Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Restored Fourplex with Off-Street Parking Title is generated by Realmo AI

    1115 W Wayne Street, Fort Wayne, IN 46802

    View on Map
    Claim this Listing
    New
    For Sale
    $464,000

    Fourplex - Fort Wayne, IN

    Property size:
    3,227 SF
    Lot size:
    0.17 Acres
    Price / SF:
    $143/SF
    Added:
    Jun 4, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 6 at 4:06 am

    Property Features for 1115 W Wayne Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    6
    Bathrooms
    4
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5, Laundry
    Patio and Porch features
    Porch
    EntryLevel
    Upper,Main
    Exterior features
    Basement, Off Street Parking, Porch Covered, None
    Appliances
    Dryer, Garbage Disposer, Range
    Standard status
    Active
    APN
    02-12-03-490-003.000-074
    Size
    3,227 SF
    Lot size
    0.17 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Floors in Building
    2
    Number of units
    4
    Flooring type
    Carpet, Wood
    Architectural style
    Other

    We can help!

    Listing Contact
    Pamela Waller

    Listing agent Pamela Waller License #RB14031834

    Listing office Remax Integrity 305 W. Van Buren St., Columbia City, IN

    Listing date Jun 4, 2026

    MLS# 202621891 Listing URL

    Copyright © 2026 Upstate Alliance of REALTORS® Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Four‑plex with two 2‑bedroom units and two 1‑bedroom units
    • Each unit includes central air and in‑unit washer/dryer
    • Off‑street parking available and property includes a covered porch
    • Forced‑air natural gas heating and carpet and wood flooring
    • Basement and in‑unit laundry hookups; appliances include range, dryer, and garbage disposer
    • Includes five bedrooms total across units with four bathrooms

    Overview

    This restored fourplex includes two 2-bedroom units and two 1-bedroom units. Each unit is equipped with in-unit washer and dryer and central air, supporting comfortable day-to-day living. The property also includes access to off-street parking, providing convenient options for residents.

    The building is located at 1115 W Wayne Street in Fort Wayne, Indiana (46802-5968), within Allen County. Public remarks indicate the property is in the West Central area and is located minutes from Downtown amenities, offering proximity to local services and employment.

    Designed for practical long-term rental operations, the unit mix provides a blend of household sizes, with both 1-bedroom and 2-bedroom layouts available in the same building. In-unit laundry and central air are meaningful upgrades for tenant appeal and can help reduce common maintenance and convenience concerns associated with shared laundry arrangements. Off-street parking further supports resident usability and day-to-day access.
    Property Profile Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center Law Firm

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.153639
    Latitude
    41.075808

    Nearby Similar for Sale

    • $450,000

      High Visibility Commercial Property

      Commercial property with high visibility and traffic flow.
      3112 N Clinton Street, Fort Wayne, IN 46805
      View Details
    • $379,999

      Retail Ready Commercial Property

      High-visibility corner lot suitable for retail or convenience operations.
      2915 S Calhoun Street, Fort Wayne, IN 46807
      View Details
    • $1,188,000

      Mixed-Use Motel and Apartment Property

      A flexible 16-room property currently used for professional business space and apartments, with separate front and back entrances.
      5634 W Jefferson Boulevard, Fort Wayne, IN 46804
      View Details
    • $990,000
      8,325 SF

      Modern Manufacturing Facility in Centennial Park

      Versatile industrial flex space ideal for manufacturing and warehousing.
      3209 Clearfield Court, Fort Wayne, IN 46808
      View Details
    • $2,000,000

      Aboite Township Mixed-Use Opportunity

      Open concept building in medical office community with flexible layout.
      7619 W Jefferson Boulevard, Fort Wayne, IN 46804
      View Details
    • $625,000
      3,945 SF

      Turn-Key Short-Term Rental Triplex

      Renovated triplex with three short-term rental units, offering flexible use as a rental property or larger household.
      3025 N Anthony Boulevard, Fort Wayne, IN 46805-2723
      View Details
    • $300,000

      Immaculate Church Building on Corner Lot

      Well-maintained church building with finished basement and great visibility.
      639 Putnam Street, Fort Wayne, IN 46808
      View Details
    • $350,000

      Restaurant and Redevelopment Opportunity

      8,335 SF building with restaurant and redevelopment potential.
      2650 S Coliseum Boulevard, Fort Wayne, IN 46803
      View Details
    • $580,000

      Unique Castle-Inspired Retail Opportunity

      Distinctive property with high visibility, suitable for diverse commercial uses.
      6623 SR 930, Fort Wayne, IN 46803
      View Details
    • $795,000

      Multi-Use Building in Fort Wayne

      Versatile building suitable for various purposes, including non-profit organizations.
      2100 Kentucky Avenue, Fort Wayne, IN 46805
      View Details
    • $300,000
      27,000 SF

      Versatile Property with Redevelopment Potential

      Expansive property with potential for multi-unit conversion or redevelopment.
      2440 Bowser Avenue, Fort Wayne, IN 46803
      View Details
    • $650,000

      Historic Landmark Ready for Renovation

      Five-story mixed-use building in downtown Fort Wayne, ready for renovation.
      812 S Calhoun Street, Fort Wayne, IN 46802-2302
      View Details

    FAQs

    What type of property is this?
    Quadplex - Renovated fourplex with two 2-bedroom and two 1-bedroom units, each with in-unit laundry and central air.
    Where is this quadplex located?
    The property is located at 1115 W Wayne Street Fort Wayne, IN.
    What is the asking price?
    The asking price for this property is $464,000.
    What are key features of this property?
    This property features: Four‑plex with two 2‑bedroom units and two 1‑bedroom units; Each unit includes central air and in‑unit washer/dryer; Off‑street parking available and property includes a covered porch
    (260) 609-6217
    We can help!
    Listing Contact
    Pamela Waller
    Real Estate License ID: RB14031834
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    1115 W Wayne Street, Fort Wayne, IN 46802-5968
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!