
• Cap rate: 5.38%
• Cash-on-cash: -3.28%
• DSCR: 0.85
• GRM: 11.8

CMA / ARV

• ARV (median comp): $316,883
• List price: $298,000
• Delta: -5.96%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2028 Weather Wood Pl	0.42mi	3/2.5	1,689 (-1%)	8mo	$283,500	$168	72
2025 York Ridge Pl	0.38mi	3/2.5	1,607 (-6%)	2mo	$329,900	$205	71
1326 Bluff Pointe Way	0.51mi	3/2.5	1,700 (-0%)	6mo	$299,900	$176	70
11628 Leatherwood Run	0.47mi	3/2.0	1,705 (-0%)	7mo	$347,500	$204	70
1603 Bear Claw Ln	0.41mi	3/2.5	1,546 (-10%)	4mo	$247,000	$160	61
2607 Creeping Phlox Cv	0.51mi	3/2.5	1,839 (+8%)	4mo	$284,900	$155	60
1231 Bluff Pointe Way	0.46mi	3/2.0	1,569 (-8%)	7mo	$285,600	$182	58
12228 Shearwater Run	0.74mi	3/2.5	1,800 (+5%)	0mo	$270,000	$150	56
1034 Hemingford Ct	0.59mi	3/2.5	1,897 (+11%)	2mo	$314,900	$166	52
2529 Sweet Cider Rd	0.69mi	3/2.5	1,807 (+6%)	8mo	$277,000	$153	52
1923 Sweet Cider Rd	0.51mi	4/2.5 (+1)	1,843 (+8%)	8mo	$294,900	$160	51
12012 Kimball Run	0.52mi	3/2.5	1,924 (+13%)	7mo	$255,000	$133	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: -17.2%
• Equity multiple: 0.37×
• Total profit: $-52,563
• Equity at exit: $44,433

10-year hold

• IRR: -2.7%
• Equity multiple: 0.78×
• Total profit: $-18,164
• Equity at exit: $25,766

Cash invested: $83,440 (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: 329
• Price-to-rent: 11.8×

Monthly cashflow live

• Estimated rent: $2,110 medium
• Mortgage (P&I): −$1,563
• Tax from tax record: −$208 /mo · $2,497/yr
• Insurance: −$124
• HOA: −$0
• Vacancy / Maint / Mgmt: −$443
• Net cashflow: $-228

Break-even live

Break-even rent $2,399

Max offer price $257,735

Occupancy floor —

Sensitivity live

Price	-10% $-59	-5% $-144	+0% $-228	+5% $-312	+10% $-397
Rent	-10% $-395	-5% $-311	+0% $-228	+5% $-145	+10% $-61
Rate	-1.0pp $-78	-0.5pp $-152	base $-228	+0.5pp $-305	+1.0pp $-384

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: $74,500
• Closing costs: $8,940
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1527 Flint Lock Ln Fort Wayne, IN	3.0	2.5	1570	$1,950	$1.24	45d	1	0.59mi
10230 Avalon Way Fort Wayne, IN	1.0–3.0	1.0–2.0	956	$1,625	$1.70	15d	23	0.99mi
3115 Carroll Rd Fort Wayne, IN	3.0	2.0	1244	$2,300	$1.85	15d	1	1.00mi

Listing history 2 events

1. 2026-05-30
   status $298,000 Pending 6 DOM
2. 2026-05-15
   historical $298,000 1070-char remark

ⓘ 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: $2,497 · $208/mo
• Projected year-2 tax: $2,515 · $210/mo
• Expected delta: +$18/yr (+$1/mo · 0.7%)

ⓘ 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 ≥101°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: $25,323
• − Mortgage interest: −$16,693
• − Property taxes: −$2,497
• − Insurance: −$1,490
• − Repairs & maintenance: −$2,026
• − Management: −$2,026
• − Depreciation: −$8,669
• Taxable loss: −$8,078
• Est. tax savings @ 24.0%: +$1,939
• After-tax cash flow: $-797/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 — 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): 21,954
• 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

• 2026-05-29 Pending — IRMLS
• 2026-05-23 Listed $298,000 IRMLS
• 2026-05-15 Coming Soon $298,000 IRMLS

Property tax history

+3.1%/yr

Latest (2024): $2,497 · +7.1% YoY. Source: county tax records.