1025 Rivermet Ave · Fort Wayne, IN 46805

$159,900

3 bd · 2.0 ba · 1,533 sqft · SingleFamily public records · 113 Days on market

Built 1880 6,750 sqft lot Est $189k · 15% under

---

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 +14.5/30.0
• ARV discount +14.3/15.0
• DSCR +4.4/10.0
• Livability +4.2/5.0
• 1% rule +3.9/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Currently have multiple offers. Best and highest offers due by 7pm 2/10/21. Completely move in ready. You won't want to miss this great house located just a short walk from downtown Fort Wayne, the trail system, coffee shops, restaurants and the River Greenway. Featuring a covered wrap around porch that catches your eye as you pull up with plenty of sitting space. Entering the front door, you'll notice the nice high ceilings, wood laminate floors throughout, newer carpet and new fresh paint. To the right of the entry is the nice sized living room with big windows. The dining room has a wall of windows that sits in the middle of the house. The oversized kitchen is great for the chef in the house and entertaining. The stainless steel appliances add a modern feel to this classic home. Just off the dining room is a full updated bathroom and den/study area with the stairway leading to the second floor. At the top of the stairs you have 3 good sized bedrooms, all newer carpet and fully updated bathroom with plenty of space. Off the kitchen is a laundry room that could also be a pantry as there is another full laundry room at the back of the kitchen on your way out to the back yard. The fenced in backyard and concrete patio is a nice addition for privacy and entertaining.

Key facts

• Tall ceilings
• Historic charm
• True walkability

Tags

• COVERED WRAP-AROUND PORCH
• TALL CEILINGS
• UPDATED FLOORING
• HISTORIC CHARM
• TRUE WALKABILITY

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; One story; Aluminum siding
• Construction: Shingle roof; Block foundation; Built with aluminum siding
• Exterior features: Level lot; Asphalt road access; Publicly maintained road; Shed(s)

Interior

• Kitchen: Refrigerator; Gas oven; Gas range
• Flooring: Hardwood; Carpet; Laminate
• Bathrooms: 2 full bathrooms; 1 main-level bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Refrigerator; Gas oven and gas range; Hardwood, carpet and laminate flooring; Has basement (crawl space, partial, unfinished); 6 total rooms
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $160k.

Deal economics

• At list price, monthly cash flow is $35 ($424/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 $142k (11.3% below list).
• Recommended offer: $142k (11.3% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: Franke Park Elementary School (math 27% / reading 27%, grade F, #737 of 994 statewide, top 76%, 405 students, 78% FRL); Lakeside Middle School (math 8% / reading 17%, grade F, #310 of 330 statewide, top 94%, 502 students, 78% FRL); North Side High School (math 19% / reading 51%, grade F, #266 of 369 statewide, top 73%, 1,474 students, 66% FRL).
• Market conditions: Rents flat; 108 active listings in the ZIP; 24 comparable units currently listed for rent nearby; rentals at typical pace (median 22d 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 33% of the median local income ($52k/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 $1k of loan paydown is wiped out by about $5k 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

• It's been on market 113 days — a 9% lower offer ($146k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1880 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $141,797 (11.3% below list)

Questions for the listing agent

1. It's been on market 113 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1880 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.89% ✗
• Cap rate: 6.56%
• Cash-on-cash: 0.95%
• DSCR: 1.04
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $188,559
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1126 Columbia Ave	0.19mi	3/1.5	1,568 (+2%)	2mo	$265,000	$169	83
905 Crescent Ave	0.25mi	3/1.5	1,424 (-7%)	1mo	$175,000	$123	74
2007 California Ave	0.57mi	3/2.0	1,512 (-1%)	2mo	$234,900	$155	70
705 Lawton Pl	0.41mi	3/1.5	1,577 (+3%)	5mo	$179,900	$114	70
1631 Columbia Ave	0.55mi	3/1.5	1,560 (+2%)	0mo	$190,500	$122	69
705 Riverside Ave	0.35mi	4/1.0 (+1)	1,600 (+4%)	1mo	$169,500	$106	67
725 Romy Ave	0.51mi	3/1.0	1,488 (-3%)	5mo	$110,000	$74	63
713 Harmar St	0.38mi	3/1.5	1,715 (+12%)	1mo	$67,103	$39	59
1845 Alabama Ave	0.54mi	3/1.0	1,372 (-10%)	3mo	$210,000	$153	50
801 Kensington Blvd	0.75mi	4/1.5 (+1)	1,591 (+4%)	4mo	$205,000	$129	49
916 Northwood Blvd	0.59mi	3/1.0	1,326 (-14%)	0mo	$160,000	$121	46
1910 Cody Ave	0.74mi	2/2.0 (-1)	1,664 (+8%)	2mo	$219,000	$132	45

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 · 0.75% rent growth · sell at horizon

5-year hold

• IRR: -17.3%
• Equity multiple: 0.40×
• Total profit: $-26,790
• Equity at exit: $23,842

10-year hold

• IRR: -14.1%
• Equity multiple: 0.27×
• Total profit: $-32,709
• Equity at exit: $13,825

Cash invested: $44,772 (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 46805

• Rents YoY: 0.8%
• Active inventory: 108
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,418 high
• Mortgage (P&I): −$839
• Tax from tax record: −$180 /mo · $2,156/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$298
• Net cashflow: $35

Break-even live

Break-even rent $1,373

Max offer price $159,900

Occupancy floor 93%

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: $39,975
• Closing costs: $4,797
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1516 Bayer Ave Fort Wayne, IN	4.0	2.0	1280	$1,299	$1.01	14d	1	0.20mi
1206 Columbia Ave Unit 2 Fort Wayne, IN	2.0	2.0	1118	$995	$0.89	44d	1	0.21mi
1726 Tecumseh St Fort Wayne, IN	3.0	1.0	1280	$1,350	$1.05	14d	1	0.34mi
807 Edgewater Ave Fort Wayne, IN	3.0	1.0	1075	$1,450	$1.35	21d	1	0.36mi
805 Edgewater Ave Fort Wayne, IN	3.0	1.0	1075	$1,550	$1.44	14d	1	0.36mi
919 Madison St Fort Wayne, IN	2.0	1.0	1332	$995	$0.75	44d	1	0.69mi
1132 S Hanna St Unit 1 Fort Wayne, IN	4.0	1.5	1656	$1,600	$0.97	44d	1	0.73mi
2008 N Anthony Blvd Fort Wayne, IN	3.0	2.5	2035	$1,825	$0.90	14d	1	0.81mi
1131 E Lewis St Fort Wayne, IN	4.0	2.0	1476	$1,950	$1.32	14d	1	0.83mi
1501 E Lewis St Fort Wayne, IN	4.0	1.0	2000	$1,450	$0.72	44d	1	0.93mi
2403 N Clinton St Fort Wayne, IN	3.0	2.0	1666	$1,750	$1.05	44d	1	0.98mi
2315 Terrace Rd Fort Wayne, IN	3.0	1.0	1466	$1,600	$1.09	44d	1	1.01mi
607 Curdes Ave Fort Wayne, IN	3.0	1.5	1072	$1,450	$1.35	21d	1	1.03mi
2508 Woodward Ave Fort Wayne, IN	3.0	1.0	1300	$1,700	$1.31	14d	1	1.18mi
1250 Ewing St Fort Wayne, IN	2.0	1.0–2.0	980	$2,081	$2.12	21d	24	1.28mi
1311 Ferguson Ave Fort Wayne, IN	2.0	2.0	1400	$1,700	$1.21	14d	1	1.30mi
859 Buchanan St Fort Wayne, IN	1.0–4.0	1.0	887	$1,074	$1.21	21d	1	1.30mi
739 W 4th St Fort Wayne, IN	4.0	2.0	1750	$1,995	$1.14	14d	1	1.32mi
702 Archer Ave Fort Wayne, IN	3.0	1.5	1273	$1,499	$1.18	44d	1	1.32mi
835 Van Buren St Fort Wayne, IN	2.0	1.0–2.0	750	$1,995	$2.66	14d	29	1.36mi
603 Lavina St Fort Wayne, IN	3.0	2.0	1872	$1,899	$1.01	44d	1	1.43mi
1911 Hazelwood Ave Fort Wayne, IN	1.0–3.0	1.0–2.5	910	$1,375	$1.51	21d	3	1.46mi
901 W Wayne St Unit 3 Fort Wayne, IN	2.0	2.0	1312	$1,700	$1.30	44d	1	1.46mi
217 W Masterson Ave Fort Wayne, IN	2.0	1.0	1100	$995	$0.90	21d	1	1.46mi

Listing history 15 events

1. 2026-06-08
   status $159,900 Pending 113 DOM
2. 2026-06-07
   statusdays on market $159,900 Active 113 DOM
3. 2026-06-03
   days on market $159,900 Active Under Contract 109 DOM
4. 2026-06-02
   days on market $159,900 Active Under Contract 108 DOM
5. 2026-06-01
   days on market $159,900 Active Under Contract 107 DOM
6. 2026-05-31
   days on market $159,900 Active Under Contract 106 DOM
7. 2026-05-30
   days on market $159,900 Active Under Contract 105 DOM
8. 2026-03-24
   historical Active Under Contract
9. 2026-03-12
   price $159,900
10. 2026-02-14
    listed $169,900 Active
11. 2021-03-26
    soldstatus $140,000 1287-char remark

    Show marketing remark (1287 chars)

    Currently have multiple offers. Best and highest offers due by 7pm 2/10/21. Completely move in ready. You won't want to miss this great house located just a short walk from downtown Fort Wayne, the trail system, coffee shops, restaurants and the River Greenway. Featuring a covered wrap around porch that catches your eye as you pull up with plenty of sitting space. Entering the front door, you'll notice the nice high ceilings, wood laminate floors throughout, newer carpet and new fresh paint. To the right of the entry is the nice sized living room with big windows. The dining room has a wall of windows that sits in the middle of the house. The oversized kitchen is great for the chef in the house and entertaining. The stainless steel appliances add a modern feel to this classic home. Just off the dining room is a full updated bathroom and den/study area with the stairway leading to the second floor. At the top of the stairs you have 3 good sized bedrooms, all newer carpet and fully updated bathroom with plenty of space. Off the kitchen is a laundry room that could also be a pantry as there is another full laundry room at the back of the kitchen on your way out to the back yard. The fenced in backyard and concrete patio is a nice addition for privacy and entertaining.

12. 2021-02-09
    listed $134,900 1287-char remark

    Show marketing remark (1287 chars)

    Currently have multiple offers. Best and highest offers due by 7pm 2/10/21. Completely move in ready. You won't want to miss this great house located just a short walk from downtown Fort Wayne, the trail system, coffee shops, restaurants and the River Greenway. Featuring a covered wrap around porch that catches your eye as you pull up with plenty of sitting space. Entering the front door, you'll notice the nice high ceilings, wood laminate floors throughout, newer carpet and new fresh paint. To the right of the entry is the nice sized living room with big windows. The dining room has a wall of windows that sits in the middle of the house. The oversized kitchen is great for the chef in the house and entertaining. The stainless steel appliances add a modern feel to this classic home. Just off the dining room is a full updated bathroom and den/study area with the stairway leading to the second floor. At the top of the stairs you have 3 good sized bedrooms, all newer carpet and fully updated bathroom with plenty of space. Off the kitchen is a laundry room that could also be a pantry as there is another full laundry room at the back of the kitchen on your way out to the back yard. The fenced in backyard and concrete patio is a nice addition for privacy and entertaining.

13. 2019-09-27
    listed $132,500
14. 2017-05-25
    soldstatus $115,000
15. 2017-04-25
    listed $109,900

ⓘ 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: $2,156 · $180/mo
• Projected year-2 tax: $2,156 · $180/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 5/10 Major FEMA zone X · 24% 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: $17,016
• − Mortgage interest: −$8,957
• − Property taxes: −$2,156
• − Insurance: −$800
• − Repairs & maintenance: −$1,361
• − Management: −$1,361
• − Depreciation: −$4,652
• Taxable loss: −$2,271
• Est. tax savings @ 24.0%: +$545
• After-tax cash flow: $969/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): 21,437
• Household income: $52,154
• Rent vs Own: 42.6% rent · 57.4% own
• Severe rent burden: 904.0

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 (72%)
• Race & ethnicity: White 72% Black 9% Two or more races 8% Hispanic / Latino 7% Asian 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Lithuanian 3% Slovak 3% Italian 2%
• Foreign-born: 6% · Philippines, Canada
• Languages at home: 91% English-only · Other Asian/Pacific 3% Spanish 3%

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: ▼ -356.64%
• Current HPI: 286.2643
• Rent YoY: ▲ 0.75%
• 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

+45.5% since first listed

8 events — show timeline

• 2026-03-24 Contingent — IRMLS
• 2026-03-12 Price Changed $159,900 IRMLS
• 2026-02-14 Listed $169,900 IRMLS
• 2021-03-26 Sold (MLS) $140,000 IRMLS
• 2021-02-09 Listed $134,900 IRMLS
• 2019-09-27 Listed $132,500 IRMLS
• 2017-05-25 Sold (MLS) $115,000 IRMLS
• 2017-04-25 Listed $109,900 IRMLS

Property tax history

+0.1%/yr

Latest (2024): $2,156 · +24.1% YoY. Source: county tax records.