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    Income-Earning Two-Story Townhome Title is generated by Realmo AI

    977 N West Hamilton Road, Fort Wayne, IN 46814

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    For Sale
    $264,900

    Traditional, Other - Fort Wayne, IN

    Property size:
    1,832 SF
    Lot size:
    0.09 Acres
    Price / SF:
    $144/SF
    Added:
    Jun 2, 2026
    Days on Market:
    3
    Last Refresh:
    Jun 4 at 10:06 pm

    Property Features for 977 N West Hamilton Road

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Bedrooms
    3
    Bathrooms
    3
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 1, Bedroom 2, Bedroom 3, Laundry
    Parking features
    Garage, Garage - Attached, Off Street
    Patio and Porch features
    Patio
    EntryLevel
    Combined
    Exterior features
    Ceiling Fan, Off Street Parking, Near Walking Trail, Cable Ready, Closet(s) Walk-in, Countertops-solid Surf, Detector-carbon Monoxide, Detector-smoke, Garage Door Opener, Kitchen Island, Landscaped, Open Floor Plan, Pantry-walk In, Patio Open, Twin Sink Vanity, Water Heater Electric, Wiring-smart Home, None
    Appliances
    Dishwasher, Dryer, Garbage Disposer, Microwave, Range, Washer
    Standard status
    Active
    APN
    02-11-05-225-017.000-038
    Size
    1,832 SF
    Lot size
    0.09 Acres

    Taxes and HOA fees

    Expense value
    165
    Expense
    Home Owner Assessments Fee
    Expense freq.
    Monthly

    Utilities

    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Floors in Building
    2
    Number of units
    1
    Flooring type
    Carpet, Tile, Vinyl
    Building materials
    Stone
    Roof type
    Shingle
    Architectural style
    New Traditional
    Additional Structures
    Garage(s)

    We can help!

    Listing Contact
    Matthew Schrader

    Listing agent Matthew Schrader License #RB14052291

    Listing office Regan & Ferguson Group 5728 Coventry Lane, Fort Wayne, IN

    Listing date Jun 2, 2026

    MLS# 202621231 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

    • Income‑earning townhome with a lease signed through May 31, 2027; rent includes monthly HOA fees
    • 2‑story townhome offers 1,832 sq ft, 3 bedrooms, and 2.5 bathrooms
    • Open floor plan with 9' ceilings; kitchen includes island and stainless‑steel appliances plus pantry
    • Central air and forced‑air natural gas heating; electric water heater
    • Attached garage with EV charger, off‑street parking, and garage door opener
    • Smart‑home features: pre‑wired for smart capabilities (lights, security, garage doors, thermostat) plus keyless entry

    Overview

    This two-story, income-earning townhome offers 1,832 square feet with three bedrooms and 2.5 bathrooms. The main level features an open-concept great room and kitchen with an island and stainless-steel appliances, along with 9-foot ceilings and luxury LVP throughout. A slider from the breakfast nook opens to a spacious patio with a partial pond view, and privacy fences separate the units. Upstairs includes a small loft area, a laundry room with a Speed Queen washer and dryer included, and three comfortable bedrooms. The primary suite includes a counter-height vanity, shower unit, and a large walk-in closet, while the secondary bedrooms share a guest bathroom with a separate room for the toilet and tub/shower.

    The property is part of the Southwest Allen County School system. Ownership includes a maintenance-free lifestyle supported by the HOA, and there is an EV charger in the garage. The townhome is also pre-wired for smart home capabilities, including lights, security, garage doors, thermostat, and keyless entry.

    For investors, the current lease is signed through May 31, 2027, providing built-in income with rent structured to include the monthly HOA fees. For end users, the maintenance-free design and patio access create an appealing long-term home while preserving flexibility around the lease term and property upgrades already in place.
    Property Profile Location Intelligence

    Current Use by Public Records

    Single family properties

    Suggested Use

    (Bike/Boat/Book/etc) Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.307766
    Latitude
    41.085896

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    FAQs

    What type of property is this?
    Single family property - Maintenance-free living with modern finishes, patio access, and an in-place lease extending through May 31, 2027.
    Where is this single family property located?
    The property is located at 977 N West Hamilton Road Fort Wayne, IN.
    What is the asking price?
    The asking price for this property is $264,900.
    What are key features of this property?
    This property features: Income‑earning townhome with a lease signed through May 31, 2027; rent includes monthly HOA fees; 2‑story townhome offers 1,832 sq ft, 3 bedrooms, and 2.5 bathrooms; Open floor plan with 9' ceilings; kitchen includes island and stainless‑steel appliances plus pantry
    (260) 249-4253
    We can help!
    Listing Contact
    Matthew Schrader
    Real Estate License ID: RB14052291
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    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
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    977 N West Hamilton Road, Fort Wayne, IN 46814-0078
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