2907 Witchwood Dr · Fort Wayne, IN 46809

$110,000

2 bd · 1.0 ba · 803 sqft · SingleFamily public records · 2 Days on market

Built 1937 7,800 sqft lot Est $140k · 21% 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 +23.8/30.0
• ARV discount +15.0/15.0
• DSCR +7.7/10.0
• 1% rule +5.5/10.0
• Livability +4.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great starter 3 bedrooms, nice kitchen and bathroom updates last 5 years! Basement, flooring and paint last 3 years. All appliances stay but not warranted. roof looks less than 10 years old. New decking on front porch. seller will work with buyers on siding in rear of home.

Key facts

• Fenced yard
• New refrigerator
• 7,800 sq ft lot

Tags

• LAUNDRY ON MAIN FLOOR
• NEW REFRIGERATOR
• FENCED YARD

Property features AI

Exterior

• Parking: Detached off-street garage (1 car)
• Utilities: Public water; Public sewer; Natural gas
• Home design: Single-family residence (site-built); One-story
• Construction: Vinyl siding
• Exterior features: Chain link fence; Sloped lot

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Total of 6 rooms (includes bedrooms and living spaces)
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating (natural gas); Window air conditioning units
• Interior features: Laminate countertops; Full basement
• Laundry & utility: Washer; Dryer; Electric dryer hookup on main level; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $211 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Cap rate 8.6% 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: Waynedale Elementary School (math 22% / reading 22%, grade F, #790 of 994 statewide, top 81%, 383 students, 74% FRL); Kekionga Middle School (math 10% / reading 17%, grade F, #303 of 330 statewide, top 92%, 538 students, 80% FRL); Wayne High School (math 17% / reading 52%, grade F, #270 of 369 statewide, top 77%, 1,419 students, 68% FRL).
• Market conditions: 36 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 62% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $761 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 since 6y 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 $63k; list at $110k implies a 75% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,000

Questions for the listing agent

1. Built in 1937 — 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: 1.05% ✓
• Cap rate: 8.59%
• Cash-on-cash: 8.21%
• DSCR: 1.37
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $139,722
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6612 Bradbury Ave	0.16mi	2/1.0	792 (-1%)	2mo	$157,000	$198	89
6510 Old Trail Rd	0.22mi	2/1.0	798 (-1%)	7mo	$144,000	$180	83
6714 Bradbury Ave	0.22mi	2/1.0	724 (-10%)	12mo	$62,500	$86	63
2605 Westward Dr	0.71mi	2/1.0	794 (-1%)	2mo	$50,000	$63	63
2707 Prairie Grove Dr	0.21mi	2/1.5	916 (+14%)	4mo	$170,000	$186	62
2607 Westward Dr	0.70mi	2/1.0	748 (-7%)	1mo	$155,000	$207	55
7201 Baer Rd	0.55mi	2/1.0	900 (+12%)	10mo	$110,000	$122	46
7416 Beaty Ave	0.69mi	3/1.0 (+1)	780 (-3%)	23mo	$120,000	$154	39
7319 Bluffton Rd	0.70mi	2/1.0	891 (+11%)	19mo	$146,000	$164	33
7324 Burnsdale Ave	0.64mi	3/1.0 (+1)	918 (+14%)	19mo	$160,000	$174	25

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: -3.8%
• Equity multiple: 0.86×
• Total profit: $-4,427
• Equity at exit: $16,401

10-year hold

• IRR: 5.8%
• Equity multiple: 1.43×
• Total profit: $13,343
• Equity at exit: $9,511

Cash invested: $30,800 (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 46809

• Active inventory: 36
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $1,153 high
• Mortgage (P&I): −$577
• Tax from tax record: −$77 /mo · $927/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$242
• Net cashflow: $211

Break-even live

Break-even rent $886

Max offer price $110,000

Occupancy floor 77%

Sensitivity live

Price	-10% $273	-5% $242	+0% $211	+5% $180	+10% $148
Rent	-10% $120	-5% $165	+0% $211	+5% $256	+10% $302
Rate	-1.0pp $266	-0.5pp $239	base $211	+0.5pp $182	+1.0pp $153

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3047 Boardwalk Cir Fort Wayne, IN	1.0–3.0	1.0–2.0	893	$1,188	$1.33	15d	2	0.24mi
7214 Hickory Creek Dr Fort Wayne, IN	1.0–2.0	1.0–1.5	699	$1,279	$1.83	15d	12	0.71mi
3202 McArthur Dr Unit 5 Fort Wayne, IN	2.0	1.0	860	$915	$1.06	45d	1	0.78mi
4737 Pinecrest Dr Fort Wayne, IN	3.0	1.0	768	$1,195	$1.56	15d	1	1.16mi
2220 Dunkelberg Rd Lot 946 Fort Wayne, IN	3.0	2.0	1024	$991	$0.97	46d	1	1.41mi
2220 Dunkelberg Rd Lot 957 Fort Wayne, IN	3.0	2.0	1024	$1,045	$1.02	45d	1	1.41mi
2220 Dunkelberg Rd Lot 437 Fort Wayne, IN	3.0	2.0	960	$1,090	$1.14	45d	1	1.41mi
2220 Dunkelberg Rd Unit 903 Fort Wayne, IN	3.0	2.0	1024	$991	$0.97	45d	1	1.49mi

Listing history 2 events

1. 2026-06-07
   remarks 265-char remark
2. 2026-06-07
   listed $110,000 Pending 2 DOM

ⓘ 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: $927 · $77/mo
• Projected year-2 tax: $931 · $78/mo
• Expected delta: +$4/yr ($0/mo · 0.5%)

ⓘ 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 · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,832
• − Mortgage interest: −$6,162
• − Property taxes: −$927
• − Insurance: −$550
• − Repairs & maintenance: −$1,107
• − Management: −$1,107
• − Depreciation: −$3,200
• Taxable income: $780
• Est. tax owed @ 24.0%: −$187
• After-tax cash flow: $2,341/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): 8,589
• Household income: $52,253
• Rent vs Own: 37.6% rent · 62.4% own
• Severe rent burden: 367.0

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 (73%)
• Race & ethnicity: White 73% Hispanic / Latino 17% Two or more races 8% Black 6%
• Hispanic origin (detail): Mexican 13%
• Common ancestry: Italian 2% Romanian 2% Lithuanian 2%
• Foreign-born: 7% · Canada, Jamaica, Philippines
• Languages at home: 89% English-only · Spanish 10% French/Haitian/Cajun 1% Other Asian/Pacific 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: ▼ -201.22%
• Current HPI: 273.9779
• 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

+74.9% since first listed

4 events — show timeline

• 2026-06-06 Pending — IRMLS
• 2026-06-04 Listed $110,000 IRMLS
• 2020-05-19 Sold (MLS) $62,900 IRMLS
• 2020-04-16 Listed $62,900 IRMLS

Property tax history

-1.8%/yr

Latest (2024): $927 · +37.2% YoY. Source: county tax records.