915 Woodlawn Dr · Anderson, IN 46012

$78,400

2 bd · 1.0 ba · 1,274 sqft · SingleFamily public records · 24 Days on market

Built 1940 9,750 sqft lot $62/sqft · 40% below area Est $150k · 48% 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 +8.3/10.0
• 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

HUD HOME - NO APPT NECESSARY - PROPERTY SOLD IN AS-IS CONDITION. FOR MORE INFORMATION AND AVAILABILITY, PLEASE SEE THE WEB ADDRESS LISTED IN AGENT REMARKS OR SPEAK WITH YOUR REAL ESTATE AGENT. ALL INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED. CASE NUMBER 151-611601 NOTES: Repair ceilings and walls; Evidence of wood destroying organism damage to living room hardwood floors, joists/sill/header in basement, shed and garage.

Key facts

• 9,750 sq ft lot
• Garage
• Built 1940

Property features AI

Exterior

• Parking: Detached garage (264 sq ft)
• Utilities: Public water; Municipal sewer connected; No solid waste service listed
• Home design: Single-family residence; One level
• Construction: Vinyl siding; Block foundation
• Exterior features: Less than 1/4 acre lot; 0.22-acre lot

Interior

• Kitchen: Gas oven; Microwave with hood; Refrigerator
• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 1 full bathroom (on the main level)
• Heating & cooling: Forced-air heating (natural gas); No central air
• Interior features: Attic access; Eat-in kitchen
• Laundry & utility: Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $78k.

Deal economics

• At list price, monthly cash flow is $296 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• Recommended offer: $77k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.8% 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; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $542 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 + 1.8% rent growth), your $22k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 26y 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 $14k; list at $78k implies a 460% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,224 (1.5% below list)

Questions for the listing agent

1. Built in 1940 — 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: 1.33% ✓
• Cap rate: 10.83%
• Cash-on-cash: 16.20%
• DSCR: 1.72
• GRM: 6.3

CMA / ARV

• ARV (median comp): $149,796
• List price: $78,400
• Delta: -47.66%
• 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
2353 E 10th St	0.50mi	2/1.0	1,280 (+0%)	12mo	$155,000	$121	66
521 Woodlawn Dr	0.26mi	3/1.0 (+1)	1,178 (-8%)	6mo	$153,000	$130	65
3013 E 7th St	0.23mi	3/1.5 (+1)	1,322 (+4%)	13mo	$220,000	$166	65
3518 River Bluff Rd	0.65mi	3/1.5 (+1)	1,260 (-1%)	1mo	$200,000	$159	60
2216 E 6th St	0.63mi	2/1.0	1,337 (+5%)	7mo	$115,000	$86	57
2927 E 8th St	0.15mi	3/1.5 (+1)	1,431 (+12%)	11mo	$190,000	$133	56
1507 Lynnwood Dr	0.45mi	2/1.5	1,189 (-7%)	13mo	$185,000	$156	55
1520 Chesterfield Dr	0.42mi	3/1.5 (+1)	1,159 (-9%)	5mo	$167,000	$144	54
1521 Daleville Ave	0.52mi	3/1.5 (+1)	1,183 (-7%)	4mo	$170,000	$144	54
612 Woodlawn Dr	0.17mi	3/2.0 (+1)	1,117 (-12%)	12mo	$114,900	$103	52
213 S Coventry Dr	0.54mi	3/1.5 (+1)	1,125 (-12%)	11mo	$176,000	$156	39
3504 White River Ct	0.63mi	3/1.0 (+1)	1,118 (-12%)	10mo	$190,000	$170	37

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: 5.9%
• Equity multiple: 1.23×
• Total profit: $4,953
• Equity at exit: $11,690

10-year hold

• IRR: 14.2%
• Equity multiple: 2.08×
• Total profit: $23,740
• Equity at exit: $6,779

Cash invested: $21,952 (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: 6.3×

Monthly cashflow live

• Estimated rent: $1,044 high
• Mortgage (P&I): −$411
• Tax from tax record: −$84 /mo · $1,011/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $296

Break-even live

Break-even rent $668

Max offer price $78,400

Occupancy floor 67%

Sensitivity live

Price	-10% $341	-5% $319	+0% $296	+5% $274	+10% $252
Rent	-10% $214	-5% $255	+0% $296	+5% $338	+10% $379
Rate	-1.0pp $336	-0.5pp $316	base $296	+0.5pp $276	+1.0pp $255

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: $19,600
• Closing costs: $2,352
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2505 E 10th St Anderson, IN	1.0–2.0	1.0	850	$949	$1.12	44d	2	0.41mi
530 Alhambra Dr Anderson, IN	1.0–2.0	1.0	879	$1,100	$1.25	44d	1	0.79mi
1045 Alhambra Dr Unit 6 Anderson, IN	2.0	1.5	900	$975	$1.08	24d	1	0.83mi
1829 E 8th St Anderson, IN	1.0–3.0	1.0	810	$1,025	$1.27	24d	9	0.85mi
1023 E 8th St Unit 3 Anderson, IN	2.0	1.5	1200	$1,175	$0.98	8d	1	1.39mi

Listing history 8 events

1. 2026-05-08
   price $78,400 598-char remark
2. 2026-04-27
   listed $79,900 Active 598-char remark
3. 2010-08-04
   historical 432-char remark

   Show marketing remark (432 chars)

   HUD HOME - NO APPT NECESSARY - PROPERTY SOLD IN AS-IS CONDITION. FOR MORE INFORMATION AND AVAILABILITY, PLEASE SEE THE WEB ADDRESS LISTED IN AGENT REMARKS OR SPEAK WITH YOUR REAL ESTATE AGENT. ALL INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED. CASE NUMBER 151-611601 NOTES: Repair ceilings and walls; Evidence of wood destroying organism damage to living room hardwood floors, joists/sill/header in basement, shed and garage.

4. 2010-07-02
   soldstatus $14,000 432-char remark

   Show marketing remark (432 chars)

   HUD HOME - NO APPT NECESSARY - PROPERTY SOLD IN AS-IS CONDITION. FOR MORE INFORMATION AND AVAILABILITY, PLEASE SEE THE WEB ADDRESS LISTED IN AGENT REMARKS OR SPEAK WITH YOUR REAL ESTATE AGENT. ALL INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED. CASE NUMBER 151-611601 NOTES: Repair ceilings and walls; Evidence of wood destroying organism damage to living room hardwood floors, joists/sill/header in basement, shed and garage.

5. 2010-04-23
   listed $15,000 432-char remark

   Show marketing remark (432 chars)

   HUD HOME - NO APPT NECESSARY - PROPERTY SOLD IN AS-IS CONDITION. FOR MORE INFORMATION AND AVAILABILITY, PLEASE SEE THE WEB ADDRESS LISTED IN AGENT REMARKS OR SPEAK WITH YOUR REAL ESTATE AGENT. ALL INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED. CASE NUMBER 151-611601 NOTES: Repair ceilings and walls; Evidence of wood destroying organism damage to living room hardwood floors, joists/sill/header in basement, shed and garage.

6. 2010-02-22
   soldstatus $60,849
7. 2000-09-22
   soldstatus $59,900

   Show marketing remark (190 chars)

   ALL NEWER REPLACEMENT WINDOWS, GFA, C/A & ROOF * BASEMENT WATERPROOFED * UPSTAIRS DORMER AREA COULD BE 3RD BEDROOM * EAST SIDE LOCATION * MAINTENANCE FREE EXTERIOR. POSSESSION: 30 DAC.

8. 2000-08-04
   listed $59,900

   Show marketing remark (190 chars)

   ALL NEWER REPLACEMENT WINDOWS, GFA, C/A & ROOF * BASEMENT WATERPROOFED * UPSTAIRS DORMER AREA COULD BE 3RD BEDROOM * EAST SIDE LOCATION * MAINTENANCE FREE EXTERIOR. POSSESSION: 30 DAC.

ⓘ 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: $1,011 · $84/mo
• Projected year-2 tax: $1,011 · $84/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 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,523
• − Mortgage interest: −$4,392
• − Property taxes: −$1,011
• − Insurance: −$392
• − Repairs & maintenance: −$1,002
• − Management: −$1,002
• − Depreciation: −$2,281
• Taxable income: $2,444
• Est. tax owed @ 24.0%: −$586
• After-tax cash flow: $2,970/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

+30.9% since first listed

9 events — show timeline

• 2026-05-22 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-08 Price Changed $78,400 MIBOR as Distributed by MLS Grid
• 2026-04-27 Listed $79,900 MIBOR as Distributed by MLS Grid
• 2010-08-04 Listing Removed — MIBOR as Distributed by MLS Grid
• 2010-07-02 Sold (MLS) $14,000 MIBOR as Distributed by MLS Grid
• 2010-04-23 Listed $15,000 MIBOR as Distributed by MLS Grid
• 2010-02-22 Sold (Public Records) $60,849 Public Records
• 2000-09-22 Sold (MLS) $59,900 MIBOR as Distributed by MLS Grid
• 2000-08-04 Listed $59,900 MIBOR as Distributed by MLS Grid

Property tax history

+4.5%/yr

Latest (2024): $1,011 · +7.8% YoY. Source: county tax records.