1305 E 26th St · Anderson, IN 46016

$45,000

2 bd · 1.0 ba · 736 sqft · SingleFamily public records · 57 Days on market

Built 1940 1,960 sqft lot Est $53k · 15% under ↓ 13% 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 +14.3/15.0
• 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

2 bedroom home in Anderson currently being used as rental property. Tenant rights in place. Tennant is currently paying $700/month. Tenant has been there for 19 years. Pays on time. Package opportunity available! Seller is selling another property in Anderson.

Key facts

• 1,960 sq ft lot
• 2 garage spots
• Built 1940

Property features AI

Exterior

• Parking: Attached 2-car garage (approximately 420 sq ft)
• Utilities: Public water; Municipal sewer connected; No solid waste service listed
• Home design: Single-family residence; One story; Property listed as fixer
• Construction: Aluminum siding; Block foundation
• Exterior features: Lot smaller than 1/4 acre

Interior

• Kitchen: No appliances included
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating; No central cooling
• Interior features: Attic access; Unfinished basement
• Laundry & utility: No washer/dryer listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $275 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($789 rent vs $45k).
• Recommended offer: $44k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.6% 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; 22 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; lower-income renter base — watch delinquency; 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 $311 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 $13k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $7k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $43,650 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 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 1940 — 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: 1.75% ✓
• Cap rate: 13.64%
• Cash-on-cash: 26.23%
• DSCR: 2.17
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $52,992
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1423 E 30th St	0.28mi	2/1.0	769 (+4%)	22mo	$90,500	$118	62
3127 E Lynn St	0.41mi	2/1.0	814 (+11%)	11mo	$53,000	$65	55
3507 Columbus Ave	0.71mi	2/1.0	832 (+13%)	4mo	$60,000	$72	42

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: 25.8%
• Equity multiple: 2.14×
• Total profit: $14,350
• Equity at exit: $6,710

10-year hold

• IRR: 36.5%
• Equity multiple: 5.26×
• Total profit: $53,679
• Equity at exit: $3,891

Cash invested: $12,600 (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: 4.8×

Monthly cashflow live

• Estimated rent: $789 high
• Mortgage (P&I): −$236
• Tax from tax record: −$93 /mo · $1,118/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$166
• Net cashflow: $275

Break-even live

Break-even rent $440

Max offer price $45,000

Occupancy floor 60%

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: $11,250
• Closing costs: $1,350
• Reserves months: —
• Total cash needed: —

Rent comps 22 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2233 E Lynn St Anderson, IN	1.0	1.0	700	$695	$0.99	2d	1	0.31mi
702 E 23rd St Anderson, IN	1.0	1.0	560	$595	$1.06	14d	1	0.46mi
2002 Jefferson St Unit 3 Anderson, IN	1.0	2.0	725	$600	$0.83	44d	1	0.59mi
1719 Johnson Ave Anderson, IN	1.0	1.0	616	$824	$1.34	44d	1	0.65mi
328 E 31st St Anderson, IN	1.0	1.0	600	$750	$1.25	44d	1	0.69mi
1710 Jefferson St Apt 2 Anderson, IN	2.0	1.0	550	$950	$1.73	44d	1	0.73mi
3614 Columbus Ave Anderson, IN	1.0	1.0	553	$725	$1.31	14d	1	0.80mi
2408 Brown St Apt B Anderson, IN	1.0	1.0	500	$850	$1.70	23d	1	1.03mi
1807 Meridian St Apt 4 Anderson, IN	2.0	1.0	475	$725	$1.53	44d	1	1.03mi
2527 Chase St Anderson, IN	1.0	1.0	400	$650	$1.62	44d	1	1.11mi
221 E 13th St Anderson, IN	1.0	1.0	595	$995	$1.67	14d	1	1.13mi
414 Wheeler Ave Apt B Anderson, IN	1.0	1.0	600	$650	$1.08	44d	1	1.16mi
1317 Main St Anderson, IN	2.0	1.0	750	$800	$1.07	44d	1	1.20mi
1829 E 8th St Anderson, IN	1.0–3.0	1.0	810	$1,025	$1.27	23d	9	1.20mi
917 E 8th St Unit 2 Anderson, IN	2.0	1.0	550	$825	$1.50	7d	1	1.25mi
830 E 7th St Anderson, IN	2.0	1.0	456	$750	$1.64	44d	1	1.35mi
613 College Dr Unit C Anderson, IN	1.0	1.0	500	$900	$1.80	14d	1	1.37mi
702 W 23rd St Anderson, IN	1.0	1.0	560	$595	$1.06	4d	1	1.39mi
919 E 6th St Apt 2 Anderson, IN	1.0	1.0	700	$625	$0.89	23d	1	1.39mi
1712 Fairview St Unit 1712 Anderson, IN	1.0	1.0	450	$695	$1.54	23d	1	1.42mi
530 Alhambra Dr Anderson, IN	1.0–2.0	1.0	879	$1,100	$1.25	44d	1	1.46mi
2208 Hendricks St Unit 3 Anderson, IN	1.0	1.0	585	$675	$1.15	44d	1	1.49mi

Listing history 19 events

1. 2026-06-18
   days on market $45,000 Active 57 DOM
2. 2026-06-17
   days on market $45,000 Active 56 DOM
3. 2026-06-16
   days on market $45,000 Active 55 DOM
4. 2026-06-15
   days on market $45,000 Active 54 DOM
5. 2026-06-13
   days on market $45,000 Active 52 DOM
6. 2026-06-09
   days on market $45,000 Active 48 DOM
7. 2026-06-08
   days on market $45,000 Active 47 DOM
8. 2026-06-07
   days on market $45,000 Active 46 DOM
9. 2026-06-05
   days on market $45,000 Active 43 DOM
10. 2026-06-03
    days on market $45,000 Active 42 DOM
11. 2026-06-02
    days on market $45,000 Active 41 DOM
12. 2026-06-01
    days on market $45,000 Active 40 DOM
13. 2026-05-31
    days on market $45,000 Active 39 DOM
14. 2026-05-18
    status Active
15. 2026-05-18
    price $45,000
16. 2026-03-24
    status Pending
17. 2026-03-09
    status Active
18. 2026-02-02
    status Pending
19. 2026-01-23
    listed $52,000 Active

ⓘ 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: $1,118 · $93/mo
• Projected year-2 tax: $1,118 · $93/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: $9,468
• − Mortgage interest: −$2,521
• − Property taxes: −$1,118
• − Insurance: −$225
• − Repairs & maintenance: −$757
• − Management: −$757
• − Depreciation: −$1,309
• Taxable income: $2,781
• Est. tax owed @ 24.0%: −$667
• After-tax cash flow: $2,638/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

-13.5% since first listed

6 events — show timeline

• 2026-05-18 Relisted — MIBOR as Distributed by MLS Grid
• 2026-05-18 Price Changed $45,000 MIBOR as Distributed by MLS Grid
• 2026-03-24 Pending — MIBOR as Distributed by MLS Grid
• 2026-03-09 Relisted — MIBOR as Distributed by MLS Grid
• 2026-02-02 Pending — MIBOR as Distributed by MLS Grid
• 2026-01-23 Listed $52,000 MIBOR as Distributed by MLS Grid

Property tax history

+4.5%/yr

Latest (2024): $1,118 · +9.1% YoY. Source: county tax records.