1829 Hoagland Ave · Fort Wayne, IN 46802

$115,000

3 bd · 2.0 ba · 1,532 sqft · SingleFamily public records · 92 Days on market

Built 1915 2,178 sqft lot $75/sqft · at area comps Est $114k · at est. ↓ 4% 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 +23.5/30.0
• DSCR +7.6/10.0
• ARV discount +7.2/15.0
• 1% rule +6.7/10.0
• Livability +4.2/5.0
• Rent growth +2.9/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great investment opportunity or starter home in the 46802 near Electric Works and Downtown Fort Wayne! Schedule your showings today!

Key facts

• Downtown fort wayne
• Electric works
• 2,178 sq ft lot

Tags

• INVESTMENT OPPORTUNITY
• ELECTRIC WORKS
• DOWNTOWN FORT WAYNE

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $115k.

Deal economics

• At list price, monthly cash flow is $215 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• Recommended offer: $105k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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-, schools D+, 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.
• Market conditions: Rents rising (+1.8%/yr); 64 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 34% of the median local income ($47k/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 $795 of loan paydown is wiped out by about $3k 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 92 days — a 9% lower offer ($105k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 1915 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $104,650 (9.0% below list)

Questions for the listing agent

1. It's been on market 92 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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 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: 1.17% ✓
• Cap rate: 8.54%
• Cash-on-cash: 8.01%
• DSCR: 1.36
• GRM: 7.1

CMA / ARV

• ARV (median comp): $114,274
• List price: $115,000
• Delta: 0.64%
• 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
344 W Dewald St	0.23mi	3/1.5	1,500 (-2%)	5mo	$160,000	$107	80
2102 Webster St	0.20mi	4/2.0 (+1)	1,516 (-1%)	5mo	$196,000	$129	80
314 Brandriff St	0.08mi	4/2.0 (+1)	1,634 (+7%)	6mo	$181,000	$111	76
316 W Creighton Ave	0.30mi	4/2.0 (+1)	1,558 (+2%)	4mo	$190,000	$122	75
2431 Fox Ave	0.53mi	3/1.5	1,522 (-1%)	3mo	$104,000	$68	70
416 E Creighton Ave	0.62mi	3/2.0	1,512 (-1%)	2mo	$62,500	$41	68
820 W Jefferson Blvd	0.55mi	2/2.5 (-1)	1,614 (+5%)	2mo	$314,900	$195	56
501 E Lewis St	0.74mi	3/1.5	1,628 (+6%)	4mo	$97,000	$60	50
526 Lasselle St	0.67mi	4/2.0 (+1)	1,630 (+6%)	4mo	$205,900	$126	50
807 W Washington Blvd	0.58mi	4/2.0 (+1)	1,750 (+14%)	0mo	$234,645	$134	44
801 Grace Ave	0.61mi	3/3.0	1,738 (+13%)	5mo	$153,000	$88	42
2027 Thompson Ave	0.70mi	3/1.0	1,320 (-14%)	1mo	$163,000	$123	39

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 · 1.76% rent growth · sell at horizon

5-year hold

• IRR: -5.5%
• Equity multiple: 0.80×
• Total profit: $-6,549
• Equity at exit: $17,147

10-year hold

• IRR: 2.5%
• Equity multiple: 1.17×
• Total profit: $5,513
• Equity at exit: $9,943

Cash invested: $32,200 (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 46802

• Home prices YoY: -30.0%
• Rents YoY: 1.8%
• Active inventory: 64
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,341 high
• Mortgage (P&I): −$603
• Tax from tax record: −$194 /mo · $2,325/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $215

Break-even live

Break-even rent $1,069

Max offer price $115,000

Occupancy floor 79%

Sensitivity live

Price	-10% $280	-5% $247	+0% $215	+5% $182	+10% $150
Rent	-10% $109	-5% $162	+0% $215	+5% $268	+10% $321
Rate	-1.0pp $273	-0.5pp $244	base $215	+0.5pp $185	+1.0pp $155

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
217 W Masterson Ave Fort Wayne, IN	2.0	1.0	1100	$995	$0.90	21d	1	0.15mi
2118 Webster St Fort Wayne, IN	4.0	1.0	2200	$1,175	$0.53	44d	1	0.25mi
603 Lavina St Fort Wayne, IN	3.0	2.0	1872	$1,899	$1.01	44d	1	0.32mi
1250 Ewing St Fort Wayne, IN	2.0	1.0–2.0	980	$2,081	$2.12	21d	24	0.36mi
877 Lavina St Fort Wayne, IN	1.0–3.0	1.0–2.0	997	$2,980	$2.99	44d	17	0.43mi
1104 Stophlet St Fort Wayne, IN	3.0	1.5	1288	$1,400	$1.09	14d	1	0.52mi
2431 Fox Ave Fort Wayne, IN	3.0	1.5	1522	$1,550	$1.02	14d	1	0.54mi
1118 Rockhill St Fort Wayne, IN	3.0	3.0	1790	$2,300	$1.28	44d	1	0.59mi
2616 S Harrison St Fort Wayne, IN	4.0	2.0	1908	$1,500	$0.79	44d	1	0.60mi
420 E Dewald St Fort Wayne, IN	3.0	1.5	1472	$1,300	$0.88	44d	1	0.61mi
901 W Wayne St Unit 3 Fort Wayne, IN	2.0	2.0	1312	$1,700	$1.30	44d	1	0.65mi
116 E Pontiac St Fort Wayne, IN	3.0	1.5	1400	$1,175	$0.84	21d	1	0.66mi
835 Van Buren St Fort Wayne, IN	2.0	1.0–2.0	750	$1,995	$2.66	14d	29	0.67mi
907 Lincoln Ave Fort Wayne, IN	2.0	1.0	1060	$850	$0.80	14d	1	0.71mi
2530 Lafayette St Fort Wayne, IN	4.0	1.0	1816	$1,500	$0.83	44d	1	0.72mi
1342 Guthrie St Fort Wayne, IN	3.0	1.0	1200	$899	$0.75	44d	1	0.74mi
3008 Webster St Fort Wayne, IN	3.0	1.0	1344	$1,449	$1.08	21d	1	0.79mi
2133 Riedmiller Ave Fort Wayne, IN	3.0	1.0	1056	$1,050	$0.99	21d	1	0.80mi
915 Garden St Fort Wayne, IN	2.0	2.0	1275	$1,650	$1.29	14d	1	0.83mi
1360 Huestis Ave Fort Wayne, IN	3.0	1.0	1056	$1,080	$1.02	14d	1	0.83mi
1353 Huestis Ave Fort Wayne, IN	4.0	1.0	1328	$1,300	$0.98	14d	1	0.83mi
451 E Pontiac St Fort Wayne, IN	3.0	1.0	1308	$1,050	$0.80	44d	1	0.84mi
2430 Thompson Ave Fort Wayne, IN	2.0	1.0	1197	$975	$0.81	14d	1	0.84mi
1132 S Hanna St Unit 1 Fort Wayne, IN	4.0	1.5	1656	$1,600	$0.97	44d	1	0.88mi
859 Buchanan St Fort Wayne, IN	1.0–4.0	1.0	887	$1,074	$1.21	21d	1	0.90mi
724 Kinnaird Ave Fort Wayne, IN	3.0	1.5	1880	$1,450	$0.77	44d	1	0.92mi
919 Madison St Fort Wayne, IN	2.0	1.0	1332	$995	$0.75	44d	1	1.08mi
3510 S Harrison St Fort Wayne, IN	3.0	1.0	1248	$975	$0.78	14d	1	1.12mi
1131 E Lewis St Fort Wayne, IN	4.0	2.0	1476	$1,950	$1.32	14d	1	1.13mi
805 Edgewater Ave Fort Wayne, IN	3.0	1.0	1075	$1,550	$1.44	14d	1	1.15mi
807 Edgewater Ave Fort Wayne, IN	3.0	1.0	1075	$1,450	$1.35	21d	1	1.15mi
1024 Colerick St Fort Wayne, IN	4.0	1.0	1388	$1,065	$0.77	21d	1	1.30mi
739 W 4th St Fort Wayne, IN	4.0	2.0	1750	$1,995	$1.14	14d	1	1.37mi
3801 Lafayette St Fort Wayne, IN	2.0	1.0	1116	$995	$0.89	14d	1	1.38mi
1501 E Lewis St Fort Wayne, IN	4.0	1.0	2000	$1,450	$0.72	44d	1	1.38mi
2627 Holton Ave Fort Wayne, IN	3.0	2.0	1936	$1,500	$0.77	14d	1	1.39mi
1626 Howell St Unit 201 Fort Wayne, IN	3.0	2.0	1200	$1,700	$1.42	21d	1	1.47mi

Listing history 20 events

1. 2026-06-18
   days on market $115,000 Active 92 DOM
2. 2026-06-17
   days on market $115,000 Active 91 DOM
3. 2026-06-16
   days on market $115,000 Active 90 DOM
4. 2026-06-15
   days on market $115,000 Active 89 DOM
5. 2026-06-14
   days on market $115,000 Active 87 DOM
6. 2026-06-10
   days on market $115,000 Active 84 DOM
7. 2026-06-09
   days on market $115,000 Active 83 DOM
8. 2026-06-08
   days on market $115,000 Active 82 DOM
9. 2026-06-07
   days on market $115,000 Active 81 DOM
10. 2026-06-03
    days on market $115,000 Active 77 DOM
11. 2026-06-02
    days on market $115,000 Active 76 DOM
12. 2026-06-01
    days on market $115,000 Active 75 DOM
13. 2026-05-31
    days on market $115,000 Active 74 DOM
14. 2026-05-30
    days on market $115,000 Active 73 DOM
15. 2026-04-23
    status Active 132-char remark

    Show marketing remark (132 chars)

    Great investment opportunity or starter home in the 46802 near Electric Works and Downtown Fort Wayne! Schedule your showings today!

16. 2026-04-23
    status Pending 132-char remark

    Show marketing remark (132 chars)

    Great investment opportunity or starter home in the 46802 near Electric Works and Downtown Fort Wayne! Schedule your showings today!

17. 2026-04-21
    status Active 132-char remark

    Show marketing remark (132 chars)

    Great investment opportunity or starter home in the 46802 near Electric Works and Downtown Fort Wayne! Schedule your showings today!

18. 2026-04-21
    price $115,000 132-char remark

    Show marketing remark (132 chars)

    Great investment opportunity or starter home in the 46802 near Electric Works and Downtown Fort Wayne! Schedule your showings today!

19. 2026-04-04
    status Pending 132-char remark

    Show marketing remark (132 chars)

    Great investment opportunity or starter home in the 46802 near Electric Works and Downtown Fort Wayne! Schedule your showings today!

20. 2026-03-01
    listed $120,000 Active 132-char remark

    Show marketing remark (132 chars)

    Great investment opportunity or starter home in the 46802 near Electric Works and Downtown Fort Wayne! Schedule your showings today!

ⓘ 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: $2,325 · $194/mo
• Projected year-2 tax: $2,325 · $194/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 6/10 Major FEMA zone X (unshaded) · 70% 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: $16,096
• − Mortgage interest: −$6,442
• − Property taxes: −$2,325
• − Insurance: −$575
• − Repairs & maintenance: −$1,288
• − Management: −$1,288
• − Depreciation: −$3,345
• Taxable income: $833
• Est. tax owed @ 24.0%: −$200
• After-tax cash flow: $2,379/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): 11,177
• Household income: $46,854
• Rent vs Own: 65.0% rent · 35.0% own
• Severe rent burden: 589.0

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: Majority White (64%)
• Race & ethnicity: White 64% Black 16% Hispanic / Latino 14% Two or more races 10% Asian 2%
• Hispanic origin (detail): Mexican 11%
• Common ancestry: Lithuanian 4% Romanian 3% Iranian 2%
• Foreign-born: 6% · Canada, Philippines
• Languages at home: 88% English-only · Spanish 10% Other Asian/Pacific 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: ▼ -104.51%
• Current HPI: 243.5691
• Rent YoY: ▲ 1.76%
• 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

-4.2% since first listed

6 events — show timeline

• 2026-04-23 Relisted — IRMLS
• 2026-04-23 Pending — IRMLS
• 2026-04-21 Relisted — IRMLS
• 2026-04-21 Price Changed $115,000 IRMLS
• 2026-04-04 Pending — IRMLS
• 2026-03-01 Listed $120,000 IRMLS

Property tax history

+11.1%/yr

Latest (2024): $2,325 · +160.8% YoY. Source: county tax records.