4826 Main St · Anderson, IN 46013

$119,000

3 bd · 1.0 ba · 1,025 sqft · SingleFamily public records · 66 Days on market

Built 1951 0.45 ac lot $116/sqft · 32% below area Est $196k · 39% under

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Why this score? — see what drove the C- 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 +17.7/30.0
• ARV discount +15.0/15.0
• DSCR +5.6/10.0
• 1% rule +4.4/10.0
• 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

Don't miss this turnkey single-family ranch located on the south side of Anderson! Whether you are looking for an updated home to move right into or seeking a cash-flowing addition to your portfolio, this property is the perfect fit. Just remodeled and strictly rent-ready, this home features 3 bedrooms, 1 bathroom, and over 1,000 sq ft of finished living space. Step inside to find a spacious living room that flows into a dining area and a large kitchen equipped with brand-new stainless steel appliances. Fresh paint and new flooring run throughout the home. New roof!! Outside, enjoy a massive covered front porch and a deep 1/2 acre lot offering plenty of room for outdoor activities. Ideally situated just 10 minutes from downtown, Anderson University, and Harrah's Casino, this location offers easy access to public transportation and local amenities-a major plus for rental demand. Capitalize on this is a golden opportunity in an excellent area today!

Key facts

• Local amenities
• Deep 1/2 acre lot
• Remodeled home

Tags

• TURNKEY SINGLE-FAMILY RANCH
• REMODELED HOME
• MASSIVE COVERED FRONT PORCH
• DEEP 1/2 ACRE LOT
• LOCAL AMENITIES

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $97 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $112k (6.3% below list).
• Recommended offer: $112k (6.3% below list) — sets the bar for 1% rule.

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: 150 active listings in the ZIP; 14 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 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 $823 of loan paydown is wiped out by about $4k 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 66 days — a 6% lower offer ($112k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 13y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $41k; list at $119k implies a 188% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1951 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $111,558 (6.3% 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 1951 — 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: 0.94% ✗
• Cap rate: 7.27%
• Cash-on-cash: 3.48%
• DSCR: 1.16
• GRM: 8.9

CMA / ARV

• ARV (median comp): $196,493
• List price: $119,000
• Delta: -39.44%
• 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
815 Delmar Rd	0.66mi	3/1.5	1,008 (-2%)	1mo	$95,000	$94	63
4715 Southern Ave	0.32mi	3/1.0	1,126 (+10%)	13mo	$189,000	$168	58
10 W 41st St	0.51mi	3/2.0	960 (-6%)	5mo	$141,000	$147	57
4221 Brown St	0.55mi	3/1.5	1,131 (+10%)	2mo	$128,500	$114	54
4203 Main St	0.42mi	2/1.0 (-1)	949 (-7%)	13mo	$126,000	$133	52
805 Saddle Ct	0.48mi	2/1.0 (-1)	1,126 (+10%)	9mo	$164,000	$146	48
223 E 53rd St	0.35mi	3/1.5	1,175 (+15%)	12mo	$190,000	$162	48
4406 Delmar Ct	0.72mi	3/1.5	912 (-11%)	2mo	$160,000	$175	45
515 Federal Dr	0.33mi	2/1.0 (-1)	895 (-13%)	18mo	$90,000	$101	44
4712 Southern Ave	0.35mi	2/1.0 (-1)	877 (-14%)	14mo	$135,000	$154	43
3907 Haverhill Dr	0.66mi	2/1.0 (-1)	1,143 (+12%)	5mo	$90,000	$79	41
912 Delmar Rd	0.73mi	4/1.5 (+1)	1,152 (+12%)	18mo	$183,000	$159	23

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: -10.8%
• Equity multiple: 0.61×
• Total profit: $-13,127
• Equity at exit: $17,743

10-year hold

• IRR: -1.5%
• Equity multiple: 0.89×
• Total profit: $-3,522
• Equity at exit: $10,289

Cash invested: $33,320 (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: 150
• Price-to-rent: 8.9×

Monthly cashflow live

• Estimated rent: $1,116 high
• Mortgage (P&I): −$624
• Tax from tax record: −$111 /mo · $1,331/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $97

Break-even live

Break-even rent $993

Max offer price $119,000

Occupancy floor 86%

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4426 Mellen Ct Anderson, IN	2.0	1.0	899	$900	$1.00	1d	1	0.46mi
417 E 55th St Anderson, IN	2.0	1.0	724	$1,100	$1.52	22d	1	0.51mi
4015 Haverhill Dr Anderson, IN	3.0	2.0	884	$1,100	$1.24	43d	1	0.58mi
812 Mellen Dr Unit 814 Anderson, IN	2.0	1.0	924	$950	$1.03	2d	1	0.58mi
4415 Columbus Ave Apt 15 Anderson, IN	2.0	1.0	800	$800	$1.00	1d	1	0.64mi
4021 Brown St Anderson, IN	2.0	1.0	1320	$975	$0.74	7d	1	0.65mi
4325 S Madison Ave Anderson, IN	1.0–3.0	1.0–1.5	995	$1,330	$1.34	1d	6	0.90mi
1626 Lora St Anderson, IN	3.0	2.0	1352	$1,295	$0.96	43d	1	0.94mi
5514 Arbor Dr Anderson, IN	1.0–2.0	1.0	723	$830	$1.15	11d	3	1.02mi
1326 McIntosh Ct Anderson, IN	1.0–3.0	1.0–2.0	856	$1,450	$1.69	1d	10	1.10mi
3021 Delaware St Anderson, IN	2.0	1.0	1154	$1,150	$1.00	7d	1	1.39mi
3000 Fletcher St Unit 3000 Anderson, IN	2.0	1.0	800	$650	$0.81	43d	1	1.41mi
3006 Noble St Anderson, IN	2.0	1.0	1064	$995	$0.94	7d	1	1.43mi
228 E 29th St Anderson, IN	3.0	2.0	1440	$1,295	$0.90	4d	1	1.49mi

Listing history 13 events

1. 2026-05-05
   status Active 961-char remark

   Show marketing remark (961 chars)

   Don't miss this turnkey single-family ranch located on the south side of Anderson! Whether you are looking for an updated home to move right into or seeking a cash-flowing addition to your portfolio, this property is the perfect fit. Just remodeled and strictly rent-ready, this home features 3 bedrooms, 1 bathroom, and over 1,000 sq ft of finished living space. Step inside to find a spacious living room that flows into a dining area and a large kitchen equipped with brand-new stainless steel appliances. Fresh paint and new flooring run throughout the home. New roof!! Outside, enjoy a massive covered front porch and a deep 1/2 acre lot offering plenty of room for outdoor activities. Ideally situated just 10 minutes from downtown, Anderson University, and Harrah's Casino, this location offers easy access to public transportation and local amenities-a major plus for rental demand. Capitalize on this is a golden opportunity in an excellent area today!

2. 2026-04-21
   status Active 961-char remark

   Show marketing remark (961 chars)

   Don't miss this turnkey single-family ranch located on the south side of Anderson! Whether you are looking for an updated home to move right into or seeking a cash-flowing addition to your portfolio, this property is the perfect fit. Just remodeled and strictly rent-ready, this home features 3 bedrooms, 1 bathroom, and over 1,000 sq ft of finished living space. Step inside to find a spacious living room that flows into a dining area and a large kitchen equipped with brand-new stainless steel appliances. Fresh paint and new flooring run throughout the home. New roof!! Outside, enjoy a massive covered front porch and a deep 1/2 acre lot offering plenty of room for outdoor activities. Ideally situated just 10 minutes from downtown, Anderson University, and Harrah's Casino, this location offers easy access to public transportation and local amenities-a major plus for rental demand. Capitalize on this is a golden opportunity in an excellent area today!

3. 2026-02-25
   status Pending 961-char remark

   Show marketing remark (961 chars)

   Don't miss this turnkey single-family ranch located on the south side of Anderson! Whether you are looking for an updated home to move right into or seeking a cash-flowing addition to your portfolio, this property is the perfect fit. Just remodeled and strictly rent-ready, this home features 3 bedrooms, 1 bathroom, and over 1,000 sq ft of finished living space. Step inside to find a spacious living room that flows into a dining area and a large kitchen equipped with brand-new stainless steel appliances. Fresh paint and new flooring run throughout the home. New roof!! Outside, enjoy a massive covered front porch and a deep 1/2 acre lot offering plenty of room for outdoor activities. Ideally situated just 10 minutes from downtown, Anderson University, and Harrah's Casino, this location offers easy access to public transportation and local amenities-a major plus for rental demand. Capitalize on this is a golden opportunity in an excellent area today!

4. 2026-02-06
   status Active 961-char remark

   Show marketing remark (961 chars)

   Don't miss this turnkey single-family ranch located on the south side of Anderson! Whether you are looking for an updated home to move right into or seeking a cash-flowing addition to your portfolio, this property is the perfect fit. Just remodeled and strictly rent-ready, this home features 3 bedrooms, 1 bathroom, and over 1,000 sq ft of finished living space. Step inside to find a spacious living room that flows into a dining area and a large kitchen equipped with brand-new stainless steel appliances. Fresh paint and new flooring run throughout the home. New roof!! Outside, enjoy a massive covered front porch and a deep 1/2 acre lot offering plenty of room for outdoor activities. Ideally situated just 10 minutes from downtown, Anderson University, and Harrah's Casino, this location offers easy access to public transportation and local amenities-a major plus for rental demand. Capitalize on this is a golden opportunity in an excellent area today!

5. 2025-12-11
   listed $119,000 Active 961-char remark

   Show marketing remark (961 chars)

   Don't miss this turnkey single-family ranch located on the south side of Anderson! Whether you are looking for an updated home to move right into or seeking a cash-flowing addition to your portfolio, this property is the perfect fit. Just remodeled and strictly rent-ready, this home features 3 bedrooms, 1 bathroom, and over 1,000 sq ft of finished living space. Step inside to find a spacious living room that flows into a dining area and a large kitchen equipped with brand-new stainless steel appliances. Fresh paint and new flooring run throughout the home. New roof!! Outside, enjoy a massive covered front porch and a deep 1/2 acre lot offering plenty of room for outdoor activities. Ideally situated just 10 minutes from downtown, Anderson University, and Harrah's Casino, this location offers easy access to public transportation and local amenities-a major plus for rental demand. Capitalize on this is a golden opportunity in an excellent area today!

6. 2015-02-13
   soldstatus $41,300 Sold 485-char remark

   Show marketing remark (485 chars)

   This home has been nicely updated and is move in ready. Recent improvements include updated electrical service, gutters, water lines, steps, new flooring throughout the house, new windows, and paint. the air ducts were cleaned and insulated. The location is excellent with quick access to interstate and amenities. The home has a large back yard and a huge covered front porch. There is also a high efficiency furnace, central air, and ceiling fans in many rooms. Immediate possession!

7. 2014-12-28
   status Pending 485-char remark

   Show marketing remark (485 chars)

   This home has been nicely updated and is move in ready. Recent improvements include updated electrical service, gutters, water lines, steps, new flooring throughout the house, new windows, and paint. the air ducts were cleaned and insulated. The location is excellent with quick access to interstate and amenities. The home has a large back yard and a huge covered front porch. There is also a high efficiency furnace, central air, and ceiling fans in many rooms. Immediate possession!

8. 2014-12-14
   status Active 485-char remark

   Show marketing remark (485 chars)

   This home has been nicely updated and is move in ready. Recent improvements include updated electrical service, gutters, water lines, steps, new flooring throughout the house, new windows, and paint. the air ducts were cleaned and insulated. The location is excellent with quick access to interstate and amenities. The home has a large back yard and a huge covered front porch. There is also a high efficiency furnace, central air, and ceiling fans in many rooms. Immediate possession!

9. 2014-12-01
   historical 485-char remark

   Show marketing remark (485 chars)

   This home has been nicely updated and is move in ready. Recent improvements include updated electrical service, gutters, water lines, steps, new flooring throughout the house, new windows, and paint. the air ducts were cleaned and insulated. The location is excellent with quick access to interstate and amenities. The home has a large back yard and a huge covered front porch. There is also a high efficiency furnace, central air, and ceiling fans in many rooms. Immediate possession!

10. 2014-05-29
    listed $41,000 Active 485-char remark

    Show marketing remark (485 chars)

    This home has been nicely updated and is move in ready. Recent improvements include updated electrical service, gutters, water lines, steps, new flooring throughout the house, new windows, and paint. the air ducts were cleaned and insulated. The location is excellent with quick access to interstate and amenities. The home has a large back yard and a huge covered front porch. There is also a high efficiency furnace, central air, and ceiling fans in many rooms. Immediate possession!

11. 2014-03-04
    historical
12. 2014-02-27
    soldstatus $18,000
13. 2013-12-16
    listed $21,000

ⓘ 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: $1,331 · $111/mo
• Projected year-2 tax: $1,331 · $111/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 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: $13,387
• − Mortgage interest: −$6,666
• − Property taxes: −$1,331
• − Insurance: −$595
• − Repairs & maintenance: −$1,071
• − Management: −$1,071
• − Depreciation: −$3,462
• Taxable loss: −$809
• Est. tax savings @ 24.0%: +$194
• After-tax cash flow: $1,355/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

+466.7% since first listed

13 events — show timeline

• 2026-05-05 Relisted — MIBOR as Distributed by MLS Grid
• 2026-04-21 Relisted — MIBOR as Distributed by MLS Grid
• 2026-02-25 Pending — MIBOR as Distributed by MLS Grid
• 2026-02-06 Relisted — MIBOR as Distributed by MLS Grid
• 2025-12-11 Listed $119,000 MIBOR as Distributed by MLS Grid
• 2015-02-13 Sold (MLS) $41,300 MIBOR as Distributed by MLS Grid
• 2014-12-28 Pending — MIBOR as Distributed by MLS Grid
• 2014-12-14 Relisted — MIBOR as Distributed by MLS Grid
• 2014-12-01 Listing Removed — MIBOR as Distributed by MLS Grid
• 2014-05-29 Listed $41,000 MIBOR as Distributed by MLS Grid
• 2014-03-04 Listing Removed — MIBOR as Distributed by MLS Grid
• 2014-02-27 Sold (MLS) $18,000 MIBOR as Distributed by MLS Grid
• 2013-12-16 Listed $21,000 MIBOR as Distributed by MLS Grid

Property tax history

+1.9%/yr

Latest (2024): $1,331 · +1069.3% YoY. Source: county tax records.