2330 Vance Ave · Fort Wayne, IN 46805

$145,000

3 bd · 1.0 ba · 1,290 sqft · SingleFamily public records · 45 Days on market

Built 1955 4,356 sqft lot $112/sqft · 10% below area Est $161k · 10% 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 +16.9/30.0
• ARV discount +11.9/15.0
• DSCR +5.3/10.0
• 1% rule +4.8/10.0
• Livability +4.2/5.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Ready to move into or a great rental property to own in a popular location! New carpeting and paint throughout this home with a large living area, conveniently located kitchen and laundry area, and bathroom next to the three decent sized bedrooms. The garage is oversized with easy alley access, automatic garage door opener, and a built in work bench ready for your projects. Get your showing scheduled today as this one will go quickly!

Key facts

• 4,356 sq ft lot
• 2 garage spots
• Built 1955

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $96 ($1k/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 $142k (2.2% below list).
• Recommended offer: $141k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.1% 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 flat; 108 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 14d 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 33% of the median local income ($52k/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 $4k 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 45 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• 2 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 $43k; list at $145k implies a 237% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $140,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 45 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 1955 — 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: 0.98% ✗
• Cap rate: 7.09%
• Cash-on-cash: 2.84%
• DSCR: 1.13
• GRM: 8.5

CMA / ARV

• ARV (median comp): $160,703
• List price: $145,000
• Delta: -9.77%
• 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
2403 Kenwood Ave	0.09mi	3/1.5	1,352 (+5%)	1mo	$190,000	$141	85
2102 Glenwood Ave	0.17mi	2/1.0 (-1)	1,346 (+4%)	4mo	$200,000	$149	77
2315 Kenwood Ave	0.09mi	3/2.0	1,450 (+12%)	3mo	$147,500	$102	68
2707 Dodge Ave	0.41mi	3/2.0	1,179 (-9%)	1mo	$161,500	$137	62
3334 River Forest Dr	0.62mi	3/1.5	1,363 (+6%)	1mo	$245,500	$180	59
2316 Kensington Blvd	0.52mi	3/1.0	1,406 (+9%)	3mo	$205,000	$146	58
2426 White Oak Ave	0.71mi	3/1.5	1,352 (+5%)	1mo	$200,000	$148	56
2610 Florida Dr	0.62mi	3/2.0	1,360 (+5%)	5mo	$225,300	$166	54
3410 Charlotte Ave	0.70mi	4/2.0 (+1)	1,320 (+2%)	2mo	$185,000	$140	53
2915 Dodge Ave	0.49mi	3/1.0	1,107 (-14%)	3mo	$122,000	$110	51
2603 Crescent Ave	0.73mi	3/1.0	1,144 (-11%)	1mo	$134,900	$118	46
2714 Barnhart Ave	0.75mi	3/2.0	1,107 (-14%)	5mo	$187,000	$169	34

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 · 0.75% rent growth · sell at horizon

5-year hold

• IRR: -14.4%
• Equity multiple: 0.50×
• Total profit: $-20,485
• Equity at exit: $21,620

10-year hold

• IRR: -9.9%
• Equity multiple: 0.45×
• Total profit: $-22,135
• Equity at exit: $12,537

Cash invested: $40,600 (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 46805

• Rents YoY: 0.8%
• Active inventory: 108
• Price-to-rent: 8.5×

Monthly cashflow live

• Estimated rent: $1,418 high
• Mortgage (P&I): −$760
• Tax from tax record: −$203 /mo · $2,437/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $96

Break-even live

Break-even rent $1,296

Max offer price $145,000

Occupancy floor 88%

Sensitivity live

Price	-10% $178	-5% $137	+0% $96	+5% $55	+10% $14
Rent	-10% $-16	-5% $40	+0% $96	+5% $152	+10% $208
Rate	-1.0pp $169	-0.5pp $133	base $96	+0.5pp $58	+1.0pp $20

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1911 Hazelwood Ave Fort Wayne, IN	1.0–3.0	1.0–2.5	910	$1,375	$1.51	21d	3	0.25mi
2508 Woodward Ave Fort Wayne, IN	3.0	1.0	1300	$1,700	$1.31	14d	1	0.34mi
1311 Ferguson Ave Fort Wayne, IN	2.0	2.0	1400	$1,700	$1.21	14d	1	0.69mi
2020 Hobson Rd Fort Wayne, IN	2.0–4.0	1.0–2.0	1340	$1,135	$0.85	14d	7	0.82mi
2510 Farnsworth Dr Fort Wayne, IN	1.0–2.0	1.0–1.5	792	$1,100	$1.39	14d	1	1.07mi
1035 Ridgewood Dr Fort Wayne, IN	1.0–3.0	1.0–1.5	906	$1,450	$1.60	14d	33	1.08mi
1838 Kentucky Ave Fort Wayne, IN	2.0	1.0	884	$975	$1.10	44d	1	1.11mi
1726 Tecumseh St Fort Wayne, IN	3.0	1.0	1280	$1,350	$1.05	14d	1	1.22mi
607 Curdes Ave Fort Wayne, IN	3.0	1.5	1072	$1,450	$1.35	21d	1	1.24mi
1516 Bayer Ave Fort Wayne, IN	4.0	2.0	1280	$1,299	$1.01	14d	1	1.34mi
2727 Canterbury Blvd Fort Wayne, IN	1.0–3.0	1.0–2.5	1204	$2,000	$1.66	14d	394	1.40mi
1206 Columbia Ave Unit 2 Fort Wayne, IN	2.0	2.0	1118	$995	$0.89	44d	1	1.44mi

Listing history 12 events

1. 2026-06-16
   statusdays on market $145,000 Pending 45 DOM
2. 2026-06-15
   days on market $145,000 Active 44 DOM
3. 2026-06-14
   remarks 510-char remark
4. 2026-06-14
   status $145,000 Active 42 DOM
5. 2026-06-03
   status $145,000 Pending 42 DOM
6. 2026-06-02
   days on market $145,000 Active 42 DOM
7. 2026-06-01
   days on market $145,000 Active 41 DOM
8. 2026-05-31
   days on market $145,000 Active 40 DOM
9. 2026-05-30
   days on market $145,000 Active 39 DOM
10. 2026-04-21
    listed $149,900 Active 439-char remark

    Show marketing remark (439 chars)

    Ready to move into or a great rental property to own in a popular location! New carpeting and paint throughout this home with a large living area, conveniently located kitchen and laundry area, and bathroom next to the three decent sized bedrooms. The garage is oversized with easy alley access, automatic garage door opener, and a built in work bench ready for your projects. Get your showing scheduled today as this one will go quickly!

11. 2016-09-01
    soldstatus $43,000 363-char remark

    Show marketing remark (363 chars)

    Great three Bedroom Ranch that is ready to move into! New Carpet, electrical wiring and electrical box, new oven, tear off roof less than 8 years old. Lots of storage. Brand New hot water heater. Over sized garage. Lots of perennial flower gardens. Large laundry room. All appliances included. Great location. Remove window air conditioner remains with the home.

12. 2015-11-03
    listed $49,900 363-char remark

    Show marketing remark (363 chars)

    Great three Bedroom Ranch that is ready to move into! New Carpet, electrical wiring and electrical box, new oven, tear off roof less than 8 years old. Lots of storage. Brand New hot water heater. Over sized garage. Lots of perennial flower gardens. Large laundry room. All appliances included. Great location. Remove window air conditioner remains with the home.

ⓘ 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: $2,437 · $203/mo
• Projected year-2 tax: $2,437 · $203/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 · 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: $17,011
• − Mortgage interest: −$8,122
• − Property taxes: −$2,437
• − Insurance: −$725
• − Repairs & maintenance: −$1,361
• − Management: −$1,361
• − Depreciation: −$4,218
• Taxable loss: −$1,213
• Est. tax savings @ 24.0%: +$291
• After-tax cash flow: $1,443/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): 21,437
• Household income: $52,154
• Rent vs Own: 42.6% rent · 57.4% own
• Severe rent burden: 904.0

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 (72%)
• Race & ethnicity: White 72% Black 9% Two or more races 8% Hispanic / Latino 7% Asian 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 3% Slovak 3% Italian 2%
• Foreign-born: 6% · Philippines, Canada
• Languages at home: 91% English-only · Other Asian/Pacific 3% Spanish 3%

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: ▼ -356.64%
• Current HPI: 286.2643
• Rent YoY: ▲ 0.75%
• 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

+200.4% since first listed

3 events — show timeline

• 2026-04-21 Listed $149,900 IRMLS
• 2016-09-01 Sold (MLS) $43,000 IRMLS
• 2015-11-03 Listed $49,900 IRMLS

Property tax history

+16.6%/yr

Latest (2024): $2,437 · +30.6% YoY. Source: county tax records.