4440 Katfur Ct

Huntertown, IN 46818

$349,220D

5 bd · 3.0 ba · 2,600 sqft · Built 2026 · SingleFamily · Active · 2 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $2,783/mo
• Mortgage (P&I): −$1,831
• Tax + insurance: −$582
• HOA: −$34
• Vac / Maint / Mgmt: −$584
• Net cashflow: $-249/mo
• Annual: $-2,988/yr
• Cap rate: 5.44%
• Cash-on-cash: -3.06%
• DSCR: 0.86
• 1% rule: 0.80%
• Cash to close: $97,782

Investor read

• This is a 5-bed/3.0-bath single-family listed at $349k.
• At list price, monthly cash flow is $-249 ($-3k/yr) — negative.
• To cash-flow at today's rent, offer at most $313k (10.3% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $278k (20.3% below list).
• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $278k (20.3% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $10k of value loss. Plan a longer hold.
• Location reads 70/100 on livability (#159 in IN) — a middle-class / working-renter tenant base. Strengths: employment A+, cost of living A+, housing A+; Watch: amenities F, commute F, health & safety F.
• 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.
• Market conditions: Rents rising fast (+7.6%/yr); 327 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 1,861 units permitted in Allen County in 2024 (576 in 5+ unit buildings).
• Allen County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Cap rate 5.4% vs local median 4.1% in Huntertown — 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.
• This rent runs 41% of the median local income ($81k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• 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.
• 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.
• 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.