4106 Brown St · Anderson, IN 46013

$89,800

2 bd · 1.0 ba · 709 sqft · SingleFamily public records · 194 Days on market

Built 1948 4,961 sqft lot $127/sqft · 10% above area Est $82k · 10% over

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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).

• Cash flow +23.5/30.0
• DSCR +7.6/10.0
• 1% rule +5.4/10.0
• ARV discount +3.1/15.0
• 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 MLS

Nestled at 4106 Brown ST, Anderson, IN, this inviting home in Madison County is ready to welcome you. Within this single-family residence, discover a kitchen where the backsplash adds a touch of style, creating an inspiring space to explore your culinary passions. The property includes a shed, providing practical storage solutions, while the gambrel roof adds a unique architectural element. Enjoy outdoor living on the patio, perfect for relaxing or entertaining. With 709 square feet of living area, this 1948 home offers a wonderful opportunity to enjoy comfortable living.

Key facts

• Storage shed
• Gambrel roof
• Outdoor living patio

Tags

• KITCHEN BACKSPLASH
• GAMBREL ROOF
• OUTDOOR LIVING PATIO
• STORAGE SHED

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 $168 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($931 rent vs $90k).
• Recommended offer: $79k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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: 151 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $621 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.

Negotiation context

• It's been on market 194 days — a 12% lower offer ($79k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $79,024 (12.0% below list)

Questions for the listing agent

1. It's been on market 194 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 1948 — 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. 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?
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: 1.04% ✓
• Cap rate: 8.53%
• Cash-on-cash: 8.00%
• DSCR: 1.36
• GRM: 8.0

CMA / ARV

• ARV (median comp): $81,828
• List price: $89,800
• Delta: 9.74%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3826 Delaware St	0.15mi	2/1.0	672 (-5%)	10mo	$103,500	$154	75
4223 Delaware St	0.11mi	2/1.0	768 (+8%)	8mo	$52,000	$68	75
616 N Parkway Dr	0.46mi	2/1.0	720 (+2%)	15mo	$115,000	$160	64
728 Lonsvale Dr	0.56mi	2/1.0	725 (+2%)	13mo	$80,000	$110	60
313 E 39th St	0.51mi	2/1.0	775 (+9%)	2mo	$124,000	$160	59
128 E 36th St	0.56mi	2/1.0	762 (+8%)	4mo	$126,000	$165	58
204 E 34th St	0.66mi	3/1.0 (+1)	728 (+3%)	4mo	$109,000	$150	57
324 E 35th St	0.69mi	2/1.0	672 (-5%)	7mo	$130,000	$193	53
131 E 36th St	0.55mi	2/1.0	780 (+10%)	8mo	$133,500	$171	50
602 W 34th St	0.59mi	2/1.0	775 (+9%)	9mo	$125,000	$161	50
309 E 34th St	0.69mi	2/1.0	780 (+10%)	5mo	$130,000	$167	47
331 E 35th St	0.67mi	2/1.0	668 (-6%)	17mo	$72,500	$109	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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -4.1%
• Equity multiple: 0.84×
• Total profit: $-3,899
• Equity at exit: $13,389

10-year hold

• IRR: 5.5%
• Equity multiple: 1.41×
• Total profit: $10,271
• Equity at exit: $7,764

Cash invested: $25,144 (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 46013

• Home prices YoY: -26.9%
• Active inventory: 151
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $931 high
• Mortgage (P&I): −$471
• Tax from tax record: −$60 /mo · $720/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$196
• Net cashflow: $168

Break-even live

Break-even rent $719

Max offer price $89,800

Occupancy floor 77%

Sensitivity live

Price	-10% $218	-5% $193	+0% $168	+5% $142	+10% $117
Rent	-10% $94	-5% $131	+0% $168	+5% $204	+10% $241
Rate	-1.0pp $213	-0.5pp $190	base $168	+0.5pp $144	+1.0pp $121

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: $22,450
• Closing costs: $2,694
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4325 S Madison Ave Anderson, IN	1.0–3.0	1.0–1.5	995	$1,112	$1.12	3d	6	0.55mi
328 E 31st St Anderson, IN	1.0	1.0	600	$750	$1.25	45d	1	0.99mi
3614 Columbus Ave Anderson, IN	1.0	1.0	553	$725	$1.31	16d	1	1.00mi
417 E 55th St Anderson, IN	2.0	1.0	724	$1,100	$1.52	23d	1	1.09mi
2527 Chase St Anderson, IN	1.0	1.0	400	$650	$1.62	45d	1	1.18mi
2408 Brown St Apt B Anderson, IN	1.0	1.0	500	$850	$1.70	25d	1	1.32mi
702 W 23rd St Anderson, IN	1.0	1.0	560	$595	$1.06	5d	1	1.44mi
2208 Hendricks St Unit 3 Anderson, IN	1.0	1.0	585	$675	$1.15	45d	1	1.50mi

Listing history 15 events

1. 2026-06-21
   days on market $89,800 Active 194 DOM
2. 2026-06-18
   days on market $89,800 Active 191 DOM
3. 2026-06-17
   days on market $89,800 Active 190 DOM
4. 2026-06-16
   days on market $89,800 Active 189 DOM
5. 2026-06-15
   days on market $89,800 Active 188 DOM
6. 2026-06-13
   days on market $89,800 Active 186 DOM
7. 2026-06-09
   days on market $89,800 Active 182 DOM
8. 2026-06-08
   days on market $89,800 Active 181 DOM
9. 2026-06-07
   days on market $89,800 Active 180 DOM
10. 2026-06-05
    days on market $89,800 Active 177 DOM
11. 2026-06-03
    days on market $89,800 Active 176 DOM
12. 2026-06-02
    days on market $89,800 Active 175 DOM
13. 2026-06-01
    days on market $89,800 Active 174 DOM
14. 2026-05-31
    days on market $89,800 Active 173 DOM
15. 2025-12-08
    listed $89,800 Active 581-char remark

    Show marketing remark (581 chars)

    Nestled at 4106 Brown ST, Anderson, IN, this inviting home in Madison County is ready to welcome you. Within this single-family residence, discover a kitchen where the backsplash adds a touch of style, creating an inspiring space to explore your culinary passions. The property includes a shed, providing practical storage solutions, while the gambrel roof adds a unique architectural element. Enjoy outdoor living on the patio, perfect for relaxing or entertaining. With 709 square feet of living area, this 1948 home offers a wonderful opportunity to enjoy comfortable living.

ⓘ 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: $720 · $60/mo
• Projected year-2 tax: $742 · $62/mo
• Expected delta: +$22/yr (+$2/mo · 3.0%)

ⓘ 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 100% 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: $11,178
• − Mortgage interest: −$5,030
• − Property taxes: −$720
• − Insurance: −$449
• − Repairs & maintenance: −$894
• − Management: −$894
• − Depreciation: −$2,612
• Taxable income: $578
• Est. tax owed @ 24.0%: −$139
• After-tax cash flow: $1,872/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): 19,073
• Household income: $49,310
• Rent vs Own: 34.8% rent · 65.2% own
• Severe rent burden: 612.0

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 (83%)
• Race & ethnicity: White 83% Two or more races 8% Black 7% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 1%
• Foreign-born: 0% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -86.70%
• Current HPI: 235.7485
• Rent YoY: —
• 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

• 2025-12-08 Listed $89,800 MIBOR as Distributed by MLS Grid

Property tax history

+0.9%/yr

Latest (2024): $720 · +4.7% YoY. Source: county tax records.