2717 Apache Dr · Anderson, IN 46012

$110,900

2 bd · 1.0 ba · 1,542 sqft · SingleFamily public records · 233 Days on market

Built 1953 6,655 sqft lot $72/sqft · 25% below area Est $148k · 25% under ↓ 8% 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 +25.5/30.0
• ARV discount +15.0/15.0
• DSCR +8.5/10.0
• 1% rule +6.5/10.0
• 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 MLS

Welcome home to this affordable and move-in ready property located at 2717 Apache Dr. in Anderson! Priced at just $110,900, this home features several recent updates including a newer roof within the last couple of years, stylish vinyl plank flooring throughout, updated bathroom fixtures and facilities, and new carpeting. Conveniently located close to shopping, dining, and everyday amenities, this home offers both comfort and value. Don't miss your opportunity to own this well-maintained home priced to sell! With 1542 square feet of living area, the residence provides generous space for relaxation and comfort.

Key facts

• 6,655 sq ft lot
• Built 1953
• Listed 233 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $111k.

Deal economics

• At list price, monthly cash flow is $260 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $111k).
• Recommended offer: $98k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% 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: Rents rising (+1.8%/yr); 159 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $767 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 233 days — a 12% lower offer ($98k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $97,592 (12.0% below list)

Questions for the listing agent

1. It's been on market 233 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1953 — 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: 1.15% ✓
• Cap rate: 9.10%
• Cash-on-cash: 10.03%
• DSCR: 1.45
• GRM: 7.3

CMA / ARV

• ARV (median comp): $148,358
• List price: $110,900
• Delta: -25.25%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
318 E 300 N	0.46mi	3/1.5 (+1)	1,468 (-5%)	1mo	$250,000	$170	62
224 E Cross St	0.70mi	2/1.0	1,440 (-7%)	2mo	$50,000	$35	55
1328 Toner Dr	0.55mi	3/2.0 (+1)	1,600 (+4%)	11mo	$289,900	$181	49
3215 Alexandria Pike	0.75mi	3/1.5 (+1)	1,440 (-7%)	3mo	$245,900	$171	44
2025 Crystal St	0.68mi	2/2.0	1,404 (-9%)	21mo	$128,000	$91	32
1342 S Durbin Dr	0.70mi	3/2.0 (+1)	1,323 (-14%)	10mo	$224,900	$170	26

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: -2.5%
• Equity multiple: 0.91×
• Total profit: $-2,922
• Equity at exit: $16,536

10-year hold

• IRR: 5.9%
• Equity multiple: 1.41×
• Total profit: $12,790
• Equity at exit: $9,589

Cash invested: $31,052 (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: 7.3×

Monthly cashflow live

• Estimated rent: $1,273 medium
• Mortgage (P&I): −$582
• Tax from tax record: −$118 /mo · $1,416/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$267
• Net cashflow: $260

Break-even live

Break-even rent $944

Max offer price $110,900

Occupancy floor 75%

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: $27,725
• Closing costs: $3,327
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
220 W Willow St Anderson, IN	3.0	1.0	1200	$1,250	$1.04	1d	1	0.55mi
632 W 300 N Anderson, IN	3.0	1.0	1196	$1,395	$1.17	44d	1	0.72mi
521 W Vinyard St Anderson, IN	3.0	2.0	1712	$1,495	$0.87	16d	1	1.29mi

Listing history 15 events

1. 2026-06-18
   days on market $110,900 Active 233 DOM
2. 2026-06-17
   days on market $110,900 Active 232 DOM
3. 2026-06-16
   days on market $110,900 Active 231 DOM
4. 2026-06-15
   days on market $110,900 Active 230 DOM
5. 2026-06-13
   days on market $110,900 Active 228 DOM
6. 2026-06-09
   days on market $110,900 Active 224 DOM
7. 2026-06-08
   days on market $110,900 Active 223 DOM
8. 2026-06-07
   days on market $110,900 Active 222 DOM
9. 2026-06-05
   days on market $110,900 Active 219 DOM
10. 2026-06-03
    days on market $110,900 Active 218 DOM
11. 2026-06-02
    days on market $110,900 Active 217 DOM
12. 2026-06-01
    days on market $110,900 Active 216 DOM
13. 2026-05-31
    days on market $110,900 Active 215 DOM
14. 2026-05-14
    price $110,900 617-char remark

    Show marketing remark (617 chars)

    Welcome home to this affordable and move-in ready property located at 2717 Apache Dr. in Anderson! Priced at just $110,900, this home features several recent updates including a newer roof within the last couple of years, stylish vinyl plank flooring throughout, updated bathroom fixtures and facilities, and new carpeting. Conveniently located close to shopping, dining, and everyday amenities, this home offers both comfort and value. Don't miss your opportunity to own this well-maintained home priced to sell! With 1542 square feet of living area, the residence provides generous space for relaxation and comfort.

15. 2025-10-26
    listed $119,900 Active 617-char remark

    Show marketing remark (617 chars)

    Welcome home to this affordable and move-in ready property located at 2717 Apache Dr. in Anderson! Priced at just $110,900, this home features several recent updates including a newer roof within the last couple of years, stylish vinyl plank flooring throughout, updated bathroom fixtures and facilities, and new carpeting. Conveniently located close to shopping, dining, and everyday amenities, this home offers both comfort and value. Don't miss your opportunity to own this well-maintained home priced to sell! With 1542 square feet of living area, the residence provides generous space for relaxation and comfort.

ⓘ 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: $1,416 · $118/mo
• Projected year-2 tax: $1,416 · $118/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 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: $15,271
• − Mortgage interest: −$6,212
• − Property taxes: −$1,416
• − Insurance: −$554
• − Repairs & maintenance: −$1,222
• − Management: −$1,222
• − Depreciation: −$3,226
• Taxable income: $1,420
• Est. tax owed @ 24.0%: −$341
• After-tax cash flow: $2,775/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

-7.5% since first listed

2 events — show timeline

• 2026-05-14 Price Changed $110,900 MIBOR as Distributed by MLS Grid
• 2025-10-26 Listed $119,900 MIBOR as Distributed by MLS Grid

Property tax history

+1.5%/yr

Latest (2024): $1,416 · +129.0% YoY. Source: county tax records.