2703 Main St · Anderson, IN 46016

$42,000

2 bd · 1.0 ba · 1,613 sqft · SingleFamily public records · 33 Days on market

Built 1895 5,227 sqft lot Est $81k · 48% under ↓ 30% 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

FIXER UPPER!!!! 3 Bedroom 2 bath house. 1613 square feet with large rooms. Perfect for your next flip or to add to your rental portfolio.

Key facts

• 5,227 sq ft lot
• 2 garage spots
• Built 1895

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Municipal sewer connected; Solid waste service available
• Home design: Single-family residence; Residential property in fixer condition; Two stories
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: Lot under 1/4 acre (approximately 0.12 acre)

Interior

• Kitchen: No appliances included
• Bedrooms: 3 bedrooms total — 1 on the main level and 2 on the upper level; Upper bedrooms measure approximately 12 x 11 and 11 x 11; Main-level bedroom measures approximately 12 x 12
• Bathrooms: 2 full bathrooms — 1 on the main level and 1 on the upper level
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Attic access
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $42k.

Deal economics

• At list price, monthly cash flow is $557 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $42k).
• Recommended offer: $41k (3.0% below list) — sets the bar for market timing.
• Cap rate 22.2% 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; 16 comparable units currently listed for rent nearby; rentals at typical pace (median 18d 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 36% 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 $290 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 $12k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 33 days — a 3% lower offer ($41k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 22y ago; this cycle's ask has dropped $3k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $40,740 (3.0% below list)

Questions for the listing agent

1. It's been on market 33 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1895 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 2.58% ✓
• Cap rate: 22.20%
• Cash-on-cash: 56.81%
• DSCR: 3.53
• GRM: 3.2

CMA / ARV

• ARV (on-the-fly): $80,650
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2111 Central Ave	0.44mi	3/1.0 (+1)	1,611 (-0%)	2mo	$77,000	$48	72
725 E 27th St	0.44mi	3/1.0 (+1)	1,596 (-1%)	2mo	$55,000	$34	71
303 E 31st St	0.29mi	2/1.0	1,768 (+10%)	1mo	$164,900	$93	70
2626 Morton St	0.42mi	2/1.0	1,532 (-5%)	3mo	$71,000	$46	70
711 E 32nd St	0.53mi	2/1.0	1,721 (+7%)	1mo	$99,400	$58	63
1830 Jefferson St	0.73mi	2/1.0	1,664 (+3%)	1mo	$45,000	$27	60
2116 George St	0.63mi	2/1.0	1,753 (+9%)	2mo	$75,000	$43	54
711 W 24th St	0.64mi	2/1.0	1,440 (-11%)	3mo	$72,000	$50	49
2120 George St	0.63mi	2/1.0	1,431 (-11%)	3mo	$70,000	$49	49
2011 Mckinley St	0.72mi	3/2.0 (+1)	1,694 (+5%)	1mo	$115,000	$68	48
3431 Andover Rd	0.66mi	2/1.0	1,822 (+13%)	0mo	$127,000	$70	47
130 Elva St	0.72mi	3/1.0 (+1)	1,819 (+13%)	0mo	$140,000	$77	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: 60.8%
• Equity multiple: 3.91×
• Total profit: $34,260
• Equity at exit: $6,262

10-year hold

• IRR: 67.1%
• Equity multiple: 9.58×
• Total profit: $100,931
• Equity at exit: $3,631

Cash invested: $11,760 (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: 3.2×

Monthly cashflow live

• Estimated rent: $1,084 high
• Mortgage (P&I): −$220
• Tax from tax record: −$62 /mo · $740/yr
• Insurance: −$18
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $557

Break-even live

Break-even rent $379

Max offer price $42,000

Occupancy floor 44%

Sensitivity live

Price	-10% $581	-5% $569	+0% $557	+5% $545	+10% $533
Rent	-10% $471	-5% $514	+0% $557	+5% $600	+10% $642
Rate	-1.0pp $578	-0.5pp $567	base $557	+0.5pp $546	+1.0pp $535

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: $10,500
• Closing costs: $1,260
• Reserves months: —
• Total cash needed: —

Rent comps 16 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
228 E 29th St Anderson, IN	3.0	2.0	1440	$1,295	$0.90	5d	1	0.16mi
3021 Delaware St Anderson, IN	2.0	1.0	1154	$1,150	$1.00	8d	1	0.29mi
2627 Chase St Anderson, IN	3.0	1.0	1050	$850	$0.81	18d	1	0.32mi
3006 Noble St Anderson, IN	2.0	1.0	1064	$995	$0.94	8d	1	0.41mi
2233 Fairview St Anderson, IN	3.0	1.5	1452	$1,195	$0.82	24d	1	0.60mi
229 W 19th St Anderson, IN	3.0	1.0	1200	$1,000	$0.83	44d	1	0.64mi
2023 McKinley St Anderson, IN	2.0	1.0	1500	$950	$0.63	44d	1	0.69mi
1318 E 28th St Anderson, IN	3.0	1.0	1280	$1,300	$1.02	12d	1	0.82mi
4021 Brown St Anderson, IN	2.0	1.0	1320	$975	$0.74	8d	1	1.09mi
1502 Cedar St Anderson, IN	2.0	1.0	1104	$850	$0.77	44d	1	1.14mi
120 W 10th St Anderson, IN	1.0–3.0	1.0	1066	$1,025	$0.96	2d	1	1.22mi
1310 W 13th St Anderson, IN	2.0	1.0	1178	$895	$0.76	2d	1	1.36mi
2613 Louise St Anderson, IN	2.0	1.0	1096	$950	$0.87	22d	1	1.38mi
921 W 9th St Anderson, IN	3.0	2.0	1611	$1,375	$0.85	24d	1	1.41mi
1023 E 8th St Unit 3 Anderson, IN	2.0	1.5	1200	$1,175	$0.98	8d	1	1.44mi
1121 Victory Ct Anderson, IN	3.0	1.0	2053	$1,295	$0.63	22d	1	1.48mi

Listing history 19 events

1. 2026-06-18
   days on market $42,000 Active 33 DOM
2. 2026-06-17
   days on market $42,000 Active 32 DOM
3. 2026-06-16
   days on market $42,000 Active 31 DOM
4. 2026-06-15
   days on market $42,000 Active 30 DOM
5. 2026-06-13
   days on market $42,000 Active 28 DOM
6. 2026-06-09
   days on market $42,000 Active 24 DOM
7. 2026-06-08
   days on market $42,000 Active 23 DOM
8. 2026-06-07
   days on market $42,000 Active 22 DOM
9. 2026-06-05
   days on market $42,000 Active 19 DOM
10. 2026-06-03
    days on market $42,000 Active 18 DOM
11. 2026-06-02
    days on market $42,000 Active 17 DOM
12. 2026-06-01
    days on market $42,000 Active 16 DOM
13. 2026-05-31
    days on market $42,000 Active 15 DOM
14. 2026-05-16
    price $42,000
15. 2026-05-15
    listed $45,000 Active
16. 2005-08-13
    historical
17. 2005-04-13
    listed $39,900
18. 2005-02-26
    historical
19. 2004-08-27
    listed $59,900

ⓘ 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: $740 · $62/mo
• Projected year-2 tax: $740 · $62/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: $13,005
• − Mortgage interest: −$2,353
• − Property taxes: −$740
• − Insurance: −$210
• − Repairs & maintenance: −$1,040
• − Management: −$1,040
• − Depreciation: −$1,222
• Taxable income: $6,400
• Est. tax owed @ 24.0%: −$1,536
• After-tax cash flow: $5,145/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

-29.9% since first listed

6 events — show timeline

• 2026-05-16 Price Changed $42,000 MIBOR as Distributed by MLS Grid
• 2026-05-15 Listed $45,000 MIBOR as Distributed by MLS Grid
• 2005-08-13 Listing Removed — MIBOR as Distributed by MLS Grid
• 2005-04-13 Listed $39,900 MIBOR as Distributed by MLS Grid
• 2005-02-26 Listing Removed — MIBOR as Distributed by MLS Grid
• 2004-08-27 Listed $59,900 MIBOR as Distributed by MLS Grid

Property tax history

+2.4%/yr

Latest (2024): $740 · +9.2% YoY. Source: county tax records.