3515 Astoria Way · Huntertown, IN 46818

$339,900

4 bd · 2.5 ba · 2,584 sqft · SingleFamily public records · 28 Days on market

Built 2001 9,225 sqft lot $132/sqft · 6% above area Est $324k · at est. $26/mo HOA · 1% of rent

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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 +12.7/30.0
• ARV discount +5.3/15.0
• Schools +4.9/10.0
• Rent growth +4.4/5.0
• DSCR +3.8/10.0
• Livability +3.5/5.0
• 1% rule +2.8/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Beautiful 2,600sqft home featuring four large bedrooms and two full bathrooms on the second floor. Master bedroom has three closets and a private en-suite. Half-bath is located downstairs. This home is sitting on a quiet cul-de-sac in a golf-cart friendly community with the best neighbors a young family can ask for. The HOA fees have been paid for 2026 at $313.00/year which is one of the cheaper fees including a community pool within walking distance of the home. Nice quiet setting within minutes to a variety of shopping centers. Prime location for Carroll School District. HVAC system is six years old with top-of-the-line A/C and furnace. The system can be controlled through your smart phon

Key facts

• 9,225 sq ft lot
• 2 garage spots
• Pool

Property features AI

Finance

• HOA & community: Homeowners association; Community pool; Sidewalks; Annual association fee of $313 (about $26.08/month)

Exterior

• Parking: Attached garage with garage door opener; 2 garage spaces
• Utilities: Public water; Public sewer
• Home design: Single family residence (site-built); 2 stories
• Construction: Vinyl siding; Slab foundation; Built as site-built home
• Exterior features: Private pool (association); Cul-de-sac lot; Level lot

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Convection oven
• Bedrooms: Total of 8 rooms (bedroom count not separately specified)
• Bathrooms: 2 full bathrooms; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Central air; Zoned cooling; Natural gas heating; Zoned heating; Forced air; Floor furnace
• Interior features: Walk-in closets; Pantry; Breakfast bar; Kitchen island; Open floorplan; Stone counters
• Laundry & utility: Gas dryer hookup; Main-level laundry

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $340k.

Deal economics

• At list price, monthly cash flow is $-40 ($-477/yr) — negative.
• To cash-flow at today's rent, offer at most $333k (2.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $265k (22.1% below list).
• Recommended offer: $265k (22.1% below list) — sets the bar for 1% rule.
• Cap rate 6.2% vs local median 4.1% in Huntertown — 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 70/100 on livability (#159 in IN) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• Northwest Allen County Schools (rural): math 51% / reading 58% proficiency, ranked #25 of 301 in IN (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 11% free/reduced lunch — higher-income household profile.
• Zoned schools: Eel River Elementary School (math 56% / reading 41%, grade D, #304 of 994 statewide, top 31%, 412 students, 29% FRL); Carroll Middle School (math 39% / reading 55%, grade D+, #65 of 330 statewide, top 21%, 994 students, 29% FRL); Carroll High School (math 59% / reading 86%, grade B+, #10 of 369 statewide, top 3%, 2,554 students, 21% FRL) — zoned schools average 26% FRL vs 11% district-wide (15 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+7.6%/yr); 327 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,861 units permitted in Allen County in 2024 (576 in 5+ unit buildings).
• This rent runs 39% of the median local income ($81k/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 $2k of loan paydown is wiped out by about $10k 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 28 days — a 2% lower offer ($335k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y 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.

Recommended offer $264,919 (22.1% 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. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.78% ✗
• Cap rate: 6.15%
• Cash-on-cash: -0.50%
• DSCR: 0.98
• GRM: 10.7

CMA / ARV

• ARV (median comp): $323,981
• List price: $339,900
• Delta: 4.91%
• 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
3515 Astoria Way	0.00mi	4/2.5	2,607 (+1%)	0mo	$335,000	$129	98
12967 Solo Ln	0.43mi	5/3.0 (+1)	2,600 (+1%)	3mo	$371,805	$143	70
4313 Great Hollow Ct	0.49mi	4/2.5	2,438 (-6%)	2mo	$475,000	$195	66
12926 Rey Cv	0.52mi	5/3.0 (+1)	2,600 (+1%)	4mo	$381,000	$147	65
4533 Hammock Dr	0.62mi	4/2.5	2,478 (-4%)	5mo	$370,000	$149	60
12839 Watts Dr	0.66mi	5/3.0 (+1)	2,600 (+1%)	2mo	$387,130	$149	59
2981 Skywalker Pass	0.55mi	4/2.5	2,346 (-9%)	3mo	$359,900	$153	57
12804 Watts Dr	0.68mi	5/3.0 (+1)	2,600 (+1%)	5mo	$348,530	$134	56
12792 Watts Dr	0.69mi	5/3.0 (+1)	2,600 (+1%)	5mo	$359,780	$138	56
12843 Watts Dr	0.64mi	4/2.5	2,346 (-9%)	3mo	$350,650	$149	52
12768 Watts Dr	0.71mi	4/2.5	2,346 (-9%)	4mo	$334,900	$143	48
3036 Water Wheel Run	0.71mi	3/3.0 (-1)	2,879 (+11%)	0mo	$324,900	$113	40

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 · 7.64% rent growth · sell at horizon

5-year hold

• IRR: -12.5%
• Equity multiple: 0.53×
• Total profit: $-44,756
• Equity at exit: $50,680

10-year hold

• IRR: 2.0%
• Equity multiple: 1.17×
• Total profit: $15,868
• Equity at exit: $29,388

Cash invested: $95,172 (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 46818

• Rents YoY: 7.6%
• Active inventory: 327
• Price-to-rent: 10.7×

Monthly cashflow live

• Estimated rent: $2,649 medium
• Mortgage (P&I): −$1,782
• Tax from tax record: −$183 /mo · $2,190/yr
• Insurance: −$142
• HOA: −$26
• Vacancy / Maint / Mgmt: −$556
• Net cashflow: $-40

Break-even live

Break-even rent $2,699

Max offer price $332,880

Occupancy floor 96%

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: $84,975
• Closing costs: $10,197
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3205 Water Wheel Run Fort Wayne, IN	4.0	2.5	2382	$2,500	$1.05	43d	1	0.71mi
5045 Portney Pl Fort Wayne, IN	4.0	2.5	2226	$2,300	$1.03	43d	1	0.95mi

HOA detail

• Monthly dues: $26 · $312/yr
• Likely covers: pool

Listing history 12 events

1. 2026-05-16
   price $339,900 1442-char remark
2. 2026-04-26
   listed $349,900 Active 1442-char remark
3. 2026-04-23
   historical $349,900 1442-char remark
4. 2020-06-30
   soldstatus $241,000
5. 2020-06-30
   listed $249,800
6. 2020-06-19
   soldstatus $241,000
7. 2020-04-30
   listed $249,800
8. 2017-07-03
   soldstatus $179,900
9. 2017-05-19
   listed $179,900
10. 2015-10-17
    soldstatus $169,900
11. 2015-08-26
    listed $169,900
12. 2014-05-02
    listed $173,000

ⓘ 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: $2,190 · $183/mo
• Projected year-2 tax: $2,540 · $212/mo
• Expected delta: +$350/yr (+$29/mo · 16.0%)

ⓘ 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 ≥99°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 2 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $31,790
• − Mortgage interest: −$19,040
• − Property taxes: −$2,190
• − Insurance: −$1,700
• − Repairs & maintenance: −$2,543
• − Management: −$2,543
• − HOA: −$312
• − Depreciation: −$9,888
• Taxable loss: −$6,425
• Est. tax savings @ 24.0%: +$1,542
• After-tax cash flow: $1,065/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: Northwest Allen County Schools
• NCES district ID: 1808250
• Math proficiency: 51% ▼ -6.00%
• Reading proficiency: 58% ▼ -5.00%
• Median HH income: $78,952
• Composite: 49.26/100
• National rank: #2027
• State rank: #25 of 301 in IN

Livability — Huntertown

• Score: 70/100
• State rank: #159
• US rank: #7771

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment A+ Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Huntertown, IN
• County: Allen County · 326,813 people
• Metro: Fort Wayne, IN
• Population (ZIP): 21,954
• Household income: $81,066
• Rent vs Own: 15.6% rent · 84.4% own
• Severe rent burden: 101.0

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 (79%)
• Race & ethnicity: White 79% Two or more races 8% Hispanic / Latino 7% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 4% Slovak 3% Romanian 2%
• Foreign-born: 8% · Canada, Vietnam, Philippines
• Languages at home: 90% English-only · Spanish 4% Other Asian/Pacific 1% Vietnamese 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: ▼ -217.71%
• Current HPI: 228.1539
• Rent YoY: ▲ 7.64%
• 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

+93.6% since first listed

14 events — show timeline

• 2026-06-15 Sold (MLS) $335,000 IRMLS
• 2026-05-25 Pending — IRMLS
• 2026-05-16 Price Changed $339,900 IRMLS
• 2026-04-26 Listed $349,900 IRMLS
• 2026-04-23 Coming Soon $349,900 IRMLS
• 2020-06-30 Listed $249,800 MIBOR as Distributed by MLS Grid
• 2020-06-30 Sold (MLS) $241,000 MIBOR as Distributed by MLS Grid
• 2020-06-19 Sold (MLS) $241,000 IRMLS
• 2020-04-30 Listed $249,800 IRMLS
• 2017-07-03 Sold (MLS) $179,900 IRMLS
• 2017-05-19 Listed $179,900 IRMLS
• 2015-10-17 Sold (MLS) $169,900 IRMLS
• 2015-08-26 Listed $169,900 IRMLS
• 2014-05-02 Listed $173,000 IRMLS

Property tax history

+1.9%/yr

Latest (2024): $2,190 · +2.5% YoY. Source: county tax records.