3210 Arrowwood Dr · Fort Wayne, IN 46815

$215,000

3 bd · 2.0 ba · 1,843 sqft · SingleFamily public records · 153 Days on market

Built 1970 10,799 sqft lot Est $260k · 17% under

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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).

• ARV discount +15.0/15.0
• Cash flow +14.0/30.0
• DSCR +4.2/10.0
• Livability +4.2/5.0
• 1% rule +3.6/10.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

Back on the market and wont last long! This sprawling ranch home is in the sought-after Blackhawk Subdivision! With 1,890 sq ft of comfortable living space, this 3-bedroom, 2-bath home features an expansive primary suite with a private seating area or study — perfect for remote work or a quiet retreat. Enjoy newer flooring throughout the main living areas, a cozy wood-burning stove, and a bright 4-season room that extends your living space year-round. The fenced backyard offers both privacy and room to play or entertain, while the rare 3-car garage includes a heated third bay — ideal for a workshop, hobby space, or extra storage. Additional highlights include a new roof and char

Key facts

• 4 season room
• Private seating area
• Fenced backyard

Tags

• PRIVATE SEATING AREA
• WOOD BURNING STOVE
• 4 SEASON ROOM
• FENCED BACKYARD
• HEATED THIRD BAY
• NEW ROOF

Property features AI

Exterior

• Parking: Attached garage with 3 parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; One-story
• Construction: Brick and wood siding construction; Asphalt roof; Slab foundation; Built as site-built home
• Exterior features: Privacy fencing; Corner, level lot; Lot dimensions approximately 90 x 120

Interior

• Kitchen: Dishwasher, refrigerator, gas range
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: Two full bathrooms
• Heating & cooling: Natural gas heating; Hot water heating; Central air conditioning
• Interior features: Wood-burning fireplace; Main-level laundry; Includes dishwasher, refrigerator, gas range
• Laundry & utility: Laundry located on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $215k.

Deal economics

• At list price, monthly cash flow is $28 ($331/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 $185k (13.8% below list).
• Recommended offer: $185k (13.8% below list) — sets the bar for 1% rule.
• Cap rate 6.4% 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: J Wilbur Haley Elementary School (math 19% / reading 20%, grade F, #814 of 994 statewide, top 83%, 568 students, 65% FRL); Blackhawk Middle School (math 28% / reading 38%, grade F, #180 of 330 statewide, top 56%, 797 students, 46% FRL); R Nelson Snider High School (math 27% / reading 53%, grade F, #217 of 369 statewide, top 59%, 1,899 students, 50% FRL).
• Market conditions: 101 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,861 units permitted in Allen County in 2024 (576 in 5+ unit buildings).
• This rent runs 30% of the median local income ($73k/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 $6k 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 153 days — a 12% lower offer ($189k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 11y ago; this cycle's ask has dropped $50k (19%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $185,385 (13.8% below list)

Questions for the listing agent

1. It's been on market 153 days. Have you received any prior offers? Is the seller open to a 14% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — 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: 0.86% ✗
• Cap rate: 6.45%
• Cash-on-cash: 0.55%
• DSCR: 1.02
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $259,863
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
7107 Piegan Pl	0.09mi	4/2.5 (+1)	1,829 (-1%)	3mo	$260,000	$142	85
3111 Marias Dr	0.12mi	3/2.0	1,682 (-9%)	4mo	$240,000	$143	76
3308 Kenaston Dr	0.31mi	3/2.5	1,904 (+3%)	3mo	$271,000	$142	75
7101 Piegan Pl	0.07mi	3/2.5	1,647 (-11%)	5mo	$224,900	$137	73
7312 Antebellum Blvd	0.24mi	4/2.5 (+1)	2,012 (+9%)	5mo	$245,000	$122	63
3702 Blueridge Ln	0.33mi	3/2.5	2,036 (+10%)	3mo	$265,000	$130	62
2415 Knollwood Ct	0.38mi	3/2.0	1,648 (-11%)	4mo	$268,000	$163	61
7530 Glenoak Pkwy	0.49mi	4/2.5 (+1)	1,976 (+7%)	2mo	$260,000	$132	56
3325 Merrimack Pl	0.57mi	4/2.5 (+1)	2,000 (+8%)	1mo	$281,000	$141	52
4024 Oakleaf Dr	0.71mi	3/1.0	2,044 (+11%)	1mo	$193,000	$94	44
6124 Vance Ave	0.58mi	4/2.5 (+1)	2,105 (+14%)	1mo	$230,000	$109	42
7728 Wishingwell Ct	0.60mi	4/1.5 (+1)	1,584 (-14%)	2mo	$275,000	$174	40

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.4%
• Equity multiple: 0.45×
• Total profit: $-33,084
• Equity at exit: $32,057

10-year hold

• IRR: -6.9%
• Equity multiple: 0.56×
• Total profit: $-26,554
• Equity at exit: $18,589

Cash invested: $60,200 (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 46815

• Active inventory: 101
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,854 high
• Mortgage (P&I): −$1,127
• Tax from tax record: −$220 /mo · $2,639/yr
• Insurance: −$90
• HOA: −$0
• Vacancy / Maint / Mgmt: −$389
• Net cashflow: $28

Break-even live

Break-even rent $1,819

Max offer price $215,000

Occupancy floor 94%

Sensitivity live

Price	-10% $149	-5% $88	+0% $28	+5% $-33	+10% $-94
Rent	-10% $-119	-5% $-46	+0% $28	+5% $101	+10% $174
Rate	-1.0pp $136	-0.5pp $82	base $28	+0.5pp $-28	+1.0pp $-85

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: $53,750
• Closing costs: $6,450
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3226 Arrowwood Dr Fort Wayne, IN	4.0	2.0	2096	$1,949	$0.93	44d	1	0.01mi
3010 Simcoe Dr Fort Wayne, IN	1.0–3.0	1.0–2.5	940	$1,609	$1.71	14d	10	0.34mi
1919 Bear Paw Dr Fort Wayne, IN	4.0	3.0	1792	$1,950	$1.09	14d	1	0.71mi
4725 Maple Terrace Pkwy Fort Wayne, IN	4.0	2.0	2068	$2,200	$1.06	14d	1	1.13mi
3212 W Bartlett Dr Fort Wayne, IN	2.0	2.0	1289	$2,250	$1.75	44d	1	1.24mi
3213 W Bartlett Dr Fort Wayne, IN	2.0	2.0	1445	$2,250	$1.56	44d	1	1.28mi
3215 W Bartlett Dr Fort Wayne, IN	2.0	2.0	1464	$2,380	$1.63	44d	1	1.28mi
4920 Desoto Dr Fort Wayne, IN	4.0	2.0	1738	$1,924	$1.11	14d	1	1.38mi
1357 Lofton Way Fort Wayne, IN	3.0	2.0	1448	$1,995	$1.38	14d	1	1.43mi

Listing history 11 events

1. 2026-04-30
   status Pending
2. 2026-04-28
   status Active
3. 2026-04-28
   price $215,000
4. 2026-04-02
   historical Active Under Contract
5. 2026-03-30
   status Active
6. 2026-03-30
   price $244,900
7. 2026-02-09
   status Pending
8. 2025-11-11
   price $249,900
9. 2025-10-17
   price $259,900
10. 2025-10-10
    listed $264,900 Active
11. 2015-06-25
    listed $122,500

ⓘ 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: $2,639 · $220/mo
• Projected year-2 tax: $2,639 · $220/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: $22,246
• − Mortgage interest: −$12,043
• − Property taxes: −$2,639
• − Insurance: −$1,075
• − Repairs & maintenance: −$1,780
• − Management: −$1,780
• − Depreciation: −$6,255
• Taxable loss: −$3,325
• Est. tax savings @ 24.0%: +$798
• After-tax cash flow: $1,129/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): 27,238
• Household income: $73,239
• Rent vs Own: 24.9% rent · 75.1% own
• Severe rent burden: 604.0

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 (78%)
• Race & ethnicity: White 78% Black 9% Two or more races 7% Asian 5% Hispanic / Latino 4%
• Common ancestry: Italian 2% Lithuanian 2% Romanian 2%
• Foreign-born: 4% · Philippines, Canada
• Languages at home: 93% English-only · Other Asian/Pacific 4% Spanish 1% Other Indo-European 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: ▼ -219.81%
• Current HPI: 245.2095
• 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

+75.5% since first listed

11 events — show timeline

• 2026-04-30 Pending — IRMLS
• 2026-04-28 Relisted — IRMLS
• 2026-04-28 Price Changed $215,000 IRMLS
• 2026-04-02 Contingent — IRMLS
• 2026-03-30 Relisted — IRMLS
• 2026-03-30 Price Changed $244,900 IRMLS
• 2026-02-09 Pending — IRMLS
• 2025-11-11 Price Changed $249,900 IRMLS
• 2025-10-17 Price Changed $259,900 IRMLS
• 2025-10-10 Listed $264,900 IRMLS
• 2015-06-25 Listed $122,500 IRMLS

Property tax history

+5.2%/yr

Latest (2024): $2,639 · +6.2% YoY. Source: county tax records.