4424 Columbus Ave · Anderson, IN 46013

$115,000

3 bd · 1.0 ba · 2,264 sqft · SingleFamily · 13 Days on market

Built 1949 Fair condition 7,072 sqft lot

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Why this score? — see what drove the C 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 +25.4/30.0
• DSCR +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +6.7/10.0
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.2/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

Southside Anderson Starter Home - Full of Potential! Looking for an affordable place to call home with room to grow? This 3-bedroom, 1.5-bath home on Anderson's Southside is a great opportunity for a first-time buyer or savvy investor ready to add a little TLC and make it their own. You'll love the fenced-in backyard - perfect for kids, pets, or summer gatherings - plus a full basement offering tons of storage or future living space potential. With the right updates and vision, this home could truly shine. Solid space, great location, and plenty of upside - that's a win in today's market.

Key facts

• Storage potential
• Great location
• Full basement

Tags

• FENCED-IN BACKYARD
• FULL BASEMENT
• STORAGE POTENTIAL
• FUTURE LIVING SPACE POTENTIAL
• GREAT LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $115k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $265 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $115k).
• 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: 151 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 184 units permitted in Madison County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($49k/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 $795 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

• Only 13 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $115,000

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1949 — 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: 1.17% ✓
• Cap rate: 9.06%
• Cash-on-cash: 9.89%
• DSCR: 1.44
• GRM: 7.1

CMA / ARV

• ARV (on-the-fly): $230,928
• Comps found: 10

Show comp detail 10 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4210 Main St	0.59mi	3/1.0	2,373 (+5%)	10mo	$176,900	$75	56
3737 Forest Ter	0.51mi	2/1.5 (-1)	2,208 (-2%)	12mo	$125,000	$57	55
1905 E 47th St	0.56mi	4/2.0 (+1)	2,106 (-7%)	2mo	$215,000	$102	52
4223 East Ave	0.46mi	4/2.0 (+1)	2,096 (-7%)	9mo	$235,000	$112	49
209 E 37th St	0.69mi	2/1.0 (-1)	2,342 (+3%)	10mo	$145,000	$62	48
3631 Columbus Ave	0.54mi	2/1.0 (-1)	2,056 (-9%)	8mo	$94,000	$46	48
1803 Charles St	0.53mi	3/2.0	2,376 (+5%)	21mo	$243,000	$102	45
3411 Columbus Ave	0.75mi	2/1.0 (-1)	2,112 (-7%)	5mo	$162,000	$77	44
2006 E 44th St	0.61mi	3/2.0	2,053 (-9%)	14mo	$255,000	$124	40
1919 E 44th St	0.59mi	4/1.5 (+1)	2,001 (-12%)	19mo	$210,000	$105	30

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: -1.4%
• Equity multiple: 0.95×
• Total profit: $-1,708
• Equity at exit: $17,147

10-year hold

• IRR: 8.3%
• Equity multiple: 1.63×
• Total profit: $20,366
• Equity at exit: $9,943

Cash invested: $32,200 (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: 151
• Price-to-rent: 7.1×

Monthly cashflow live

• Estimated rent: $1,342 medium
• Mortgage (P&I): −$603
• Tax est. 1.5%: −$144 /mo · $1,725/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $265

Break-even live

Break-even rent $1,006

Max offer price $115,000

Occupancy floor 75%

Sensitivity live

Price	-10% $345	-5% $305	+0% $265	+5% $226	+10% $186
Rent	-10% $159	-5% $212	+0% $265	+5% $318	+10% $371
Rate	-1.0pp $323	-0.5pp $295	base $265	+0.5pp $236	+1.0pp $205

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2626 Main St Anderson, IN	3.0	2.0	3366	$1,200	$0.36	24d	1	1.46mi

Listing history 2 events

1. 2026-03-17
   status Pending
2. 2026-03-02
   listed $115,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $16,104
• − Mortgage interest: −$6,442
• − Property taxes: −$1,725
• − Insurance: −$575
• − Repairs & maintenance: −$1,288
• − Management: −$1,288
• − Depreciation: −$3,345
• Taxable income: $1,440
• Est. tax owed @ 24.0%: −$346
• After-tax cash flow: $2,840/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.

Condition & rehab AI · 14 photos

Fair 45/100 Moderate rehab

This home requires significant repairs and maintenance, including a major repair to the roof and exterior walls, as well as service to the HVAC unit. While it has potential, it needs substantial work to increase its value.

Repairs flagged

• Major roof — The roof appears to be in poor condition, with visible wear and tear.
• Major exterior walls — The exterior walls appear to be in poor condition, with visible cracks and discoloration.
• Major HVAC unit — The HVAC unit appears to be in poor condition, with no visible signs of recent maintenance or repair.

Value-add opportunities

• Resale repair roof — A repaired roof will significantly increase the home's resale value by addressing a major issue and improving the home's overall appearance.
• Resale paint exterior walls — Painting the exterior walls will improve the home's curb appeal and increase its resale value.
• Rental repair HVAC unit — A repaired HVAC unit will improve the home's rental value by ensuring a comfortable living environment for tenants.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
exterior walls · The exterior walls appear to be in poor condition, with visible cracks and discoloration.	Major	$15,000–50,000
HVAC unit · The HVAC unit appears to be in poor condition, with no visible signs of recent maintenance or repair.	Major	$15,000–50,000
Total estimated repair cost · 3 items		$45,000–150,000

Value-add ROI direction

• Resale repair roof — A repaired roof will significantly increase the home's resale value by addressing a major issue and improving the home's overall appearance. ↑
• Resale paint exterior walls — Painting the exterior walls will improve the home's curb appeal and increase its resale value. ↑
• Rental repair HVAC unit — A repaired HVAC unit will improve the home's rental value by ensuring a comfortable living environment for tenants. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• 2026-03-17 Pending — MIBOR as Distributed by MLS Grid
• 2026-03-02 Listed $115,000 MIBOR as Distributed by MLS Grid