5704 S Calhoun St · Fort Wayne, IN 46807

$169,900

3 bd · 1.0 ba · 1,296 sqft · SingleFamily public records · 3 Days on market

Built 1930 4,550 sqft lot Est $161k · 6% over

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Why this score? — see what drove the F 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 +10.6/30.0
• ARV discount +4.9/15.0
• Rent growth +4.6/5.0
• Livability +4.2/5.0
• DSCR +3.1/10.0
• Condition / age +2.5/5.0
• 1% rule +2.4/10.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

* * * Very nice, completely UPDATED, AFFORDABLE house with PARTIALLY FINISHED BASEMENT. 3-4 BEDROOMS, ONE AND HALF BATHROOMS. OVER $55,000 were spent to completely renovate this house: NEW ARCHITECTURAL ROOF SHINGLES, NEW WINDOWS, NEW BATHROOMS FIXTURES, NEW KITCHEN CABINETS, STAINLESS STEEL APPLIANCES, NEW KITCHEN CABINETS, LIGHT FIXTURES, FLOORING, GARAGE DOORS. .. LISTING AGENT IS RELATED TO THE SELLER, AND HAS THE FINANCIAL INTEREST. Buyers/Buyers Agent to verify the school system and rooms measurements. The Washer and Dryer are not warranted, the rest of the appliances ARE NEW, have the MANUFACTURER WARRANTIES FOR 12 MONTHS.

Key facts

• Renovated
• Appliances
• Light fixtures

Tags

• RENOVATED
• UPDATED FLOORING
• LIGHT FIXTURES
• APPLIANCES
• ROOF REPLACED
• PARTIALLY FINISHED BASEMENT

Property features AI

Finance

• Other: Tax amount not included per instructions
• Financial info: Financial details not provided
• HOA & community: HOA information not provided

Exterior

• Parking: Detached garage with 1 garage space
• Security: Security details not provided
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); One story
• Construction: Aluminum siding and other exterior materials; Construction year not provided
• Exterior features: Irregular lot; Lot dimensions approximately 35 x 130

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Gas range
• Bedrooms: Bedrooms not specifically listed
• Flooring: Flooring details not provided
• Bathrooms: 1 full bathroom; 1 half bathroom; Main level has 1 bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Dishwasher, Microwave, Refrigerator, Gas Range; Full basement, partially finished; Total of 5 rooms
• Laundry & utility: Washer hookup; Gas dryer hookup; Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $-84 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $155k (8.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $126k (26.1% below list).
• Recommended offer: $126k (26.1% below list) — sets the bar for 1% rule.
• Cap rate 5.7% vs local median 4.8% in Fort Wayne — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Harrison Hill Elementary School (math 21% / reading 18%, grade F, #814 of 994 statewide, top 83%, 618 students, 76% FRL); Kekionga Middle School (math 10% / reading 17%, grade F, #303 of 330 statewide, top 92%, 538 students, 80% 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 77% FRL vs 60% district-wide (16 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+8.2%/yr); 94 active listings in the ZIP; 16 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 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.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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.
• Current owner paid $135k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,519 (26.1% 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. Built in 1930 — 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. 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?
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: 0.74% ✗
• Cap rate: 5.70%
• Cash-on-cash: -2.11%
• DSCR: 0.91
• GRM: 11.3

CMA / ARV

• ARV (on-the-fly): $160,704
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
5922 Southcrest Rd	0.17mi	3/1.0	1,360 (+5%)	4mo	$120,000	$88	81
116 Burns Blvd	0.16mi	3/1.0	1,134 (-12%)	1mo	$87,500	$77	71
6030 Oakmont Rd	0.25mi	3/1.5	1,140 (-12%)	6mo	$103,000	$90	62
5222 Fairfield Ave	0.45mi	2/2.0 (-1)	1,252 (-3%)	5mo	$155,800	$124	60
4643 Calumet Ave	0.65mi	3/1.0	1,275 (-2%)	10mo	$159,900	$125	59
4545 Calumet Ave	0.71mi	3/1.0	1,260 (-3%)	7mo	$70,000	$56	56
6411 Bristol Rd	0.51mi	3/1.0	1,147 (-12%)	2mo	$171,900	$150	55
601 W Pettit Ave	0.65mi	3/1.5	1,208 (-7%)	6mo	$227,000	$188	52
222 E Concord Ln	0.48mi	3/1.0	1,125 (-13%)	10mo	$155,000	$138	48
4707 S Calhoun St	0.60mi	3/2.0	1,456 (+12%)	2mo	$200,000	$137	46
6708 S Calhoun St	0.75mi	3/1.0	1,110 (-14%)	0mo	$130,000	$117	41
4711 S Monroe St	0.74mi	4/2.0 (+1)	1,373 (+6%)	11mo	$170,000	$124	38

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: -14.8%
• Equity multiple: 0.45×
• Total profit: $-26,269
• Equity at exit: $25,333

10-year hold

• IRR: 0.1%
• Equity multiple: 1.01×
• Total profit: $284
• Equity at exit: $14,690

Cash invested: $47,572 (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 46807

• Rents YoY: 8.2%
• Active inventory: 94
• Price-to-rent: 11.3×

Monthly cashflow live

• Estimated rent: $1,255 high
• Mortgage (P&I): −$891
• Tax from tax record: −$114 /mo · $1,362/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $-84

Break-even live

Break-even rent $1,361

Max offer price $155,118

Occupancy floor —

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6033 S Calhoun St Fort Wayne, IN	3.0	1.0	1042	$1,220	$1.17	21d	1	0.22mi
700 Candlelite Ct Fort Wayne, IN	2.0–3.0	1.0–2.5	1388	$1,399	$1.01	13d	4	0.40mi
5009 Hoagland Ave Fort Wayne, IN	2.0	1.0	1000	$1,300	$1.30	43d	1	0.42mi
522 Pinegrove Ln Fort Wayne, IN	2.0–3.0	1.0–1.5	1248	$1,259	$1.01	13d	8	0.46mi
6440 Fairfield Ave Fort Wayne, IN	1.0–2.0	1.0–1.5	928	$1,344	$1.45	13d	10	0.52mi
1003 Pointe Center Cv Unit 1003 Fort Wayne, IN	2.0	1.5	1200	$1,275	$1.06	44d	1	0.82mi
220 E Hoover Dr Fort Wayne, IN	2.0–3.0	1.5	1150	$1,259	$1.09	13d	5	0.84mi
4133 Lafayette St Fort Wayne, IN	4.0	2.0	1640	$1,400	$0.85	21d	1	1.08mi
4405 S Park Dr Fort Wayne, IN	2.0	1.0	1440	$1,175	$0.82	13d	1	1.10mi
4201 S Wayne Ave Fort Wayne, IN	3.0	1.5	1252	$1,400	$1.12	21d	1	1.10mi
3801 Lafayette St Fort Wayne, IN	2.0	1.0	1116	$995	$0.89	13d	1	1.32mi
1730 Scotsdale Dr Fort Wayne, IN	3.0	1.0	1192	$1,125	$0.94	13d	1	1.37mi
4014 Oliver St Fort Wayne, IN	3.0	1.0	936	$1,050	$1.12	13d	1	1.41mi
4705 S Anthony Blvd Fort Wayne, IN	3.0	1.0	1110	$1,050	$0.95	13d	1	1.44mi
3510 S Harrison St Fort Wayne, IN	3.0	1.0	1248	$975	$0.78	13d	1	1.46mi
227 W Darrow Ave Fort Wayne, IN	3.0	1.0	995	$1,000	$1.01	43d	1	1.47mi

Listing history 5 events

1. 2026-06-10
   status $169,900 Pending 3 DOM
2. 2026-06-09
   days on market $169,900 Active 3 DOM
3. 2026-06-08
   days on market $169,900 Active 2 DOM
4. 2026-06-07
   remarks 628-char remark
5. 2026-06-07
   listed $169,900 Active 1 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: $1,362 · $114/mo
• Projected year-2 tax: $1,403 · $117/mo
• Expected delta: +$41/yr (+$3/mo · 3.0%)

ⓘ 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: $15,062
• − Mortgage interest: −$9,517
• − Property taxes: −$1,362
• − Insurance: −$850
• − Repairs & maintenance: −$1,205
• − Management: −$1,205
• − Depreciation: −$4,943
• Taxable loss: −$4,019
• Est. tax savings @ 24.0%: +$965
• After-tax cash flow: $-40/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): 16,317
• Household income: $58,685
• Rent vs Own: 39.7% rent · 60.3% own
• Severe rent burden: 680.0

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 0.66)
• Race & ethnicity: White 54% Two or more races 19% Hispanic / Latino 16% Black 14% Asian 4%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Slovak 3% Lithuanian 3% Romanian 2%
• Foreign-born: 9% · Canada, Philippines, Jamaica
• Languages at home: 82% English-only · Spanish 13% Other Asian/Pacific 4% German/W. Germanic 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: ▼ -318.66%
• Current HPI: 272.6238
• Rent YoY: ▲ 8.24%
• 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

+25.9% since first listed

3 events — show timeline

• 2026-06-06 Listed $169,900 IRMLS
• 2021-09-10 Sold (MLS) $135,000 IRMLS
• 2021-07-14 Listed $135,000 IRMLS

Property tax history

+4.1%/yr

Latest (2024): $1,362 · +11.4% YoY. Source: county tax records.