1608 W 14th St · Anderson, IN 46016

$59,900

3 bd · 2.0 ba · 1,852 sqft · SingleFamily public records · 130 Days on market

Built 1898 5,450 sqft lot $32/sqft · 37% below area

---

Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.5/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This fixer-upper property in Anderson holds endless possibilities for any investor, flipper, contractor, rehab buyer looking to build equity or general rental income or creative homeowner ready to transform it into a stunning asset! This spacious 4-5 bedroom, 2-bath property offering strong upside potential. This fixer-upper features a flexible floor plan that allows for conversion into a large single-family residence or a duplex. Solid structure with ample square footage, an unfinished basement for storage or future improvements. It has a brand-new roof. Whether you're ready to rehab and resell, rent it out, or create something entirely new, this property is a blank slate ready for your creativity. Convenient location. Endless Possibilities Await! Schedule a showing today...

Key facts

• Brand new roof
• Flexible floor plan
• Unfinished basement

Tags

• FLEXIBLE FLOOR PLAN
• UNFINISHED BASEMENT
• BRAND NEW ROOF
• CONVENIENT LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $60k.

Deal economics

• At list price, monthly cash flow is $591 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $53k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.1% vs local median 6.5% in Anderson — 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 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; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 184 units permitted in Madison County in 2024 (0 in 5+ unit buildings).
• This rent runs 41% 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 $414 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 7.9% rent growth), your $17k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 130 days — a 12% lower offer ($53k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1898 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $52,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 130 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1898 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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: 2.05% ✓
• Cap rate: 18.14%
• Cash-on-cash: 42.31%
• DSCR: 2.88
• GRM: 4.1

CMA / ARV

• ARV (median comp): $122,231
• List price: $59,900
• Delta: -50.99%
• 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
1019 W 9th St	0.50mi	3/2.0	1,830 (-1%)	5mo	$95,000	$52	71
1531 W 15th St	0.10mi	4/1.5 (+1)	1,740 (-6%)	10mo	$115,000	$66	70
1120 W 9th St	0.48mi	3/1.0	1,824 (-2%)	2mo	$125,000	$69	70
1702 Arrow Ave	0.24mi	3/1.0	1,983 (+7%)	4mo	$59,900	$30	69
1513 Dewey St	0.37mi	3/1.0	2,000 (+8%)	1mo	$138,500	$69	65
1008 Malibu Dr	0.58mi	3/2.0	1,769 (-4%)	2mo	$205,000	$116	64
1633 W 10th St	0.26mi	4/1.5 (+1)	2,050 (+11%)	2mo	$157,000	$77	61
1917 Cedar St	0.50mi	4/2.0 (+1)	1,676 (-10%)	2mo	$55,000	$33	54
1705 Fairview St	0.67mi	4/2.5 (+1)	1,782 (-4%)	3mo	$185,000	$104	53
1419 W 5th St	0.60mi	3/1.5	2,102 (+14%)	0mo	$58,000	$28	48
1329 W 3rd St	0.74mi	2/1.0 (-1)	1,752 (-5%)	2mo	$105,000	$60	45
1428 W 4th St	0.69mi	2/1.0 (-1)	2,092 (+13%)	8mo	$45,000	$22	31

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: 44.3%
• Equity multiple: 3.04×
• Total profit: $34,275
• Equity at exit: $8,931

10-year hold

• IRR: 52.3%
• Equity multiple: 7.38×
• Total profit: $107,038
• Equity at exit: $5,179

Cash invested: $16,772 (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: 4.1×

Monthly cashflow live

• Estimated rent: $1,228 high
• Mortgage (P&I): −$314
• Tax from tax record: −$39 /mo · $473/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$258
• Net cashflow: $591

Break-even live

Break-even rent $479

Max offer price $59,900

Occupancy floor 47%

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: $14,975
• Closing costs: $1,797
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1121 Victory Ct Anderson, IN	3.0	1.0	2053	$1,295	$0.63	22d	1	0.21mi
1532 Walton St Anderson, IN	3.0	1.0	1342	$1,100	$0.82	43d	1	0.39mi
921 W 9th St Anderson, IN	3.0	2.0	1611	$1,375	$0.85	23d	1	0.58mi
1212 W 5th St Anderson, IN	3.0	1.0	1252	$1,295	$1.03	12d	1	0.68mi
820 W 7th St Apt A Anderson, IN	2.0	2.0	1400	$1,200	$0.86	23d	1	0.74mi
2233 Fairview St Anderson, IN	3.0	1.5	1452	$1,195	$0.82	23d	1	0.88mi
510 W 5th St Anderson, IN	3.0	1.5	1617	$995	$0.62	43d	1	0.95mi
120 W 10th St Anderson, IN	1.0–3.0	1.0	1066	$1,150	$1.08	1d	1	1.02mi
2916 W 12th St Anderson, IN	3.0	1.0	1271	$1,295	$1.02	43d	1	1.13mi
1728 Walnut St Anderson, IN	3.0	2.0	2484	$1,295	$0.52	23d	1	1.47mi

Listing history 14 events

1. 2026-06-18
   days on market $59,900 Active 130 DOM
2. 2026-06-17
   days on market $59,900 Active 129 DOM
3. 2026-06-16
   days on market $59,900 Active 128 DOM
4. 2026-06-15
   days on market $59,900 Active 127 DOM
5. 2026-06-13
   days on market $59,900 Active 125 DOM
6. 2026-06-09
   days on market $59,900 Active 121 DOM
7. 2026-06-08
   days on market $59,900 Active 120 DOM
8. 2026-06-07
   days on market $59,900 Active 119 DOM
9. 2026-06-05
   days on market $59,900 Active 116 DOM
10. 2026-06-03
    days on market $59,900 Active 115 DOM
11. 2026-06-02
    days on market $59,900 Active 114 DOM
12. 2026-06-01
    days on market $59,900 Active 113 DOM
13. 2026-05-31
    days on market $59,900 Active 112 DOM
14. 2026-02-08
    listed $59,900 Active 786-char remark

    Show marketing remark (786 chars)

    This fixer-upper property in Anderson holds endless possibilities for any investor, flipper, contractor, rehab buyer looking to build equity or general rental income or creative homeowner ready to transform it into a stunning asset! This spacious 4-5 bedroom, 2-bath property offering strong upside potential. This fixer-upper features a flexible floor plan that allows for conversion into a large single-family residence or a duplex. Solid structure with ample square footage, an unfinished basement for storage or future improvements. It has a brand-new roof. Whether you're ready to rehab and resell, rent it out, or create something entirely new, this property is a blank slate ready for your creativity. Convenient location. Endless Possibilities Await! Schedule a showing today...

ⓘ 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: $473 · $39/mo
• Projected year-2 tax: $491 · $41/mo
• Expected delta: +$18/yr (+$1/mo · 3.8%)

ⓘ 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
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,731
• − Mortgage interest: −$3,355
• − Property taxes: −$473
• − Insurance: −$300
• − Repairs & maintenance: −$1,179
• − Management: −$1,179
• − Depreciation: −$1,743
• Taxable income: $6,504
• Est. tax owed @ 24.0%: −$1,561
• After-tax cash flow: $5,535/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

1 event — show timeline

• 2026-02-08 Listed $59,900 MIBOR as Distributed by MLS Grid

Property tax history

-2.2%/yr

Latest (2024): $473 · +9.1% YoY. Source: county tax records.