3112 Pittsburg St · Fort Wayne, IN 46803

$90,000

3 bd · 2.0 ba · 1,554 sqft · SingleFamily public records · 13 Days on market

Built 1930 6,098 sqft lot Est $132k · 32% under

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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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• Appreciation +10.0/10.0
• 1% rule +8.9/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks

PUBLIC AUCTION: TUESDAY, JUNE 30TH, 6:00 PM EASTERN | OPEN HOUSES: MONDAY, JUNE 22ND & MONDAY, JUNE 29TH, 5:00 - 6:30 PM EASTERN | The price stated on this property is a guideline value | This property may sell for more or less than the guideline value, depending on the outcome of the auction bidding. | Winning bidder shall owe $6,500.00 night of the auction | For all terms, please visit our website. |

Key facts

• 6,098 sq ft lot
• 2 garage spots
• Built 1930

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; One story
• Construction: Aluminum siding and stone exterior
• Exterior features: Level lot; Lot dimensions approximately 43 x 150

Interior

• Bathrooms: 2 full bathrooms; 1 half bathroom; 1 bathroom on the main level
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: 5 total rooms; Basement: partial, unfinished with crawl space
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $365 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Cap rate 11.2% 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: Adams Elementary School (math 8% / reading 8%, grade F, #949 of 994 statewide, top 97%, 270 students, 90% FRL); Blackhawk Middle School (math 28% / reading 38%, grade F, #180 of 330 statewide, top 56%, 797 students, 46% FRL); R Nelson Snider High School (math 27% / reading 53%, grade F, #217 of 369 statewide, top 59%, 1,899 students, 50% FRL) — zoned schools at 62% FRL track the district average.
• Market conditions: 52 active listings in the ZIP; 9 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 $10k of equity ($622 loan paydown + $9k 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 $25k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

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

Recommended offer $90,000

Questions for the listing agent

1. Built in 1930 — 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: 1.39% ✓
• Cap rate: 11.15%
• Cash-on-cash: 17.36%
• DSCR: 1.77
• GRM: 6.0

CMA / ARV

• ARV (on-the-fly): $132,090
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2727 Winch St	0.24mi	3/1.0	1,536 (-1%)	2mo	$152,000	$99	81
2416 Maumee Ave	0.46mi	3/1.0	1,536 (-1%)	9mo	$68,000	$44	65
3006 Pennsylvania St	0.10mi	4/2.0 (+1)	1,320 (-15%)	10mo	$169,000	$128	57
3214 Rodgers Ave	0.55mi	3/1.0	1,528 (-2%)	12mo	$128,000	$84	57
1337 Wabash Ave	0.67mi	4/1.5 (+1)	1,602 (+3%)	0mo	$176,000	$110	56
3331 New Haven Ave	0.37mi	4/2.0 (+1)	1,344 (-14%)	2mo	$100,000	$74	53
2109 Maumee Ave	0.67mi	3/1.5	1,408 (-9%)	1mo	$110,000	$78	50
2431 New Haven Ave	0.53mi	3/1.0	1,355 (-13%)	2mo	$115,000	$85	48
2329 Chestnut St	0.55mi	4/1.5 (+1)	1,492 (-4%)	16mo	$45,000	$30	47
1323 Grant Ave	0.72mi	2/1.0 (-1)	1,463 (-6%)	2mo	$80,000	$55	46
3328 Logan Ave	0.45mi	3/1.0	1,392 (-10%)	19mo	$147,000	$106	42
2837 Raymond St	0.62mi	3/1.0	1,398 (-10%)	16mo	$142,000	$102	37

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: 37.2%
• Equity multiple: 3.87×
• Total profit: $72,258
• Equity at exit: $81,079

10-year hold

• IRR: 32.0%
• Equity multiple: 8.72×
• Total profit: $194,564
• Equity at exit: $174,850

Cash invested: $25,200 (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: 6.0×

Monthly cashflow live

• Estimated rent: $1,249 high
• Mortgage (P&I): −$472
• Tax est. 1.5%: −$112 /mo · $1,350/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $365

Break-even live

Break-even rent $787

Max offer price $90,000

Occupancy floor 66%

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: $22,500
• Closing costs: $2,700
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2730 Chestnut St Fort Wayne, IN	3.0	1.5	1312	$950	$0.72	21d	1	0.38mi
2806 New Haven Ave Fort Wayne, IN	3.0	1.0	1410	$1,125	$0.80	21d	1	0.44mi
2720 Queen St Fort Wayne, IN	3.0	2.0	1316	$1,395	$1.06	13d	1	1.03mi
1501 E Lewis St Fort Wayne, IN	4.0	1.0	2000	$1,450	$0.72	43d	1	1.05mi
2903 Queen St Fort Wayne, IN	3.0	2.0	1460	$1,200	$0.82	43d	1	1.09mi
1131 E Lewis St Fort Wayne, IN	4.0	2.0	1476	$1,950	$1.32	13d	1	1.31mi
2627 Holton Ave Fort Wayne, IN	3.0	2.0	1936	$1,500	$0.77	13d	1	1.39mi
919 Madison St Fort Wayne, IN	2.0	1.0	1332	$995	$0.75	43d	1	1.44mi
2020 Hobson Rd Fort Wayne, IN	2.0–4.0	1.0–2.0	1340	$1,135	$0.85	13d	7	1.48mi

Listing history 10 events

1. 2026-06-18
   days on market $90,000 Active 13 DOM
2. 2026-06-17
   days on market $90,000 Active 12 DOM
3. 2026-06-16
   days on market $90,000 Active 11 DOM
4. 2026-06-15
   days on market $90,000 Active 10 DOM
5. 2026-06-14
   days on market $90,000 Active 8 DOM
6. 2026-06-10
   days on market $90,000 Active 5 DOM
7. 2026-06-09
   days on market $90,000 Active 4 DOM
8. 2026-06-08
   days on market $90,000 Active 3 DOM
9. 2026-06-07
   remarks 407-char remark
10. 2026-06-07
    listed $90,000 Active 2 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $14,986
• − Mortgage interest: −$5,041
• − Property taxes: −$1,350
• − Insurance: −$450
• − Repairs & maintenance: −$1,199
• − Management: −$1,199
• − Depreciation: −$2,618
• Taxable income: $3,129
• Est. tax owed @ 24.0%: −$751
• After-tax cash flow: $3,625/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

1 event — show timeline

• 2026-06-05 Listed $90,000 IRMLS