1920 Van Buskirk Rd · Anderson, IN 46011

$117,900

3 bd · 1.0 ba · 1,408 sqft · SingleFamily public records · 53 Days on market

Built 1900 3.13 ac lot $84/sqft · 33% below area Est $175k · 33% under ↓ 11% since listing

---

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 +16.2/30.0
• ARV discount +15.0/15.0
• DSCR +5.0/10.0
• 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 opportunity to take over a complete renovation on this farm house! Most of the demo has been done. Subfloor that's down is not nailed down and moveable/floating to make access to the crawlspace easy for running wire/cables/plumbing. EXERCISE EXTREME CAUTION WHEN SHOWING - some areas do not have subfloor. Home does have gas/electric and municipal water and sewer run to the home. There is still a working well on the property, also. This 3 acre, NO HOA plot of land is waiting for you to shape the house into a home! Come and see if this is the perfect project home for you!

Key facts

• Working well
• Complete renovation
• 3 acre plot

Tags

• COMPLETE RENOVATION
• MOVEABLE SUBFLOOR
• WORKING WELL
• 3 ACRE PLOT
• NO HOA

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $62 ($739/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 $113k (4.3% below list).
• Recommended offer: $113k (4.3% 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: 105 active listings in the ZIP; 20 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 $815 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 53 days — a 3% lower offer ($114k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $112,859 (4.3% below list)

Questions for the listing agent

1. It's been on market 53 days. Have you received any prior offers? Is the seller open to a 4% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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: 0.96% ✗
• Cap rate: 6.92%
• Cash-on-cash: 2.24%
• DSCR: 1.10
• GRM: 8.7

CMA / ARV

• ARV (median comp): $174,876
• List price: $117,900
• Delta: -32.58%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1224 Greendale Rd	0.47mi	3/2.0	1,395 (-1%)	6mo	$205,000	$147	67
2420 Sheffield Ave	0.31mi	2/1.0 (-1)	1,344 (-4%)	15mo	$109,900	$82	60
1425 W 3rd St	0.65mi	2/1.0 (-1)	1,375 (-2%)	5mo	$114,000	$83	57
2330 Oakwood Dr	0.46mi	3/2.0	1,414 (+0%)	23mo	$236,900	$168	55
1517 Hillcrest Ave	0.52mi	4/2.0 (+1)	1,385 (-2%)	12mo	$150,900	$109	54
2326 Shady Ln	0.50mi	3/2.0	1,377 (-2%)	23mo	$234,900	$171	50
1306 Woodbine Dr	0.58mi	4/1.0 (+1)	1,517 (+8%)	11mo	$175,000	$115	46
1607 Raintree Dr	0.71mi	3/1.0	1,425 (+1%)	23mo	$149,000	$105	46
2412 Bramble Way	0.72mi	3/1.0	1,581 (+12%)	2mo	$100,000	$63	44
1507 W 5th St	0.75mi	2/1.0 (-1)	1,344 (-4%)	20mo	$60,000	$45	36
1311 Woodbine Dr	0.61mi	4/1.0 (+1)	1,225 (-13%)	15mo	$155,000	$127	32

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: -12.7%
• Equity multiple: 0.54×
• Total profit: $-15,156
• Equity at exit: $17,579

10-year hold

• IRR: -3.7%
• Equity multiple: 0.76×
• Total profit: $-8,039
• Equity at exit: $10,194

Cash invested: $33,012 (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: 105
• Price-to-rent: 8.7×

Monthly cashflow live

• Estimated rent: $1,129 high
• Mortgage (P&I): −$618
• Tax from tax record: −$163 /mo · $1,951/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$237
• Net cashflow: $62

Break-even live

Break-even rent $1,051

Max offer price $117,900

Occupancy floor 90%

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: $29,475
• Closing costs: $3,537
• Reserves months: —
• Total cash needed: —

Rent comps 20 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1529 W 2nd St Anderson, IN	3.0	1.0	884	$1,200	$1.36	24d	1	0.56mi
1010 W 2nd St Unit 2 Anderson, IN	2.0	1.0	875	$1,025	$1.17	22d	1	0.79mi
1010 W 2nd St Unit 3 Anderson, IN	3.0	1.0	1025	$1,125	$1.10	15d	1	0.79mi
1631 W 7th St Anderson, IN	3.0	1.0	900	$1,000	$1.11	44d	1	0.81mi
1212 W 5th St Anderson, IN	3.0	1.0	1252	$1,295	$1.03	12d	1	0.83mi
1724 Greenwood Dr Anderson, IN	3.0	1.5	950	$1,025	$1.08	44d	1	0.83mi
1136 Irving Way Anderson, IN	2.0	1.0	900	$895	$0.99	22d	1	1.09mi
506 W 2nd St Anderson, IN	3.0	1.0	964	$1,095	$1.14	24d	1	1.10mi
820 W 7th St Apt A Anderson, IN	2.0	2.0	1400	$1,200	$0.86	24d	1	1.11mi
510 W 5th St Anderson, IN	3.0	1.5	1617	$995	$0.62	44d	1	1.16mi
921 W 9th St Anderson, IN	3.0	2.0	1611	$1,375	$0.85	24d	1	1.17mi
521 W Vinyard St Anderson, IN	3.0	2.0	1712	$1,495	$0.87	16d	1	1.21mi
1222 Nichol Ave Unit 4 Anderson, IN	3.0	1.0	1000	$1,135	$1.14	8d	1	1.21mi
1310 W 13th St Anderson, IN	2.0	1.0	1178	$895	$0.76	2d	1	1.26mi
1404 Walton St Anderson, IN	3.0	1.0	1090	$995	$0.91	44d	1	1.27mi
1532 Walton St Anderson, IN	3.0	1.0	1342	$1,100	$0.82	44d	1	1.37mi
2916 W 12th St Anderson, IN	3.0	1.0	1271	$1,295	$1.02	44d	1	1.40mi
1616 W 16th St Anderson, IN	2.0	1.0	1038	$1,050	$1.01	44d	1	1.41mi
1321 Lafayette Ct Anderson, IN	3.0	1.5	962	$1,350	$1.40	11d	1	1.41mi
1502 Cedar St Anderson, IN	2.0	1.0	1104	$850	$0.77	44d	1	1.47mi

Listing history 8 events

1. 2026-06-03
   status $117,900 Pending 53 DOM
2. 2026-06-02
   days on market $117,900 Active 53 DOM
3. 2026-06-01
   days on market $117,900 Active 52 DOM
4. 2026-05-31
   days on market $117,900 Active 51 DOM
5. 2026-05-12
   price $125,000 588-char remark

   Show marketing remark (588 chars)

   Great opportunity to take over a complete renovation on this farm house! Most of the demo has been done. Subfloor that's down is not nailed down and moveable/floating to make access to the crawlspace easy for running wire/cables/plumbing. EXERCISE EXTREME CAUTION WHEN SHOWING - some areas do not have subfloor. Home does have gas/electric and municipal water and sewer run to the home. There is still a working well on the property, also. This 3 acre, NO HOA plot of land is waiting for you to shape the house into a home! Come and see if this is the perfect project home for you!

6. 2026-04-28
   price $129,900 588-char remark

   Show marketing remark (588 chars)

   Great opportunity to take over a complete renovation on this farm house! Most of the demo has been done. Subfloor that's down is not nailed down and moveable/floating to make access to the crawlspace easy for running wire/cables/plumbing. EXERCISE EXTREME CAUTION WHEN SHOWING - some areas do not have subfloor. Home does have gas/electric and municipal water and sewer run to the home. There is still a working well on the property, also. This 3 acre, NO HOA plot of land is waiting for you to shape the house into a home! Come and see if this is the perfect project home for you!

7. 2026-04-21
   price $135,000 588-char remark

   Show marketing remark (588 chars)

   Great opportunity to take over a complete renovation on this farm house! Most of the demo has been done. Subfloor that's down is not nailed down and moveable/floating to make access to the crawlspace easy for running wire/cables/plumbing. EXERCISE EXTREME CAUTION WHEN SHOWING - some areas do not have subfloor. Home does have gas/electric and municipal water and sewer run to the home. There is still a working well on the property, also. This 3 acre, NO HOA plot of land is waiting for you to shape the house into a home! Come and see if this is the perfect project home for you!

8. 2026-04-10
   listed $140,000 Active 588-char remark

   Show marketing remark (588 chars)

   Great opportunity to take over a complete renovation on this farm house! Most of the demo has been done. Subfloor that's down is not nailed down and moveable/floating to make access to the crawlspace easy for running wire/cables/plumbing. EXERCISE EXTREME CAUTION WHEN SHOWING - some areas do not have subfloor. Home does have gas/electric and municipal water and sewer run to the home. There is still a working well on the property, also. This 3 acre, NO HOA plot of land is waiting for you to shape the house into a home! Come and see if this is the perfect project home for you!

ⓘ 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: $1,951 · $163/mo
• Projected year-2 tax: $1,951 · $163/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: $13,543
• − Mortgage interest: −$6,604
• − Property taxes: −$1,951
• − Insurance: −$590
• − Repairs & maintenance: −$1,083
• − Management: −$1,083
• − Depreciation: −$3,430
• Taxable loss: −$1,198
• Est. tax savings @ 24.0%: +$288
• After-tax cash flow: $1,027/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

-10.7% since first listed

4 events — show timeline

• 2026-05-12 Price Changed $125,000 MIBOR as Distributed by MLS Grid
• 2026-04-28 Price Changed $129,900 MIBOR as Distributed by MLS Grid
• 2026-04-21 Price Changed $135,000 MIBOR as Distributed by MLS Grid
• 2026-04-10 Listed $140,000 MIBOR as Distributed by MLS Grid

Property tax history

+2.6%/yr

Latest (2024): $1,951 · +4.2% YoY. Source: county tax records.