1308-1310 Cincinnati Ave · Anderson, IN 46016

$87,900

6 bd · 1.0 ba · 2,088 sqft · MultiFamily public records · 32 Days on market

Built 1876 3,330 sqft lot Est $146k · 40% under

---

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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Corporate owned. Property being sold "As Is, Where Is". Please allow 3-5 days to respond to offers. Gross operating income is an estimate.

Key facts

• 3,330 sq ft lot
• Built 1876
• Listed 32 days

Property features AI

Finance

• Financial info: Property configured as two units; Gross reported income: 21000; One unit rents for $208 weekly; Reported expenses: 0

Exterior

• Parking: 2-car parking
• Utilities: Municipal solid waste service; Owner pays lawn care, sewer, and water
• Home design: Duplex residential income property; Two levels (building has two stories)
• Construction: Crawl space foundation
• Exterior features: Frontage road access; Lot under 1/4 acre

Interior

• Kitchen: 10x10 kitchen in one unit
• Bedrooms: One unit is a 3-bedroom (two-level unit)
• Heating & cooling: Forced air heating; No central air
• Interior features: Exterior entry basement; Conversion property

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.0-bath units multifamily listed at $88k.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive. Per door: $576/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $88k).
• Recommended offer: $85k (3.0% below list) — sets the bar for market timing.
• Cap rate 22.0% vs local median 6.1% 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: 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: Tenth Street Elementary School (math 13% / reading 10%, grade F, #904 of 994 statewide, top 91%, 462 students, 89% 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 fast (+7.9%/yr); 188 active listings in the ZIP; 1 comparable units currently listed for rent nearby; lower-income renter base — watch delinquency; 184 units permitted in Madison County in 2024 (0 in 5+ unit buildings).
• At $2,190/mo this rent would consume 73% of the median local household income ($36k/yr) (locally 1193% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $608 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.
• At projected returns (-3.0% appreciation + 7.9% rent growth), your $25k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 32 days — a 3% lower offer ($85k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 18y 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 $11k; list at $88k implies a 699% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1876 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $85,263 (3.0% below list)

Questions for the listing agent

1. It's been on market 32 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1876 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
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. 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.
9. 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.
10. 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: 2.49% ✓
• Cap rate: 22.02%
• Cash-on-cash: 56.16%
• DSCR: 3.50
• GRM: 3.3

CMA / ARV

• ARV (on-the-fly): $146,160
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
807 E 21st St	0.52mi	6/3.0	2,044 (-2%)	1mo	$190,000	$93	64
2105 Central Ave	0.64mi	6/4.0	2,000 (-4%)	2mo	$185,000	$93	50
1609 Brown St	0.68mi	5/2.0 (-1)	1,934 (-7%)	10mo	$135,000	$70	38
2213 Noble St	0.61mi	5/2.0 (-1)	2,314 (+11%)	11mo	$70,000	$30	35
2116 Pearl St	0.58mi	5/3.0 (-1)	2,357 (+13%)	24mo	$125,000	$53	19

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: 59.9%
• Equity multiple: 3.86×
• Total profit: $70,411
• Equity at exit: $13,106

10-year hold

• IRR: 66.3%
• Equity multiple: 9.41×
• Total profit: $207,055
• Equity at exit: $7,600

Cash invested: $24,612 (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: 188
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $2,190 high
• Mortgage (P&I): −$461
• Tax from tax record: −$81 /mo · $969/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$460
• Net cashflow: $1,152

Break-even live

Break-even rent $732

Max offer price $87,900

Occupancy floor 42%

Sensitivity live

Price	-10% $1,202	-5% $1,177	+0% $1,152	+5% $1,127	+10% $1,102
Rent	-10% $979	-5% $1,065	+0% $1,152	+5% $1,238	+10% $1,325
Rate	-1.0pp $1,196	-0.5pp $1,174	base $1,152	+0.5pp $1,129	+1.0pp $1,106

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1	$2,190
Total (2 units)			$2,190

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: $21,975
• Closing costs: $2,637
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
621 S Madison Ave Anderson, IN	6.0	2.0	1961	$1,375	$0.70	18d	1	1.25mi

Listing history 17 events

1. 2026-06-21
   days on market $87,900 Active 32 DOM
2. 2026-06-18
   days on market $87,900 Active 29 DOM
3. 2026-06-17
   pricedays on market $87,900 Active 28 DOM
4. 2026-06-16
   days on market $88,900 Active 27 DOM
5. 2026-06-15
   days on market $88,900 Active 26 DOM
6. 2026-06-13
   days on market $88,900 Active 24 DOM
7. 2026-06-09
   days on market $88,900 Active 20 DOM
8. 2026-06-08
   days on market $88,900 Active 19 DOM
9. 2026-06-07
   days on market $88,900 Active 18 DOM
10. 2026-06-05
    days on market $88,900 Active 15 DOM
11. 2026-06-03
    days on market $88,900 Active 14 DOM
12. 2026-06-02
    days on market $88,900 Active 13 DOM
13. 2026-06-01
    days on market $88,900 Active 12 DOM
14. 2026-05-31
    days on market $88,900 Active 11 DOM
15. 2026-05-20
    listed $89,900 Active
16. 2008-03-05
    soldstatus $11,000 148-char remark

    Show marketing remark (148 chars)

    Corporate owned. Property being sold "As Is, Where Is". Please allow 3-5 days to respond to offers. Gross operating income is an estimate.

17. 2008-01-18
    listed $14,900 148-char remark

    Show marketing remark (148 chars)

    Corporate owned. Property being sold "As Is, Where Is". Please allow 3-5 days to respond to offers. Gross operating income is an estimate.

ⓘ 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: $969 · $81/mo
• Projected year-2 tax: $969 · $81/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 4/10 Moderate FEMA zone X (unshaded) · 13% 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: $26,280
• − Mortgage interest: −$4,924
• − Property taxes: −$969
• − Insurance: −$440
• − Repairs & maintenance: −$2,102
• − Management: −$2,102
• − Depreciation: −$2,557
• Taxable income: $13,186
• Est. tax owed @ 24.0%: −$3,165
• After-tax cash flow: $10,657/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

+489.9% since first listed

5 events — show timeline

• 2026-06-16 Price Changed $87,900 MIBOR as Distributed by MLS Grid
• 2026-05-29 Price Changed $88,900 MIBOR as Distributed by MLS Grid
• 2026-05-20 Listed $89,900 MIBOR as Distributed by MLS Grid
• 2008-03-05 Sold (MLS) $11,000 MIBOR as Distributed by MLS Grid
• 2008-01-18 Listed $14,900 MIBOR as Distributed by MLS Grid

Property tax history

+3.8%/yr

Latest (2024): $969 · +8.6% YoY. Source: county tax records.