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    Property profile & analytics

    1414 Reckeweg Rd Fort Wayne, IN 46804-1793

    • Residential income homes
    • 2,240 SF
    • 0.42 lot acres
    OFF-MARKET
    Value Estimation
    $240,000
    Location Intelligence
    Property ID
    US31-0590187
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Residential income homes

    Property Details for 1414 Reckeweg Rd

    Year built
    1961
    Construction
    WOOD
    Lot size
    0.42 lot acres
    Property size
    2,240 SF
    Property type
    Residential income homes
    Property subtype
    Small apartment buildings
    APN
    02-12-08-105-008.000-074
    APU
    21208105008000074

    Description

    This exceptional 10-unit apartment building presents a compelling investment opportunity in the thriving southwest Fort Wayne area. Priced at $1,040,000, this property boasts a strong 6.64% cap rate and a substantial net operating income (NOI) of $69,045, reflecting a 100% occupancy rate. The complex comprises two one-story buildings totaling 7,224 square feet situated on a 1.19-acre lot at 1414 Reckeweg Rd, Fort Wayne, IN 46804. Six of the ten units have been recently remodeled and updated, offering immediate upside potential through market rent adjustments. Its convenient location between Illinois Road and W. Jefferson Blvd, near Jefferson Pointe, provides easy access to I-69 and downtown Fort Wayne. The property benefits from its proximity to a retail corridor within a residential neighborhood, ensuring consistent demand. All units are well-maintained and currently occupied. Showings are by appointment only, following the execution of a Letter of Intent. This is a turnkey investment ready to generate immediate income.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $245,000

    • CAP approach

      CAP return
      Estimation
      6%
      $195,000
      6.5%
      $220,000
      7%
      $210,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $215,000
      Geo Method
      $230,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $180,000
      Retail
      $185,000
      Mixed-Use
      $235,000
      Hospitality
      $175,000
      Educational
      $195,000
      Residential Income
      $240,000
      Energy
      $175,000
      Income-Based Land
      $220,000
      Food Service
      $205,000

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.206
    Latitude
    41.0722
    CBSA code
    23060
    CBSA name
    FORT WAYNE, IN METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $1,658
    $14,700
    $57,800
    $72,500
    -
    $14,700
    $57,800
    $72,500

    Comparable in this City

    • Value Estimation
      $300,000
      3,476 SF

      3837 Sleepy Holw Ln

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,476 SF
      3837 Sleepy Holw Ln, Fort Wayne, IN 46804-6277
      View Details
    • Value Estimation
      $315,000
      3,432 SF

      3839 Sleepy Holw Ln

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,432 SF
      3839 Sleepy Holw Ln, Fort Wayne, IN 46804-6278
      View Details
    • Value Estimation
      $300,000
      3,600 SF

      3705 Sleepy Holw Ln

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,600 SF
      3705 Sleepy Holw Ln, Fort Wayne, IN 46804-6276
      View Details
    • Value Estimation
      $290,000
      3,432 SF

      3839 Sleepy Holw Ln

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,432 SF
      3839 Sleepy Holw Ln, Fort Wayne, IN 46804-6278
      View Details
    • Value Estimation
      $295,000
      2,314 SF

      2203 Reckeweg Rd

      APARTMENT HOUSE (UNDER 5 UNITS) • 2,314 SF
      2203 Reckeweg Rd, Fort Wayne, IN 46804-1727
      View Details
    • Value Estimation
      $305,000
      3,600 SF

      3705 Sleepy Holw Ln

      APARTMENT HOUSE (UNDER 5 UNITS) • 3,600 SF
      3705 Sleepy Holw Ln, Fort Wayne, IN 46804-6276
      View Details

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    Fort Wayne, IN 46804-1793
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    Realmo Value Estimation

    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.

    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.

    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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