Duplex with Detached
1605 W 4Th Street, Fort Wayne, IN 46808
For Sale
New
$209,900
INVESTMENT, Two Story, Fort Wayne, IN
Property Size1,320 SF
Lot Size0.13 Acres
Price / SF$159.02
Days on Market2
Property Features for 1605 W 4Th Street
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Parking features
Basement
Lot features
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Directions
Subdivision
Standard status
APN
Size
Lot size
Additional Details
Individually Metered Utilities
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Amenities
laundry hookups
detached garage
Building Details
Year built
Floors in Building
Number of units
Flooring type
Roof type
Architectural style
Listing Agency:
Trueblood Real Estate, LLC.
(317) 288-5148
Listed By:
Richard Rutledge · License IN RB16000886
(260) 267-8220
Added: Nov 12
Last Checked: Nov 13 at 11:06PM
MLS# 202646637
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.
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Investment Insights
Based on property information with market context.
This two-story duplex contains 1,320 square feet across two units on a 0.13-acre lot. Each residence has its own gas and electric meter, gas forced-air furnace, and water heater. Both units also have basement access and separate laundry hookups. The lower unit has recently received new paint and carpet, and a detached garage provides additional storage space.
Built in 1935, the property has off-street parking and asphalt shingle roofing. It is located on W 4th Street in Fort Wayne.
Built in 1935, the property has off-street parking and asphalt shingle roofing. It is located on W 4th Street in Fort Wayne.
Key Highlights
- Two‑unit property with 1,320 square feet on a 0.13‑acre lot
- Separate gas and electric meters, gas forced‑air furnaces, and water heaters for each unit
- Basement access and separate laundry hookups in both residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$11,863
Cap Rate
5.65%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$237,260
$237.3K
Cap Rate 7%
$169,471
$169.5K
Cap Rate 9%
$131,811
$131.8K
Market Conditions
NOI Build-Up for 1,320 SF
Gross rent
$17.9K $13.56/SF
− Vacancy
−$952 −$0.72/SF
EGI
$16.9K $12.84/SF
− OpEx
−$5.1K −$3.85/SF
NOI
$11.9K $8.99/SF
Area
Allen County, IN
Vacancy
5.32%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$237,260
Cap Rate 7%
$169,471
Cap Rate 9%
$131,811
Alternative Uses
Best Use
Apartment 5plus
$989.3K
$865.7K – $1.15M
NOI $69,253 @ 7.0% cap
Second Best
Multifamily LT 5
$169.5K
$148.3K – $197.7K
NOI $11,863 @ 7.0% cap · market cap 5.65%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
320
Businesses Nearby
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Business Placement
Demographics for 46808, IN
19,894
Population
9,298
Households
2.1
Avg Household Size
35
Median Age
19%
College-Educated
88%
High-School Grad
10.6 sq mi
ZIP Area
1,877
Density / Sq Mi
$53,632
Median Household Income
$35,123
Median Earnings
$939
Median Rent
$127,800
Median Home Value
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Market
Average Price Trend$/SF for Duplexes in Fort Wayne, IN
Properties on Market for Duplexes in Fort Wayne
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two separate residences have individual gas and electric meters, heating systems, and water heaters.
Where is this duplex located?
The property is located at 1605 W 4Th Street Fort Wayne, IN.
What is the asking price?
The asking price for this property is $209,900.
What are key features of this property?
This property features: Two‑unit property with 1,320 square feet on a 0.13‑acre lot; Separate gas and electric meters, gas forced‑air furnaces, and water heaters for each unit; Basement access and separate laundry hookups in both residences
