3534 Andover Rd · Anderson, IN 46013

$129,900

3 bd · 1.0 ba · 1,116 sqft · SingleFamily public records · 5 Days on market

Built 1927 5,950 sqft lot Est $127k · at est. ↓ 13% since listing

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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 +16.6/30.0
• ARV discount +6.6/15.0
• DSCR +5.2/10.0
• 1% rule +3.5/10.0
• 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

Three bedroom, one bath, one story home with a one car detached garage. Unfinished basement, vinyl windows, and concrete driveway. Updated kitchen and bath.

Key facts

• 5,950 sq ft lot
• Garage
• Built 1927

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $78 ($942/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 $111k (14.8% below list).
• Recommended offer: $111k (14.8% 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: 151 active listings in the ZIP; 34 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 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 $898 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

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,618 (14.8% below list)

Questions for the listing agent

1. Built in 1927 — 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: 0.85% ✗
• Cap rate: 7.02%
• Cash-on-cash: 2.59%
• DSCR: 1.12
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $127,224
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3907 Haverhill Dr	0.26mi	2/1.0 (-1)	1,143 (+2%)	5mo	$90,000	$79	75
4221 Brown St	0.50mi	3/1.5	1,131 (+1%)	2mo	$128,500	$114	71
513 Andover Rd	0.48mi	3/1.0	1,121 (+0%)	11mo	$143,000	$128	68
14 Crescent Ct	0.58mi	3/1.0	1,056 (-5%)	2mo	$150,000	$142	62
423 E 37th St	0.40mi	2/1.0 (-1)	1,020 (-9%)	3mo	$132,000	$129	60
318 Elva St	0.31mi	3/1.5	1,224 (+10%)	9mo	$110,000	$90	60
508 Andover Rd	0.46mi	2/1.0 (-1)	1,173 (+5%)	7mo	$40,000	$34	59
10 W 41st St	0.35mi	3/2.0	960 (-14%)	5mo	$141,000	$147	52
719 W 34th St	0.55mi	2/1.0 (-1)	1,235 (+11%)	2mo	$80,000	$65	49
3635 Elmway Dr	0.46mi	3/1.0	1,260 (+13%)	10mo	$177,000	$140	49
815 Delmar Rd	0.75mi	3/1.5	1,008 (-10%)	1mo	$95,000	$94	46
2639 Central Ave	0.74mi	2/1.0 (-1)	952 (-15%)	8mo	$57,000	$60	29

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: -12.2%
• Equity multiple: 0.56×
• Total profit: $-16,098
• Equity at exit: $19,369

10-year hold

• IRR: -3.2%
• Equity multiple: 0.79×
• Total profit: $-7,770
• Equity at exit: $11,231

Cash invested: $36,372 (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 46013

• Home prices YoY: -26.9%
• Active inventory: 151
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,106 high
• Mortgage (P&I): −$681
• Tax from tax record: −$60 /mo · $721/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $78

Break-even live

Break-even rent $1,007

Max offer price $129,900

Occupancy floor 88%

Sensitivity live

Price	-10% $152	-5% $115	+0% $78	+5% $42	+10% $5
Rent	-10% $-9	-5% $35	+0% $78	+5% $122	+10% $166
Rate	-1.0pp $144	-0.5pp $112	base $78	+0.5pp $45	+1.0pp $11

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: $32,475
• Closing costs: $3,897
• Reserves months: —
• Total cash needed: —

Rent comps 34 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4015 Haverhill Dr Anderson, IN	3.0	2.0	884	$1,100	$1.24	45d	1	0.38mi
4021 Brown St Anderson, IN	2.0	1.0	1320	$975	$0.74	8d	1	0.40mi
3021 Delaware St Anderson, IN	2.0	1.0	1154	$1,150	$1.00	8d	1	0.48mi
3000 Fletcher St Unit 3000 Anderson, IN	2.0	1.0	800	$650	$0.81	45d	1	0.59mi
2904 Lincoln St Anderson, IN	2.0	1.0	864	$875	$1.01	0d	1	0.60mi
228 E 29th St Anderson, IN	3.0	2.0	1440	$1,295	$0.90	5d	1	0.64mi
2820 Fairview St Unit A Anderson, IN	2.0	1.0	850	$895	$1.05	45d	1	0.69mi
3006 Noble St Anderson, IN	2.0	1.0	1064	$995	$0.94	8d	1	0.71mi
2627 Chase St Anderson, IN	3.0	1.0	1050	$850	$0.81	19d	1	0.73mi
2625 Main St Anderson, IN	2.0	1.0	988	$895	$0.91	25d	1	0.74mi
4426 Mellen Ct Anderson, IN	2.0	1.0	899	$900	$1.00	3d	1	0.79mi
812 Mellen Dr Unit 814 Anderson, IN	2.0	1.0	924	$950	$1.03	0d	1	0.86mi
2446 Morton St Anderson, IN	2.0	1.0	1093	$1,250	$1.14	0d	1	0.88mi
2442 Morton St Anderson, IN	2.0	1.0	862	$1,125	$1.31	25d	1	0.89mi
4325 S Madison Ave Anderson, IN	1.0–3.0	1.0–1.5	995	$1,330	$1.34	0d	5	0.89mi
3009 E Lynn St Unit 1 Anderson, IN	3.0	1.0	1000	$875	$0.88	21d	1	0.92mi
4415 Columbus Ave Apt 15 Anderson, IN	2.0	1.0	800	$800	$1.00	0d	1	0.93mi
2324 Chase St Anderson, IN	2.0	1.0	783	$895	$1.14	0d	1	0.96mi
2411 Hendricks St Anderson, IN	3.0	1.0	860	$1,000	$1.16	25d	1	1.04mi
2233 Fairview St Anderson, IN	3.0	1.5	1452	$1,195	$0.82	25d	1	1.06mi
2301 Sheridan St Anderson, IN	2.0	1.0	900	$950	$1.06	45d	1	1.07mi
1232 E 28th St Anderson, IN	2.0	2.0	795	$950	$1.19	45d	1	1.13mi
2111 Central Ave Anderson, IN	3.0	1.0	1026	$1,250	$1.22	45d	1	1.13mi
618 W 22nd St Anderson, IN	3.0	1.0	900	$1,250	$1.39	45d	1	1.14mi
1501 E 31st St Anderson, IN	2.0	1.0	840	$1,199	$1.43	21d	1	1.15mi
1318 E 28th St Anderson, IN	3.0	1.0	1280	$1,300	$1.02	13d	1	1.18mi
229 W 19th St Anderson, IN	3.0	1.0	1200	$1,000	$0.83	45d	1	1.27mi
1626 Lora St Anderson, IN	3.0	2.0	1352	$1,295	$0.96	45d	1	1.31mi
2023 McKinley St Anderson, IN	2.0	1.0	1500	$950	$0.63	45d	1	1.34mi
417 E 55th St Anderson, IN	2.0	1.0	724	$1,100	$1.52	23d	1	1.41mi
2613 Louise St Anderson, IN	2.0	1.0	1096	$950	$0.87	23d	1	1.41mi
2613 Louise St Anderson, IN	2.0	1.0	1096	$925	$0.84	0d	1	1.41mi
1726-1728 Walnut St Anderson, IN	2.0	2.0	900	$995	$1.11	3d	1	1.42mi
2719 Dewey St Anderson, IN	2.0	1.0	877	$1,150	$1.31	45d	1	1.49mi

Listing history 12 events

1. 2026-05-07
   status Pending 156-char remark

   Show marketing remark (156 chars)

   Three bedroom, one bath, one story home with a one car detached garage. Unfinished basement, vinyl windows, and concrete driveway. Updated kitchen and bath.

2. 2026-05-07
   historical 156-char remark

   Show marketing remark (156 chars)

   Three bedroom, one bath, one story home with a one car detached garage. Unfinished basement, vinyl windows, and concrete driveway. Updated kitchen and bath.

3. 2026-04-21
   status Pending 156-char remark

   Show marketing remark (156 chars)

   Three bedroom, one bath, one story home with a one car detached garage. Unfinished basement, vinyl windows, and concrete driveway. Updated kitchen and bath.

4. 2026-04-21
   status Pending

   Show marketing remark (156 chars)

   Three bedroom, one bath, one story home with a one car detached garage. Unfinished basement, vinyl windows, and concrete driveway. Updated kitchen and bath.

5. 2026-04-17
   status Active
6. 2026-04-16
   status Active 156-char remark

   Show marketing remark (156 chars)

   Three bedroom, one bath, one story home with a one car detached garage. Unfinished basement, vinyl windows, and concrete driveway. Updated kitchen and bath.

7. 2026-04-01
   historical 156-char remark

   Show marketing remark (156 chars)

   Three bedroom, one bath, one story home with a one car detached garage. Unfinished basement, vinyl windows, and concrete driveway. Updated kitchen and bath.

8. 2026-03-31
   listed $129,900 Active 156-char remark

   Show marketing remark (156 chars)

   Three bedroom, one bath, one story home with a one car detached garage. Unfinished basement, vinyl windows, and concrete driveway. Updated kitchen and bath.

9. 2026-03-31
   listed $129,900 Active

   Show marketing remark (156 chars)

   Three bedroom, one bath, one story home with a one car detached garage. Unfinished basement, vinyl windows, and concrete driveway. Updated kitchen and bath.

10. 2023-09-01
    soldstatus $145,000 Closed 483-char remark

    Show marketing remark (483 chars)

    Move in Ready! Location & lots of updates! No HOA! 3 Bed 1 Bath large living, eat in kitchen / dining could also double as a home office or mud room area based on your preference. Tons of natural light! The full basement offers a variety of possibilities and extra room to grow! Covered front porch. Partially fenced in back yard is perfect for relaxing and pets. Plenty of parking for friends & family with the oversize private concrete driveway & 1 Car Detached Garage.

11. 2023-07-21
    status Pending 483-char remark

    Show marketing remark (483 chars)

    Move in Ready! Location & lots of updates! No HOA! 3 Bed 1 Bath large living, eat in kitchen / dining could also double as a home office or mud room area based on your preference. Tons of natural light! The full basement offers a variety of possibilities and extra room to grow! Covered front porch. Partially fenced in back yard is perfect for relaxing and pets. Plenty of parking for friends & family with the oversize private concrete driveway & 1 Car Detached Garage.

12. 2023-07-19
    listed $149,900 Active 483-char remark

    Show marketing remark (483 chars)

    Move in Ready! Location & lots of updates! No HOA! 3 Bed 1 Bath large living, eat in kitchen / dining could also double as a home office or mud room area based on your preference. Tons of natural light! The full basement offers a variety of possibilities and extra room to grow! Covered front porch. Partially fenced in back yard is perfect for relaxing and pets. Plenty of parking for friends & family with the oversize private concrete driveway & 1 Car Detached Garage.

ⓘ 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: $721 · $60/mo
• Projected year-2 tax: $913 · $76/mo
• Expected delta: +$192/yr (+$16/mo · 26.6%)

ⓘ 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: $13,274
• − Mortgage interest: −$7,276
• − Property taxes: −$721
• − Insurance: −$650
• − Repairs & maintenance: −$1,062
• − Management: −$1,062
• − Depreciation: −$3,779
• Taxable loss: −$1,275
• Est. tax savings @ 24.0%: +$306
• After-tax cash flow: $1,248/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

-13.3% since first listed

12 events — show timeline

• 2026-05-07 Pending — IRMLS
• 2026-05-07 Delisted — IRMLS
• 2026-04-21 Pending — IRMLS
• 2026-04-21 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-17 Relisted — MIBOR as Distributed by MLS Grid
• 2026-04-16 Relisted — IRMLS
• 2026-04-01 Delisted — IRMLS
• 2026-03-31 Listed $129,900 MIBOR as Distributed by MLS Grid
• 2026-03-31 Listed $129,900 IRMLS
• 2023-09-01 Sold (MLS) $145,000 MIBOR as Distributed by MLS Grid
• 2023-07-21 Pending — MIBOR as Distributed by MLS Grid
• 2023-07-19 Listed $149,900 MIBOR as Distributed by MLS Grid

Property tax history

+5.4%/yr

Latest (2024): $721 · +9.5% YoY. Source: county tax records.