934 Home Ave · Fort Wayne, IN 46807

$74,900

3 bd · 1.0 ba · 1,192 sqft · SingleFamily public records · 17 Days on market

Built 1886 4,760 sqft lot $63/sqft · 19% below area Est $146k · 49% under

---

Why this score? — see what drove the B+ 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• Rent growth +4.6/5.0
• Livability +4.2/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

ON-SITE AUCTION: TUESDAY, MAY 12TH AT 6:00 PM EASTERN | OPEN HOUSES: TUESDAY, MAY 5TH & MONDAY, MAY 11TH, 5:00 - 6:30 PM EASTERN | The price stated on this property is a guideline value | This property may sell for more or less than the guideline value, depending on the outcome of the auction bidding. | Winning bidder shall owe $6,500.00 night of the auction | For all terms, please visit our website | Investment Opportunity! 2-Story home with detached garage offering strong potential for renovation or rental income. Features include multiple bedrooms, main floor living space, and additional upper-level rooms. Detached structure and yard space provide flexibility for storage or future use. Ideal for investors or buyers looking for a value-add project.

Key facts

• 4,760 sq ft lot
• Garage
• Built 1886

Property features AI

Finance

• Financial info: $859 annual tax (listed)

Exterior

• Parking: Attached garage with 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; Two-story
• Construction: Brick, stone, and wood siding exterior
• Exterior features: Level lot; Lot dimensions approximately 35 x 136

Interior

• Bathrooms: Two full bathrooms; One bathroom on the main level
• Heating & cooling: Natural gas heating; Window air conditioning units
• Interior features: Total of 6 rooms; Unfinished basement
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $378 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• Cap rate 12.4% 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: South Wayne Elementary School (math 17% / reading 17%, grade F, #837 of 994 statewide, top 86%, 362 students, 88% FRL); Portage Middle School (math 8% / reading 18%, grade F, #304 of 330 statewide, top 94%, 436 students, 79% FRL); South Side High School (math 12% / reading 39%, grade F, #322 of 369 statewide, top 87%, 1,423 students, 73% FRL) — zoned schools average 80% FRL vs 60% district-wide (20 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+8.2%/yr); 94 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 $518 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 8.0% rent growth), your $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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 $45k; list at $75k implies a 66% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1886 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $73,776 (1.5% below list)

Questions for the listing agent

1. Built in 1886 — 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: 1.47% ✓
• Cap rate: 12.35%
• Cash-on-cash: 21.65%
• DSCR: 1.96
• GRM: 5.7

CMA / ARV

• ARV (median comp): $146,144
• List price: $74,900
• Delta: -48.68%
• 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
2806 Fox Ave	0.11mi	3/2.0	1,186 (-0%)	0mo	$219,000	$185	90
2911 Broadway	0.11mi	3/1.0	1,236 (+4%)	2mo	$129,000	$104	87
1307 W Wildwood Ave	0.25mi	3/1.0	1,232 (+3%)	4mo	$144,995	$118	80
1014 Nuttman Ave	0.38mi	3/1.5	1,199 (+1%)	2mo	$200,000	$167	78
528 Dayton Ave	0.50mi	3/1.0	1,152 (-3%)	0mo	$186,000	$161	71
2050 Phenie St	0.68mi	2/1.0 (-1)	1,189 (-0%)	0mo	$120,000	$101	63
2426 Thompson Ave	0.41mi	3/1.0	1,304 (+9%)	4mo	$60,000	$46	62
460 Violet Ct	0.49mi	3/1.0	1,056 (-11%)	3mo	$80,000	$76	55
2027 Thompson Ave	0.61mi	3/1.0	1,320 (+11%)	1mo	$163,000	$123	53
721 W Oakdale Dr	0.51mi	3/1.5	1,344 (+13%)	2mo	$190,000	$141	52
3918 Fairfield Ave	0.72mi	3/1.5	1,072 (-10%)	1mo	$180,000	$168	46
443 French Ave	0.67mi	3/1.0	1,344 (+13%)	2mo	$124,000	$92	46

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: 19.6%
• Equity multiple: 1.85×
• Total profit: $17,778
• Equity at exit: $11,168

10-year hold

• IRR: 31.1%
• Equity multiple: 4.48×
• Total profit: $72,986
• Equity at exit: $6,476

Cash invested: $20,972 (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 46807

• Rents YoY: 8.2%
• Active inventory: 94
• Price-to-rent: 5.7×

Monthly cashflow live

• Estimated rent: $1,101 high
• Mortgage (P&I): −$393
• Tax from tax record: −$67 /mo · $806/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$231
• Net cashflow: $378

Break-even live

Break-even rent $622

Max offer price $74,900

Occupancy floor 61%

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
907 Lincoln Ave Fort Wayne, IN	2.0	1.0	1060	$850	$0.80	13d	1	0.10mi
824 Huestis Ave Apt C Fort Wayne, IN	2.0	1.0	744	$825	$1.11	21d	1	0.25mi
810 Huestis Ave Apt 1 Fort Wayne, IN	2.0	1.0	749	$925	$1.23	21d	1	0.26mi
1235 Huestis Ave Unit A Fort Wayne, IN	2.0	1.0	1040	$950	$0.91	43d	1	0.27mi
1320 Fay Dr Fort Wayne, IN	2.0	1.0	792	$800	$1.01	13d	1	0.29mi
1322 Fay Dr Fort Wayne, IN	2.0	1.0	792	$950	$1.20	21d	1	0.30mi
3201 Dinnen Ave Fort Wayne, IN	2.0	1.0	986	$999	$1.01	13d	1	0.32mi
1353 Huestis Ave Fort Wayne, IN	4.0	1.0	1328	$1,300	$0.98	13d	1	0.35mi
1360 Huestis Ave Fort Wayne, IN	3.0	1.0	1056	$1,080	$1.02	13d	1	0.38mi
2445 Fairfield Ave Fort Wayne, IN	2.0	1.5	950	$1,150	$1.21	13d	3	0.40mi
2430 Thompson Ave Fort Wayne, IN	2.0	1.0	1197	$975	$0.81	13d	1	0.40mi
1342 Guthrie St Fort Wayne, IN	3.0	1.0	1200	$899	$0.75	43d	1	0.46mi
2136 Miner St #2 Fort Wayne, IN	2.0	1.0	850	$1,200	$1.41	43d	1	0.47mi
309 W Leith St Unit 2 Fort Wayne, IN	2.0	1.0	900	$1,000	$1.11	43d	1	0.53mi
2133 Riedmiller Ave Fort Wayne, IN	3.0	1.0	1056	$1,050	$0.99	21d	1	0.55mi
3008 Webster St Fort Wayne, IN	3.0	1.0	1344	$1,449	$1.08	21d	1	0.57mi
1104 Stophlet St Fort Wayne, IN	3.0	1.5	1288	$1,400	$1.09	13d	1	0.69mi
227 W Darrow Ave Fort Wayne, IN	3.0	1.0	995	$1,000	$1.01	43d	1	0.71mi
116 E Pontiac St Fort Wayne, IN	3.0	1.5	1400	$1,175	$0.84	21d	1	0.73mi
418 W Rudisill Blvd Unit 2 Fort Wayne, IN	2.0	1.0	768	$975	$1.27	21d	1	0.73mi
3510 S Harrison St Fort Wayne, IN	3.0	1.0	1248	$975	$0.78	13d	1	0.74mi
309 W Williams St Unit 1 Fort Wayne, IN	2.0	1.0	900	$900	$1.00	21d	1	0.76mi
1332 Swinney Ave Fort Wayne, IN	2.0	1.0	1035	$1,300	$1.26	43d	1	0.80mi
217 W Masterson Ave Fort Wayne, IN	2.0	1.0	1100	$995	$0.90	21d	1	0.85mi
4201 S Wayne Ave Fort Wayne, IN	3.0	1.5	1252	$1,400	$1.12	21d	1	0.91mi
877 Lavina St Fort Wayne, IN	1.0–3.0	1.0–2.0	997	$2,980	$2.99	43d	17	0.94mi
2215 Ontario St Fort Wayne, IN	3.0	1.0	850	$975	$1.15	43d	1	1.03mi
442 E Wildwood Ave Fort Wayne, IN	2.0	1.0	864	$875	$1.01	21d	1	1.03mi
451 E Pontiac St Fort Wayne, IN	3.0	1.0	1308	$1,050	$0.80	43d	1	1.04mi
420 E Dewald St Fort Wayne, IN	3.0	1.5	1472	$1,300	$0.88	43d	1	1.06mi
1250 Ewing St Fort Wayne, IN	2.0	1.0–2.0	980	$2,081	$2.12	21d	24	1.10mi
4018 S Clinton St Fort Wayne, IN	3.0	1.0	860	$1,000	$1.16	21d	1	1.13mi
3801 Lafayette St Fort Wayne, IN	2.0	1.0	1116	$995	$0.89	13d	1	1.13mi
915 Garden St Fort Wayne, IN	2.0	2.0	1275	$1,650	$1.29	13d	1	1.14mi
901 W Wayne St Unit 3 Fort Wayne, IN	2.0	2.0	1312	$1,700	$1.30	43d	1	1.19mi
4126 Lafayette St Fort Wayne, IN	2.0	1.0	775	$1,275	$1.65	43d	1	1.25mi
835 Van Buren St Fort Wayne, IN	2.0	1.0–2.0	750	$1,995	$2.66	13d	29	1.27mi
4331 Lafayette St Fort Wayne, IN	2.0	1.0	810	$925	$1.14	13d	1	1.37mi
4121 Monroe St Fort Wayne, IN	2.0	1.0	725	$1,100	$1.52	13d	1	1.42mi
112 W Washington Blvd Fort Wayne, IN	1.0–2.0	1.0–2.0	768	$1,500	$1.95	21d	2	1.42mi

Listing history 15 events

1. 2026-06-18
   days on market $74,900 Active 17 DOM
2. 2026-06-17
   days on market $74,900 Active 16 DOM
3. 2026-06-16
   days on market $74,900 Active 15 DOM
4. 2026-06-15
   days on market $74,900 Active 14 DOM
5. 2026-06-14
   days on market $74,900 Active 12 DOM
6. 2026-06-10
   days on market $74,900 Active 9 DOM
7. 2026-06-09
   days on market $74,900 Active 8 DOM
8. 2026-06-08
   days on market $74,900 Active 7 DOM
9. 2026-06-07
   days on market $74,900 Active 6 DOM
10. 2026-06-03
    days on market $74,900 Active 2 DOM
11. 2026-06-02
    pricestatusdays on marketlisting id $74,900 Active 1 DOM
12. 2026-05-13
    status Pending 764-char remark

    Show marketing remark (766 chars)

    ON-SITE AUCTION: TUESDAY, MAY 12TH AT 6:00 PM EASTERN | OPEN HOUSES: TUESDAY, MAY 5TH & MONDAY, MAY 11TH, 5:00 - 6:30 PM EASTERN | The price stated on this property is a guideline value | This property may sell for more or less than the guideline value, depending on the outcome of the auction bidding. | Winning bidder shall owe $6,500.00 night of the auction | For all terms, please visit our website | Investment Opportunity! 2-Story home with detached garage offering strong potential for renovation or rental income. Features include multiple bedrooms, main floor living space, and additional upper-level rooms. Detached structure and yard space provide flexibility for storage or future use. Ideal for investors or buyers looking for a value-add project.

13. 2026-05-13
    status Pending 766-char remark

    Show marketing remark (766 chars)

    ON-SITE AUCTION: TUESDAY, MAY 12TH AT 6:00 PM EASTERN | OPEN HOUSES: TUESDAY, MAY 5TH & MONDAY, MAY 11TH, 5:00 - 6:30 PM EASTERN | The price stated on this property is a guideline value | This property may sell for more or less than the guideline value, depending on the outcome of the auction bidding. | Winning bidder shall owe $6,500.00 night of the auction | For all terms, please visit our website | Investment Opportunity! 2-Story home with detached garage offering strong potential for renovation or rental income. Features include multiple bedrooms, main floor living space, and additional upper-level rooms. Detached structure and yard space provide flexibility for storage or future use. Ideal for investors or buyers looking for a value-add project.

14. 2026-04-17
    listed $75,000 Active 764-char remark

    Show marketing remark (764 chars)

    ON-SITE AUCTION: TUESDAY, MAY 12TH AT 6:00 PM EASTERN | OPEN HOUSES: TUESDAY, MAY 5TH & MONDAY, MAY 11TH, 5:00 - 6:30 PM EASTERN | The price stated on this property is a guideline value | This property may sell for more or less than the guideline value, depending on the outcome of the auction bidding. | Winning bidder shall owe $6,500.00 night of the auction | For all terms, please visit our website | Investment Opportunity! 2-Story home with detached garage offering strong potential for renovation or rental income. Features include multiple bedrooms, main floor living space, and additional upper-level rooms. Detached structure and yard space provide flexibility for storage or future use. Ideal for investors or buyers looking for a value-add project.

15. 2026-04-17
    listed $75,000 Active 766-char remark

    Show marketing remark (764 chars)

    ON-SITE AUCTION: TUESDAY, MAY 12TH AT 6:00 PM EASTERN | OPEN HOUSES: TUESDAY, MAY 5TH & MONDAY, MAY 11TH, 5:00 - 6:30 PM EASTERN | The price stated on this property is a guideline value | This property may sell for more or less than the guideline value, depending on the outcome of the auction bidding. | Winning bidder shall owe $6,500.00 night of the auction | For all terms, please visit our website | Investment Opportunity! 2-Story home with detached garage offering strong potential for renovation or rental income. Features include multiple bedrooms, main floor living space, and additional upper-level rooms. Detached structure and yard space provide flexibility for storage or future use. Ideal for investors or buyers looking for a value-add project.

ⓘ 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: $806 · $67/mo
• Projected year-2 tax: $806 · $67/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: $13,208
• − Mortgage interest: −$4,196
• − Property taxes: −$806
• − Insurance: −$374
• − Repairs & maintenance: −$1,057
• − Management: −$1,057
• − Depreciation: −$2,179
• Taxable income: $3,540
• Est. tax owed @ 24.0%: −$850
• After-tax cash flow: $3,691/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): 16,317
• Household income: $58,685
• Rent vs Own: 39.7% rent · 60.3% own
• Severe rent burden: 680.0

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 0.66)
• Race & ethnicity: White 54% Two or more races 19% Hispanic / Latino 16% Black 14% Asian 4%
• Hispanic origin (detail): Mexican 15%
• Common ancestry: Slovak 3% Lithuanian 3% Romanian 2%
• Foreign-born: 9% · Canada, Philippines, Jamaica
• Languages at home: 82% English-only · Spanish 13% Other Asian/Pacific 4% German/W. Germanic 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: ▼ -318.66%
• Current HPI: 272.6238
• Rent YoY: ▲ 8.24%
• 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

-0.1% since first listed

8 events — show timeline

• 2026-06-01 Listed $74,900 IRMLS
• 2026-05-26 Price Changed $45,100 IRMLS
• 2026-05-26 Sold (MLS) $45,100 MIBOR as Distributed by MLS Grid
• 2026-05-26 Sold (MLS) $45,100 IRMLS
• 2026-05-13 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-13 Pending — IRMLS
• 2026-04-17 Listed $75,000 MIBOR as Distributed by MLS Grid
• 2026-04-17 Listed $75,000 IRMLS

Property tax history

+18.0%/yr

Latest (2024): $806 · +97.9% YoY. Source: county tax records.