1541 Walnut St · Anderson, IN 46016

$55,000

3 bd · 1.0 ba · 1,032 sqft · SingleFamily public records · 1 Days on market

Built 1880 4,758 sqft lot Est $71k · 23% under ↓ 45% 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 +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

Listing remarks

Come check out this 3-bedroom investment property with strong rental potential located right next to Walnut Street Park. The property features new windows, flooring, fresh paint throughout, and a spacious layout. This is a great opportunity for investors or owner-occupants alike.

Key facts

• Fresh paint
• New flooring
• Investment property

Tags

• INVESTMENT PROPERTY
• STRONG RENTAL POTENTIAL
• NEW WINDOWS
• NEW FLOORING
• FRESH PAINT
• SPACIOUS LAYOUT

Property features AI

Exterior

• Utilities: Public water; Municipal sewer connected
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Block foundation
• Exterior features: Lot under 1/4 acre

Interior

• Kitchen: Microwave; Electric oven; Refrigerator
• Bedrooms: Three bedrooms on the main level
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Forced air heating; Wall unit cooling
• Interior features: Attic access; High ceilings; Breakfast bar; Kitchen island

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $506 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Cap rate 17.3% 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; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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).
• This rent runs 36% of the median local income ($36k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $380 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 + 7.9% rent growth), your $15k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 3y 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 1880 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $55,000

Questions for the listing agent

1. Built in 1880 — 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. 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.
6. 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.
7. 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: 1.95% ✓
• Cap rate: 17.33%
• Cash-on-cash: 39.41%
• DSCR: 2.75
• GRM: 4.3

CMA / ARV

• ARV (on-the-fly): $71,208
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1541 Walnut St	0.00mi	3/1.0	1,032 (0%)	0mo	$47,398	$46	100
1612 Cincinnati Ave	0.32mi	3/1.5	1,080 (+5%)	4mo	$57,000	$53	72
1330 Pearl St	0.17mi	3/1.0	1,090 (+6%)	18mo	$85,000	$78	68
1610 Central Ave	0.19mi	2/1.0 (-1)	975 (-6%)	15mo	$50,000	$51	65
1611 Johnson Ave	0.38mi	2/1.0 (-1)	1,104 (+7%)	2mo	$25,000	$23	64
1911 Pearl St	0.22mi	3/1.0	1,112 (+8%)	20mo	$85,000	$76	60
1228 Cincinnati Ave	0.26mi	3/1.0	979 (-5%)	23mo	$108,900	$111	60
2205 Main St	0.49mi	2/1.0 (-1)	1,036 (+0%)	16mo	$72,000	$69	58
2334 Walnut St	0.52mi	2/1.0 (-1)	1,136 (+10%)	1mo	$55,000	$48	53
1022 Tousey St	0.62mi	3/2.0	1,076 (+4%)	9mo	$118,000	$110	53
1718 Cincinnati Ave	0.38mi	2/1.0 (-1)	898 (-13%)	4mo	$115,000	$128	53

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: 40.9%
• Equity multiple: 2.87×
• Total profit: $28,819
• Equity at exit: $8,201

10-year hold

• IRR: 49.3%
• Equity multiple: 6.95×
• Total profit: $91,645
• Equity at exit: $4,755

Cash invested: $15,400 (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: 4.3×

Monthly cashflow live

• Estimated rent: $1,073 high
• Mortgage (P&I): −$288
• Tax from tax record: −$31 /mo · $371/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $506

Break-even live

Break-even rent $433

Max offer price $55,000

Occupancy floor 48%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1726-1728 Walnut St Anderson, IN	2.0	2.0	900	$995	$1.11	2d	1	0.10mi
1411 Home Ave Anderson, IN	3.0	1.0	810	$1,295	$1.60	23d	1	0.19mi
219 E 13th St Anderson, IN	3.0	1.0	882	$1,000	$1.13	4d	1	0.27mi
1317 Main St Anderson, IN	2.0	1.0	750	$800	$1.07	43d	1	0.34mi
2023 McKinley St Anderson, IN	2.0	1.0	1500	$950	$0.63	43d	1	0.37mi
223 E 11th St Anderson, IN	2.0	1.0	800	$900	$1.12	43d	1	0.37mi
2111 Central Ave Anderson, IN	3.0	1.0	1026	$1,250	$1.22	43d	1	0.40mi
229 W 19th St Anderson, IN	3.0	1.0	1200	$1,000	$0.83	43d	1	0.59mi
120 W 10th St Anderson, IN	1.0–3.0	1.0	1066	$1,150	$1.08	1d	1	0.63mi
1023 E 8th St Unit 3 Anderson, IN	2.0	1.5	1200	$1,175	$0.98	7d	1	0.64mi
602 Meridian St Apt C Anderson, IN	2.0	1.0	800	$900	$1.12	43d	1	0.74mi
2324 Chase St Anderson, IN	2.0	1.0	783	$950	$1.21	43d	1	0.74mi
2625 Main St Anderson, IN	2.0	1.0	988	$895	$0.91	23d	1	0.78mi
618 W 22nd St Anderson, IN	3.0	1.0	900	$1,250	$1.39	43d	1	0.88mi
228 E 29th St Anderson, IN	3.0	2.0	1440	$1,295	$0.90	4d	1	0.88mi
2233 Fairview St Anderson, IN	3.0	1.5	1452	$1,195	$0.82	23d	1	0.89mi
2442 Morton St Anderson, IN	2.0	1.0	862	$1,125	$1.31	23d	1	0.91mi
1232 E 28th St Anderson, IN	2.0	2.0	795	$950	$1.19	43d	1	0.93mi
2627 Chase St Anderson, IN	3.0	1.0	1050	$850	$0.81	17d	1	0.93mi
706 University Blvd Anderson, IN	2.0	1.0	1250	$1,050	$0.84	2d	1	0.94mi
3000 Fletcher St Unit 3000 Anderson, IN	2.0	1.0	800	$650	$0.81	43d	1	0.95mi
2301 Sheridan St Anderson, IN	2.0	1.0	900	$950	$1.06	43d	1	0.96mi
3006 Noble St Anderson, IN	2.0	1.0	1064	$995	$0.94	7d	1	0.96mi
1318 E 28th St Anderson, IN	3.0	1.0	1280	$1,300	$1.02	12d	1	0.97mi
1045 Alhambra Dr Unit 6 Anderson, IN	2.0	1.5	900	$975	$1.08	23d	1	1.00mi
1829 E 8th St Anderson, IN	1.0–3.0	1.0	810	$1,250	$1.54	23d	9	1.01mi
3009 E Lynn St Unit 1 Anderson, IN	3.0	1.0	1000	$875	$0.88	20d	1	1.04mi
1502 Cedar St Anderson, IN	2.0	1.0	1104	$850	$0.77	43d	1	1.06mi
3021 Delaware St Anderson, IN	2.0	1.0	1154	$1,150	$1.00	7d	1	1.07mi
820 W 7th St Apt A Anderson, IN	2.0	2.0	1400	$1,200	$0.86	23d	1	1.08mi
2904 Lincoln St Anderson, IN	2.0	1.0	864	$900	$1.04	43d	1	1.08mi
2411 Hendricks St Anderson, IN	3.0	1.0	860	$1,000	$1.16	23d	1	1.11mi
2820 Fairview St Unit A Anderson, IN	2.0	1.0	850	$895	$1.05	43d	1	1.12mi
506 W 2nd St Anderson, IN	3.0	1.0	964	$1,095	$1.14	23d	1	1.18mi
1222 Nichol Ave Unit 4 Anderson, IN	3.0	1.0	1000	$1,135	$1.14	7d	1	1.20mi
530 Alhambra Dr Anderson, IN	1.0–2.0	1.0	879	$1,100	$1.25	43d	1	1.21mi
1501 E 31st St Anderson, IN	2.0	1.0	840	$1,199	$1.43	20d	1	1.21mi
1310 W 13th St Anderson, IN	2.0	1.0	1178	$895	$0.76	2d	1	1.23mi
1312 W 8th St Unit 1332 F Anderson, IN	2.0	1.0	850	$979	$1.15	43d	1	1.34mi
1212 W 5th St Anderson, IN	3.0	1.0	1252	$1,295	$1.03	12d	1	1.38mi

Listing history 10 events

1. 2026-05-13
   status Pending
2. 2026-05-11
   listed $55,000 Active
3. 2025-01-25
   historical
4. 2024-12-10
   status Active
5. 2024-11-29
   status Pending
6. 2024-10-24
   status Active
7. 2024-10-10
   status Pending
8. 2024-08-21
   price $75,000
9. 2024-07-26
   listed $80,000 Active
10. 2023-11-11
    listed $100,000 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: $371 · $31/mo
• Projected year-2 tax: $419 · $35/mo
• Expected delta: +$48/yr (+$4/mo · 13.0%)

ⓘ 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: $12,881
• − Mortgage interest: −$3,081
• − Property taxes: −$371
• − Insurance: −$275
• − Repairs & maintenance: −$1,030
• − Management: −$1,030
• − Depreciation: −$1,600
• Taxable income: $5,493
• Est. tax owed @ 24.0%: −$1,318
• After-tax cash flow: $4,750/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

-45.0% since first listed

10 events — show timeline

• 2026-05-13 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-11 Listed $55,000 MIBOR as Distributed by MLS Grid
• 2025-01-25 Listing Removed — MIBOR as Distributed by MLS Grid
• 2024-12-10 Relisted — MIBOR as Distributed by MLS Grid
• 2024-11-29 Pending — MIBOR as Distributed by MLS Grid
• 2024-10-24 Relisted — MIBOR as Distributed by MLS Grid
• 2024-10-10 Pending — MIBOR as Distributed by MLS Grid
• 2024-08-21 Price Changed $75,000 MIBOR as Distributed by MLS Grid
• 2024-07-26 Listed $80,000 MIBOR as Distributed by MLS Grid
• 2023-11-11 Listed $100,000 IRMLS

Property tax history

+1.0%/yr

Latest (2024): $371 · +9.2% YoY. Source: county tax records.