519 Milton Ave · Anderson, IN 46012

$74,900

2 bd · 1.0 ba · 986 sqft · SingleFamily public records · 29 Days on market

Built 1919 3,720 sqft lot $76/sqft · 26% above area Est $86k · 13% under

---

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 +29.1/30.0
• ARV discount +13.3/15.0
• DSCR +10.0/10.0
• 1% rule +7.3/10.0
• 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

Great Anderson location within blocks of both Anderson University and Downtown Anderson. This 1-2 bedroom home features 2 lots, a 2c-d garage, and an updated kitchen. You will be hard pressed to find a better deal with this location.

Key facts

• 2 lots
• Updated kitchen
• 3,720 sq ft lot

Tags

• UPDATED KITCHEN
• 2 LOTS

Property features AI

Finance

• Other: Property listed as fixer condition; Residential property subtype: Single Family Residence

Exterior

• Parking: Detached 2-car garage (approximately 400 sq ft)
• Utilities: Public water; Municipal sewer connected; Solid waste service available
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Block foundation
• Exterior features: Lot under 1/4 acre (approximately 0.09 acres)

Interior

• Kitchen: Kitchen on the main level
• Bedrooms: 1 bedroom on the main level
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Basement present; No built-in appliances listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $259 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($918 rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.4% 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; 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; 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 $518 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 + 1.8% rent growth), your $21k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 29 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $55k; 36% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $73,776 (1.5% below list)

Questions for the listing agent

1. Built in 1919 — 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: 1.23% ✓
• Cap rate: 10.43%
• Cash-on-cash: 14.79%
• DSCR: 1.66
• GRM: 6.8

CMA / ARV

• ARV (median comp): $86,023
• List price: $74,900
• Delta: -12.93%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
220 Central Ave	0.26mi	2/1.5	1,014 (+3%)	10mo	$109,000	$107	73
1310 E 7th St	0.53mi	3/1.0 (+1)	960 (-3%)	1mo	$135,000	$141	65
408 W 4th St	0.65mi	2/1.0	982 (-0%)	11mo	$40,000	$41	60
506 W 2nd St	0.73mi	3/1.0 (+1)	964 (-2%)	2mo	$58,500	$61	56
1541 Walnut St	0.71mi	3/1.0 (+1)	1,032 (+5%)	0mo	$47,398	$46	54
1228 Cincinnati Ave	0.47mi	3/1.0 (+1)	979 (-1%)	23mo	$108,900	$111	52
1610 Central Ave	0.73mi	2/1.0	975 (-1%)	15mo	$50,000	$51	52
1022 Tousey St	0.62mi	3/2.0 (+1)	1,076 (+9%)	9mo	$118,000	$110	40
1330 Pearl St	0.56mi	3/1.0 (+1)	1,090 (+10%)	18mo	$85,000	$78	36

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: 4.0%
• Equity multiple: 1.15×
• Total profit: $3,234
• Equity at exit: $11,168

10-year hold

• IRR: 12.5%
• Equity multiple: 1.94×
• Total profit: $19,631
• Equity at exit: $6,476

Cash invested: $20,972 (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: 6.8×

Monthly cashflow live

• Estimated rent: $918 high
• Mortgage (P&I): −$393
• Tax from tax record: −$43 /mo · $514/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$193
• Net cashflow: $259

Break-even live

Break-even rent $591

Max offer price $74,900

Occupancy floor 67%

Sensitivity live

Price	-10% $301	-5% $280	+0% $259	+5% $237	+10% $216
Rent	-10% $186	-5% $222	+0% $259	+5% $295	+10% $331
Rate	-1.0pp $296	-0.5pp $278	base $259	+0.5pp $239	+1.0pp $219

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
919 E 6th St Apt 2 Anderson, IN	1.0	1.0	700	$625	$0.89	24d	1	0.29mi
602 Meridian St Unit 608 A Anderson, IN	1.0	1.0	650	$750	$1.15	24d	1	0.32mi
602 Meridian St Apt C Anderson, IN	2.0	1.0	800	$900	$1.12	44d	1	0.32mi
917 E 8th St Unit 2 Anderson, IN	2.0	1.0	550	$825	$1.50	8d	1	0.33mi
414 Wheeler Ave Apt B Anderson, IN	1.0	1.0	600	$650	$1.08	44d	1	0.37mi
223 E 11th St Anderson, IN	2.0	1.0	800	$900	$1.12	44d	1	0.38mi
915 High St Unit 915 1/2 Anderson, IN	1.0	1.0	600	$650	$1.08	44d	1	0.38mi
219 E 13th St Anderson, IN	3.0	1.0	882	$1,000	$1.13	4d	1	0.51mi
120 W 10th St Anderson, IN	1.0–3.0	1.0	1066	$1,025	$0.96	2d	1	0.52mi
221 E 13th St Anderson, IN	1.0	1.0	595	$995	$1.67	15d	1	0.52mi
1411 Home Ave Anderson, IN	3.0	1.0	810	$1,295	$1.60	24d	1	0.53mi
1317 Main St Anderson, IN	2.0	1.0	750	$800	$1.07	44d	1	0.58mi
506 W 2nd St Anderson, IN	3.0	1.0	964	$1,095	$1.14	24d	1	0.73mi
519 W 2nd St Anderson, IN	1.0	1.0	650	$800	$1.23	44d	1	0.75mi
1710 Jefferson St Apt 2 Anderson, IN	2.0	1.0	550	$950	$1.73	44d	1	0.78mi
1726-1728 Walnut St Anderson, IN	2.0	2.0	900	$995	$1.11	2d	1	0.79mi
1719 Johnson Ave Anderson, IN	1.0	1.0	616	$824	$1.34	44d	1	0.85mi
803 1/2 W 9th St Anderson, IN	1.0	1.0	600	$525	$0.88	44d	1	0.86mi
1829 E 8th St Anderson, IN	1.0–3.0	1.0	810	$1,025	$1.27	24d	9	0.93mi
2002 Jefferson St Unit 3 Anderson, IN	1.0	2.0	725	$600	$0.83	44d	1	0.94mi
925 W 5th St Unit 1 Anderson, IN	1.0	1.0	617	$775	$1.26	17d	1	0.98mi
924 W 5th St Unit 928 Anderson, IN	1.0	1.0	600	$600	$1.00	44d	1	0.98mi
924 W 5th St Unit 924 Anderson, IN	1.0	1.0	750	$600	$0.80	24d	1	0.98mi
1045 Alhambra Dr Unit 6 Anderson, IN	2.0	1.5	900	$975	$1.08	24d	1	0.99mi
530 Alhambra Dr Anderson, IN	1.0–2.0	1.0	879	$1,100	$1.25	44d	1	0.99mi
213 Madison Ave Anderson, IN	1.0	1.0	600	$650	$1.08	44d	1	1.03mi
215 S Madison Ave Anderson, IN	1.0	1.0	600	$650	$1.08	44d	1	1.03mi
2111 Central Ave Anderson, IN	3.0	1.0	1026	$1,250	$1.22	44d	1	1.05mi
1020 W 5th St Unit 1022 Anderson, IN	1.0	1.0	550	$750	$1.36	44d	1	1.06mi
1010 W 2nd St Unit 3 Anderson, IN	3.0	1.0	1025	$1,125	$1.10	15d	1	1.06mi
1010 W 2nd St Unit 2 Anderson, IN	2.0	1.0	875	$1,025	$1.17	22d	1	1.06mi
1010 W 2nd St Unit 1 Anderson, IN	1.0	1.0	724	$925	$1.28	24d	1	1.06mi
702 E 23rd St Anderson, IN	1.0	1.0	560	$595	$1.06	15d	1	1.14mi
2233 E Lynn St Anderson, IN	1.0	1.0	700	$695	$0.99	2d	1	1.17mi
1312 W 8th St Unit 1308H Anderson, IN	1.0	1.0	750	$999	$1.33	15d	1	1.19mi
1312 W 8th St Unit 1332 F Anderson, IN	2.0	1.0	850	$979	$1.15	44d	1	1.19mi
1502 Cedar St Anderson, IN	2.0	1.0	1104	$850	$0.77	44d	1	1.23mi
1222 Nichol Ave Unit 4 Anderson, IN	3.0	1.0	1000	$1,135	$1.14	8d	1	1.24mi
2412 E 7th St Anderson, IN	2.0	1.0	600	$895	$1.49	2d	1	1.30mi
2324 Chase St Anderson, IN	2.0	1.0	783	$950	$1.21	44d	1	1.31mi

Listing history 7 events

1. 2026-06-05
   status $74,900 Pending 29 DOM
2. 2026-06-03
   days on market $74,900 Active 29 DOM
3. 2026-06-02
   days on market $74,900 Active 28 DOM
4. 2026-06-01
   days on market $74,900 Active 27 DOM
5. 2026-05-31
   days on market $74,900 Active 26 DOM
6. 2026-05-05
   listed $74,900 Active 235-char remark
7. 2025-11-25
   soldstatus $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: $514 · $43/mo
• Projected year-2 tax: $575 · $48/mo
• Expected delta: +$61/yr (+$5/mo · 11.9%)

ⓘ 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 · 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 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: $11,018
• − Mortgage interest: −$4,196
• − Property taxes: −$514
• − Insurance: −$374
• − Repairs & maintenance: −$881
• − Management: −$881
• − Depreciation: −$2,179
• Taxable income: $1,992
• Est. tax owed @ 24.0%: −$478
• After-tax cash flow: $2,624/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

+36.2% since first listed

3 events — show timeline

• 2026-06-03 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-05 Listed $74,900 MIBOR as Distributed by MLS Grid
• 2025-11-25 Sold (Public Records) $55,000 Public Records

Property tax history

+8.1%/yr

Latest (2024): $514 · +9.5% YoY. Source: county tax records.