7101 In-930 Fort Wayne, IN 46803

Property Details for 7101 In-930

Year built

2025

Property size

2,812 SF

Property type

Apartment buildings

Description

This exceptional new construction two-unit apartment building in Fort Wayne, Indiana presents a compelling investment opportunity. Located at 7101 IN-930, Allen County, zip code 46803, this property boasts a total of 2,812 square feet, with each unit offering 1,406 square feet of living space. Each townhouse-style unit features three bedrooms, two and a half bathrooms, a two-car garage, and a private driveway. Construction commenced in June 2024, with vertical construction beginning in November 2024, and completion projected for 2025. The units are designed with modern "smart" features, including doorbell cameras, smart locks, and smart thermostats. Residents will enjoy convenient access to the adjacent New Haven Community Center, offering amenities such as a fitness center and pickleball courts, with a future splash pad planned. The asking price is $500,000, representing a price per unit of $250,000 and a price per square foot of $177.81. The projected pro-forma cap rate is 7.26%, yielding a net operating income (NOI) of $36,312. HOA dues cover water, sewer, trash, common area maintenance, landscaping, snow removal, and exterior maintenance, including roof repairs. A significant advantage is the five-year property tax abatement, phasing in over five years, with the investor projected to take possession of the completed property in year three of the abatement. The pro-forma reflects this tax information. A projected cap rate of 7% is anticipated once taxes reach full value. This property offers a strong return on investment with minimal ongoing maintenance responsibilities.

Location Insight

City

Fort Wayne

County

Allen

State

Indiana

Longitude

-85.0884

Latitude

41.0953