5129 Larekit Ln, Fort Wayne, IN, 46804 | $752/mo Cash Flow

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5129 Larekit Ln, Fort Wayne, IN, 46804 | $752/mo Cash Flow | Ziffy

For Sale

Fix & Flip

Ziffy Mortgage

NMLS #2625701

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Ziffy AI Summary

A quick, investor-focused snapshot highlighting income strength, yield potential.

Key metrics	Value
Price	$399,900
Est. Rent	$3,200/mo
ROI	18%

Attractive rent-to-price ratio for income stability
Good fit for DSCR financing with healthy coverage

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Investment Highlights

Investment property for sale in Fort Wayne at 5129 Larekit Ln, Fort Wayne, IN, 46804 uses $86,157 cash to close to unlock $9,023/yr annual cash flow and $752/mo monthly cash flow. Total monthly income runs $2,312/mo, and a $1,272/mo payment keeps the spread at $752/mo. Purchase price stands at $259,900, and rental yield measures 10.67% with $2,312/mo rent. Return on cash invested shows 30.38% in year one, and 5% annual appreciation builds toward $71,806 over five years. Five-year ROI reaches 158.75% and total cumulative return in cash records $136,774. Financing may use Ziffy Mortgage’s DSCR loan, which bases approval on $2,312/mo property income covering a $1,272/mo payment rather than investor’s personal income.

Single Family

Built in 1973

0.43 Acres lot

$N/A/sqft

No HOA

More details about the property

**Offer Accepted is First Right of Contingency-Seller is still allowing showings** Listed well under assessed value for its current condition! This charming 3 bed, 2.5 bath ranch offers 1,880 finished square feet plus an unfinished basement, situated on nearly half an acre. It just needs a little TLC to really shine! The foyer entrance opens into a spacious living room flowing into a formal dining room, with details including crown moulding and chair rails taking it to the next level. The kitchen connects to a family room featuring a wood-burning fireplace, built-in bookcases, beamed ceiling, backyard access, and a dining nook. Off the main entry, a hallway leads to the two-car garage with attic pull-down access. The main level also encompasses a shared full bath, three decent sized bedrooms, one of which is the main level primary suite including a double vanity, stand-up shower, and separate tub. The basement holds a large open rec room, a second woodburning fireplace, a half bath, laundry area, and a separated mechanical systems closet. Located near schools, hospitals, shopping, restaurants, groceries, parks, and nightlife! Public record reflects permits issued for roof work in 2012 and plumbing/electrical updates in 2021. This property combines space, convenience, and opportunity so don't miss the chance to buy a home under market value that is ready for your vision! Personal property to be auctioned online and will be removed by October 4, 2025. Public auction will take place beginning Thursday, September 25, 2025, and closing Wednesday, October 1, 2025. Please see link: https://scheerermcculloch.hibid.com/catalog/680400/ft-wayne--in-46804-appliances--furniture--jewelry--tools

Neighborhood Data

Neighborhood data shown for ZIP Code: 46804, Fort Wayne, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	13,704 (100%)
Owner Occupied HU	8,866 (64.7%)
Renter Occupied HU	4,275 (31.2%)
Vacant Housing Units	563 ( 4.1%)
Median Home Value	$272,764
Average Home Value	$304,067