6214 Crofton Dr · Fort Wayne, IN 46835

$183,000

2 bd · 1.5 ba · 1,250 sqft · SingleFamily public records · 77 Days on market

Built 1985 Est $195k · 6% under

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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 +12.8/30.0
• ARV discount +10.3/15.0
• Rent growth +4.7/5.0
• Livability +4.2/5.0
• DSCR +3.8/10.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Accepted First Right of Refusal Contingent Offer. Very popular Sawmill Woods Condominiums. Spacious 1 bedroom, 1.5 baths with loft. Large master bedroom with walk in closet. Living room with custom built mantel fireplace. Ample storage, 1 car garage. Association dues cover replacement of windows, roof, siding, exterior maintenance, clubhouse, pool, tennis & basketball court, snow removal, mowing, mulch. Appliances included but not warranted.

Key facts

• Walk-in closet
• Linen closet
• Newer appliances

Tags

• PRIVATE PATIO
• TILE FLOORING
• NEWER APPLIANCES
• NEWER COUNTER TOPS
• WALK-IN CLOSET
• LINEN CLOSET

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $183k.

Deal economics

• At list price, monthly cash flow is $-16 ($-192/yr) — negative.
• To cash-flow at today's rent, offer at most $180k (1.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $148k (19.0% below list).
• Recommended offer: $148k (19.0% below list) — sets the bar for 1% rule.
• Cap rate 6.2% 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: Saint Joseph Central School (math 37% / reading 29%, grade F, #639 of 994 statewide, top 65%, 397 students, 48% FRL); Jefferson Middle School (math 22% / reading 29%, grade F, #243 of 330 statewide, top 74%, 682 students, 58% FRL); Northrop High School (math 25% / reading 62%, grade F, #191 of 369 statewide, top 52%, 2,136 students, 54% FRL).
• Market conditions: Rents rising fast (+8.9%/yr); 181 active listings in the ZIP; 11 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 77 days — a 6% lower offer ($172k) is reasonable based on typical stale-listing flexibility.
• 3 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.
• Current owner paid $90k; list at $183k implies a 104% gain — meaningful room to come down on a strong offer.

Recommended offer $148,314 (19.0% 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. It's been on market 77 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.81% ✗
• Cap rate: 6.19%
• Cash-on-cash: -0.37%
• DSCR: 0.98
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $195,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4550 Evard Rd	0.35mi	3/2.0 (+1)	1,290 (+3%)	11mo	$230,000	$178	62
5732 Meadowbrook Dr	0.59mi	3/1.0 (+1)	1,292 (+3%)	0mo	$220,000	$170	60
4648 Parkerdale Dr	0.56mi	3/2.0 (+1)	1,260 (+1%)	11mo	$155,000	$123	57
5749 Meadowbrook Dr	0.61mi	3/2.0 (+1)	1,204 (-4%)	4mo	$198,000	$164	55
6020 Becker Dr	0.49mi	3/1.0 (+1)	1,200 (-4%)	11mo	$159,900	$133	54
5579 Meadowbrook Dr	0.67mi	2/1.0	1,296 (+4%)	9mo	$210,000	$162	53
3310 Rosebay Ct	0.74mi	3/1.5 (+1)	1,172 (-6%)	1mo	$215,000	$183	49
4705 Derome Dr	0.70mi	3/1.0 (+1)	1,386 (+11%)	2mo	$208,200	$150	40
5962 Saint Joe Rd	0.68mi	3/1.5 (+1)	1,121 (-10%)	9mo	$159,900	$143	38
5145 Lynhurst Dr	0.67mi	3/1.5 (+1)	1,428 (+14%)	6mo	$213,000	$149	35
5372 Meadowbrook Dr	0.75mi	3/1.5 (+1)	1,380 (+10%)	9mo	$215,000	$156	35
7102 Saint Joe Rd	0.75mi	3/2.0 (+1)	1,414 (+13%)	4mo	$167,000	$118	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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -11.8%
• Equity multiple: 0.55×
• Total profit: $-22,858
• Equity at exit: $27,286

10-year hold

• IRR: 3.2%
• Equity multiple: 1.28×
• Total profit: $14,358
• Equity at exit: $15,822

Cash invested: $51,240 (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 46835

• Rents YoY: 8.9%
• Active inventory: 181
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $1,483 high
• Mortgage (P&I): −$960
• Tax from tax record: −$152 /mo · $1,821/yr
• Insurance: −$76
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $-16

Break-even live

Break-even rent $1,503

Max offer price $180,178

Occupancy floor 96%

Sensitivity live

Price	-10% $88	-5% $36	+0% $-16	+5% $-68	+10% $-120
Rent	-10% $-133	-5% $-75	+0% $-16	+5% $43	+10% $101
Rate	-1.0pp $76	-0.5pp $31	base $-16	+0.5pp $-63	+1.0pp $-112

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: $45,750
• Closing costs: $5,490
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6225 St Joe Rd Fort Wayne, IN	2.0–3.0	2.0–3.0	979	$1,390	$1.42	44d	1	0.59mi
5438 Evard Rd Fort Wayne, IN	2.0	1.5	918	$1,249	$1.36	22d	1	0.70mi
3516 Kendale Dr Fort Wayne, IN	2.0	1.0	1820	$1,250	$0.69	44d	1	0.77mi
4251 Scokian Dr Fort Wayne, IN	3.0	2.0	1328	$2,100	$1.58	44d	1	0.93mi
6031 Evard Rd Fort Wayne, IN	2.0	2.0	1200	$1,600	$1.33	44d	4	1.09mi
6031 Evard Rd Fort Wayne, IN	2.0	2.0	1200	$1,600	$1.33	22d	1	1.09mi
6835 Solid Rock Dr Fort Wayne, IN	2.0	2.0	1200	$1,600	$1.33	14d	1	1.10mi
5450 Kinzie Ct Fort Wayne, IN	2.0	2.0	1294	$1,992	$1.54	14d	2	1.20mi
2306 Deerwood Dr Fort Wayne, IN	3.0	1.5	1456	$1,595	$1.10	22d	1	1.31mi
2727 Canterbury Blvd Fort Wayne, IN	1.0–3.0	1.0–2.5	1204	$1,458	$1.21	14d	394	1.37mi
5710 River Run Trl Fort Wayne, IN	1.0–3.0	1.0–2.0	937	$1,368	$1.46	14d	37	1.45mi

Listing history 7 events

1. 2026-04-28
   status Pending
2. 2026-04-13
   price $183,000
3. 2026-03-15
   price $186,500
4. 2026-02-11
   listed $189,000 Active
5. 2018-11-26
   soldstatus $89,900 451-char remark

   Show marketing remark (451 chars)

   Accepted First Right of Refusal Contingent Offer. Very popular Sawmill Woods Condominiums. Spacious 1 bedroom, 1.5 baths with loft. Large master bedroom with walk in closet. Living room with custom built mantel fireplace. Ample storage, 1 car garage. Association dues cover replacement of windows, roof, siding, exterior maintenance, clubhouse, pool, tennis & basketball court, snow removal, mowing, mulch. Appliances included but not warranted.

6. 2018-10-05
   listed $89,900 451-char remark

   Show marketing remark (451 chars)

   Accepted First Right of Refusal Contingent Offer. Very popular Sawmill Woods Condominiums. Spacious 1 bedroom, 1.5 baths with loft. Large master bedroom with walk in closet. Living room with custom built mantel fireplace. Ample storage, 1 car garage. Association dues cover replacement of windows, roof, siding, exterior maintenance, clubhouse, pool, tennis & basketball court, snow removal, mowing, mulch. Appliances included but not warranted.

7. 2014-04-16
   listed $73,999

ⓘ 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: $1,821 · $152/mo
• Projected year-2 tax: $1,821 · $152/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: $17,798
• − Mortgage interest: −$10,251
• − Property taxes: −$1,821
• − Insurance: −$915
• − Repairs & maintenance: −$1,424
• − Management: −$1,424
• − Depreciation: −$5,324
• Taxable loss: −$3,360
• Est. tax savings @ 24.0%: +$806
• After-tax cash flow: $615/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): 38,166
• Household income: $77,152
• Rent vs Own: 26.0% rent · 74.0% own
• Severe rent burden: 961.0

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 (77%)
• Race & ethnicity: White 77% Two or more races 10% Hispanic / Latino 8% Black 6% Asian 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 3% Lithuanian 3% Romanian 2%
• Foreign-born: 6% · Canada, Vietnam, Philippines
• Languages at home: 91% English-only · Spanish 3% Other Asian/Pacific 2% 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: ▼ -236.62%
• Current HPI: 236.3419
• Rent YoY: ▲ 8.95%
• 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

+147.3% since first listed

7 events — show timeline

• 2026-04-28 Pending — IRMLS
• 2026-04-13 Price Changed $183,000 IRMLS
• 2026-03-15 Price Changed $186,500 IRMLS
• 2026-02-11 Listed $189,000 IRMLS
• 2018-11-26 Sold (MLS) $89,900 IRMLS
• 2018-10-05 Listed $89,900 IRMLS
• 2014-04-16 Listed $73,999 IRMLS

Property tax history

-1.7%/yr

Latest (2024): $1,821 · +17.7% YoY. Source: county tax records.