2507 E 5th St · Anderson, IN 46012

$74,900

2 bd · 1.0 ba · 840 sqft · SingleFamily public records · 16 Days on market

Built 1950 6,324 sqft lot $89/sqft · 13% below area Est $87k · 13% 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 +30.0/30.0
• ARV discount +13.5/15.0
• DSCR +10.0/10.0
• 1% rule +8.5/10.0
• 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

Nice home with many possiblities. Large Master bedroom, 3rd bedroom also has laundry connection. Open living room and kitchen. Fully fenced yard. 10th St. School District. Immediate possession.

Key facts

• Manageable yard
• Near dining
• Near shopping

Tags

• EAST-SIDE LOCATION
• FUNCTIONAL LAYOUT
• MANAGEABLE YARD
• ROOM FOR RELAXING
• NEAR SHOPPING
• NEAR DINING

Property features AI

Exterior

• Parking: Carport
• Utilities: Public water; Municipal sewer connected; No solid waste service listed
• Home design: Single-family residence; One story
• Construction: Block foundation; Aluminum and wood siding
• Exterior features: Lot under 1/4 acre (approximately 0.15 acres)

Interior

• Kitchen: Gas cooktop; Refrigerator
• Bedrooms: 2 bedrooms on the main level (one is 9 x 12)
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Hardwood floors; Living room (12 x 17); Additional main-level room (14 x 13)
• Laundry & utility: Main-level laundry (common laundry); Laundry room (12 x 9)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $300 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Recommended offer: $74k (1.5% below list) — sets the bar for market timing.
• Cap rate 11.1% 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; 14 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 $518 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 $21k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($74k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 22y 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 $51k; 47% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $73,776 (1.5% below list)

Questions for the listing agent

1. Built in 1950 — 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. 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.
6. 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.
7. 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: 1.35% ✓
• Cap rate: 11.10%
• Cash-on-cash: 17.17%
• DSCR: 1.76
• GRM: 6.2

CMA / ARV

• ARV (median comp): $86,518
• List price: $74,900
• Delta: -13.43%
• 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
614 Harrison St	0.23mi	2/1.0	866 (+3%)	0mo	$145,000	$167	84
2524 E 5th St	0.07mi	2/1.0	780 (-7%)	2mo	$27,000	$35	84
630 Chester St	0.17mi	2/1.0	882 (+5%)	6mo	$130,000	$147	79
830 Chester St	0.27mi	2/1.0	800 (-5%)	2mo	$130,000	$163	78
2317 E 3rd St	0.18mi	3/1.0 (+1)	888 (+6%)	2mo	$142,000	$160	75
2315 E 3rd St	0.19mi	2/1.0	888 (+6%)	10mo	$60,000	$68	74
2415 E 9th St	0.29mi	2/1.0	773 (-8%)	0mo	$75,000	$97	73
2526 E 5th St	0.08mi	2/1.0	950 (+13%)	5mo	$80,000	$84	70
2405 E 9th St	0.30mi	2/1.0	920 (+10%)	9mo	$80,000	$87	62
817 Alhambra Dr	0.50mi	2/1.0	792 (-6%)	9mo	$70,000	$88	60
2614 E 8th St	0.23mi	2/1.0	741 (-12%)	12mo	$98,900	$133	60
1321 Lennox St	0.57mi	2/2.0	936 (+11%)	11mo	$135,500	$145	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: 7.2%
• Equity multiple: 1.28×
• Total profit: $5,791
• Equity at exit: $11,168

10-year hold

• IRR: 15.5%
• Equity multiple: 2.19×
• Total profit: $24,916
• Equity at exit: $6,476

Cash invested: $20,972 (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: 6.2×

Monthly cashflow live

• Estimated rent: $1,009 high
• Mortgage (P&I): −$393
• Tax from tax record: −$73 /mo · $873/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$212
• Net cashflow: $300

Break-even live

Break-even rent $629

Max offer price $74,900

Occupancy floor 65%

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2412 E 7th St Anderson, IN	2.0	1.0	600	$895	$1.49	2d	1	0.16mi
608 Ellenhurst Dr Anderson, IN	2.0	1.0	686	$1,100	$1.60	24d	1	0.34mi
530 Alhambra Dr Anderson, IN	1.0–2.0	1.0	879	$1,100	$1.25	44d	1	0.39mi
2505 E 10th St Anderson, IN	1.0–2.0	1.0	850	$949	$1.12	44d	2	0.41mi
1829 E 8th St Anderson, IN	1.0–3.0	1.0	810	$1,025	$1.27	24d	9	0.57mi
2625 Lindberg Rd Anderson, IN	1.0–2.0	1.0	756	$1,385	$1.83	44d	1	0.60mi
1045 Alhambra Dr Unit 6 Anderson, IN	2.0	1.5	900	$975	$1.08	24d	1	0.60mi
919 E 6th St Apt 2 Anderson, IN	1.0	1.0	700	$625	$0.89	24d	1	1.09mi
917 E 8th St Unit 2 Anderson, IN	2.0	1.0	550	$825	$1.50	7d	1	1.11mi
915 High St Unit 915 1/2 Anderson, IN	1.0	1.0	600	$650	$1.08	44d	1	1.12mi
1719 Johnson Ave Anderson, IN	1.0	1.0	616	$824	$1.34	44d	1	1.26mi
1411 Home Ave Anderson, IN	3.0	1.0	810	$1,295	$1.60	24d	1	1.43mi
414 Wheeler Ave Apt B Anderson, IN	1.0	1.0	600	$650	$1.08	44d	1	1.48mi
1710 Jefferson St Apt 2 Anderson, IN	2.0	1.0	550	$950	$1.73	44d	1	1.49mi

Listing history 7 events

1. 2026-05-06
   listed $74,900 Active 651-char remark
2. 2007-07-04
   historical
3. 2007-01-05
   listed $54,900
4. 2005-10-21
   soldstatus $51,000

   Show marketing remark (193 chars)

   Nice home with many possiblities. Large Master bedroom, 3rd bedroom also has laundry connection. Open living room and kitchen. Fully fenced yard. 10th St. School District. Immediate possession.

5. 2005-08-11
   listed $49,900

   Show marketing remark (193 chars)

   Nice home with many possiblities. Large Master bedroom, 3rd bedroom also has laundry connection. Open living room and kitchen. Fully fenced yard. 10th St. School District. Immediate possession.

6. 2004-09-25
   historical
7. 2004-04-08
   listed $54,900

ⓘ 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: $873 · $73/mo
• Projected year-2 tax: $873 · $73/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 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,103
• − Mortgage interest: −$4,196
• − Property taxes: −$873
• − Insurance: −$374
• − Repairs & maintenance: −$968
• − Management: −$968
• − Depreciation: −$2,179
• Taxable income: $2,545
• Est. tax owed @ 24.0%: −$611
• After-tax cash flow: $2,990/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

+36.4% since first listed

8 events — show timeline

• 2026-05-22 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-06 Listed $74,900 MIBOR as Distributed by MLS Grid
• 2007-07-04 Listing Removed — MIBOR as Distributed by MLS Grid
• 2007-01-05 Listed $54,900 MIBOR as Distributed by MLS Grid
• 2005-10-21 Sold (MLS) $51,000 MIBOR as Distributed by MLS Grid
• 2005-08-11 Listed $49,900 MIBOR as Distributed by MLS Grid
• 2004-09-25 Listing Removed — MIBOR as Distributed by MLS Grid
• 2004-04-08 Listed $54,900 MIBOR as Distributed by MLS Grid

Property tax history

+1.4%/yr

Latest (2024): $873 · +7.8% YoY. Source: county tax records.