812-810 W Creighton Ave · Fort Wayne, IN 46807

$124,900

5 bd · 2.0 ba · 2,532 sqft · MultiFamily public records · 39 Days on market

Built 1913 0.96 ac lot $49/sqft · 25% below area Est $167k · 25% under ↓ 21% since listing

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Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.6/5.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks

Cash-flowing duplex in the desirable ‘07! 812 W Creighton Ave features two units with strong income potential—ideal for investors or owner-occupants. Functional layouts, natural light, partial basement, off-street parking, and a low-maintenance lot. Prime location near downtown, parks, dining, and shopping with consistent rental demand. Value-add opportunity to increase rents. Sold as-is—schedule your showing today!

Key facts

• Partial basement
• Natural light
• Cash-flowing duplex

Tags

• CASH-FLOWING DUPLEX
• STRONG INCOME POTENTIAL
• FUNCTIONAL LAYOUTS
• NATURAL LIGHT
• PARTIAL BASEMENT
• OFF-STREET PARKING

Property features AI

Finance

• Other: Above-grade finished area approximately 2,532; Lot dimensions approximately 46 x 136 (about 0.96 acre)

Exterior

• Utilities: Public water; Public sewer
• Home design: Duplex residential income property; 2 stories
• Construction: Vinyl siding construction
• Exterior features: Level lot; Pets allowed

Interior

• Kitchen: Dishwasher, microwave, range, refrigerator
• Flooring: Carpet; Vinyl
• Bathrooms: 2 full bathrooms
• Heating & cooling: Central air and window units for cooling; Forced air heating powered by natural gas
• Interior features: Includes dishwasher, microwave, range, refrigerator; Carpet and vinyl flooring; Partial basement
• Laundry & utility: Washer and dryer

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $125k.

Deal economics

• At list price, monthly cash flow is $1k ($13k/yr) — positive. Per door: $529/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $125k).
• Recommended offer: $121k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.4% 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: Fairfield Elementary School (math 13% / reading 15%, grade F, #874 of 994 statewide, top 89%, 460 students, 88% FRL); Kekionga Middle School (math 10% / reading 17%, grade F, #303 of 330 statewide, top 92%, 538 students, 80% 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 80% FRL vs 60% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+8.2%/yr); 99 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% 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).
• At $2,496/mo this rent would consume 51% of the median local household income ($59k/yr) (locally 680% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $864 of loan paydown is wiped out by about $4k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $35k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 39 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $34k (21%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1913 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $121,153 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1913 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
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 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: 2.00% ✓
• Cap rate: 16.45%
• Cash-on-cash: 36.27%
• DSCR: 2.61
• GRM: 4.2

CMA / ARV

• ARV (median comp): $167,381
• List price: $124,900
• Delta: -25.38%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2134 Broadway Ave	0.19mi	4/2.0 (-1)	2,560 (+1%)	3mo	$110,000	$43	82
2414 S Wayne Ave	0.13mi	4/2.0 (-1)	2,648 (+5%)	1mo	$196,500	$74	80
311 W Williams St	0.46mi	5/2.0	2,446 (-3%)	5mo	$50,000	$20	69
939 Lincoln Ave	0.29mi	4/3.0 (-1)	2,652 (+5%)	7mo	$209,000	$79	64
324 W Butler St	0.43mi	4/4.0 (-1)	2,456 (-3%)	0mo	$75,000	$31	62
919 Parkview Ave	0.32mi	5/3.0	2,882 (+14%)	2mo	$212,000	$74	56
925 Lincoln Ave	0.29mi	4/4.0 (-1)	2,676 (+6%)	22mo	$71,750	$27	45
515 Lavina St	0.60mi	5/5.0	2,360 (-7%)	20mo	$500,000	$212	32

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: 37.8%
• Equity multiple: 2.73×
• Total profit: $60,347
• Equity at exit: $18,623

10-year hold

• IRR: 46.8%
• Equity multiple: 6.71×
• Total profit: $199,560
• Equity at exit: $10,799

Cash invested: $34,972 (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 46807

• Rents YoY: 8.2%
• Active inventory: 99
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,496 high
• Mortgage (P&I): −$655
• Tax from tax record: −$208 /mo · $2,493/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$524
• Net cashflow: $1,057

Break-even live

Break-even rent $1,158

Max offer price $124,900

Occupancy floor 53%

Sensitivity live

Price	-10% $1,128	-5% $1,092	+0% $1,057	+5% $1,022	+10% $986
Rent	-10% $860	-5% $958	+0% $1,057	+5% $1,156	+10% $1,254
Rate	-1.0pp $1,120	-0.5pp $1,089	base $1,057	+0.5pp $1,025	+1.0pp $992

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,496
Total (2 units)			$2,496

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2118 Webster St Fort Wayne, IN	4.0	1.0	2200	$1,175	$0.53	45d	1	0.44mi
2616 S Harrison St Fort Wayne, IN	4.0	2.0	1908	$1,500	$0.79	45d	1	0.55mi
3221 Webster St Fort Wayne, IN	5.0	2.0	1885	$1,575	$0.84	15d	1	0.76mi
3221 S Harrison St Fort Wayne, IN	5.0	2.0	2062	$1,650	$0.80	23d	1	0.80mi
2530 Lafayette St Fort Wayne, IN	4.0	1.0	1816	$1,500	$0.83	45d	1	0.83mi

Listing history 14 events

1. 2026-06-22
   days on market $124,900 Active 39 DOM
2. 2026-06-18
   days on market $124,900 Active 36 DOM
3. 2026-06-17
   days on market $124,900 Active 35 DOM
4. 2026-06-16
   days on market $124,900 Active 34 DOM
5. 2026-06-15
   price $124,900 Active 33 DOM
6. 2026-06-15
   days on market $134,900 Active 33 DOM
7. 2026-06-14
   days on market $134,900 Active 31 DOM
8. 2026-06-10
   days on market $134,900 Active 28 DOM
9. 2026-06-09
   days on market $134,900 Active 27 DOM
10. 2026-06-09
    status $134,900 Active 26 DOM
11. 2026-05-13
    status Pending 442-char remark
12. 2026-05-08
    price $134,900 442-char remark
13. 2026-04-24
    price $144,000 442-char remark
14. 2026-04-17
    listed $159,000 Active 442-char remark

ⓘ 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: $2,493 · $208/mo
• Projected year-2 tax: $2,493 · $208/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: $29,952
• − Mortgage interest: −$6,996
• − Property taxes: −$2,493
• − Insurance: −$624
• − Repairs & maintenance: −$2,396
• − Management: −$2,396
• − Depreciation: −$3,633
• Taxable income: $11,413
• Est. tax owed @ 24.0%: −$2,739
• After-tax cash flow: $9,946/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): 16,317
• Household income: $58,685
• Rent vs Own: 39.7% rent · 60.3% own
• Severe rent burden: 680.0

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: Diverse neighborhood (Simpson 0.66)
• Race & ethnicity: White 54% Two or more races 19% Hispanic / Latino 16% Black 14% Asian 4%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Slovak 3% Lithuanian 3% Romanian 2%
• Foreign-born: 9% · Canada, Philippines, Jamaica
• Languages at home: 82% English-only · Spanish 13% Other Asian/Pacific 4% German/W. Germanic 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: ▼ -318.66%
• Current HPI: 272.6238
• Rent YoY: ▲ 8.24%
• 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

-21.4% since first listed

6 events — show timeline

• 2026-06-15 Price Changed $124,900 IRMLS
• 2026-06-08 Relisted — IRMLS
• 2026-05-13 Pending — IRMLS
• 2026-05-08 Price Changed $134,900 IRMLS
• 2026-04-24 Price Changed $144,000 IRMLS
• 2026-04-17 Listed $159,000 IRMLS

Property tax history

+9.2%/yr

Latest (2024): $2,493 · +73.9% YoY. Source: county tax records.