1214 E 28th St · Anderson, IN 46016

$89,900

2 bd · 1.0 ba · 968 sqft · SingleFamily public records · 30 Days on market

Built 1920 5,320 sqft lot Est $70k · 29% 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 +20.9/30.0
• DSCR +6.7/10.0
• 1% rule +5.2/10.0
• Rent growth +4.5/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come take a look at this cozy 2 bed, 1 bath home located on the SE side of Anderson! Residence is situated on a corner lot, has a covered front porch and a nice sized deck off the back of the residence. Inside you will find a large living rm/dining rm combo, kitchen, a jack and jill bath, laundry room on main and some original hardwood floors. Home sits on top of a partial basement and perfect for extra storage.

Key facts

• Covered front porch
• Laundry room on main
• Jack and jill bath

Tags

• CORNER LOT
• COVERED FRONT PORCH
• NICE SIZED DECK
• JACK AND JILL BATH
• LAUNDRY ROOM ON MAIN
• ORIGINAL HARDWOOD FLOORS

Property features AI

Exterior

• Parking: On-street parking
• Utilities: Public water; Municipal sewer; 200+ amp electrical service; Electricity connected; Natural gas connected; Sewer connected; Water connected
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Block foundation
• Exterior features: Covered porch; Deck; Corner lot; Sidewalks; Storm sewer; Street lights

Interior

• Kitchen: Gas oven; Microwave; Refrigerator
• Bedrooms: 2 bedrooms on the main level
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating (natural gas); Window air conditioning units
• Interior features: Hardwood floors; Woodwork painted
• Laundry & utility: Main-level laundry; Washer; Dryer; 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 $125 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($919 rent vs $90k).
• Recommended offer: $89k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.0% vs local median 6.5% in Anderson — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 24d 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 $622 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 + 7.9% 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.
• 3 sale attempts since 19y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $88,551 (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. 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?
6. 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.
7. 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.
8. 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: 1.02% ✓
• Cap rate: 7.97%
• Cash-on-cash: 5.97%
• DSCR: 1.27
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $69,696
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2911 E Lynn St	0.14mi	2/1.0	1,092 (+13%)	8mo	$70,000	$64	65
826 E 31st St	0.31mi	2/1.0	1,056 (+9%)	8mo	$132,500	$125	64
2639 Central Ave	0.68mi	2/1.0	952 (-2%)	8mo	$57,000	$60	58
717 E 27th St	0.31mi	2/1.0	1,092 (+13%)	12mo	$74,900	$69	54
1221 E 22nd St	0.42mi	2/1.0	864 (-11%)	12mo	$65,000	$75	52
1718 Cincinnati Ave	0.71mi	2/1.0	898 (-7%)	4mo	$115,000	$128	52
220 E 29th St	0.64mi	2/1.0	924 (-4%)	15mo	$90,000	$97	50
3434 Forrest Ter	0.56mi	1/1.0 (-1)	882 (-9%)	12mo	$54,000	$61	44
3507 Columbus Ave	0.62mi	2/1.0	832 (-14%)	4mo	$60,000	$72	44
3546 Clark St	0.64mi	2/1.0	1,044 (+8%)	18mo	$65,500	$63	42

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: -1.9%
• Equity multiple: 0.93×
• Total profit: $-1,855
• Equity at exit: $13,404

10-year hold

• IRR: 12.4%
• Equity multiple: 2.20×
• Total profit: $30,148
• Equity at exit: $7,773

Cash invested: $25,172 (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: 8.2×

Monthly cashflow live

• Estimated rent: $919 high
• Mortgage (P&I): −$471
• Tax from tax record: −$91 /mo · $1,098/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$193
• Net cashflow: $125

Break-even live

Break-even rent $760

Max offer price $89,900

Occupancy floor 81%

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: $22,475
• Closing costs: $2,697
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1232 E 28th St Anderson, IN	2.0	2.0	795	$950	$1.19	43d	1	0.04mi
3009 E Lynn St Unit 1 Anderson, IN	3.0	1.0	1000	$875	$0.88	20d	1	0.24mi
1501 E 31st St Anderson, IN	2.0	1.0	840	$1,199	$1.43	20d	1	0.32mi
2233 E Lynn St Anderson, IN	1.0	1.0	700	$695	$0.99	1d	1	0.35mi
3006 Noble St Anderson, IN	2.0	1.0	1064	$995	$0.94	7d	1	0.43mi
702 E 23rd St Anderson, IN	1.0	1.0	560	$595	$1.06	14d	1	0.46mi
328 E 31st St Anderson, IN	1.0	1.0	600	$750	$1.25	43d	1	0.61mi
2002 Jefferson St Unit 3 Anderson, IN	1.0	2.0	725	$600	$0.83	43d	1	0.62mi
3000 Fletcher St Unit 3000 Anderson, IN	2.0	1.0	800	$650	$0.81	43d	1	0.63mi
1719 Johnson Ave Anderson, IN	1.0	1.0	616	$824	$1.34	43d	1	0.71mi
3614 Columbus Ave Anderson, IN	1.0	1.0	553	$725	$1.31	14d	1	0.72mi
2625 Main St Anderson, IN	2.0	1.0	988	$895	$0.91	23d	1	0.74mi
1710 Jefferson St Apt 2 Anderson, IN	2.0	1.0	550	$950	$1.73	43d	1	0.76mi
1726-1728 Walnut St Anderson, IN	2.0	2.0	900	$995	$1.11	1d	1	0.80mi
2111 Central Ave Anderson, IN	3.0	1.0	1026	$1,250	$1.22	43d	1	0.81mi
1411 Home Ave Anderson, IN	3.0	1.0	810	$1,295	$1.60	23d	1	1.01mi
2627 Chase St Anderson, IN	3.0	1.0	1050	$850	$0.81	17d	1	1.06mi
2324 Chase St Anderson, IN	2.0	1.0	783	$950	$1.21	43d	1	1.07mi
2904 Lincoln St Anderson, IN	2.0	1.0	864	$900	$1.04	43d	1	1.10mi
221 E 13th St Anderson, IN	1.0	1.0	595	$995	$1.67	14d	1	1.15mi
219 E 13th St Anderson, IN	3.0	1.0	882	$1,000	$1.13	3d	1	1.16mi
2442 Morton St Anderson, IN	2.0	1.0	862	$1,125	$1.31	23d	1	1.17mi
414 Wheeler Ave Apt B Anderson, IN	1.0	1.0	600	$650	$1.08	43d	1	1.20mi
1045 Alhambra Dr Unit 6 Anderson, IN	2.0	1.5	900	$975	$1.08	23d	1	1.20mi
1317 Main St Anderson, IN	2.0	1.0	750	$800	$1.07	43d	1	1.22mi
2820 Fairview St Unit A Anderson, IN	2.0	1.0	850	$895	$1.05	43d	1	1.22mi
223 E 11th St Anderson, IN	2.0	1.0	800	$900	$1.12	43d	1	1.27mi
1829 E 8th St Anderson, IN	1.0–3.0	1.0	810	$1,025	$1.27	23d	9	1.28mi
812 Mellen Dr Unit 814 Anderson, IN	2.0	1.0	924	$950	$1.03	1d	1	1.29mi
4415 Columbus Ave Apt 15 Anderson, IN	2.0	1.0	800	$800	$1.00	1d	1	1.29mi
917 E 8th St Unit 2 Anderson, IN	2.0	1.0	550	$825	$1.50	7d	1	1.31mi
618 W 22nd St Anderson, IN	3.0	1.0	900	$1,250	$1.39	43d	1	1.33mi
2301 Sheridan St Anderson, IN	2.0	1.0	900	$950	$1.06	43d	1	1.35mi
4426 Mellen Ct Anderson, IN	2.0	1.0	899	$900	$1.00	1d	1	1.35mi
702 W 23rd St Anderson, IN	1.0	1.0	560	$595	$1.06	4d	1	1.35mi
2505 E 10th St Anderson, IN	1.0–2.0	1.0	850	$949	$1.12	43d	2	1.41mi
4015 Haverhill Dr Anderson, IN	3.0	2.0	884	$1,100	$1.24	43d	1	1.44mi
2411 Hendricks St Anderson, IN	3.0	1.0	860	$1,000	$1.16	23d	1	1.45mi
919 E 6th St Apt 2 Anderson, IN	1.0	1.0	700	$625	$0.89	23d	1	1.45mi
2208 Hendricks St Unit 3 Anderson, IN	1.0	1.0	585	$675	$1.15	43d	1	1.45mi

Listing history 18 events

1. 2026-06-18
   days on market $89,900 Active 30 DOM
2. 2026-06-17
   days on market $89,900 Active 29 DOM
3. 2026-06-16
   days on market $89,900 Active 28 DOM
4. 2026-06-15
   days on market $89,900 Active 27 DOM
5. 2026-06-13
   days on market $89,900 Active 25 DOM
6. 2026-06-09
   days on market $89,900 Active 21 DOM
7. 2026-06-08
   days on market $89,900 Active 20 DOM
8. 2026-06-07
   days on market $89,900 Active 19 DOM
9. 2026-06-05
   days on market $89,900 Active 16 DOM
10. 2026-06-03
    days on market $89,900 Active 15 DOM
11. 2026-06-02
    days on market $89,900 Active 14 DOM
12. 2026-06-01
    days on market $89,900 Active 13 DOM
13. 2026-06-01
    price $89,900 Active 12 DOM
14. 2026-05-31
    days on market $99,900 Active 12 DOM
15. 2026-05-18
    listed $99,900 Active

    Show marketing remark (415 chars)

    Come take a look at this cozy 2 bed, 1 bath home located on the SE side of Anderson! Residence is situated on a corner lot, has a covered front porch and a nice sized deck off the back of the residence. Inside you will find a large living rm/dining rm combo, kitchen, a jack and jill bath, laundry room on main and some original hardwood floors. Home sits on top of a partial basement and perfect for extra storage.

16. 2026-05-18
    listed $99,900 Active 415-char remark

    Show marketing remark (415 chars)

    Come take a look at this cozy 2 bed, 1 bath home located on the SE side of Anderson! Residence is situated on a corner lot, has a covered front porch and a nice sized deck off the back of the residence. Inside you will find a large living rm/dining rm combo, kitchen, a jack and jill bath, laundry room on main and some original hardwood floors. Home sits on top of a partial basement and perfect for extra storage.

17. 2007-10-24
    historical
18. 2007-04-24
    listed $45,000

ⓘ 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: $1,098 · $91/mo
• Projected year-2 tax: $1,098 · $91/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 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: $11,023
• − Mortgage interest: −$5,036
• − Property taxes: −$1,098
• − Insurance: −$450
• − Repairs & maintenance: −$882
• − Management: −$882
• − Depreciation: −$2,615
• Taxable income: $61
• Est. tax owed @ 24.0%: −$15
• After-tax cash flow: $1,489/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

+122.0% since first listed

4 events — show timeline

• 2026-05-18 Listed $99,900 IRMLS
• 2026-05-18 Listed $99,900 MIBOR as Distributed by MLS Grid
• 2007-10-24 Listing Removed — MIBOR as Distributed by MLS Grid
• 2007-04-24 Listed $45,000 MIBOR as Distributed by MLS Grid

Property tax history

+14.4%/yr

Latest (2024): $1,098 · +8.8% YoY. Source: county tax records.