2127 Bayside Ct · Fort Wayne, IN 46804

$167,000

3 bd · 1.5 ba · 1,560 sqft · Condo public records · 105 Days on market

Built 1975 $107/sqft · 74% above area Est $142k · 18% over $361/mo HOA · 18% 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 +17.2/30.0
• 1% rule +7.1/10.0
• DSCR +5.4/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• 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

Two-story condo in the heart of the '04 offers spacious and functional living in a prime location! The main level features a large living room with patio access, an open eat-in kitchen, and a convenient half bath. Upstairs, you'll find three generous bedrooms, convenient laundry space and a full bathroom which connects to the primary bedroom. The finished basement provides additional space for entertaining, relaxing, or storage. Enjoy a fenced back patio, attached one-car garage, and low-maintenance living—lawn care and exterior upkeep are covered by the association. Located near the Jorgenson Family YMCA, local dining, and entertainment!

Key facts

• Open eat in kitchen
• Two story condo
• Finished basement

Tags

• TWO STORY CONDO
• PATIO ACCESS
• OPEN EAT IN KITCHEN
• FINISHED BASEMENT
• FENCED BACK PATIO
• LOW MAINTENANCE LIVING

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $167k.

Deal economics

• At list price, monthly cash flow is $119 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $167k).
• Recommended offer: $152k (9.0% 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: 16 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,861 units permitted in Allen County in 2024 (576 in 5+ unit buildings).

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

• It's been on market 105 days — a 9% lower offer ($152k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 8y ago; this cycle's ask has dropped $9k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $151,970 (9.0% below list)

Questions for the listing agent

1. It's been on market 105 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 1975 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.21% ✓
• Cap rate: 7.15%
• Cash-on-cash: 3.06%
• DSCR: 1.14
• GRM: 6.9

CMA / ARV

• ARV (median comp): $142,118
• List price: $167,000
• Delta: 17.51%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -11.3%
• Equity multiple: 0.59×
• Total profit: $-19,241
• Equity at exit: $24,900

10-year hold

• IRR: -1.9%
• Equity multiple: 0.87×
• Total profit: $-6,047
• Equity at exit: $14,439

Cash invested: $46,760 (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 46804

• Active inventory: 16
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $2,022 high
• Mortgage (P&I): −$876
• Tax from tax record: −$172 /mo · $2,060/yr
• Insurance: −$70
• HOA: −$361
• Vacancy / Maint / Mgmt: −$425
• Net cashflow: $119

Break-even live

Break-even rent $1,871

Max offer price $167,000

Occupancy floor 89%

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: $41,750
• Closing costs: $5,010
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6142 Welch Rd Fort Wayne, IN	1.0–3.0	1.0–2.0	1055	$2,049	$1.94	14d	32	0.28mi
5810 Meadows Dr Fort Wayne, IN	1.0–3.0	1.0–2.0	1027	$1,749	$1.70	14d	9	0.49mi
2890 Getz Rd Fort Wayne, IN	3.0	2.5	2056	$2,395	$1.16	14d	1	0.55mi
1311 Edenton Dr Fort Wayne, IN	3.0	1.5	1344	$1,650	$1.23	21d	1	0.87mi
5123 Pinebrook Dr Fort Wayne, IN	2.0	2.0	1227	$1,595	$1.30	44d	1	0.87mi
4708 Palatine Dr Fort Wayne, IN	2.0	1.0	1379	$1,300	$0.94	14d	1	1.10mi
8075 Preston Pointe Dr Fort Wayne, IN	1.0–3.0	1.0–2.0	995	$1,600	$1.61	14d	6	1.32mi
910 Lagro Dr Fort Wayne, IN	2.0	1.0	1080	$1,200	$1.11	21d	1	1.35mi

HOA detail condo

• Monthly dues: $361 · $4,332/yr
• Likely covers: landscaping
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 31 events

1. 2026-06-18
   days on market $167,000 Active 105 DOM
2. 2026-06-17
   days on market $167,000 Active 104 DOM
3. 2026-06-16
   days on market $167,000 Active 103 DOM
4. 2026-06-15
   price $167,000 Active 102 DOM
5. 2026-06-15
   days on market $172,400 Active 102 DOM
6. 2026-06-14
   days on market $172,400 Active 100 DOM
7. 2026-06-10
   days on market $172,400 Active 97 DOM
8. 2026-06-09
   days on market $172,400 Active 96 DOM
9. 2026-06-08
   days on market $172,400 Active 95 DOM
10. 2026-06-07
    days on market $172,400 Active 94 DOM
11. 2026-06-03
    days on market $172,400 Active 90 DOM
12. 2026-06-02
    days on market $172,400 Active 89 DOM
13. 2026-06-01
    days on market $172,400 Active 88 DOM
14. 2026-05-31
    days on market $172,400 Active 87 DOM
15. 2026-05-30
    days on market $172,400 Active 86 DOM
16. 2026-04-30
    price $174,900 652-char remark

    Show marketing remark (652 chars)

    Two-story condo in the heart of the '04 offers spacious and functional living in a prime location! The main level features a large living room with patio access, an open eat-in kitchen, and a convenient half bath. Upstairs, you'll find three generous bedrooms, convenient laundry space and a full bathroom which connects to the primary bedroom. The finished basement provides additional space for entertaining, relaxing, or storage. Enjoy a fenced back patio, attached one-car garage, and low-maintenance living—lawn care and exterior upkeep are covered by the association. Located near the Jorgenson Family YMCA, local dining, and entertainment!

17. 2026-03-05
    listed $175,900 Active 652-char remark

    Show marketing remark (652 chars)

    Two-story condo in the heart of the '04 offers spacious and functional living in a prime location! The main level features a large living room with patio access, an open eat-in kitchen, and a convenient half bath. Upstairs, you'll find three generous bedrooms, convenient laundry space and a full bathroom which connects to the primary bedroom. The finished basement provides additional space for entertaining, relaxing, or storage. Enjoy a fenced back patio, attached one-car garage, and low-maintenance living—lawn care and exterior upkeep are covered by the association. Located near the Jorgenson Family YMCA, local dining, and entertainment!

18. 2025-10-21
    status Active
19. 2025-10-11
    historical Active Under Contract
20. 2025-09-09
    price $175,900
21. 2025-08-20
    price $177,900
22. 2025-07-24
    listed $179,900 Active
23. 2023-08-24
    soldstatus $170,000 Closed
24. 2023-08-02
    historical
25. 2023-07-19
    status Pending
26. 2023-07-17
    listed $162,500 Active
27. 2019-09-04
    soldstatus $97,000
28. 2019-07-12
    listed $99,900
29. 2018-10-12
    soldstatus $94,900
30. 2018-09-09
    listed $94,900
31. 2018-06-22
    listed $97,000

ⓘ 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: $2,060 · $172/mo
• Projected year-2 tax: $2,060 · $172/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 · 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: $24,261
• − Mortgage interest: −$9,355
• − Property taxes: −$2,060
• − Insurance: −$835
• − Repairs & maintenance: −$1,941
• − Management: −$1,941
• − HOA: −$4,332
• − Depreciation: −$4,858
• Taxable loss: −$1,060
• Est. tax savings @ 24.0%: +$254
• After-tax cash flow: $1,685/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): 29,661
• Household income: $85,833
• Rent vs Own: 31.9% rent · 68.1% 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 (81%)
• Race & ethnicity: White 81% Black 6% Two or more races 6% Hispanic / Latino 5% Asian 3%
• Hispanic origin (detail): Mexican 3%
• Common ancestry: Lithuanian 3% Slovak 3% Italian 3%
• Foreign-born: 5% · Canada
• Languages at home: 93% English-only · Spanish 3% Tagalog/Filipino 1% Other Indo-European 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: ▼ -180.52%
• Current HPI: 238.0672
• 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

+80.3% since first listed

16 events — show timeline

• 2026-04-30 Price Changed $174,900 IRMLS
• 2026-03-05 Listed $175,900 IRMLS
• 2025-10-21 Relisted — IRMLS
• 2025-10-11 Contingent — IRMLS
• 2025-09-09 Price Changed $175,900 IRMLS
• 2025-08-20 Price Changed $177,900 IRMLS
• 2025-07-24 Listed $179,900 IRMLS
• 2023-08-24 Sold (MLS) $170,000 IRMLS
• 2023-08-02 Delisted — IRMLS
• 2023-07-19 Pending — IRMLS
• 2023-07-17 Listed $162,500 IRMLS
• 2019-09-04 Sold (MLS) $97,000 IRMLS
• 2019-07-12 Listed $99,900 IRMLS
• 2018-10-12 Sold (MLS) $94,900 IRMLS
• 2018-09-09 Listed $94,900 IRMLS
• 2018-06-22 Listed $97,000 IRMLS

Property tax history

+20.2%/yr

Latest (2024): $2,060 · +165.7% YoY. Source: county tax records.