908 Cottage Ave · Anderson, IN 46012

$110,000

3 bd · 1.5 ba · 2,404 sqft · SingleFamily public records · 88 Days on market

Built 1895 8,308 sqft lot $46/sqft · 26% below area Est $148k · 26% 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 +26.5/30.0
• ARV discount +15.0/15.0
• DSCR +9.0/10.0
• 1% rule +6.6/10.0
• 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

Located at 908 Cottage AVE in ANDERSON, IN, USA, this single-family residence presents an inviting home, thoroughly prepared for those ready to embrace a distinctive living experience. Among the four bedrooms, one particular space distinguishes itself with a striking wood wall, imparting a unique sense of character and warmth within its confines. This two-story residence, built in 1895, encompasses 1909 square feet of living area, thoughtfully arranged to include two full bathrooms and four comfortable bedrooms. Outside, the property extends to an 8308 square foot lot, which includes a deck perfect for enjoying the outdoors and a private fenced backyard, offering an ideal setting for relaxation. This distinctive single family residence offers a compelling opportunity for a fulfilling lifestyle.

Key facts

• Deck
• Wood wall
• 8,308 sq ft lot

Tags

• WOOD WALL
• DECK
• PRIVATE FENCED BACKYARD

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 $761 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.

Negotiation context

• It's been on market 88 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y 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 $88k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $103,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 88 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1895 — 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: 1.16% ✓
• Cap rate: 9.46%
• Cash-on-cash: 11.32%
• DSCR: 1.50
• GRM: 7.2

CMA / ARV

• ARV (median comp): $147,857
• List price: $110,000
• Delta: -25.60%
• 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
814 Walnut St	0.13mi	3/1.5	2,329 (-3%)	12mo	$160,000	$69	79
1007 Chestnut St	0.18mi	3/1.5	2,239 (-7%)	5mo	$150,000	$67	76
712 Cottage Ave	0.12mi	3/2.0	2,619 (+9%)	7mo	$105,000	$40	72
901 Fremont Dr	0.40mi	2/1.5 (-1)	2,522 (+5%)	6mo	$200,000	$79	63
919 Walnut St	0.10mi	3/2.0	2,086 (-13%)	15mo	$110,000	$53	59
1606 E 7th St	0.53mi	3/2.0	2,252 (-6%)	9mo	$230,000	$102	56
615 Milton Ave	0.31mi	4/2.5 (+1)	2,136 (-11%)	10mo	$157,000	$74	50
1803 E 10th St	0.57mi	4/2.0 (+1)	2,678 (+11%)	3mo	$165,000	$62	45
917 Harvey St	0.63mi	4/3.0 (+1)	2,546 (+6%)	6mo	$259,900	$102	45
802 Maplewood Ave	0.61mi	3/2.5	2,098 (-13%)	5mo	$215,000	$102	42
720 Maplewood Ave	0.61mi	3/2.0	2,064 (-14%)	6mo	$175,000	$85	41
806 Maplewood Ave	0.61mi	4/2.0 (+1)	2,179 (-9%)	12mo	$265,000	$122	39

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: -0.7%
• Equity multiple: 0.97×
• Total profit: $-827
• Equity at exit: $16,401

10-year hold

• IRR: 7.7%
• Equity multiple: 1.55×
• Total profit: $17,069
• Equity at exit: $9,511

Cash invested: $30,800 (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: 7.2×

Monthly cashflow live

• Estimated rent: $1,280 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$98 /mo · $1,171/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $291

Break-even live

Break-even rent $912

Max offer price $110,000

Occupancy floor 72%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 4 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	0.63mi
510 W 5th St Anderson, IN	3.0	1.5	1617	$995	$0.62	43d	1	1.02mi
921 W 9th St Anderson, IN	3.0	2.0	1611	$1,375	$0.85	23d	1	1.22mi
2626 Main St Anderson, IN	3.0	2.0	3366	$1,200	$0.36	23d	1	1.31mi

Listing history 14 events

1. 2026-03-17
   status Active 807-char remark

   Show marketing remark (807 chars)

   Located at 908 Cottage AVE in ANDERSON, IN, USA, this single-family residence presents an inviting home, thoroughly prepared for those ready to embrace a distinctive living experience. Among the four bedrooms, one particular space distinguishes itself with a striking wood wall, imparting a unique sense of character and warmth within its confines. This two-story residence, built in 1895, encompasses 1909 square feet of living area, thoughtfully arranged to include two full bathrooms and four comfortable bedrooms. Outside, the property extends to an 8308 square foot lot, which includes a deck perfect for enjoying the outdoors and a private fenced backyard, offering an ideal setting for relaxation. This distinctive single family residence offers a compelling opportunity for a fulfilling lifestyle.

2. 2026-02-23
   status Pending 807-char remark

   Show marketing remark (807 chars)

   Located at 908 Cottage AVE in ANDERSON, IN, USA, this single-family residence presents an inviting home, thoroughly prepared for those ready to embrace a distinctive living experience. Among the four bedrooms, one particular space distinguishes itself with a striking wood wall, imparting a unique sense of character and warmth within its confines. This two-story residence, built in 1895, encompasses 1909 square feet of living area, thoughtfully arranged to include two full bathrooms and four comfortable bedrooms. Outside, the property extends to an 8308 square foot lot, which includes a deck perfect for enjoying the outdoors and a private fenced backyard, offering an ideal setting for relaxation. This distinctive single family residence offers a compelling opportunity for a fulfilling lifestyle.

3. 2026-02-09
   listed $110,000 Active 807-char remark

   Show marketing remark (807 chars)

   Located at 908 Cottage AVE in ANDERSON, IN, USA, this single-family residence presents an inviting home, thoroughly prepared for those ready to embrace a distinctive living experience. Among the four bedrooms, one particular space distinguishes itself with a striking wood wall, imparting a unique sense of character and warmth within its confines. This two-story residence, built in 1895, encompasses 1909 square feet of living area, thoughtfully arranged to include two full bathrooms and four comfortable bedrooms. Outside, the property extends to an 8308 square foot lot, which includes a deck perfect for enjoying the outdoors and a private fenced backyard, offering an ideal setting for relaxation. This distinctive single family residence offers a compelling opportunity for a fulfilling lifestyle.

4. 2023-10-30
   soldstatus $87,900 Closed 644-char remark

   Show marketing remark (644 chars)

   So Much Room!!! This spacious home welcomes you into the bright sunroom that overlooks the front yard and beautiful flower beds. The living room features a bay window and hardwood floors then leads into a large dinning room. The master bedroom is located on the main floor and has a walk in closet, office, and jack and jill bathroom that it shares with Bedroom 2. There are 2 Additional bedrooms located upstairs. There is a fully fenced backyard has a great deck, raised flower bed, fire pit, garden shed, and a 2 car detached garage. Home is conveniently located near Anderson University, Downtown, shopping, restaurants, and several parks.

5. 2023-09-29
   status Pending 644-char remark

   Show marketing remark (644 chars)

   So Much Room!!! This spacious home welcomes you into the bright sunroom that overlooks the front yard and beautiful flower beds. The living room features a bay window and hardwood floors then leads into a large dinning room. The master bedroom is located on the main floor and has a walk in closet, office, and jack and jill bathroom that it shares with Bedroom 2. There are 2 Additional bedrooms located upstairs. There is a fully fenced backyard has a great deck, raised flower bed, fire pit, garden shed, and a 2 car detached garage. Home is conveniently located near Anderson University, Downtown, shopping, restaurants, and several parks.

6. 2023-09-02
   price $87,900 644-char remark

   Show marketing remark (644 chars)

   So Much Room!!! This spacious home welcomes you into the bright sunroom that overlooks the front yard and beautiful flower beds. The living room features a bay window and hardwood floors then leads into a large dinning room. The master bedroom is located on the main floor and has a walk in closet, office, and jack and jill bathroom that it shares with Bedroom 2. There are 2 Additional bedrooms located upstairs. There is a fully fenced backyard has a great deck, raised flower bed, fire pit, garden shed, and a 2 car detached garage. Home is conveniently located near Anderson University, Downtown, shopping, restaurants, and several parks.

7. 2023-08-11
   price $99,900 644-char remark

   Show marketing remark (644 chars)

   So Much Room!!! This spacious home welcomes you into the bright sunroom that overlooks the front yard and beautiful flower beds. The living room features a bay window and hardwood floors then leads into a large dinning room. The master bedroom is located on the main floor and has a walk in closet, office, and jack and jill bathroom that it shares with Bedroom 2. There are 2 Additional bedrooms located upstairs. There is a fully fenced backyard has a great deck, raised flower bed, fire pit, garden shed, and a 2 car detached garage. Home is conveniently located near Anderson University, Downtown, shopping, restaurants, and several parks.

8. 2023-08-08
   price $104,900 644-char remark

   Show marketing remark (644 chars)

   So Much Room!!! This spacious home welcomes you into the bright sunroom that overlooks the front yard and beautiful flower beds. The living room features a bay window and hardwood floors then leads into a large dinning room. The master bedroom is located on the main floor and has a walk in closet, office, and jack and jill bathroom that it shares with Bedroom 2. There are 2 Additional bedrooms located upstairs. There is a fully fenced backyard has a great deck, raised flower bed, fire pit, garden shed, and a 2 car detached garage. Home is conveniently located near Anderson University, Downtown, shopping, restaurants, and several parks.

9. 2023-08-06
   status Active 644-char remark

   Show marketing remark (644 chars)

   So Much Room!!! This spacious home welcomes you into the bright sunroom that overlooks the front yard and beautiful flower beds. The living room features a bay window and hardwood floors then leads into a large dinning room. The master bedroom is located on the main floor and has a walk in closet, office, and jack and jill bathroom that it shares with Bedroom 2. There are 2 Additional bedrooms located upstairs. There is a fully fenced backyard has a great deck, raised flower bed, fire pit, garden shed, and a 2 car detached garage. Home is conveniently located near Anderson University, Downtown, shopping, restaurants, and several parks.

10. 2023-07-27
    status Pending 644-char remark

    Show marketing remark (644 chars)

    So Much Room!!! This spacious home welcomes you into the bright sunroom that overlooks the front yard and beautiful flower beds. The living room features a bay window and hardwood floors then leads into a large dinning room. The master bedroom is located on the main floor and has a walk in closet, office, and jack and jill bathroom that it shares with Bedroom 2. There are 2 Additional bedrooms located upstairs. There is a fully fenced backyard has a great deck, raised flower bed, fire pit, garden shed, and a 2 car detached garage. Home is conveniently located near Anderson University, Downtown, shopping, restaurants, and several parks.

11. 2023-07-21
    listed $109,900 Active 644-char remark

    Show marketing remark (644 chars)

    So Much Room!!! This spacious home welcomes you into the bright sunroom that overlooks the front yard and beautiful flower beds. The living room features a bay window and hardwood floors then leads into a large dinning room. The master bedroom is located on the main floor and has a walk in closet, office, and jack and jill bathroom that it shares with Bedroom 2. There are 2 Additional bedrooms located upstairs. There is a fully fenced backyard has a great deck, raised flower bed, fire pit, garden shed, and a 2 car detached garage. Home is conveniently located near Anderson University, Downtown, shopping, restaurants, and several parks.

12. 2022-09-26
    soldstatus $60,000 Closed
13. 2022-09-12
    status Pending
14. 2022-09-07
    listed $65,000 Active

ⓘ 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: $1,171 · $98/mo
• Projected year-2 tax: $1,171 · $98/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 5/10 Major FEMA zone X (shaded) · 27% 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: $15,354
• − Mortgage interest: −$6,162
• − Property taxes: −$1,171
• − Insurance: −$550
• − Repairs & maintenance: −$1,228
• − Management: −$1,228
• − Depreciation: −$3,200
• Taxable income: $1,815
• Est. tax owed @ 24.0%: −$436
• After-tax cash flow: $3,051/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

+69.2% since first listed

14 events — show timeline

• 2026-03-17 Relisted — MIBOR as Distributed by MLS Grid
• 2026-02-23 Pending — MIBOR as Distributed by MLS Grid
• 2026-02-09 Listed $110,000 MIBOR as Distributed by MLS Grid
• 2023-10-30 Sold (MLS) $87,900 MIBOR as Distributed by MLS Grid
• 2023-09-29 Pending — MIBOR as Distributed by MLS Grid
• 2023-09-02 Price Changed $87,900 MIBOR as Distributed by MLS Grid
• 2023-08-11 Price Changed $99,900 MIBOR as Distributed by MLS Grid
• 2023-08-08 Price Changed $104,900 MIBOR as Distributed by MLS Grid
• 2023-08-06 Relisted — MIBOR as Distributed by MLS Grid
• 2023-07-27 Pending — MIBOR as Distributed by MLS Grid
• 2023-07-21 Listed $109,900 MIBOR as Distributed by MLS Grid
• 2022-09-26 Sold (MLS) $60,000 MIBOR as Distributed by MLS Grid
• 2022-09-12 Pending — MIBOR as Distributed by MLS Grid
• 2022-09-07 Listed $65,000 MIBOR as Distributed by MLS Grid

Property tax history

+2.9%/yr

Latest (2024): $1,171 · +10.3% YoY. Source: county tax records.