1324 W 1st St · Anderson, IN 46016

$75,000

2 bd · 1.0 ba · 2,344 sqft · SingleFamily public records · 1 Days on market

Built 1963 0.30 ac lot Est $143k · 48% under ↓ 17% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Rent growth +4.5/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Large single family home located close to local amenities. This property has a large garage, 4 large bedrooms, formal dining room, galley style kitchen, family room with built ins, and a living room.

Key facts

• Hot tub
• Walkin safe
• Built-in shelving

Tags

• BUILT-IN SHELVING
• OVERSIZED GARAGE
• CAR LIFT
• HOT TUB
• WALKIN SAFE

Property features AI

Finance

• Other: Approximately 0.3 acre lot

Exterior

• Parking: Attached 4-car garage
• Utilities: Public water; Municipal sewer connected; Electrical service with circuit breakers
• Home design: Single-family residence; One and two levels
• Construction: Block construction; Crawl space foundation
• Exterior features: Private spa

Interior

• Kitchen: Electric oven; Refrigerator
• Bedrooms: Four bedrooms total — one on the main level and three on the upper level
• Bathrooms: One full bathroom (main level)
• Heating & cooling: No central heating listed (wood stove present); No central cooling
• Interior features: Attic access; Wood stove
• Laundry & utility: Laundry closet

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $31 ($375/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Cap rate 13.6% 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; 4 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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).
• This rent runs 39% 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 $519 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 + 7.9% rent growth), your $21k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 24y 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 $33k; list at $75k implies a 127% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $75,000

Questions for the listing agent

1. Built in 1963 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.55% ✓
• Cap rate: 13.62%
• Cash-on-cash: 26.16%
• DSCR: 2.16
• GRM: 5.4

CMA / ARV

• ARV (on-the-fly): $142,984
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1428 W 4th St	0.22mi	2/1.0	2,092 (-11%)	8mo	$45,000	$22	66
311 Northshore Blvd	0.52mi	2/1.0	2,339 (-0%)	12mo	$195,000	$83	66
820 W 5th St	0.43mi	3/1.5 (+1)	2,220 (-5%)	0mo	$49,000	$22	64
1419 W 5th St	0.30mi	3/1.5 (+1)	2,102 (-10%)	0mo	$58,000	$28	62
1321 Greenway Dr	0.57mi	3/2.5 (+1)	2,365 (+1%)	2mo	$295,000	$125	59
911 W 3rd St	0.32mi	3/1.0 (+1)	2,492 (+6%)	12mo	$51,000	$20	59
2011 Sheffield Ave	0.52mi	3/2.0 (+1)	2,304 (-2%)	13mo	$185,000	$80	53
917 W 8th St	0.57mi	3/2.5 (+1)	2,370 (+1%)	11mo	$92,000	$39	52
1101 Forest Dr	0.74mi	2/2.0	2,232 (-5%)	3mo	$195,000	$87	51
1717 W 10th St	0.71mi	3/1.0 (+1)	2,580 (+10%)	10mo	$158,000	$61	37
2208 Van Buskirk Rd	0.73mi	3/1.0 (+1)	2,628 (+12%)	7mo	$199,900	$76	34
316 W 6th St	0.74mi	3/3.0 (+1)	2,543 (+8%)	12mo	$90,000	$35	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: -4.6%
• Equity multiple: 0.81×
• Total profit: $-3,929
• Equity at exit: $11,183

10-year hold

• IRR: 12.2%
• Equity multiple: 2.30×
• Total profit: $27,334
• Equity at exit: $6,485

Cash invested: $21,000 (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: 5.4×

Monthly cashflow live

• Estimated rent: $1,163 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$37 /mo · $438/yr
• Insurance: −$31
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $31

Break-even live

Break-even rent $1,124

Max offer price $75,000

Occupancy floor 92%

Sensitivity live

Price	-10% $74	-5% $52	+0% $31	+5% $10	+10% $-11
Rent	-10% $-61	-5% $-15	+0% $31	+5% $77	+10% $123
Rate	-1.0pp $69	-0.5pp $50	base $31	+0.5pp $12	+1.0pp $-8

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
510 W 5th St Anderson, IN	3.0	1.5	1617	$995	$0.62	44d	1	0.58mi
921 W 9th St Anderson, IN	3.0	2.0	1611	$1,375	$0.85	24d	1	0.62mi
1121 Victory Ct Anderson, IN	3.0	1.0	2053	$1,295	$0.63	22d	1	0.74mi
521 W Vinyard St Anderson, IN	3.0	2.0	1712	$1,495	$0.87	17d	1	1.14mi

Listing history 2 events

1. 2026-06-19
   remarks 699-char remark
2. 2026-06-19
   listed $75,000 Active 1 DOM

ⓘ 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: $438 · $37/mo
• Projected year-2 tax: $538 · $45/mo
• Expected delta: +$100/yr (+$8/mo · 22.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 9/10 Extreme FEMA zone AE · 99% 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
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,957
• − Mortgage interest: −$4,201
• − Property taxes: −$438
• − Insurance: −$5,494
• − Repairs & maintenance: −$1,117
• − Management: −$1,117
• − Depreciation: −$2,182
• Taxable loss: −$591
• Est. tax savings @ 24.0%: +$142
• After-tax cash flow: $516/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

-16.6% since first listed

11 events — show timeline

• 2026-06-18 Listed $75,000 MIBOR as Distributed by MLS Grid
• 2018-10-26 Sold (MLS) $33,000 IRMLS
• 2018-10-26 Sold (MLS) $33,000 MIBOR as Distributed by MLS Grid
• 2018-10-15 Pending — MIBOR as Distributed by MLS Grid
• 2018-09-27 Price Changed $39,900 MIBOR as Distributed by MLS Grid
• 2018-08-31 Price Changed $44,900 MIBOR as Distributed by MLS Grid
• 2018-08-03 Listed $47,000 MIBOR as Distributed by MLS Grid
• 2018-08-02 Listed $39,900 IRMLS
• 2018-03-26 Sold (Public Records) $13,300 Public Records
• 2002-08-20 Listing Removed — MIBOR as Distributed by MLS Grid
• 2002-05-24 Listed $89,900 MIBOR as Distributed by MLS Grid

Property tax history

-0.1%/yr

Latest (2024): $438 · +2.8% YoY. Source: county tax records.