6222 Bridlewood Dr · Fort Wayne, IN 46835

$224,900

4 bd · 2.5 ba · 2,148 sqft · SingleFamily public records · 2 Days on market

Built 1977 9,880 sqft lot $105/sqft · 13% below area Est $259k · 13% under $4/mo HOA

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +16.4/30.0
• ARV discount +13.4/15.0
• DSCR +5.1/10.0
• Rent growth +4.7/5.0
• Livability +4.2/5.0
• 1% rule +3.6/10.0
• Condition / age +2.5/5.0
• Schools +2.2/10.0
• Appreciation +0.0/10.0

Listing remarks

OPEN HOUSE, SUNDAY, MAY 3, 1-3 PM. .. This charming 4-bedroom, 2.5-bath bi-level offers over 2,100 sq. ft. of living space. This spacious property features multiple living areas, providing flexibility for relaxing, entertaining, or working from home. All appliances are included (not warranted). Enjoy the generous backyard—perfect for outdoor gatherings, gardening, or play. This property is conveniently located to I469, PRMC, PFW, restaurants and shopping. This property is being sold "as is". Inspections welcome!

Key facts

• 9,880 sq ft lot
• 2 garage spots
• Built 1977

Property features AI

Finance

• Other: Subdivision: Bridlewood
• HOA & community: Homeowners association with $50 annual fee

Exterior

• Parking: Attached concrete garage; Two garage spaces; Off-street parking
• Utilities: Public water; Public sewer; Electric service
• Home design: Site-built single family home; Two stories
• Construction: Aluminum siding; Asphalt roof; Slab foundation; Built as site-built construction
• Exterior features: Deck; Porch; Level lot

Interior

• Kitchen: Disposal; Dishwasher; Microwave; Refrigerator; Electric range
• Bedrooms: Bedrooms located on main and lower levels
• Flooring: Carpet; Laminate
• Bathrooms: Two full bathrooms; One half bathroom; Two bathrooms on the main level
• Heating & cooling: Central air conditioning; Ceiling fans; Natural gas heating; Forced air heating
• Interior features: Entrance foyer; Ceiling fans; Single family residence layout; Fireplace in family room
• Laundry & utility: Electric dryer hookup; Laundry on lower level; Gas water heater

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $225k.

Deal economics

• At list price, monthly cash flow is $127 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $193k (14.3% below list).
• Recommended offer: $193k (14.3% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 4.7% in Fort Wayne — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 84/100 on livability (#6 in IN, #676 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime C-, employment D+.
• Fort Wayne Community Schools (urban): math 22% / reading 29% proficiency, ranked #263 of 301 in IN (top 87%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 60% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Willard Shambaugh Elementary Sch (math 37% / reading 27%, grade F, #652 of 994 statewide, top 68%, 320 students, 51% FRL); Jefferson Middle School (math 22% / reading 29%, grade F, #243 of 330 statewide, top 74%, 682 students, 58% FRL); Northrop High School (math 25% / reading 62%, grade F, #191 of 369 statewide, top 52%, 2,136 students, 54% FRL).
• Market conditions: Rents rising fast (+8.9%/yr); 180 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 75% of comp listings sitting > 30 days — soft ceiling on asking rent; solid renter incomes; 1,861 units permitted in Allen County in 2024 (576 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Allen County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $192,827 (14.3% below list)

Questions for the listing agent

1. Built in 1977 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 0.86% ✗
• Cap rate: 6.97%
• Cash-on-cash: 2.41%
• DSCR: 1.11
• GRM: 9.7

CMA / ARV

• ARV (median comp): $259,160
• List price: $224,900
• Delta: -13.22%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
6711 Sullivans Ct	0.36mi	4/2.5	2,140 (-0%)	3mo	$260,000	$121	80
6628 Hillsboro Ln	0.33mi	4/2.5	2,050 (-5%)	3mo	$295,000	$144	75
7717 Hightower Pl	0.50mi	4/2.5	2,236 (+4%)	1mo	$295,000	$132	69
7104 Tanbark Ln	0.29mi	4/2.5	1,924 (-10%)	3mo	$255,000	$133	67
5226 Brookview Dr	0.73mi	4/2.5	2,112 (-2%)	1mo	$262,000	$124	63
7824 Sunderland Dr	0.64mi	4/2.5	2,076 (-3%)	4mo	$307,500	$148	61
6926 Rockcroft Ct	0.56mi	4/2.5	1,957 (-9%)	1mo	$269,000	$137	58
6409 Margot Way	0.41mi	3/2.0 (-1)	2,368 (+10%)	2mo	$304,900	$129	55
7815 Sunderland Dr	0.63mi	4/2.5	2,455 (+14%)	3mo	$285,000	$116	44
7228 Evansbrook Dr	0.70mi	3/2.0 (-1)	1,945 (-10%)	1mo	$352,500	$181	44
6231 Belle Isle Ln	0.74mi	4/2.0	1,888 (-12%)	1mo	$280,000	$148	42
5231 Ann Hackley Dr	0.68mi	3/1.0 (-1)	1,890 (-12%)	4mo	$187,500	$99	34

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -7.5%
• Equity multiple: 0.71×
• Total profit: $-18,261
• Equity at exit: $33,533

10-year hold

• IRR: 7.1%
• Equity multiple: 1.64×
• Total profit: $40,583
• Equity at exit: $19,445

Cash invested: $62,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Indiana: 90 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

10-day pay-or-quit; landlord-favorable; preempted.

Methodology + full state rankings →

ZIP-level market 46835

• Rents YoY: 8.9%
• Active inventory: 180
• Price-to-rent: 9.7×

Monthly cashflow live

• Estimated rent: $1,928 medium
• Mortgage (P&I): −$1,179
• Tax from tax record: −$120 /mo · $1,436/yr
• Insurance: −$94
• HOA: −$4
• Vacancy / Maint / Mgmt: −$405
• Net cashflow: $127

Break-even live

Break-even rent $1,768

Max offer price $224,900

Occupancy floor 88%

Sensitivity live

Price	-10% $254	-5% $190	+0% $127	+5% $63	+10% $-1
Rent	-10% $-26	-5% $50	+0% $127	+5% $203	+10% $279
Rate	-1.0pp $240	-0.5pp $184	base $127	+0.5pp $68	+1.0pp $9

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $56,225
• Closing costs: $6,747
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6879 Solid Rock Dr Fort Wayne, IN	3.0	2.5	1900	$2,000	$1.05	44d	1	0.19mi
8796 Elmont Cv Fort Wayne, IN	3.0	2.0	1429	$1,999	$1.40	44d	1	1.09mi
7911 Sedgewick Pl Fort Wayne, IN	3.0	2.5	1806	$1,950	$1.08	44d	1	1.21mi
8797 Elmont Cv Fort Wayne, IN	3.0	2.0	1431	$1,999	$1.40	14d	1	1.32mi

HOA detail

• Monthly dues: $4 · $48/yr

Listing history 3 events

1. 2026-05-04
   status Pending 533-char remark
2. 2026-05-02
   listed $224,900 Active 533-char remark
3. 2026-04-30
   historical $224,900 533-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $1,436 · $120/mo
• Projected year-2 tax: $1,674 · $139/mo
• Expected delta: +$238/yr (+$20/mo · 16.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,139
• − Mortgage interest: −$12,598
• − Property taxes: −$1,436
• − Insurance: −$1,124
• − Repairs & maintenance: −$1,851
• − Management: −$1,851
• − HOA: −$48
• − Depreciation: −$6,543
• Taxable loss: −$2,312
• Est. tax savings @ 24.0%: +$555
• After-tax cash flow: $2,073/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Fort Wayne Community Schools
• NCES district ID: 1803630
• Math proficiency: 22% ▼ -11.00%
• Reading proficiency: 29% ▼ -7.00%
• Median HH income: $41,951
• Composite: 21.68/100
• National rank: #8275
• State rank: #263 of 301 in IN

Livability — Fort Wayne

• Score: 84/100
• State rank: #6
• US rank: #676

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime C- Employment D+ Housing A+ Health & safety A+ User ratings B-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fort Wayne, IN
• County: Allen County · 326,813 people
• City population: 326,813
• Metro: Fort Wayne, IN
• Population (ZIP): 38,166
• Household income: $77,152
• Rent vs Own: 26.0% rent · 74.0% own
• Severe rent burden: 961.0

Population outlook (Allen County) Hauer SSP2

• Today (2025): 394,020 people
• By 2030: 405,128 · +2.8%
• By 2040: 423,476 · +7.5%
• By 2050: 435,137 · +10.4%
• By 2075: 450,293 · +14.3%
• By 2100: 424,101 · +7.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (77%)
• Race & ethnicity: White 77% Two or more races 10% Hispanic / Latino 8% Black 6% Asian 3%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 3% Lithuanian 3% Romanian 2%
• Foreign-born: 6% · Canada, Vietnam, Philippines
• Languages at home: 91% English-only · Spanish 3% Other Asian/Pacific 2% Other Indo-European 1%

Political lean MEDSL · Allen

• 2024 margin: R (+12.5) · D 42.9% · R 55.4% · Other 1.7%
• 2008→2024 swing: -8.1pp toward R · 2008: -4.3pp · 2024: -12.5pp
• All cycles: 2024: R+12.5 2020: R+11.2 2016: R+19.6 2012: R+16.8 2008: R+4.3

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -236.62%
• Current HPI: 236.3419
• Rent YoY: ▲ 8.95%
• Metro: Fort Wayne, IN
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

Industry mix (Fortune 500 HQ in IN)

Industry	F500 HQs	Revenue
▸Industrial Machinery	2	$37B
▸Healthcare	1	$177B
▸Pharmaceuticals	1	$45B
▸Metals / Steel	1	$18B
▸Agriculture	1	$17B
▸Packaging	1	$12B

Price history

+0.0% since first listed

3 events — show timeline

• 2026-05-04 Pending — IRMLS
• 2026-05-02 Listed $224,900 IRMLS
• 2026-04-30 Coming Soon $224,900 IRMLS

Property tax history

+2.3%/yr

Latest (2024): $1,436 · +2.0% YoY. Source: county tax records.