462 E Suttenfield St · Fort Wayne, IN 46803

$102,000

3 bd · 1.0 ba · 1,440 sqft · SingleFamily public records · 34 Days on market

Built 1915 2,347 sqft lot $71/sqft · 6% below area Est $127k · 20% under ↓ 6% since listing

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Why this score? — see what drove the A- 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 +27.2/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +9.4/10.0
• 1% rule +7.2/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks

Conveniently located near downtown, this duplex presents an incredible opportunity for investors, flippers, or owner-occupants looking to build equity and customize a property from the ground up. The owner has already taken the property all the way down to the studs, giving you a clean slate to design and finish exactly how you envision. With the major demolition already completed, you can move directly into rebuilding and installing all new electrical, plumbing, HVAC, windows, finishes, and other updates to create a modern income-producing property. Basement walls are solid, and the property offers strong upside potential for the right buyer. Plans and blueprints are available to help guid

Key facts

• Solid basement walls
• 2,347 sq ft lot
• Built 1915

Tags

• MAJOR DEMOLITION COMPLETED
• SOLID BASEMENT WALLS
• STRONG UPSIDE POTENTIAL
• PLANS AND BLUEPRINTS AVAILABLE
• FLEXIBILITY TO CUSTOMIZE

Property features AI

Finance

• Other: Pets allowed

Exterior

• Utilities: Public water; Public sewer
• Home design: Duplex residential income property; 3 stories
• Construction: Wood siding
• Exterior features: Front porch; Level lot

Interior

• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms; 4 main-level bathrooms
• Heating & cooling: Forced air heating; Natural gas
• Interior features: Carpet and vinyl flooring; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $102k.

Deal economics

• At list price, monthly cash flow is $290 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $102k).
• Recommended offer: $99k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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: Fairfield Elementary School (math 13% / reading 15%, grade F, #874 of 994 statewide, top 89%, 460 students, 88% FRL); Shawnee Middle School (math 11% / reading 22%, grade F, #287 of 330 statewide, top 88%, 675 students, 65% FRL); South Side High School (math 12% / reading 39%, grade F, #322 of 369 statewide, top 87%, 1,423 students, 73% FRL) — zoned schools average 75% FRL vs 60% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• 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).
• This rent runs 44% of the median local income ($34k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $11k of equity ($705 loan paydown + $10k 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 $29k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$39k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 34 days — a 3% lower offer ($99k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $7k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,940 (3.0% below list)

Questions for the listing agent

1. It's been on market 34 days. Have you received any prior offers? Is the seller open to a 3% 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. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
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: 1.22% ✓
• Cap rate: 9.71%
• Cash-on-cash: 12.20%
• DSCR: 1.54
• GRM: 6.8

CMA / ARV

• ARV (median comp): $127,294
• List price: $102,000
• Delta: -19.87%
• Verdict: UNDERPRICED
• Comps: 18 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
416 E Creighton Ave	0.17mi	3/2.0	1,512 (+5%)	2mo	$62,500	$41	78
445 E Wildwood Ave	0.34mi	3/1.0	1,352 (-6%)	1mo	$135,000	$100	74
1024 Eckart St	0.56mi	3/1.5	1,421 (-1%)	2mo	$81,000	$57	68
314 W Wildwood Ave	0.63mi	3/1.5	1,392 (-3%)	3mo	$156,500	$112	61
3017 S Clinton St	0.39mi	4/2.0 (+1)	1,560 (+8%)	2mo	$180,000	$115	57
344 W Dewald St	0.66mi	3/1.5	1,500 (+4%)	5mo	$160,000	$107	56
3314 Webster St	0.71mi	3/1.0	1,534 (+6%)	2mo	$153,000	$100	54
2917 John St	0.39mi	4/2.0 (+1)	1,632 (+13%)	3mo	$55,000	$34	48
526 Lasselle St	0.38mi	4/2.0 (+1)	1,630 (+13%)	4mo	$205,900	$126	48
316 W Creighton Ave	0.58mi	4/2.0 (+1)	1,558 (+8%)	4mo	$190,000	$122	47
3602 Hanna St	0.69mi	3/1.5	1,268 (-12%)	2mo	$120,000	$95	44
2934 Holton Ave	0.68mi	2/1.0 (-1)	1,652 (+15%)	1mo	$151,000	$91	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: 33.2%
• Equity multiple: 3.59×
• Total profit: $74,065
• Equity at exit: $91,890

10-year hold

• IRR: 28.7%
• Equity multiple: 8.13×
• Total profit: $203,587
• Equity at exit: $198,164

Cash invested: $28,560 (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: 6.8×

Monthly cashflow live

• Estimated rent: $1,248 high
• Mortgage (P&I): −$535
• Tax from tax record: −$118 /mo · $1,415/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $290

Break-even live

Break-even rent $880

Max offer price $102,000

Occupancy floor 72%

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: $25,500
• Closing costs: $3,060
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
451 E Pontiac St Fort Wayne, IN	3.0	1.0	1308	$1,050	$0.80	43d	1	0.08mi
2530 Lafayette St Fort Wayne, IN	4.0	1.0	1816	$1,500	$0.83	43d	1	0.13mi
420 E Dewald St Fort Wayne, IN	3.0	1.5	1472	$1,300	$0.88	43d	1	0.23mi
116 E Pontiac St Fort Wayne, IN	3.0	1.5	1400	$1,175	$0.84	21d	1	0.34mi
859 Buchanan St Fort Wayne, IN	1.0–4.0	1.0	887	$1,074	$1.21	21d	1	0.51mi
1024 Colerick St Fort Wayne, IN	4.0	1.0	1388	$1,065	$0.77	21d	1	0.51mi
309 W Leith St Unit 2 Fort Wayne, IN	2.0	1.0	900	$1,000	$1.11	43d	1	0.55mi
3008 Webster St Fort Wayne, IN	3.0	1.0	1344	$1,449	$1.08	21d	1	0.57mi
309 W Williams St Unit 1 Fort Wayne, IN	2.0	1.0	900	$900	$1.00	21d	1	0.64mi
217 W Masterson Ave Fort Wayne, IN	2.0	1.0	1100	$995	$0.90	21d	1	0.66mi
2445 Fairfield Ave Fort Wayne, IN	2.0	1.5	950	$1,150	$1.21	13d	3	0.70mi
3009 Holton Ave Fort Wayne, IN	3.0	1.0	1212	$1,400	$1.16	13d	1	0.74mi
3510 S Harrison St Fort Wayne, IN	3.0	1.0	1248	$975	$0.78	13d	1	0.75mi
227 W Darrow Ave Fort Wayne, IN	3.0	1.0	995	$1,000	$1.01	43d	1	0.76mi
3801 Lafayette St Fort Wayne, IN	2.0	1.0	1116	$995	$0.89	13d	1	0.78mi
1023 Hamilton Ave Fort Wayne, IN	3.0	1.0	1152	$1,075	$0.93	13d	1	0.79mi
2431 Fox Ave Fort Wayne, IN	3.0	1.5	1522	$1,550	$1.02	13d	1	0.92mi
1132 S Hanna St Unit 1 Fort Wayne, IN	4.0	1.5	1656	$1,600	$0.97	43d	1	1.01mi
907 Lincoln Ave Fort Wayne, IN	2.0	1.0	1060	$850	$0.80	13d	1	1.01mi
1131 E Lewis St Fort Wayne, IN	4.0	2.0	1476	$1,950	$1.32	13d	1	1.01mi
4133 Lafayette St Fort Wayne, IN	4.0	2.0	1640	$1,400	$0.85	21d	1	1.02mi
3410 S Anthony Blvd Fort Wayne, IN	3.0	1.0	900	$1,200	$1.33	43d	1	1.04mi
4014 Oliver St Fort Wayne, IN	3.0	1.0	936	$1,050	$1.12	13d	1	1.05mi
919 Madison St Fort Wayne, IN	2.0	1.0	1332	$995	$0.75	43d	1	1.08mi
1250 Ewing St Fort Wayne, IN	2.0	1.0–2.0	980	$2,081	$2.12	21d	24	1.09mi
603 Lavina St Fort Wayne, IN	3.0	2.0	1872	$1,899	$1.01	43d	1	1.11mi
112 W Washington Blvd Fort Wayne, IN	1.0–2.0	1.0–2.0	768	$1,500	$1.95	21d	2	1.16mi
1235 Huestis Ave Unit A Fort Wayne, IN	2.0	1.0	1040	$950	$0.91	43d	1	1.20mi
877 Lavina St Fort Wayne, IN	1.0–3.0	1.0–2.0	997	$2,980	$2.99	43d	17	1.22mi
4405 S Park Dr Fort Wayne, IN	2.0	1.0	1440	$1,175	$0.82	13d	1	1.23mi
1104 Stophlet St Fort Wayne, IN	3.0	1.5	1288	$1,400	$1.09	13d	1	1.24mi
2720 Queen St Fort Wayne, IN	3.0	2.0	1316	$1,395	$1.06	13d	1	1.27mi
2903 Queen St Fort Wayne, IN	3.0	2.0	1460	$1,200	$0.82	43d	1	1.30mi
1342 Guthrie St Fort Wayne, IN	3.0	1.0	1200	$899	$0.75	43d	1	1.31mi
1353 Huestis Ave Fort Wayne, IN	4.0	1.0	1328	$1,300	$0.98	13d	1	1.32mi
1360 Huestis Ave Fort Wayne, IN	3.0	1.0	1056	$1,080	$1.02	13d	1	1.33mi
2430 Thompson Ave Fort Wayne, IN	2.0	1.0	1197	$975	$0.81	13d	1	1.35mi
4201 S Wayne Ave Fort Wayne, IN	3.0	1.5	1252	$1,400	$1.12	21d	1	1.36mi
3201 Dinnen Ave Fort Wayne, IN	2.0	1.0	986	$999	$1.01	13d	1	1.36mi
1118 Rockhill St Fort Wayne, IN	3.0	3.0	1790	$2,300	$1.28	43d	1	1.38mi

Listing history 17 events

1. 2026-06-18
   days on market $102,000 Active 34 DOM
2. 2026-06-17
   days on market $102,000 Active 33 DOM
3. 2026-06-16
   days on market $102,000 Active 32 DOM
4. 2026-06-15
   days on market $102,000 Active 31 DOM
5. 2026-06-14
   days on market $102,000 Active 29 DOM
6. 2026-06-10
   days on market $102,000 Active 26 DOM
7. 2026-06-09
   days on market $102,000 Active 25 DOM
8. 2026-06-08
   days on market $102,000 Active 24 DOM
9. 2026-06-07
   days on market $102,000 Active 23 DOM
10. 2026-06-03
    days on market $102,000 Active 19 DOM
11. 2026-06-02
    days on market $102,000 Active 18 DOM
12. 2026-06-01
    days on market $102,000 Active 17 DOM
13. 2026-05-31
    days on market $102,000 Active 16 DOM
14. 2026-05-30
    pricedays on market $102,000 Active 15 DOM
15. 2026-05-15
    listed $109,000 Active 1343-char remark
16. 2026-05-12
    listed $109,000 Active
17. 2026-05-12
    listed $109,000 Active

ⓘ 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: $1,415 · $118/mo
• Projected year-2 tax: $1,415 · $118/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: $14,974
• − Mortgage interest: −$5,714
• − Property taxes: −$1,415
• − Insurance: −$510
• − Repairs & maintenance: −$1,198
• − Management: −$1,198
• − Depreciation: −$2,967
• Taxable income: $1,972
• Est. tax owed @ 24.0%: −$473
• After-tax cash flow: $3,012/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

-6.4% since first listed

4 events — show timeline

• 2026-05-29 Price Changed $102,000 IRMLS
• 2026-05-15 Listed $109,000 IRMLS
• 2026-05-12 Listed $109,000 IRMLS
• 2026-05-12 Listed $109,000 IRMLS

Property tax history

+21.8%/yr

Latest (2024): $1,415 · +14.8% YoY. Source: county tax records.