2730 Noble St · Anderson, IN 46016

$64,900

2 bd · 1.0 ba · 896 sqft · SingleFamily public records · 28 Days on market

Built 1923 4,640 sqft lot $72/sqft · 54% above area Est $84k · 23% 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 +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• Rent growth +4.5/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTOR ALERT!!! This 2 bd/1 bath home is the perfect opportunity to use as a rental or for a first time home buyer! The Living Rm and both bdrms have HW floors. Large unfinished basement for lots of storage. Central Air is only 2 years old! Was previously rented for $900/month. Property being sold in AS-IS condition.

Key facts

• Central air
• Hw floors
• 4,640 sq ft lot

Tags

• HW FLOORS
• LARGE UNFINISHED BASEMENT
• CENTRAL AIR

🏷️ Possibly a rental listed for sale. The $64,900 price doesn't fit this home's estimated sale value (~$84,477) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $249 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($907 rent vs $65k).
• Recommended offer: $64k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.9% 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 fast (+7.9%/yr); 185 active listings in the ZIP; 39 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 46% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 184 units permitted in Madison County in 2024 (0 in 5+ unit buildings).
• This rent runs 30% of the median local income ($36k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $449 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 + 7.9% rent growth), your $18k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 28 days — a 2% lower offer ($64k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 21y ago; this cycle's ask has dropped $10k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $7k; list at $65k implies a 827% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $63,926 (1.5% below list)

Questions for the listing agent

1. Built in 1923 — 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: 1.40% ✓
• Cap rate: 10.90%
• Cash-on-cash: 16.47%
• DSCR: 1.73
• GRM: 6.0

CMA / ARV

• ARV (median comp): $84,477
• List price: $64,900
• Delta: -23.17%
• 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
2639 Central Ave	0.31mi	2/1.0	952 (+6%)	8mo	$57,000	$60	68
123 E 35th St	0.67mi	2/1.0	885 (-1%)	4mo	$29,000	$33	64
2505 Lincoln St	0.75mi	2/1.0	900 (+0%)	4mo	$130,000	$144	61
320 E 34th St	0.54mi	2/1.0	846 (-6%)	6mo	$90,000	$106	60
115 South Dr	0.73mi	2/1.0	886 (-1%)	6mo	$90,000	$102	59
3127 E Lynn St	0.40mi	2/1.0	814 (-9%)	11mo	$53,000	$65	57
3507 Columbus Ave	0.62mi	2/1.0	832 (-7%)	4mo	$60,000	$72	55
300 E 34th St	0.55mi	2/1.0	832 (-7%)	11mo	$130,000	$156	53
421 E 36th St	0.67mi	3/1.0 (+1)	920 (+3%)	7mo	$129,900	$141	53
309 E 34th St	0.57mi	2/1.0	780 (-13%)	5mo	$130,000	$167	48
128 E 36th St	0.69mi	2/1.0	762 (-15%)	4mo	$126,000	$165	40
131 E 36th St	0.71mi	2/1.0	780 (-13%)	8mo	$133,500	$171	38

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 · 7.88% rent growth · sell at horizon

5-year hold

• IRR: 13.1%
• Equity multiple: 1.55×
• Total profit: $10,064
• Equity at exit: $9,677

10-year hold

• IRR: 25.6%
• Equity multiple: 3.78×
• Total profit: $50,537
• Equity at exit: $5,611

Cash invested: $18,172 (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 46016

• Home prices YoY: -3.5%
• Rents YoY: 7.9%
• Active inventory: 185
• Price-to-rent: 6.0×

Monthly cashflow live

• Estimated rent: $907 high
• Mortgage (P&I): −$340
• Tax from tax record: −$100 /mo · $1,200/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$191
• Net cashflow: $249

Break-even live

Break-even rent $592

Max offer price $64,900

Occupancy floor 68%

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: $16,225
• Closing costs: $1,947
• Reserves months: —
• Total cash needed: —

Rent comps 39 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3006 Noble St Anderson, IN	2.0	1.0	1064	$995	$0.94	7d	1	0.13mi
328 E 31st St Anderson, IN	1.0	1.0	600	$750	$1.25	43d	1	0.26mi
3000 Fletcher St Unit 3000 Anderson, IN	2.0	1.0	800	$650	$0.81	43d	1	0.26mi
3009 E Lynn St Unit 1 Anderson, IN	3.0	1.0	1000	$875	$0.88	20d	1	0.30mi
2625 Main St Anderson, IN	2.0	1.0	988	$895	$0.91	23d	1	0.38mi
702 E 23rd St Anderson, IN	1.0	1.0	560	$595	$1.06	14d	1	0.38mi
1232 E 28th St Anderson, IN	2.0	2.0	795	$950	$1.19	43d	1	0.39mi
2233 E Lynn St Anderson, IN	1.0	1.0	700	$695	$0.99	1d	1	0.48mi
1501 E 31st St Anderson, IN	2.0	1.0	840	$1,199	$1.43	20d	1	0.57mi
2111 Central Ave Anderson, IN	3.0	1.0	1026	$1,250	$1.22	43d	1	0.58mi
2002 Jefferson St Unit 3 Anderson, IN	1.0	2.0	725	$600	$0.83	43d	1	0.59mi
3614 Columbus Ave Anderson, IN	1.0	1.0	553	$725	$1.31	14d	1	0.67mi
2627 Chase St Anderson, IN	3.0	1.0	1050	$850	$0.81	17d	1	0.69mi
2904 Lincoln St Anderson, IN	2.0	1.0	864	$900	$1.04	43d	1	0.73mi
1726-1728 Walnut St Anderson, IN	2.0	2.0	900	$995	$1.11	2d	1	0.73mi
2324 Chase St Anderson, IN	2.0	1.0	783	$950	$1.21	43d	1	0.74mi
1710 Jefferson St Apt 2 Anderson, IN	2.0	1.0	550	$950	$1.73	43d	1	0.75mi
2442 Morton St Anderson, IN	2.0	1.0	862	$1,125	$1.31	23d	1	0.82mi
1719 Johnson Ave Anderson, IN	1.0	1.0	616	$824	$1.34	43d	1	0.83mi
2820 Fairview St Unit A Anderson, IN	2.0	1.0	850	$895	$1.05	43d	1	0.85mi
1411 Home Ave Anderson, IN	3.0	1.0	810	$1,295	$1.60	23d	1	1.00mi
618 W 22nd St Anderson, IN	3.0	1.0	900	$1,250	$1.39	43d	1	1.01mi
2301 Sheridan St Anderson, IN	2.0	1.0	900	$950	$1.06	43d	1	1.01mi
702 W 23rd St Anderson, IN	1.0	1.0	560	$595	$1.06	4d	1	1.02mi
221 E 13th St Anderson, IN	1.0	1.0	595	$995	$1.67	14d	1	1.06mi
219 E 13th St Anderson, IN	3.0	1.0	882	$1,000	$1.13	4d	1	1.07mi
1317 Main St Anderson, IN	2.0	1.0	750	$800	$1.07	43d	1	1.09mi
2411 Hendricks St Anderson, IN	3.0	1.0	860	$1,000	$1.16	23d	1	1.10mi
2208 Hendricks St Unit 3 Anderson, IN	1.0	1.0	585	$675	$1.15	43d	1	1.12mi
414 Wheeler Ave Apt B Anderson, IN	1.0	1.0	600	$650	$1.08	43d	1	1.16mi
4015 Haverhill Dr Anderson, IN	3.0	2.0	884	$1,100	$1.24	43d	1	1.16mi
812 Mellen Dr Unit 814 Anderson, IN	2.0	1.0	924	$950	$1.03	1d	1	1.20mi
223 E 11th St Anderson, IN	2.0	1.0	800	$900	$1.12	43d	1	1.20mi
4415 Columbus Ave Apt 15 Anderson, IN	2.0	1.0	800	$800	$1.00	1d	1	1.22mi
4426 Mellen Ct Anderson, IN	2.0	1.0	899	$900	$1.00	1d	1	1.22mi
917 E 8th St Unit 2 Anderson, IN	2.0	1.0	550	$825	$1.50	7d	1	1.37mi
120 W 10th St Anderson, IN	1.0–3.0	1.0	1066	$1,025	$0.96	1d	1	1.39mi
1045 Alhambra Dr Unit 6 Anderson, IN	2.0	1.5	900	$975	$1.08	23d	1	1.44mi
1502 Cedar St Anderson, IN	2.0	1.0	1104	$850	$0.77	43d	1	1.46mi

Listing history 8 events

1. 2026-05-15
   status Pending 323-char remark

   Show marketing remark (323 chars)

   INVESTOR ALERT!!! This 2 bd/1 bath home is the perfect opportunity to use as a rental or for a first time home buyer! The Living Rm and both bdrms have HW floors. Large unfinished basement for lots of storage. Central Air is only 2 years old! Was previously rented for $900/month. Property being sold in AS-IS condition.

2. 2026-05-14
   price $64,900 323-char remark

   Show marketing remark (323 chars)

   INVESTOR ALERT!!! This 2 bd/1 bath home is the perfect opportunity to use as a rental or for a first time home buyer! The Living Rm and both bdrms have HW floors. Large unfinished basement for lots of storage. Central Air is only 2 years old! Was previously rented for $900/month. Property being sold in AS-IS condition.

3. 2026-04-27
   price $69,900 323-char remark

   Show marketing remark (323 chars)

   INVESTOR ALERT!!! This 2 bd/1 bath home is the perfect opportunity to use as a rental or for a first time home buyer! The Living Rm and both bdrms have HW floors. Large unfinished basement for lots of storage. Central Air is only 2 years old! Was previously rented for $900/month. Property being sold in AS-IS condition.

4. 2026-04-17
   listed $74,900 Active 323-char remark

   Show marketing remark (323 chars)

   INVESTOR ALERT!!! This 2 bd/1 bath home is the perfect opportunity to use as a rental or for a first time home buyer! The Living Rm and both bdrms have HW floors. Large unfinished basement for lots of storage. Central Air is only 2 years old! Was previously rented for $900/month. Property being sold in AS-IS condition.

5. 2012-11-29
   historical
6. 2012-05-28
   listed $20,000
7. 2006-05-19
   soldstatus $7,000
8. 2005-11-07
   listed $9,900

ⓘ 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: $1,200 · $100/mo
• Projected year-2 tax: $1,200 · $100/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: $10,887
• − Mortgage interest: −$3,635
• − Property taxes: −$1,200
• − Insurance: −$324
• − Repairs & maintenance: −$871
• − Management: −$871
• − Depreciation: −$1,888
• Taxable income: $2,097
• Est. tax owed @ 24.0%: −$503
• After-tax cash flow: $2,489/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): 17,834
• Household income: $36,029
• Rent vs Own: 59.5% rent · 40.5% own
• Severe rent burden: 1193.0

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: Diverse neighborhood (Simpson 0.58)
• Race & ethnicity: White 61% Black 18% Hispanic / Latino 13% Two or more races 11% Native American 1%
• Hispanic origin (detail): Mexican 10% Puerto Rican 1%
• Common ancestry: Italian 2% Slovak 1% Iranian 1%
• Foreign-born: 4% · Canada
• Languages at home: 86% English-only · Spanish 12%

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: ▼ -11.12%
• Current HPI: 302.7437
• Rent YoY: ▲ 7.88%
• 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

+555.6% since first listed

8 events — show timeline

• 2026-05-15 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-14 Price Changed $64,900 MIBOR as Distributed by MLS Grid
• 2026-04-27 Price Changed $69,900 MIBOR as Distributed by MLS Grid
• 2026-04-17 Listed $74,900 MIBOR as Distributed by MLS Grid
• 2012-11-29 Listing Removed — MIBOR as Distributed by MLS Grid
• 2012-05-28 Listed $20,000 MIBOR as Distributed by MLS Grid
• 2006-05-19 Sold (MLS) $7,000 MIBOR as Distributed by MLS Grid
• 2005-11-07 Listed $9,900 MIBOR as Distributed by MLS Grid

Property tax history

+8.8%/yr

Latest (2024): $1,200 · +76.2% YoY. Source: county tax records.