1634 W 14th St · Anderson, IN 46016

$41,900

2 bd · 1.0 ba · 826 sqft · SingleFamily public records · 65 Days on market

Built 1915 5,000 sqft lot $51/sqft · 21% below area Est $66k · 37% under ↓ 10% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Key facts

• 5,000 sq ft lot
• Built 1915
• Listed 65 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $42k.

Deal economics

• At list price, monthly cash flow is $430 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($944 rent vs $42k).
• Recommended offer: $39k (6.0% below list) — sets the bar for market timing.
• Cap rate 18.6% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 45% 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 31% 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 $290 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 $12k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 65 days — a 6% lower offer ($39k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $39,386 (6.0% below list)

Questions for the listing agent

1. It's been on market 65 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 1915 — 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: 2.25% ✓
• Cap rate: 18.61%
• Cash-on-cash: 43.98%
• DSCR: 2.96
• GRM: 3.7

CMA / ARV

• ARV (median comp): $66,480
• List price: $41,900
• Delta: -36.97%
• 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
1632 W 17th St	0.20mi	2/1.0	840 (+2%)	12mo	$38,000	$45	78
1423 Halford St	0.24mi	3/1.0 (+1)	864 (+5%)	2mo	$68,000	$79	75
1830 Nichol Ave	0.18mi	2/1.0	943 (+14%)	4mo	$55,000	$58	65
1640 W 7th St	0.49mi	2/1.0	810 (-2%)	12mo	$98,500	$122	64
2308 W 16th St	0.45mi	2/1.0	756 (-8%)	3mo	$91,500	$121	62
2241 Nelle St	0.62mi	2/1.0	796 (-4%)	4mo	$66,500	$84	61
710 Henry St	0.51mi	3/1.0 (+1)	864 (+5%)	5mo	$108,900	$126	59
1812 Halford St	0.38mi	2/1.0	720 (-13%)	3mo	$50,000	$69	58
1516 Fulton St	0.41mi	2/1.0	720 (-13%)	3mo	$63,500	$88	57
2310 Halford St	0.71mi	2/2.0	744 (-10%)	2mo	$150,000	$202	45
2610 W 18th St	0.72mi	3/1.0 (+1)	900 (+9%)	13mo	$119,000	$132	36
2517 Horton Dr	0.71mi	3/1.0 (+1)	936 (+13%)	12mo	$128,000	$137	30

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: 46.6%
• Equity multiple: 3.17×
• Total profit: $25,486
• Equity at exit: $6,247

10-year hold

• IRR: 54.5%
• Equity multiple: 7.79×
• Total profit: $79,646
• Equity at exit: $3,623

Cash invested: $11,732 (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: 3.7×

Monthly cashflow live

• Estimated rent: $944 high
• Mortgage (P&I): −$220
• Tax from tax record: −$78 /mo · $940/yr
• Insurance: −$17
• HOA: −$0
• Vacancy / Maint / Mgmt: −$198
• Net cashflow: $430

Break-even live

Break-even rent $399

Max offer price $41,900

Occupancy floor 49%

Sensitivity live

Price	-10% $454	-5% $442	+0% $430	+5% $418	+10% $406
Rent	-10% $355	-5% $393	+0% $430	+5% $467	+10% $504
Rate	-1.0pp $451	-0.5pp $441	base $430	+0.5pp $419	+1.0pp $408

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: $10,475
• Closing costs: $1,257
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1616 W 16th St Anderson, IN	2.0	1.0	1038	$1,050	$1.01	44d	1	0.15mi
1640 W 17th St Anderson, IN	2.0	1.0	810	$895	$1.10	21d	1	0.20mi
1123 Louise St Anderson, IN	2.0	1.0	850	$850	$1.00	44d	1	0.21mi
1136 Irving Way Anderson, IN	2.0	1.0	900	$895	$0.99	22d	1	0.23mi
1720 Nelle St Anderson, IN	2.0	1.0	768	$1,100	$1.43	24d	1	0.26mi
1614 W 18th St Anderson, IN	2.0	1.0	690	$975	$1.41	24d	1	0.26mi
1404 Walton St Anderson, IN	3.0	1.0	1090	$995	$0.91	44d	1	0.32mi
1222 Nichol Ave Unit 4 Anderson, IN	3.0	1.0	1000	$1,135	$1.14	8d	1	0.35mi
2004 Arrow Ave Anderson, IN	2.0	1.0	816	$1,125	$1.38	24d	1	0.42mi
1502 Cedar St Anderson, IN	2.0	1.0	1104	$850	$0.77	44d	1	0.44mi
1631 W 7th St Anderson, IN	3.0	1.0	900	$1,000	$1.11	44d	1	0.47mi
1708 W 7th St Anderson, IN	1.0	1.0	700	$875	$1.25	20d	1	0.50mi
1708 W 7th St Anderson, IN	1.0	1.0	700	$1,000	$1.43	44d	1	0.50mi
1708 W 7th St Anderson, IN	1.0	1.0	700	$875	$1.25	18d	1	0.50mi
1627 W 6th St Anderson, IN	2.0	1.0	650	$850	$1.31	24d	1	0.54mi
1312 W 8th St Unit 1332 F Anderson, IN	2.0	1.0	850	$979	$1.15	44d	1	0.56mi
1312 W 8th St Unit 1308H Anderson, IN	1.0	1.0	750	$999	$1.33	15d	1	0.56mi
803 1/2 W 9th St Anderson, IN	1.0	1.0	600	$525	$0.88	44d	1	0.73mi
1020 W 5th St Unit 1022 Anderson, IN	1.0	1.0	550	$750	$1.36	44d	1	0.75mi
2208 Hendricks St Unit 3 Anderson, IN	1.0	1.0	585	$675	$1.15	44d	1	0.77mi
2705 Horton Dr Anderson, IN	3.0	1.0	936	$1,050	$1.12	21d	1	0.78mi
925 W 5th St Unit 1 Anderson, IN	1.0	1.0	617	$775	$1.26	17d	1	0.78mi
1529 W 2nd St Anderson, IN	3.0	1.0	884	$1,200	$1.36	24d	1	0.80mi
924 W 5th St Unit 924 Anderson, IN	1.0	1.0	750	$600	$0.80	24d	1	0.80mi
924 W 5th St Unit 928 Anderson, IN	1.0	1.0	600	$600	$1.00	44d	1	0.80mi
618 W 22nd St Anderson, IN	3.0	1.0	900	$1,250	$1.39	44d	1	0.86mi
702 W 23rd St Anderson, IN	1.0	1.0	560	$595	$1.06	5d	1	0.87mi
2411 Hendricks St Anderson, IN	3.0	1.0	860	$1,000	$1.16	24d	1	0.87mi
2301 Sheridan St Anderson, IN	2.0	1.0	900	$950	$1.06	44d	1	0.88mi
2613 Louise St Anderson, IN	2.0	1.0	1096	$950	$0.87	22d	1	0.90mi
215 S Madison Ave Anderson, IN	1.0	1.0	600	$650	$1.08	44d	1	0.91mi
213 Madison Ave Anderson, IN	1.0	1.0	600	$650	$1.08	44d	1	0.92mi
1010 W 2nd St Unit 2 Anderson, IN	2.0	1.0	875	$1,025	$1.17	22d	1	0.94mi
1010 W 2nd St Unit 1 Anderson, IN	1.0	1.0	724	$925	$1.28	24d	1	0.94mi
1010 W 2nd St Unit 3 Anderson, IN	3.0	1.0	1025	$1,125	$1.10	15d	1	0.94mi
2719 Dewey St Anderson, IN	2.0	1.0	877	$1,150	$1.31	44d	1	0.99mi
2203 W 28th St Anderson, IN	3.0	1.0	1068	$1,000	$0.94	44d	1	1.04mi
120 W 10th St Anderson, IN	1.0–3.0	1.0	1066	$1,025	$0.96	2d	1	1.08mi
2442 Morton St Anderson, IN	2.0	1.0	862	$1,125	$1.31	24d	1	1.09mi
519 W 2nd St Anderson, IN	1.0	1.0	650	$800	$1.23	44d	1	1.11mi

Listing history 15 events

1. 2026-06-18
   days on market $41,900 Active 65 DOM
2. 2026-06-17
   days on market $41,900 Active 64 DOM
3. 2026-06-16
   days on market $41,900 Active 63 DOM
4. 2026-06-15
   days on market $41,900 Active 62 DOM
5. 2026-06-13
   days on market $41,900 Active 60 DOM
6. 2026-06-09
   days on market $41,900 Active 56 DOM
7. 2026-06-08
   days on market $41,900 Active 55 DOM
8. 2026-06-07
   days on market $41,900 Active 54 DOM
9. 2026-06-05
   days on market $41,900 Active 51 DOM
10. 2026-06-03
    days on market $41,900 Active 50 DOM
11. 2026-06-02
    days on market $41,900 Active 49 DOM
12. 2026-06-01
    days on market $41,900 Active 48 DOM
13. 2026-05-31
    days on market $41,900 Active 47 DOM
14. 2026-05-05
    price $44,900
15. 2026-04-14
    listed $49,900 Active

ⓘ 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: $940 · $78/mo
• Projected year-2 tax: $940 · $78/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: $11,324
• − Mortgage interest: −$2,347
• − Property taxes: −$940
• − Insurance: −$210
• − Repairs & maintenance: −$906
• − Management: −$906
• − Depreciation: −$1,219
• Taxable income: $4,796
• Est. tax owed @ 24.0%: −$1,151
• After-tax cash flow: $4,008/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

-10.0% since first listed

2 events — show timeline

• 2026-05-05 Price Changed $44,900 MIBOR as Distributed by MLS Grid
• 2026-04-14 Listed $49,900 MIBOR as Distributed by MLS Grid

Property tax history

+3.9%/yr

Latest (2024): $940 · +9.0% YoY. Source: county tax records.