1512 Walton St · Anderson, IN 46016

$29,900

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 33 Days on market

Built 1950 5,334 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Key facts

• 5,334 sq ft lot
• 2 garage spots
• Built 1950

Property features AI

Finance

• Other: Property listed as fixer condition

Exterior

• Parking: Detached 2-car garage (approximately 540 sq ft)
• Utilities: Public water; Municipal sewer connected; No solid waste service listed
• Home design: Single-family residence; One story
• Construction: Aluminum siding; Block foundation
• Exterior features: Lot under 1/4 acre (approximately 0.12 acre)

Interior

• Kitchen: No appliances included
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; No central air
• Interior features: Attic access; Unfinished basement
• Laundry & utility: Utility room in basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $30k.

Deal economics

• At list price, monthly cash flow is $449 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($848 rent vs $30k).
• Recommended offer: $29k (3.0% below list) — sets the bar for market timing.
• Cap rate 24.3% 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); 188 active listings in the ZIP; 27 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 52% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $897 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 $8k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($29k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $29,003 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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: 2.83% ✓
• Cap rate: 24.32%
• Cash-on-cash: 64.38%
• DSCR: 3.86
• GRM: 2.9

CMA / ARV

• ARV (on-the-fly): $82,800
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1516 Fulton St	0.06mi	2/1.0	720 (0%)	3mo	$63,500	$88	94
1812 Halford St	0.24mi	2/1.0	720 (0%)	3mo	$50,000	$69	86
2308 W 16th St	0.10mi	2/1.0	756 (+5%)	3mo	$91,500	$121	84
1827 Fulton St	0.24mi	2/1.0	668 (-7%)	4mo	$94,900	$142	73
2310 Halford St	0.58mi	2/2.0	744 (+3%)	2mo	$150,000	$202	62
1402 Walton St	0.09mi	2/1.0	820 (+14%)	16mo	$40,000	$49	60
1902 Dewey St	0.26mi	2/1.0	672 (-7%)	23mo	$77,500	$115	58
2241 Nelle St	0.55mi	2/1.0	796 (+11%)	4mo	$66,500	$84	53
2312 Fulton St	0.59mi	3/1.0 (+1)	650 (-10%)	10mo	$35,000	$54	43
1640 W 7th St	0.68mi	2/1.0	810 (+12%)	12mo	$98,500	$122	38

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: 69.1%
• Equity multiple: 4.36×
• Total profit: $28,149
• Equity at exit: $4,458

10-year hold

• IRR: 74.7%
• Equity multiple: 10.71×
• Total profit: $81,256
• Equity at exit: $2,585

Cash invested: $8,372 (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: 188
• Price-to-rent: 2.9×

Monthly cashflow live

• Estimated rent: $848 high
• Mortgage (P&I): −$157
• Tax from tax record: −$51 /mo · $613/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$178
• Net cashflow: $449

Break-even live

Break-even rent $279

Max offer price $29,900

Occupancy floor 42%

Sensitivity live

Price	-10% $466	-5% $458	+0% $449	+5% $441	+10% $432
Rent	-10% $382	-5% $416	+0% $449	+5% $483	+10% $516
Rate	-1.0pp $464	-0.5pp $457	base $449	+0.5pp $441	+1.0pp $434

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: $7,475
• Closing costs: $897
• Reserves months: —
• Total cash needed: —

Rent comps 27 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1621 Halford St Anderson, IN	1.0	1.0	440	$900	$2.05	5d	1	0.10mi
1621 Halford St Anderson, IN	1.0	1.0	440	$800	$1.82	44d	1	0.10mi
1807 Raible Ave Anderson, IN	1.0	1.0	503	$725	$1.44	24d	1	0.29mi
1614 W 18th St Anderson, IN	2.0	1.0	690	$975	$1.41	24d	1	0.40mi
1708 W 7th St Anderson, IN	1.0	1.0	700	$875	$1.25	18d	1	0.69mi
1708 W 7th St Anderson, IN	1.0	1.0	700	$1,000	$1.43	44d	1	0.69mi
1708 W 7th St Anderson, IN	1.0	1.0	700	$875	$1.25	21d	1	0.69mi
1627 W 6th St Anderson, IN	2.0	1.0	650	$850	$1.31	24d	1	0.76mi
1708 Euclid Dr Anderson, IN	2.0	1.0	732	$1,225	$1.67	44d	1	0.81mi
1312 W 8th St Unit 1308H Anderson, IN	1.0	1.0	750	$999	$1.33	15d	1	0.87mi
2208 Hendricks St Unit 3 Anderson, IN	1.0	1.0	585	$675	$1.15	44d	1	0.96mi
1712 Fairview St Unit 1712 Anderson, IN	1.0	1.0	450	$695	$1.54	24d	1	1.05mi
702 W 23rd St Anderson, IN	1.0	1.0	560	$595	$1.06	5d	1	1.06mi
1020 W 5th St Unit 1022 Anderson, IN	1.0	1.0	550	$750	$1.36	44d	1	1.06mi
803 1/2 W 9th St Anderson, IN	1.0	1.0	600	$525	$0.88	44d	1	1.08mi
925 W 5th St Unit 1 Anderson, IN	1.0	1.0	617	$775	$1.26	17d	1	1.10mi
924 W 5th St Unit 924 Anderson, IN	1.0	1.0	750	$600	$0.80	24d	1	1.12mi
924 W 5th St Unit 928 Anderson, IN	1.0	1.0	600	$600	$1.00	44d	1	1.12mi
215 S Madison Ave Anderson, IN	1.0	1.0	600	$650	$1.08	44d	1	1.21mi
213 Madison Ave Anderson, IN	1.0	1.0	600	$650	$1.08	44d	1	1.22mi
1010 W 2nd St Unit 1 Anderson, IN	1.0	1.0	724	$925	$1.28	24d	1	1.23mi
702 W 5th St Unit 3 Anderson, IN	1.0	1.0	392	$675	$1.72	44d	1	1.28mi
2527 Chase St Anderson, IN	1.0	1.0	400	$650	$1.62	44d	1	1.40mi
336 W 6th St Anderson, IN	1.0	1.0	450	$625	$1.39	44d	1	1.40mi
2408 Brown St Apt B Anderson, IN	1.0	1.0	500	$850	$1.70	24d	1	1.42mi
519 W 2nd St Anderson, IN	1.0	1.0	650	$800	$1.23	44d	1	1.44mi
1807 Meridian St Apt 4 Anderson, IN	2.0	1.0	475	$725	$1.53	44d	1	1.47mi

Listing history 15 events

1. 2026-06-21
   days on market $29,900 Active 33 DOM
2. 2026-06-18
   days on market $29,900 Active 30 DOM
3. 2026-06-17
   days on market $29,900 Active 29 DOM
4. 2026-06-16
   days on market $29,900 Active 28 DOM
5. 2026-06-15
   days on market $29,900 Active 27 DOM
6. 2026-06-13
   days on market $29,900 Active 25 DOM
7. 2026-06-09
   days on market $29,900 Active 21 DOM
8. 2026-06-08
   days on market $29,900 Active 20 DOM
9. 2026-06-07
   days on market $29,900 Active 19 DOM
10. 2026-06-05
    days on market $29,900 Active 16 DOM
11. 2026-06-03
    days on market $29,900 Active 15 DOM
12. 2026-06-02
    days on market $29,900 Active 14 DOM
13. 2026-06-01
    days on market $29,900 Active 13 DOM
14. 2026-05-31
    days on market $29,900 Active 12 DOM
15. 2026-05-17
    listed $29,900 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: $613 · $51/mo
• Projected year-2 tax: $613 · $51/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 6/10 Major FEMA zone X (unshaded) · 67% 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: $10,170
• − Mortgage interest: −$1,675
• − Property taxes: −$613
• − Insurance: −$150
• − Repairs & maintenance: −$814
• − Management: −$814
• − Depreciation: −$870
• Taxable income: $5,235
• Est. tax owed @ 24.0%: −$1,256
• After-tax cash flow: $4,133/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

1 event — show timeline

• 2026-05-17 Listed $29,900 MIBOR as Distributed by MLS Grid

Property tax history

-3.1%/yr

Latest (2024): $613 · +9.2% YoY. Source: county tax records.