925 Crescent Ave · Fort Wayne, IN 46805

$149,900

3 bd · 1.5 ba · 1,516 sqft · SingleFamily public records · 40 Days on market

Built 1910 4,356 sqft lot $99/sqft · 14% below area Est $175k · 14% under ↓ 12% since listing

---

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 +14.6/30.0
• ARV discount +14.0/15.0
• DSCR +4.4/10.0
• Livability +4.2/5.0
• 1% rule +4.0/10.0
• Rent growth +2.7/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Great central property located right by Lakeside Park with a beautiful view of a scenic pond across the street with a fountain! Backyard offers a welcoming space for entertaining, a basketball court, and a nice shed for extra storage. The home has a patio balcony right off the master and the basement offers additional storage space. Close to downtown activities and dining!

Key facts

• View of pond
• Patio balcony
• Basketball court

Tags

• VIEW OF POND
• BASKETBALL COURT
• PATIO BALCONY
• ADDITIONAL STORAGE SPACE
• CLOSE TO DOWNTOWN

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; 2 stories
• Construction: Vinyl and wood siding
• Exterior features: Level lot; Shed on the property

Interior

• Bedrooms: Total rooms: 7
• Bathrooms: 1 full bathroom; 1 half bathroom; One main-level bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Full basement
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $35 ($421/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 $135k (10.2% below list).
• Recommended offer: $135k (10.2% below list) — sets the bar for 1% rule.
• Cap rate 6.6% 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: Forest Park Elementary School (math 21% / reading 22%, grade F, #803 of 994 statewide, top 81%, 601 students, 75% 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; 113 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 23d 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 31% 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 $4k 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 40 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $134,670 (10.2% below list)

Questions for the listing agent

1. It's been on market 40 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.90% ✗
• Cap rate: 6.57%
• Cash-on-cash: 1.00%
• DSCR: 1.04
• GRM: 9.3

CMA / ARV

• ARV (median comp): $175,287
• List price: $149,900
• Delta: -14.48%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1126 Columbia Ave	0.08mi	3/1.5	1,568 (+3%)	2mo	$265,000	$169	89
905 Crescent Ave	0.04mi	3/1.5	1,424 (-6%)	1mo	$175,000	$123	87
1631 Columbia Ave	0.32mi	3/1.5	1,560 (+3%)	0mo	$190,500	$122	80
2007 California Ave	0.56mi	3/2.0	1,512 (-0%)	2mo	$234,900	$155	70
801 Kensington Blvd	0.50mi	4/1.5 (+1)	1,591 (+5%)	4mo	$205,000	$129	60
705 Lawton Pl	0.62mi	3/1.5	1,577 (+4%)	5mo	$179,900	$114	60
814 Kensington Blvd	0.53mi	2/2.0 (-1)	1,469 (-3%)	4mo	$195,000	$133	60
713 Harmar St	0.37mi	3/1.5	1,715 (+13%)	1mo	$67,103	$39	60
705 Riverside Ave	0.57mi	4/1.0 (+1)	1,600 (+6%)	1mo	$169,500	$106	56
1845 Alabama Ave	0.50mi	3/1.0	1,372 (-10%)	3mo	$210,000	$153	56
1910 Cody Ave	0.49mi	2/2.0 (-1)	1,664 (+10%)	2mo	$219,000	$132	52
916 Northwood Blvd	0.71mi	3/1.0	1,326 (-12%)	0mo	$160,000	$121	44

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: -17.2%
• Equity multiple: 0.40×
• Total profit: $-25,023
• Equity at exit: $22,351

10-year hold

• IRR: -14.0%
• Equity multiple: 0.27×
• Total profit: $-30,546
• Equity at exit: $12,961

Cash invested: $41,972 (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 46805

• Rents YoY: 0.8%
• Active inventory: 113
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,347 high
• Mortgage (P&I): −$786
• Tax from tax record: −$180 /mo · $2,163/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$283
• Net cashflow: $35

Break-even live

Break-even rent $1,302

Max offer price $149,900

Occupancy floor 92%

Sensitivity live

Price	-10% $120	-5% $77	+0% $35	+5% $-7	+10% $-50
Rent	-10% $-71	-5% $-18	+0% $35	+5% $88	+10% $141
Rate	-1.0pp $111	-0.5pp $73	base $35	+0.5pp $-4	+1.0pp $-43

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1206 Columbia Ave Unit 2 Fort Wayne, IN	2.0	2.0	1118	$995	$0.89	45d	1	0.06mi
1516 Bayer Ave Fort Wayne, IN	4.0	2.0	1280	$1,299	$1.01	15d	1	0.36mi
1726 Tecumseh St Fort Wayne, IN	3.0	1.0	1280	$1,350	$1.05	15d	1	0.45mi
807 Edgewater Ave Fort Wayne, IN	3.0	1.0	1075	$1,450	$1.35	23d	1	0.47mi
805 Edgewater Ave Fort Wayne, IN	3.0	1.0	1075	$1,550	$1.44	15d	1	0.47mi
919 Madison St Fort Wayne, IN	2.0	1.0	1332	$995	$0.75	45d	1	0.64mi
2008 N Anthony Blvd Fort Wayne, IN	3.0	2.5	2035	$1,825	$0.90	15d	1	0.69mi
1131 E Lewis St Fort Wayne, IN	4.0	2.0	1476	$1,950	$1.32	15d	1	0.74mi
1132 S Hanna St Unit 1 Fort Wayne, IN	4.0	1.5	1656	$1,600	$0.97	45d	1	0.76mi
1501 E Lewis St Fort Wayne, IN	4.0	1.0	2000	$1,450	$0.72	45d	1	0.76mi
2508 Woodward Ave Fort Wayne, IN	3.0	1.0	1300	$1,700	$1.31	15d	1	1.08mi
607 Curdes Ave Fort Wayne, IN	3.0	1.5	1072	$1,450	$1.35	23d	1	1.19mi
2403 N Clinton St Fort Wayne, IN	3.0	2.0	1666	$1,750	$1.05	45d	1	1.21mi
859 Buchanan St Fort Wayne, IN	1.0–4.0	1.0	887	$1,074	$1.21	23d	1	1.24mi
2315 Terrace Rd Fort Wayne, IN	3.0	1.0	1466	$1,600	$1.09	45d	1	1.25mi
1311 Ferguson Ave Fort Wayne, IN	2.0	2.0	1400	$1,700	$1.21	15d	1	1.34mi
2020 Hobson Rd Fort Wayne, IN	2.0–4.0	1.0–2.0	1340	$1,135	$0.85	15d	7	1.41mi
1911 Hazelwood Ave Fort Wayne, IN	1.0–3.0	1.0–2.5	910	$1,375	$1.51	23d	3	1.41mi
1250 Ewing St Fort Wayne, IN	2.0	1.0–2.0	980	$2,081	$2.12	23d	24	1.43mi

Listing history 17 events

1. 2026-06-22
   days on market $149,900 Active 40 DOM
2. 2026-06-18
   days on market $149,900 Active 37 DOM
3. 2026-06-17
   days on market $149,900 Active 36 DOM
4. 2026-06-16
   days on market $149,900 Active 35 DOM
5. 2026-06-15
   price $149,900 Active 34 DOM
6. 2026-06-15
   days on market $154,900 Active 34 DOM
7. 2026-06-14
   days on market $154,900 Active 32 DOM
8. 2026-06-10
   days on market $154,900 Active 29 DOM
9. 2026-06-09
   days on market $154,900 Active 28 DOM
10. 2026-06-08
    days on market $154,900 Active 27 DOM
11. 2026-06-07
    days on market $154,900 Active 26 DOM
12. 2026-06-03
    days on market $154,900 Active 22 DOM
13. 2026-06-02
    days on market $154,900 Active 21 DOM
14. 2026-06-01
    pricedays on market $154,900 Active 20 DOM
15. 2026-05-31
    days on market $159,900 Active 19 DOM
16. 2026-05-30
    days on market $159,900 Active 18 DOM
17. 2026-05-12
    listed $169,900 Active 375-char remark

ⓘ 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: $2,163 · $180/mo
• Projected year-2 tax: $2,163 · $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: $16,160
• − Mortgage interest: −$8,397
• − Property taxes: −$2,163
• − Insurance: −$750
• − Repairs & maintenance: −$1,293
• − Management: −$1,293
• − Depreciation: −$4,361
• Taxable loss: −$2,096
• Est. tax savings @ 24.0%: +$503
• After-tax cash flow: $924/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

-11.8% since first listed

4 events — show timeline

• 2026-06-15 Price Changed $149,900 IRMLS
• 2026-06-01 Price Changed $154,900 IRMLS
• 2026-05-26 Price Changed $159,900 IRMLS
• 2026-05-12 Listed $169,900 IRMLS

Property tax history

+16.5%/yr

Latest (2024): $2,163 · +21.6% YoY. Source: county tax records.