2336 E Pontiac St · Fort Wayne, IN 46803

$230,000

5 bd · 2.0 ba · 2,500 sqft · MultiFamily public records · 26 Days on market

Built 1900 8,250 sqft lot

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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 +19.4/30.0
• Appreciation +10.0/10.0
• ARV discount +7.5/15.0
• DSCR +6.1/10.0
• 1% rule +5.1/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks

Duplex Two-Story Home with Brand New Roof (May 2026)! This versatile property features two separate living units, making it a great opportunity for investors, owner-occupants, or multi-generational families seeking both togetherness and privacy. The main unit offers 4 bedrooms and 2 full bathrooms, while the second unit includes 1 bedroom and 1 full bathroom. Each unit has its own kitchen, furnace, AC unit, gas water heater (2012 & 2017), and separate gas and electric meters. Both kitchens come equipped with new refrigerators and stoves. The home features a covered front porch, a large back deck, and an additional private deck for the second unit. The units are connected through the

Key facts

• Covered front porch
• Large back deck
• Private deck

Tags

• TWO SEPARATE LIVING UNITS
• COVERED FRONT PORCH
• LARGE BACK DECK
• PRIVATE DECK
• NEW REFRIGERATORS
• NEW STOVES

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residential site-built home; 2-story
• Construction: Vinyl siding; Above-grade finished area approximately 2,500; Full basement (includes crawl space)
• Exterior features: Level lot; Lot dimensions approximately 150 x 55; Lot size about 0.19 acres

Interior

• Kitchen: Kitchen equipped with refrigerator and range (electric and gas)
• Bedrooms: Total of 8 rooms
• Bathrooms: 3 full bathrooms; 1 main-level bathroom
• Heating & cooling: Central air conditioning; Natural gas forced-air heating
• Interior features: Refrigerator, Electric Range, Gas Range; Has basement (full basement and crawl space)
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 5-bed/2.0-bath multifamily listed at $230k.

Deal economics

• At list price, monthly cash flow is $255 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $230k).
• Recommended offer: $227k (1.5% below list) — sets the bar for market timing.
• Cap rate 7.6% 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: 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); South Side High School (math 12% / reading 39%, grade F, #322 of 369 statewide, top 87%, 1,423 students, 73% FRL).
• Market conditions: 52 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% 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 $2,329/mo this rent would consume 81% 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 $25k of equity ($2k loan paydown + $23k 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 $64k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 2, paydown + projected appreciation supports a ~$40k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 26 days — a 2% lower offer ($227k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $226,550 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — 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 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: 1.01% ✓
• Cap rate: 7.63%
• Cash-on-cash: 4.76%
• DSCR: 1.21
• GRM: 8.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 27.7%
• Equity multiple: 3.20×
• Total profit: $141,562
• Equity at exit: $207,202

10-year hold

• IRR: 24.2%
• Equity multiple: 7.28×
• Total profit: $404,150
• Equity at exit: $446,839

Cash invested: $64,400 (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: 52
• Price-to-rent: 14.4×

Monthly cashflow live

• Estimated rent: $2,329 high
• Mortgage (P&I): −$1,206
• Tax from tax record: −$283 /mo · $3,390/yr
• Insurance: −$96
• HOA: −$0
• Vacancy / Maint / Mgmt: −$489
• Net cashflow: $255

Break-even live

Break-even rent $2,006

Max offer price $230,000

Occupancy floor 84%

Sensitivity live

Price	-10% $386	-5% $320	+0% $255	+5% $190	+10% $125
Rent	-10% $71	-5% $163	+0% $255	+5% $347	+10% $439
Rate	-1.0pp $371	-0.5pp $314	base $255	+0.5pp $196	+1.0pp $135

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

Units	Beds	Baths	Est. rent
1× unit	4	2	$1,335
1× unit	1	1	$994
Total (2 units)			$2,329

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: $57,500
• Closing costs: $6,900
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1501 E Lewis St Fort Wayne, IN	4.0	1.0	2000	$1,450	$0.72	44d	1	1.15mi
3702 Trace Cir Fort Wayne, IN	2.0–4.0	2.0	1571	$2,184	$1.39	44d	6	1.21mi
2530 Lafayette St Fort Wayne, IN	4.0	1.0	1816	$1,500	$0.83	44d	1	1.38mi

Listing history 15 events

1. 2026-06-18
   days on market $230,000 Active 26 DOM
2. 2026-06-17
   days on market $230,000 Active 25 DOM
3. 2026-06-16
   days on market $230,000 Active 24 DOM
4. 2026-06-15
   days on market $230,000 Active 23 DOM
5. 2026-06-14
   days on market $230,000 Active 21 DOM
6. 2026-06-10
   days on market $230,000 Active 18 DOM
7. 2026-06-09
   days on market $230,000 Active 17 DOM
8. 2026-06-08
   days on market $230,000 Active 16 DOM
9. 2026-06-07
   days on market $230,000 Active 15 DOM
10. 2026-06-03
    days on market $230,000 Active 11 DOM
11. 2026-06-02
    days on market $230,000 Active 10 DOM
12. 2026-06-01
    days on market $230,000 Active 9 DOM
13. 2026-05-31
    days on market $230,000 Active 8 DOM
14. 2026-05-30
    days on market $230,000 Active 7 DOM
15. 2026-05-23
    listed $230,000 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: $3,390 · $283/mo
• Projected year-2 tax: $3,390 · $283/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: $27,948
• − Mortgage interest: −$12,884
• − Property taxes: −$3,390
• − Insurance: −$1,150
• − Repairs & maintenance: −$2,236
• − Management: −$2,236
• − Depreciation: −$6,691
• Taxable loss: −$639
• Est. tax savings @ 24.0%: +$153
• After-tax cash flow: $3,218/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

1 event — show timeline

• 2026-05-23 Listed $230,000 IRMLS

Property tax history

+21.3%/yr

Latest (2024): $3,390 · +9.1% YoY. Source: county tax records.