4503 Standish Dr · Fort Wayne, IN 46806

$119,000

3 bd · 1.0 ba · 1,172 sqft · SingleFamily public records · 51 Days on market

Built 1950 6,273 sqft lot $102/sqft · 62% above area

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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 +16.9/30.0
• ARV discount +7.5/15.0
• DSCR +5.3/10.0
• 1% rule +4.7/10.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• Schools +3.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great Rental home. Very Long Term Tenant. Great layout with two living spaces, large 2 car Garage, fenced in back yard. Tear-Off Roof, Furnace, Water Heater all new in thelast 5yrs. Start making money instantly!

Key facts

• 6,273 sq ft lot
• Parking
• Built 1950

Property features AI

Exterior

• Parking: 1 open parking space
• Utilities: Public water; Public sewer
• Home design: Residential income property; Single-story; Other property subtype
• Construction: Aluminum siding; Slab foundation
• Exterior features: Level lot; Chain-link fencing

Interior

• Flooring: Vinyl
• Bathrooms: 1 full bathroom; 3 main-level bathrooms
• Heating & cooling: Forced air heating (natural gas); Window air conditioning units
• Interior features: Vinyl flooring
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $79 ($947/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $116k (2.9% below list).
• Recommended offer: $115k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.1% 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-, employment D+.
• East Allen County Schools (suburban): math 36% / reading 47% proficiency, ranked #122 of 301 in IN (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Southwick Elementary School (606 students, 89% FRL); Paul Harding Jr High School (math 11% / reading 25%, grade F, #279 of 330 statewide, top 86%, 430 students, 88% FRL); New Haven Jr/Sr High School (math 21% / reading 50%, grade F, #263 of 369 statewide, top 72%, 1,494 students, 67% FRL) — zoned schools average 81% FRL vs 43% district-wide (38 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 27% at this address vs 42% district-wide (-15 pts) — the specific schools serving this property underperform the East Allen County Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+4.9%/yr); 133 active listings in the ZIP; 22 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 $823 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.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($115k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 6y 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 $49k; list at $119k implies a 143% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $115,430 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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: 0.97% ✗
• Cap rate: 7.09%
• Cash-on-cash: 2.84%
• DSCR: 1.13
• GRM: 8.6

CMA / ARV

• ARV (median comp): $73,475
• List price: $119,000
• Delta: 61.96%
• Verdict: OVERPRICED
• Comps: 4 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4505 Plaza Dr	0.10mi	3/1.0	1,184 (+1%)	2mo	$79,000	$67	91
4915 Plaza Dr	0.30mi	3/1.0	1,088 (-7%)	4mo	$155,000	$142	71
4502 Winter St	0.44mi	3/1.0	1,107 (-6%)	0mo	$145,000	$131	70
4926 Plaza Dr	0.31mi	3/2.0	1,315 (+12%)	1mo	$229,900	$175	60
4921 Devonshire Dr	0.60mi	3/2.5	1,192 (+2%)	5mo	$135,000	$113	59
1515 E Rudisill Blvd	0.71mi	3/1.0	1,125 (-4%)	2mo	$114,900	$102	58
4310 Lillie St	0.44mi	3/1.0	1,290 (+10%)	6mo	$120,000	$93	58
4523 Bowser Ave	0.60mi	3/2.0	1,225 (+4%)	6mo	$150,000	$122	56
4126 Bowser Ave	0.73mi	3/1.0	1,096 (-6%)	3mo	$130,000	$119	52
4765 Bowser Ave	0.59mi	4/2.0 (+1)	1,287 (+10%)	5mo	$165,000	$128	42
4425 Holton Ave	0.54mi	2/1.0 (-1)	996 (-15%)	5mo	$55,000	$55	41
5006 Hessen Cassel Rd	0.64mi	3/1.5	1,344 (+15%)	5mo	$195,000	$145	39

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: -9.6%
• Equity multiple: 0.64×
• Total profit: $-11,942
• Equity at exit: $17,743

10-year hold

• IRR: 2.3%
• Equity multiple: 1.18×
• Total profit: $5,942
• Equity at exit: $10,289

Cash invested: $33,320 (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: 8.6×

Monthly cashflow live

• Estimated rent: $1,156 high
• Mortgage (P&I): −$624
• Tax from tax record: −$160 /mo · $1,926/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $79

Break-even live

Break-even rent $1,056

Max offer price $119,000

Occupancy floor 88%

Sensitivity live

Price	-10% $146	-5% $113	+0% $79	+5% $45	+10% $12
Rent	-10% $-12	-5% $33	+0% $79	+5% $125	+10% $170
Rate	-1.0pp $139	-0.5pp $109	base $79	+0.5pp $48	+1.0pp $17

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4325 Werling Dr Fort Wayne, IN	1.0–3.0	1.0–2.0	923	$1,164	$1.26	45d	1	0.18mi
4705 S Anthony Blvd Fort Wayne, IN	3.0	1.0	1110	$1,050	$0.95	15d	1	0.31mi
3932 Winter St Fort Wayne, IN	2.0	1.0	750	$875	$1.17	45d	1	0.64mi
4129 Bowser Ave Fort Wayne, IN	3.0	1.5	850	$1,250	$1.47	23d	1	0.72mi
4014 Oliver St Fort Wayne, IN	3.0	1.0	936	$1,050	$1.12	15d	1	0.85mi
3410 S Anthony Blvd Fort Wayne, IN	3.0	1.0	900	$1,200	$1.33	45d	1	0.85mi
4522 Spatz Ave Fort Wayne, IN	2.0	1.0	840	$950	$1.13	45d	1	0.88mi
3702 Trace Cir Fort Wayne, IN	2.0–4.0	2.0	1571	$1,903	$1.21	45d	6	0.92mi
4405 S Park Dr Fort Wayne, IN	2.0	1.0	1440	$1,175	$0.82	15d	1	0.93mi
2754 E Paulding Rd Fort Wayne, IN	1.0–3.0	1.0–2.5	997	$1,089	$1.09	15d	14	0.93mi
1023 Hamilton Ave Fort Wayne, IN	3.0	1.0	1152	$1,075	$0.93	15d	1	1.05mi
2903 Queen St Fort Wayne, IN	3.0	2.0	1460	$1,200	$0.82	45d	1	1.14mi
3009 Holton Ave Fort Wayne, IN	3.0	1.0	1212	$1,400	$1.16	15d	1	1.15mi
4121 Monroe St Fort Wayne, IN	2.0	1.0	725	$1,100	$1.52	15d	1	1.17mi
2720 Queen St Fort Wayne, IN	3.0	2.0	1316	$1,395	$1.06	15d	1	1.22mi
4655 Avondale Dr Fort Wayne, IN	2.0	1.0	768	$875	$1.14	45d	1	1.24mi
1024 Colerick St Fort Wayne, IN	4.0	1.0	1388	$1,065	$0.77	23d	1	1.31mi
4331 Lafayette St Fort Wayne, IN	2.0	1.0	810	$925	$1.14	15d	1	1.32mi
1004 Fayette Dr Fort Wayne, IN	1.0–2.0	1.0	679	$1,199	$1.76	15d	18	1.36mi
4126 Lafayette St Fort Wayne, IN	2.0	1.0	775	$1,275	$1.65	45d	1	1.37mi
3801 Lafayette St Fort Wayne, IN	2.0	1.0	1116	$995	$0.89	15d	1	1.43mi
4018 S Clinton St Fort Wayne, IN	3.0	1.0	860	$1,000	$1.16	23d	1	1.48mi

Listing history 22 events

1. 2026-06-21
   days on market $119,000 Active 51 DOM
2. 2026-06-18
   days on market $119,000 Active 48 DOM
3. 2026-06-17
   days on market $119,000 Active 47 DOM
4. 2026-06-16
   days on market $119,000 Active 46 DOM
5. 2026-06-15
   days on market $119,000 Active 45 DOM
6. 2026-06-14
   days on market $119,000 Active 43 DOM
7. 2026-06-13
   pricedays on market $119,000 Active 42 DOM
8. 2026-06-10
   days on market $125,000 Active 40 DOM
9. 2026-06-09
   days on market $125,000 Active 39 DOM
10. 2026-06-08
    days on market $125,000 Active 38 DOM
11. 2026-06-07
    days on market $125,000 Active 37 DOM
12. 2026-06-03
    days on market $125,000 Active 33 DOM
13. 2026-06-02
    days on market $125,000 Active 32 DOM
14. 2026-06-01
    days on market $125,000 Active 31 DOM
15. 2026-05-31
    days on market $125,000 Active 30 DOM
16. 2026-05-30
    days on market $125,000 Active 29 DOM
17. 2026-05-01
    listed $125,000 Active 111-char remark
18. 2024-06-29
    historical $1,100
19. 2024-05-23
    listed $1,100
20. 2020-08-25
    soldstatus $49,000

    Show marketing remark (211 chars)

    Great Rental home. Very Long Term Tenant. Great layout with two living spaces, large 2 car Garage, fenced in back yard. Tear-Off Roof, Furnace, Water Heater all new in thelast 5yrs. Start making money instantly!

21. 2020-07-30
    listed $54,900

    Show marketing remark (211 chars)

    Great Rental home. Very Long Term Tenant. Great layout with two living spaces, large 2 car Garage, fenced in back yard. Tear-Off Roof, Furnace, Water Heater all new in thelast 5yrs. Start making money instantly!

22. 2020-07-30
    listed $54,900

    Show marketing remark (211 chars)

    Great Rental home. Very Long Term Tenant. Great layout with two living spaces, large 2 car Garage, fenced in back yard. Tear-Off Roof, Furnace, Water Heater all new in thelast 5yrs. Start making money instantly!

ⓘ 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: $1,926 · $160/mo
• Projected year-2 tax: $1,926 · $160/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: $13,870
• − Mortgage interest: −$6,666
• − Property taxes: −$1,926
• − Insurance: −$595
• − Repairs & maintenance: −$1,110
• − Management: −$1,110
• − Depreciation: −$3,462
• Taxable loss: −$998
• Est. tax savings @ 24.0%: +$240
• After-tax cash flow: $1,187/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: East Allen County Schools
• NCES district ID: 1802850
• Math proficiency: 36% ▼ -8.00%
• Reading proficiency: 47% ▼ -4.00%
• Median HH income: $50,524
• Composite: 35.75/100
• National rank: #4849
• State rank: #122 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
• 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

+116.8% since first listed

7 events — show timeline

• 2026-06-11 Price Changed $119,000 IRMLS
• 2026-05-01 Listed $125,000 IRMLS
• 2024-06-29 Rental Removed $1,100 APPFOLIO
• 2024-05-23 Listed for Rent $1,100 APPFOLIO
• 2020-08-25 Sold (MLS) $49,000 IRMLS
• 2020-07-30 Listed $54,900 IRMLS
• 2020-07-30 Listed $54,900 IRMLS

Property tax history

+10.2%/yr

Latest (2024): $1,926 · +15.2% YoY. Source: county tax records.