Lancia's Mandalay Plan · Huntertown, IN 46818

$242,600

3 bd · 2.0 ba · 1,644 sqft · SingleFamily · 303 Days on market

Excellent 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 +6.4/30.0
• Schools +4.9/10.0
• Condition / age +4.8/5.0
• Rent growth +4.4/5.0
• Livability +3.5/5.0
• 1% rule +1.7/10.0
• DSCR +0.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

THIS IS A SAMPLE PLAN - THIS IS NOT A HOME FOR SALE. Lancia's Mandalay is a 2-Car Garage split ranch with 3 Bedrooms, 2 Bath 1,644 sq. ft. home. Patio off the Nook. Office with French doors off Foyer. Great Room has gas fireplace and 9' raised tray ceiling. Kitchen island faces open living area. * Base price of home does not include land

Key facts

• Patio off the nook
• 2 parking spots
• Listed 303 days

Tags

• PATIO OFF THE NOOK
• OFFICE WITH FRENCH DOORS
• GREAT ROOM HAS GAS FIREPLACE

🏗️ New construction. The $242,600 list price is a builder figure, so every metric below is computed on the value from comparable previous sales — $337,072.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $243k. Condition is rated excellent.

Deal economics

• At list price, monthly cash flow is $-582 ($-7k/yr) — negative.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $227k (6.5% below list).
• Recommended offer: $213k (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.
• Zoned schools: Arcola School (math 72% / reading 62%, grade B+, #55 of 994 statewide, top 6%, 216 students, 33% FRL); Carroll Middle School (math 39% / reading 55%, grade D+, #65 of 330 statewide, top 21%, 994 students, 29% FRL); Carroll High School (math 59% / reading 86%, grade B+, #10 of 369 statewide, top 3%, 2,554 students, 21% FRL) — zoned schools average 28% FRL vs 11% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+7.6%/yr); 329 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 16d 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 34% 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 $2k of loan paydown is wiped out by about $10k 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 303 days — a 12% lower offer ($213k) is reasonable based on typical stale-listing flexibility.

Recommended offer $213,488 (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 303 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 0.67% ✗
• Cap rate: 4.22%
• Cash-on-cash: -7.40%
• DSCR: 0.67
• GRM: 12.4

CMA / ARV

• ARV (median comp): $337,072
• List price: $242,600
• Delta: -28.03%
• 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
4840 Whittlebury Dr	0.36mi	3/2.0	1,639 (-0%)	1mo	$359,227	$219	82
5091 Sickle Cv	0.37mi	3/2.0	1,703 (+4%)	0mo	$342,200	$201	77
4914 Whittlebury Dr	0.37mi	3/2.0	1,700 (+3%)	2mo	$369,900	$218	76
4684 Hammock Dr	0.33mi	3/2.0	1,724 (+5%)	2mo	$327,000	$190	75
5599 Broad Fields Cv	0.51mi	3/2.0	1,665 (+1%)	1mo	$384,900	$231	73
5116 Mountain Sky Cv	0.08mi	4/2.5 (+1)	1,818 (+11%)	0mo	$374,800	$206	71
12282 Hideout Pass	0.25mi	4/2.5 (+1)	1,732 (+5%)	2mo	$299,450	$173	71
4725 Silverstone Psge	0.44mi	3/2.0	1,716 (+4%)	2mo	$379,900	$221	70
12283 Hideout Pass	0.26mi	4/2.0 (+1)	1,771 (+8%)	1mo	$295,115	$167	69
4843 Silverstone Psge	0.43mi	3/2.0	1,768 (+8%)	2mo	$399,900	$226	66
4815 Windrow Way	0.40mi	3/2.0	1,487 (-10%)	2mo	$320,000	$215	64
5591 Broad Fields Cv	0.51mi	3/2.0	1,775 (+8%)	1mo	$386,300	$218	63

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: -24.1%
• Equity multiple: 0.15×
• Total profit: $-80,554
• Equity at exit: $50,259

10-year hold

• IRR: -9.8%
• Equity multiple: 0.28×
• Total profit: $-67,566
• Equity at exit: $29,144

Cash invested: $94,380 (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: 329
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $2,269 medium
• Mortgage (P&I): −$1,768
• Tax est. 1.5%: −$421 /mo · $5,056/yr
• Insurance: −$140
• HOA: −$45
• Vacancy / Maint / Mgmt: −$476
• Net cashflow: $-582

Break-even live

Break-even rent $3,006

Max offer price $252,823

Occupancy floor —

Sensitivity live

Price	-10% $-349	-5% $-466	+0% $-582	+5% $-699	+10% $-815
Rent	-10% $-761	-5% $-672	+0% $-582	+5% $-493	+10% $-403
Rate	-1.0pp $-412	-0.5pp $-496	base $-582	+0.5pp $-670	+1.0pp $-758

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: $84,268
• Closing costs: $10,112
• 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	45d	1	0.12mi
4722 Whittlebury Dr Fort Wayne, IN	4.0	2.0	1650	$1,999	$1.21	15d	1	0.30mi
3115 Carroll Rd Fort Wayne, IN	3.0	2.0	1244	$2,300	$1.85	15d	1	1.39mi

HOA detail

• Monthly dues: $45 · $540/yr
• Likely covers: gas

Listing history 18 events

1. 2026-06-21
   days on market $242,600 Active 303 DOM
2. 2026-06-18
   days on market $242,600 Active 300 DOM
3. 2026-06-17
   days on market $242,600 Active 299 DOM
4. 2026-06-16
   days on market $242,600 Active 298 DOM
5. 2026-06-15
   days on market $242,600 Active 297 DOM
6. 2026-06-14
   days on market $242,600 Active 295 DOM
7. 2026-06-13
   days on market $242,600 Active 294 DOM
8. 2026-06-10
   days on market $242,600 Active 292 DOM
9. 2026-06-09
   days on market $242,600 Active 291 DOM
10. 2026-06-08
    days on market $242,600 Active 290 DOM
11. 2026-06-07
    days on market $242,600 Active 289 DOM
12. 2026-06-03
    days on market $242,600 Active 285 DOM
13. 2026-06-02
    pricedays on market $242,600 Active 284 DOM
14. 2026-06-01
    days on market $237,300 Active 283 DOM
15. 2026-05-31
    days on market $237,300 Active 282 DOM
16. 2026-05-30
    days on market $237,300 Active 281 DOM
17. 2026-02-09
    price $237,300 339-char remark

    Show marketing remark (339 chars)

    THIS IS A SAMPLE PLAN - THIS IS NOT A HOME FOR SALE. Lancia's Mandalay is a 2-Car Garage split ranch with 3 Bedrooms, 2 Bath 1,644 sq. ft. home. Patio off the Nook. Office with French doors off Foyer. Great Room has gas fireplace and 9' raised tray ceiling. Kitchen island faces open living area. * Base price of home does not include land

18. 2025-08-22
    listed $235,100 Active 339-char remark

    Show marketing remark (339 chars)

    THIS IS A SAMPLE PLAN - THIS IS NOT A HOME FOR SALE. Lancia's Mandalay is a 2-Car Garage split ranch with 3 Bedrooms, 2 Bath 1,644 sq. ft. home. Patio off the Nook. Office with French doors off Foyer. Great Room has gas fireplace and 9' raised tray ceiling. Kitchen island faces open living area. * Base price of home 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: $27,223
• − Mortgage interest: −$18,881
• − Property taxes: −$5,056
• − Insurance: −$1,685
• − Repairs & maintenance: −$2,178
• − Management: −$2,178
• − HOA: −$540
• − Depreciation: −$9,806
• Taxable loss: −$13,101
• Est. tax savings @ 24.0%: +$3,144
• After-tax cash flow: $-3,843/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 · 13 photos

Excellent 95/100 None rehab

This home is in excellent condition with modern finishes and a well-maintained exterior. It is move-in ready and would benefit from minor updates to enhance its curb appeal and interior aesthetics.

Value-add opportunities

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics.
• Both Landscaping improvements — A well-maintained yard can increase both resale and rental value.
• Resale Kitchen appliances — Modern appliances can attract more buyers and renters.
• Resale Bathroom fixtures — Upgraded fixtures can make the bathroom more appealing to potential buyers and renters.

Renovation cost estimate screening

Value-add ROI direction

• Both Painting the exterior and interior walls — Fresh paint can enhance curb appeal and interior aesthetics. ↑
• Both Landscaping improvements — A well-maintained yard can increase both resale and rental value. ↑
• Resale Kitchen appliances — Modern appliances can attract more buyers and renters. ↑
• Resale Bathroom fixtures — Upgraded fixtures can make the bathroom more appealing to potential buyers and renters. ↑

ⓘ 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

+0.9% since first listed

2 events — show timeline

• 2026-02-09 Price Changed $237,300 Zillow
• 2025-08-22 Listed $235,100 Zillow