700 High St · Anderson, IN 46012

$85,000

2 bd · 1.5 ba · 940 sqft · Condo public records · 41 Days on market

Built 1988

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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 +12.1/30.0
• ARV discount +7.5/15.0
• 1% rule +5.7/10.0
• DSCR +3.6/10.0
• Rent growth +3.0/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

Two bedroom townhouse condo. New downstairs flooring in 2024. New HVAC system in 2021. New fridge in 2024. All appliances included. Upstairs washer and dryer. Two reserved off-street parking places, one under carport. $125 per month HOA fee which includes water and sewer. * IMPORTANT * I do not carry a smart phone in my pocket. If you reply through Zillow message, I may not see it for up to 24 hours. If you& apos; re interested, please call me at 765-649-3274, leave a message, and I will return your call.

Key facts

• One under carport
• New fridge
• New hvac system

Tags

• NEW DOWNSTAIRS FLOORING
• NEW HVAC SYSTEM
• NEW FRIDGE
• UPSTAIRS WASHER AND DRYER
• ONE UNDER CARPORT

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath condo listed at $85k.

Deal economics

• At list price, monthly cash flow is $-18 ($-219/yr) — negative.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($912 rent vs $85k).
• Recommended offer: $82k (3.0% below list) — sets the bar for market timing.

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: Eastside Elementary School (math 34% / reading 36%, grade F, #590 of 994 statewide, top 60%, 511 students, 77% 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 (+1.8%/yr); 162 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 26d 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 $588 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

• It's been on market 41 days — a 3% lower offer ($82k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 23y 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 $54k; list at $85k implies a 56% gain — meaningful room to come down on a strong offer.

Recommended offer $82,450 (3.0% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 41 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.07% ✓
• Cap rate: 6.04%
• Cash-on-cash: -0.92%
• DSCR: 0.96
• GRM: 7.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.82% rent growth · sell at horizon

5-year hold

• IRR: -19.3%
• Equity multiple: 0.33×
• Total profit: $-15,900
• Equity at exit: $12,674

10-year hold

• IRR: -15.1%
• Equity multiple: 0.19×
• Total profit: $-19,198
• Equity at exit: $7,349

Cash invested: $23,800 (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: 162
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $912 high
• Mortgage (P&I): −$446
• Tax from tax record: −$123 /mo · $1,473/yr
• Insurance: −$35
• HOA est. from 2 same-building comps: −$135
• Vacancy / Maint / Mgmt: −$192
• Net cashflow: $-18

Break-even live

Break-even rent $935

Max offer price $81,775

Occupancy floor 97%

Sensitivity live

Price	-10% $30	-5% $6	+0% $-18	+5% $-42	+10% $-66
Rent	-10% $-90	-5% $-54	+0% $-18	+5% $18	+10% $54
Rate	-1.0pp $25	-0.5pp $3	base $-18	+0.5pp $-40	+1.0pp $-63

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
915 High St Unit 915 1/2 Anderson, IN	1.0	1.0	600	$650	$1.08	46d	1	0.14mi
919 E 6th St Apt 2 Anderson, IN	1.0	1.0	700	$625	$0.89	26d	1	0.38mi
917 E 8th St Unit 2 Anderson, IN	2.0	1.0	550	$825	$1.50	10d	1	0.52mi
602 Meridian St Apt C Anderson, IN	2.0	1.0	800	$900	$1.12	46d	1	0.60mi
602 Meridian St Unit 608 A Anderson, IN	1.0	1.0	650	$750	$1.15	26d	1	0.60mi
414 Wheeler Ave Apt B Anderson, IN	1.0	1.0	600	$650	$1.08	46d	1	0.74mi
223 E 11th St Anderson, IN	2.0	1.0	800	$900	$1.12	46d	1	0.76mi
506 W 2nd St Anderson, IN	3.0	1.0	964	$1,095	$1.14	26d	1	0.84mi
120 W 10th St Anderson, IN	1.0–3.0	1.0	1066	$1,025	$0.96	0d	1	0.85mi
1411 Home Ave Anderson, IN	3.0	1.0	810	$1,295	$1.60	26d	1	0.87mi
519 W 2nd St Anderson, IN	1.0	1.0	650	$800	$1.23	46d	1	0.87mi
219 E 13th St Anderson, IN	3.0	1.0	882	$1,000	$1.13	6d	1	0.89mi
221 E 13th St Anderson, IN	1.0	1.0	595	$995	$1.67	17d	1	0.89mi
530 Alhambra Dr Anderson, IN	1.0–2.0	1.0	879	$1,100	$1.25	46d	1	0.90mi
1829 E 8th St Anderson, IN	1.0–3.0	1.0	810	$1,025	$1.27	26d	9	0.94mi
1317 Main St Unit D Anderson, IN	2.0	1.0	834	$725	$0.87	1d	1	0.96mi
1317 Main St Anderson, IN	2.0	1.0	750	$800	$1.07	46d	1	0.96mi
1045 Alhambra Dr Unit 6 Anderson, IN	2.0	1.5	900	$975	$1.08	26d	1	1.03mi
1710 Jefferson St Apt 2 Anderson, IN	2.0	1.0	550	$950	$1.73	46d	1	1.11mi
1321 Lafayette Ct Anderson, IN	3.0	1.5	962	$1,350	$1.40	13d	1	1.11mi
1719 Johnson Ave Anderson, IN	1.0	1.0	616	$824	$1.34	46d	1	1.12mi
803 1/2 W 9th St Anderson, IN	1.0	1.0	600	$525	$0.88	46d	1	1.14mi
1726-1728 Walnut St Anderson, IN	2.0	2.0	900	$995	$1.11	4d	1	1.14mi
924 W 5th St Unit 928 Anderson, IN	1.0	1.0	600	$600	$1.00	46d	1	1.16mi
213 Madison Ave Anderson, IN	1.0	1.0	600	$650	$1.08	46d	1	1.17mi
924 W 5th St Unit 924 Anderson, IN	1.0	1.0	750	$600	$0.80	26d	1	1.17mi
215 S Madison Ave Anderson, IN	1.0	1.0	600	$650	$1.08	46d	1	1.17mi
925 W 5th St Unit 1 Anderson, IN	1.0	1.0	617	$775	$1.26	18d	1	1.17mi
1010 W 2nd St Unit 2 Anderson, IN	2.0	1.0	875	$1,025	$1.17	24d	1	1.19mi
1010 W 2nd St Unit 1 Anderson, IN	1.0	1.0	724	$925	$1.28	26d	1	1.19mi
1010 W 2nd St Unit 3 Anderson, IN	3.0	1.0	1025	$1,125	$1.10	17d	1	1.19mi
2412 E 7th St Anderson, IN	2.0	1.0	600	$895	$1.49	4d	1	1.21mi
1020 W 5th St Unit 1022 Anderson, IN	1.0	1.0	550	$750	$1.36	46d	1	1.24mi
1807 Meridian St Apt 4 Anderson, IN	2.0	1.0	600	$675	$1.12	1d	1	1.27mi
2002 Jefferson St Unit 3 Anderson, IN	1.0	2.0	725	$600	$0.83	46d	1	1.28mi
2625 Lindberg Rd Anderson, IN	1.0–2.0	1.0	756	$1,385	$1.83	46d	1	1.29mi
2505 E 10th St Anderson, IN	1.0–2.0	1.0	850	$949	$1.12	46d	2	1.38mi
1704 S Cross Lakes Cir Unit 1704FS Anderson, IN	1.0	1.0	750	$1,130	$1.51	46d	1	1.41mi
1704 S Cross Lakes Cir Unit 1704DS Anderson, IN	1.0	1.0	750	$1,080	$1.44	13d	1	1.41mi
1312 W 8th St Unit 1308H Anderson, IN	1.0	1.0	750	$999	$1.33	17d	1	1.41mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Likely covers: watersewer
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 24 events

1. 2026-06-22
   days on market $85,000 Active 41 DOM
2. 2026-06-21
   days on market $85,000 Active 40 DOM
3. 2026-06-18
   days on market $85,000 Active 37 DOM
4. 2026-06-17
   days on market $85,000 Active 36 DOM
5. 2026-06-16
   days on market $85,000 Active 35 DOM
6. 2026-06-15
   days on market $85,000 Active 34 DOM
7. 2026-06-13
   days on market $85,000 Active 32 DOM
8. 2026-06-09
   days on market $85,000 Active 28 DOM
9. 2026-06-08
   days on market $85,000 Active 27 DOM
10. 2026-06-07
    days on market $85,000 Active 26 DOM
11. 2026-06-05
    days on market $85,000 Active 23 DOM
12. 2026-06-03
    days on market $85,000 Active 22 DOM
13. 2026-06-02
    days on market $85,000 Active 21 DOM
14. 2026-06-01
    days on market $85,000 Active 20 DOM
15. 2026-05-31
    days on market $85,000 Active 19 DOM
16. 2026-05-12
    listed $85,000 Active 505-char remark
17. 2015-11-16
    historical
18. 2015-05-18
    listed $59,900 Active
19. 2012-06-30
    historical
20. 2011-11-29
    listed $44,500
21. 2010-08-11
    historical
22. 2010-02-10
    listed $54,500
23. 2003-06-19
    soldstatus $54,500
24. 2003-05-05
    listed $53,900

ⓘ 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: $1,473 · $123/mo
• Projected year-2 tax: $1,473 · $123/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $10,947
• − Mortgage interest: −$4,761
• − Property taxes: −$1,473
• − Insurance: −$425
• − Repairs & maintenance: −$876
• − Management: −$876
• − HOA: −$1,620
• − Depreciation: −$2,473
• Taxable loss: −$1,557
• Est. tax savings @ 24.0%: +$374
• After-tax cash flow: $155/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

+57.7% since first listed

9 events — show timeline

• 2026-05-12 Listed $85,000 FSBO.com
• 2015-11-16 Listing Removed — MIBOR as Distributed by MLS Grid
• 2015-05-18 Listed $59,900 MIBOR as Distributed by MLS Grid
• 2012-06-30 Listing Removed — MIBOR as Distributed by MLS Grid
• 2011-11-29 Listed $44,500 MIBOR as Distributed by MLS Grid
• 2010-08-11 Listing Removed — MIBOR as Distributed by MLS Grid
• 2010-02-10 Listed $54,500 MIBOR as Distributed by MLS Grid
• 2003-06-19 Sold (MLS) $54,500 MIBOR as Distributed by MLS Grid
• 2003-05-05 Listed $53,900 MIBOR as Distributed by MLS Grid

Property tax history

+3.6%/yr

Latest (2024): $1,473 · +8.3% YoY. Source: county tax records.