815 Eckart St · Fort Wayne, IN 46806

$169,900

4 bd · 1.0 ba · 1,906 sqft · SingleFamily public records · 13 Days on market

Built 1925 7,405 sqft lot Est $154k · 10% over

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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 +14.5/30.0
• DSCR +4.4/10.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• 1% rule +3.0/10.0
• ARV discount +3.0/15.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Big 5 bedroom 2 bath handyman special! Selling as is, cash only!

Key facts

• Updated electrical
• Fresh paint
• New flooring

Tags

• NEW FLOORING
• FRESH PAINT
• UPDATED LIGHT FIXTURES
• UPDATED PLUMBING
• UPDATED ELECTRICAL
• UPDATED PLUMBING FIXTURES

Property features AI

Finance

• Other: Zoning: R1

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; Two stories
• Construction: Vinyl siding
• Exterior features: Level lot; Lot dimensions approx. 39 x 130; Lot size about 0.17 acres; Asphalt roof

Interior

• Kitchen: Dishwasher; Refrigerator; Gas oven; Gas range
• Bedrooms: Total rooms: 8
• Bathrooms: Two full bathrooms; One main-level bathroom
• Heating & cooling: Forced air heating; Central air conditioning; Ceiling fans
• Interior features: Ceiling fans throughout; One fireplace
• Laundry & utility: Laundry on main level; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $37 ($449/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 $135k (20.3% below list).
• Recommended offer: $135k (20.3% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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-, 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: Merle J Abbett Elementary School (math 4% / reading 10%, grade F, #962 of 994 statewide, top 97%, 498 students, 86% FRL); Lane Middle School (math 9% / reading 20%, grade F, #300 of 330 statewide, top 91%, 710 students, 74% 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 78% FRL vs 60% district-wide (18 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+4.9%/yr); 133 active listings in the ZIP; 22 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 41% 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 34% of the median local income ($48k/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.

Negotiation context

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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 $75k; list at $170k implies a 127% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,460 (20.3% below list)

Questions for the listing agent

1. Built in 1925 — 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. 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?
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: 0.80% ✗
• Cap rate: 6.56%
• Cash-on-cash: 0.94%
• DSCR: 1.04
• GRM: 10.5

CMA / ARV

• ARV (on-the-fly): $154,386
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
815 Eckart St	0.00mi	5/2.0 (+1)	1,906 (0%)	7mo	$74,900	$39	85
2917 John St	0.13mi	4/2.0	1,632 (-14%)	3mo	$55,000	$34	64
2809 S Anthony Blvd	0.68mi	3/1.5 (-1)	1,860 (-2%)	2mo	$149,900	$81	56
918 Hamilton Ave	0.35mi	4/2.0	1,696 (-11%)	7mo	$115,000	$68	56
909 Mckinnie Ave	0.73mi	4/2.0	1,814 (-5%)	3mo	$135,000	$74	51
2906 Smith St	0.21mi	3/2.5 (-1)	1,638 (-14%)	6mo	$234,000	$143	50
2909 Bowser Ave	0.36mi	3/1.5 (-1)	1,672 (-12%)	7mo	$55,000	$33	50
2335 Smith St	0.51mi	4/1.5	1,680 (-12%)	7mo	$160,700	$96	48
204 E Suttenfield St	0.63mi	3/1.5 (-1)	2,138 (+12%)	3mo	$184,900	$86	41
2910 S Harrison St	0.69mi	3/1.5 (-1)	1,696 (-11%)	4mo	$172,500	$102	40
2316 Warsaw St	0.55mi	3/1.5 (-1)	1,632 (-14%)	8mo	$42,000	$26	37
2504 Lillie St	0.68mi	3/2.5 (-1)	1,638 (-14%)	1mo	$235,000	$143	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 · 4.93% rent growth · sell at horizon

5-year hold

• IRR: -12.9%
• Equity multiple: 0.53×
• Total profit: $-22,531
• Equity at exit: $25,333

10-year hold

• IRR: -1.5%
• Equity multiple: 0.89×
• Total profit: $-5,374
• 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 46806

• Home prices YoY: -33.6%
• Rents YoY: 4.9%
• Active inventory: 133
• Price-to-rent: 10.5×

Monthly cashflow live

• Estimated rent: $1,355 high
• Mortgage (P&I): −$891
• Tax from tax record: −$71 /mo · $851/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$284
• Net cashflow: $37

Break-even live

Break-even rent $1,307

Max offer price $169,900

Occupancy floor 92%

Sensitivity live

Price	-10% $134	-5% $86	+0% $37	+5% $-11	+10% $-59
Rent	-10% $-70	-5% $-16	+0% $37	+5% $91	+10% $144
Rate	-1.0pp $123	-0.5pp $81	base $37	+0.5pp $-7	+1.0pp $-51

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 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1024 Colerick St Fort Wayne, IN	4.0	1.0	1388	$1,065	$0.77	23d	1	0.15mi
451 E Pontiac St Fort Wayne, IN	3.0	1.0	1308	$1,050	$0.80	45d	1	0.38mi
2627 Holton Ave Fort Wayne, IN	3.0	2.0	1936	$1,500	$0.77	15d	1	0.49mi
2530 Lafayette St Fort Wayne, IN	4.0	1.0	1816	$1,500	$0.83	45d	1	0.50mi
116 E Pontiac St Fort Wayne, IN	3.0	1.5	1400	$1,175	$0.84	23d	1	0.63mi
420 E Dewald St Fort Wayne, IN	3.0	1.5	1472	$1,300	$0.88	45d	1	0.66mi
3221 S Harrison St Fort Wayne, IN	5.0	2.0	2062	$1,650	$0.80	23d	1	0.67mi
3221 Webster St Fort Wayne, IN	5.0	2.0	1885	$1,575	$0.84	15d	1	0.73mi
3510 S Harrison St Fort Wayne, IN	3.0	1.0	1248	$975	$0.78	15d	1	0.74mi
2616 S Harrison St Fort Wayne, IN	4.0	2.0	1908	$1,500	$0.79	45d	1	0.74mi
3008 Webster St Fort Wayne, IN	3.0	1.0	1344	$1,449	$1.08	23d	1	0.75mi
4133 Lafayette St Fort Wayne, IN	4.0	2.0	1640	$1,400	$0.85	23d	1	0.75mi
2118 Webster St Fort Wayne, IN	4.0	1.0	2200	$1,175	$0.53	45d	1	0.98mi
2720 Queen St Fort Wayne, IN	3.0	2.0	1316	$1,395	$1.06	15d	1	1.03mi
2903 Queen St Fort Wayne, IN	3.0	2.0	1460	$1,200	$0.82	45d	1	1.05mi
724 Kinnaird Ave Fort Wayne, IN	3.0	1.5	1880	$1,450	$0.77	45d	1	1.16mi
2431 Fox Ave Fort Wayne, IN	3.0	1.5	1522	$1,550	$1.02	15d	1	1.24mi
1131 E Lewis St Fort Wayne, IN	4.0	2.0	1476	$1,950	$1.32	15d	1	1.28mi
4201 S Wayne Ave Fort Wayne, IN	3.0	1.5	1252	$1,400	$1.12	23d	1	1.31mi
1501 E Lewis St Fort Wayne, IN	4.0	1.0	2000	$1,450	$0.72	45d	1	1.34mi
1132 S Hanna St Unit 1 Fort Wayne, IN	4.0	1.5	1656	$1,600	$0.97	45d	1	1.36mi
2806 New Haven Ave Fort Wayne, IN	3.0	1.0	1410	$1,125	$0.80	23d	1	1.48mi

Listing history 9 events

1. 2026-06-22
   days on market $169,900 Active 13 DOM
2. 2026-06-18
   days on market $169,900 Active 10 DOM
3. 2026-06-17
   days on market $169,900 Active 9 DOM
4. 2026-06-16
   days on market $169,900 Active 8 DOM
5. 2026-06-15
   days on market $169,900 Active 7 DOM
6. 2026-06-14
   days on market $169,900 Active 5 DOM
7. 2026-06-10
   days on market $169,900 Active 2 DOM
8. 2026-06-09
   remarks 345-char remark
9. 2026-06-09
   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: $851 · $71/mo
• Projected year-2 tax: $1,148 · $96/mo
• Expected delta: +$297/yr (+$25/mo · 34.9%)

ⓘ 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: $16,255
• − Mortgage interest: −$9,517
• − Property taxes: −$851
• − Insurance: −$850
• − Repairs & maintenance: −$1,300
• − Management: −$1,300
• − Depreciation: −$4,943
• Taxable loss: −$2,506
• Est. tax savings @ 24.0%: +$601
• After-tax cash flow: $1,051/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): 26,425
• Household income: $47,895
• Rent vs Own: 48.1% rent · 51.9% own
• Severe rent burden: 1184.0

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: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: Black 37% Hispanic / Latino 26% White 21% Asian 12% Two or more races 11% Native American 2%
• Hispanic origin (detail): Mexican 18% Puerto Rican 1%
• Common ancestry: Italian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 19% · Canada, Philippines, South Korea
• Languages at home: 71% English-only · Spanish 19% Other Asian/Pacific 9%

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: ▼ -148.00%
• Current HPI: 291.8198
• Rent YoY: ▲ 4.93%
• 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

+126.8% since first listed

4 events — show timeline

• 2026-06-05 Listed $169,900 IRMLS
• 2025-11-20 Sold (MLS) $74,900 IRMLS
• 2025-11-01 Pending — IRMLS
• 2025-10-24 Listed $74,900 IRMLS

Property tax history

+21.4%/yr

Latest (2024): $851 · +27.1% YoY. Source: county tax records.