143 E School St · Anderson, IN 46012

$90,249

2 bd · 1.0 ba · 1,079 sqft · SingleFamily public records · 30 Days on market

Built 1920 6,500 sqft lot $84/sqft · 21% below area Est $115k · 21% under

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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 +29.5/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• Rent growth +3.0/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 143 East School Street, a property full of charm and potential in Anderson, Indiana. This home offers a spacious layout that invites customization and is perfect for creating a comfortable living environment. With classic character and a welcoming atmosphere, the property provides a solid foundation for buyers or investors to transform it into their vision. The outdoor space adds to the home’s appeal, offering an ideal area for relaxation or activities. Sold * * as-is * * , this property presents an excellent investment opportunity or a chance to craft a cozy residence. It's convenient location near local schools, amenities, and community spots further enhances its accessibility. Call Brian Ingle at 765-960-0533.

Key facts

• Outdoor space
• Convenient location
• 6,500 sq ft lot

Tags

• OUTDOOR SPACE
• INVESTMENT OPPORTUNITY
• CONVENIENT LOCATION

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Municipal sewer connected; Municipal solid waste service
• Home design: Single-family residence; One-story
• Construction: Vinyl siding; Block foundation
• Exterior features: Less than 1/4 acre lot (0.15 acres)

Interior

• Kitchen: Eat-in kitchen
• Bedrooms: Two bedrooms on the main level
• Bathrooms: One full bath on the main level
• Heating & cooling: Forced air heating; No central air
• Interior features: Eat-in kitchen; Basement
• Laundry & utility: Main-level laundry; Water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $90k.

Deal economics

• At list price, monthly cash flow is $322 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.6% 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 (+1.8%/yr); 159 active listings in the ZIP; 26 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $624 of loan paydown is wiped out by about $3k 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 + 1.8% rent growth), your $25k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($89k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $88,895 (1.5% below list)

Questions for the listing agent

1. Built in 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
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: 1.31% ✓
• Cap rate: 10.57%
• Cash-on-cash: 15.27%
• DSCR: 1.68
• GRM: 6.4

CMA / ARV

• ARV (median comp): $114,841
• List price: $90,249
• Delta: -21.41%
• 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
215 Mohawk St	0.09mi	3/1.0 (+1)	1,050 (-3%)	15mo	$121,000	$115	74
2102 Crystal St	0.36mi	3/1.0 (+1)	1,046 (-3%)	4mo	$125,000	$120	70
2413 Silver St	0.23mi	3/1.5 (+1)	1,008 (-7%)	5mo	$131,500	$130	67
2213 Lafayette St	0.39mi	3/1.0 (+1)	1,156 (+7%)	3mo	$129,900	$112	62
2018 Poplar St	0.42mi	3/1.0 (+1)	1,036 (-4%)	8mo	$100,000	$97	62
2417 Crystal St	0.03mi	2/2.0	925 (-14%)	12mo	$130,000	$141	61
2031 Poplar St	0.41mi	2/1.0	1,024 (-5%)	20mo	$75,000	$73	56
2446 Lafayette St	0.26mi	3/1.0 (+1)	1,236 (+15%)	4mo	$140,000	$113	56
504 Iroquois Dr	0.28mi	3/1.0 (+1)	960 (-11%)	13mo	$150,000	$156	53
2003 Crystal St	0.45mi	2/2.0	1,197 (+11%)	6mo	$21,500	$18	52
2108 Silver St	0.40mi	2/1.0	918 (-15%)	8mo	$98,400	$107	50
1809 Silver St	0.65mi	3/1.0 (+1)	942 (-13%)	21mo	$130,000	$138	26

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 · 1.82% rent growth · sell at horizon

5-year hold

• IRR: 4.6%
• Equity multiple: 1.18×
• Total profit: $4,482
• Equity at exit: $13,456

10-year hold

• IRR: 13.0%
• Equity multiple: 1.98×
• Total profit: $24,764
• Equity at exit: $7,803

Cash invested: $25,270 (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 46012

• Home prices YoY: -18.6%
• Rents YoY: 1.8%
• Active inventory: 159
• Price-to-rent: 6.4×

Monthly cashflow live

• Estimated rent: $1,181 high
• Mortgage (P&I): −$473
• Tax from tax record: −$100 /mo · $1,204/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$248
• Net cashflow: $322

Break-even live

Break-even rent $774

Max offer price $90,249

Occupancy floor 68%

Sensitivity live

Price	-10% $373	-5% $347	+0% $322	+5% $296	+10% $270
Rent	-10% $228	-5% $275	+0% $322	+5% $368	+10% $415
Rate	-1.0pp $367	-0.5pp $345	base $322	+0.5pp $298	+1.0pp $274

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: $22,562
• Closing costs: $2,707
• Reserves months: —
• Total cash needed: —

Rent comps 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
220 W Willow St Anderson, IN	3.0	1.0	1200	$1,250	$1.04	2d	1	0.32mi
235 W School St Unit 235 Anderson, IN	3.0	1.0	925	$1,200	$1.30	44d	1	0.33mi
632 W 300 N Anderson, IN	3.0	1.0	1196	$1,395	$1.17	45d	1	0.73mi
1321 Lafayette Ct Anderson, IN	3.0	1.5	962	$1,350	$1.40	11d	1	0.97mi
1705 Lake Shore Dr Unit 1705A Anderson, IN	2.0	2.0	912	$1,277	$1.40	44d	1	1.00mi
1705 Lake Shore Dr Unit 1705E Anderson, IN	1.0	1.0	758	$984	$1.30	24d	1	1.00mi
1705 Lake Shore Dr Unit 1705G Anderson, IN	2.0	2.0	912	$1,229	$1.35	18d	1	1.00mi
1807 Lake Shore Dr Unit 1807K Anderson, IN	2.0	2.0	912	$1,344	$1.47	44d	1	1.07mi
1716 N Cross Lakes Cir Unit 1716KN Anderson, IN	2.0	2.0	912	$1,274	$1.40	24d	1	1.07mi
1808 N Cross Lakes Cir Unit 1808HN Anderson, IN	2.0	2.0	944	$1,177	$1.25	3d	1	1.08mi
1812 N Cross Lakes Cir Unit 1812AN Anderson, IN	2.0	2.0	912	$1,229	$1.35	44d	1	1.08mi
1815 N Cross Lakes Cir Unit 1815HN Anderson, IN	1.0	1.0	750	$1,130	$1.51	24d	1	1.11mi
1800 Cross Lakes Blvd Anderson, IN	1.0–2.0	1.0–2.0	847	$1,344	$1.59	2d	22	1.12mi
1908 N Cross Lakes Cir Unit 1908DN Anderson, IN	1.0	1.0	758	$1,020	$1.35	44d	1	1.14mi
1805 S Cross Lakes Cir Unit 1805LS Anderson, IN	2.0	2.0	912	$1,294	$1.42	12d	1	1.14mi
1912 N Cross Lakes Cir Unit 1912HN Anderson, IN	2.0	2.0	944	$1,174	$1.24	12d	1	1.14mi
1704 S Cross Lakes Cir Unit 1704FS Anderson, IN	1.0	1.0	750	$1,130	$1.51	44d	1	1.15mi
1704 S Cross Lakes Cir Unit 1704DS Anderson, IN	1.0	1.0	750	$1,080	$1.44	11d	1	1.15mi
1708 S Cross Lakes Cir Unit 1708ES Anderson, IN	2.0	2.0	944	$1,115	$1.18	44d	1	1.16mi
1916 N Cross Lakes Cir Unit 1916EN Anderson, IN	1.0	1.0	758	$973	$1.28	44d	1	1.17mi
1916 N Cross Lakes Cir Unit 1916DN Anderson, IN	1.0	1.0	758	$1,039	$1.37	15d	1	1.17mi
1804 S Cross Lakes Cir Unit 1804DS Anderson, IN	2.0	2.0	944	$1,144	$1.21	44d	1	1.17mi
1812 S Cross Lakes Cir Unit 1812ES Anderson, IN	2.0	2.0	944	$1,115	$1.18	15d	1	1.18mi
1904 S Cross Lakes Cir Unit 1904LS Anderson, IN	2.0	2.0	912	$1,309	$1.44	44d	1	1.20mi
1904 S Cross Lakes Cir Unit 1904KS Anderson, IN	2.0	2.0	912	$1,183	$1.30	44d	1	1.20mi
1904 S Cross Lakes Cir Unit 1904CS Anderson, IN	1.0	1.0	750	$1,073	$1.43	44d	1	1.20mi

Listing history 16 events

1. 2026-06-18
   days on market $90,249 Active 30 DOM
2. 2026-06-17
   days on market $90,249 Active 29 DOM
3. 2026-06-16
   days on market $90,249 Active 28 DOM
4. 2026-06-15
   days on market $90,249 Active 27 DOM
5. 2026-06-13
   days on market $90,249 Active 25 DOM
6. 2026-06-09
   days on market $90,249 Active 21 DOM
7. 2026-06-08
   days on market $90,249 Active 20 DOM
8. 2026-06-07
   days on market $90,249 Active 19 DOM
9. 2026-06-05
   days on market $90,249 Active 16 DOM
10. 2026-06-03
    days on market $90,249 Active 15 DOM
11. 2026-06-02
    days on market $90,249 Active 14 DOM
12. 2026-06-01
    days on market $90,249 Active 13 DOM
13. 2026-05-31
    days on market $90,249 Active 12 DOM
14. 2026-04-29
    listed $90,249 Active 770-char remark

    Show marketing remark (742 chars)

    Welcome to 143 East School Street, a property full of charm and potential in Anderson, Indiana. This home offers a spacious layout that invites customization and is perfect for creating a comfortable living environment. With classic character and a welcoming atmosphere, the property provides a solid foundation for buyers or investors to transform it into their vision. The outdoor space adds to the home’s appeal, offering an ideal area for relaxation or activities. Sold * * as-is * * , this property presents an excellent investment opportunity or a chance to craft a cozy residence. It's convenient location near local schools, amenities, and community spots further enhances its accessibility. Call Brian Ingle at 765-960-0533.

15. 2025-11-18
    price $90,249
16. 2025-04-02
    price $90,250

ⓘ 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: $1,204 · $100/mo
• Projected year-2 tax: $1,204 · $100/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 69% 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: $14,170
• − Mortgage interest: −$5,055
• − Property taxes: −$1,204
• − Insurance: −$451
• − Repairs & maintenance: −$1,134
• − Management: −$1,134
• − Depreciation: −$2,625
• Taxable income: $2,566
• Est. tax owed @ 24.0%: −$616
• After-tax cash flow: $3,243/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): 20,855
• Household income: $58,041
• Rent vs Own: 32.3% rent · 67.7% own
• Severe rent burden: 987.0

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: Predominantly White (85%)
• Race & ethnicity: White 85% Hispanic / Latino 5% Two or more races 4% Black 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Serbian 2% Italian 1%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 96% 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: ▼ -61.16%
• Current HPI: 266.9819
• Rent YoY: ▲ 1.82%
• 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

-0.0% since first listed

4 events — show timeline

• 2026-05-18 Listed $90,249 MIBOR as Distributed by MLS Grid
• 2026-04-29 Listed $90,249 RRELMS
• 2025-11-18 Price Changed $90,249 RRELMS
• 2025-04-02 Price Changed $90,250 RRELMS

Property tax history

+13.9%/yr

Latest (2024): $1,204 · +7.8% YoY. Source: county tax records.