3619 Andover Rd · Anderson, IN 46013

$74,900

2 bd · 1.0 ba · 804 sqft · SingleFamily public records · 62 Days on market

Built 1921 5,950 sqft lot $93/sqft · at area comps Est $111k · 32% under ↓ 19% 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 +28.2/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +7.8/10.0
• 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

Located in Anderson's Meadowbrook neighborhood at 3619 Andover Road, this 1921 single-family home offers a compelling opportunity. Investors will be drawn to this property's potential for rental income or resale value. Handy homeowners seeking a rewarding project will find this property full of promise. Its convenient location and attractive layout make it a desirable place to call home. The cozy 804-square-foot design is thoughtfully crafted to create a comfortable living space. The open-concept living room seamlessly flows into the sunroom, creating an expansive and welcoming space. Wonderful sunlight pours through the generous windows, filling the space with natural light and creating a bright, cheerful atmosphere. The home features two peaceful bedrooms, each serving as a tranquil retreat, and a full bathroom that offers essential convenience. As a single-story home, it provides easy access, with washer and dryer hookups conveniently located on the main level and additional hookups in the basement. Outdoor living is enhanced by a deck and patio, offering separate spaces for relaxation or outdoor enjoyment. The two-car detached garage provides ample storage and protects your vehicles from the elements. With some TLC, this home has the potential to become a charming retreat for you and your family.

Key facts

• Sunroom
• Deck
• Patio

Tags

• OPEN-CONCEPT LIVING ROOM
• SUNROOM
• GENEROUS WINDOWS
• DECK
• PATIO
• TWO-CAR DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $238 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($956 rent vs $75k).
• Recommended offer: $70k (6.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 $518 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 $21k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 62 days — a 6% lower offer ($70k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $70,406 (6.0% below list)

Questions for the listing agent

1. It's been on market 62 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1921 — 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: 1.28% ✓
• Cap rate: 10.11%
• Cash-on-cash: 13.61%
• DSCR: 1.61
• GRM: 6.5

CMA / ARV

• ARV (median comp): $110,868
• List price: $74,900
• Delta: -32.44%
• 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
128 E 36th St	0.24mi	2/1.0	762 (-5%)	4mo	$126,000	$165	77
313 E 39th St	0.36mi	2/1.0	775 (-4%)	2mo	$124,000	$160	76
3808 Brown St	0.24mi	2/1.0	868 (+8%)	1mo	$75,000	$86	75
309 E 34th St	0.36mi	2/1.0	780 (-3%)	5mo	$130,000	$167	74
115 South Dr	0.18mi	2/1.0	886 (+10%)	6mo	$90,000	$102	70
123 E 35th St	0.24mi	2/1.0	885 (+10%)	4mo	$29,000	$33	69
912 Crescent Dr	0.54mi	2/1.0	816 (+2%)	5mo	$125,000	$153	68
320 E 34th St	0.39mi	2/1.0	846 (+5%)	6mo	$90,000	$106	68
204 E 34th St	0.32mi	3/1.0 (+1)	728 (-10%)	4mo	$109,000	$150	61
910 Lonsvale Dr	0.57mi	3/1.0 (+1)	844 (+5%)	2mo	$125,000	$148	59
3507 Columbus Ave	0.72mi	2/1.0	832 (+4%)	4mo	$60,000	$72	57
4406 Delmar Ct	0.69mi	3/1.5 (+1)	912 (+13%)	2mo	$160,000	$175	37

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: 3.7%
• Equity multiple: 1.14×
• Total profit: $3,032
• Equity at exit: $11,168

10-year hold

• IRR: 13.3%
• Equity multiple: 2.06×
• Total profit: $22,213
• Equity at exit: $6,476

Cash invested: $20,972 (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: 6.5×

Monthly cashflow live

• Estimated rent: $956 high
• Mortgage (P&I): −$393
• Tax est. 1.5%: −$94 /mo · $1,124/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$201
• Net cashflow: $238

Break-even live

Break-even rent $655

Max offer price $74,900

Occupancy floor 70%

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 30 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	0.31mi
328 E 31st St Anderson, IN	1.0	1.0	600	$750	$1.25	44d	1	0.62mi
3000 Fletcher St Unit 3000 Anderson, IN	2.0	1.0	800	$650	$0.81	44d	1	0.65mi
2904 Lincoln St Anderson, IN	2.0	1.0	864	$900	$1.04	44d	1	0.66mi
4426 Mellen Ct Anderson, IN	2.0	1.0	899	$900	$1.00	2d	1	0.74mi
2820 Fairview St Unit A Anderson, IN	2.0	1.0	850	$895	$1.05	44d	1	0.75mi
3614 Columbus Ave Anderson, IN	1.0	1.0	553	$725	$1.31	15d	1	0.76mi
3006 Noble St Anderson, IN	2.0	1.0	1064	$995	$0.94	7d	1	0.76mi
2627 Chase St Anderson, IN	3.0	1.0	1050	$850	$0.81	18d	1	0.80mi
2625 Main St Anderson, IN	2.0	1.0	988	$895	$0.91	23d	1	0.80mi
812 Mellen Dr Unit 814 Anderson, IN	2.0	1.0	924	$950	$1.03	2d	1	0.82mi
4325 S Madison Ave Anderson, IN	1.0–3.0	1.0–1.5	995	$1,112	$1.12	2d	6	0.85mi
4415 Columbus Ave Apt 15 Anderson, IN	2.0	1.0	800	$800	$1.00	2d	1	0.89mi
2442 Morton St Anderson, IN	2.0	1.0	862	$1,125	$1.31	23d	1	0.95mi
3009 E Lynn St Unit 1 Anderson, IN	3.0	1.0	1000	$875	$0.88	20d	1	0.96mi
2324 Chase St Anderson, IN	2.0	1.0	783	$950	$1.21	44d	1	1.03mi
2411 Hendricks St Anderson, IN	3.0	1.0	860	$1,000	$1.16	23d	1	1.10mi
2301 Sheridan St Anderson, IN	2.0	1.0	900	$950	$1.06	44d	1	1.13mi
702 W 23rd St Anderson, IN	1.0	1.0	560	$595	$1.06	4d	1	1.15mi
1232 E 28th St Anderson, IN	2.0	2.0	795	$950	$1.19	44d	1	1.17mi
1501 E 31st St Anderson, IN	2.0	1.0	840	$1,199	$1.43	20d	1	1.17mi
2111 Central Ave Anderson, IN	3.0	1.0	1026	$1,250	$1.22	44d	1	1.20mi
618 W 22nd St Anderson, IN	3.0	1.0	900	$1,250	$1.39	44d	1	1.20mi
702 E 23rd St Anderson, IN	1.0	1.0	560	$595	$1.06	15d	1	1.21mi
2208 Hendricks St Unit 3 Anderson, IN	1.0	1.0	585	$675	$1.15	44d	1	1.22mi
417 E 55th St Anderson, IN	2.0	1.0	724	$1,100	$1.52	22d	1	1.35mi
2233 E Lynn St Anderson, IN	1.0	1.0	700	$695	$0.99	2d	1	1.35mi
2002 Jefferson St Unit 3 Anderson, IN	1.0	2.0	725	$600	$0.83	44d	1	1.40mi
2613 Louise St Anderson, IN	2.0	1.0	1096	$950	$0.87	22d	1	1.45mi
1726-1728 Walnut St Anderson, IN	2.0	2.0	900	$995	$1.11	2d	1	1.49mi

Listing history 14 events

1. 2026-06-13
   statusdays on market $74,900 Pending 62 DOM
2. 2026-06-09
   days on market $74,900 Active 59 DOM
3. 2026-06-08
   days on market $74,900 Active 58 DOM
4. 2026-06-07
   days on market $74,900 Active 57 DOM
5. 2026-06-05
   days on market $74,900 Active 54 DOM
6. 2026-06-03
   days on market $74,900 Active 53 DOM
7. 2026-06-02
   days on market $74,900 Active 52 DOM
8. 2026-06-02
   price $74,900 Active 51 DOM
9. 2026-06-01
   days on market $79,900 Active 51 DOM
10. 2026-05-31
    days on market $79,900 Active 50 DOM
11. 2026-05-11
    price $79,900 1321-char remark

    Show marketing remark (1321 chars)

    Located in Anderson's Meadowbrook neighborhood at 3619 Andover Road, this 1921 single-family home offers a compelling opportunity. Investors will be drawn to this property's potential for rental income or resale value. Handy homeowners seeking a rewarding project will find this property full of promise. Its convenient location and attractive layout make it a desirable place to call home. The cozy 804-square-foot design is thoughtfully crafted to create a comfortable living space. The open-concept living room seamlessly flows into the sunroom, creating an expansive and welcoming space. Wonderful sunlight pours through the generous windows, filling the space with natural light and creating a bright, cheerful atmosphere. The home features two peaceful bedrooms, each serving as a tranquil retreat, and a full bathroom that offers essential convenience. As a single-story home, it provides easy access, with washer and dryer hookups conveniently located on the main level and additional hookups in the basement. Outdoor living is enhanced by a deck and patio, offering separate spaces for relaxation or outdoor enjoyment. The two-car detached garage provides ample storage and protects your vehicles from the elements. With some TLC, this home has the potential to become a charming retreat for you and your family.

12. 2026-04-28
    price $84,500 1321-char remark

    Show marketing remark (1321 chars)

    Located in Anderson's Meadowbrook neighborhood at 3619 Andover Road, this 1921 single-family home offers a compelling opportunity. Investors will be drawn to this property's potential for rental income or resale value. Handy homeowners seeking a rewarding project will find this property full of promise. Its convenient location and attractive layout make it a desirable place to call home. The cozy 804-square-foot design is thoughtfully crafted to create a comfortable living space. The open-concept living room seamlessly flows into the sunroom, creating an expansive and welcoming space. Wonderful sunlight pours through the generous windows, filling the space with natural light and creating a bright, cheerful atmosphere. The home features two peaceful bedrooms, each serving as a tranquil retreat, and a full bathroom that offers essential convenience. As a single-story home, it provides easy access, with washer and dryer hookups conveniently located on the main level and additional hookups in the basement. Outdoor living is enhanced by a deck and patio, offering separate spaces for relaxation or outdoor enjoyment. The two-car detached garage provides ample storage and protects your vehicles from the elements. With some TLC, this home has the potential to become a charming retreat for you and your family.

13. 2026-04-17
    price $89,000 1321-char remark

    Show marketing remark (1321 chars)

    Located in Anderson's Meadowbrook neighborhood at 3619 Andover Road, this 1921 single-family home offers a compelling opportunity. Investors will be drawn to this property's potential for rental income or resale value. Handy homeowners seeking a rewarding project will find this property full of promise. Its convenient location and attractive layout make it a desirable place to call home. The cozy 804-square-foot design is thoughtfully crafted to create a comfortable living space. The open-concept living room seamlessly flows into the sunroom, creating an expansive and welcoming space. Wonderful sunlight pours through the generous windows, filling the space with natural light and creating a bright, cheerful atmosphere. The home features two peaceful bedrooms, each serving as a tranquil retreat, and a full bathroom that offers essential convenience. As a single-story home, it provides easy access, with washer and dryer hookups conveniently located on the main level and additional hookups in the basement. Outdoor living is enhanced by a deck and patio, offering separate spaces for relaxation or outdoor enjoyment. The two-car detached garage provides ample storage and protects your vehicles from the elements. With some TLC, this home has the potential to become a charming retreat for you and your family.

14. 2026-04-11
    listed $99,000 Active 1321-char remark

    Show marketing remark (1321 chars)

    Located in Anderson's Meadowbrook neighborhood at 3619 Andover Road, this 1921 single-family home offers a compelling opportunity. Investors will be drawn to this property's potential for rental income or resale value. Handy homeowners seeking a rewarding project will find this property full of promise. Its convenient location and attractive layout make it a desirable place to call home. The cozy 804-square-foot design is thoughtfully crafted to create a comfortable living space. The open-concept living room seamlessly flows into the sunroom, creating an expansive and welcoming space. Wonderful sunlight pours through the generous windows, filling the space with natural light and creating a bright, cheerful atmosphere. The home features two peaceful bedrooms, each serving as a tranquil retreat, and a full bathroom that offers essential convenience. As a single-story home, it provides easy access, with washer and dryer hookups conveniently located on the main level and additional hookups in the basement. Outdoor living is enhanced by a deck and patio, offering separate spaces for relaxation or outdoor enjoyment. The two-car detached garage provides ample storage and protects your vehicles from the elements. With some TLC, this home has the potential to become a charming retreat for you and your family.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $11,477
• − Mortgage interest: −$4,196
• − Property taxes: −$1,124
• − Insurance: −$374
• − Repairs & maintenance: −$918
• − Management: −$918
• − Depreciation: −$2,179
• Taxable income: $1,768
• Est. tax owed @ 24.0%: −$424
• After-tax cash flow: $2,431/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

-19.3% since first listed

4 events — show timeline

• 2026-05-11 Price Changed $79,900 MIBOR as Distributed by MLS Grid
• 2026-04-28 Price Changed $84,500 MIBOR as Distributed by MLS Grid
• 2026-04-17 Price Changed $89,000 MIBOR as Distributed by MLS Grid
• 2026-04-11 Listed $99,000 MIBOR as Distributed by MLS Grid