607 Ellenhurst Dr · Anderson, IN 46012

$112,000

2 bd · 1.0 ba · 760 sqft · SingleFamily public records · 8 Days on market

Built 1947 7,500 sqft lot Est $82k · 36% over

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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 +20.8/30.0
• DSCR +6.6/10.0
• 1% rule +4.3/10.0
• Rent growth +3.0/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice 1 bedroom home with Kitchen and living room open and extra bonus room which could be a bedroom. Being Sold as is.

Key facts

• Large center island
• Large laundry room
• 7,500 sq ft lot

Tags

• LARGE CENTER ISLAND
• LARGE LAUNDRY ROOM
• SECOND BEDROOM OFFICE SPACE

Property features AI

Exterior

• Utilities: Public water; Municipal sewer connected
• Home design: Single-family residence; One level
• Construction: Vinyl siding; Poured concrete foundation
• Exterior features: Lot approximately 0.17 acre (< 1/4 acre)

Interior

• Kitchen: Electric cooktop; Electric oven; Microwave; Refrigerator; Kitchen with luxury vinyl plank flooring
• Bedrooms: Two bedrooms on the main level (sizes include approximately 12 x 10 and 10 x 10)
• Flooring: Luxury vinyl plank throughout main living areas
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Zoned heating; Dual cooling
• Interior features: Kitchen island; Eat-in kitchen; Five main-level rooms
• Laundry & utility: Washer; Dryer; Water heater; Main-level laundry (approx. 10 x 10)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $112k.

Deal economics

• At list price, monthly cash flow is $154 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $104k (7.4% below list).
• Recommended offer: $104k (7.4% below list) — sets the bar for 1% rule.
• Cap rate 7.9% vs local median 6.5% in Anderson — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 (+1.8%/yr); 159 active listings in the ZIP; 11 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 $774 of loan paydown is wiped out by about $3k 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.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 26y 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 $45k; list at $112k implies a 149% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $103,748 (7.4% below list)

Questions for the listing agent

1. Built in 1947 — 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: 0.93% ✗
• Cap rate: 7.94%
• Cash-on-cash: 5.88%
• DSCR: 1.26
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $82,080
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2524 E 5th St	0.28mi	2/1.0	780 (+3%)	2mo	$27,000	$35	81
2415 E 9th St	0.39mi	2/1.0	773 (+2%)	0mo	$75,000	$97	79
2614 E 8th St	0.19mi	2/1.0	741 (-2%)	12mo	$98,900	$133	77
2612 Fowler St	0.20mi	2/1.0	693 (-9%)	1mo	$117,900	$170	76
2613 Fowler St	0.18mi	2/1.0	764 (+0%)	20mo	$66,000	$86	74
614 Harrison St	0.11mi	2/1.0	866 (+14%)	0mo	$145,000	$167	71
830 Chester St	0.43mi	2/1.0	800 (+5%)	2mo	$130,000	$163	69
2509 Fowler St	0.31mi	2/1.0	650 (-14%)	4mo	$70,000	$108	58
2508 E 4th St	0.37mi	2/1.0	676 (-11%)	14mo	$89,900	$133	53
817 Alhambra Dr	0.75mi	2/1.0	792 (+4%)	9mo	$70,000	$88	51
2314 E 4th St	0.50mi	3/1.0 (+1)	816 (+7%)	20mo	$29,500	$36	43

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 · 1.82% rent growth · sell at horizon

5-year hold

• IRR: -8.4%
• Equity multiple: 0.69×
• Total profit: $-9,624
• Equity at exit: $16,700

10-year hold

• IRR: -0.4%
• Equity multiple: 0.97×
• Total profit: $-856
• Equity at exit: $9,684

Cash invested: $31,360 (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 46012

• Home prices YoY: -18.6%
• Rents YoY: 1.8%
• Active inventory: 159
• Price-to-rent: 9.0×

Monthly cashflow live

• Estimated rent: $1,037 high
• Mortgage (P&I): −$587
• Tax from tax record: −$32 /mo · $382/yr
• Insurance: −$47
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $154

Break-even live

Break-even rent $843

Max offer price $112,000

Occupancy floor 80%

Sensitivity live

Price	-10% $217	-5% $185	+0% $154	+5% $122	+10% $90
Rent	-10% $72	-5% $113	+0% $154	+5% $195	+10% $236
Rate	-1.0pp $210	-0.5pp $182	base $154	+0.5pp $125	+1.0pp $95

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: $28,000
• Closing costs: $3,360
• Reserves months: —
• Total cash needed: —

Rent comps 11 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
608 Ellenhurst Dr Anderson, IN	2.0	1.0	686	$1,100	$1.60	24d	1	0.06mi
2412 E 7th St Anderson, IN	2.0	1.0	600	$895	$1.49	2d	1	0.35mi
2505 E 10th St Anderson, IN	1.0–2.0	1.0	850	$949	$1.12	44d	2	0.39mi
530 Alhambra Dr Anderson, IN	1.0–2.0	1.0	879	$1,100	$1.25	44d	1	0.66mi
1045 Alhambra Dr Unit 6 Anderson, IN	2.0	1.5	900	$975	$1.08	24d	1	0.76mi
1829 E 8th St Anderson, IN	1.0–3.0	1.0	810	$1,025	$1.27	24d	9	0.76mi
2625 Lindberg Rd Anderson, IN	1.0–2.0	1.0	756	$1,385	$1.83	44d	1	0.77mi
919 E 6th St Apt 2 Anderson, IN	1.0	1.0	700	$625	$0.89	24d	1	1.36mi
917 E 8th St Unit 2 Anderson, IN	2.0	1.0	550	$825	$1.50	8d	1	1.36mi
1719 Johnson Ave Anderson, IN	1.0	1.0	616	$824	$1.34	44d	1	1.40mi
915 High St Unit 915 1/2 Anderson, IN	1.0	1.0	600	$650	$1.08	44d	1	1.41mi

Listing history 6 events

1. 2026-06-18
   days on market $112,000 Active 8 DOM
2. 2026-06-17
   days on market $112,000 Active 7 DOM
3. 2026-06-16
   days on market $112,000 Active 6 DOM
4. 2026-06-15
   days on market $112,000 Active 5 DOM
5. 2026-06-13
   remarks 699-char remark
6. 2026-06-13
   listed $112,000 Active 3 DOM

ⓘ 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: $382 · $32/mo
• Projected year-2 tax: $667 · $56/mo
• Expected delta: +$285/yr (+$24/mo · 74.6%)

ⓘ 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 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,450
• − Mortgage interest: −$6,274
• − Property taxes: −$382
• − Insurance: −$560
• − Repairs & maintenance: −$996
• − Management: −$996
• − Depreciation: −$3,258
• Taxable loss: −$16
• Est. tax savings @ 24.0%: +$4
• After-tax cash flow: $1,849/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): 20,855
• Household income: $58,041
• Rent vs Own: 32.3% rent · 67.7% own
• Severe rent burden: 987.0

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 5% Two or more races 4% Black 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Serbian 2% Italian 1%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 96% English-only · Spanish 3%

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: ▼ -61.16%
• Current HPI: 266.9819
• Rent YoY: ▲ 1.82%
• 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

+187.9% since first listed

8 events — show timeline

• 2026-06-10 Listed $112,000 MIBOR as Distributed by MLS Grid
• 2023-05-09 Sold (MLS) $45,000 MIBOR as Distributed by MLS Grid
• 2023-04-28 Pending — MIBOR as Distributed by MLS Grid
• 2023-04-20 Relisted — MIBOR as Distributed by MLS Grid
• 2023-04-14 Pending — MIBOR as Distributed by MLS Grid
• 2023-04-14 Listed $50,000 MIBOR as Distributed by MLS Grid
• 2000-06-30 Listing Removed — MIBOR as Distributed by MLS Grid
• 2000-03-17 Listed $38,900 MIBOR as Distributed by MLS Grid

Property tax history

+9.4%/yr

Latest (2024): $382 · +4.7% YoY. Source: county tax records.