1420 N Harrison St · Fort Wayne, IN 46808

$159,000

4 bd · 1.5 ba · 1,848 sqft · SingleFamily public records · 91 Days on market

Built 1920 3,049 sqft lot $86/sqft · 20% above area Est $133k · 20% over

---

Why this score? — see what drove the D+ 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 +7.5/10.0
• 1% rule +5.6/10.0
• Rent growth +4.2/5.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Located in the core of the Riverfront redevelopment zone, this property presents a prime opportunity to invest in an area experiencing rapid transformation. With continued infrastructure improvements, nearby amenities, and increasing demand, this is your chance to get in early and benefit from the growth ahead.

Key facts

• 3,049 sq ft lot
• Built 1920
• Listed 91 days

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $159k.

Deal economics

• At list price, monthly cash flow is $296 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $159k).
• Recommended offer: $145k (9.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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-, 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 fast (+7.0%/yr); 87 active listings in the ZIP; 15 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,861 units permitted in Allen County in 2024 (576 in 5+ unit buildings).
• This rent runs 38% of the median local income ($53k/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 $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 + 7.0% rent growth), your $45k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 91 days — a 9% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y 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 $40k; list at $159k implies a 298% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $144,690 (9.0% below list)

Questions for the listing agent

1. It's been on market 91 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 1920 — 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. 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?
7. 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.
8. 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.
9. 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: 1.06% ✓
• Cap rate: 8.53%
• Cash-on-cash: 7.97%
• DSCR: 1.35
• GRM: 7.9

CMA / ARV

• ARV (median comp): $132,884
• List price: $159,000
• Delta: 19.65%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
739 W 4th St	0.47mi	4/2.0	1,750 (-5%)	4mo	$195,000	$111	64
623 Prospect Ave	0.55mi	3/1.5 (-1)	1,824 (-1%)	8mo	$178,500	$98	61
1519 Andrew St	0.49mi	3/1.5 (-1)	1,770 (-4%)	7mo	$99,000	$56	59
825 Putnam St	0.60mi	3/2.0 (-1)	1,800 (-3%)	4mo	$178,200	$99	58
522 Archer Ave	0.45mi	4/2.0	1,668 (-10%)	7mo	$195,000	$117	55
666 Huffman St	0.44mi	3/1.0 (-1)	1,742 (-6%)	10mo	$148,000	$85	55
1143 Saint Marys Ave	0.69mi	4/1.5	2,000 (+8%)	6mo	$199,500	$100	49
1511 Oakland St	0.61mi	3/1.5 (-1)	1,668 (-10%)	3mo	$152,000	$91	48
1134 Saint Joe Blvd	0.74mi	3/2.0 (-1)	1,800 (-3%)	9mo	$192,900	$107	46
705 Riverside Ave	0.65mi	4/1.0	1,600 (-13%)	1mo	$169,500	$106	45
705 Lawton Pl	0.68mi	3/1.5 (-1)	1,577 (-15%)	5mo	$179,900	$114	34
1512 Franklin Ave	0.73mi	3/2.0 (-1)	1,640 (-11%)	9mo	$146,000	$89	33

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 · 6.98% rent growth · sell at horizon

5-year hold

• IRR: 0.0%
• Equity multiple: 1.00×
• Total profit: $68
• Equity at exit: $23,707

10-year hold

• IRR: 13.3%
• Equity multiple: 2.25×
• Total profit: $55,477
• Equity at exit: $13,747

Cash invested: $44,520 (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 46808

• Rents YoY: 7.0%
• Active inventory: 87
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,683 high
• Mortgage (P&I): −$834
• Tax from tax record: −$134 /mo · $1,603/yr
• Insurance: −$66
• HOA: −$0
• Vacancy / Maint / Mgmt: −$353
• Net cashflow: $296

Break-even live

Break-even rent $1,308

Max offer price $159,000

Occupancy floor 77%

Sensitivity live

Price	-10% $386	-5% $341	+0% $296	+5% $251	+10% $206
Rent	-10% $163	-5% $229	+0% $296	+5% $362	+10% $429
Rate	-1.0pp $376	-0.5pp $336	base $296	+0.5pp $255	+1.0pp $213

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: $39,750
• Closing costs: $4,770
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
739 W 4th St Fort Wayne, IN	4.0	2.0	1750	$1,995	$1.14	14d	1	0.48mi
702 Archer Ave Fort Wayne, IN	3.0	1.5	1273	$1,499	$1.18	45d	1	0.58mi
2315 Terrace Rd Fort Wayne, IN	3.0	1.0	1466	$1,600	$1.09	44d	1	0.72mi
2403 N Clinton St Fort Wayne, IN	3.0	2.0	1666	$1,750	$1.05	44d	1	0.75mi
1516 Bayer Ave Fort Wayne, IN	4.0	2.0	1280	$1,299	$1.01	14d	1	0.88mi
1502 3rd St Fort Wayne, IN	3.0	1.5	1344	$1,650	$1.23	14d	1	0.93mi
1726 Tecumseh St Fort Wayne, IN	3.0	1.0	1280	$1,350	$1.05	14d	1	0.96mi
603 Lavina St Fort Wayne, IN	3.0	2.0	1872	$1,899	$1.01	44d	1	1.01mi
1132 S Hanna St Unit 1 Fort Wayne, IN	4.0	1.5	1656	$1,600	$0.97	44d	1	1.02mi
877 Lavina St Fort Wayne, IN	1.0–3.0	1.0–2.0	997	$2,980	$2.99	44d	17	1.05mi
1118 Rockhill St Fort Wayne, IN	3.0	3.0	1790	$2,300	$1.28	44d	1	1.06mi
1721 3rd St Fort Wayne, IN	3.0	1.0	1584	$1,195	$0.75	44d	1	1.16mi
1131 E Lewis St Fort Wayne, IN	4.0	2.0	1476	$1,950	$1.32	14d	1	1.32mi
1104 Stophlet St Fort Wayne, IN	3.0	1.5	1288	$1,400	$1.09	14d	1	1.35mi
2118 Webster St Fort Wayne, IN	4.0	1.0	2200	$1,175	$0.53	44d	1	1.47mi

Listing history 20 events

1. 2026-06-18
   days on market $159,000 Active 91 DOM
2. 2026-06-17
   days on market $159,000 Active 90 DOM
3. 2026-06-16
   days on market $159,000 Active 89 DOM
4. 2026-06-15
   days on market $159,000 Active 88 DOM
5. 2026-06-14
   days on market $159,000 Active 86 DOM
6. 2026-06-10
   days on market $159,000 Active 83 DOM
7. 2026-06-09
   days on market $159,000 Active 82 DOM
8. 2026-06-08
   days on market $159,000 Active 81 DOM
9. 2026-06-07
   days on market $159,000 Active 80 DOM
10. 2026-06-03
    days on market $159,000 Active 76 DOM
11. 2026-06-02
    days on market $159,000 Active 75 DOM
12. 2026-06-01
    days on market $159,000 Active 74 DOM
13. 2026-05-31
    days on market $159,000 Active 73 DOM
14. 2026-05-30
    days on market $159,000 Active 72 DOM
15. 2026-03-19
    listed $159,000 Active 312-char remark

    Show marketing remark (312 chars)

    Located in the core of the Riverfront redevelopment zone, this property presents a prime opportunity to invest in an area experiencing rapid transformation. With continued infrastructure improvements, nearby amenities, and increasing demand, this is your chance to get in early and benefit from the growth ahead.

16. 2019-12-02
    soldstatus $40,000
17. 2019-08-16
    listed $49,900
18. 2018-08-06
    listed $54,900
19. 2015-06-25
    listed $49,900
20. 2015-02-05
    soldstatus $25,000

ⓘ 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: $1,603 · $134/mo
• Projected year-2 tax: $1,603 · $134/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 · 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: $20,193
• − Mortgage interest: −$8,906
• − Property taxes: −$1,603
• − Insurance: −$795
• − Repairs & maintenance: −$1,615
• − Management: −$1,615
• − Depreciation: −$4,625
• Taxable income: $1,033
• Est. tax owed @ 24.0%: −$248
• After-tax cash flow: $3,302/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): 19,684
• Household income: $53,359
• Rent vs Own: 39.4% rent · 60.6% own
• Severe rent burden: 625.0

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 (71%)
• Race & ethnicity: White 71% Hispanic / Latino 13% Two or more races 9% Black 9% Asian 2%
• Hispanic origin (detail): Mexican 10% Puerto Rican 2%
• Common ancestry: Romanian 3% Lithuanian 2% Slovak 2%
• Foreign-born: 7% · Canada, Philippines, South Korea
• Languages at home: 86% English-only · Spanish 10% Korean 2% 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: ▼ -288.51%
• Current HPI: 239.6115
• Rent YoY: ▲ 6.98%
• 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

+536.0% since first listed

6 events — show timeline

• 2026-03-19 Listed $159,000 IRMLS
• 2019-12-02 Sold (MLS) $40,000 IRMLS
• 2019-08-16 Listed $49,900 IRMLS
• 2018-08-06 Listed $54,900 IRMLS
• 2015-06-25 Listed $49,900 IRMLS
• 2015-02-05 Sold (Public Records) $25,000 Public Records

Property tax history

+19.7%/yr

Latest (2024): $1,603 · +0.4% YoY. Source: county tax records.