6319 Revere Pl · Fort Wayne, IN 46835

$174,400

3 bd · 1.0 ba · 1,040 sqft · SingleFamily public records · 11 Days on market

Built 1960 0.45 ac lot Est $189k · 8% under

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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 +19.0/30.0
• ARV discount +11.0/15.0
• DSCR +6.0/10.0
• Rent growth +4.7/5.0
• Livability +4.2/5.0
• 1% rule +4.1/10.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Desirable Ranch style home in the '35 - Priced to sell featuring 3BR/1BA - Newer GFA/CA & Tankless water heater - Huge wooded back yard with 6' privacy fence - Dimensional shingles - Vinyl Siding with basically maintenance free exterior - Oversized 1 car attached garage - Spacious concrete driveway - Dead end street with low traffic - Interior needs work. Taxes may change based on exemptions or lack thereof. Show and sell today. Hurry, this is priced to sell and will go quick. Sold as-is.

Key facts

• Newer gfa/ca
• Ranch style home
• Dimensional shingles

Tags

• RANCH STYLE HOME
• NEWER GFA/CA
• TANKLESS WATER HEATER
• HUGE WOODED BACK YARD
• 6 PRIVACY FENCE
• DIMENSIONAL SHINGLES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $174k.

Deal economics

• At list price, monthly cash flow is $182 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $159k (9.1% below list).
• Recommended offer: $159k (9.1% below list) — sets the bar for 1% rule.
• Cap rate 7.5% 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: Saint Joseph Central School (math 37% / reading 29%, grade F, #639 of 994 statewide, top 65%, 397 students, 48% 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: Rents rising fast (+8.9%/yr); 180 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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).

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 ~10 years — after that, you're playing with house money.

Negotiation context

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 12y 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.

Recommended offer $158,579 (9.1% below list)

Questions for the listing agent

1. Built in 1960 — 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. 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.
5. 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.
6. 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: 0.91% ✗
• Cap rate: 7.55%
• Cash-on-cash: 4.47%
• DSCR: 1.20
• GRM: 9.2

CMA / ARV

• ARV (on-the-fly): $189,280
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6132 Revere Pl	0.11mi	3/2.0	1,092 (+5%)	19mo	$175,000	$160	67
5928 Brandonwood Ln	0.67mi	3/1.5	1,008 (-3%)	9mo	$185,000	$184	54
8012 Cooper Point Run	0.59mi	3/2.0	1,155 (+11%)	11mo	$210,000	$182	41
6211 Brandonwood Ln	0.68mi	3/2.0	1,196 (+15%)	4mo	$58,000	$48	36

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: -4.4%
• Equity multiple: 0.83×
• Total profit: $-8,349
• Equity at exit: $26,004

10-year hold

• IRR: 10.0%
• Equity multiple: 1.93×
• Total profit: $45,558
• Equity at exit: $15,079

Cash invested: $48,832 (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 46835

• Rents YoY: 8.9%
• Active inventory: 180
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $1,586 high
• Mortgage (P&I): −$915
• Tax from tax record: −$84 /mo · $1,003/yr
• Insurance: −$73
• HOA: −$0
• Vacancy / Maint / Mgmt: −$333
• Net cashflow: $182

Break-even live

Break-even rent $1,355

Max offer price $174,400

Occupancy floor 84%

Sensitivity live

Price	-10% $281	-5% $231	+0% $182	+5% $133	+10% $83
Rent	-10% $57	-5% $119	+0% $182	+5% $245	+10% $307
Rate	-1.0pp $270	-0.5pp $226	base $182	+0.5pp $137	+1.0pp $91

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: $43,600
• Closing costs: $5,232
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5450 Kinzie Ct Fort Wayne, IN	2.0	2.0	1294	$1,992	$1.54	14d	2	0.76mi
6031 Evard Rd Fort Wayne, IN	2.0	2.0	1200	$1,600	$1.33	22d	1	0.77mi
6031 Evard Rd Fort Wayne, IN	2.0	2.0	1200	$1,600	$1.33	45d	4	0.77mi
6835 Solid Rock Dr Fort Wayne, IN	2.0	2.0	1200	$1,600	$1.33	15d	1	0.77mi
5438 Evard Rd Fort Wayne, IN	2.0	1.5	918	$1,249	$1.36	22d	1	1.09mi

Listing history 11 events

1. 2026-04-10
   status Pending
2. 2026-03-30
   listed $174,400 Active
3. 2026-03-15
   listed $174,400 Active
4. 2026-03-05
   price $174,400
5. 2026-03-03
   listed $164,500 Active
6. 2023-02-06
   soldstatus $163,900 Closed
7. 2023-01-21
   status Pending
8. 2023-01-20
   listed $164,900 Active
9. 2015-06-04
   soldstatus $67,000
10. 2015-03-11
    listed $72,500
11. 2014-08-05
    listed $69,750

ⓘ 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: $1,003 · $84/mo
• Projected year-2 tax: $1,243 · $104/mo
• Expected delta: +$240/yr (+$20/mo · 23.9%)

ⓘ 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 · 16 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: $19,029
• − Mortgage interest: −$9,769
• − Property taxes: −$1,003
• − Insurance: −$872
• − Repairs & maintenance: −$1,522
• − Management: −$1,522
• − Depreciation: −$5,073
• Taxable loss: −$733
• Est. tax savings @ 24.0%: +$176
• After-tax cash flow: $2,359/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): 38,166
• Household income: $77,152
• Rent vs Own: 26.0% rent · 74.0% own
• Severe rent burden: 961.0

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 (77%)
• Race & ethnicity: White 77% Two or more races 10% Hispanic / Latino 8% Black 6% Asian 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 3% Lithuanian 3% Romanian 2%
• Foreign-born: 6% · Canada, Vietnam, Philippines
• Languages at home: 91% English-only · Spanish 3% Other Asian/Pacific 2% Other Indo-European 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: ▼ -236.62%
• Current HPI: 236.3419
• Rent YoY: ▲ 8.95%
• 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

+150.0% since first listed

11 events — show timeline

• 2026-04-10 Pending — IRMLS
• 2026-03-30 Listed $174,400 IRMLS
• 2026-03-15 Listed $174,400 IRMLS
• 2026-03-05 Price Changed $174,400 IRMLS
• 2026-03-03 Listed $164,500 IRMLS
• 2023-02-06 Sold (MLS) $163,900 IRMLS
• 2023-01-21 Pending — IRMLS
• 2023-01-20 Listed $164,900 IRMLS
• 2015-06-04 Sold (MLS) $67,000 IRMLS
• 2015-03-11 Listed $72,500 IRMLS
• 2014-08-05 Listed $69,750 IRMLS

Property tax history

+6.1%/yr

Latest (2024): $1,003 · +16.7% YoY. Source: county tax records.