436 E Taber St · Fort Wayne, IN 46803

$145,000

3 bd · 2.0 ba · 1,232 sqft · MultiFamily public records · 13 Days on market

Built 1900 5,400 sqft lot Est $133k · 9% over

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Why this score? — see what drove the B 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• Livability +4.2/5.0
• ARV discount +3.5/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Back on the market not due to seller. New Gas Forced Air Furnace. New water heater. Lower unit leased for one year at $1100.00 per month (no deposit collected). Lower has new kitchen cabinets with vinyl plank flooring and gas stove. Garage is for the lower unit and has a one door opening but two car dimensions. Upper rented for $695.00 with one year lease (no deposit). Off street parking for upper unit. Bath up has a new tile floor and tub surround and new gas stove. Throughout new flooring, lighting, interior doors. Vinyl siding and windows. Owner did not own the property when occupied so there is no record of prior expenses or income. Both tenants combined annual income totals $21540. Utilities are not separated. Owner pays all utilities. Annual net income is not available. One year lease for both units are uploaded.

Key facts

• Expansive side yard
• Large lot
• Detached garage

Tags

• DETACHED GARAGE
• LARGE LOT
• EXPANSIVE SIDE YARD
• WALKING DISTANCE TO PARK
• MINUTES FROM DOWNTOWN

Property features AI

Finance

• Other: Pets allowed with breed restrictions

Exterior

• Parking: Garage; On-street parking
• Utilities: Public water; Public sewer
• Home design: Duplex (residential income); Two stories
• Construction: Vinyl siding; Block foundation; Built as part of a two-story structure
• Exterior features: Deck; Patio; Wood fencing; Asphalt roof

Interior

• Kitchen: Range; Refrigerator
• Flooring: Carpet; Tile; Vinyl
• Bathrooms: Two full bathrooms; Three main-level bathrooms
• Heating & cooling: Baseboard heating; Electric heating; Forced air heating; Natural gas heating
• Interior features: Range and refrigerator included; Carpet, tile, and vinyl flooring; Crawl space basement (unfinished)
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/2.0-bath units multifamily listed at $145k.

Deal economics

• At list price, monthly cash flow is $924 ($11k/yr) — positive. Per door: $462/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Cap rate 13.9% vs local median 4.8% 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: Arlington Elementary School (math 37% / reading 32%, grade F, #597 of 994 statewide, top 63%, 420 students, 54% FRL); Jefferson Middle School (math 22% / reading 29%, grade F, #243 of 330 statewide, top 74%, 682 students, 58% FRL); Northrop High School (math 25% / reading 62%, grade F, #191 of 369 statewide, top 52%, 2,136 students, 54% FRL).
• Market conditions: 52 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,861 units permitted in Allen County in 2024 (576 in 5+ unit buildings).
• At $2,431/mo this rent would consume 85% of the median local household income ($34k/yr) (locally 660% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $16k of equity ($1k loan paydown + $14k appreciation (10.0% local appreciation)).
• Allen County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $41k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $145,000

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 1.68% ✓
• Cap rate: 13.94%
• Cash-on-cash: 27.32%
• DSCR: 2.22
• GRM: 5.0

CMA / ARV

• ARV (on-the-fly): $133,056
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3610 Lafayette St	0.75mi	3/1.0	1,188 (-4%)	10mo	$74,000	$62	47
2011 Hoagland Ave	0.62mi	2/2.0 (-1)	1,112 (-10%)	14mo	$119,900	$108	38

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 44.9%
• Equity multiple: 4.40×
• Total profit: $137,880
• Equity at exit: $130,627

10-year hold

• IRR: 39.0%
• Equity multiple: 9.86×
• Total profit: $359,799
• Equity at exit: $281,703

Cash invested: $40,600 (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 46803

• Active inventory: 52
• Price-to-rent: 9.9×

Monthly cashflow live

• Estimated rent: $2,431 high
• Mortgage (P&I): −$760
• Tax from tax record: −$175 /mo · $2,103/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$511
• Net cashflow: $924

Break-even live

Break-even rent $1,261

Max offer price $145,000

Occupancy floor 57%

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

Units	Beds	Baths	Est. rent
▸ 2× units	3	2	$2,432
Total (2 units)			$2,431

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
420 E Dewald St Fort Wayne, IN	3.0	1.5	1472	$1,300	$0.88	43d	1	0.15mi
451 E Pontiac St Fort Wayne, IN	3.0	1.0	1308	$1,050	$0.80	43d	1	0.16mi
116 E Pontiac St Fort Wayne, IN	3.0	1.5	1400	$1,175	$0.84	21d	1	0.32mi
442 E Wildwood Ave Fort Wayne, IN	2.0	1.0	864	$875	$1.01	21d	1	0.41mi
859 Buchanan St Fort Wayne, IN	1.0–4.0	1.0	887	$1,074	$1.21	21d	1	0.48mi
309 W Leith St Unit 2 Fort Wayne, IN	2.0	1.0	900	$1,000	$1.11	43d	1	0.53mi
309 W Williams St Unit 1 Fort Wayne, IN	2.0	1.0	900	$900	$1.00	21d	1	0.56mi
3008 Webster St Fort Wayne, IN	3.0	1.0	1344	$1,449	$1.08	21d	1	0.57mi
217 W Masterson Ave Fort Wayne, IN	2.0	1.0	1100	$995	$0.90	21d	1	0.57mi
1024 Colerick St Fort Wayne, IN	4.0	1.0	1388	$1,065	$0.77	21d	1	0.60mi
2445 Fairfield Ave Fort Wayne, IN	2.0	1.5	950	$1,150	$1.21	13d	3	0.65mi
3510 S Harrison St Fort Wayne, IN	3.0	1.0	1248	$975	$0.78	13d	1	0.78mi
227 W Darrow Ave Fort Wayne, IN	3.0	1.0	995	$1,000	$1.01	43d	1	0.79mi
3009 Holton Ave Fort Wayne, IN	3.0	1.0	1212	$1,400	$1.16	13d	1	0.82mi
3801 Lafayette St Fort Wayne, IN	2.0	1.0	1116	$995	$0.89	13d	1	0.85mi
1023 Hamilton Ave Fort Wayne, IN	3.0	1.0	1152	$1,075	$0.93	13d	1	0.88mi
810 Huestis Ave Apt 1 Fort Wayne, IN	2.0	1.0	749	$925	$1.23	21d	1	0.90mi
824 Huestis Ave Apt C Fort Wayne, IN	2.0	1.0	744	$825	$1.11	21d	1	0.93mi
907 Lincoln Ave Fort Wayne, IN	2.0	1.0	1060	$850	$0.80	13d	1	0.97mi
1131 E Lewis St Fort Wayne, IN	4.0	2.0	1476	$1,950	$1.32	13d	1	0.97mi
4018 S Clinton St Fort Wayne, IN	3.0	1.0	860	$1,000	$1.16	21d	1	1.00mi
1250 Ewing St Fort Wayne, IN	2.0	1.0–2.0	980	$2,081	$2.12	21d	24	1.01mi
2136 Miner St #2 Fort Wayne, IN	2.0	1.0	850	$1,200	$1.41	43d	1	1.01mi
919 Madison St Fort Wayne, IN	2.0	1.0	1332	$995	$0.75	43d	1	1.03mi
418 W Rudisill Blvd Unit 2 Fort Wayne, IN	2.0	1.0	768	$975	$1.27	21d	1	1.05mi
112 W Washington Blvd Fort Wayne, IN	1.0–2.0	1.0–2.0	768	$1,500	$1.95	21d	2	1.08mi
4126 Lafayette St Fort Wayne, IN	2.0	1.0	775	$1,275	$1.65	43d	1	1.08mi
4121 Monroe St Fort Wayne, IN	2.0	1.0	725	$1,100	$1.52	13d	1	1.09mi
3410 S Anthony Blvd Fort Wayne, IN	3.0	1.0	900	$1,200	$1.33	43d	1	1.12mi
4014 Oliver St Fort Wayne, IN	3.0	1.0	936	$1,050	$1.12	13d	1	1.13mi
877 Lavina St Fort Wayne, IN	1.0–3.0	1.0–2.0	997	$2,980	$2.99	43d	17	1.14mi
1235 Huestis Ave Unit A Fort Wayne, IN	2.0	1.0	1040	$950	$0.91	43d	1	1.15mi
1104 Stophlet St Fort Wayne, IN	3.0	1.5	1288	$1,400	$1.09	13d	1	1.16mi
1320 Fay Dr Fort Wayne, IN	2.0	1.0	792	$800	$1.01	13d	1	1.21mi
1322 Fay Dr Fort Wayne, IN	2.0	1.0	792	$950	$1.20	21d	1	1.22mi
4331 Lafayette St Fort Wayne, IN	2.0	1.0	810	$925	$1.14	13d	1	1.23mi
1342 Guthrie St Fort Wayne, IN	3.0	1.0	1200	$899	$0.75	43d	1	1.25mi
1353 Huestis Ave Fort Wayne, IN	4.0	1.0	1328	$1,300	$0.98	13d	1	1.27mi
4129 Bowser Ave Fort Wayne, IN	3.0	1.5	850	$1,250	$1.47	21d	1	1.27mi
3932 Winter St Fort Wayne, IN	2.0	1.0	750	$875	$1.17	43d	1	1.27mi

Listing history 10 events

1. 2026-06-18
   days on market $145,000 Active 13 DOM
2. 2026-06-17
   days on market $145,000 Active 12 DOM
3. 2026-06-16
   days on market $145,000 Active 11 DOM
4. 2026-06-15
   days on market $145,000 Active 10 DOM
5. 2026-06-14
   days on market $145,000 Active 8 DOM
6. 2026-06-10
   days on market $145,000 Active 5 DOM
7. 2026-06-09
   days on market $145,000 Active 4 DOM
8. 2026-06-08
   days on market $145,000 Active 3 DOM
9. 2026-06-07
   remarks 699-char remark
10. 2026-06-07
    listed $145,000 Active 2 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: $2,103 · $175/mo
• Projected year-2 tax: $2,103 · $175/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: $29,172
• − Mortgage interest: −$8,122
• − Property taxes: −$2,103
• − Insurance: −$725
• − Repairs & maintenance: −$2,334
• − Management: −$2,334
• − Depreciation: −$4,218
• Taxable income: $9,336
• Est. tax owed @ 24.0%: −$2,241
• After-tax cash flow: $8,852/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): 10,994
• Household income: $34,381
• Rent vs Own: 56.4% rent · 43.6% own
• Severe rent burden: 660.0

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 0.69)
• Race & ethnicity: Black 42% White 27% Hispanic / Latino 24% Two or more races 10% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 17% Puerto Rican 1%
• Common ancestry: Lithuanian 1% Iranian 1% Serbian 1%
• Foreign-born: 11% · Canada, Philippines
• Languages at home: 81% English-only · Spanish 16% Other Asian/Pacific 1% French/Haitian/Cajun 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: ▲ 107.58%
• Current HPI: 404.7976
• Rent YoY: —
• 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

+7.5% since first listed

8 events — show timeline

• 2026-06-05 Listed $145,000 IRMLS
• 2025-07-30 Price Changed $165,000 IRMLS
• 2025-06-04 Listed $170,000 IRMLS
• 2023-08-04 Sold (MLS) $130,000 IRMLS
• 2023-07-01 Pending — IRMLS
• 2023-06-12 Relisted — IRMLS
• 2023-06-04 Pending — IRMLS
• 2023-05-31 Listed $134,900 IRMLS

Property tax history

+12.4%/yr

Latest (2024): $2,103 · +296.5% YoY. Source: county tax records.