Lancia's Franklin II Plan · New Haven, IN 46774

$222,100

3 bd · 2.0 ba · 1,415 sqft · SingleFamily · 351 Days on market

Excellent condition $26/mo HOA · 1% 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 +10.2/30.0
• ARV discount +7.5/15.0
• Condition / age +4.8/5.0
• Schools +3.6/10.0
• Livability +3.5/5.0
• 1% rule +3.2/10.0
• DSCR +2.9/10.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS IS A SAMPLE PLAN - THIS IS NOT A HOME FOR SALE. Lancia's Franklin II is an easy plan to personalize! Arched doorway leads to the Great Room with 9' ceilings. Kitchen island with sink and breakfast bar also overlooks the Great Room. 13x9 covered porch with open 13x6 patio beyond - also worked well with a screened back porch as an upgrade!

Key facts

• Covered porch
• Bonus room
• Kitchen island

Tags

• ARCHED DOORWAY
• KITCHEN ISLAND
• COVERED PORCH
• SEPARATE LAUNDRY ROOM
• BONUS ROOM
• FULL OR PARTIAL BASEMENT

🏗️ New construction. The $222,100 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $244,619.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $222k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-137 ($-2k/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 $200k (10.0% below list).
• Recommended offer: $195k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 70/100 on livability (#149 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, crime B+; Watch: employment D, amenities F, commute F.
• East Allen County Schools (suburban): math 36% / reading 47% proficiency, ranked #122 of 301 in IN (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: New Haven Intermediate School (math 28% / reading 29%, grade F, #727 of 994 statewide, top 73%, 589 students, 64% FRL); New Haven Jr/Sr High School (math 21% / reading 50%, grade F, #263 of 369 statewide, top 72%, 1,494 students, 67% FRL) — zoned schools average 66% FRL vs 43% district-wide (23 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: 221 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 93d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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 34% of the median local income ($71k/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 $7k 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 351 days — a 12% lower offer ($195k) is reasonable based on typical stale-listing flexibility.

Recommended offer $195,448 (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 351 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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: 0.82% ✗
• Cap rate: 5.62%
• Cash-on-cash: -2.40%
• DSCR: 0.89
• GRM: 10.2

CMA / ARV

• ARV (median comp): $244,619
• List price: $222,100
• Delta: -9.21%
• 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
1418 Deveron Dr	0.18mi	3/1.5	1,382 (-2%)	2mo	$215,900	$156	84
3942 Olivene Cv	0.26mi	3/2.0	1,410 (-0%)	5mo	$232,000	$165	84
3586 Canal Square Dr	0.17mi	3/1.5	1,467 (+4%)	4mo	$239,900	$164	80
1547 Tartan Ln	0.39mi	3/1.5	1,400 (-1%)	4mo	$215,000	$154	75
10232 Archstone Cv	0.11mi	3/2.0	1,583 (+12%)	3mo	$239,900	$152	72
10364 Silver Rock Chase	0.35mi	3/2.0	1,509 (+7%)	5mo	$297,900	$197	69
3821 Scarborough Dr	0.49mi	3/2.0	1,479 (+4%)	1mo	$269,000	$182	68
3810 Victoria Lakes Ct	0.13mi	3/2.0	1,620 (+14%)	3mo	$325,000	$201	68
10432 Chesterhills Ct	0.51mi	3/2.0	1,486 (+5%)	1mo	$269,900	$182	67
10257 Crossland Ln	0.24mi	3/2.0	1,596 (+13%)	2mo	$294,763	$185	66
1546 Mac Pherson Dr	0.36mi	4/1.5 (+1)	1,556 (+10%)	1mo	$220,000	$141	58
1503 Glencoe Blvd	0.71mi	3/1.5	1,470 (+4%)	4mo	$212,800	$145	55

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -20.3%
• Equity multiple: 0.29×
• Total profit: $-48,333
• Equity at exit: $36,473

10-year hold

• IRR: -13.3%
• Equity multiple: 0.22×
• Total profit: $-53,154
• Equity at exit: $21,150

Cash invested: $68,493 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 19 active · 15 under contract
• Months of supply: 4.4 mo (23%/mo absorbed)
• Median asking: $248,100 ($164/sqft)
• Median days on market: 351 d
• This list price: 21% of active listings are priced below it
• ARV vs active asking: +5.7% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 46774

• Active inventory: 221
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,999 medium
• Mortgage (P&I): −$1,283
• Tax est. 1.5%: −$306 /mo · $3,669/yr
• Insurance: −$102
• HOA: −$26
• Vacancy / Maint / Mgmt: −$420
• Net cashflow: $-137

Break-even live

Break-even rent $2,173

Max offer price $224,762

Occupancy floor —

Sensitivity live

Price	-10% $32	-5% $-53	+0% $-137	+5% $-222	+10% $-306
Rent	-10% $-295	-5% $-216	+0% $-137	+5% $-58	+10% $21
Rate	-1.0pp $-14	-0.5pp $-75	base $-137	+0.5pp $-201	+1.0pp $-265

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: $61,155
• Closing costs: $7,339
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3599 Canal Square Dr New Haven, IN	3.0	2.5	1832	$2,295	$1.25	70d	1	0.16mi
3591 Canal Square Dr New Haven, IN	3.0	1.5	1467	$1,695	$1.16	93d	1	0.20mi
10390 Silver Rock Chase New Haven, IN	4.0	2.5	1767	$2,250	$1.27	93d	1	0.33mi
1135 Summit St New Haven, IN	2.0	1.0	1061	$1,025	$0.97	70d	1	1.29mi

Listing history 50 events

1. 2026-08-08
   days on market $222,100 Active 351 DOM
2. 2026-08-07
   days on market $222,100 Active 350 DOM
3. 2026-08-06
   days on market $222,100 Active 349 DOM
4. 2026-08-05
   days on market $222,100 Active 348 DOM
5. 2026-08-04
   days on market $222,100 Active 347 DOM
6. 2026-08-03
   days on market $222,100 Active 346 DOM
7. 2026-07-31
   days on market $222,100 Active 343 DOM
8. 2026-07-30
   days on market $222,100 Active 342 DOM
9. 2026-07-29
   days on market $222,100 Active 341 DOM
10. 2026-07-27
    days on market $222,100 Active 339 DOM
11. 2026-07-25
    days on market $222,100 Active 337 DOM
12. 2026-07-23
    days on market $222,100 Active 335 DOM
13. 2026-07-22
    days on market $222,100 Active 334 DOM
14. 2026-07-21
    days on market $222,100 Active 333 DOM
15. 2026-07-18
    days on market $222,100 Active 330 DOM
16. 2026-07-16
    days on market $222,100 Active 328 DOM
17. 2026-07-16
    days on market $222,100 Active 327 DOM
18. 2026-07-14
    days on market $222,100 Active 326 DOM
19. 2026-07-13
    days on market $222,100 Active 325 DOM
20. 2026-07-12
    days on market $222,100 Active 324 DOM
21. 2026-07-11
    days on market $222,100 Active 323 DOM
22. 2026-07-10
    days on market $222,100 Active 322 DOM
23. 2026-07-09
    days on market $222,100 Active 321 DOM
24. 2026-07-08
    days on market $222,100 Active 320 DOM
25. 2026-07-07
    days on market $222,100 Active 319 DOM
26. 2026-07-06
    days on market $222,100 Active 318 DOM
27. 2026-07-05
    days on market $222,100 Active 317 DOM
28. 2026-07-04
    days on market $222,100 Active 316 DOM
29. 2026-07-03
    days on market $222,100 Active 315 DOM
30. 2026-07-02
    days on market $222,100 Active 314 DOM
31. 2026-07-01
    days on market $222,100 Active 313 DOM
32. 2026-06-30
    days on market $222,100 Active 312 DOM
33. 2026-06-29
    days on market $222,100 Active 311 DOM
34. 2026-06-28
    days on market $222,100 Active 310 DOM
35. 2026-06-28
    days on market $222,100 Active 309 DOM
36. 2026-06-27
    days on market $222,100 Active 308 DOM
37. 2026-06-25
    days on market $222,100 Active 306 DOM
38. 2026-06-23
    days on market $222,100 Active 304 DOM
39. 2026-06-21
    days on market $222,100 Active 303 DOM
40. 2026-06-18
    days on market $222,100 Active 300 DOM
41. 2026-06-17
    days on market $222,100 Active 299 DOM
42. 2026-06-16
    days on market $222,100 Active 298 DOM
43. 2026-06-15
    days on market $222,100 Active 297 DOM
44. 2026-06-14
    days on market $222,100 Active 295 DOM
45. 2026-06-13
    days on market $222,100 Active 294 DOM
46. 2026-06-10
    days on market $222,100 Active 292 DOM
47. 2026-06-09
    days on market $222,100 Active 291 DOM
48. 2026-06-08
    days on market $222,100 Active 290 DOM
49. 2026-06-07
    days on market $222,100 Active 289 DOM
50. 2026-06-03
    days on market $222,100 Active 285 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $23,989
• − Mortgage interest: −$13,702
• − Property taxes: −$3,669
• − Insurance: −$1,223
• − Repairs & maintenance: −$1,919
• − Management: −$1,919
• − HOA: −$312
• − Depreciation: −$7,116
• Taxable loss: −$5,872
• Est. tax savings @ 24.0%: +$1,409
• After-tax cash flow: $-237/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 · 13 photos

Excellent 95/100 None rehab

This home is in excellent condition with modern finishes and a well-maintained exterior. It is move-in ready and would benefit from minor updates to enhance its curb appeal and value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics ↑
• Both Landscaping improvements — Enhanced landscaping can improve curb appeal and attract potential buyers ↑
• Both Adding smart home features — Smart home features can increase both resale and rental value ↑

F Composite school gradezoned avg 36/100

Zoned Schools

Elementary New Haven Primary School High New Haven Jr/sr High School F IN #263/369 Nat'l #9,497/17,239

Schools (NCES district)

• District: East Allen County Schools
• NCES district ID: 1802850
• Math proficiency: 36% ▼ -8.00%
• Reading proficiency: 47% ▼ -4.00%
• Median HH income: $50,524
• Composite: 35.75/100
• National rank: #4849
• State rank: #122 of 301 in IN

B Composite livability gradescore 70/100

Livability — New Haven

• Score: 70/100
• State rank: #149
• US rank: #7499

Category grades

Amenities F Commute F Cost of living A+ Crime B+ Employment D Housing A+ Health & safety C+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: New Haven, IN
• County: Allen · 394,020 people
• Metro: Fort Wayne, IN
• Population (ZIP): 17,066
• Household income: $70,758
• Rent vs Own: 21.4% rent · 78.6% own
• Severe rent burden: 9% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (89%)
• Race & ethnicity: White 89% Two or more races 4% Hispanic / Latino 4% Black 3% Asian 1%
• Common ancestry: Lithuanian 5% Italian 2% Slovak 1%
• Foreign-born: 3% · Canada, Philippines
• Languages at home: 89% English-only · German/W. Germanic 6% Spanish 3% Chinese 1%

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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: ▼ -185.27%
• Current HPI: 241.5333
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

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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

+1.0% since first listed

2 events — show timeline

• 2026-02-09 Price Changed $217,300 Zillow
• 2025-08-22 Listed $215,200 Zillow