Listing courtesy of Encore Sotheby's International Realty · Listing agent: David Weigand

Virtual tour
ActiveSite-Built Home

15514 Tonkel Road

$2,800,000

$2,382.98 / sq ft

Est. $16,786/mo

Leo, IN 46765-9767

  • Waterfront
  • 11 acres
  • 2-car garage
  • Fireplace
  • Basement
Bedrooms
3
Bathrooms
1
Living area
1,175 sq ft
Lot
11 ac
Year built
1917
Type
Site-Built Home
Listed
April 3, 2026
MLS #
202611322

About this home

Unique opportunity to own two parcels totaling 11 acres in a prime location in growing Leo and northwest Fort Wayne, offering exceptional flexibility for residential, business, or investment use. The primary 10.2-acre parcel features a 1,200 sq ft, three-bedroom ranch alongside a large flex building with recently expanded office space—ideal for a home-based business, workshop, or operations hub. The main barn features all concrete floors, providing durability and versatility for a variety of uses. Three expansive pole barns offer substantial capacity for equipment, materials, or tenant use. The main building is fully linked to the middle barn (Building 3), enhancing functionality for operations and communications. The home and buildings on this parcel are currently producing rental income, with existing leases that include a tree service, communications company, residential tenant, and additional storage rentals—delivering immediate cash flow for the next owner. A well-maintained pond adds both functionality and scenic appeal. The second parcel, spanning 0.8 acres, includes its own three-bedroom ranch with a separate driveway—well-suited for multi-generational living, guest accommodations, or additional rental income. With strong potential for construction operations, specialized storage and logistics, future residential development, or even a wedding/event venue, this property offers a rare combination of location, acreage, infrastructure, and income-producing capability. This property currently houses a business conducting active operations, therefore earliest possession is July 1st. The property will be clear of all equipment in the coming months.

Monthly payment estimate

$16,786/mo

Principal & interest
$15,326
Property taxes
$643
Homeowners insurance
$817
Your loan

  • Rate: Freddie Mac's 30-year fixed average for the week of October 1, 2026.
  • Taxes: the seller's 2025 bill as reported to the MLS. Yours may differ once your own deductions apply.
  • Insurance: estimated at 0.35% of the price per year.
  • An estimate, not a loan offer. Your rate and payment depend on your credit, loan program and down payment.
Change taxes, insurance and more in the full calculator

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Property details

Interior

Levels
One
Total rooms
5
Total area
1,625 sq ft
Finished area above grade
1,175 sq ft
Unfinished area below grade
450 sq ft
Below grade total
450 sq ft
Bedrooms above grade
3
Full baths, main level
1
Basement
Sump Pump, Unfinished
Heating
Natural Gas, Forced Air, Multiple Heating Systems
Cooling
Window Unit(s)
Fireplaces
1
Fireplace features
Family Room
Laundry
Main Level
Interior features
Guest Quarters, Near Walking Trail, Utility Sink

Exterior & parking

Construction
Vinyl Siding, Wood Siding
Garage spaces
2
Garage type
Carport
Garage sq ft
225 sq ft
Private pool
No
Other structures
Outbuilding
Other structures (2)
Pole/Post Building
Outbuilding 1
5,900 sq ft
Outbuilding 2
6,120 sq ft
New construction
No

Waterfront & lake

Waterfront
Yes
Waterfront features
Pier/Dock
Water feature
Pond

Lot

Lot features
Part Wooded, Waterfront, 10-14.999
Lot size (acres)
11 ac
Lot dimensions
900 x 532
Location type
City/Town/Suburb
County
Allen County
Township
Cedar Creek
Lots
0
Platted
Yes
Planned unit development
No
Directions
Tonkel Road N, just past Hosler Road.

Schools

Elementary school
Perry Hill
Middle school
Maple Creek
High school
Carroll
School district
Northwest Allen County

Taxes & terms

Annual taxes
$7,712
Tax year
2025
Possession
nego
Parcel number
02-03-18-301-001.000-042

Included in the sale

Included in sale
Dishwasher,Refrigerator,Range-Electric,Sump Pump,Water Heater Gas,Gazebo

Utilities

Water
City
Sewer
Public Sewer

Rooms

RoomLevelDimensions
Living RoomMain14 × 12 ft
KitchenMain8 × 11 ft
Bedroom 1Main8 × 10 ft
Bedroom 2Main10 × 12 ft
Bedroom 3Main12 × 12 ft
LaundryMain—

Location

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Area guide

Living in Leo-Cedarville

Neighborhoods, schools, cost of living and local housing trends — our guide to life in Leo-Cedarville.

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$2,800,000

3 beds · 1 bath