713 Harmar St · Fort Wayne, IN 46803

$74,900

4 bd · 1.5 ba · 1,816 sqft · SingleFamily public records · 1 Days on market

Built 1915 3,485 sqft lot $41/sqft · 51% below area Est $144k · 48% under

---

Why this score? — see what drove the A 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
• Appreciation +10.0/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks

Investor special - Spacious 1700sqft+, 4BR / 1.5 - desirable floor plan - Newer roof - Some newer windows - Partial basement - High ceilings - Lots of closet space - Hardwood floors - Covered porch - Detached outbuilding - Driveway & Off-street parking - Close to Ivy Tech, Downtown, Schools & Shopping. Opportunity & Potential await the skilled homeowner or investor - This would make a great rental too. Take a look today & make your best cash offer. Sold as-is. Quick closing/possession available. Taxes may change based on exemptions or lack thereof.

Key facts

• 3,485 sq ft lot
• Garage
• Built 1915

Property features AI

Exterior

• Parking: Detached off-street garage with 1 garage space; Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence, site-built; 2 stories
• Construction: Brick and other exterior materials; Foundations: brick/mortar, concrete perimeter, block; Built with conventional site-built construction
• Exterior features: Shingle roof; Other roof materials; Yard includes a shed

Interior

• Bedrooms: Total of 8 rooms (includes bedrooms and living spaces); Main-level laundry
• Flooring: Hardwood; Laminate; Other
• Bathrooms: 1 full bathroom; 1 half bathroom; One main-level bathroom
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Hardwood and laminate flooring; Additional flooring types
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $638 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $75k).
• Cap rate 16.5% vs local median 4.7% 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: 51 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 58% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 1,861 units permitted in Allen County in 2024 (576 in 5+ unit buildings).
• At $1,589/mo this rent would consume 55% of the median local household income ($34k/yr) (locally 660% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $8k of equity ($518 loan paydown + $7k appreciation (10.0% local appreciation)).
• Allen County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $21k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 10y 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.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $74,900

Questions for the listing agent

1. Built in 1915 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. 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: 2.12% ✓
• Cap rate: 16.52%
• Cash-on-cash: 36.53%
• DSCR: 2.63
• GRM: 3.9

CMA / ARV

• ARV (median comp): $143,844
• List price: $74,900
• Delta: -53.35%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
713 Harmar St	0.00mi	3/1.5 (-1)	1,715 (-6%)	1mo	$67,103	$39	85
908 Liberty St	0.02mi	5/2.0 (+1)	1,915 (+6%)	7mo	$130,000	$68	77
929 Edgewater Ave	0.15mi	3/2.0 (-1)	1,762 (-3%)	8mo	$283,500	$161	75
1419 Summit St	0.50mi	4/1.5	1,728 (-5%)	6mo	$123,000	$71	64
1126 Columbia Ave	0.31mi	3/1.5 (-1)	1,568 (-14%)	2mo	$265,000	$169	56
447 E Lewis St	0.52mi	3/2.5 (-1)	1,888 (+4%)	8mo	$124,900	$66	54
501 E Lewis St	0.51mi	3/1.5 (-1)	1,628 (-10%)	4mo	$97,000	$60	51
801 Kensington Blvd	0.65mi	4/1.5	1,591 (-12%)	4mo	$205,000	$129	46
705 Riverside Ave	0.70mi	4/1.0	1,600 (-12%)	1mo	$169,500	$106	45
1429 E Lewis St	0.56mi	3/1.0 (-1)	1,604 (-12%)	4mo	$120,000	$75	44
1631 Columbia Ave	0.65mi	3/1.5 (-1)	1,560 (-14%)	0mo	$190,500	$122	41
1632 Lake Ave	0.72mi	3/1.5 (-1)	1,622 (-11%)	7mo	$195,000	$120	37

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 52.4%
• Equity multiple: 4.89×
• Total profit: $81,542
• Equity at exit: $67,476

10-year hold

• IRR: 46.0%
• Equity multiple: 10.93×
• Total profit: $208,319
• Equity at exit: $145,514

Cash invested: $20,972 (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 46803

• Active inventory: 51
• Price-to-rent: 3.9×

Monthly cashflow live

• Estimated rent: $1,589 high
• Mortgage (P&I): −$393
• Tax from tax record: −$193 /mo · $2,314/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$334
• Net cashflow: $638

Break-even live

Break-even rent $781

Max offer price $74,900

Occupancy floor 55%

Sensitivity live

Price	-10% $681	-5% $660	+0% $638	+5% $617	+10% $596
Rent	-10% $513	-5% $576	+0% $638	+5% $701	+10% $764
Rate	-1.0pp $676	-0.5pp $658	base $638	+0.5pp $619	+1.0pp $599

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1132 S Hanna St Unit 1 Fort Wayne, IN	4.0	1.5	1656	$1,600	$0.97	45d	1	0.35mi
1131 E Lewis St Fort Wayne, IN	4.0	2.0	1476	$1,950	$1.32	15d	1	0.42mi
1501 E Lewis St Fort Wayne, IN	4.0	1.0	2000	$1,450	$0.72	45d	1	0.57mi
1516 Bayer Ave Fort Wayne, IN	4.0	2.0	1280	$1,299	$1.01	15d	1	0.62mi
1726 Tecumseh St Fort Wayne, IN	3.0	1.0	1280	$1,350	$1.05	15d	1	0.75mi
2008 N Anthony Blvd Fort Wayne, IN	3.0	2.5	2035	$1,825	$0.90	15d	1	1.09mi
420 E Dewald St Fort Wayne, IN	3.0	1.5	1472	$1,300	$0.88	45d	1	1.14mi
603 Lavina St Fort Wayne, IN	3.0	2.0	1872	$1,899	$1.01	45d	1	1.23mi
2118 Webster St Fort Wayne, IN	4.0	1.0	2200	$1,175	$0.53	45d	1	1.31mi
2403 N Clinton St Fort Wayne, IN	3.0	2.0	1666	$1,750	$1.05	45d	1	1.34mi
2315 Terrace Rd Fort Wayne, IN	3.0	1.0	1466	$1,600	$1.09	45d	1	1.36mi
877 Lavina St Fort Wayne, IN	1.0–3.0	1.0–2.0	997	$2,980	$2.99	45d	17	1.37mi
2530 Lafayette St Fort Wayne, IN	4.0	1.0	1816	$1,500	$0.83	45d	1	1.40mi
451 E Pontiac St Fort Wayne, IN	3.0	1.0	1308	$1,050	$0.80	45d	1	1.42mi
2627 Holton Ave Fort Wayne, IN	3.0	2.0	1936	$1,500	$0.77	15d	1	1.42mi
739 W 4th St Fort Wayne, IN	4.0	2.0	1750	$1,995	$1.14	15d	1	1.44mi
2508 Woodward Ave Fort Wayne, IN	3.0	1.0	1300	$1,700	$1.31	15d	1	1.48mi
2730 Chestnut St Fort Wayne, IN	3.0	1.5	1312	$950	$0.72	22d	1	1.48mi
1118 Rockhill St Fort Wayne, IN	3.0	3.0	1790	$2,300	$1.28	45d	1	1.48mi

Listing history 11 events

1. 2026-06-03
   days on marketlisting id $74,900 Active 1 DOM
2. 2026-05-31
   price $74,900 Active 7 DOM
3. 2026-05-31
   days on market $77,000 Active 7 DOM
4. 2026-05-30
   days on market $77,000 Active 6 DOM
5. 2026-05-15
   listed $78,900 Active 578-char remark
6. 2026-05-12
   soldstatus $67,103 Closed 796-char remark
7. 2026-05-08
   status Pending 796-char remark
8. 2026-05-07
   listed $67,103 Active 796-char remark
9. 2016-11-11
   listed $64,900
10. 2016-07-08
    soldstatus $17,000
11. 2016-06-16
    listed $16,000

ⓘ 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: $2,314 · $193/mo
• Projected year-2 tax: $2,314 · $193/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: $19,067
• − Mortgage interest: −$4,196
• − Property taxes: −$2,314
• − Insurance: −$374
• − Repairs & maintenance: −$1,525
• − Management: −$1,525
• − Depreciation: −$2,179
• Taxable income: $6,954
• Est. tax owed @ 24.0%: −$1,669
• After-tax cash flow: $5,993/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): 10,994
• Household income: $34,381
• Rent vs Own: 56.4% rent · 43.6% own
• Severe rent burden: 660.0

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 0.69)
• Race & ethnicity: Black 42% White 27% Hispanic / Latino 24% Two or more races 10% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 17% Puerto Rican 1%
• Common ancestry: Lithuanian 1% Iranian 1% Serbian 1%
• Foreign-born: 11% · Canada, Philippines
• Languages at home: 81% English-only · Spanish 16% Other Asian/Pacific 1% French/Haitian/Cajun 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: ▲ 107.58%
• Current HPI: 404.7976
• 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

+368.1% since first listed

11 events — show timeline

• 2026-06-03 Listed $74,900 IRMLS
• 2026-05-31 Price Changed $74,900 IRMLS
• 2026-05-24 Listed $77,000 IRMLS
• 2026-05-19 Price Changed $77,000 IRMLS
• 2026-05-15 Listed $78,900 IRMLS
• 2026-05-12 Sold (MLS) $67,103 IRMLS
• 2026-05-08 Pending — IRMLS
• 2026-05-07 Listed $67,103 IRMLS
• 2016-11-11 Listed $64,900 IRMLS
• 2016-07-08 Sold (MLS) $17,000 IRMLS
• 2016-06-16 Listed $16,000 IRMLS

Property tax history

+12.0%/yr

Latest (2024): $2,314 · +23.1% YoY. Source: county tax records.