6222 Bruick Rd

Fort Wayne, IN 46774

$1,000D+

6 bd · 2.0 ba · 2,560 sqft · Built 1998 · SingleFamily · Active · 22 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,714/mo
• Mortgage (P&I): −$5
• Tax + insurance: −$2
• HOA: −$0
• Vac / Maint / Mgmt: −$360
• Net cashflow: $1,348/mo
• Annual: $16,170/yr
• Cap rate: 1623.32%
• Cash-on-cash: 5775.09%
• DSCR: 257.96
• 1% rule: 171.45%
• Cash to close: $280

Investor read

• This is a 6-bed/2.0-bath single-family listed at $1k.
• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $1k).
• It's been on market 22 days — a 2% lower offer ($985) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $985 (1.5% below list) — sets the bar for market timing.
• Local home prices are declining (-3.0%/yr); year-one equity from $7 of loan paydown is wiped out by about $30 of value loss. Plan a longer hold.
• 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+.
• East Allen County Schools (suburban): math 36% / reading 47% proficiency, ranked #122 of 301 in IN (top 40%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Woodlan Elementary School (math 48% / reading 55%, grade C-, #256 of 994 statewide, top 26%, 583 students, 41% FRL); Woodlan Jr/Sr High School (math 35% / reading 52%, grade F, #191 of 369 statewide, top 52%, 727 students, 31% FRL).
• Market conditions: 176 active listings in the ZIP; 1,861 units permitted in Allen County in 2024 (576 in 5+ unit buildings).
• Allen County population projected at +10% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $280 cash investment doubles in ~1 year — after that, you're playing with house money.
• Cap rate 1623.3% vs local median 4.8% 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.

Questions for listing agent

• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• 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?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• 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.
• 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.
• 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.