1831 Poplar St · Anderson, IN 46012

$79,900

3 bd · 1.0 ba · 990 sqft · SingleFamily public records · 82 Days on market

Built 1922 7,000 sqft lot $81/sqft · at area comps Est $100k · 20% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 MLS

Now vacant, was rented for $850 per month. 2 bedroom, 1 bath home featuring a fenced-in backyard, back patio, and covered front porch—great for outdoor enjoyment. Washer and dryer hookups are located in the basement for added convenience.

Key facts

• Covered front porch
• Fenced-in backyard
• Back patio

Tags

• FENCED-IN BACKYARD
• BACK PATIO
• COVERED FRONT PORCH
• WASHER AND DRYER HOOKUPS

🏷️ Possibly a rental listed for sale. The $79,900 price doesn't fit this home's estimated sale value (~$100,290) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $405 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.4% 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; 18 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 $552 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 $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 21y 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 $25k; list at $80k implies a 220% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,106 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 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 1922 — 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: 1.58% ✓
• Cap rate: 12.38%
• Cash-on-cash: 21.73%
• DSCR: 1.97
• GRM: 5.3

CMA / ARV

• ARV (median comp): $100,290
• List price: $79,900
• Delta: -20.33%
• 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
2018 Poplar St	0.15mi	3/1.0	1,036 (+5%)	8mo	$100,000	$97	79
2102 Crystal St	0.23mi	3/1.0	1,046 (+6%)	4mo	$125,000	$120	77
530 Hawthorne Ave	0.46mi	3/1.0	1,008 (+2%)	8mo	$129,000	$128	68
2413 Silver St	0.51mi	3/1.5	1,008 (+2%)	5mo	$131,500	$130	67
1611 Poplar St	0.20mi	2/1.0 (-1)	896 (-10%)	5mo	$103,000	$115	65
2108 Silver St	0.24mi	2/1.0 (-1)	918 (-7%)	8mo	$98,400	$107	65
305 W Vinyard St	0.41mi	3/1.0	925 (-7%)	12mo	$119,900	$130	60
718 Hawthorne Ave	0.55mi	3/1.0	1,073 (+8%)	6mo	$175,000	$163	55
1827 Lowell Ave	0.60mi	3/1.0	1,066 (+8%)	14mo	$145,000	$136	47
416 Country Club Ln	0.48mi	2/1.0 (-1)	850 (-14%)	5mo	$127,500	$150	45
2417 Crystal St	0.54mi	2/2.0 (-1)	925 (-7%)	12mo	$130,000	$141	45
2608 Shawnee Dr	0.70mi	3/1.0	850 (-14%)	4mo	$110,000	$129	41

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: 13.0%
• Equity multiple: 1.51×
• Total profit: $11,417
• Equity at exit: $11,913

10-year hold

• IRR: 20.9%
• Equity multiple: 2.67×
• Total profit: $37,409
• Equity at exit: $6,908

Cash invested: $22,372 (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: 5.3×

Monthly cashflow live

• Estimated rent: $1,261 high
• Mortgage (P&I): −$419
• Tax from tax record: −$139 /mo · $1,669/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $405

Break-even live

Break-even rent $749

Max offer price $79,900

Occupancy floor 63%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 18 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1321 Lafayette Ct Anderson, IN	3.0	1.5	962	$1,350	$1.40	10d	1	0.42mi
235 W School St Unit 235 Anderson, IN	3.0	1.0	925	$1,200	$1.30	44d	1	0.59mi
1705 Lake Shore Dr Unit 1705G Anderson, IN	2.0	2.0	912	$1,229	$1.35	18d	1	0.97mi
1705 Lake Shore Dr Unit 1705A Anderson, IN	2.0	2.0	912	$1,277	$1.40	44d	1	0.97mi
1716 N Cross Lakes Cir Unit 1716KN Anderson, IN	2.0	2.0	912	$1,274	$1.40	24d	1	1.01mi
1808 N Cross Lakes Cir Unit 1808HN Anderson, IN	2.0	2.0	944	$1,177	$1.25	3d	1	1.03mi
1800 Cross Lakes Blvd Anderson, IN	1.0–2.0	1.0–2.0	847	$1,344	$1.59	2d	22	1.05mi
1807 Lake Shore Dr Unit 1807K Anderson, IN	2.0	2.0	912	$1,344	$1.47	44d	1	1.05mi
1812 N Cross Lakes Cir Unit 1812AN Anderson, IN	2.0	2.0	912	$1,229	$1.35	44d	1	1.06mi
1708 S Cross Lakes Cir Unit 1708ES Anderson, IN	2.0	2.0	944	$1,115	$1.18	44d	1	1.08mi
1805 S Cross Lakes Cir Unit 1805LS Anderson, IN	2.0	2.0	912	$1,294	$1.42	12d	1	1.09mi
1804 S Cross Lakes Cir Unit 1804DS Anderson, IN	2.0	2.0	944	$1,144	$1.21	44d	1	1.12mi
1912 N Cross Lakes Cir Unit 1912HN Anderson, IN	2.0	2.0	944	$1,174	$1.24	12d	1	1.14mi
1812 S Cross Lakes Cir Unit 1812ES Anderson, IN	2.0	2.0	944	$1,115	$1.18	15d	1	1.15mi
1904 S Cross Lakes Cir Unit 1904KS Anderson, IN	2.0	2.0	912	$1,183	$1.30	44d	1	1.19mi
1904 S Cross Lakes Cir Unit 1904LS Anderson, IN	2.0	2.0	912	$1,309	$1.44	44d	1	1.19mi
1724 Greenwood Dr Anderson, IN	3.0	1.5	950	$1,025	$1.08	44d	1	1.36mi
506 W 2nd St Anderson, IN	3.0	1.0	964	$1,095	$1.14	24d	1	1.46mi

Listing history 25 events

1. 2026-06-18
   days on market $79,900 Active 82 DOM
2. 2026-06-17
   days on market $79,900 Active 81 DOM
3. 2026-06-16
   days on market $79,900 Active 80 DOM
4. 2026-06-15
   days on market $79,900 Active 79 DOM
5. 2026-06-13
   days on market $79,900 Active 77 DOM
6. 2026-06-09
   days on market $79,900 Active 73 DOM
7. 2026-06-08
   days on market $79,900 Active 72 DOM
8. 2026-06-07
   days on market $79,900 Active 71 DOM
9. 2026-06-05
   days on market $79,900 Active 68 DOM
10. 2026-06-03
    days on market $79,900 Active 67 DOM
11. 2026-06-02
    days on market $79,900 Active 66 DOM
12. 2026-06-01
    days on market $79,900 Active 65 DOM
13. 2026-05-31
    days on market $79,900 Active 64 DOM
14. 2026-03-27
    listed $79,900 Active 244-char remark

    Show marketing remark (240 chars)

    Now vacant, was rented for $850 per month. 2 bedroom, 1 bath home featuring a fenced-in backyard, back patio, and covered front porch-great for outdoor enjoyment. Washer and dryer hookups are located in the basement for added convenience. P

15. 2026-03-27
    listed $79,900 Active 240-char remark

    Show marketing remark (240 chars)

    Now vacant, was rented for $850 per month. 2 bedroom, 1 bath home featuring a fenced-in backyard, back patio, and covered front porch-great for outdoor enjoyment. Washer and dryer hookups are located in the basement for added convenience. P

16. 2019-12-17
    soldstatus $25,000 Sold
17. 2019-12-10
    listed $25,000 Active
18. 2019-12-10
    status Pending
19. 2017-04-03
    soldstatus $29,500 Sold
20. 2017-03-30
    status Pending
21. 2017-02-23
    listed $28,000 Active
22. 2009-03-04
    historical
23. 2008-09-03
    listed $59,900
24. 2005-05-06
    soldstatus $31,000
25. 2005-03-17
    listed $32,500

ⓘ 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: $1,669 · $139/mo
• Projected year-2 tax: $1,669 · $139/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: $15,136
• − Mortgage interest: −$4,476
• − Property taxes: −$1,669
• − Insurance: −$400
• − Repairs & maintenance: −$1,211
• − Management: −$1,211
• − Depreciation: −$2,324
• Taxable income: $3,846
• Est. tax owed @ 24.0%: −$923
• After-tax cash flow: $3,938/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

+145.8% since first listed

12 events — show timeline

• 2026-03-27 Listed $79,900 MIBOR as Distributed by MLS Grid
• 2026-03-27 Listed $79,900 IRMLS
• 2019-12-17 Sold (MLS) $25,000 MIBOR as Distributed by MLS Grid
• 2019-12-10 Listed $25,000 MIBOR as Distributed by MLS Grid
• 2019-12-10 Pending — MIBOR as Distributed by MLS Grid
• 2017-04-03 Sold (MLS) $29,500 MIBOR as Distributed by MLS Grid
• 2017-03-30 Pending — MIBOR as Distributed by MLS Grid
• 2017-02-23 Listed $28,000 MIBOR as Distributed by MLS Grid
• 2009-03-04 Listing Removed — MIBOR as Distributed by MLS Grid
• 2008-09-03 Listed $59,900 MIBOR as Distributed by MLS Grid
• 2005-05-06 Sold (MLS) $31,000 MIBOR as Distributed by MLS Grid
• 2005-03-17 Listed $32,500 MIBOR as Distributed by MLS Grid

Property tax history

+4.3%/yr

Latest (2024): $1,669 · +8.8% YoY. Source: county tax records.