2109 Maumee Ave · Fort Wayne, IN 46803

$135,000

3 bd · 1.5 ba · 1,408 sqft · SingleFamily public records · 29 Days on market

Built 1920 3,750 sqft lot Est $142k · 5% under

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Why this score? — see what drove the C 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 +17.1/30.0
• Appreciation +10.0/10.0
• ARV discount +9.8/15.0
• DSCR +5.3/10.0
• 1% rule +4.5/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0

Listing remarks

This beautifully updated 3-bedroom, 1.5-bath home offers approximately 1,400 square feet of comfortable living space in a convenient location near Indiana Tech. The interior features brand-new cabinets, fresh flooring, new carpet, and modern paint throughout, giving the home a clean, move-in-ready feel. The spacious layout provides a welcoming living area, a bright kitchen with updated cabinetry, and well-sized bedrooms perfect for family, guests, or a home office. The 1.5 bathrooms add convenience for daily living, while the thoughtful updates bring a modern touch to this charming home. Located just minutes from campus, shopping, dining, and major routes, this property offers both comfort

Key facts

• Fresh flooring
• Bright kitchen
• Well-sized bedrooms

Tags

• UPDATED CABINETS
• FRESH FLOORING
• MODERN PAINT
• BRIGHT KITCHEN
• WELL-SIZED BEDROOMS
• 1.5 BATHROOMS

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $135k.

Deal economics

• At list price, monthly cash flow is $95 ($1k/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 $128k (5.1% below list).
• Recommended offer: $128k (5.1% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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: 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: 52 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 1,861 units permitted in Allen County in 2024 (576 in 5+ unit buildings).

Forward outlook

• In year one you build about $14k of equity ($933 loan paydown + $14k appreciation (10.0% local appreciation)).
• Allen County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $38k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($133k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 12y 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 $110k; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $128,053 (5.1% below list)

Questions for the listing agent

1. Built in 1920 — 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. 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.
5. 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.
6. 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: 0.95% ✗
• Cap rate: 7.14%
• Cash-on-cash: 3.01%
• DSCR: 1.13
• GRM: 8.8

CMA / ARV

• ARV (on-the-fly): $142,208
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2109 Maumee Ave	0.00mi	3/1.5	1,408 (0%)	1mo	$110,000	$78	99
1107 Grant Ave	0.14mi	3/2.0	1,416 (+1%)	0mo	$184,900	$131	90
1323 Grant Ave	0.15mi	2/1.0 (-1)	1,463 (+4%)	2mo	$80,000	$55	78
2416 Maumee Ave	0.22mi	3/1.0	1,536 (+9%)	9mo	$68,000	$44	65
2431 New Haven Ave	0.55mi	3/1.0	1,355 (-4%)	2mo	$115,000	$85	64
1337 Wabash Ave	0.15mi	4/1.5 (+1)	1,602 (+14%)	0mo	$176,000	$110	64
2727 Winch St	0.43mi	3/1.0	1,536 (+9%)	2mo	$152,000	$99	61
814 Kensington Blvd	0.53mi	2/2.0 (-1)	1,469 (+4%)	4mo	$195,000	$133	58
1429 E Lewis St	0.44mi	3/1.0	1,604 (+14%)	4mo	$120,000	$75	51
801 Kensington Blvd	0.53mi	4/1.5 (+1)	1,591 (+13%)	4mo	$205,000	$129	45
3006 Pennsylvania St	0.62mi	4/2.0 (+1)	1,320 (-6%)	10mo	$169,000	$128	45
3032 Mcdonald St	0.69mi	2/1.0 (-1)	1,275 (-9%)	2mo	$128,500	$101	44

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 26.5%
• Equity multiple: 3.11×
• Total profit: $79,573
• Equity at exit: $121,619

10-year hold

• IRR: 23.2%
• Equity multiple: 7.07×
• Total profit: $229,598
• Equity at exit: $262,275

Cash invested: $37,800 (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 46803

• Active inventory: 52
• Price-to-rent: 8.8×

Monthly cashflow live

• Estimated rent: $1,281 high
• Mortgage (P&I): −$708
• Tax from tax record: −$153 /mo · $1,831/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $95

Break-even live

Break-even rent $1,161

Max offer price $135,000

Occupancy floor 88%

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2730 Chestnut St Fort Wayne, IN	3.0	1.5	1312	$950	$0.72	21d	1	0.61mi
2806 New Haven Ave Fort Wayne, IN	3.0	1.0	1410	$1,125	$0.80	21d	1	0.67mi
1131 E Lewis St Fort Wayne, IN	4.0	2.0	1476	$1,950	$1.32	13d	1	0.68mi
919 Madison St Fort Wayne, IN	2.0	1.0	1332	$995	$0.75	43d	1	0.80mi
1206 Columbia Ave Unit 2 Fort Wayne, IN	2.0	2.0	1118	$995	$0.89	43d	1	0.97mi
859 Buchanan St Fort Wayne, IN	1.0–4.0	1.0	887	$1,074	$1.21	21d	1	0.98mi
1132 S Hanna St Unit 1 Fort Wayne, IN	4.0	1.5	1656	$1,600	$0.97	43d	1	1.01mi
2720 Queen St Fort Wayne, IN	3.0	2.0	1316	$1,395	$1.06	13d	1	1.08mi
807 Edgewater Ave Fort Wayne, IN	3.0	1.0	1075	$1,450	$1.35	21d	1	1.10mi
805 Edgewater Ave Fort Wayne, IN	3.0	1.0	1075	$1,550	$1.44	13d	1	1.10mi
2903 Queen St Fort Wayne, IN	3.0	2.0	1460	$1,200	$0.82	43d	1	1.15mi
1516 Bayer Ave Fort Wayne, IN	4.0	2.0	1280	$1,299	$1.01	13d	1	1.29mi
3009 Holton Ave Fort Wayne, IN	3.0	1.0	1212	$1,400	$1.16	13d	1	1.36mi
1726 Tecumseh St Fort Wayne, IN	3.0	1.0	1280	$1,350	$1.05	13d	1	1.37mi
420 E Dewald St Fort Wayne, IN	3.0	1.5	1472	$1,300	$0.88	43d	1	1.39mi
1838 Kentucky Ave Fort Wayne, IN	2.0	1.0	884	$975	$1.10	43d	1	1.41mi
101 Three Rivers N Fort Wayne, IN	2.0	1.0	760	$2,102	$2.76	21d	11	1.42mi
1024 Colerick St Fort Wayne, IN	4.0	1.0	1388	$1,065	$0.77	21d	1	1.45mi
2020 Hobson Rd Fort Wayne, IN	2.0–4.0	1.0–2.0	1340	$1,135	$0.85	13d	7	1.48mi

Listing history 15 events

1. 2026-05-19
   soldstatus $110,000 Closed
2. 2026-04-14
   status Pending
3. 2026-03-16
   listed $135,000 Active
4. 2025-11-21
   price $125,000
5. 2025-10-29
   price $129,900
6. 2025-10-13
   price $135,000
7. 2025-09-25
   price $138,500
8. 2025-09-09
   listed $140,000 Active
9. 2022-06-27
   soldstatus $70,000 Closed
10. 2022-05-10
    historical
11. 2022-05-06
    listed $70,000
12. 2020-03-20
    listed $45,000
13. 2015-11-20
    soldstatus $23,000
14. 2015-07-22
    listed $24,900
15. 2014-02-03
    listed $24,900

ⓘ 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: $1,831 · $153/mo
• Projected year-2 tax: $1,831 · $153/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 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: $15,366
• − Mortgage interest: −$7,562
• − Property taxes: −$1,831
• − Insurance: −$675
• − Repairs & maintenance: −$1,229
• − Management: −$1,229
• − Depreciation: −$3,927
• Taxable loss: −$1,088
• Est. tax savings @ 24.0%: +$261
• After-tax cash flow: $1,399/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): 10,994
• Household income: $34,381
• Rent vs Own: 56.4% rent · 43.6% own
• Severe rent burden: 660.0

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: Diverse neighborhood (Simpson 0.69)
• Race & ethnicity: Black 42% White 27% Hispanic / Latino 24% Two or more races 10% Native American 2% Asian 1%
• Hispanic origin (detail): Mexican 17% Puerto Rican 1%
• Common ancestry: Lithuanian 1% Iranian 1% Serbian 1%
• Foreign-born: 11% · Canada, Philippines
• Languages at home: 81% English-only · Spanish 16% Other Asian/Pacific 1% French/Haitian/Cajun 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: ▲ 107.58%
• Current HPI: 404.7976
• 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

+341.8% since first listed

15 events — show timeline

• 2026-05-19 Sold (MLS) $110,000 IRMLS
• 2026-04-14 Pending — IRMLS
• 2026-03-16 Listed $135,000 IRMLS
• 2025-11-21 Price Changed $125,000 IRMLS
• 2025-10-29 Price Changed $129,900 IRMLS
• 2025-10-13 Price Changed $135,000 IRMLS
• 2025-09-25 Price Changed $138,500 IRMLS
• 2025-09-09 Listed $140,000 IRMLS
• 2022-06-27 Sold (MLS) $70,000 IRMLS
• 2022-05-10 Delisted — IRMLS
• 2022-05-06 Listed $70,000 IRMLS
• 2020-03-20 Listed $45,000 IRMLS
• 2015-11-20 Sold (MLS) $23,000 IRMLS
• 2015-07-22 Listed $24,900 IRMLS
• 2014-02-03 Listed $24,900 IRMLS

Property tax history

+12.6%/yr

Latest (2024): $1,831 · +16.6% YoY. Source: county tax records.