217 Ringwood Way · Anderson, IN 46013

$85,000

2 bd · 1.0 ba · 1,144 sqft · SingleFamily public records · 43 Days on market

Built 1928 10,584 sqft lot Est $130k · 35% under

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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 +25.3/30.0
• ARV discount +15.0/15.0
• DSCR +8.3/10.0
• 1% rule +7.1/10.0
• 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

This cute bungalow sits on a large lot with an attached garage and a carport. Enjoy the serene neighborhood views from your covered front porch or the private wooded views from the rear patio. With close proximity to Anderson Speedway, golf courses, and multiple parks, this is an ideal location for just about anyone.

Key facts

• Covered front porch
• Ideal location
• Large lot

Tags

• LARGE LOT
• COVERED FRONT PORCH
• PRIVATE WOODED VIEWS
• IDEAL LOCATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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: crime D-, amenities F, commute 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.
• Zoned schools: Anderson High School (math 21% / reading 51%, grade F, #261 of 369 statewide, top 71%, 1,790 students, 76% FRL).
• Zoned-school proficiency averages 36% at this address vs 19% district-wide (+17 pts) — the actual schools serving this property are materially stronger than the Anderson Community School Corporation average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: 151 active listings in the ZIP; 35 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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 $588 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.

Negotiation context

• It's been on market 43 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 17y 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 $38k; list at $85k implies a 127% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $82,450 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1928 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.21% ✓
• Cap rate: 9.02%
• Cash-on-cash: 9.73%
• DSCR: 1.43
• GRM: 6.9

CMA / ARV

• ARV (on-the-fly): $130,416
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3907 Haverhill Dr	0.25mi	2/1.0	1,143 (-0%)	5mo	$90,000	$79	84
508 Andover Rd	0.40mi	2/1.0	1,173 (+2%)	7mo	$40,000	$34	71
4221 Brown St	0.48mi	3/1.5 (+1)	1,131 (-1%)	2mo	$128,500	$114	67
513 Andover Rd	0.42mi	3/1.0 (+1)	1,121 (-2%)	11mo	$143,000	$128	63
719 W 34th St	0.49mi	2/1.0	1,235 (+8%)	2mo	$80,000	$65	62
423 E 37th St	0.46mi	2/1.0	1,020 (-11%)	3mo	$132,000	$129	58
318 Elva St	0.38mi	3/1.5 (+1)	1,224 (+7%)	9mo	$110,000	$90	56
14 Crescent Ct	0.53mi	3/1.0 (+1)	1,056 (-8%)	2mo	$150,000	$142	56
3635 Elmway Dr	0.40mi	3/1.0 (+1)	1,260 (+10%)	10mo	$177,000	$140	51
2915 Central Ave	0.61mi	2/1.0	1,309 (+14%)	2mo	$59,000	$45	46
4221 Haverhill Dr	0.50mi	3/1.0 (+1)	1,304 (+14%)	11mo	$151,500	$116	39
815 Delmar Rd	0.72mi	3/1.5 (+1)	1,008 (-12%)	1mo	$95,000	$94	39

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: -1.6%
• Equity multiple: 0.94×
• Total profit: $-1,447
• Equity at exit: $12,674

10-year hold

• IRR: 8.1%
• Equity multiple: 1.62×
• Total profit: $14,711
• Equity at exit: $7,349

Cash invested: $23,800 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,029 high
• Mortgage (P&I): −$446
• Tax from tax record: −$139 /mo · $1,664/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$216
• Net cashflow: $193

Break-even live

Break-even rent $785

Max offer price $85,000

Occupancy floor 76%

Sensitivity live

Price	-10% $241	-5% $217	+0% $193	+5% $169	+10% $145
Rent	-10% $112	-5% $152	+0% $193	+5% $234	+10% $274
Rate	-1.0pp $236	-0.5pp $215	base $193	+0.5pp $171	+1.0pp $149

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4015 Haverhill Dr Anderson, IN	3.0	2.0	884	$1,100	$1.24	44d	1	0.37mi
4021 Brown St Anderson, IN	2.0	1.0	1320	$975	$0.74	8d	1	0.37mi
3021 Delaware St Anderson, IN	2.0	1.0	1154	$1,150	$1.00	8d	1	0.48mi
2904 Lincoln St Anderson, IN	2.0	1.0	864	$900	$1.04	44d	1	0.58mi
3000 Fletcher St Unit 3000 Anderson, IN	2.0	1.0	800	$650	$0.81	44d	1	0.61mi
2820 Fairview St Unit A Anderson, IN	2.0	1.0	850	$895	$1.05	44d	1	0.66mi
228 E 29th St Anderson, IN	3.0	2.0	1440	$1,295	$0.90	5d	1	0.67mi
2627 Chase St Anderson, IN	3.0	1.0	1050	$850	$0.81	18d	1	0.72mi
2625 Main St Anderson, IN	2.0	1.0	988	$895	$0.91	24d	1	0.75mi
3006 Noble St Anderson, IN	2.0	1.0	1064	$995	$0.94	8d	1	0.75mi
4426 Mellen Ct Anderson, IN	2.0	1.0	899	$900	$1.00	2d	1	0.83mi
4325 S Madison Ave Anderson, IN	1.0–3.0	1.0–1.5	995	$1,112	$1.12	2d	6	0.85mi
2442 Morton St Anderson, IN	2.0	1.0	862	$1,125	$1.31	24d	1	0.87mi
812 Mellen Dr Unit 814 Anderson, IN	2.0	1.0	924	$950	$1.03	2d	1	0.90mi
2324 Chase St Anderson, IN	2.0	1.0	783	$950	$1.21	44d	1	0.96mi
3009 E Lynn St Unit 1 Anderson, IN	3.0	1.0	1000	$875	$0.88	21d	1	0.97mi
4415 Columbus Ave Apt 15 Anderson, IN	2.0	1.0	800	$800	$1.00	2d	1	0.97mi
2411 Hendricks St Anderson, IN	3.0	1.0	860	$1,000	$1.16	24d	1	1.01mi
2233 Fairview St Anderson, IN	3.0	1.5	1452	$1,195	$0.82	24d	1	1.05mi
2301 Sheridan St Anderson, IN	2.0	1.0	900	$950	$1.06	44d	1	1.05mi
618 W 22nd St Anderson, IN	3.0	1.0	900	$1,250	$1.39	44d	1	1.12mi
2111 Central Ave Anderson, IN	3.0	1.0	1026	$1,250	$1.22	44d	1	1.14mi
1232 E 28th St Anderson, IN	2.0	2.0	795	$950	$1.19	44d	1	1.17mi
1501 E 31st St Anderson, IN	2.0	1.0	840	$1,199	$1.43	21d	1	1.20mi
1318 E 28th St Anderson, IN	3.0	1.0	1280	$1,300	$1.02	13d	1	1.22mi
229 W 19th St Anderson, IN	3.0	1.0	1200	$1,000	$0.83	44d	1	1.26mi
2233 E Lynn St Anderson, IN	1.0	1.0	700	$695	$0.99	2d	1	1.33mi
1626 Lora St Anderson, IN	3.0	2.0	1352	$1,295	$0.96	44d	1	1.35mi
2002 Jefferson St Unit 3 Anderson, IN	1.0	2.0	725	$600	$0.83	44d	1	1.36mi
2613 Louise St Anderson, IN	2.0	1.0	1096	$950	$0.87	22d	1	1.37mi
2023 McKinley St Anderson, IN	2.0	1.0	1500	$950	$0.63	44d	1	1.37mi
417 E 55th St Anderson, IN	2.0	1.0	724	$1,100	$1.52	22d	1	1.43mi
1726-1728 Walnut St Anderson, IN	2.0	2.0	900	$995	$1.11	3d	1	1.44mi
2719 Dewey St Anderson, IN	2.0	1.0	877	$1,150	$1.31	44d	1	1.44mi
2203 W 28th St Anderson, IN	3.0	1.0	1068	$1,000	$0.94	44d	1	1.49mi

Listing history 20 events

1. 2026-06-05
   days on marketlisting id $85,000 Pending 43 DOM
2. 2026-04-03
   status Pending 318-char remark

   Show marketing remark (318 chars)

   This cute bungalow sits on a large lot with an attached garage and a carport. Enjoy the serene neighborhood views from your covered front porch or the private wooded views from the rear patio. With close proximity to Anderson Speedway, golf courses, and multiple parks, this is an ideal location for just about anyone.

3. 2026-03-24
   status Pending
4. 2026-02-19
   listed $85,000 Active 318-char remark

   Show marketing remark (318 chars)

   This cute bungalow sits on a large lot with an attached garage and a carport. Enjoy the serene neighborhood views from your covered front porch or the private wooded views from the rear patio. With close proximity to Anderson Speedway, golf courses, and multiple parks, this is an ideal location for just about anyone.

5. 2026-02-19
   listed $85,000 Active

   Show marketing remark (318 chars)

   This cute bungalow sits on a large lot with an attached garage and a carport. Enjoy the serene neighborhood views from your covered front porch or the private wooded views from the rear patio. With close proximity to Anderson Speedway, golf courses, and multiple parks, this is an ideal location for just about anyone.

6. 2025-08-23
   historical
7. 2025-03-12
   status Active
8. 2025-03-12
   price $156,900
9. 2024-09-17
   price $139,900
10. 2024-08-30
    listed $149,900 Active
11. 2018-01-04
    historical
12. 2017-11-16
    status Active
13. 2017-11-15
    historical
14. 2017-09-19
    price $50,500
15. 2017-05-16
    listed $58,500 Active
16. 2016-05-26
    soldstatus $37,500 Sold
17. 2016-05-11
    status Pending
18. 2016-03-10
    listed $39,900 Active
19. 2010-02-26
    historical
20. 2009-07-01
    listed $52,500

ⓘ 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: $1,664 · $139/mo
• Projected year-2 tax: $1,664 · $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 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: $12,347
• − Mortgage interest: −$4,761
• − Property taxes: −$1,664
• − Insurance: −$425
• − Repairs & maintenance: −$988
• − Management: −$988
• − Depreciation: −$2,473
• Taxable income: $1,048
• Est. tax owed @ 24.0%: −$252
• After-tax cash flow: $2,064/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

+61.9% since first listed

19 events — show timeline

• 2026-04-03 Pending — IRMLS
• 2026-03-24 Pending — MIBOR as Distributed by MLS Grid
• 2026-02-19 Listed $85,000 MIBOR as Distributed by MLS Grid
• 2026-02-19 Listed $85,000 IRMLS
• 2025-08-23 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-03-12 Relisted — MIBOR as Distributed by MLS Grid
• 2025-03-12 Price Changed $156,900 MIBOR as Distributed by MLS Grid
• 2024-09-17 Price Changed $139,900 MIBOR as Distributed by MLS Grid
• 2024-08-30 Listed $149,900 MIBOR as Distributed by MLS Grid
• 2018-01-04 Listing Removed — MIBOR as Distributed by MLS Grid
• 2017-11-16 Relisted — MIBOR as Distributed by MLS Grid
• 2017-11-15 Listing Removed — MIBOR as Distributed by MLS Grid
• 2017-09-19 Price Changed $50,500 MIBOR as Distributed by MLS Grid
• 2017-05-16 Listed $58,500 MIBOR as Distributed by MLS Grid
• 2016-05-26 Sold (MLS) $37,500 MIBOR as Distributed by MLS Grid
• 2016-05-11 Pending — MIBOR as Distributed by MLS Grid
• 2016-03-10 Listed $39,900 MIBOR as Distributed by MLS Grid
• 2010-02-26 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-07-01 Listed $52,500 MIBOR as Distributed by MLS Grid

Property tax history

+2.6%/yr

Latest (2024): $1,664 · +8.8% YoY. Source: county tax records.