2322 Aspen Ct · Anderson, IN 46011

$155,000

3 bd · 1.5 ba · 1,772 sqft · SingleFamily public records · 12 Days on market

Built 1962 7,584 sqft lot Est $227k · 32% under

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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 +15.2/30.0
• ARV discount +15.0/15.0
• DSCR +4.7/10.0
• 1% rule +4.6/10.0
• 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

Great bi-level home on corner lot! 4 Bedrooms with many updates including new paint and flooring.

Key facts

• 7,584 sq ft lot
• Garage
• Built 1962

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $155k.

Deal economics

• At list price, monthly cash flow is $55 ($663/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 $150k (3.5% below list).
• Recommended offer: $150k (3.5% 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: 107 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 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 $1k of loan paydown is wiped out by about $5k 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 12 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 9y 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 $132k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $149,500 (3.5% below list)

Questions for the listing agent

1. Built in 1962 — 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: 0.96% ✗
• Cap rate: 6.72%
• Cash-on-cash: 1.53%
• DSCR: 1.07
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $226,816
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2412 Bramble Way	0.06mi	3/1.0	1,581 (-11%)	2mo	$100,000	$63	75
1815 Hillcrest Ave	0.48mi	3/2.5	1,730 (-2%)	4mo	$248,000	$143	66
1645 Woodview Ln	0.50mi	3/2.0	1,751 (-1%)	13mo	$224,000	$128	62
2440 Sagamore Dr	0.55mi	3/2.0	1,703 (-4%)	7mo	$290,000	$170	60
917 Summerlin Ct	0.51mi	3/2.0	1,877 (+6%)	8mo	$314,500	$168	57
1306 Woodbine Dr	0.14mi	4/1.0 (+1)	1,517 (-14%)	11mo	$175,000	$115	53
1405 Woodbine Dr	0.10mi	4/2.0 (+1)	1,998 (+13%)	17mo	$194,900	$98	53
1808 Oakwood Dr	0.42mi	3/2.0	1,698 (-4%)	22mo	$235,000	$138	53
1813 Kingsley Dr	0.53mi	3/2.0	1,891 (+7%)	12mo	$245,000	$130	52
Lot 34 Doe Meadow Dr	0.45mi	3/2.0	2,018 (+14%)	4mo	$45,900	$23	50
1704 Greenwood Dr	0.33mi	4/2.5 (+1)	1,612 (-9%)	20mo	$173,900	$108	44
1701 Kingsley Dr	0.58mi	4/2.5 (+1)	1,950 (+10%)	21mo	$220,000	$113	30

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: -13.8%
• Equity multiple: 0.50×
• Total profit: $-21,539
• Equity at exit: $23,111

10-year hold

• IRR: -4.9%
• Equity multiple: 0.68×
• Total profit: $-13,994
• Equity at exit: $13,402

Cash invested: $43,400 (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 46011

• Home prices YoY: -25.0%
• Active inventory: 107
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,495 medium
• Mortgage (P&I): −$813
• Tax from tax record: −$248 /mo · $2,980/yr
• Insurance: −$65
• HOA: −$0
• Vacancy / Maint / Mgmt: −$314
• Net cashflow: $55

Break-even live

Break-even rent $1,425

Max offer price $155,000

Occupancy floor 91%

Sensitivity live

Price	-10% $143	-5% $99	+0% $55	+5% $11	+10% $-32
Rent	-10% $-63	-5% $-4	+0% $55	+5% $114	+10% $173
Rate	-1.0pp $133	-0.5pp $95	base $55	+0.5pp $15	+1.0pp $-26

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: $38,750
• Closing costs: $4,650
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
521 W Vinyard St Anderson, IN	3.0	2.0	1712	$1,495	$0.87	17d	1	1.22mi

Listing history 19 events

1. 2026-06-21
   days on market $155,000 Active 12 DOM
2. 2026-06-18
   days on market $155,000 Active 9 DOM
3. 2026-06-17
   days on market $155,000 Active 8 DOM
4. 2026-06-16
   days on market $155,000 Active 7 DOM
5. 2026-06-15
   statusdays on market $155,000 Active 6 DOM
6. 2026-04-16
   status Pending
7. 2026-04-08
   listed $155,000 Active
8. 2024-10-16
   historical $1,350
9. 2024-09-28
   listed $1,350
10. 2023-03-23
    soldstatus $132,000 Closed 98-char remark

    Show marketing remark (98 chars)

    Great bi-level home on corner lot! 4 Bedrooms with many updates including new paint and flooring.

11. 2023-01-26
    status Pending 98-char remark

    Show marketing remark (98 chars)

    Great bi-level home on corner lot! 4 Bedrooms with many updates including new paint and flooring.

12. 2023-01-25
    listed $140,000 Active 98-char remark

    Show marketing remark (98 chars)

    Great bi-level home on corner lot! 4 Bedrooms with many updates including new paint and flooring.

13. 2021-08-25
    soldstatus $110,000 Closed 719-char remark

    Show marketing remark (719 chars)

    This home is a Wonderful Opportunity! New Roof installed in 2020. This home is a 4 Bedroom / 1.5 Bath home. The first story has a LARGE room that can be a bedroom with a half bath or would be a Wonderful family room. The second floor has 3 bedrooms and a full bath. Kitchen, Dining Room and Living room are an open concept space. New Wood floors have been installed. Kitchen cabinets have been updated. The appliances are newer also. Washer and Dryer included. Second Floor bathroom has been totally updated. New stairway banisters have been installed. There is an antique coal stove on the first floor, but has never been used by current owners. Has a privacy fence surrounding back yard and a one card garage.

14. 2021-06-25
    status Pending 719-char remark

    Show marketing remark (719 chars)

    This home is a Wonderful Opportunity! New Roof installed in 2020. This home is a 4 Bedroom / 1.5 Bath home. The first story has a LARGE room that can be a bedroom with a half bath or would be a Wonderful family room. The second floor has 3 bedrooms and a full bath. Kitchen, Dining Room and Living room are an open concept space. New Wood floors have been installed. Kitchen cabinets have been updated. The appliances are newer also. Washer and Dryer included. Second Floor bathroom has been totally updated. New stairway banisters have been installed. There is an antique coal stove on the first floor, but has never been used by current owners. Has a privacy fence surrounding back yard and a one card garage.

15. 2021-06-23
    listed $135,000 Active 719-char remark

    Show marketing remark (719 chars)

    This home is a Wonderful Opportunity! New Roof installed in 2020. This home is a 4 Bedroom / 1.5 Bath home. The first story has a LARGE room that can be a bedroom with a half bath or would be a Wonderful family room. The second floor has 3 bedrooms and a full bath. Kitchen, Dining Room and Living room are an open concept space. New Wood floors have been installed. Kitchen cabinets have been updated. The appliances are newer also. Washer and Dryer included. Second Floor bathroom has been totally updated. New stairway banisters have been installed. There is an antique coal stove on the first floor, but has never been used by current owners. Has a privacy fence surrounding back yard and a one card garage.

16. 2018-01-12
    soldstatus $70,000 Sold
17. 2017-11-16
    status Pending
18. 2017-11-08
    price $75,900
19. 2017-10-11
    listed $79,900 Active

ⓘ 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: $2,980 · $248/mo
• Projected year-2 tax: $2,980 · $248/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: $17,940
• − Mortgage interest: −$8,682
• − Property taxes: −$2,980
• − Insurance: −$775
• − Repairs & maintenance: −$1,435
• − Management: −$1,435
• − Depreciation: −$4,509
• Taxable loss: −$1,877
• Est. tax savings @ 24.0%: +$450
• After-tax cash flow: $1,114/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
• City population: 57,762
• Population (ZIP): 17,115

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 (79%)
• Race & ethnicity: White 79% Black 8% Hispanic / Latino 6% Two or more races 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 2% Iranian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% 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: ▼ -90.13%
• Current HPI: 270.0253
• Rent YoY: —
• Metro: —
• 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

+94.0% since first listed

14 events — show timeline

• 2026-04-16 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-08 Listed $155,000 MIBOR as Distributed by MLS Grid
• 2024-10-16 Rental Removed $1,350 MIBOR
• 2024-09-28 Listed for Rent $1,350 MIBOR
• 2023-03-23 Sold (MLS) $132,000 MIBOR as Distributed by MLS Grid
• 2023-01-26 Pending — MIBOR as Distributed by MLS Grid
• 2023-01-25 Listed $140,000 MIBOR as Distributed by MLS Grid
• 2021-08-25 Sold (MLS) $110,000 MIBOR as Distributed by MLS Grid
• 2021-06-25 Pending — MIBOR as Distributed by MLS Grid
• 2021-06-23 Listed $135,000 MIBOR as Distributed by MLS Grid
• 2018-01-12 Sold (MLS) $70,000 MIBOR as Distributed by MLS Grid
• 2017-11-16 Pending — MIBOR as Distributed by MLS Grid
• 2017-11-08 Price Changed $75,900 MIBOR as Distributed by MLS Grid
• 2017-10-11 Listed $79,900 MIBOR as Distributed by MLS Grid

Property tax history

+38.9%/yr

Latest (2024): $2,980 · +196.8% YoY. Source: county tax records.