1310 Locust St · Anderson, IN 46016

$34,900

3 bd · 1.0 ba · 1,356 sqft · SingleFamily public records · 66 Days on market

Built 1924 5,663 sqft lot $26/sqft · 53% below area ↓ 37% since listing

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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 +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

Solidly built home needing renovation. 3 bed/1 bath with one bedroom being a pass-thru on upper level. Large detached garage and basement areas provide great storage. Great opportunity to add quick sweat equity!

Key facts

• 5,663 sq ft lot
• 2 garage spots
• Built 1924

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $561 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $33k (6.0% below list) — sets the bar for market timing.
• Cap rate 25.6% 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 fast (+7.9%/yr); 185 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 36% 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 $241 of loan paydown is wiped out by about $1k 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 $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($33k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 20y ago; this cycle's ask has dropped $5k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $29k; 20% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: property tax is 3.3% of price; built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $32,806 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1924 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 3.10% ✓
• Cap rate: 25.58%
• Cash-on-cash: 68.89%
• DSCR: 4.07
• GRM: 2.7

CMA / ARV

• ARV (median comp): $98,597
• List price: $34,900
• Delta: -64.60%
• 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
1209 Nichol Ave	0.08mi	2/1.0 (-1)	1,428 (+5%)	2mo	$23,750	$17	80
1430 W 14th St	0.20mi	2/1.0 (-1)	1,404 (+4%)	8mo	$141,000	$100	73
1310 W 13th St	0.11mi	2/1.0 (-1)	1,178 (-13%)	1mo	$62,000	$53	68
1644 W 7th St	0.59mi	3/1.0	1,351 (-0%)	10mo	$38,000	$28	64
1227 W 9th St	0.30mi	3/1.0	1,158 (-15%)	1mo	$84,000	$73	61
118 W 16th St	0.69mi	2/1.0 (-1)	1,330 (-2%)	1mo	$19,000	$14	59
1425 W 3rd St	0.71mi	2/1.0 (-1)	1,375 (+1%)	5mo	$114,000	$83	56
711 Madison Ave	0.42mi	3/2.0	1,506 (+11%)	7mo	$135,000	$90	52
827 W 9th St	0.38mi	2/2.0 (-1)	1,221 (-10%)	8mo	$50,000	$41	50
1107 W 3rd St	0.69mi	3/2.0	1,456 (+7%)	2mo	$155,000	$106	50
416 W 21st St	0.67mi	2/1.0 (-1)	1,296 (-4%)	12mo	$77,000	$59	47
904 W 6th St	0.55mi	3/1.0	1,556 (+15%)	6mo	$102,000	$66	45

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: 74.2%
• Equity multiple: 4.65×
• Total profit: $35,702
• Equity at exit: $5,204

10-year hold

• IRR: 79.4%
• Equity multiple: 11.50×
• Total profit: $102,625
• Equity at exit: $3,018

Cash invested: $9,772 (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: 2.7×

Monthly cashflow live

• Estimated rent: $1,083 high
• Mortgage (P&I): −$183
• Tax from tax record: −$97 /mo · $1,164/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$227
• Net cashflow: $561

Break-even live

Break-even rent $373

Max offer price $34,900

Occupancy floor 43%

Sensitivity live

Price	-10% $581	-5% $571	+0% $561	+5% $551	+10% $541
Rent	-10% $475	-5% $518	+0% $561	+5% $604	+10% $647
Rate	-1.0pp $579	-0.5pp $570	base $561	+0.5pp $552	+1.0pp $543

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: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1222 Nichol Ave Unit 4 Anderson, IN	3.0	1.0	1000	$1,135	$1.14	8d	1	0.10mi
1310 W 13th St Anderson, IN	2.0	1.0	1178	$895	$0.76	2d	1	0.10mi
1502 Cedar St Anderson, IN	2.0	1.0	1104	$850	$0.77	44d	1	0.16mi
921 W 9th St Anderson, IN	3.0	2.0	1611	$1,375	$0.85	24d	1	0.31mi
1616 W 16th St Anderson, IN	2.0	1.0	1038	$1,050	$1.01	44d	1	0.37mi
820 W 7th St Apt A Anderson, IN	2.0	2.0	1400	$1,200	$0.86	24d	1	0.48mi
1631 W 7th St Anderson, IN	3.0	1.0	900	$1,000	$1.11	44d	1	0.53mi
1136 Irving Way Anderson, IN	2.0	1.0	900	$895	$0.99	22d	1	0.55mi
1212 W 5th St Anderson, IN	3.0	1.0	1252	$1,295	$1.03	13d	1	0.55mi
618 W 22nd St Anderson, IN	3.0	1.0	900	$1,250	$1.39	44d	1	0.66mi
510 W 5th St Anderson, IN	3.0	1.5	1617	$995	$0.62	44d	1	0.68mi
229 W 19th St Anderson, IN	3.0	1.0	1200	$1,000	$0.83	44d	1	0.68mi
1404 Walton St Anderson, IN	3.0	1.0	1090	$995	$0.91	44d	1	0.70mi
120 W 10th St Anderson, IN	1.0–3.0	1.0	1066	$1,150	$1.08	2d	1	0.70mi
1532 Walton St Anderson, IN	3.0	1.0	1342	$1,100	$0.82	44d	1	0.72mi
2301 Sheridan St Anderson, IN	2.0	1.0	900	$950	$1.06	44d	1	0.72mi
2233 Fairview St Anderson, IN	3.0	1.5	1452	$1,195	$0.82	24d	1	0.73mi
1010 W 2nd St Unit 3 Anderson, IN	3.0	1.0	1025	$1,125	$1.10	15d	1	0.76mi
1010 W 2nd St Unit 2 Anderson, IN	2.0	1.0	875	$1,025	$1.17	22d	1	0.76mi
1529 W 2nd St Anderson, IN	3.0	1.0	884	$1,200	$1.36	24d	1	0.77mi
506 W 2nd St Anderson, IN	3.0	1.0	964	$1,095	$1.14	24d	1	0.87mi
219 E 13th St Anderson, IN	3.0	1.0	882	$1,000	$1.13	4d	1	0.95mi
2111 Central Ave Anderson, IN	3.0	1.0	1026	$1,250	$1.22	44d	1	1.05mi
2627 Chase St Anderson, IN	3.0	1.0	1050	$850	$0.81	18d	1	1.08mi
2613 Louise St Anderson, IN	2.0	1.0	1096	$950	$0.87	22d	1	1.09mi
2705 Horton Dr Anderson, IN	3.0	1.0	936	$1,050	$1.12	21d	1	1.14mi
1726-1728 Walnut St Anderson, IN	2.0	2.0	900	$995	$1.11	2d	1	1.17mi
2719 Dewey St Anderson, IN	2.0	1.0	877	$1,150	$1.31	44d	1	1.21mi
2625 Main St Anderson, IN	2.0	1.0	988	$895	$0.91	24d	1	1.27mi
2203 W 28th St Anderson, IN	3.0	1.0	1068	$1,000	$0.94	44d	1	1.27mi
3021 Delaware St Anderson, IN	2.0	1.0	1154	$1,150	$1.00	8d	1	1.35mi
2023 McKinley St Anderson, IN	2.0	1.0	1500	$950	$0.63	44d	1	1.44mi
228 E 29th St Anderson, IN	3.0	2.0	1440	$1,295	$0.90	5d	1	1.44mi
2916 W 12th St Anderson, IN	3.0	1.0	1271	$1,295	$1.02	44d	1	1.44mi
706 University Blvd Anderson, IN	2.0	1.0	1250	$1,050	$0.84	2d	1	1.47mi

Listing history 20 events

1. 2026-06-18
   days on market $34,900 Active 66 DOM
2. 2026-06-17
   days on market $34,900 Active 65 DOM
3. 2026-06-16
   days on market $34,900 Active 64 DOM
4. 2026-06-15
   days on market $34,900 Active 63 DOM
5. 2026-06-13
   days on market $34,900 Active 61 DOM
6. 2026-06-09
   days on market $34,900 Active 57 DOM
7. 2026-06-08
   days on market $34,900 Active 56 DOM
8. 2026-06-07
   days on market $34,900 Active 55 DOM
9. 2026-06-05
   days on market $34,900 Active 52 DOM
10. 2026-06-03
    days on market $34,900 Active 51 DOM
11. 2026-06-02
    days on market $34,900 Active 50 DOM
12. 2026-06-01
    days on market $34,900 Active 49 DOM
13. 2026-05-31
    days on market $34,900 Active 48 DOM
14. 2026-05-05
    price $34,900 214-char remark

    Show marketing remark (214 chars)

    Solidly built home needing renovation. 3 bed/1 bath with one bedroom being a pass-thru on upper level. Large detached garage and basement areas provide great storage. Great opportunity to add quick sweat equity!

15. 2026-04-13
    listed $39,900 Active 214-char remark

    Show marketing remark (214 chars)

    Solidly built home needing renovation. 3 bed/1 bath with one bedroom being a pass-thru on upper level. Large detached garage and basement areas provide great storage. Great opportunity to add quick sweat equity!

16. 2024-07-23
    soldstatus $29,000
17. 2007-09-29
    historical
18. 2007-03-30
    listed $45,000
19. 2006-10-29
    historical
20. 2006-07-28
    listed $55,000

ⓘ 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: $1,164 · $97/mo
• Projected year-2 tax: $1,164 · $97/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 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: $12,996
• − Mortgage interest: −$1,955
• − Property taxes: −$1,164
• − Insurance: −$174
• − Repairs & maintenance: −$1,040
• − Management: −$1,040
• − Depreciation: −$1,015
• Taxable income: $6,608
• Est. tax owed @ 24.0%: −$1,586
• After-tax cash flow: $5,146/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

-36.5% since first listed

7 events — show timeline

• 2026-05-05 Price Changed $34,900 MIBOR as Distributed by MLS Grid
• 2026-04-13 Listed $39,900 MIBOR as Distributed by MLS Grid
• 2024-07-23 Sold (Public Records) $29,000 Public Records
• 2007-09-29 Listing Removed — MIBOR as Distributed by MLS Grid
• 2007-03-30 Listed $45,000 MIBOR as Distributed by MLS Grid
• 2006-10-29 Listing Removed — MIBOR as Distributed by MLS Grid
• 2006-07-28 Listed $55,000 MIBOR as Distributed by MLS Grid

Property tax history

+3.7%/yr

Latest (2024): $1,164 · +9.4% YoY. Source: county tax records.