3808 Brown St · Anderson, IN 46013

$81,400

2 bd · 1.0 ba · 868 sqft · SingleFamily public records · 95 Days on market

Built 1955 4,640 sqft lot $94/sqft · at area comps Est $79k · at est.

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Why this score? — see what drove the C+ 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 +27.5/30.0
• DSCR +9.6/10.0
• 1% rule +7.2/10.0
• ARV discount +6.0/15.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This two-bedroom, one-bath home offers plenty of potential and a functional layout. Inside, you'll find a spacious living room and a generously sized kitchen, providing a great foundation for customization. The property also includes a one-car detached garage for added storage or parking. Conveniently located in town near shopping, dining, and everyday amenities, this home is an excellent opportunity for investors or buyers looking to make it their own.

Key facts

• Conveniently located
• Detached garage
• Spacious living room

Tags

• DETACHED GARAGE
• SPACIOUS LIVING ROOM
• GENEROUSLY SIZED KITCHEN
• CONVENIENTLY LOCATED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $81k.

Deal economics

• At list price, monthly cash flow is $241 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($993 rent vs $81k).
• Recommended offer: $74k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.8% 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: 150 active listings in the ZIP; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 45% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $563 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 + 3.0% rent growth), your $23k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 95 days — a 9% lower offer ($74k) 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 $19k; list at $81k implies a 324% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $74,074 (9.0% below list)

Questions for the listing agent

1. It's been on market 95 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — 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: 1.22% ✓
• Cap rate: 9.85%
• Cash-on-cash: 12.69%
• DSCR: 1.56
• GRM: 6.8

CMA / ARV

• ARV (median comp): $78,854
• List price: $81,400
• Delta: 3.23%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3808 Brown St	0.00mi	2/1.0	868 (0%)	1mo	$75,000	$86	100
115 South Dr	0.38mi	2/1.0	886 (+2%)	6mo	$90,000	$102	74
706 Lonsvale Dr	0.40mi	2/1.0	853 (-2%)	6mo	$112,000	$131	74
123 E 35th St	0.47mi	2/1.0	885 (+2%)	4mo	$29,000	$33	71
912 Crescent Dr	0.33mi	2/1.0	816 (-6%)	5mo	$125,000	$153	70
910 Lonsvale Dr	0.47mi	3/1.0 (+1)	844 (-3%)	2mo	$125,000	$148	67
4406 Delmar Ct	0.46mi	3/1.5 (+1)	912 (+5%)	2mo	$160,000	$175	62
320 E 34th St	0.63mi	2/1.0	846 (-2%)	6mo	$90,000	$106	61
313 E 39th St	0.50mi	2/1.0	775 (-11%)	2mo	$124,000	$160	57
128 E 36th St	0.47mi	2/1.0	762 (-12%)	4mo	$126,000	$165	55
10 W 41st St	0.33mi	3/2.0 (+1)	960 (+11%)	5mo	$141,000	$147	54
309 E 34th St	0.59mi	2/1.0	780 (-10%)	5mo	$130,000	$167	52

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 2.5%
• Equity multiple: 1.09×
• Total profit: $2,164
• Equity at exit: $12,137

10-year hold

• IRR: 12.0%
• Equity multiple: 1.95×
• Total profit: $21,665
• Equity at exit: $7,038

Cash invested: $22,792 (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 46013

• Home prices YoY: -26.9%
• Active inventory: 150
• Price-to-rent: 6.8×

Monthly cashflow live

• Estimated rent: $993 high
• Mortgage (P&I): −$427
• Tax from tax record: −$83 /mo · $991/yr
• Insurance: −$34
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $241

Break-even live

Break-even rent $688

Max offer price $81,400

Occupancy floor 71%

Sensitivity live

Price	-10% $287	-5% $264	+0% $241	+5% $218	+10% $195
Rent	-10% $163	-5% $202	+0% $241	+5% $280	+10% $319
Rate	-1.0pp $282	-0.5pp $262	base $241	+0.5pp $220	+1.0pp $198

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: $20,350
• Closing costs: $2,442
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
4015 Haverhill Dr Anderson, IN	3.0	2.0	884	$1,100	$1.24	44d	1	0.18mi
4325 S Madison Ave Anderson, IN	1.0–3.0	1.0–1.5	995	$1,112	$1.12	2d	6	0.64mi
2904 Lincoln St Anderson, IN	2.0	1.0	864	$900	$1.04	44d	1	0.77mi
4426 Mellen Ct Anderson, IN	2.0	1.0	899	$900	$1.00	2d	1	0.78mi
328 E 31st St Anderson, IN	1.0	1.0	600	$750	$1.25	44d	1	0.82mi
2820 Fairview St Unit A Anderson, IN	2.0	1.0	850	$895	$1.05	44d	1	0.83mi
3000 Fletcher St Unit 3000 Anderson, IN	2.0	1.0	800	$650	$0.81	44d	1	0.85mi
812 Mellen Dr Unit 814 Anderson, IN	2.0	1.0	924	$950	$1.03	2d	1	0.88mi
2627 Chase St Anderson, IN	3.0	1.0	1050	$850	$0.81	18d	1	0.92mi
3614 Columbus Ave Anderson, IN	1.0	1.0	553	$725	$1.31	15d	1	0.93mi
4415 Columbus Ave Apt 15 Anderson, IN	2.0	1.0	800	$800	$1.00	2d	1	0.96mi
3006 Noble St Anderson, IN	2.0	1.0	1064	$995	$0.94	8d	1	0.97mi
2625 Main St Anderson, IN	2.0	1.0	988	$895	$0.91	24d	1	0.98mi
2442 Morton St Anderson, IN	2.0	1.0	862	$1,125	$1.31	24d	1	1.06mi
2411 Hendricks St Anderson, IN	3.0	1.0	860	$1,000	$1.16	24d	1	1.16mi
2324 Chase St Anderson, IN	2.0	1.0	783	$950	$1.21	44d	1	1.16mi
3009 E Lynn St Unit 1 Anderson, IN	3.0	1.0	1000	$875	$0.88	20d	1	1.17mi
2301 Sheridan St Anderson, IN	2.0	1.0	900	$950	$1.06	44d	1	1.22mi
702 W 23rd St Anderson, IN	1.0	1.0	560	$595	$1.06	5d	1	1.24mi
417 E 55th St Anderson, IN	2.0	1.0	724	$1,100	$1.52	22d	1	1.27mi
2208 Hendricks St Unit 3 Anderson, IN	1.0	1.0	585	$675	$1.15	44d	1	1.30mi
618 W 22nd St Anderson, IN	3.0	1.0	900	$1,250	$1.39	44d	1	1.30mi
2111 Central Ave Anderson, IN	3.0	1.0	1026	$1,250	$1.22	44d	1	1.37mi
1501 E 31st St Anderson, IN	2.0	1.0	840	$1,199	$1.43	20d	1	1.38mi
1232 E 28th St Anderson, IN	2.0	2.0	795	$950	$1.19	44d	1	1.38mi
2613 Louise St Anderson, IN	2.0	1.0	1096	$950	$0.87	22d	1	1.40mi
702 E 23rd St Anderson, IN	1.0	1.0	560	$595	$1.06	15d	1	1.41mi
2719 Dewey St Anderson, IN	2.0	1.0	877	$1,150	$1.31	44d	1	1.46mi
2203 W 28th St Anderson, IN	3.0	1.0	1068	$1,000	$0.94	44d	1	1.49mi

Listing history 12 events

1. 2026-05-14
   status Pending 457-char remark

   Show marketing remark (457 chars)

   This two-bedroom, one-bath home offers plenty of potential and a functional layout. Inside, you'll find a spacious living room and a generously sized kitchen, providing a great foundation for customization. The property also includes a one-car detached garage for added storage or parking. Conveniently located in town near shopping, dining, and everyday amenities, this home is an excellent opportunity for investors or buyers looking to make it their own.

2. 2026-05-08
   price $81,400 457-char remark

   Show marketing remark (457 chars)

   This two-bedroom, one-bath home offers plenty of potential and a functional layout. Inside, you'll find a spacious living room and a generously sized kitchen, providing a great foundation for customization. The property also includes a one-car detached garage for added storage or parking. Conveniently located in town near shopping, dining, and everyday amenities, this home is an excellent opportunity for investors or buyers looking to make it their own.

3. 2026-05-01
   status Active 457-char remark

   Show marketing remark (457 chars)

   This two-bedroom, one-bath home offers plenty of potential and a functional layout. Inside, you'll find a spacious living room and a generously sized kitchen, providing a great foundation for customization. The property also includes a one-car detached garage for added storage or parking. Conveniently located in town near shopping, dining, and everyday amenities, this home is an excellent opportunity for investors or buyers looking to make it their own.

4. 2026-04-30
   historical 457-char remark

   Show marketing remark (457 chars)

   This two-bedroom, one-bath home offers plenty of potential and a functional layout. Inside, you'll find a spacious living room and a generously sized kitchen, providing a great foundation for customization. The property also includes a one-car detached garage for added storage or parking. Conveniently located in town near shopping, dining, and everyday amenities, this home is an excellent opportunity for investors or buyers looking to make it their own.

5. 2026-04-24
   price $82,400 457-char remark

   Show marketing remark (457 chars)

   This two-bedroom, one-bath home offers plenty of potential and a functional layout. Inside, you'll find a spacious living room and a generously sized kitchen, providing a great foundation for customization. The property also includes a one-car detached garage for added storage or parking. Conveniently located in town near shopping, dining, and everyday amenities, this home is an excellent opportunity for investors or buyers looking to make it their own.

6. 2026-04-10
   status Active 457-char remark

   Show marketing remark (457 chars)

   This two-bedroom, one-bath home offers plenty of potential and a functional layout. Inside, you'll find a spacious living room and a generously sized kitchen, providing a great foundation for customization. The property also includes a one-car detached garage for added storage or parking. Conveniently located in town near shopping, dining, and everyday amenities, this home is an excellent opportunity for investors or buyers looking to make it their own.

7. 2026-03-30
   status Pending 457-char remark

   Show marketing remark (457 chars)

   This two-bedroom, one-bath home offers plenty of potential and a functional layout. Inside, you'll find a spacious living room and a generously sized kitchen, providing a great foundation for customization. The property also includes a one-car detached garage for added storage or parking. Conveniently located in town near shopping, dining, and everyday amenities, this home is an excellent opportunity for investors or buyers looking to make it their own.

8. 2026-03-23
   price $83,400 457-char remark

   Show marketing remark (457 chars)

   This two-bedroom, one-bath home offers plenty of potential and a functional layout. Inside, you'll find a spacious living room and a generously sized kitchen, providing a great foundation for customization. The property also includes a one-car detached garage for added storage or parking. Conveniently located in town near shopping, dining, and everyday amenities, this home is an excellent opportunity for investors or buyers looking to make it their own.

9. 2026-03-12
   price $83,900 457-char remark

   Show marketing remark (457 chars)

   This two-bedroom, one-bath home offers plenty of potential and a functional layout. Inside, you'll find a spacious living room and a generously sized kitchen, providing a great foundation for customization. The property also includes a one-car detached garage for added storage or parking. Conveniently located in town near shopping, dining, and everyday amenities, this home is an excellent opportunity for investors or buyers looking to make it their own.

10. 2026-01-26
    listed $84,900 Active 457-char remark

    Show marketing remark (457 chars)

    This two-bedroom, one-bath home offers plenty of potential and a functional layout. Inside, you'll find a spacious living room and a generously sized kitchen, providing a great foundation for customization. The property also includes a one-car detached garage for added storage or parking. Conveniently located in town near shopping, dining, and everyday amenities, this home is an excellent opportunity for investors or buyers looking to make it their own.

11. 2007-03-27
    soldstatus $19,200 344-char remark

    Show marketing remark (344 chars)

    Cozy two bedroom one bath, features eat in kitchen and laundry room. Some updates needed. Room sizes are approx. Pls allow 3-5 business days for response as it sometimes can take this long. Proof of funds and copy o f earnest check required with all offers. Original documents and earnest money required within 48 hrs of seller acceptance.

12. 2006-12-11
    listed $22,500 344-char remark

    Show marketing remark (344 chars)

    Cozy two bedroom one bath, features eat in kitchen and laundry room. Some updates needed. Room sizes are approx. Pls allow 3-5 business days for response as it sometimes can take this long. Proof of funds and copy o f earnest check required with all offers. Original documents and earnest money required within 48 hrs of seller acceptance.

ⓘ 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: $991 · $83/mo
• Projected year-2 tax: $991 · $83/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: $11,915
• − Mortgage interest: −$4,560
• − Property taxes: −$991
• − Insurance: −$407
• − Repairs & maintenance: −$953
• − Management: −$953
• − Depreciation: −$2,368
• Taxable income: $1,683
• Est. tax owed @ 24.0%: −$404
• After-tax cash flow: $2,488/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): 19,073
• Household income: $49,310
• Rent vs Own: 34.8% rent · 65.2% own
• Severe rent burden: 612.0

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: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 8% Black 7% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 1%
• Foreign-born: 0% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -86.70%
• Current HPI: 235.7485
• Rent YoY: —
• 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

+261.8% since first listed

12 events — show timeline

• 2026-05-14 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-08 Price Changed $81,400 MIBOR as Distributed by MLS Grid
• 2026-05-01 Relisted — MIBOR as Distributed by MLS Grid
• 2026-04-30 Listing Removed — MIBOR as Distributed by MLS Grid
• 2026-04-24 Price Changed $82,400 MIBOR as Distributed by MLS Grid
• 2026-04-10 Relisted — MIBOR as Distributed by MLS Grid
• 2026-03-30 Pending — MIBOR as Distributed by MLS Grid
• 2026-03-23 Price Changed $83,400 MIBOR as Distributed by MLS Grid
• 2026-03-12 Price Changed $83,900 MIBOR as Distributed by MLS Grid
• 2026-01-26 Listed $84,900 MIBOR as Distributed by MLS Grid
• 2007-03-27 Sold (MLS) $19,200 MIBOR as Distributed by MLS Grid
• 2006-12-11 Listed $22,500 MIBOR as Distributed by MLS Grid

Property tax history

+4.1%/yr

Latest (2024): $991 · +8.3% YoY. Source: county tax records.