3714 Smith St · Fort Wayne, IN 46806

$99,900

3 bd · 1.5 ba · 990 sqft · SingleFamily public records · 2 Days on market

Built 1925 5,772 sqft lot Est $118k · 15% under

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Why this score? — see what drove the C 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 +20.5/30.0
• ARV discount +14.3/15.0
• DSCR +6.5/10.0
• 1% rule +5.8/10.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

This 3-bedroom, 1.5-bath investment property is currently OCCUPIED and generating $925 per month in rental income, with ALL UTILITIES PAID BY THE TENANT for added efficiency and simplified management. The home includes a refrigerator and oven/range, along with recent exterior improvements including new soffit and fascia. Additional features such as a full basement for storage, 1-car attached garage, and off-street parking add functionality and long-term tenant appeal. Conveniently located near McMillen Park and Weisser Park, and just 1–2 minutes from shopping and dining, this property offers strong rental potential in a well-connected area. For investors looking to expand their portfo

Key facts

• Near mcmillen park
• Near weisser park
• Off-street parking

Tags

• FULL BASEMENT FOR STORAGE
• RECENT EXTERIOR IMPROVEMENTS
• NEW SOFFIT AND FASCIA
• OFF-STREET PARKING
• NEAR MCMILLEN PARK
• NEAR WEISSER PARK

Property features AI

Exterior

• Parking: Garage; Gravel and off-street parking (1 open space)
• Utilities: Public water; Public sewer
• Home design: Residential income property; 2 stories; Vinyl siding
• Construction: Asphalt shingle roof
• Exterior features: Covered patio/porch; Level lot

Interior

• Kitchen: Range; Refrigerator
• Flooring: Carpet; Tile
• Bathrooms: 1 full bathroom; 1 half bathroom; Three main-level bathrooms
• Heating & cooling: Forced air heating; Natural gas
• Interior features: Range; Refrigerator; Carpet and tile flooring; Full unfinished basement
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $132 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 7.9% 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+.
• 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: J Wilbur Haley Elementary School (math 19% / reading 20%, grade F, #814 of 994 statewide, top 83%, 568 students, 65% FRL); Lane Middle School (math 9% / reading 20%, grade F, #300 of 330 statewide, top 91%, 710 students, 74% FRL); R Nelson Snider High School (math 27% / reading 53%, grade F, #217 of 369 statewide, top 59%, 1,899 students, 50% FRL) — zoned schools at 63% FRL track the district average.
• Market conditions: Rents rising fast (+4.9%/yr); 129 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k 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 2 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1925 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $99,900

Questions for the listing agent

1. Built in 1925 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 1.08% ✓
• Cap rate: 7.88%
• Cash-on-cash: 5.68%
• DSCR: 1.25
• GRM: 7.7

CMA / ARV

• ARV (on-the-fly): $117,810
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4017 Weisser Park Ave	0.26mi	3/2.0	960 (-3%)	1mo	$129,000	$134	80
3127 Holton Ave	0.39mi	2/1.0 (-1)	984 (-1%)	1mo	$53,000	$54	73
3921 Bowser Ave	0.20mi	2/1.5 (-1)	918 (-7%)	2mo	$79,000	$86	72
1426 Eckart St	0.44mi	2/2.0 (-1)	960 (-3%)	1mo	$139,000	$145	66
3629 Robinwood Dr	0.21mi	2/1.0 (-1)	880 (-11%)	1mo	$130,000	$148	64
4126 Bowser Ave	0.30mi	3/1.0	1,096 (+11%)	3mo	$130,000	$119	64
4102 Warsaw St	0.46mi	2/1.0 (-1)	924 (-7%)	2mo	$52,000	$56	59
1515 E Rudisill Blvd	0.32mi	3/1.0	1,125 (+14%)	2mo	$114,900	$102	59
3805 Monroe St	0.33mi	2/1.0 (-1)	874 (-12%)	3mo	$129,000	$148	56
801 Mckinnie Ave	0.39mi	3/1.0	1,125 (+14%)	3mo	$92,500	$82	55
4605 Spatz Ave	0.61mi	3/1.0	878 (-11%)	3mo	$71,500	$81	48
4502 Winter St	0.65mi	3/1.0	1,107 (+12%)	0mo	$145,000	$131	48

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: -5.3%
• Equity multiple: 0.80×
• Total profit: $-5,594
• Equity at exit: $14,895

10-year hold

• IRR: 6.6%
• Equity multiple: 1.54×
• Total profit: $15,200
• Equity at exit: $8,638

Cash invested: $27,972 (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 46806

• Home prices YoY: -33.6%
• Rents YoY: 4.9%
• Active inventory: 129
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,075 high
• Mortgage (P&I): −$524
• Tax from tax record: −$151 /mo · $1,813/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $132

Break-even live

Break-even rent $907

Max offer price $99,900

Occupancy floor 83%

Sensitivity live

Price	-10% $189	-5% $161	+0% $132	+5% $104	+10% $76
Rent	-10% $48	-5% $90	+0% $132	+5% $175	+10% $217
Rate	-1.0pp $183	-0.5pp $158	base $132	+0.5pp $107	+1.0pp $80

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4014 Oliver St Fort Wayne, IN	3.0	1.0	936	$1,050	$1.12	15d	1	0.18mi
4129 Bowser Ave Fort Wayne, IN	3.0	1.5	850	$1,250	$1.47	22d	1	0.32mi
3932 Winter St Fort Wayne, IN	2.0	1.0	750	$875	$1.17	45d	1	0.39mi
4121 Monroe St Fort Wayne, IN	2.0	1.0	725	$1,100	$1.52	15d	1	0.39mi
3801 Lafayette St Fort Wayne, IN	2.0	1.0	1116	$995	$0.89	15d	1	0.49mi
3410 S Anthony Blvd Fort Wayne, IN	3.0	1.0	900	$1,200	$1.33	45d	1	0.52mi
4522 Spatz Ave Fort Wayne, IN	2.0	1.0	840	$950	$1.13	45d	1	0.54mi
4126 Lafayette St Fort Wayne, IN	2.0	1.0	775	$1,275	$1.65	45d	1	0.56mi
442 E Wildwood Ave Fort Wayne, IN	2.0	1.0	864	$875	$1.01	22d	1	0.61mi
4018 S Clinton St Fort Wayne, IN	3.0	1.0	860	$1,000	$1.16	22d	1	0.61mi
4331 Lafayette St Fort Wayne, IN	2.0	1.0	810	$925	$1.14	15d	1	0.62mi
4655 Avondale Dr Fort Wayne, IN	2.0	1.0	768	$875	$1.14	45d	1	0.78mi
4705 S Anthony Blvd Fort Wayne, IN	3.0	1.0	1110	$1,050	$0.95	15d	1	0.82mi
4325 Werling Dr Fort Wayne, IN	1.0–3.0	1.0–2.0	923	$1,164	$1.26	45d	1	0.87mi
227 W Darrow Ave Fort Wayne, IN	3.0	1.0	995	$1,000	$1.01	45d	1	0.89mi
3113 S Harrison St Unit 2 Fort Wayne, IN	2.0	1.0	600	$850	$1.42	15d	1	0.90mi
2919 S Harrison St Unit 2921 Fort Wayne, IN	2.0	1.0	538	$825	$1.53	22d	1	0.95mi
418 W Rudisill Blvd Unit 2 Fort Wayne, IN	2.0	1.0	768	$975	$1.27	22d	1	1.05mi
309 W Leith St Unit 2 Fort Wayne, IN	2.0	1.0	900	$1,000	$1.11	45d	1	1.10mi
859 Buchanan St Fort Wayne, IN	1.0–4.0	1.0	887	$1,074	$1.21	22d	1	1.19mi
2445 Fairfield Ave Fort Wayne, IN	2.0	1.5	950	$1,150	$1.21	15d	3	1.35mi
5009 Hoagland Ave Fort Wayne, IN	2.0	1.0	1000	$1,300	$1.30	45d	1	1.35mi
927 Nuttman Ave Fort Wayne, IN	2.0	1.0	650	$850	$1.31	45d	1	1.45mi
309 W Williams St Unit 1 Fort Wayne, IN	2.0	1.0	900	$900	$1.00	22d	1	1.47mi

Listing history 3 events

1. 2026-06-18
   days on market $99,900 Active 2 DOM
2. 2026-06-16
   remarks 693-char remark
3. 2026-06-16
   listed $99,900 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: $1,813 · $151/mo
• Projected year-2 tax: $1,813 · $151/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 6/10 Major FEMA zone X (unshaded) · 70% 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: $12,897
• − Mortgage interest: −$5,596
• − Property taxes: −$1,813
• − Insurance: −$500
• − Repairs & maintenance: −$1,032
• − Management: −$1,032
• − Depreciation: −$2,906
• Taxable income: $18
• Est. tax owed @ 24.0%: −$4
• After-tax cash flow: $1,585/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

• 2026-06-16 Listed $99,900 IRMLS

Property tax history

+13.0%/yr

Latest (2024): $1,813 · -2.7% YoY. Source: county tax records.