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    2722 Fairfield Ave Fort Wayne, IN 46807

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    2722 Fairfield Ave Fort Wayne, IN 46807

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    • Commercial real estate
    • 5,000 SF
    Off-Market
    Property ID
    US31-1297695
    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.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Center For Solution / Medical Clinic

    Property Details for 2722 Fairfield Ave

    Property size
    5,000 SF
    Property type
    Commercial real estate

    Description

    This attractive two-story, 5,000 square foot apartment building in Fort Wayne, Indiana, presents a compelling investment opportunity. Located at 2722 Fairfield Ave, 46807, this four-unit property boasts a strong rental history, currently generating $4,400 in monthly income. The building comprises two three-bedroom units and two two-bedroom units, each with a single bathroom. One unit is wheelchair accessible, enhancing its appeal to a wider tenant pool. The property features a long driveway and ample parking, providing convenient access for residents. Recent upgrades include exterior painting, a new heating system, and a new hot water heater, minimizing immediate maintenance needs. The building's history as a group home offers potential for conversion back to a single-family facility, providing flexibility for future use. Situated in Allen County, this property benefits from a desirable location and strong rental demand, making it an ideal addition to any investment portfolio. The asking price is $425,000. This is a turnkey opportunity with immediate cash flow.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Fort Wayne
    County
    Allen
    State
    Indiana
    Longitude
    -85.1455291
    Latitude
    41.0598291

    Comparable in this City

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      Six-Unit Investment Property in Fort Wayne

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    • New
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      Fort Wayne Duplex For Sale

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    • $175,000
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      Updated Duplex in Fort Wayne

      Updated duplex with long-term rental income potential in Fort Wayne.
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    • $179,900
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      Fort Wayne Duplex Investment

      Fully occupied duplex, great investment opportunity in Fort Wayne.
      3201 Dinnen Ave, Fort Wayne, IN 46807
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    • $225,000
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      Spacious Duplex on Corner Lot

      Updated duplex with development potential on a triple corner lot.
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    • $225,000
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      Well-Maintained Townhouse Duplex in Fort Wayne

      Duplex with separate utilities in a super location.
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    Similar Nearby for Sale

    • $499,000
      3,406 SF

      Six-Unit Investment Property in Fort Wayne

      Six-unit property with income potential near local amenities.
      4013 S Swayne Ave, Fort Wayne, IN 46807
      View Details
    • $225,000
      Pending

      Well-Maintained Townhouse Duplex in Fort Wayne

      Duplex with separate utilities in a super location.
      2414 S Swayne Ave, Fort Wayne, IN 46807
      View Details
    • $179,900
      2,168 SF

      Fort Wayne Duplex Investment

      Fully occupied duplex, great investment opportunity in Fort Wayne.
      3201 Dinnen Ave, Fort Wayne, IN 46807
      View Details
    • $225,000
      2,325 SF

      Spacious Duplex on Corner Lot

      Updated duplex with development potential on a triple corner lot.
      1302 Huestis Ave, Fort Wayne, IN 46807
      View Details
    • $175,000
      2,748 SF

      Updated Duplex in Fort Wayne

      Updated duplex with long-term rental income potential in Fort Wayne.
      2815 S Harrison St, Fort Wayne, IN 46807
      View Details
    • New
      $144,000
      2,532 SF

      Fort Wayne Duplex For Sale

      Cash-flowing duplex with income potential near downtown Fort Wayne.
      812-810 W Creighton Ave, Fort Wayne, IN 46807
      View Details
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    Fort Wayne, IN 46807
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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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