Lancia's Wilshire 5 Plan · Huntertown, IN 46818

$240,900

4 bd · 2.5 ba · 1,938 sqft · SingleFamily · 300 Days on market

Poor condition $45/mo HOA · 2% of rent

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Why this score? — see what drove the F 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).

• ARV discount +7.5/15.0
• Cash flow +6.2/30.0
• Schools +4.9/10.0
• Rent growth +4.4/5.0
• Livability +3.5/5.0
• 1% rule +1.6/10.0
• Condition / age +1.0/5.0
• DSCR +0.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS IS A SAMPLE PLAN - THIS IS NOT A HOME FOR SALE. Lancia Homes offers many different floor plan options to choose from, visit our website or call our office to see all current floor plans. Laundry room upstairs with all bedrooms, walk-in closet in bedroom 1. A huge walk-in pantry and an angled kitchen that overlooks the great room makes this home great for spending time together! Full basement available. * Base price does not include land

Key facts

• Angled kitchen
• Walk-in closet
• Huge walk-in pantry

Tags

• LAUNDRY ROOM UPSTAIRS
• WALK-IN CLOSET
• HUGE WALK-IN PANTRY
• ANGLED KITCHEN
• FULL BASEMENT

🏗️ New construction. The $240,900 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $365,299.

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $241k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $-659 ($-8k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $241k).
• Recommended offer: $212k (12.0% below list) — sets the bar for market timing.

Location & tenants

• 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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 1,861 units permitted in Allen County in 2024 (576 in 5+ unit buildings).
• This rent runs 36% of the median local income ($81k/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 $3k of loan paydown is wiped out by about $11k 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 ($212k) is reasonable based on typical stale-listing flexibility.

Recommended offer $211,992 (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. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
4. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.66% ✗
• Cap rate: 4.13%
• Cash-on-cash: -7.73%
• DSCR: 0.66
• GRM: 12.6

CMA / ARV

• ARV (median comp): $365,299
• List price: $240,900
• Delta: -34.05%
• 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
5207 Mountain Sky Cv	0.08mi	4/2.5	1,900 (-2%)	2mo	$338,000	$178	92
5029 Whittlebury Dr	0.28mi	4/2.5	1,938 (0%)	1mo	$352,900	$182	86
5116 Mountain Sky Cv	0.08mi	4/2.5	1,818 (-6%)	0mo	$374,800	$206	86
4874 Whittlebury Dr	0.38mi	4/2.5	1,994 (+3%)	1mo	$375,000	$188	77
12005 Swather Ct	0.46mi	4/2.5	1,900 (-2%)	2mo	$360,000	$189	74
12283 Hideout Pass	0.26mi	4/2.0	1,771 (-9%)	1mo	$295,115	$167	71
12204 Bozzio Rd	0.30mi	4/2.5	2,155 (+11%)	0mo	$382,000	$177	67
4684 Hammock Dr	0.33mi	3/2.0 (-1)	1,724 (-11%)	2mo	$327,000	$190	58
5091 Sickle Cv	0.37mi	3/2.0 (-1)	1,703 (-12%)	0mo	$342,200	$201	55
5591 Broad Fields Cv	0.51mi	3/2.0 (-1)	1,775 (-8%)	0mo	$386,300	$218	55
4725 Silverstone Psge	0.44mi	3/2.0 (-1)	1,716 (-12%)	2mo	$379,900	$221	52
5599 Broad Fields Cv	0.51mi	3/2.0 (-1)	1,665 (-14%)	1mo	$384,900	$231	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 · 7.64% rent growth · sell at horizon

5-year hold

• IRR: -24.7%
• Equity multiple: 0.13×
• Total profit: $-89,291
• Equity at exit: $54,467

10-year hold

• IRR: -10.5%
• Equity multiple: 0.24×
• Total profit: $-78,168
• Equity at exit: $31,584

Cash invested: $102,284 (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 46818

• Rents YoY: 7.6%
• Active inventory: 327
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $2,418 medium
• Mortgage (P&I): −$1,916
• Tax est. 1.5%: −$457 /mo · $5,479/yr
• Insurance: −$152
• HOA: −$45
• Vacancy / Maint / Mgmt: −$508
• Net cashflow: $-659

Break-even live

Break-even rent $3,253

Max offer price $269,924

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: $91,325
• Closing costs: $10,959
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
5045 Portney Pl Fort Wayne, IN	4.0	2.5	2226	$2,300	$1.03	44d	1	0.12mi
4722 Whittlebury Dr Fort Wayne, IN	4.0	2.0	1650	$1,999	$1.21	14d	1	0.30mi
3115 Carroll Rd Fort Wayne, IN	3.0	2.0	1244	$2,300	$1.85	14d	1	1.39mi

HOA detail

• Monthly dues: $45 · $540/yr

Listing history 17 events

1. 2026-06-18
   days on market $240,900 Active 300 DOM
2. 2026-06-17
   days on market $240,900 Active 299 DOM
3. 2026-06-16
   days on market $240,900 Active 298 DOM
4. 2026-06-15
   days on market $240,900 Active 297 DOM
5. 2026-06-14
   days on market $240,900 Active 295 DOM
6. 2026-06-13
   days on market $240,900 Active 294 DOM
7. 2026-06-10
   days on market $240,900 Active 292 DOM
8. 2026-06-09
   days on market $240,900 Active 291 DOM
9. 2026-06-08
   days on market $240,900 Active 290 DOM
10. 2026-06-07
    days on market $240,900 Active 289 DOM
11. 2026-06-03
    days on market $240,900 Active 285 DOM
12. 2026-06-02
    pricedays on market $240,900 Active 284 DOM
13. 2026-06-01
    days on market $236,200 Active 283 DOM
14. 2026-05-31
    days on market $236,200 Active 282 DOM
15. 2026-05-30
    days on market $236,200 Active 281 DOM
16. 2026-02-09
    price $236,200 445-char remark

    Show marketing remark (445 chars)

    THIS IS A SAMPLE PLAN - THIS IS NOT A HOME FOR SALE. Lancia Homes offers many different floor plan options to choose from, visit our website or call our office to see all current floor plans. Laundry room upstairs with all bedrooms, walk-in closet in bedroom 1. A huge walk-in pantry and an angled kitchen that overlooks the great room makes this home great for spending time together! Full basement available. * Base price does not include land

17. 2025-08-22
    listed $234,400 Active 445-char remark

    Show marketing remark (445 chars)

    THIS IS A SAMPLE PLAN - THIS IS NOT A HOME FOR SALE. Lancia Homes offers many different floor plan options to choose from, visit our website or call our office to see all current floor plans. Laundry room upstairs with all bedrooms, walk-in closet in bedroom 1. A huge walk-in pantry and an angled kitchen that overlooks the great room makes this home great for spending time together! Full basement available. * 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.

Taxation est. · year 1

• Rental income: $29,019
• − Mortgage interest: −$20,462
• − Property taxes: −$5,479
• − Insurance: −$1,826
• − Repairs & maintenance: −$2,321
• − Management: −$2,321
• − HOA: −$540
• − Depreciation: −$10,627
• Taxable loss: −$14,560
• Est. tax savings @ 24.0%: +$3,494
• After-tax cash flow: $-4,415/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 · 2 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and improvements to its exterior, interior, and landscaping to become move-in ready. Significant value can be added through updates to the roof, exterior siding, HVAC, interior walls and paint, and landscaping.

Repairs flagged

• Major roof — No visible roof photos, but the satellite image shows a large, open lot with no visible roof structure.
• Major exterior siding — No visible exterior photos, but the satellite image shows a large, open lot with no visible siding.
• Major landscaping — No visible exterior photos, but the satellite image shows a large, open lot with no visible landscaping or curb appeal.
• Major interior walls and paint — No visible interior photos, but the satellite image shows a large, open lot with no visible interior walls or paint.
• Major HVAC and mechanical systems — No visible interior photos, but the satellite image shows a large, open lot with no visible HVAC or mechanical systems.
• Major landscaping and curb appeal — No visible exterior photos, but the satellite image shows a large, open lot with no visible landscaping or curb appeal. The listing suggests a full basement, but no interior photos are provided to confirm its condition or features.

Value-add opportunities

• Both landscaping and curb appeal — A well-maintained landscape and curb appeal can significantly increase both the resale and rental value of a property.
• Both HVAC and mechanical systems — Upgrading or replacing HVAC and mechanical systems can improve comfort and energy efficiency, which can increase both the resale and rental value.
• Both interior walls and paint — Updating interior walls and paint can improve the overall appearance and appeal of the home, which can increase both the resale and rental value.
• Both roof and exterior siding — Re-roofing and repairing or replacing exterior siding can improve the home's appearance and durability, which can increase both the resale and rental value.
• Both landscaping and curb appeal — A well-maintained landscape and curb appeal can significantly increase both the resale and rental value of a property.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · No visible roof photos, but the satellite image shows a large, open lot with no visible roof structure.	Major	$15,000–50,000
exterior siding · No visible exterior photos, but the satellite image shows a large, open lot with no visible siding.	Major	$15,000–50,000
landscaping · No visible exterior photos, but the satellite image shows a large, open lot with no visible landscaping or curb appeal.	Major	$15,000–50,000
interior walls and paint · No visible interior photos, but the satellite image shows a large, open lot with no visible interior walls or paint.	Major	$15,000–50,000
HVAC and mechanical systems · No visible interior photos, but the satellite image shows a large, open lot with no visible HVAC or mechanical systems.	Major	$15,000–50,000
landscaping and curb appeal · No visible exterior photos, but the satellite image shows a large, open lot with no visible landscaping or curb appeal. The listing suggests a full basement, but no interior photos are provided to confirm its condition or features.	Major	$15,000–50,000
Total estimated repair cost · 6 items		$90,000–300,000

Value-add ROI direction

• Both landscaping and curb appeal — A well-maintained landscape and curb appeal can significantly increase both the resale and rental value of a property. ↑
• Both HVAC and mechanical systems — Upgrading or replacing HVAC and mechanical systems can improve comfort and energy efficiency, which can increase both the resale and rental value. ↑
• Both interior walls and paint — Updating interior walls and paint can improve the overall appearance and appeal of the home, which can increase both the resale and rental value. ↑
• Both roof and exterior siding — Re-roofing and repairing or replacing exterior siding can improve the home's appearance and durability, which can increase both the resale and rental value. ↑
• Both landscaping and curb appeal — A well-maintained landscape and curb appeal can significantly increase both the resale and rental value of a property. ↑

ⓘ 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 — Huntertown

• Score: 70/100
• State rank: #159
• US rank: #7771

Category grades

Amenities F Commute F Cost of living A+ Crime A Employment A+ Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Allen County · 326,813 people
• Metro: Fort Wayne, IN
• Population (ZIP): 21,954
• Household income: $81,066
• Rent vs Own: 15.6% rent · 84.4% own
• Severe rent burden: 101.0

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 (79%)
• Race & ethnicity: White 79% Two or more races 8% Hispanic / Latino 7% Black 4% Asian 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 4% Slovak 3% Romanian 2%
• Foreign-born: 8% · Canada, Vietnam, Philippines
• Languages at home: 90% English-only · Spanish 4% Other Asian/Pacific 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: ▼ -217.71%
• Current HPI: 228.1539
• Rent YoY: ▲ 7.64%
• 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

+0.8% since first listed

2 events — show timeline

• 2026-02-09 Price Changed $236,200 Zillow
• 2025-08-22 Listed $234,400 Zillow