3437 Hamilton Pl · Anderson, IN 46013

$79,900

1 bd · 1.0 ba · 1,152 sqft · SingleFamily public records · 36 Days on market

Built 1920 6,250 sqft lot $69/sqft · 6% above area Est $96k · 17% under

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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 +26.2/30.0
• ARV discount +15.0/15.0
• DSCR +8.9/10.0
• 1% rule +6.8/10.0
• 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

Welcome to 3437 Hamilton Place, a move-in-ready 3-bedroom 1-bathroom home tucked back in a quiet residential neighborhood on Anderson's southwest side. Set on a flat . 14-acre corner lot with a covered front porch, this 1,302 sq ft two-story home offers a convenient location just moments from Scatterfield Rd, with quick access to shops, restaurants, businesses, Lowe's, Harrah's Casino & Horse Track, downtown Anderson, and Anderson University. Inside, the main level features an open floor plan with a spacious living area, dining area, and semi-open kitchen with stone countertops. Durable laminate flooring runs throughout the home, offering a low-maintenance finish ideal for both homeow

Key facts

• Covered front porch
• Open floor plan
• Convenient location

Tags

• MOVE IN READY
• QUIET RESIDENTIAL NEIGHBORHOOD
• FLAT CORNER LOT
• COVERED FRONT PORCH
• CONVENIENT LOCATION
• OPEN FLOOR PLAN

Property features AI

Exterior

• Parking: No garage
• Utilities: Public water; Municipal sewer connection; Solid waste service available
• Home design: Single-family residence; Two levels; Residential property
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: Patio; Corner lot with sidewalks; No fence

Interior

• Kitchen: Dishwasher
• Bedrooms: Three bedrooms on the upper level
• Bathrooms: One full bathroom
• Heating & cooling: Forced-air heating (natural gas); No central air
• Interior features: Stained woodwork; Utility room
• Laundry & utility: Main-level laundry; Electric water heater

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $204 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($942 rent vs $80k).
• Recommended offer: $78k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.4% 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; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 20d 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 $552 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 $22k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 36 days — a 3% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,503 (3.0% below list)

Questions for the listing agent

1. It's been on market 36 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 1920 — 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: 1.18% ✓
• Cap rate: 9.35%
• Cash-on-cash: 10.93%
• DSCR: 1.49
• GRM: 7.1

CMA / ARV

• ARV (median comp): $96,027
• List price: $79,900
• Delta: -16.79%
• 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
3420 Clark St	0.13mi	2/1.0 (+1)	1,216 (+6%)	16mo	$80,000	$66	67
2508 E 35th St	0.63mi	2/1.0 (+1)	1,178 (+2%)	3mo	$140,000	$119	60
2911 E Lynn St	0.53mi	2/1.0 (+1)	1,092 (-5%)	8mo	$70,000	$64	55
2405 Sunset Blvd	0.65mi	2/1.5 (+1)	1,115 (-3%)	3mo	$90,000	$81	55
1640 Monica Ln	0.43mi	2/1.0 (+1)	1,023 (-11%)	3mo	$142,900	$140	54
1615 E 44th St	0.72mi	2/2.0 (+1)	1,185 (+3%)	2mo	$180,000	$152	51
3619 Sloan Ave	0.62mi	2/1.0 (+1)	1,200 (+4%)	10mo	$180,000	$150	51
826 E 31st St	0.52mi	2/1.0 (+1)	1,056 (-8%)	8mo	$132,500	$125	50
401 Elva St	0.73mi	2/1.0 (+1)	1,120 (-3%)	14mo	$78,000	$70	44
4433 Pitt St	0.73mi	2/1.0 (+1)	1,128 (-2%)	16mo	$115,000	$102	44
423 E 37th St	0.72mi	2/1.0 (+1)	1,020 (-12%)	3mo	$132,000	$129	40
2709 E Lynn St	0.64mi	2/1.0 (+1)	1,305 (+13%)	8mo	$135,000	$103	36

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: 0.0%
• Equity multiple: 1.00×
• Total profit: $35
• Equity at exit: $11,913

10-year hold

• IRR: 9.7%
• Equity multiple: 1.75×
• Total profit: $16,768
• Equity at exit: $6,908

Cash invested: $22,372 (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: 7.1×

Monthly cashflow live

• Estimated rent: $942 high
• Mortgage (P&I): −$419
• Tax from tax record: −$89 /mo · $1,062/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$198
• Net cashflow: $204

Break-even live

Break-even rent $685

Max offer price $79,900

Occupancy floor 73%

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: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1501 E 31st St Anderson, IN	2.0	1.0	840	$1,199	$1.43	20d	1	0.28mi
1232 E 28th St Anderson, IN	2.0	2.0	795	$950	$1.19	43d	1	0.54mi
3006 Noble St Anderson, IN	2.0	1.0	1064	$995	$0.94	7d	1	0.65mi
4415 Columbus Ave Apt 15 Anderson, IN	2.0	1.0	800	$800	$1.00	1d	1	0.80mi
812 Mellen Dr Unit 814 Anderson, IN	2.0	1.0	924	$950	$1.03	1d	1	0.82mi
3000 Fletcher St Unit 3000 Anderson, IN	2.0	1.0	800	$650	$0.81	43d	1	0.85mi
4426 Mellen Ct Anderson, IN	2.0	1.0	899	$900	$1.00	1d	1	0.92mi
2233 E Lynn St Anderson, IN	1.0	1.0	700	$695	$0.99	1d	1	0.92mi
2625 Main St Anderson, IN	2.0	1.0	988	$895	$0.91	23d	1	1.07mi
2023 McKinley St Anderson, IN	2.0	1.0	1500	$950	$0.63	43d	1	1.10mi
3021 Delaware St Anderson, IN	2.0	1.0	1154	$1,150	$1.00	7d	1	1.15mi
2002 Jefferson St Unit 3 Anderson, IN	1.0	2.0	725	$600	$0.83	43d	1	1.18mi
2904 Lincoln St Anderson, IN	2.0	1.0	864	$900	$1.04	43d	1	1.33mi
4021 Brown St Anderson, IN	2.0	1.0	1320	$975	$0.74	7d	1	1.35mi
1726-1728 Walnut St Anderson, IN	2.0	2.0	900	$995	$1.11	2d	1	1.36mi
2324 Chase St Anderson, IN	2.0	1.0	783	$950	$1.21	43d	1	1.44mi
2820 Fairview St Unit A Anderson, IN	2.0	1.0	850	$895	$1.05	43d	1	1.46mi
5514 Arbor Dr Anderson, IN	1.0–2.0	1.0	723	$720	$1.00	11d	3	1.46mi
2442 Morton St Anderson, IN	2.0	1.0	862	$1,125	$1.31	23d	1	1.50mi

Listing history 16 events

1. 2026-06-18
   days on market $79,900 Active 36 DOM
2. 2026-06-17
   days on market $79,900 Active 35 DOM
3. 2026-06-16
   days on market $79,900 Active 34 DOM
4. 2026-06-15
   days on market $79,900 Active 33 DOM
5. 2026-06-13
   days on market $79,900 Active 31 DOM
6. 2026-06-09
   days on market $79,900 Active 27 DOM
7. 2026-06-08
   days on market $79,900 Active 26 DOM
8. 2026-06-07
   days on market $79,900 Active 25 DOM
9. 2026-06-05
   days on market $79,900 Active 22 DOM
10. 2026-06-03
    days on market $79,900 Active 21 DOM
11. 2026-06-02
    days on market $79,900 Active 20 DOM
12. 2026-06-01
    days on market $79,900 Active 19 DOM
13. 2026-05-31
    days on market $79,900 Active 18 DOM
14. 2026-05-13
    listed $79,900 Active 1401-char remark
15. 2021-06-16
    historical
16. 2021-06-14
    listed $61,900 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: $1,062 · $89/mo
• Projected year-2 tax: $1,062 · $89/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 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: $11,310
• − Mortgage interest: −$4,476
• − Property taxes: −$1,062
• − Insurance: −$400
• − Repairs & maintenance: −$905
• − Management: −$905
• − Depreciation: −$2,324
• Taxable income: $1,238
• Est. tax owed @ 24.0%: −$297
• After-tax cash flow: $2,148/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

+29.1% since first listed

3 events — show timeline

• 2026-05-13 Listed $79,900 MIBOR as Distributed by MLS Grid
• 2021-06-16 Listing Removed — MIBOR as Distributed by MLS Grid
• 2021-06-14 Listed $61,900 MIBOR as Distributed by MLS Grid

Property tax history

+10.9%/yr

Latest (2024): $1,062 · -2.0% YoY. Source: county tax records.