Last Sold Price
42 beds27,600 sqft$94/sqft
7109 Homestead Rd, Fort Wayne, IN 46804

Description

Attention investors! Here's an opportunity to build just what you want. Whether you are just starting out or want to add to your portfolio; we have a plan for you. The owner of the property specializes in Multi-family construction. They just completed a similar project and are ready to start this complex for you. This site consist of 1.92 acres and has an existing detention pond. In our opinion the best use for the site would be a 14 unit residential rental complex consisting of fourteen 1448 square...Attention investors! Here's an opportunity to build just what you want. Whether you are just starting out or want to add to your portfolio; we have a plan for you. The owner of the property specializes in Multi-family construction. They just completed a similar project and are ready to start this complex for you. This site consist of 1.92 acres and has an existing detention pond. In our opinion the best use for the site would be a 14 unit residential rental complex consisting of fourteen 1448 square foot 3 bedroom 2.5 bath townhouses. All units will have a 288 square foot one car attached garage. All units will also have electric heat and central air. The price stated is turnkey today but subject to change with the ever changing commodity prices. We anticipate about 6 months construction time after approvals and permits. We also anticipate gross monthly rents to be $28,000 per month once fully occupied. The owner is the exclusive builder. They are flexible and open to your ideas. This development is subject to obtaining necessary government approvals. Pictures are for reference only.
LISTING CLOSED: 10/20/2023 12:00 AM

  1. Listed by Mark Noneman • Noneman Realty

Property Details for 7109 Homestead Road

Status
MLS #
202248359
Days on Market
196
Pet Policy
-
Taxes
$30,000 / year
HOA Fees
-
Condo/Co-op Fees
-
Property Type
MLS Type
Multi Family / Apartment Complex
Year Built
2022
Style
Other
Subdivision
None
Waterfront
No
Pet Restrictions
No

Recent comparable sales

Median sold price

$2,000,000

Avg days on market

57

Sale-to-list ratio

92.8%

Fort Wayne, IN

9 comparable properties found

$2,250,000 | 5310 Abbeyhill Road, Fort Wayne, IN 46814
1/37
1

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6
Bedrooms
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Square Feet
10.19
Acres
$6,750,000 | 5501 West Hamilton Road South, Fort Wayne, IN 46814
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8
Bedrooms
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Square Feet
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Acres
$2,300,000 | 2910 Covington Lake Drive, Fort Wayne, IN 46804
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3

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6
Bedrooms
9,687
Square Feet
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Acres
$2,125,000 | 3333 West Hamilton Road South, Fort Wayne, IN 46814
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Square Feet
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Acres
$2,000,000 | 11045 Highclere Place, Fort Wayne, IN 46814
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Square Feet
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Acres
$1,725,000 | 5414 Abbeyhill Road, Fort Wayne, IN 46814
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6

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Acres
$289,900 | 10817 Uncas Trail, Fort Wayne, IN 46804
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Square Feet
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Acres
$469,900 | 7136 Pine Lake Road, Fort Wayne, IN 46814
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Square Feet
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Acres
$333,500 | 6811 Bittersweet Dells Court, Fort Wayne, IN 46814
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3
Bedrooms
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Square Feet
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Acres

Location

Listing Courtesy of Noneman Realty

Sold By Noneman Realty

Add your commute

Building Information for 7109 Homestead Road

Building/Complex7109 Homestead RdFloor-Stories2Residences14Pet Policy-Pet Policy Details-Year Built2022Building Size-

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$15,715 per month

30 year fixed, 6.55% Interest

Principal and Interest

$13,215

Property Taxes

$2,500

HOA Dues

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Property Information for 7109 Homestead Road

Summary
Location and General Information
  • Area: Allen County
  • City: Fort Wayne
  • Zip Code: 46814
  • State: IN
  • Township: Aboite
  • Fips Code: 18003
  • Directions To Property: Just north of the intersection of Homestead Road and US 24. On the east side of the road.
  • Location: City/Town/Suburb
Taxes and HOA
  • Assoc Dues Frequency: Not Applicable
  • Year Taxes Payable: 0
  • Parcel Number Id: 02-11-27-351-003.000-075
  • Parcel Id 2: 02-11-27-351-003.001-075
School Information
  • School District: MSD of Southwest Allen Cnty
  • Elementary: Aboite
  • Middle School: Summit
  • High School: Homestead
Parking
  • Number Of Parking Spaces: 14
  • Parking: Paved
Property
Lot Information
  • Class: INVESTMENT
  • Property Subtype: Apartment Complex
  • Approx Lot Size Acres: 1.18
  • Lot Dimensions: 147 X 351
  • Below Grade Unfin Sqft: 0.0
  • Total Square Feet: 27600.0
  • Approx Lot Size Sqft: 51597.0
  • Above Grade Finished Sqft: 27600.0
  • Below Grade Finished Sqft: 0.0
  • Total Below Grade Sqft: 0.0
  • Total Finished Sqft: 27600.0
  • Above Grade Unfin Sqft: 0.0
  • Lot Description: Level
Property and Assessments
  • New Construction: Custom
  • Year Built: 2022
  • Age: 1
  • Planned Unit Development: No
Utilities
  • Electric Company: AEP/I&M
  • Sewer: City
  • Water Utility: City
Interior and Exterior Features
Exterior Features
  • Amenities: Patio Open
  • Driveway: Asphalt
  • Exterior: Brick, Vinyl
  • Outbuilding: None
  • Platted: Yes
  • Pool: No
  • Roof Material: Asphalt, Shingle
Interior Features
  • Number of Dishwashers: 0
  • Number of Disposals: 0
  • Number of Dryers: 0
  • Number of Microwaves: 0
  • Number of Ranges/Ovens: 0
  • Number of Refrigerators: 0
  • Number of W/D Hookups: 14
  • Number of Washers: 0
  • Basement: No
  • Basement/Foundation: Slab
  • Cooling: Central Air
  • Flooring: Mixed
  • Heating/Fuel: Electricity
  • Stories: 2
  • Number of Above Grade Bedrooms: 42
  • Number of Below Grade Baths: 0
  • Number of Below Grade Bedrooms: 0
  • Total Number of Bedrooms: 42
  • Total Number of Full Baths: 28
  • Total Number of Half Baths: 14
  • Total Baths: 42
  • Number Total Rooms Below Grade: 0
  • Num Of 1 Bedrooms: 0
  • Num Of 2 Bedrooms: 0
  • Num Of 3 Bedrooms: 14
  • Num Of 4 Bedrooms: 0
Multi Family
Multi-Family Information
  • Num of Efficiencies: 0
  • Num of Units Rented: 0
  • Number of Units: 14
Income & Expenses Information
  • Annual Electric Expense: $.00
  • Annual Fuel Expense: $.00
  • Annual Gross Rent $: $336,000
  • Annual Insurance Expense: $5,000
  • Annual Maint. Expense: $1,000
  • Annual Misc: $3,000
  • Annual Net Income: $286,000
  • Annual Property Tax: $30,000
  • Annual Trash Expense: $2,000
  • Annual Water/Sewer Exp: $9,000
  • Gross Monthly Income: $28,000
  • Gross Monthly Rent: $2,800
Rental
Rental Information
  • Lease Term: None
  • Owner Pays: Building Insurance, Lawn Maintenance, Maintenance, Sewer, Snow Removal, Trash Collection, Water
  • Tenant Pays: Cooling, Electric, Heating

Property History for 7109 Homestead Road

DateEvent & SourcePriceAppreciation
Oct 20, 2023

Sold (Public Record)

Public Record #1522145823

$350,000
Oct 20, 2023

Sold

Indiana Regional MLS #202248359

$2,600,000
Jun 15, 2023

Pending

Indiana Regional MLS #202248359

DateEvent & SourcePrice
10/20/2023

Sold (Public Record)

Public Record #1522145823

$350,000
10/20/2023

Sold

Indiana Regional MLS #202248359

$2,600,000
06/15/2023

Pending

Indiana Regional MLS #202248359

For completeness, we often displays two records for one sale: the MLS record and the public record.

Public Records for 7109 Homestead Road

Taxable ValueLand$324,900Additions$2,297,700Total$2,622,600
Tax Record2025$56,150 ($4,679 / month)
Home Facts
Total Finished SqFt27,104 SqFtAbove Grade Finished SqFt27,104 SqFtStories2Lot Size541,450,800 SqFtStyleMulti-Family Res (5+ Units)Year Built2024Year Renovated2024CountyALLENAPN02-11-27-351-003.000-075

Schools near 7109 Homestead Road

This home is within M S D Southwest Allen County Schls.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 6 to 12
Rating
School
Distance
Lafayette Meadow School
PublicK to 5

Summit Middle School
Public6 to 8

Homestead Senior High School
Public9 to 12

eSACS Virtual School
Public6 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Nearby home values

AddressSold priceBedsBathsSqftLot (Sqft)
This home: 7109 Homestead Road, Fort Wayne, IN 46804
$2,600,000
42
27,600
51,597
900
915
1,200
12,196,800
1,200
1,220
1,800
17,859,600
900
915

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of any information, descriptions or measurements (including square footage measurements and property condition), such should be independently verified through appropriate means, including, but not limited to, in person inspection and public records, and Compass International Holdings, its subsidiaries, affiliates and independently owned and operated franchisees, and their affiliated agents and associated third parties expressly disclaim any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the seller's discretion. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Noneman Realty

Based on information from one of the following Multiple Listing Services: MIBOR MLS,IRMLS,Southern Indiana REALTORS® Association,Southeastern Indiana Board of REALTORS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by MIBOR MLS,IRMLS,Southern Indiana REALTORS® Association,Southeastern Indiana Board of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.