118 W 16th St · Anderson, IN 46016

$20,000

2 bd · 1.0 ba · 1,330 sqft · SingleFamily public records · 9 Days on market

Built 1891 9,583 sqft lot

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Investor Special, ready for you to make great!

Key facts

• 9,583 sq ft lot
• Built 1891
• Listed 9 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $20k.

Deal economics

• At list price, monthly cash flow is $684 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $20k).
• Cap rate 47.4% 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: crime D-, amenities F, commute 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.
• Zoned schools: Anderson Elementary School (math 12% / reading 12%, grade F, #893 of 994 statewide, top 91%, 378 students, 92% FRL); Highland Middle School (math 9% / reading 22%, grade F, #293 of 330 statewide, top 90%, 914 students, 81% FRL); Anderson High School (math 21% / reading 51%, grade F, #261 of 369 statewide, top 71%, 1,790 students, 76% FRL).
• Market conditions: Rents rising fast (+7.9%/yr); 185 active listings in the ZIP; 37 comparable units currently listed for rent nearby; rentals at typical pace (median 24d 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 35% 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 $138 of loan paydown is wiped out by about $600 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 $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1891 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $20,000

Questions for the listing agent

1. Built in 1891 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 5.21% ✓
• Cap rate: 47.35%
• Cash-on-cash: 146.64%
• DSCR: 7.52
• GRM: 1.6

CMA / ARV

• ARV (on-the-fly): $66,500
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
118 W 16th St	0.00mi	2/1.0	1,330 (0%)	1mo	$19,000	$14	99
416 W 21st St	0.42mi	2/1.0	1,296 (-3%)	12mo	$77,000	$59	66
2122 Fletcher St	0.51mi	3/2.0 (+1)	1,362 (+2%)	6mo	$152,400	$112	58
2412 Morton St	0.63mi	2/1.0	1,400 (+5%)	8mo	$90,000	$64	55
1525 Home Ave	0.58mi	2/1.0	1,209 (-9%)	5mo	$137,000	$113	54
1209 Nichol Ave	0.75mi	2/1.0	1,428 (+7%)	2mo	$23,750	$17	51
711 W 24th St	0.72mi	2/1.0	1,440 (+8%)	3mo	$72,000	$50	50
2120 George St	0.75mi	2/1.0	1,431 (+8%)	3mo	$70,000	$49	50
827 W 9th St	0.61mi	2/2.0	1,221 (-8%)	8mo	$50,000	$41	47
2314 Walnut St	0.69mi	2/1.0	1,450 (+9%)	11mo	$65,000	$45	44
2334 Walnut St	0.72mi	2/1.0	1,136 (-15%)	1mo	$55,000	$48	41
2425 Fletcher St	0.68mi	2/1.0	1,521 (+14%)	7mo	$89,900	$59	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: —
• Equity multiple: 9.16×
• Total profit: $45,723
• Equity at exit: $2,982

10-year hold

• IRR: —
• Equity multiple: 22.49×
• Total profit: $120,351
• Equity at exit: $1,729

Cash invested: $5,600 (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: 1.6×

Monthly cashflow live

• Estimated rent: $1,041 high
• Mortgage (P&I): −$105
• Tax est. 1.5%: −$25 /mo · $300/yr
• Insurance: −$8
• HOA: −$0
• Vacancy / Maint / Mgmt: −$219
• Net cashflow: $684

Break-even live

Break-even rent $175

Max offer price $20,000

Occupancy floor 29%

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: $5,000
• Closing costs: $600
• Reserves months: —
• Total cash needed: —

Rent comps 37 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
229 W 19th St Anderson, IN	3.0	1.0	1200	$1,000	$0.83	44d	1	0.29mi
219 E 13th St Anderson, IN	3.0	1.0	882	$1,000	$1.13	4d	1	0.29mi
120 W 10th St Anderson, IN	1.0–3.0	1.0	1066	$1,025	$0.96	2d	1	0.38mi
2111 Central Ave Anderson, IN	3.0	1.0	1026	$1,250	$1.22	44d	1	0.46mi
1726-1728 Walnut St Anderson, IN	2.0	2.0	900	$995	$1.11	2d	1	0.47mi
618 W 22nd St Anderson, IN	3.0	1.0	900	$1,250	$1.39	44d	1	0.58mi
2233 Fairview St Anderson, IN	3.0	1.5	1452	$1,195	$0.82	24d	1	0.62mi
1502 Cedar St Anderson, IN	2.0	1.0	1104	$850	$0.77	44d	1	0.63mi
921 W 9th St Anderson, IN	3.0	2.0	1611	$1,375	$0.85	24d	1	0.67mi
2301 Sheridan St Anderson, IN	2.0	1.0	900	$950	$1.06	44d	1	0.67mi
820 W 7th St Apt A Anderson, IN	2.0	2.0	1400	$1,200	$0.86	24d	1	0.72mi
510 W 5th St Anderson, IN	3.0	1.5	1617	$995	$0.62	44d	1	0.75mi
2023 McKinley St Anderson, IN	2.0	1.0	1500	$950	$0.63	44d	1	0.75mi
1222 Nichol Ave Unit 4 Anderson, IN	3.0	1.0	1000	$1,135	$1.14	8d	1	0.78mi
1310 W 13th St Anderson, IN	2.0	1.0	1178	$895	$0.76	2d	1	0.80mi
2625 Main St Anderson, IN	2.0	1.0	988	$895	$0.91	24d	1	0.82mi
2627 Chase St Anderson, IN	3.0	1.0	1050	$850	$0.81	18d	1	0.82mi
1023 E 8th St Unit 3 Anderson, IN	2.0	1.5	1200	$1,175	$0.98	8d	1	0.91mi
506 W 2nd St Anderson, IN	3.0	1.0	964	$1,095	$1.14	24d	1	0.93mi
228 E 29th St Anderson, IN	3.0	2.0	1440	$1,295	$0.90	4d	1	0.97mi
1616 W 16th St Anderson, IN	2.0	1.0	1038	$1,050	$1.01	44d	1	1.00mi
1212 W 5th St Anderson, IN	3.0	1.0	1252	$1,295	$1.03	12d	1	1.00mi
3021 Delaware St Anderson, IN	2.0	1.0	1154	$1,150	$1.00	8d	1	1.04mi
706 University Blvd Anderson, IN	2.0	1.0	1250	$1,050	$0.84	2d	1	1.05mi
1010 W 2nd St Unit 3 Anderson, IN	3.0	1.0	1025	$1,125	$1.10	15d	1	1.07mi
1010 W 2nd St Unit 2 Anderson, IN	2.0	1.0	875	$1,025	$1.17	22d	1	1.07mi
3006 Noble St Anderson, IN	2.0	1.0	1064	$995	$0.94	8d	1	1.15mi
1631 W 7th St Anderson, IN	3.0	1.0	900	$1,000	$1.11	44d	1	1.17mi
1136 Irving Way Anderson, IN	2.0	1.0	900	$895	$0.99	22d	1	1.25mi
1529 W 2nd St Anderson, IN	3.0	1.0	884	$1,200	$1.36	24d	1	1.28mi
1318 E 28th St Anderson, IN	3.0	1.0	1280	$1,300	$1.02	12d	1	1.30mi
3009 E Lynn St Unit 1 Anderson, IN	3.0	1.0	1000	$875	$0.88	20d	1	1.31mi
1829 E 8th St Anderson, IN	1.0–3.0	1.0	810	$1,025	$1.27	24d	9	1.38mi
1404 Walton St Anderson, IN	3.0	1.0	1090	$995	$0.91	44d	1	1.38mi
1532 Walton St Anderson, IN	3.0	1.0	1342	$1,100	$0.82	44d	1	1.38mi
1045 Alhambra Dr Unit 6 Anderson, IN	2.0	1.5	900	$975	$1.08	24d	1	1.38mi
2613 Louise St Anderson, IN	2.0	1.0	1096	$950	$0.87	22d	1	1.47mi

Listing history 3 events

1. 2026-04-22
   status Pending
2. 2026-04-13
   listed $20,000 Active
3. 2026-04-10
   listed $20,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,494
• − Mortgage interest: −$1,120
• − Property taxes: −$300
• − Insurance: −$100
• − Repairs & maintenance: −$1,000
• − Management: −$1,000
• − Depreciation: −$582
• Taxable income: $8,393
• Est. tax owed @ 24.0%: −$2,014
• After-tax cash flow: $6,197/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

+0.0% since first listed

3 events — show timeline

• 2026-04-22 Pending — IRMLS
• 2026-04-13 Listed $20,000 IRMLS
• 2026-04-10 Listed $20,000 MIBOR as Distributed by MLS Grid