4110 Reed St · Fort Wayne, IN 46806

$155,000

3 bd · 1.0 ba · 1,170 sqft · SingleFamily public records · 9 Days on market

Built 1945 4,752 sqft lot Est $117k · 32% over

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Why this score? — see what drove the F 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 +12.5/30.0
• Livability +4.2/5.0
• DSCR +3.7/10.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Schools +2.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 4110 Reed Street! This one-and-a-half-story home offers 3 bedrooms, 1 full bathroom, and 1,170 finished square feet. The main level features a living room, dining room, kitchen, bedroom, and full bathroom, while the upper level includes two additional bedrooms. The kitchen offers wood cabinetry and countertop workspace, and the home includes central air, gas forced-air heat, city water, city sewer, vinyl exterior, and a full basement with additional storage space. Outside, you’ll find a covered front porch, fenced backyard, and detached garage. Schedule your showing today!

Key facts

• Gas forced-air heat
• Countertop workspace
• City water

Tags

• WOOD CABINETRY
• COUNTERTOP WORKSPACE
• CENTRAL AIR
• GAS FORCED-AIR HEAT
• CITY WATER
• CITY SEWER

Property features AI

Finance

• Other: Property listed by Uptown Realty Group

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); Single-story
• Construction: Vinyl siding; Shingle roof (standard - roof type not explicitly stated)
• Exterior features: Level lot; Lot dimensions approximately 36 x 132; Lot size about 0.11 acres; Subdivision: Elm Wood / Elmwood

Interior

• Bedrooms: Bedrooms present (number not specified)
• Bathrooms: 2 full bathrooms; 1 bathroom on the main level
• Heating & cooling: Central air conditioning; Natural gas forced-air heating
• Interior features: Full basement; Total of 5 rooms
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $-23 ($-270/yr) — negative.
• To cash-flow at today's rent, offer at most $151k (2.6% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $112k (27.7% below list).
• Recommended offer: $112k (27.7% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 4.7% in Fort Wayne — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 33 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1945 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $112,064 (27.7% 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. Built in 1945 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.72% ✗
• Cap rate: 6.12%
• Cash-on-cash: -0.62%
• DSCR: 0.97
• GRM: 11.5

CMA / ARV

• ARV (on-the-fly): $117,000
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1515 E Rudisill Blvd	0.18mi	3/1.0	1,125 (-4%)	2mo	$114,900	$102	83
4126 Bowser Ave	0.16mi	3/1.0	1,096 (-6%)	3mo	$130,000	$119	80
4502 Winter St	0.31mi	3/1.0	1,107 (-5%)	0mo	$145,000	$131	76
3317 Smith St	0.54mi	3/1.0	1,182 (+1%)	4mo	$65,000	$55	70
4505 Plaza Dr	0.56mi	3/1.0	1,184 (+1%)	2mo	$79,000	$67	70
801 Mckinnie Ave	0.48mi	3/1.0	1,125 (-4%)	3mo	$92,500	$82	69
3015 Holton Ave	0.65mi	3/1.0	1,185 (+1%)	1mo	$80,000	$68	67
3110 Central Dr	0.66mi	3/1.0	1,224 (+5%)	1mo	$123,000	$100	61
4014 Hanna St	0.57mi	3/2.0	1,248 (+7%)	1mo	$188,500	$151	57
3602 Hanna St	0.65mi	3/1.5	1,268 (+8%)	2mo	$120,000	$95	52
3105 Central Dr	0.68mi	3/1.0	1,288 (+10%)	1mo	$65,000	$50	51
4915 Gaywood Dr	0.70mi	3/1.0	1,025 (-12%)	2mo	$140,000	$137	45

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: -15.6%
• Equity multiple: 0.44×
• Total profit: $-24,418
• Equity at exit: $23,111

10-year hold

• IRR: -4.6%
• Equity multiple: 0.68×
• Total profit: $-13,982
• Equity at exit: $13,402

Cash invested: $43,400 (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: 11.5×

Monthly cashflow live

• Estimated rent: $1,121 high
• Mortgage (P&I): −$813
• Tax from tax record: −$30 /mo · $365/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$235
• Net cashflow: $-23

Break-even live

Break-even rent $1,149

Max offer price $151,018

Occupancy floor 97%

Sensitivity live

Price	-10% $65	-5% $21	+0% $-23	+5% $-66	+10% $-110
Rent	-10% $-111	-5% $-67	+0% $-23	+5% $22	+10% $66
Rate	-1.0pp $56	-0.5pp $17	base $-23	+0.5pp $-63	+1.0pp $-104

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3932 Winter St Fort Wayne, IN	2.0	1.0	750	$875	$1.17	45d	1	0.10mi
4129 Bowser Ave Fort Wayne, IN	3.0	1.5	850	$1,250	$1.47	23d	1	0.15mi
4014 Oliver St Fort Wayne, IN	3.0	1.0	936	$1,050	$1.12	15d	1	0.23mi
1023 Hamilton Ave Fort Wayne, IN	3.0	1.0	1152	$1,075	$0.93	15d	1	0.42mi
3410 S Anthony Blvd Fort Wayne, IN	3.0	1.0	900	$1,200	$1.33	45d	1	0.45mi
4405 S Park Dr Fort Wayne, IN	2.0	1.0	1440	$1,175	$0.82	15d	1	0.45mi
4705 S Anthony Blvd Fort Wayne, IN	3.0	1.0	1110	$1,050	$0.95	15d	1	0.47mi
4522 Spatz Ave Fort Wayne, IN	2.0	1.0	840	$950	$1.13	45d	1	0.49mi
4325 Werling Dr Fort Wayne, IN	1.0–3.0	1.0–2.0	923	$1,164	$1.26	45d	1	0.50mi
4121 Monroe St Fort Wayne, IN	2.0	1.0	725	$1,100	$1.52	15d	1	0.61mi
3009 Holton Ave Fort Wayne, IN	3.0	1.0	1212	$1,400	$1.16	15d	1	0.64mi
1024 Colerick St Fort Wayne, IN	4.0	1.0	1388	$1,065	$0.77	23d	1	0.73mi
4331 Lafayette St Fort Wayne, IN	2.0	1.0	810	$925	$1.14	15d	1	0.81mi
4126 Lafayette St Fort Wayne, IN	2.0	1.0	775	$1,275	$1.65	45d	1	0.82mi
3801 Lafayette St Fort Wayne, IN	2.0	1.0	1116	$995	$0.89	15d	1	0.82mi
4655 Avondale Dr Fort Wayne, IN	2.0	1.0	768	$875	$1.14	45d	1	0.85mi
4018 S Clinton St Fort Wayne, IN	3.0	1.0	860	$1,000	$1.16	23d	1	0.91mi
2903 Queen St Fort Wayne, IN	3.0	2.0	1460	$1,200	$0.82	45d	1	0.97mi
442 E Wildwood Ave Fort Wayne, IN	2.0	1.0	864	$875	$1.01	23d	1	0.98mi
2720 Queen St Fort Wayne, IN	3.0	2.0	1316	$1,395	$1.06	15d	1	1.02mi
451 E Pontiac St Fort Wayne, IN	3.0	1.0	1308	$1,050	$0.80	45d	1	1.15mi
3510 S Harrison St Fort Wayne, IN	3.0	1.0	1248	$975	$0.78	15d	1	1.21mi
227 W Darrow Ave Fort Wayne, IN	3.0	1.0	995	$1,000	$1.01	45d	1	1.25mi
3702 Trace Cir Fort Wayne, IN	2.0–4.0	2.0	1571	$1,903	$1.21	45d	6	1.36mi
116 E Pontiac St Fort Wayne, IN	3.0	1.5	1400	$1,175	$0.84	23d	1	1.36mi
418 W Rudisill Blvd Unit 2 Fort Wayne, IN	2.0	1.0	768	$975	$1.27	23d	1	1.37mi
3008 Webster St Fort Wayne, IN	3.0	1.0	1344	$1,449	$1.08	23d	1	1.39mi
420 E Dewald St Fort Wayne, IN	3.0	1.5	1472	$1,300	$0.88	45d	1	1.43mi
2754 E Paulding Rd Fort Wayne, IN	1.0–3.0	1.0–2.5	997	$1,089	$1.09	15d	14	1.45mi
859 Buchanan St Fort Wayne, IN	1.0–4.0	1.0	887	$1,074	$1.21	23d	1	1.47mi
1004 Fayette Dr Fort Wayne, IN	1.0–2.0	1.0	679	$1,199	$1.76	15d	18	1.47mi
5009 Hoagland Ave Fort Wayne, IN	2.0	1.0	1000	$1,300	$1.30	45d	1	1.47mi
309 W Leith St Unit 2 Fort Wayne, IN	2.0	1.0	900	$1,000	$1.11	45d	1	1.48mi

Listing history 7 events

1. 2026-06-22
   days on market $155,000 Active 9 DOM
2. 2026-06-18
   days on market $155,000 Active 6 DOM
3. 2026-06-17
   days on market $155,000 Active 5 DOM
4. 2026-06-16
   days on market $155,000 Active 4 DOM
5. 2026-06-15
   days on market $155,000 Active 3 DOM
6. 2026-06-14
   remarks 590-char remark
7. 2026-06-14
   listed $155,000 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: $365 · $30/mo
• Projected year-2 tax: $841 · $70/mo
• Expected delta: +$476/yr (+$40/mo · 130.4%)

ⓘ 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: $13,448
• − Mortgage interest: −$8,682
• − Property taxes: −$365
• − Insurance: −$775
• − Repairs & maintenance: −$1,076
• − Management: −$1,076
• − Depreciation: −$4,509
• Taxable loss: −$3,036
• Est. tax savings @ 24.0%: +$729
• After-tax cash flow: $458/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

1 event — show timeline

• 2026-06-12 Listed $155,000 IRMLS

Property tax history

+0.0%/yr

Latest (2024): $365 · -8.9% YoY. Source: county tax records.