3001 Nichol Ave · Anderson, IN 46011

$144,900

3 bd · 1.5 ba · 2,004 sqft · SingleFamily public records · 41 Days on market

Built 1940 7,500 sqft lot $72/sqft · 31% below area Est $209k · 31% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +14.7/30.0
• DSCR +4.5/10.0
• 1% rule +3.2/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

Excellent investment opportunity with this home to make it yours however you wish. This amazing opportunity is sold AS-IS.

Key facts

• 7,500 sq ft lot
• 2 garage spots
• Built 1940

Property features AI

Exterior

• Parking: Attached 2-car garage (approximately 492 sq ft)
• Utilities: Public water; Municipal sewer connected; Solid waste service available
• Home design: Single-family residence; Two levels
• Construction: Wood siding; Crawl space foundation
• Exterior features: Lot under 1/4 acre (0.17 acre)

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: One bedroom on the main level; Three bedrooms on the upper level (total 4 bedrooms)
• Bathrooms: Two full bathrooms (one on main level, one on upper level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Eat-in kitchen; Living room; Bonus room; One fireplace
• Laundry & utility: No appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $145k.

Deal economics

• At list price, monthly cash flow is $36 ($432/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 $120k (17.5% below list).
• Recommended offer: $120k (17.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 60/100 on livability (#521 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+; Watch: crime D-, amenities F, commute F.
• Anderson Community School Corporation (urban): math 15% / reading 23% proficiency, ranked #280 of 301 in IN (top 93%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 70% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Anderson Elementary School (math 12% / reading 12%, grade F, #893 of 994 statewide, top 91%, 378 students, 92% FRL); Highland Middle School (math 9% / reading 22%, grade F, #293 of 330 statewide, top 90%, 914 students, 81% FRL); Anderson High School (math 21% / reading 51%, grade F, #261 of 369 statewide, top 71%, 1,790 students, 76% FRL).
• Market conditions: 108 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 184 units permitted in Madison County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Madison County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• It's been on market 41 days — a 3% lower offer ($141k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $52k; list at $145k implies a 179% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $119,500 (17.5% below list)

Questions for the listing agent

1. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 18% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are F-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. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
6. 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?
7. 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.
8. 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.
9. 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: 0.82% ✗
• Cap rate: 6.59%
• Cash-on-cash: 1.07%
• DSCR: 1.05
• GRM: 10.1

CMA / ARV

• ARV (median comp): $208,594
• List price: $144,900
• Delta: -30.53%
• 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
3128 W 12th St	0.28mi	3/2.0	1,928 (-4%)	11mo	$220,000	$114	70
902 Old Orchard Rd	0.48mi	4/2.0 (+1)	2,020 (+1%)	1mo	$269,900	$134	68
3134 Meadowcrest Dr	0.52mi	3/2.5	2,082 (+4%)	5mo	$217,000	$104	61
1117 Balfour Rd	0.38mi	3/2.0	1,779 (-11%)	0mo	$265,000	$149	61
3519 Oakwood	0.71mi	3/2.0	1,953 (-2%)	2mo	$265,000	$136	59
1518 S Winding Way	0.72mi	3/2.0	2,038 (+2%)	7mo	$222,000	$109	56
908 Wayside Ln	0.48mi	3/2.5	2,226 (+11%)	4mo	$225,000	$101	52
1008 Malibu Dr	0.73mi	3/2.0	1,769 (-12%)	2mo	$205,000	$116	43
718 Longfellow Rd	0.69mi	3/2.0	1,764 (-12%)	6mo	$195,000	$111	41
842 Wayside Ln	0.50mi	4/2.5 (+1)	2,274 (+14%)	9mo	$272,000	$120	38
906 Raible Ave	0.73mi	3/2.0	2,216 (+11%)	10mo	$140,000	$63	38
5 Willow Rd	0.75mi	3/2.0	2,300 (+15%)	8mo	$295,000	$128	32

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -14.6%
• Equity multiple: 0.48×
• Total profit: $-21,225
• Equity at exit: $21,605

10-year hold

• IRR: -6.0%
• Equity multiple: 0.61×
• Total profit: $-15,688
• Equity at exit: $12,528

Cash invested: $40,572 (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 46011

• Home prices YoY: -25.0%
• Active inventory: 108
• Price-to-rent: 10.1×

Monthly cashflow live

• Estimated rent: $1,195 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$88 /mo · $1,053/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$251
• Net cashflow: $36

Break-even live

Break-even rent $1,149

Max offer price $144,900

Occupancy floor 92%

Sensitivity live

Price	-10% $118	-5% $77	+0% $36	+5% $-5	+10% $-46
Rent	-10% $-58	-5% $-11	+0% $36	+5% $83	+10% $130
Rate	-1.0pp $109	-0.5pp $73	base $36	+0.5pp $-2	+1.0pp $-40

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: $36,225
• Closing costs: $4,347
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1121 Victory Ct Anderson, IN	3.0	1.0	2053	$1,195	$0.58	0d	1	1.37mi

Listing history 17 events

1. 2026-06-21
   days on market $144,900 Active 41 DOM
2. 2026-06-18
   days on market $144,900 Active 38 DOM
3. 2026-06-17
   price $144,900 Active 37 DOM
4. 2026-06-17
   days on market $151,900 Active 37 DOM
5. 2026-06-16
   days on market $151,900 Active 36 DOM
6. 2026-06-15
   days on market $151,900 Active 35 DOM
7. 2026-06-13
   days on market $151,900 Active 33 DOM
8. 2026-06-09
   days on market $151,900 Active 29 DOM
9. 2026-06-08
   days on market $151,900 Active 28 DOM
10. 2026-06-07
    days on market $151,900 Active 27 DOM
11. 2026-06-05
    days on market $151,900 Active 24 DOM
12. 2026-06-03
    days on market $151,900 Active 23 DOM
13. 2026-06-02
    days on market $151,900 Active 22 DOM
14. 2026-06-01
    days on market $151,900 Active 21 DOM
15. 2026-05-31
    days on market $151,900 Active 20 DOM
16. 2026-05-11
    listed $159,900 Active 122-char remark
17. 2007-09-19
    soldstatus $52,000

ⓘ 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: $1,053 · $88/mo
• Projected year-2 tax: $1,143 · $95/mo
• Expected delta: +$89/yr (+$7/mo · 8.5%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,340
• − Mortgage interest: −$8,117
• − Property taxes: −$1,053
• − Insurance: −$724
• − Repairs & maintenance: −$1,147
• − Management: −$1,147
• − Depreciation: −$4,215
• Taxable loss: −$2,064
• Est. tax savings @ 24.0%: +$495
• After-tax cash flow: $928/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: Anderson Community School Corporation
• NCES district ID: 1800150
• Math proficiency: 15% ▼ -14.00%
• Reading proficiency: 23% ▼ -7.00%
• Median HH income: $38,208
• Composite: 15.93/100
• National rank: #9250
• State rank: #280 of 301 in IN

Livability — Anderson

• Score: 60/100
• State rank: #521
• US rank: #18709

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Anderson, IN
• City population: 57,762
• Population (ZIP): 17,115

Population outlook (Madison County) Hauer SSP2

• Today (2025): 125,800 people
• By 2030: 122,640 · -2.5%
• By 2040: 115,420 · -8.3%
• By 2050: 108,148 · -14.0%
• By 2075: 91,838 · -27.0%
• By 2100: 75,670 · -39.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (79%)
• Race & ethnicity: White 79% Black 8% Hispanic / Latino 6% Two or more races 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 2% Iranian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 3%

Political lean MEDSL · Madison

• 2024 margin: Strong R (+26.9) · D 35.6% · R 62.5% · Other 1.9%
• 2008→2024 swing: -33.5pp toward R · 2008: 6.5pp · 2024: -26.9pp
• All cycles: 2024: R+26.9 2020: R+22.6 2016: R+25.7 2012: R+4.5 2008: D+6.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -90.13%
• Current HPI: 270.0253
• Rent YoY: —
• Metro: —
• 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

+178.7% since first listed

4 events — show timeline

• 2026-06-17 Price Changed $144,900 MIBOR as Distributed by MLS Grid
• 2026-05-26 Price Changed $151,900 MIBOR as Distributed by MLS Grid
• 2026-05-11 Listed $159,900 MIBOR as Distributed by MLS Grid
• 2007-09-19 Sold (Public Records) $52,000 Public Records

Property tax history

+1.5%/yr

Latest (2024): $1,053 · +8.4% YoY. Source: county tax records.