727 W 9th St · Anderson, IN 46016

$72,900

4 bd · 1.5 ba · 1,608 sqft · SingleFamily public records · 205 Days on market

Built 1890 4,032 sqft lot $45/sqft · 17% below area Est $116k · 37% under ↓ 8% 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

Excellent investment opportunity in Anderson! Property includes 3 bedrooms, mostly finished basement, and needs some work but could really shine! Additional 7 properties available from same seller/agent, also vacant, varying condition. Property is sold in Receivership - requires UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK approval of contract prior to closing. Property is sold as-is. Seller will not assume responsibility for any required repairs to the home to qualify for financing. Buyer to be responsible for all costs on the settlement statement except for Seller paid commissions and management fees. Please see the attached documents. The Seller Addendum must be executed and delivered with all Purchase Offers along with all disclosures and proof of funds. Property is sold as-is. Seller will not assume responsibility for any required repairs to the home to qualify for financing. Seller Addendum is required and must be delivered along with Purchase Offer, disclosures, and proof of funds/pre-approval. See MLS docs. Utilities are inactive and the home is winterized.

Key facts

• 4,032 sq ft lot
• Garage
• Built 1890

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $73k.

Deal economics

• At list price, monthly cash flow is $484 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $73k).
• Recommended offer: $64k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.3% 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); 185 active listings in the ZIP; 12 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 41% 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 $504 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 $20k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 205 days — a 12% lower offer ($64k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $64,152 (12.0% below list)

Questions for the listing agent

1. It's been on market 205 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 1890 — 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: 1.71% ✓
• Cap rate: 14.26%
• Cash-on-cash: 28.46%
• DSCR: 2.27
• GRM: 4.9

CMA / ARV

• ARV (median comp): $116,098
• List price: $72,900
• Delta: -37.21%
• 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
904 W 6th St	0.25mi	3/1.0 (-1)	1,556 (-3%)	6mo	$102,000	$66	71
424 W 3rd St	0.44mi	4/1.0	1,574 (-2%)	6mo	$50,000	$32	69
711 Madison Ave	0.24mi	3/2.0 (-1)	1,506 (-6%)	7mo	$135,000	$90	66
1108 W 11th St	0.31mi	3/1.0 (-1)	1,689 (+5%)	14mo	$110,000	$65	59
324 W 7th St	0.28mi	3/2.0 (-1)	1,753 (+9%)	10mo	$175,000	$100	56
1120 W 9th St	0.29mi	3/1.0 (-1)	1,824 (+13%)	2mo	$125,000	$69	55
1019 W 9th St	0.23mi	3/2.0 (-1)	1,830 (+14%)	5mo	$95,000	$52	55
1107 W 3rd St	0.47mi	3/2.0 (-1)	1,456 (-10%)	2mo	$155,000	$106	54
1705 Fairview St	0.55mi	4/2.5	1,782 (+11%)	3mo	$185,000	$104	50
1201 Arrow Ave	0.75mi	3/1.0 (-1)	1,621 (+1%)	10mo	$66,000	$41	48
1531 W 15th St	0.71mi	4/1.5	1,740 (+8%)	10mo	$115,000	$66	45
1217 W 6th St	0.40mi	3/1.0 (-1)	1,848 (+15%)	13mo	$149,900	$81	39

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: 28.1%
• Equity multiple: 2.25×
• Total profit: $25,459
• Equity at exit: $10,870

10-year hold

• IRR: 38.4%
• Equity multiple: 5.46×
• Total profit: $91,084
• Equity at exit: $6,303

Cash invested: $20,412 (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: 4.9×

Monthly cashflow live

• Estimated rent: $1,246 high
• Mortgage (P&I): −$382
• Tax from tax record: −$87 /mo · $1,049/yr
• Insurance: −$30
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $484

Break-even live

Break-even rent $633

Max offer price $72,900

Occupancy floor 56%

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: $18,225
• Closing costs: $2,187
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
921 W 9th St Anderson, IN	3.0	2.0	1611	$1,375	$0.85	23d	1	0.16mi
510 W 5th St Anderson, IN	3.0	1.5	1617	$995	$0.62	43d	1	0.29mi
120 W 10th St Anderson, IN	1.0–3.0	1.0	1066	$1,150	$1.08	1d	1	0.34mi
1222 Nichol Ave Unit 1 Anderson, IN	5.0	1.0	1350	$1,195	$0.89	16d	1	0.42mi
1212 W 5th St Anderson, IN	3.0	1.0	1252	$1,295	$1.03	12d	1	0.45mi
1121 Victory Ct Anderson, IN	3.0	1.0	2053	$1,295	$0.63	21d	1	0.53mi
229 W 19th St Anderson, IN	3.0	1.0	1200	$1,000	$0.83	43d	1	0.71mi
2233 Fairview St Anderson, IN	3.0	1.5	1452	$1,195	$0.82	23d	1	0.93mi
1404 Walton St Anderson, IN	3.0	1.0	1090	$995	$0.91	43d	1	1.07mi
1532 Walton St Anderson, IN	3.0	1.0	1342	$1,100	$0.82	43d	1	1.11mi
2627 Chase St Anderson, IN	3.0	1.0	1050	$850	$0.81	17d	1	1.23mi
228 E 29th St Anderson, IN	3.0	2.0	1440	$1,295	$0.90	4d	1	1.49mi

Listing history 16 events

1. 2026-06-18
   days on market $72,900 Active 205 DOM
2. 2026-06-17
   days on market $72,900 Active 204 DOM
3. 2026-06-16
   days on market $72,900 Active 203 DOM
4. 2026-06-15
   days on market $72,900 Active 202 DOM
5. 2026-06-13
   days on market $72,900 Active 200 DOM
6. 2026-06-09
   days on market $72,900 Active 196 DOM
7. 2026-06-08
   days on market $72,900 Active 195 DOM
8. 2026-06-07
   days on market $72,900 Active 194 DOM
9. 2026-06-05
   days on market $72,900 Active 191 DOM
10. 2026-06-03
    days on market $72,900 Active 190 DOM
11. 2026-06-02
    days on market $72,900 Active 189 DOM
12. 2026-06-01
    days on market $72,900 Active 188 DOM
13. 2026-05-31
    days on market $72,900 Active 187 DOM
14. 2026-03-17
    price $72,900 1104-char remark

    Show marketing remark (1104 chars)

    Excellent investment opportunity in Anderson! Property includes 3 bedrooms, mostly finished basement, and needs some work but could really shine! Additional 7 properties available from same seller/agent, also vacant, varying condition. Property is sold in Receivership - requires UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK approval of contract prior to closing. Property is sold as-is. Seller will not assume responsibility for any required repairs to the home to qualify for financing. Buyer to be responsible for all costs on the settlement statement except for Seller paid commissions and management fees. Please see the attached documents. The Seller Addendum must be executed and delivered with all Purchase Offers along with all disclosures and proof of funds. Property is sold as-is. Seller will not assume responsibility for any required repairs to the home to qualify for financing. Seller Addendum is required and must be delivered along with Purchase Offer, disclosures, and proof of funds/pre-approval. See MLS docs. Utilities are inactive and the home is winterized.

15. 2026-01-19
    price $74,900 1104-char remark

    Show marketing remark (1104 chars)

    Excellent investment opportunity in Anderson! Property includes 3 bedrooms, mostly finished basement, and needs some work but could really shine! Additional 7 properties available from same seller/agent, also vacant, varying condition. Property is sold in Receivership - requires UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK approval of contract prior to closing. Property is sold as-is. Seller will not assume responsibility for any required repairs to the home to qualify for financing. Buyer to be responsible for all costs on the settlement statement except for Seller paid commissions and management fees. Please see the attached documents. The Seller Addendum must be executed and delivered with all Purchase Offers along with all disclosures and proof of funds. Property is sold as-is. Seller will not assume responsibility for any required repairs to the home to qualify for financing. Seller Addendum is required and must be delivered along with Purchase Offer, disclosures, and proof of funds/pre-approval. See MLS docs. Utilities are inactive and the home is winterized.

16. 2025-11-24
    listed $79,000 Active 1104-char remark

    Show marketing remark (1104 chars)

    Excellent investment opportunity in Anderson! Property includes 3 bedrooms, mostly finished basement, and needs some work but could really shine! Additional 7 properties available from same seller/agent, also vacant, varying condition. Property is sold in Receivership - requires UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK approval of contract prior to closing. Property is sold as-is. Seller will not assume responsibility for any required repairs to the home to qualify for financing. Buyer to be responsible for all costs on the settlement statement except for Seller paid commissions and management fees. Please see the attached documents. The Seller Addendum must be executed and delivered with all Purchase Offers along with all disclosures and proof of funds. Property is sold as-is. Seller will not assume responsibility for any required repairs to the home to qualify for financing. Seller Addendum is required and must be delivered along with Purchase Offer, disclosures, and proof of funds/pre-approval. See MLS docs. Utilities are inactive and the home is winterized.

ⓘ 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: $1,049 · $87/mo
• Projected year-2 tax: $1,049 · $87/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
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,951
• − Mortgage interest: −$4,084
• − Property taxes: −$1,049
• − Insurance: −$364
• − Repairs & maintenance: −$1,196
• − Management: −$1,196
• − Depreciation: −$2,121
• Taxable income: $4,941
• Est. tax owed @ 24.0%: −$1,186
• After-tax cash flow: $4,624/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

-7.7% since first listed

3 events — show timeline

• 2026-03-17 Price Changed $72,900 MIBOR as Distributed by MLS Grid
• 2026-01-19 Price Changed $74,900 MIBOR as Distributed by MLS Grid
• 2025-11-24 Listed $79,000 MIBOR as Distributed by MLS Grid

Property tax history

+22.0%/yr

Latest (2024): $1,049 · +8.8% YoY. Source: county tax records.