1410 Walton St · Anderson, IN 46016

$38,900

2 bd · 1.0 ba · 784 sqft · SingleFamily public records · 158 Days on market

Built 1929 5,461 sqft lot $50/sqft · 41% below area Est $66k · 41% under ↓ 7% 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

Investor Alert! Don't miss this single-family home located near downtown Anderson. This property is a fixer and needs to be renovated and brought back to life so it can truly shine. This cute little bungalow sits on a good-sized lot and has 2 bedrooms, 1 bathroom, and nearly 800 sq ft of finished living space. Excellent location within a mile of downtown Anderson, the property benefits from convenient access to local amenities and public transportation, further enhancing rental demand. If you're looking to expand your portfolio with a cash-flowing rental via the BRRRR strategy, or a fix and flip, this property provides a golden chance to invest in a rapidly improving area. Capitalize on this opportunity and grow your real estate portfolio today! Property sold as-is. Cash or hard/private money only due to condition.

Key facts

• Good-sized lot
• Convenient access
• Local amenities

Tags

• SINGLE-FAMILY HOME
• GOOD-SIZED LOT
• EXCELLENT LOCATION
• CONVENIENT ACCESS
• LOCAL AMENITIES
• PUBLIC TRANSPORTATION

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $39k.

Deal economics

• At list price, monthly cash flow is $464 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($952 rent vs $39k).
• Recommended offer: $34k (12.0% below list) — sets the bar for market timing.
• Cap rate 20.6% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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).
• This rent runs 32% 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 $269 of loan paydown is wiped out by about $1k 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 $11k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 158 days — a 12% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 20y 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 $32k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $34,232 (12.0% below list)

Questions for the listing agent

1. It's been on market 158 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1929 — 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: 2.45% ✓
• Cap rate: 20.62%
• Cash-on-cash: 51.15%
• DSCR: 3.28
• GRM: 3.4

CMA / ARV

• ARV (median comp): $65,750
• List price: $38,900
• Delta: -40.84%
• 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
2308 W 16th St	0.12mi	2/1.0	756 (-4%)	3mo	$91,500	$121	86
1516 Fulton St	0.09mi	2/1.0	720 (-8%)	3mo	$63,500	$88	80
1402 Walton St	0.03mi	2/1.0	820 (+5%)	16mo	$40,000	$49	78
1423 Halford St	0.10mi	3/1.0 (+1)	864 (+10%)	2mo	$68,000	$79	72
1812 Halford St	0.29mi	2/1.0	720 (-8%)	3mo	$50,000	$69	70
2241 Nelle St	0.60mi	2/1.0	796 (+2%)	4mo	$66,500	$84	66
1632 W 17th St	0.38mi	2/1.0	840 (+7%)	12mo	$38,000	$45	60
1827 Fulton St	0.30mi	2/1.0	668 (-15%)	4mo	$94,900	$142	58
2310 Halford St	0.64mi	2/2.0	744 (-5%)	2mo	$150,000	$202	56
1640 W 7th St	0.63mi	2/1.0	810 (+3%)	12mo	$98,500	$122	56
1902 Dewey St	0.32mi	2/1.0	672 (-14%)	23mo	$77,500	$115	42
2610 W 18th St	0.40mi	3/1.0 (+1)	900 (+15%)	13mo	$119,000	$132	40

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: 54.6%
• Equity multiple: 3.59×
• Total profit: $28,200
• Equity at exit: $5,800

10-year hold

• IRR: 61.6%
• Equity multiple: 8.80×
• Total profit: $85,008
• Equity at exit: $3,363

Cash invested: $10,892 (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: 3.4×

Monthly cashflow live

• Estimated rent: $952 high
• Mortgage (P&I): −$204
• Tax from tax record: −$68 /mo · $811/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $464

Break-even live

Break-even rent $364

Max offer price $38,900

Occupancy floor 46%

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: $9,725
• Closing costs: $1,167
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1404 Walton St Anderson, IN	3.0	1.0	1090	$995	$0.91	43d	1	0.05mi
1136 Irving Way Anderson, IN	2.0	1.0	900	$895	$0.99	21d	1	0.26mi
1123 Louise St Anderson, IN	2.0	1.0	850	$850	$1.00	43d	1	0.29mi
1720 Nelle St Anderson, IN	2.0	1.0	768	$1,100	$1.43	23d	1	0.30mi
1640 W 17th St Anderson, IN	2.0	1.0	810	$895	$1.10	20d	1	0.36mi
1616 W 16th St Anderson, IN	2.0	1.0	1038	$1,050	$1.01	43d	1	0.39mi
1614 W 18th St Anderson, IN	2.0	1.0	690	$975	$1.41	23d	1	0.43mi
2004 Arrow Ave Anderson, IN	2.0	1.0	816	$1,125	$1.38	23d	1	0.46mi
2705 Horton Dr Anderson, IN	3.0	1.0	936	$1,050	$1.12	20d	1	0.47mi
1708 W 7th St Anderson, IN	1.0	1.0	700	$875	$1.25	17d	1	0.63mi
1708 W 7th St Anderson, IN	1.0	1.0	700	$875	$1.25	19d	1	0.63mi
1708 W 7th St Anderson, IN	1.0	1.0	700	$1,000	$1.43	43d	1	0.63mi
1631 W 7th St Anderson, IN	3.0	1.0	900	$1,000	$1.11	43d	1	0.64mi
1222 Nichol Ave Unit 4 Anderson, IN	3.0	1.0	1000	$1,135	$1.14	7d	1	0.67mi
1627 W 6th St Anderson, IN	2.0	1.0	650	$850	$1.31	23d	1	0.70mi
1502 Cedar St Anderson, IN	2.0	1.0	1104	$850	$0.77	43d	1	0.75mi
1312 W 8th St Unit 1308H Anderson, IN	1.0	1.0	750	$999	$1.33	14d	1	0.82mi
1312 W 8th St Unit 1332 F Anderson, IN	2.0	1.0	850	$979	$1.15	43d	1	0.82mi
1708 Euclid Dr Anderson, IN	2.0	1.0	732	$1,225	$1.67	43d	1	0.82mi
2613 Louise St Anderson, IN	2.0	1.0	1096	$950	$0.87	21d	1	0.83mi
2719 Dewey St Anderson, IN	2.0	1.0	877	$1,150	$1.31	43d	1	0.88mi
2203 W 28th St Anderson, IN	3.0	1.0	1068	$1,000	$0.94	43d	1	0.91mi
1529 W 2nd St Anderson, IN	3.0	1.0	884	$1,200	$1.36	23d	1	0.96mi
2208 Hendricks St Unit 3 Anderson, IN	1.0	1.0	585	$675	$1.15	43d	1	0.99mi
1020 W 5th St Unit 1022 Anderson, IN	1.0	1.0	550	$750	$1.36	43d	1	1.02mi
2411 Hendricks St Anderson, IN	3.0	1.0	860	$1,000	$1.16	23d	1	1.05mi
803 1/2 W 9th St Anderson, IN	1.0	1.0	600	$525	$0.88	43d	1	1.05mi
925 W 5th St Unit 1 Anderson, IN	1.0	1.0	617	$775	$1.26	16d	1	1.06mi
924 W 5th St Unit 924 Anderson, IN	1.0	1.0	750	$600	$0.80	23d	1	1.08mi
924 W 5th St Unit 928 Anderson, IN	1.0	1.0	600	$600	$1.00	43d	1	1.08mi
702 W 23rd St Anderson, IN	1.0	1.0	560	$595	$1.06	4d	1	1.09mi
618 W 22nd St Anderson, IN	3.0	1.0	900	$1,250	$1.39	43d	1	1.10mi
2301 Sheridan St Anderson, IN	2.0	1.0	900	$950	$1.06	43d	1	1.10mi
215 S Madison Ave Anderson, IN	1.0	1.0	600	$650	$1.08	43d	1	1.16mi
213 Madison Ave Anderson, IN	1.0	1.0	600	$650	$1.08	43d	1	1.17mi
1010 W 2nd St Unit 2 Anderson, IN	2.0	1.0	875	$1,025	$1.17	21d	1	1.18mi
1010 W 2nd St Unit 1 Anderson, IN	1.0	1.0	724	$925	$1.28	23d	1	1.18mi
1010 W 2nd St Unit 3 Anderson, IN	3.0	1.0	1025	$1,125	$1.10	14d	1	1.18mi
2442 Morton St Anderson, IN	2.0	1.0	862	$1,125	$1.31	23d	1	1.30mi
2324 Chase St Anderson, IN	2.0	1.0	783	$950	$1.21	43d	1	1.37mi

Listing history 22 events

1. 2026-06-18
   days on market $38,900 Active 158 DOM
2. 2026-06-17
   days on market $38,900 Active 157 DOM
3. 2026-06-16
   days on market $38,900 Active 156 DOM
4. 2026-06-15
   days on market $38,900 Active 155 DOM
5. 2026-06-13
   days on market $38,900 Active 153 DOM
6. 2026-06-09
   days on market $38,900 Active 149 DOM
7. 2026-06-08
   days on market $38,900 Active 148 DOM
8. 2026-06-07
   days on market $38,900 Active 147 DOM
9. 2026-06-05
   days on market $38,900 Active 144 DOM
10. 2026-06-03
    days on market $38,900 Active 143 DOM
11. 2026-06-02
    days on market $38,900 Active 142 DOM
12. 2026-06-01
    days on market $38,900 Active 141 DOM
13. 2026-05-31
    days on market $38,900 Active 140 DOM
14. 2026-04-30
    price $38,900 826-char remark

    Show marketing remark (826 chars)

    Investor Alert! Don't miss this single-family home located near downtown Anderson. This property is a fixer and needs to be renovated and brought back to life so it can truly shine. This cute little bungalow sits on a good-sized lot and has 2 bedrooms, 1 bathroom, and nearly 800 sq ft of finished living space. Excellent location within a mile of downtown Anderson, the property benefits from convenient access to local amenities and public transportation, further enhancing rental demand. If you're looking to expand your portfolio with a cash-flowing rental via the BRRRR strategy, or a fix and flip, this property provides a golden chance to invest in a rapidly improving area. Capitalize on this opportunity and grow your real estate portfolio today! Property sold as-is. Cash or hard/private money only due to condition.

15. 2026-03-30
    status Active 826-char remark

    Show marketing remark (826 chars)

    Investor Alert! Don't miss this single-family home located near downtown Anderson. This property is a fixer and needs to be renovated and brought back to life so it can truly shine. This cute little bungalow sits on a good-sized lot and has 2 bedrooms, 1 bathroom, and nearly 800 sq ft of finished living space. Excellent location within a mile of downtown Anderson, the property benefits from convenient access to local amenities and public transportation, further enhancing rental demand. If you're looking to expand your portfolio with a cash-flowing rental via the BRRRR strategy, or a fix and flip, this property provides a golden chance to invest in a rapidly improving area. Capitalize on this opportunity and grow your real estate portfolio today! Property sold as-is. Cash or hard/private money only due to condition.

16. 2026-02-24
    status Pending 826-char remark

    Show marketing remark (826 chars)

    Investor Alert! Don't miss this single-family home located near downtown Anderson. This property is a fixer and needs to be renovated and brought back to life so it can truly shine. This cute little bungalow sits on a good-sized lot and has 2 bedrooms, 1 bathroom, and nearly 800 sq ft of finished living space. Excellent location within a mile of downtown Anderson, the property benefits from convenient access to local amenities and public transportation, further enhancing rental demand. If you're looking to expand your portfolio with a cash-flowing rental via the BRRRR strategy, or a fix and flip, this property provides a golden chance to invest in a rapidly improving area. Capitalize on this opportunity and grow your real estate portfolio today! Property sold as-is. Cash or hard/private money only due to condition.

17. 2025-12-08
    listed $40,000 Active 826-char remark

    Show marketing remark (826 chars)

    Investor Alert! Don't miss this single-family home located near downtown Anderson. This property is a fixer and needs to be renovated and brought back to life so it can truly shine. This cute little bungalow sits on a good-sized lot and has 2 bedrooms, 1 bathroom, and nearly 800 sq ft of finished living space. Excellent location within a mile of downtown Anderson, the property benefits from convenient access to local amenities and public transportation, further enhancing rental demand. If you're looking to expand your portfolio with a cash-flowing rental via the BRRRR strategy, or a fix and flip, this property provides a golden chance to invest in a rapidly improving area. Capitalize on this opportunity and grow your real estate portfolio today! Property sold as-is. Cash or hard/private money only due to condition.

18. 2022-09-21
    historical
19. 2022-08-24
    price $44,000
20. 2022-03-21
    listed $45,000 Active
21. 2007-11-11
    soldstatus $32,000
22. 2006-02-21
    listed $42,000

ⓘ 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: $811 · $68/mo
• Projected year-2 tax: $811 · $68/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 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: $11,424
• − Mortgage interest: −$2,179
• − Property taxes: −$811
• − Insurance: −$194
• − Repairs & maintenance: −$914
• − Management: −$914
• − Depreciation: −$1,132
• Taxable income: $5,280
• Est. tax owed @ 24.0%: −$1,267
• After-tax cash flow: $4,304/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

-7.4% since first listed

9 events — show timeline

• 2026-04-30 Price Changed $38,900 MIBOR as Distributed by MLS Grid
• 2026-03-30 Relisted — MIBOR as Distributed by MLS Grid
• 2026-02-24 Pending — MIBOR as Distributed by MLS Grid
• 2025-12-08 Listed $40,000 MIBOR as Distributed by MLS Grid
• 2022-09-21 Listing Removed — MIBOR as Distributed by MLS Grid
• 2022-08-24 Price Changed $44,000 MIBOR as Distributed by MLS Grid
• 2022-03-21 Listed $45,000 MIBOR as Distributed by MLS Grid
• 2007-11-11 Sold (MLS) $32,000 MIBOR as Distributed by MLS Grid
• 2006-02-21 Listed $42,000 MIBOR as Distributed by MLS Grid

Property tax history

+9.4%/yr

Latest (2024): $811 · +8.9% YoY. Source: county tax records.