1916 Clarmarnic Dr · Fort Wayne, IN 46815

$225,000

4 bd · 2.0 ba · 1,840 sqft · SingleFamily public records · 6 Days on market

Built 1962 8,976 sqft lot Est $221k · at est.

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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 +14.1/30.0
• ARV discount +6.6/15.0
• DSCR +4.3/10.0
• Livability +4.2/5.0
• 1% rule +3.2/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Fall in love with this rare 4 bedroom in Kingston Park! This 2 story home has nice landscaping giving it great curb appeal! You will enjoy the luxury of this open concept home, making it flow with ease as you travel through it. There are two separate living areas. The front room living area is very spacious and has lots of windows which let in lots of natural light. The other living space is open to the kitchen, making it easy to entertain and still cook at the same time. The kitchen is stunning with granite countertops and white cabinetry with beautiful woodwork! There are lots of cabinets which is perfect for all of your storage needs in the kitchen. There is a separate laundry room on the main level with a half bath and cabinets for storage as well! Upstairs you will find your master bedroom with its own half bath and great closet space. Down the hall you will find the other bedrooms along with a full bath. Out back you will enjoy a large patio, great for entertaining family and friends and perfect for grilling. The back yard is nicely manicured and is fenced in. This home has updated windows and a newer roof as well! Being close to downtown and near shopping and restaurants, this home won't last long. Come see it and make it yours today!

Key facts

• Fresh paint
• New flooring
• Fort wayne location

Tags

• FORT WAYNE LOCATION
• ZONED FOR SNIDER HIGH SCHOOL
• FRESH PAINT
• NEW FLOORING
• UPDATED LIGHT FIXTURES
• NEW APPLIANCES

Property features AI

Exterior

• Parking: Attached garage with 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; 2 stories
• Construction: Aluminum siding, stone and other exterior materials; Slab foundation
• Exterior features: Irregular-shaped lot; Lot dimensions approximately 66 x 136

Interior

• Kitchen: Equipped with dishwasher, microwave, refrigerator and electric range
• Bathrooms: 1 full bathroom; 2 half bathrooms; 1 main-level bathroom
• Heating & cooling: Hot water heating; No central cooling
• Interior features: Dishwasher, Microwave, Refrigerator, Electric Range; 7 total rooms
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $34 ($414/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 $185k (17.8% below list).
• Recommended offer: $185k (17.8% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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-, 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: Glenwood Park Elementary School (math 40% / reading 36%, grade F, #538 of 994 statewide, top 54%, 554 students, 63% 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: 101 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 1,861 units permitted in Allen County in 2024 (576 in 5+ unit buildings).
• This rent runs 30% of the median local income ($73k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

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 6 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 9y 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 $112k; list at $225k implies a 102% gain — meaningful room to come down on a strong offer.

Recommended offer $184,987 (17.8% below list)

Questions for the listing agent

1. Built in 1962 — 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: 0.82% ✗
• Cap rate: 6.48%
• Cash-on-cash: 0.66%
• DSCR: 1.03
• GRM: 10.1

CMA / ARV

• ARV (on-the-fly): $220,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4328 Dodge Ave	0.33mi	3/2.5 (-1)	1,776 (-4%)	1mo	$259,900	$146	71
4316 Blair Ln	0.11mi	3/1.5 (-1)	1,664 (-10%)	1mo	$205,000	$123	71
1706 Inwood Dr	0.18mi	3/1.5 (-1)	1,664 (-10%)	5mo	$230,000	$138	64
2704 Farnsworth Dr	0.52mi	3/1.5 (-1)	1,804 (-2%)	2mo	$200,000	$111	64
4160 Woodstock Dr	0.49mi	3/1.5 (-1)	1,902 (+3%)	6mo	$229,000	$120	60
5419 Forest Ave	0.67mi	3/2.0 (-1)	1,824 (-1%)	4mo	$214,900	$118	59
2521 Bolton Dr	0.50mi	3/1.5 (-1)	1,945 (+6%)	1mo	$225,100	$116	59
2425 White Oak Ave	0.75mi	3/1.5 (-1)	1,924 (+5%)	1mo	$194,500	$101	50
3411 Charlotte Ave	0.75mi	4/2.0	1,956 (+6%)	6mo	$222,000	$113	50
2715 Barnhart Ave	0.74mi	4/2.0	2,016 (+10%)	2mo	$219,900	$109	48
5110 Eastwick Dr	0.62mi	3/1.0 (-1)	1,600 (-13%)	5mo	$205,000	$128	37
723 Pinehurst Dr	0.68mi	3/2.5 (-1)	1,578 (-14%)	4mo	$255,000	$162	34

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.3%
• Equity multiple: 0.46×
• Total profit: $-34,315
• Equity at exit: $33,548

10-year hold

• IRR: -6.8%
• Equity multiple: 0.57×
• Total profit: $-27,259
• Equity at exit: $19,454

Cash invested: $63,000 (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 46815

• Active inventory: 101
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,850 high
• Mortgage (P&I): −$1,180
• Tax from tax record: −$153 /mo · $1,839/yr
• Insurance: −$94
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $34

Break-even live

Break-even rent $1,806

Max offer price $225,000

Occupancy floor 93%

Sensitivity live

Price	-10% $162	-5% $98	+0% $34	+5% $-29	+10% $-93
Rent	-10% $-112	-5% $-39	+0% $34	+5% $108	+10% $181
Rate	-1.0pp $148	-0.5pp $92	base $34	+0.5pp $-24	+1.0pp $-83

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: $56,250
• Closing costs: $6,750
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4920 Desoto Dr Fort Wayne, IN	4.0	2.0	1738	$1,924	$1.11	15d	1	0.71mi
2020 Hobson Rd Fort Wayne, IN	2.0–4.0	1.0–2.0	1340	$1,425	$1.06	15d	7	0.74mi
3715 Marigold Dr Fort Wayne, IN	4.0	2.5	2535	$2,200	$0.87	45d	1	1.05mi
1357 Lofton Way Fort Wayne, IN	3.0	2.0	1448	$1,995	$1.38	15d	1	1.19mi
2508 Woodward Ave Fort Wayne, IN	3.0	1.0	1300	$1,700	$1.31	15d	1	1.48mi

Listing history 6 events

1. 2026-06-18
   days on market $225,000 Active 6 DOM
2. 2026-06-17
   days on market $225,000 Active 5 DOM
3. 2026-06-16
   days on market $225,000 Active 4 DOM
4. 2026-06-15
   days on market $225,000 Active 3 DOM
5. 2026-06-14
   remarks 624-char remark
6. 2026-06-14
   listed $225,000 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: $1,839 · $153/mo
• Projected year-2 tax: $1,876 · $156/mo
• Expected delta: +$37/yr (+$3/mo · 2.0%)

ⓘ 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: $22,198
• − Mortgage interest: −$12,603
• − Property taxes: −$1,839
• − Insurance: −$1,125
• − Repairs & maintenance: −$1,776
• − Management: −$1,776
• − Depreciation: −$6,545
• Taxable loss: −$3,466
• Est. tax savings @ 24.0%: +$832
• After-tax cash flow: $1,246/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): 27,238
• Household income: $73,239
• Rent vs Own: 24.9% rent · 75.1% own
• Severe rent burden: 604.0

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 (78%)
• Race & ethnicity: White 78% Black 9% Two or more races 7% Asian 5% Hispanic / Latino 4%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 2%
• Foreign-born: 4% · Philippines, Canada
• Languages at home: 93% English-only · Other Asian/Pacific 4% Spanish 1% Other Indo-European 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: ▼ -219.81%
• Current HPI: 245.2095
• 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

+104.7% since first listed

3 events — show timeline

• 2026-06-12 Listed $225,000 IRMLS
• 2017-05-18 Sold (MLS) $111,500 IRMLS
• 2017-04-14 Listed $109,900 IRMLS

Property tax history

+9.4%/yr

Latest (2024): $1,839 · +4.2% YoY. Source: county tax records.