1623 W 20th St · Anderson, IN 46016

$89,000

3 bd · 1.0 ba · 1,130 sqft · SingleFamily public records · 98 Days on market

Built 1929 7,000 sqft lot $79/sqft · 24% above area Est $72k · 24% over

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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 +26.9/30.0
• DSCR +9.3/10.0
• 1% rule +7.0/10.0
• Rent growth +4.5/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Prime investment opportunity on the West end of Anderson! This recently remodeled home has 3 bedrooms, 2 bathrooms, & a 2-car detached garage! Currently occupied with great long-term tenants at $1,100 monthly. Add this to your asset portfolio today!!

Key facts

• 7,000 sq ft lot
• Garage
• Built 1929

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $246 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $81k (9.0% 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: Rents rising fast (+7.9%/yr); 185 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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 36% 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 $615 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 + 7.9% rent growth), your $25k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 98 days — a 9% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 9y 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 $8k; list at $89k implies a 1012% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $80,990 (9.0% below list)

Questions for the listing agent

1. It's been on market 98 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 1.20% ✓
• Cap rate: 9.61%
• Cash-on-cash: 11.85%
• DSCR: 1.53
• GRM: 6.9

CMA / ARV

• ARV (median comp): $71,569
• List price: $89,000
• Delta: 24.36%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1404 Walton St	0.52mi	3/1.0	1,090 (-4%)	8mo	$70,000	$64	63
1310 W 13th St	0.53mi	2/1.0 (-1)	1,178 (+4%)	1mo	$62,000	$53	62
1805 W 21st St	0.16mi	4/1.5 (+1)	1,225 (+8%)	15mo	$52,000	$42	59
2113 Nelle St	0.17mi	3/1.0	1,025 (-9%)	21mo	$100,000	$98	59
2104 W 16th St	0.42mi	3/2.0	1,038 (-8%)	6mo	$125,000	$120	58
2210 Louise St	0.22mi	3/1.0	975 (-14%)	15mo	$128,000	$131	54
1628 Sherman St	0.61mi	2/1.0 (-1)	1,106 (-2%)	15mo	$55,000	$50	50
1511 Nichol Ave	0.50mi	2/1.0 (-1)	1,070 (-5%)	21mo	$63,000	$59	45
1430 Walton St	0.49mi	3/1.0	988 (-13%)	13mo	$127,500	$129	45
2414 W 16th St	0.58mi	2/1.0 (-1)	1,015 (-10%)	8mo	$110,000	$108	44
811 W 12th St	0.75mi	3/2.0	1,155 (+2%)	21mo	$60,000	$52	40
2226 Hendricks St	0.54mi	2/1.0 (-1)	990 (-12%)	15mo	$70,000	$71	36

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: 6.6%
• Equity multiple: 1.27×
• Total profit: $6,772
• Equity at exit: $13,270

10-year hold

• IRR: 19.9%
• Equity multiple: 3.05×
• Total profit: $51,155
• Equity at exit: $7,695

Cash invested: $24,920 (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: 6.9×

Monthly cashflow live

• Estimated rent: $1,071 high
• Mortgage (P&I): −$467
• Tax from tax record: −$96 /mo · $1,158/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $246

Break-even live

Break-even rent $760

Max offer price $89,000

Occupancy floor 72%

Sensitivity live

Price	-10% $296	-5% $271	+0% $246	+5% $221	+10% $196
Rent	-10% $161	-5% $204	+0% $246	+5% $288	+10% $331
Rate	-1.0pp $291	-0.5pp $269	base $246	+0.5pp $223	+1.0pp $199

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2004 Arrow Ave Anderson, IN	2.0	1.0	816	$1,125	$1.38	24d	1	0.07mi
1720 Nelle St Anderson, IN	2.0	1.0	768	$1,100	$1.43	24d	1	0.21mi
1640 W 17th St Anderson, IN	2.0	1.0	810	$895	$1.10	21d	1	0.22mi
1616 W 16th St Anderson, IN	2.0	1.0	1038	$1,050	$1.01	44d	1	0.28mi
1532 Walton St Anderson, IN	3.0	1.0	1342	$1,100	$0.82	44d	1	0.47mi
1502 Cedar St Anderson, IN	2.0	1.0	1104	$850	$0.77	44d	1	0.50mi
2613 Louise St Anderson, IN	2.0	1.0	1096	$950	$0.87	22d	1	0.52mi
1310 W 13th St Anderson, IN	2.0	1.0	1178	$895	$0.76	2d	1	0.54mi
1404 Walton St Anderson, IN	3.0	1.0	1090	$995	$0.91	44d	1	0.54mi
2411 Hendricks St Anderson, IN	3.0	1.0	860	$1,000	$1.16	24d	1	0.55mi
1123 Louise St Anderson, IN	2.0	1.0	850	$850	$1.00	44d	1	0.60mi
1136 Irving Way Anderson, IN	2.0	1.0	900	$895	$0.99	22d	1	0.61mi
1222 Nichol Ave Unit 4 Anderson, IN	3.0	1.0	1000	$1,135	$1.14	8d	1	0.62mi
2301 Sheridan St Anderson, IN	2.0	1.0	900	$950	$1.06	44d	1	0.62mi
2719 Dewey St Anderson, IN	2.0	1.0	877	$1,150	$1.31	44d	1	0.63mi
618 W 22nd St Anderson, IN	3.0	1.0	900	$1,250	$1.39	44d	1	0.64mi
2233 Fairview St Anderson, IN	3.0	1.5	1452	$1,195	$0.82	24d	1	0.68mi
2203 W 28th St Anderson, IN	3.0	1.0	1068	$1,000	$0.94	44d	1	0.69mi
2705 Horton Dr Anderson, IN	3.0	1.0	936	$1,050	$1.12	21d	1	0.74mi
2442 Morton St Anderson, IN	2.0	1.0	862	$1,125	$1.31	24d	1	0.82mi
229 W 19th St Anderson, IN	3.0	1.0	1200	$1,000	$0.83	44d	1	0.88mi
1631 W 7th St Anderson, IN	3.0	1.0	900	$1,000	$1.11	44d	1	0.89mi
2820 Fairview St Unit A Anderson, IN	2.0	1.0	850	$895	$1.05	44d	1	0.89mi
2324 Chase St Anderson, IN	2.0	1.0	783	$950	$1.21	44d	1	0.90mi
1312 W 8th St Unit 1332 F Anderson, IN	2.0	1.0	850	$979	$1.15	44d	1	0.92mi
2627 Chase St Anderson, IN	3.0	1.0	1050	$850	$0.81	18d	1	0.97mi
2904 Lincoln St Anderson, IN	2.0	1.0	864	$900	$1.04	44d	1	1.01mi
820 W 7th St Apt A Anderson, IN	2.0	2.0	1400	$1,200	$0.86	24d	1	1.06mi
1212 W 5th St Anderson, IN	3.0	1.0	1252	$1,295	$1.03	13d	1	1.07mi
1708 Euclid Dr Anderson, IN	2.0	1.0	732	$1,225	$1.67	44d	1	1.19mi
3021 Delaware St Anderson, IN	2.0	1.0	1154	$1,150	$1.00	8d	1	1.19mi
1529 W 2nd St Anderson, IN	3.0	1.0	884	$1,200	$1.36	24d	1	1.20mi
120 W 10th St Anderson, IN	1.0–3.0	1.0	1066	$1,150	$1.08	2d	1	1.21mi
2111 Central Ave Anderson, IN	3.0	1.0	1026	$1,250	$1.22	44d	1	1.22mi
1317 Main St Anderson, IN	2.0	1.0	750	$800	$1.07	44d	1	1.23mi
2625 Main St Anderson, IN	2.0	1.0	988	$895	$0.91	24d	1	1.25mi
2916 W 12th St Anderson, IN	3.0	1.0	1271	$1,295	$1.02	44d	1	1.25mi
1010 W 2nd St Unit 3 Anderson, IN	3.0	1.0	1025	$1,125	$1.10	15d	1	1.30mi
1010 W 2nd St Unit 2 Anderson, IN	2.0	1.0	875	$1,025	$1.17	22d	1	1.30mi
219 E 13th St Anderson, IN	3.0	1.0	882	$1,000	$1.13	4d	1	1.36mi

Listing history 31 events

1. 2026-06-18
   days on market $89,000 Active 98 DOM
2. 2026-06-17
   days on market $89,000 Active 97 DOM
3. 2026-06-16
   days on market $89,000 Active 96 DOM
4. 2026-06-15
   days on market $89,000 Active 95 DOM
5. 2026-06-13
   pricedays on market $89,000 Active 93 DOM
6. 2026-06-09
   days on market $89,999 Active 89 DOM
7. 2026-06-08
   days on market $89,999 Active 88 DOM
8. 2026-06-07
   days on market $89,999 Active 87 DOM
9. 2026-06-05
   days on market $89,999 Active 84 DOM
10. 2026-06-03
    days on market $89,999 Active 83 DOM
11. 2026-06-02
    days on market $89,999 Active 82 DOM
12. 2026-06-01
    days on market $89,999 Active 81 DOM
13. 2026-05-31
    days on market $89,999 Active 80 DOM
14. 2026-04-17
    price $89,999 254-char remark

    Show marketing remark (254 chars)

    Prime investment opportunity on the West end of Anderson! This recently remodeled home has 3 bedrooms, 2 bathrooms, & a 2-car detached garage! Currently occupied with great long-term tenants at $1,100 monthly. Add this to your asset portfolio today!!

15. 2026-03-10
    listed $92,900 Active 254-char remark

    Show marketing remark (254 chars)

    Prime investment opportunity on the West end of Anderson! This recently remodeled home has 3 bedrooms, 2 bathrooms, & a 2-car detached garage! Currently occupied with great long-term tenants at $1,100 monthly. Add this to your asset portfolio today!!

16. 2023-12-06
    historical $1,100
17. 2023-11-04
    listed $1,100
18. 2017-12-20
    soldstatus $8,000 Sold 75-char remark

    Show marketing remark (75 chars)

    3 bedroom bungalow, 1 bath, eat-in kitchen, formal dining and living rooms.

19. 2017-12-20
    soldstatus $8,000

    Show marketing remark (75 chars)

    3 bedroom bungalow, 1 bath, eat-in kitchen, formal dining and living rooms.

20. 2017-11-29
    status Pending 75-char remark

    Show marketing remark (75 chars)

    3 bedroom bungalow, 1 bath, eat-in kitchen, formal dining and living rooms.

21. 2017-11-15
    price $6,500 75-char remark

    Show marketing remark (75 chars)

    3 bedroom bungalow, 1 bath, eat-in kitchen, formal dining and living rooms.

22. 2017-11-14
    status Active 75-char remark

    Show marketing remark (75 chars)

    3 bedroom bungalow, 1 bath, eat-in kitchen, formal dining and living rooms.

23. 2017-10-12
    status Pending 75-char remark

    Show marketing remark (75 chars)

    3 bedroom bungalow, 1 bath, eat-in kitchen, formal dining and living rooms.

24. 2017-09-29
    status Active 75-char remark

    Show marketing remark (75 chars)

    3 bedroom bungalow, 1 bath, eat-in kitchen, formal dining and living rooms.

25. 2017-09-25
    historical 75-char remark

    Show marketing remark (75 chars)

    3 bedroom bungalow, 1 bath, eat-in kitchen, formal dining and living rooms.

26. 2017-09-20
    price $7,500 75-char remark

    Show marketing remark (75 chars)

    3 bedroom bungalow, 1 bath, eat-in kitchen, formal dining and living rooms.

27. 2017-08-28
    price $9,000 75-char remark

    Show marketing remark (75 chars)

    3 bedroom bungalow, 1 bath, eat-in kitchen, formal dining and living rooms.

28. 2017-08-08
    status Active 75-char remark

    Show marketing remark (75 chars)

    3 bedroom bungalow, 1 bath, eat-in kitchen, formal dining and living rooms.

29. 2017-07-21
    historical 75-char remark

    Show marketing remark (75 chars)

    3 bedroom bungalow, 1 bath, eat-in kitchen, formal dining and living rooms.

30. 2017-07-11
    listed $10,000 Active 75-char remark

    Show marketing remark (75 chars)

    3 bedroom bungalow, 1 bath, eat-in kitchen, formal dining and living rooms.

31. 2017-07-06
    listed $6,500

ⓘ 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: $1,158 · $96/mo
• Projected year-2 tax: $1,158 · $96/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: $12,855
• − Mortgage interest: −$4,985
• − Property taxes: −$1,158
• − Insurance: −$445
• − Repairs & maintenance: −$1,028
• − Management: −$1,028
• − Depreciation: −$2,589
• Taxable income: $1,621
• Est. tax owed @ 24.0%: −$389
• After-tax cash flow: $2,563/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

+1284.6% since first listed

18 events — show timeline

• 2026-04-17 Price Changed $89,999 MIBOR as Distributed by MLS Grid
• 2026-03-10 Listed $92,900 MIBOR as Distributed by MLS Grid
• 2023-12-06 Rental Removed $1,100 TURBOTENANT
• 2023-11-04 Listed for Rent $1,100 TURBOTENANT
• 2017-12-20 Sold (MLS) $8,000 IRMLS
• 2017-12-20 Sold (MLS) $8,000 MIBOR as Distributed by MLS Grid
• 2017-11-29 Pending — MIBOR as Distributed by MLS Grid
• 2017-11-15 Price Changed $6,500 MIBOR as Distributed by MLS Grid
• 2017-11-14 Relisted — MIBOR as Distributed by MLS Grid
• 2017-10-12 Pending — MIBOR as Distributed by MLS Grid
• 2017-09-29 Relisted — MIBOR as Distributed by MLS Grid
• 2017-09-25 Listing Removed — MIBOR as Distributed by MLS Grid
• 2017-09-20 Price Changed $7,500 MIBOR as Distributed by MLS Grid
• 2017-08-28 Price Changed $9,000 MIBOR as Distributed by MLS Grid
• 2017-08-08 Relisted — MIBOR as Distributed by MLS Grid
• 2017-07-21 Listing Removed — MIBOR as Distributed by MLS Grid
• 2017-07-11 Listed $10,000 MIBOR as Distributed by MLS Grid
• 2017-07-06 Listed $6,500 IRMLS

Property tax history

+5.4%/yr

Latest (2024): $1,158 · +9.0% YoY. Source: county tax records.