1432 Ohio Ave · Anderson, IN 46016

$244,900

4 bd · 4.0 ba · 2,679 sqft · MultiFamily public records · 109 Days on market

Built 1885 6,500 sqft lot $91/sqft · 602% above area

---

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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 4 units. confirmed

Listing remarks MLS

1432 Ohio Ave, presenting a prime investment in the city of Anderson! This large 4-unit building has recently experienced an extensive six figure renovation & is now up for sale with income generating $2,800 monthly. This property is in the heart of Anderson making this a top tier location for tenant living & investment potential! Add this high-quality investment to your portfolio!

Key facts

• Extensive renovation
• Top tier location
• Income generating

Tags

• EXTENSIVE RENOVATION
• INCOME GENERATING
• TOP TIER LOCATION

What this means for you Summary

Snapshot

• This is a 4 × 4-bed/4.0-bath units multifamily listed at $245k.

Deal economics

• At list price, monthly cash flow is $2k ($30k/yr) — positive. Per door: $620/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($5k rent vs $245k).
• Recommended offer: $223k (9.0% below list) — sets the bar for market timing.
• Cap rate 18.4% 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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); lower-income renter base — watch delinquency; 184 units permitted in Madison County in 2024 (0 in 5+ unit buildings).
• At $4,952/mo this rent would consume 165% of the median local household income ($36k/yr) (locally 1193% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k 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 $69k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 109 days — a 9% lower offer ($223k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y 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.

Risks & watch-outs

• Watch-outs: built in 1885 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $222,859 (9.0% below list)

Questions for the listing agent

1. It's been on market 109 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1885 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.02% ✓
• Cap rate: 18.44%
• Cash-on-cash: 43.39%
• DSCR: 2.93
• GRM: 4.1

CMA / ARV

• ARV (median comp): $139,535
• List price: $244,900
• Delta: 75.51%
• Verdict: OVERPRICED
• Comps: 2 within 1.0 mi

Show comp detail 4 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
420 E 14th St	0.12mi	4/3.0	2,431 (-9%)	13mo	$105,000	$43	64
607 Chestnut St	0.64mi	5/4.5 (+1)	2,544 (-5%)	9mo	$230,000	$90	48
2213 Noble St	0.53mi	5/2.0 (+1)	2,314 (-14%)	11mo	$70,000	$30	30
2116 Pearl St	0.48mi	5/3.0 (+1)	2,357 (-12%)	24mo	$125,000	$53	28

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: 45.4%
• Equity multiple: 3.09×
• Total profit: $143,649
• Equity at exit: $36,515

10-year hold

• IRR: 53.2%
• Equity multiple: 7.47×
• Total profit: $443,893
• Equity at exit: $21,174

Cash invested: $68,572 (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: 16.5×

Monthly cashflow live

• Estimated rent: $4,952 medium
• Mortgage (P&I): −$1,284
• Tax from tax record: −$46 /mo · $558/yr
• Insurance: −$102
• HOA: −$0
• Vacancy / Maint / Mgmt: −$1,040
• Net cashflow: $2,479

Break-even live

Break-even rent $1,814

Max offer price $244,900

Occupancy floor 45%

4-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 4× units	4	4	$4,952
Total (4 units)			$4,952

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: $61,225
• Closing costs: $7,347
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1728 Walnut St Anderson, IN	3.0	2.0	2484	$1,295	$0.52	23d	1	0.25mi
2626 Main St Anderson, IN	3.0	2.0	3366	$1,200	$0.36	23d	1	0.93mi
1121 Victory Ct Anderson, IN	3.0	1.0	2053	$1,295	$0.63	21d	1	1.41mi

Listing history 29 events

1. 2026-06-18
   days on market $244,900 Active 109 DOM
2. 2026-06-17
   days on market $244,900 Active 108 DOM
3. 2026-06-16
   days on market $244,900 Active 107 DOM
4. 2026-06-15
   days on market $244,900 Active 106 DOM
5. 2026-06-13
   days on market $244,900 Active 104 DOM
6. 2026-06-09
   days on market $244,900 Active 100 DOM
7. 2026-06-08
   days on market $244,900 Active 99 DOM
8. 2026-06-07
   days on market $244,900 Active 98 DOM
9. 2026-06-05
   days on market $244,900 Active 95 DOM
10. 2026-06-03
    days on market $244,900 Active 94 DOM
11. 2026-06-02
    days on market $244,900 Active 93 DOM
12. 2026-06-01
    days on market $244,900 Active 92 DOM
13. 2026-05-31
    days on market $244,900 Active 91 DOM
14. 2026-04-30
    price $244,900 392-char remark

    Show marketing remark (392 chars)

    1432 Ohio Ave, presenting a prime investment in the city of Anderson! This large 4-unit building has recently experienced an extensive six figure renovation & is now up for sale with income generating $2,800 monthly. This property is in the heart of Anderson making this a top tier location for tenant living & investment potential! Add this high-quality investment to your portfolio!

15. 2026-03-01
    listed $249,900 Active 392-char remark

    Show marketing remark (392 chars)

    1432 Ohio Ave, presenting a prime investment in the city of Anderson! This large 4-unit building has recently experienced an extensive six figure renovation & is now up for sale with income generating $2,800 monthly. This property is in the heart of Anderson making this a top tier location for tenant living & investment potential! Add this high-quality investment to your portfolio!

16. 2025-12-26
    historical
17. 2025-09-25
    price $254,900
18. 2025-09-11
    listed $269,000 Active
19. 2025-08-15
    historical $700
20. 2025-08-09
    price $700
21. 2025-08-08
    price $725
22. 2025-08-08
    price $700
23. 2025-07-24
    price $725
24. 2025-07-01
    price $750
25. 2025-06-26
    price $775
26. 2025-06-07
    price $825
27. 2025-04-25
    listed $850
28. 2008-02-03
    historical
29. 2006-09-06
    listed $29,000

ⓘ 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: $558 · $46/mo
• Projected year-2 tax: $1,320 · $110/mo
• Expected delta: +$762/yr (+$63/mo · 136.6%)

ⓘ 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: $59,424
• − Mortgage interest: −$13,718
• − Property taxes: −$558
• − Insurance: −$1,224
• − Repairs & maintenance: −$4,754
• − Management: −$4,754
• − Depreciation: −$7,124
• Taxable income: $27,291
• Est. tax owed @ 24.0%: −$6,550
• After-tax cash flow: $23,201/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

+744.5% since first listed

16 events — show timeline

• 2026-04-30 Price Changed $244,900 MIBOR as Distributed by MLS Grid
• 2026-03-01 Listed $249,900 MIBOR as Distributed by MLS Grid
• 2025-12-26 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-09-25 Price Changed $254,900 MIBOR as Distributed by MLS Grid
• 2025-09-11 Listed $269,000 MIBOR as Distributed by MLS Grid
• 2025-08-15 Rental Removed $700 BUILDIUM
• 2025-08-09 Price Changed $700 BUILDIUM
• 2025-08-08 Price Changed $725 BUILDIUM
• 2025-08-08 Price Changed $700 BUILDIUM
• 2025-07-24 Price Changed $725 BUILDIUM
• 2025-07-01 Price Changed $750 BUILDIUM
• 2025-06-26 Price Changed $775 BUILDIUM
• 2025-06-07 Price Changed $825 BUILDIUM
• 2025-04-25 Listed for Rent $850 BUILDIUM
• 2008-02-03 Listing Removed — MIBOR as Distributed by MLS Grid
• 2006-09-06 Listed $29,000 MIBOR as Distributed by MLS Grid

Property tax history

-2.4%/yr

Latest (2024): $558 · +8.4% YoY. Source: county tax records.