1403 W 3rd St · Anderson, IN 46016

$140,000

2 bd · 1.0 ba · 778 sqft · SingleFamily public records · 13 Days on market

Built 1928 6,204 sqft lot Est $98k · 43% over

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Why this score? — see what drove the F 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 +8.4/30.0
• Rent growth +4.5/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• DSCR +2.3/10.0
• 1% rule +1.6/10.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Home will make for a good fixer upper either for an investment property.

Key facts

• New plumbing
• New siding
• New hvac

Tags

• NEW ELECTRICAL
• NEW PLUMBING
• NEW SEWER LINES
• NEW WINDOWS
• NEW HVAC
• NEW SIDING

Property features AI

Finance

• Other: Property is on approximately 0.14 acre (< 1/4 acre); 100% of optional level finished

Exterior

• Utilities: Public water; Municipal sewer connected; No solid waste service listed
• Home design: Single-family residence; Updated/remodeled condition; One level
• Construction: Block foundation; Block and vinyl siding exterior
• Exterior features: Covered patio/porch

Interior

• Kitchen: Kitchen (10x10); MicroHood
• Bedrooms: Two main-level bedrooms; One basement bedroom
• Bathrooms: Two full bathrooms; Primary bathroom with tub and shower
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Finished basement with egress window(s); Accessible approach with ramp; MicroHood

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $-125 ($-1k/yr) — negative.
• To cash-flow at today's rent, offer at most $118k (15.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $92k (34.1% below list).
• Recommended offer: $92k (34.1% 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: schools F, crime D-, amenities 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.
• Market conditions: Rents rising fast (+7.9%/yr); 185 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 48% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 184 units permitted in Madison County in 2024 (0 in 5+ unit buildings).
• This rent runs 31% of the median local income ($36k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $968 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 21y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $22k; list at $140k implies a 536% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $92,210 (34.1% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1928 — 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: 0.66% ✗
• Cap rate: 5.22%
• Cash-on-cash: -3.82%
• DSCR: 0.83
• GRM: 12.7

CMA / ARV

• ARV (on-the-fly): $98,028
• Comps found: 4

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1640 W 7th St	0.32mi	2/1.0	810 (+4%)	12mo	$98,500	$122	68
710 Henry St	0.27mi	3/1.0 (+1)	864 (+11%)	5mo	$108,900	$126	60
1525 W 5th St	0.16mi	2/1.0	861 (+11%)	21mo	$115,000	$134	57
316 W 2nd St	0.71mi	1/1.0 (-1)	740 (-5%)	4mo	$35,000	$47	50

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 · 7.88% rent growth · sell at horizon

5-year hold

• IRR: -18.2%
• Equity multiple: 0.34×
• Total profit: $-25,940
• Equity at exit: $20,874

10-year hold

• IRR: -3.7%
• Equity multiple: 0.71×
• Total profit: $-11,484
• Equity at exit: $12,105

Cash invested: $39,200 (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 46016

• Home prices YoY: -3.5%
• Rents YoY: 7.9%
• Active inventory: 185
• Price-to-rent: 12.7×

Monthly cashflow live

• Estimated rent: $922 high
• Mortgage (P&I): −$734
• Tax from tax record: −$61 /mo · $729/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$194
• Net cashflow: $-125

Break-even live

Break-even rent $1,080

Max offer price $117,955

Occupancy floor —

Sensitivity live

Price	-10% $-46	-5% $-85	+0% $-125	+5% $-164	+10% $-204
Rent	-10% $-198	-5% $-161	+0% $-125	+5% $-88	+10% $-52
Rate	-1.0pp $-54	-0.5pp $-89	base $-125	+0.5pp $-161	+1.0pp $-198

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1529 W 2nd St Anderson, IN	3.0	1.0	884	$1,200	$1.36	24d	1	0.11mi
1010 W 2nd St Unit 1 Anderson, IN	1.0	1.0	724	$925	$1.28	24d	1	0.25mi
1010 W 2nd St Unit 2 Anderson, IN	2.0	1.0	875	$1,025	$1.17	22d	1	0.25mi
1010 W 2nd St Unit 3 Anderson, IN	3.0	1.0	1025	$1,125	$1.10	15d	1	0.25mi
1020 W 5th St Unit 1022 Anderson, IN	1.0	1.0	550	$750	$1.36	44d	1	0.26mi
215 S Madison Ave Anderson, IN	1.0	1.0	600	$650	$1.08	44d	1	0.26mi
213 Madison Ave Anderson, IN	1.0	1.0	600	$650	$1.08	44d	1	0.27mi
1627 W 6th St Anderson, IN	2.0	1.0	650	$850	$1.31	24d	1	0.28mi
1312 W 8th St Unit 1308H Anderson, IN	1.0	1.0	750	$999	$1.33	15d	1	0.29mi
1312 W 8th St Unit 1332 F Anderson, IN	2.0	1.0	850	$979	$1.15	44d	1	0.29mi
924 W 5th St Unit 924 Anderson, IN	1.0	1.0	750	$600	$0.80	24d	1	0.33mi
924 W 5th St Unit 928 Anderson, IN	1.0	1.0	600	$600	$1.00	44d	1	0.33mi
925 W 5th St Unit 1 Anderson, IN	1.0	1.0	617	$775	$1.26	17d	1	0.34mi
1631 W 7th St Anderson, IN	3.0	1.0	900	$1,000	$1.11	44d	1	0.34mi
1708 W 7th St Anderson, IN	1.0	1.0	700	$875	$1.25	18d	1	0.37mi
1708 W 7th St Anderson, IN	1.0	1.0	700	$1,000	$1.43	44d	1	0.37mi
1708 W 7th St Anderson, IN	1.0	1.0	700	$875	$1.25	20d	1	0.37mi
519 W 2nd St Anderson, IN	1.0	1.0	650	$800	$1.23	44d	1	0.57mi
506 W 2nd St Anderson, IN	3.0	1.0	964	$1,095	$1.14	24d	1	0.59mi
1222 Nichol Ave Unit 4 Anderson, IN	3.0	1.0	1000	$1,135	$1.14	8d	1	0.62mi
803 1/2 W 9th St Anderson, IN	1.0	1.0	600	$525	$0.88	44d	1	0.63mi
1123 Louise St Anderson, IN	2.0	1.0	850	$850	$1.00	44d	1	0.70mi
1136 Irving Way Anderson, IN	2.0	1.0	900	$895	$0.99	22d	1	0.72mi
1502 Cedar St Anderson, IN	2.0	1.0	1104	$850	$0.77	44d	1	0.87mi
1616 W 16th St Anderson, IN	2.0	1.0	1038	$1,050	$1.01	44d	1	0.91mi
120 W 10th St Anderson, IN	1.0–3.0	1.0	1066	$1,025	$0.96	2d	1	0.94mi
1404 Walton St Anderson, IN	3.0	1.0	1090	$995	$0.91	44d	1	0.94mi
1640 W 17th St Anderson, IN	2.0	1.0	810	$895	$1.10	21d	1	0.98mi
602 Meridian St Unit 608 A Anderson, IN	1.0	1.0	650	$750	$1.15	24d	1	0.98mi
602 Meridian St Apt C Anderson, IN	2.0	1.0	800	$900	$1.12	44d	1	0.98mi
1614 W 18th St Anderson, IN	2.0	1.0	690	$975	$1.41	24d	1	1.03mi
1720 Nelle St Anderson, IN	2.0	1.0	768	$1,100	$1.43	24d	1	1.05mi
2004 Arrow Ave Anderson, IN	2.0	1.0	816	$1,125	$1.38	24d	1	1.20mi
1317 Main St Anderson, IN	2.0	1.0	750	$800	$1.07	44d	1	1.21mi
223 E 11th St Anderson, IN	2.0	1.0	800	$900	$1.12	44d	1	1.25mi
219 E 13th St Anderson, IN	3.0	1.0	882	$1,000	$1.13	4d	1	1.30mi
221 E 13th St Anderson, IN	1.0	1.0	595	$995	$1.67	15d	1	1.31mi
1724 Greenwood Dr Anderson, IN	3.0	1.5	950	$1,025	$1.08	44d	1	1.34mi
2208 Hendricks St Unit 3 Anderson, IN	1.0	1.0	585	$675	$1.15	44d	1	1.35mi
618 W 22nd St Anderson, IN	3.0	1.0	900	$1,250	$1.39	44d	1	1.36mi

Listing history 9 events

1. 2026-06-18
   days on market $140,000 Active 13 DOM
2. 2026-06-17
   days on market $140,000 Active 12 DOM
3. 2026-06-16
   days on market $140,000 Active 11 DOM
4. 2026-06-15
   days on market $140,000 Active 10 DOM
5. 2026-06-13
   days on market $140,000 Active 8 DOM
6. 2026-06-09
   days on market $140,000 Active 4 DOM
7. 2026-06-08
   days on market $140,000 Active 3 DOM
8. 2026-06-07
   remarks 608-char remark
9. 2026-06-07
   listed $140,000 Active 2 DOM

ⓘ 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: $729 · $61/mo
• Projected year-2 tax: $959 · $80/mo
• Expected delta: +$231/yr (+$19/mo · 31.6%)

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

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (shaded) · 24% 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
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,065
• − Mortgage interest: −$7,842
• − Property taxes: −$729
• − Insurance: −$700
• − Repairs & maintenance: −$885
• − Management: −$885
• − Depreciation: −$4,073
• Taxable loss: −$4,049
• Est. tax savings @ 24.0%: +$972
• After-tax cash flow: $-526/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
• County: Madison County · 69,445 people
• City population: 57,762
• Metro: Indianapolis-Carmel-Anderson, IN
• Population (ZIP): 17,834
• Household income: $36,029
• Rent vs Own: 59.5% rent · 40.5% own
• Severe rent burden: 1193.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 61% Black 18% Hispanic / Latino 13% Two or more races 11% Native American 1%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Italian 2% Slovak 1% Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 86% English-only · Spanish 12%

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: ▼ -11.12%
• Current HPI: 302.7437
• Rent YoY: ▲ 7.88%
• Metro: Indianapolis-Carmel-Anderson, 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

+1547.1% since first listed

10 events — show timeline

• 2026-06-05 Listed $140,000 MIBOR as Distributed by MLS Grid
• 2023-06-05 Sold (MLS) $22,000 MIBOR as Distributed by MLS Grid
• 2023-05-12 Pending — MIBOR as Distributed by MLS Grid
• 2023-05-09 Listed $19,900 MIBOR as Distributed by MLS Grid
• 2016-04-08 Listing Removed — MIBOR as Distributed by MLS Grid
• 2015-04-27 Relisted — MIBOR as Distributed by MLS Grid
• 2015-04-26 Listing Removed — MIBOR as Distributed by MLS Grid
• 2013-10-25 Listed $29,900 MIBOR as Distributed by MLS Grid
• 2006-03-15 Sold (MLS) $5,000 MIBOR as Distributed by MLS Grid
• 2005-11-16 Listed $8,500 MIBOR as Distributed by MLS Grid

Property tax history

+5.1%/yr

Latest (2024): $729 · +8.3% YoY. Source: county tax records.