Lancia's Wingate II Plan · Fort Wayne, IN 46845

$202,500

3 bd · 2.0 ba · 1,228 sqft · SingleFamily · 300 Days on market

Excellent condition $50/mo HOA · 3% of rent

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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 +7.8/30.0
• ARV discount +7.5/15.0
• Rent growth +5.0/5.0
• Schools +4.9/10.0
• Condition / age +4.8/5.0
• Livability +4.2/5.0
• 1% rule +2.6/10.0
• DSCR +1.9/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS IS A SAMPLE PLAN - THIS IS NOT A HOME FOR SALE. Very open floorplan! Cathedral ceiling in Great Room connecting it to the Nook and Kitchen. 3rd Bedroom could be transformed into an Office or Bonus Room! Separate Laundry Room with closet is located off garage. Owner Suite Bedroom 1 has a walk-in closet and private bath. * Base price does not include land

Key facts

• Kitchen
• Laundry room
• Open floorplan

Tags

• OPEN FLOORPLAN
• CATHEDRAL CEILING
• GREAT ROOM
• NOOK
• KITCHEN
• LAUNDRY ROOM

🏗️ New construction. The $202,500 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $257,687.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $202k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-282 ($-3k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $196k (3.2% below list).
• Recommended offer: $178k (12.0% below list) — sets the bar for market timing.

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-, schools D+, employment D+.
• 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 (+10.5%/yr); 220 active listings in the ZIP; 2 comparable units currently listed for rent nearby; high-income renter base; 1,861 units permitted in Allen County in 2024 (576 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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 300 days — a 12% lower offer ($178k) is reasonable based on typical stale-listing flexibility.

Recommended offer $178,200 (12.0% below list)

Questions for the listing agent

1. 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?
2. It's been on market 300 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 0.76% ✗
• Cap rate: 4.98%
• Cash-on-cash: -4.69%
• DSCR: 0.79
• GRM: 11.0

CMA / ARV

• ARV (median comp): $257,687
• List price: $202,500
• Delta: -21.42%
• 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
417 Rampart Dr	0.38mi	3/2.0	1,266 (+3%)	4mo	$255,000	$201	74
11724 Coldwater Rd	0.15mi	3/2.0	1,344 (+9%)	10mo	$265,000	$197	69
1718 Monet Cv	0.66mi	3/2.0	1,227 (-0%)	1mo	$265,000	$216	68
12412 Stoneboro Ct	0.50mi	3/2.0	1,310 (+7%)	0mo	$266,000	$203	65
1809 Monet Dr	0.74mi	3/2.0	1,265 (+3%)	3mo	$266,100	$210	58
434 Rampart Dr	0.35mi	3/2.0	1,356 (+10%)	12mo	$246,400	$182	56
12511 Falcatta Dr	0.54mi	3/2.0	1,154 (-6%)	11mo	$245,000	$212	56
109 Kittridge Ln	0.55mi	3/2.0	1,309 (+7%)	10mo	$242,500	$185	55
214 Rampart Dr	0.44mi	3/2.5	1,329 (+8%)	13mo	$260,000	$196	53
12625 Stoneboro Ct	0.63mi	3/2.0	1,366 (+11%)	4mo	$257,500	$189	48
12531 Stoneboro Ct	0.59mi	3/2.5	1,392 (+13%)	6mo	$240,000	$172	43
12523 Falcatta Drive Dr	0.55mi	3/2.5	1,344 (+9%)	17mo	$263,000	$196	43

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -18.6%
• Equity multiple: 0.32×
• Total profit: $-49,294
• Equity at exit: $38,422

10-year hold

• IRR: -3.2%
• Equity multiple: 0.74×
• Total profit: $-18,648
• Equity at exit: $22,280

Cash invested: $72,152 (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 46845

• Home prices YoY: -34.6%
• Rents YoY: 10.5%
• Active inventory: 220
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,961 medium
• Mortgage (P&I): −$1,351
• Tax est. 1.5%: −$322 /mo · $3,865/yr
• Insurance: −$107
• HOA: −$50
• Vacancy / Maint / Mgmt: −$412
• Net cashflow: $-282

Break-even live

Break-even rent $2,317

Max offer price $216,884

Occupancy floor —

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: $64,422
• Closing costs: $7,731
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
10617 Wood Flower Ct Fort Wayne, IN	2.0	1.0	1240	$1,695	$1.37	44d	1	1.32mi
401 Augusta Way Fort Wayne, IN	1.0–3.0	1.0–2.0	1198	$1,765	$1.47	14d	14	1.35mi

HOA detail

• Monthly dues: $50 · $600/yr

Listing history 17 events

1. 2026-06-18
   days on market $202,500 Active 300 DOM
2. 2026-06-17
   days on market $202,500 Active 299 DOM
3. 2026-06-16
   days on market $202,500 Active 298 DOM
4. 2026-06-15
   days on market $202,500 Active 297 DOM
5. 2026-06-14
   days on market $202,500 Active 295 DOM
6. 2026-06-13
   days on market $202,500 Active 294 DOM
7. 2026-06-10
   days on market $202,500 Active 292 DOM
8. 2026-06-09
   days on market $202,500 Active 291 DOM
9. 2026-06-08
   days on market $202,500 Active 290 DOM
10. 2026-06-07
    days on market $202,500 Active 289 DOM
11. 2026-06-03
    days on market $202,500 Active 285 DOM
12. 2026-06-02
    pricedays on market $202,500 Active 284 DOM
13. 2026-06-01
    days on market $198,800 Active 283 DOM
14. 2026-05-31
    days on market $198,800 Active 282 DOM
15. 2026-05-30
    days on market $198,800 Active 281 DOM
16. 2026-02-09
    price $198,800 360-char remark

    Show marketing remark (360 chars)

    THIS IS A SAMPLE PLAN - THIS IS NOT A HOME FOR SALE. Very open floorplan! Cathedral ceiling in Great Room connecting it to the Nook and Kitchen. 3rd Bedroom could be transformed into an Office or Bonus Room! Separate Laundry Room with closet is located off garage. Owner Suite Bedroom 1 has a walk-in closet and private bath. * Base price does not include land

17. 2025-08-22
    listed $196,900 Active 360-char remark

    Show marketing remark (360 chars)

    THIS IS A SAMPLE PLAN - THIS IS NOT A HOME FOR SALE. Very open floorplan! Cathedral ceiling in Great Room connecting it to the Nook and Kitchen. 3rd Bedroom could be transformed into an Office or Bonus Room! Separate Laundry Room with closet is located off garage. Owner Suite Bedroom 1 has a walk-in closet and private bath. * Base price does not include land

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 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: $23,527
• − Mortgage interest: −$14,434
• − Property taxes: −$3,865
• − Insurance: −$1,288
• − Repairs & maintenance: −$1,882
• − Management: −$1,882
• − HOA: −$600
• − Depreciation: −$7,496
• Taxable loss: −$7,922
• Est. tax savings @ 24.0%: +$1,901
• After-tax cash flow: $-1,482/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.

Condition & rehab AI · 13 photos

Excellent 95/100 None rehab

This home is in excellent condition with a modern floor plan and well-maintained exterior. It has the potential to be further enhanced with minor updates to increase its value.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Landscaping improvements — A well-maintained yard can increase both resale and rental value.
• Both Adding smart home features — Smart home features can increase both resale and rental value by making the home more modern and convenient for potential buyers/tenants.
• Both Upgrading the kitchen appliances — Modern appliances can make the kitchen more functional and appealing to potential buyers/tenants.
• Both Upgrading the bathrooms with modern fixtures — Modern fixtures can make the bathrooms more functional and appealing to potential buyers/tenants.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — A well-maintained yard can increase both resale and rental value. ↑
• Both Adding smart home features — Smart home features can increase both resale and rental value by making the home more modern and convenient for potential buyers/tenants. ↑
• Both Upgrading the kitchen appliances — Modern appliances can make the kitchen more functional and appealing to potential buyers/tenants. ↑
• Both Upgrading the bathrooms with modern fixtures — Modern fixtures can make the bathrooms more functional and appealing to potential buyers/tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Northwest Allen County Schools
• NCES district ID: 1808250
• Math proficiency: 51% ▼ -6.00%
• Reading proficiency: 58% ▼ -5.00%
• Median HH income: $78,952
• Composite: 49.26/100
• National rank: #2027
• State rank: #25 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

• County: Allen County · 326,813 people
• City population: 326,813
• Metro: Fort Wayne, IN
• Population (ZIP): 29,583
• Household income: $112,676
• Rent vs Own: 16.0% rent · 84.0% own
• Severe rent burden: 467.0

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 (86%)
• Race & ethnicity: White 86% Asian 4% Two or more races 4% Hispanic / Latino 3% Black 3%
• Common ancestry: Italian 4% Romanian 3% Lithuanian 3%
• Foreign-born: 5% · Vietnam, Canada, China
• Languages at home: 93% English-only · Spanish 2% Chinese 1% Vietnamese 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: ▼ -112.27%
• Current HPI: 212.3516
• Rent YoY: ▲ 10.47%
• 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

+1.0% since first listed

2 events — show timeline

• 2026-02-09 Price Changed $198,800 Zillow
• 2025-08-22 Listed $196,900 Zillow