4326 Hursh Rd · Fort Wayne, IN 46845

$249,900

3 bd · 1.0 ba · 1,480 sqft · SingleFamily public records · 7 Days on market

Built 1970 0.59 ac lot

---

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 +15.0/30.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +4.9/10.0
• DSCR +4.6/10.0
• Livability +4.2/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Country charm meets everyday convenience! This inviting 4BR, 2BA tri-level sits on over half an acre on Fort Wayne’s desirable north side offering the space, comfort & a peaceful setting you’ve been looking for. Inside you’ll find a bright airy feel with a fresh all-white interior, freshly painted walls, brand-new flooring throughout & a new roof. Step outside & unwind on the screened-in porch or enjoy the privacy of your fully fenced yard, surrounded by mature shade trees that create a truly serene, park-like backdrop. Two storage sheds provide plenty of room for hobbies, tools, or outdoor gear. Located near award-winning schools & just minutes fro

Key facts

• Screened-in porch
• Two storage sheds
• Mature shade trees

Tags

• SCREENED-IN PORCH
• FULLY FENCED YARD
• MATURE SHADE TREES
• TWO STORAGE SHEDS

Property features AI

Exterior

• Parking: Attached garage (1 car); Gravel parking
• Utilities: Private well water; Public sewer
• Home design: Single-family site-built home; Residential property; Subdivision: Greuters
• Construction: Brick construction; Asphalt roof; Above-grade finished area and below-grade finished area present
• Exterior features: Screened porch; Porch; Shed(s); Level lot

Interior

• Flooring: Carpet; Laminate; Ceramic tile
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Radiant heating; Ceiling fans for cooling; No central air
• Interior features: Partial, daylight, partially finished basement; 8 total rooms
• Laundry & utility: Laundry in basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $250k.

Deal economics

• At list price, monthly cash flow is $78 ($937/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 $203k (18.7% below list).
• Recommended offer: $203k (18.7% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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+.
• Northwest Allen County Schools (rural): math 51% / reading 58% proficiency, ranked #25 of 301 in IN (top 8%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 11% free/reduced lunch — higher-income household profile.
• Zoned schools: Cedar Canyon Elementary School (math 69% / reading 62%, grade B+, #75 of 994 statewide, top 8%, 531 students, 11% FRL); Maple Creek Middle School (math 41% / reading 60%, grade C, #43 of 330 statewide, top 14%, 957 students, 14% FRL); Carroll High School (math 59% / reading 86%, grade B+, #10 of 369 statewide, top 3%, 2,554 students, 21% FRL) — zoned schools at 16% FRL track the district average.
• Market conditions: Rents rising fast (+10.5%/yr); 220 active listings in the ZIP; 1 comparable units currently listed for rent nearby; high-income renter base; 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 $2k of loan paydown is wiped out by about $7k 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 7 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $203,099 (18.7% below list)

Questions for the listing agent

1. Built in 1970 — 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. 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?
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: 0.81% ✗
• Cap rate: 6.67%
• Cash-on-cash: 1.34%
• DSCR: 1.06
• GRM: 10.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -9.3%
• Equity multiple: 0.64×
• Total profit: $-24,883
• Equity at exit: $37,261

10-year hold

• IRR: 5.3%
• Equity multiple: 1.47×
• Total profit: $33,209
• Equity at exit: $21,607

Cash invested: $69,972 (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 46845

• Home prices YoY: -34.6%
• Rents YoY: 10.5%
• Active inventory: 220
• Price-to-rent: 10.3×

Monthly cashflow live

• Estimated rent: $2,031 medium
• Mortgage (P&I): −$1,311
• Tax from tax record: −$112 /mo · $1,342/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$427
• Net cashflow: $78

Break-even live

Break-even rent $1,932

Max offer price $249,900

Occupancy floor 91%

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: $62,475
• Closing costs: $7,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
13101 Union Club Blvd Fort Wayne, IN	3.0	1.0–2.0	1183	$2,279	$1.93	13d	10	1.04mi

Listing history 2 events

1. 2026-05-01
   status Pending
2. 2026-04-24
   listed $249,900 Active

ⓘ 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: $1,342 · $112/mo
• Projected year-2 tax: $1,733 · $144/mo
• Expected delta: +$391/yr (+$33/mo · 29.2%)

ⓘ 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 3/10 Moderate
• 🌡 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: $24,372
• − Mortgage interest: −$13,998
• − Property taxes: −$1,342
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,950
• − Management: −$1,950
• − Depreciation: −$7,270
• Taxable loss: −$3,387
• Est. tax savings @ 24.0%: +$813
• After-tax cash flow: $1,749/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: Northwest Allen County Schools
• NCES district ID: 1808250
• Math proficiency: 51% ▼ -6.00%
• Reading proficiency: 58% ▼ -5.00%
• Median HH income: $78,952
• Composite: 49.26/100
• National rank: #2027
• State rank: #25 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

• County: Allen County · 326,813 people
• City population: 326,813
• Metro: Fort Wayne, IN
• Population (ZIP): 29,583
• Household income: $112,676
• Rent vs Own: 16.0% rent · 84.0% own
• Severe rent burden: 467.0

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: Predominantly White (86%)
• Race & ethnicity: White 86% Asian 4% Two or more races 4% Hispanic / Latino 3% Black 3%
• Common ancestry: Italian 4% Romanian 3% Lithuanian 3%
• Foreign-born: 5% · Vietnam, Canada, China
• Languages at home: 93% English-only · Spanish 2% Chinese 1% Vietnamese 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: ▼ -112.27%
• Current HPI: 212.3516
• Rent YoY: ▲ 10.47%
• 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

2 events — show timeline

• 2026-05-01 Pending — IRMLS
• 2026-04-24 Listed $249,900 IRMLS

Property tax history

+5.1%/yr

Latest (2024): $1,342 · +5.8% YoY. Source: county tax records.