412 Elva St · Anderson, IN 46013

$99,900

2 bd · 1.0 ba · 800 sqft · SingleFamily public records · 16 Days on market

Built 1952 5,248 sqft lot Est $85k · 18% over

---

Why this score? — see what drove the D 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 +21.5/30.0
• DSCR +6.9/10.0
• 1% rule +4.4/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Built in 1952 this charming 2-bedroom bungalow boasting original hardwoods, timeless character, and strong investment potential. This single-story home features approximately 800 square feet of living space with a flexible layout designed for both comfort and functionality. A bright attached sunroom provides additional living space and natural light-ideal for a home office, reading nook, or seasonal retreat. W/ D hookups are available both on the main level and in the basement. Fully fenced, alley access to your a 1.5-car detached garage, and a storage shed for additional utility. A spacious covered x porch enhances the home's curb appeal with perennials creates a welcoming outdoor living s

Key facts

• Original hardwoods
• Fully fenced
• 5,248 sq ft lot

Tags

• ORIGINAL HARDWOODS
• BRIGHT ATTACHED SUNROOM
• FULLY FENCED
• SPACIOUS COVERED PORCH
• EASY ACCESS TO LOCAL DINING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $150 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $94k (5.9% below list).
• Recommended offer: $94k (5.9% below list) — sets the bar for 1% rule.
• Cap rate 8.1% vs local median 6.5% in Anderson — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Erskine Elementary School (math 17% / reading 12%, grade F, #862 of 994 statewide, top 88%, 406 students, 82% FRL); Anderson High School (math 21% / reading 51%, grade F, #261 of 369 statewide, top 71%, 1,790 students, 76% FRL).
• Market conditions: 150 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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 $691 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 16 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $94,037 (5.9% below list)

Questions for the listing agent

1. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.94% ✗
• Cap rate: 8.10%
• Cash-on-cash: 6.45%
• DSCR: 1.29
• GRM: 8.9

CMA / ARV

• ARV (on-the-fly): $84,800
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
309 E 34th St	0.17mi	2/1.0	780 (-2%)	5mo	$130,000	$167	84
313 E 39th St	0.22mi	2/1.0	775 (-3%)	2mo	$124,000	$160	83
131 E 36th St	0.15mi	2/1.0	780 (-2%)	8mo	$133,500	$171	82
128 E 36th St	0.17mi	2/1.0	762 (-5%)	4mo	$126,000	$165	81
320 E 34th St	0.19mi	2/1.0	846 (+6%)	6mo	$90,000	$106	77
3507 Columbus Ave	0.35mi	2/1.0	832 (+4%)	4mo	$60,000	$72	74
123 E 35th St	0.20mi	2/1.0	885 (+11%)	4mo	$29,000	$33	70
204 E 34th St	0.23mi	3/1.0 (+1)	728 (-9%)	4mo	$109,000	$150	66
4206 Clark St	0.68mi	2/1.0	803 (+0%)	8mo	$32,500	$40	61
115 South Dr	0.41mi	2/1.0	886 (+11%)	6mo	$90,000	$102	58
3808 Brown St	0.60mi	2/1.0	868 (+8%)	1mo	$75,000	$86	58
4223 Delaware St	0.69mi	2/1.0	768 (-4%)	8mo	$52,000	$68	55

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: -6.4%
• Equity multiple: 0.76×
• Total profit: $-6,656
• Equity at exit: $14,895

10-year hold

• IRR: 3.2%
• Equity multiple: 1.23×
• Total profit: $6,350
• Equity at exit: $8,638

Cash invested: $27,972 (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: 8.9×

Monthly cashflow live

• Estimated rent: $940 high
• Mortgage (P&I): −$524
• Tax from tax record: −$27 /mo · $324/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$197
• Net cashflow: $150

Break-even live

Break-even rent $750

Max offer price $99,900

Occupancy floor 79%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3614 Columbus Ave Anderson, IN	1.0	1.0	553	$725	$1.31	14d	1	0.39mi
328 E 31st St Anderson, IN	1.0	1.0	600	$750	$1.25	43d	1	0.51mi
4015 Haverhill Dr Anderson, IN	3.0	2.0	884	$1,100	$1.24	43d	1	0.54mi
4426 Mellen Ct Anderson, IN	2.0	1.0	899	$900	$1.00	1d	1	0.55mi
812 Mellen Dr Unit 814 Anderson, IN	2.0	1.0	924	$950	$1.03	1d	1	0.57mi
3006 Noble St Anderson, IN	2.0	1.0	1064	$995	$0.94	7d	1	0.58mi
3000 Fletcher St Unit 3000 Anderson, IN	2.0	1.0	800	$650	$0.81	43d	1	0.58mi
4415 Columbus Ave Apt 15 Anderson, IN	2.0	1.0	800	$800	$1.00	1d	1	0.62mi
3009 E Lynn St Unit 1 Anderson, IN	3.0	1.0	1000	$875	$0.88	20d	1	0.69mi
2625 Main St Anderson, IN	2.0	1.0	988	$895	$0.91	23d	1	0.82mi
2904 Lincoln St Anderson, IN	2.0	1.0	864	$900	$1.04	43d	1	0.85mi
1501 E 31st St Anderson, IN	2.0	1.0	840	$1,199	$1.43	20d	1	0.85mi
1232 E 28th St Anderson, IN	2.0	2.0	795	$950	$1.19	43d	1	0.91mi
2627 Chase St Anderson, IN	3.0	1.0	1050	$850	$0.81	17d	1	0.95mi
2820 Fairview St Unit A Anderson, IN	2.0	1.0	850	$895	$1.05	43d	1	0.97mi
702 E 23rd St Anderson, IN	1.0	1.0	560	$595	$1.06	14d	1	1.09mi
2442 Morton St Anderson, IN	2.0	1.0	862	$1,125	$1.31	23d	1	1.11mi
2324 Chase St Anderson, IN	2.0	1.0	783	$950	$1.21	43d	1	1.14mi
2233 E Lynn St Anderson, IN	1.0	1.0	700	$695	$0.99	1d	1	1.17mi
4325 S Madison Ave Anderson, IN	1.0–3.0	1.0–1.5	995	$1,112	$1.12	1d	6	1.17mi
2111 Central Ave Anderson, IN	3.0	1.0	1026	$1,250	$1.22	43d	1	1.19mi
417 E 55th St Anderson, IN	2.0	1.0	724	$1,100	$1.52	21d	1	1.29mi
2002 Jefferson St Unit 3 Anderson, IN	1.0	2.0	725	$600	$0.83	43d	1	1.29mi
2301 Sheridan St Anderson, IN	2.0	1.0	900	$950	$1.06	43d	1	1.32mi
2411 Hendricks St Anderson, IN	3.0	1.0	860	$1,000	$1.16	23d	1	1.32mi
702 W 23rd St Anderson, IN	1.0	1.0	560	$595	$1.06	4d	1	1.33mi
618 W 22nd St Anderson, IN	3.0	1.0	900	$1,250	$1.39	43d	1	1.36mi
2208 Hendricks St Unit 3 Anderson, IN	1.0	1.0	585	$675	$1.15	43d	1	1.42mi
1726-1728 Walnut St Anderson, IN	2.0	2.0	900	$995	$1.11	1d	1	1.42mi
5514 Arbor Dr Anderson, IN	1.0–2.0	1.0	723	$830	$1.15	11d	3	1.44mi
1710 Jefferson St Apt 2 Anderson, IN	2.0	1.0	550	$950	$1.73	43d	1	1.45mi

Listing history 2 events

1. 2026-04-24
   status Pending
2. 2026-04-08
   listed $99,900 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: $324 · $27/mo
• Projected year-2 tax: $587 · $49/mo
• Expected delta: +$263/yr (+$22/mo · 81.0%)

ⓘ 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 100% 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: $11,284
• − Mortgage interest: −$5,596
• − Property taxes: −$324
• − Insurance: −$500
• − Repairs & maintenance: −$903
• − Management: −$903
• − Depreciation: −$2,906
• Taxable income: $153
• Est. tax owed @ 24.0%: −$37
• After-tax cash flow: $1,768/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

2 events — show timeline

• 2026-04-24 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-08 Listed $99,900 MIBOR as Distributed by MLS Grid

Property tax history

+59.0%/yr

Latest (2024): $324 · +34.3% YoY. Source: county tax records.