6708 S Calhoun St · Fort Wayne, IN 46807

$119,900

3 bd · 1.0 ba · 1,107 sqft · SingleFamily public records · 3 Days on market

Built 1955 0.26 ac lot $108/sqft · 18% below area Est $146k · 18% under

---

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 +22.0/30.0
• ARV discount +15.0/15.0
• DSCR +7.0/10.0
• 1% rule +5.3/10.0
• 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

Totally renovated Ranch on a Full Bsmnt * Living Room has a Fireplace & Crown Molding * Kitchen has been updated with New Stainless Appliances * New Paint, Carpet & Ceramic Flooring * BR3 could also be a Den/Office * Cute Front Patio * Attached 1 Car Garage * Spacious Yard with Large Shade Trees and Fenced-in Backyard * All Buyers must be Approved to view property & be able to Close in less than 20 days * Buyers Agent responsible for checking on Schools, Taxes and Square Footage *

Key facts

• Rich wood paneled
• Dual closets
• Formal dining area

Tags

• LIMESTONE CLAD RANCH
• BRICK TRIMMED FIREPLACE
• RICH WOOD PANELED
• FORMAL DINING AREA
• DUAL CLOSETS
• VINYL REPLACEMENT WINDOWS

Property features AI

Finance

• Other: Zoned R1; Lot approximately 0.26 acres (80 x 143); Subdivision: Steelhorn Park
• Financial info: Annual property tax: $1,493

Exterior

• Parking: Attached garage (1 car); Off-street and gravel parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence, site-built; One story
• Construction: Wood siding; Shingle roof; Concrete perimeter foundation; Built as a site-built home
• Exterior features: Level lot; Paved public road access; No fencing

Interior

• Kitchen: Refrigerator; Electric range
• Bedrooms: Total rooms: 6
• Flooring: Carpet
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Hot water heating; No central cooling
• Interior features: Gas log fireplace; Exhaust fan
• Laundry & utility: Laundry in basement; Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $190 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Cap rate 8.2% 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: Maplewood Elementary School (math 23% / reading 19%, grade F, #807 of 994 statewide, top 81%, 507 students, 74% FRL); Miami Middle School (math 9% / reading 17%, grade F, #304 of 330 statewide, top 94%, 497 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: Rents rising fast (+8.2%/yr); 94 active listings in the ZIP; 12 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 $829 of loan paydown is wiped out by about $4k 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 $34k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 7y 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.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $119,900

Questions for the listing agent

1. Built in 1955 — 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: 1.03% ✓
• Cap rate: 8.20%
• Cash-on-cash: 6.80%
• DSCR: 1.30
• GRM: 8.1

CMA / ARV

• ARV (median comp): $146,242
• List price: $119,900
• Delta: -18.01%
• 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
6708 S Calhoun St	0.00mi	3/1.0	1,110 (+0%)	0mo	$130,000	$117	99
6410 Kent Rd	0.37mi	3/1.0	1,067 (-4%)	1mo	$155,000	$145	76
6411 Bristol Rd	0.35mi	3/1.0	1,147 (+4%)	2mo	$171,900	$150	76
123 Edgeknoll Ln	0.18mi	3/2.0	1,008 (-9%)	6mo	$180,000	$179	68
116 Burns Blvd	0.59mi	3/1.0	1,134 (+2%)	1mo	$87,500	$77	68
6125 Chaddsford Dr	0.56mi	3/1.0	1,080 (-2%)	4mo	$105,000	$97	66
229 Corwin Ln	0.24mi	3/1.0	1,000 (-10%)	9mo	$100,000	$100	65
302 Dunbar Ln	0.32mi	3/1.0	1,015 (-8%)	10mo	$141,000	$139	64
6030 Oakmont Rd	0.54mi	3/1.5	1,140 (+3%)	6mo	$103,000	$90	63
6302 S Harrison St	0.39mi	3/1.0	1,014 (-8%)	7mo	$170,000	$168	62
6022 Chaddsford Dr	0.65mi	3/1.0	1,036 (-6%)	6mo	$160,000	$154	54
6420 Downingtown Dr	0.53mi	3/1.0	962 (-13%)	5mo	$100,000	$104	49

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: -0.6%
• Equity multiple: 0.98×
• Total profit: $-756
• Equity at exit: $17,877

10-year hold

• IRR: 13.6%
• Equity multiple: 2.33×
• Total profit: $44,763
• Equity at exit: $10,367

Cash invested: $33,572 (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: 8.1×

Monthly cashflow live

• Estimated rent: $1,240 high
• Mortgage (P&I): −$629
• Tax from tax record: −$111 /mo · $1,328/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $190

Break-even live

Break-even rent $999

Max offer price $119,900

Occupancy floor 80%

Sensitivity live

Price	-10% $258	-5% $224	+0% $190	+5% $156	+10% $122
Rent	-10% $92	-5% $141	+0% $190	+5% $239	+10% $288
Rate	-1.0pp $251	-0.5pp $221	base $190	+0.5pp $159	+1.0pp $128

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
220 E Hoover Dr Fort Wayne, IN	2.0–3.0	1.5	1150	$1,259	$1.09	14d	5	0.24mi
6440 Fairfield Ave Fort Wayne, IN	1.0–2.0	1.0–1.5	928	$1,344	$1.45	14d	10	0.42mi
6033 S Calhoun St Fort Wayne, IN	3.0	1.0	1042	$1,220	$1.17	21d	1	0.55mi
308 Pursley Dr Fort Wayne, IN	3.0	1.0	850	$1,100	$1.29	44d	1	0.56mi
405 Pursley Dr Fort Wayne, IN	2.0	1.0	720	$850	$1.18	44d	1	0.57mi
522 Pinegrove Ln Fort Wayne, IN	2.0–3.0	1.0–1.5	1248	$1,259	$1.01	14d	8	0.65mi
1003 Pointe Center Cv Unit 1003 Fort Wayne, IN	2.0	1.5	1200	$1,275	$1.06	45d	1	0.68mi
700 Candlelite Ct Fort Wayne, IN	2.0–3.0	1.0–2.5	1388	$1,399	$1.01	14d	4	0.72mi
1004 Fayette Dr Fort Wayne, IN	1.0–2.0	1.0	679	$1,199	$1.76	14d	18	0.87mi
5009 Hoagland Ave Fort Wayne, IN	2.0	1.0	1000	$1,300	$1.30	44d	1	1.14mi
8310 Bridgeway Blvd Fort Wayne, IN	1.0–2.0	1.0–2.0	818	$1,346	$1.65	14d	56	1.20mi
4655 Avondale Dr Fort Wayne, IN	2.0	1.0	768	$875	$1.14	44d	1	1.44mi

Listing history 5 events

1. 2026-05-04
   status Pending 741-char remark
2. 2026-05-01
   listed $119,900 Active 741-char remark
3. 2020-05-18
   soldstatus $95,990

   Show marketing remark (513 chars)

   Totally renovated Ranch on a Full Bsmnt * Living Room has a Fireplace & Crown Molding * Kitchen has been updated with New Stainless Appliances * New Paint, Carpet & Ceramic Flooring * BR3 could also be a Den/Office * Cute Front Patio * Attached 1 Car Garage * Spacious Yard with Large Shade Trees and Fenced-in Backyard * All Buyers must be Approved to view property & be able to Close in less than 20 days * Buyers Agent responsible for checking on Schools, Taxes and Square Footage *

4. 2020-03-27
   listed $95,990

   Show marketing remark (513 chars)

   Totally renovated Ranch on a Full Bsmnt * Living Room has a Fireplace & Crown Molding * Kitchen has been updated with New Stainless Appliances * New Paint, Carpet & Ceramic Flooring * BR3 could also be a Den/Office * Cute Front Patio * Attached 1 Car Garage * Spacious Yard with Large Shade Trees and Fenced-in Backyard * All Buyers must be Approved to view property & be able to Close in less than 20 days * Buyers Agent responsible for checking on Schools, Taxes and Square Footage *

5. 2019-09-26
   listed $94,990

ⓘ 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: $1,328 · $111/mo
• Projected year-2 tax: $1,328 · $111/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: $14,883
• − Mortgage interest: −$6,716
• − Property taxes: −$1,328
• − Insurance: −$600
• − Repairs & maintenance: −$1,191
• − Management: −$1,191
• − Depreciation: −$3,488
• Taxable income: $369
• Est. tax owed @ 24.0%: −$89
• After-tax cash flow: $2,196/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

+36.9% since first listed

6 events — show timeline

• 2026-06-08 Sold (MLS) $130,000 IRMLS
• 2026-05-04 Pending — IRMLS
• 2026-05-01 Listed $119,900 IRMLS
• 2020-05-18 Sold (MLS) $95,990 IRMLS
• 2020-03-27 Listed $95,990 IRMLS
• 2019-09-26 Listed $94,990 IRMLS

Property tax history

+7.8%/yr

Latest (2024): $1,328 · -4.8% YoY. Source: county tax records.