3109 Central Dr · Fort Wayne, IN 46806

$99,900

2 bd · 1.0 ba · 825 sqft · SingleFamily public records · 2 Days on market

Built 1927 5,070 sqft lot Est $82k · 22% over

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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 +19.6/30.0
• DSCR +6.2/10.0
• 1% rule +5.2/10.0
• Livability +4.2/5.0
• Rent growth +3.7/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This FULLY OCCUPIED 5 single-family home investment package in the desirable ’06 area of Fort Wayne offers immediate cash flow with a combined monthly rental income of $3,805. ALL UTILITIES ARE PAID BY TENANTS, creating a more efficient management structure for investors. The portfolio includes four 2-bedroom, 1-bath homes and one 3-bedroom, 1.5-bath home, each equipped with a refrigerator and oven/range. The properties also feature a combination of detached garages, off-street or street parking, full basements, and recent updates, adding long-term tenant appeal and functionality. Conveniently located near McMillen Park and Weisser Park, and within 5 minutes of shopping and dining, this package presents an excellent opportunity for investors seeking stable income and portfolio growth in a well-connected area.

Key facts

• Near mcmillen park
• Near weisser park
• Newer roof

Tags

• NEWER ROOF
• DETACHED GARAGE
• DRIVEWAY PARKING
• FULL BASEMENT
• NEAR MCMILLEN PARK
• NEAR WEISSER PARK

Property features AI

Finance

• Other: Pets allowed with breed restrictions

Exterior

• Parking: Off-street parking; Garage with 2 open parking spaces
• Utilities: Public water; Public sewer
• Home design: Single-story residential income property; Entry level: main; Subdivision: Pontiac Place; Lot dimensions approximately 40 x 130
• Construction: Vinyl siding; Block foundation; Asphalt shingle roof; Built as residential income (Other subtype)
• Exterior features: Porch; Level lot

Interior

• Kitchen: Range; Refrigerator
• Bathrooms: One full bathroom; Two main-level bathrooms
• Heating & cooling: Forced air heating; Natural gas heating
• Interior features: Range and refrigerator included; Full unfinished basement
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $115 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Cap rate 7.7% 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); Lane Middle School (math 9% / reading 20%, grade F, #300 of 330 statewide, top 91%, 710 students, 74% FRL); R Nelson Snider High School (math 27% / reading 53%, grade F, #217 of 369 statewide, top 59%, 1,899 students, 50% FRL) — zoned schools at 63% FRL track the district average.
• Market conditions: Rents rising fast (+4.9%/yr); 129 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $691 of loan paydown is wiped out by about $3k 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

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $400k (80%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $99,900

Questions for the listing agent

1. Built in 1927 — 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. 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?
5. 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.
6. 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.
7. 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: 1.02% ✓
• Cap rate: 7.67%
• Cash-on-cash: 4.93%
• DSCR: 1.22
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $81,675
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3202 S Anthony Blvd	0.16mi	2/1.0	900 (+9%)	4mo	$67,500	$75	74
3105 Winter St	0.25mi	2/1.0	778 (-6%)	7mo	$85,800	$110	73
2323 Mckee St	0.32mi	2/1.0	850 (+3%)	11mo	$84,000	$99	70
3214 Winter St	0.28mi	2/1.0	872 (+6%)	9mo	$89,900	$103	70
3629 Robinwood Dr	0.51mi	2/1.0	880 (+7%)	1mo	$130,000	$148	65
2715 Evans St	0.46mi	3/1.0 (+1)	784 (-5%)	4mo	$50,000	$64	62
2033 Mckinnie Ave	0.66mi	2/1.0	836 (+1%)	10mo	$55,000	$66	58
1128 Eckart St	0.55mi	2/1.0	790 (-4%)	12mo	$48,000	$61	57
3627 Plaza Dr	0.32mi	3/1.0 (+1)	936 (+14%)	4mo	$126,500	$135	54
2810 Winter St	0.36mi	3/1.0 (+1)	918 (+11%)	11mo	$125,000	$136	50
3921 Bowser Ave	0.66mi	2/1.5	918 (+11%)	2mo	$79,000	$86	47
2922 Drexel Ave	0.62mi	3/1.0 (+1)	936 (+14%)	7mo	$92,500	$99	38

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 · 4.93% rent growth · sell at horizon

5-year hold

• IRR: -6.5%
• Equity multiple: 0.76×
• Total profit: $-6,829
• Equity at exit: $14,895

10-year hold

• IRR: 5.4%
• Equity multiple: 1.43×
• Total profit: $12,160
• Equity at exit: $8,638

Cash invested: $27,972 (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 46806

• Home prices YoY: -33.6%
• Rents YoY: 4.9%
• Active inventory: 129
• Price-to-rent: 8.2×

Monthly cashflow live

• Estimated rent: $1,019 high
• Mortgage (P&I): −$524
• Tax from tax record: −$125 /mo · $1,495/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $115

Break-even live

Break-even rent $874

Max offer price $99,900

Occupancy floor 84%

Sensitivity live

Price	-10% $172	-5% $143	+0% $115	+5% $87	+10% $58
Rent	-10% $35	-5% $75	+0% $115	+5% $155	+10% $196
Rate	-1.0pp $165	-0.5pp $140	base $115	+0.5pp $89	+1.0pp $63

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3410 S Anthony Blvd Fort Wayne, IN	3.0	1.0	900	$1,200	$1.33	44d	1	0.20mi
3932 Winter St Fort Wayne, IN	2.0	1.0	750	$875	$1.17	44d	1	0.54mi
4014 Oliver St Fort Wayne, IN	3.0	1.0	936	$1,050	$1.12	14d	1	0.74mi
4325 Werling Dr Fort Wayne, IN	1.0–3.0	1.0–2.0	923	$1,008	$1.09	44d	1	0.74mi
4330 S Anthony Blvd Unit 4402 Fort Wayne, IN	1.0	1.0	575	$900	$1.57	14d	1	0.75mi
4129 Bowser Ave Fort Wayne, IN	3.0	1.5	850	$1,250	$1.47	21d	1	0.75mi
4705 S Anthony Blvd Fort Wayne, IN	3.0	1.0	1110	$1,050	$0.95	14d	1	0.98mi
442 E Wildwood Ave Fort Wayne, IN	2.0	1.0	864	$875	$1.01	21d	1	1.07mi
4121 Monroe St Fort Wayne, IN	2.0	1.0	725	$1,100	$1.52	14d	1	1.10mi
4522 Spatz Ave Fort Wayne, IN	2.0	1.0	840	$950	$1.13	44d	1	1.11mi
859 Buchanan St Fort Wayne, IN	1.0–4.0	1.0	887	$900	$1.01	21d	1	1.14mi
3801 Lafayette St Fort Wayne, IN	2.0	1.0	1116	$995	$0.89	14d	1	1.17mi
4126 Lafayette St Fort Wayne, IN	2.0	1.0	775	$1,275	$1.65	44d	1	1.28mi
4018 S Clinton St Fort Wayne, IN	3.0	1.0	860	$1,000	$1.16	21d	1	1.32mi
4331 Lafayette St Fort Wayne, IN	2.0	1.0	810	$925	$1.14	14d	1	1.33mi
3127 Pennsylvania St Fort Wayne, IN	2.0	1.0	696	$1,000	$1.44	14d	1	1.39mi
3113 S Harrison St Unit 2 Fort Wayne, IN	2.0	1.0	600	$850	$1.42	14d	1	1.44mi
4655 Avondale Dr Fort Wayne, IN	2.0	1.0	768	$875	$1.14	44d	1	1.45mi
2919 S Harrison St Unit 2921 Fort Wayne, IN	2.0	1.0	538	$825	$1.53	21d	1	1.45mi

Listing history 3 events

1. 2026-06-18
   days on market $99,900 Active 2 DOM
2. 2026-06-16
   remarks 699-char remark

   Show marketing remark (826 chars)

   This FULLY OCCUPIED 5 single-family home investment package in the desirable ’06 area of Fort Wayne offers immediate cash flow with a combined monthly rental income of $3,805. ALL UTILITIES ARE PAID BY TENANTS, creating a more efficient management structure for investors. The portfolio includes four 2-bedroom, 1-bath homes and one 3-bedroom, 1.5-bath home, each equipped with a refrigerator and oven/range. The properties also feature a combination of detached garages, off-street or street parking, full basements, and recent updates, adding long-term tenant appeal and functionality. Conveniently located near McMillen Park and Weisser Park, and within 5 minutes of shopping and dining, this package presents an excellent opportunity for investors seeking stable income and portfolio growth in a well-connected area.

3. 2026-06-16
   listed $99,900 Active 1 DOM

   Show marketing remark (826 chars)

   This FULLY OCCUPIED 5 single-family home investment package in the desirable ’06 area of Fort Wayne offers immediate cash flow with a combined monthly rental income of $3,805. ALL UTILITIES ARE PAID BY TENANTS, creating a more efficient management structure for investors. The portfolio includes four 2-bedroom, 1-bath homes and one 3-bedroom, 1.5-bath home, each equipped with a refrigerator and oven/range. The properties also feature a combination of detached garages, off-street or street parking, full basements, and recent updates, adding long-term tenant appeal and functionality. Conveniently located near McMillen Park and Weisser Park, and within 5 minutes of shopping and dining, this package presents an excellent opportunity for investors seeking stable income and portfolio growth in a well-connected area.

ⓘ 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: $1,495 · $125/mo
• Projected year-2 tax: $1,495 · $125/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: $12,230
• − Mortgage interest: −$5,596
• − Property taxes: −$1,495
• − Insurance: −$500
• − Repairs & maintenance: −$978
• − Management: −$978
• − Depreciation: −$2,906
• Taxable loss: −$224
• Est. tax savings @ 24.0%: +$54
• After-tax cash flow: $1,434/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): 26,425
• Household income: $47,895
• Rent vs Own: 48.1% rent · 51.9% own
• Severe rent burden: 1184.0

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: Highly diverse neighborhood (Simpson 0.74)
• Race & ethnicity: Black 37% Hispanic / Latino 26% White 21% Asian 12% Two or more races 11% Native American 2%
• Hispanic origin (detail): Mexican 18% Puerto Rican 1%
• Common ancestry: Italian 1% Romanian 1% Lithuanian 1%
• Foreign-born: 19% · Canada, Philippines, South Korea
• Languages at home: 71% English-only · Spanish 19% Other Asian/Pacific 9%

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: ▼ -148.00%
• Current HPI: 291.8198
• Rent YoY: ▲ 4.93%
• 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

+207.6% since first listed

3 events — show timeline

• 2026-06-16 Listed $499,900 IRMLS
• 2026-06-16 Listed $99,900 IRMLS
• 2005-07-14 Sold (Public Records) $162,500 Public Records

Property tax history

+14.7%/yr

Latest (2024): $1,495 · +13.9% YoY. Source: county tax records.