Victorian C20 Camelot Village Plan · Anderson, IN 46013

$101,000

3 bd · 2.0 ba · 1,352 sqft · Manufactured · 389 Days on market

Fair condition

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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 +26.7/30.0
• DSCR +9.2/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Camelot Village is the perfect community for families who want a neat and comfortable place to call home. Centrally located with a variety of home styles at low prices and helpful property management team, you’ll be sure to find the exact home that fits within your budget and lifestyle at Camelot Village. Located in Anderson Indiana, Camelot Village community offers a beautiful neighborhood for you to call home. Our communities are perfect for growing families and people who want to live in a calm and comfortable place. It’s only a quick drive is the world-famous Children’s Museum in Indianapolis, as well as Hoosier Park Racing & Casino, Wigwam Gym, the Anderson Museum of Art, and the Anderson Speedway. Our Camelot Village Community is also located near several restaurants, shopping, and entertainment options.

Key facts

• Listed 388 days

🏗️ New construction. Builder plan / spec listing (the home may be to-be-built); metrics use comparable previous sales.

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath manufactured listed at $101k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $275 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $101k).
• Recommended offer: $89k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.6% 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: 151 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $698 of loan paydown is wiped out by about $3k 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 + 3.0% rent growth), your $28k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 389 days — a 12% lower offer ($89k) is reasonable based on typical stale-listing flexibility.

Recommended offer $88,880 (12.0% below list)

Questions for the listing agent

1. It's been on market 389 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.22% ✓
• Cap rate: 9.56%
• Cash-on-cash: 11.65%
• DSCR: 1.52
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 1.1%
• Equity multiple: 1.04×
• Total profit: $1,141
• Equity at exit: $15,059

10-year hold

• IRR: 10.7%
• Equity multiple: 1.83×
• Total profit: $23,588
• Equity at exit: $8,733

Cash invested: $28,280 (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 46013

• Home prices YoY: -26.9%
• Active inventory: 151
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $1,231 high
• Mortgage (P&I): −$530
• Tax est. 1.5%: −$126 /mo · $1,515/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$259
• Net cashflow: $275

Break-even live

Break-even rent $884

Max offer price $101,000

Occupancy floor 73%

Sensitivity live

Price	-10% $344	-5% $309	+0% $275	+5% $240	+10% $205
Rent	-10% $177	-5% $226	+0% $275	+5% $323	+10% $372
Rate	-1.0pp $325	-0.5pp $300	base $275	+0.5pp $248	+1.0pp $222

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: $25,250
• Closing costs: $3,030
• Reserves months: —
• Total cash needed: —

Rent comps 6 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3815 Camelot Blvd Anderson, IN	3.0	2.0	1456	$1,179	$0.81	2d	2	0.05mi
2203 W 28th St Anderson, IN	3.0	1.0	1068	$1,000	$0.94	44d	1	0.93mi
2719 Dewey St Anderson, IN	2.0	1.0	877	$1,150	$1.31	44d	1	0.99mi
2613 Louise St Anderson, IN	2.0	1.0	1096	$950	$0.87	23d	1	1.11mi
4325 S Madison Ave Anderson, IN	1.0–3.0	1.0–1.5	995	$1,330	$1.34	2d	6	1.23mi
2705 Horton Dr Anderson, IN	3.0	1.0	936	$1,050	$1.12	21d	1	1.43mi

Listing history 15 events

1. 2026-06-21
   days on market $101,000 Active 389 DOM
2. 2026-06-18
   days on market $101,000 Active 386 DOM
3. 2026-06-17
   days on market $101,000 Active 385 DOM
4. 2026-06-16
   days on market $101,000 Active 384 DOM
5. 2026-06-15
   days on market $101,000 Active 383 DOM
6. 2026-06-13
   days on market $101,000 Active 381 DOM
7. 2026-06-09
   days on market $101,000 Active 377 DOM
8. 2026-06-08
   days on market $101,000 Active 376 DOM
9. 2026-06-07
   days on market $101,000 Active 375 DOM
10. 2026-06-05
    days on market $101,000 Active 372 DOM
11. 2026-06-03
    days on market $101,000 Active 371 DOM
12. 2026-06-02
    days on market $101,000 Active 370 DOM
13. 2026-06-01
    days on market $101,000 Active 369 DOM
14. 2026-05-31
    days on market $101,000 Active 368 DOM
15. 2025-05-28
    listed $101,000 Active 845-char remark

    Show marketing remark (845 chars)

    Camelot Village is the perfect community for families who want a neat and comfortable place to call home. Centrally located with a variety of home styles at low prices and helpful property management team, you’ll be sure to find the exact home that fits within your budget and lifestyle at Camelot Village. Located in Anderson Indiana, Camelot Village community offers a beautiful neighborhood for you to call home. Our communities are perfect for growing families and people who want to live in a calm and comfortable place. It’s only a quick drive is the world-famous Children’s Museum in Indianapolis, as well as Hoosier Park Racing & Casino, Wigwam Gym, the Anderson Museum of Art, and the Anderson Speedway. Our Camelot Village Community is also located near several restaurants, shopping, and entertainment options.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $14,773
• − Mortgage interest: −$5,658
• − Property taxes: −$1,515
• − Insurance: −$505
• − Repairs & maintenance: −$1,182
• − Management: −$1,182
• − Depreciation: −$2,938
• Taxable income: $1,794
• Est. tax owed @ 24.0%: −$431
• After-tax cash flow: $2,865/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.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

The home requires moderate renovations to improve its condition and value. Upgrades to the exterior, kitchen, and bathrooms would significantly enhance its appeal.

Repairs flagged

• Moderate exterior siding — Aging appearance
• Moderate kitchen appliances — Dated and worn
• Moderate bathroom fixtures — Standard and dated
• Moderate interior paint — Faded appearance

Value-add opportunities

• Resale Paint interior walls — Fresh paint enhances curb appeal
• Resale Replace kitchen appliances — Modern appliances improve functionality and aesthetics
• Resale Upgrade bathroom fixtures — Updated fixtures enhance bathroom functionality and aesthetics
• Resale Replace exterior siding — Fresh siding improves curb appeal and home value

Renovation cost estimate screening

Repair item	Severity	Est. cost
exterior siding · Aging appearance	Moderate	$3,000–15,000
kitchen appliances · Dated and worn	Moderate	$3,000–15,000
bathroom fixtures · Standard and dated	Moderate	$3,000–15,000
interior paint · Faded appearance	Moderate	$3,000–15,000
Total estimated repair cost · 4 items		$12,000–60,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint enhances curb appeal ↑
• Resale Replace kitchen appliances — Modern appliances improve functionality and aesthetics ↑
• Resale Upgrade bathroom fixtures — Updated fixtures enhance bathroom functionality and aesthetics ↑
• Resale Replace exterior siding — Fresh siding improves curb appeal and home value ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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): 19,073
• Household income: $49,310
• Rent vs Own: 34.8% rent · 65.2% own
• Severe rent burden: 612.0

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 (83%)
• Race & ethnicity: White 83% Two or more races 8% Black 7% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 1%
• Foreign-born: 0% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -86.70%
• Current HPI: 235.7485
• Rent YoY: —
• 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

1 event — show timeline

• 2025-05-28 Listed $101,000 Zillow