2018 Ohio Ave · Anderson, IN 46016

$47,500

2 bd · 1.0 ba · 832 sqft · SingleFamily public records · 50 Days on market

Built 1930 7,200 sqft lot $57/sqft · at area comps Est $69k · 31% 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 +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

ATTENTION: INVESTORS, "AS IS CONDITION", CASH ONLY! Some remodeling started, never completed. The spacious uncompleted room could be the original 2nd bedroom, office or room of your choice. Some materials will remain on the property. The second bedroom has been remodeled to open concept. Nice screen front porch. Motivated Seller!

Key facts

• 7,200 sq ft lot
• Built 1930
• Listed 50 days

Property features AI

Finance

• Other: Lot is approximately 0.17 acres (city lot, access); Building area total 1,231; living area 832

Exterior

• Utilities: Public water; Septic system; Electricity connected; Natural gas available and connected; Water connected
• Home design: Single-family residence; One story; Fixer condition
• Construction: Other construction materials; Other foundation
• Exterior features: Covered porch; Deck; Partial fencing; Storage shed

Interior

• Kitchen: Microwave; Refrigerator
• Bedrooms: 1 bedroom on the main level
• Bathrooms: 1 full bathroom on the main level
• Heating & cooling: Forced air heating (natural gas); Window unit(s) for cooling; No central air
• Interior features: Eat-in kitchen; Cellar with interior entry
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $48k.

Deal economics

• At list price, monthly cash flow is $408 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($904 rent vs $48k).
• Recommended offer: $46k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.6% 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: 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: Anderson Elementary School (math 12% / reading 12%, grade F, #893 of 994 statewide, top 91%, 378 students, 92% FRL); Anderson High School (math 21% / reading 51%, grade F, #261 of 369 statewide, top 71%, 1,790 students, 76% FRL).
• 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); 45% 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 30% 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 $328 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 ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 50 days — a 3% lower offer ($46k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 11y ago; this cycle's ask has dropped $8k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $46,075 (3.0% below list)

Questions for the listing agent

1. It's been on market 50 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 1930 — 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: 1.90% ✓
• Cap rate: 16.61%
• Cash-on-cash: 36.84%
• DSCR: 2.64
• GRM: 4.4

CMA / ARV

• ARV (median comp): $69,142
• List price: $47,500
• Delta: -31.30%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1221 E 22nd St	0.17mi	2/1.0	864 (+4%)	12mo	$65,000	$75	76
1718 Cincinnati Ave	0.30mi	2/1.0	898 (+8%)	4mo	$115,000	$128	70
1739 E 18th St	0.33mi	2/1.0	869 (+4%)	10mo	$30,000	$35	69
1411 Home Ave	0.69mi	3/1.0 (+1)	810 (-3%)	2mo	$71,000	$88	57
2330 Ridgewood Dr	0.73mi	2/1.0	925 (+11%)	12mo	$145,000	$157	37
1423 E 30th St	0.72mi	2/1.0	769 (-8%)	22mo	$90,500	$118	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 · 7.88% rent growth · sell at horizon

5-year hold

• IRR: 38.0%
• Equity multiple: 2.73×
• Total profit: $22,965
• Equity at exit: $7,082

10-year hold

• IRR: 46.8%
• Equity multiple: 6.61×
• Total profit: $74,629
• Equity at exit: $4,107

Cash invested: $13,300 (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: 4.4×

Monthly cashflow live

• Estimated rent: $904 high
• Mortgage (P&I): −$249
• Tax from tax record: −$37 /mo · $445/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$190
• Net cashflow: $408

Break-even live

Break-even rent $387

Max offer price $47,500

Occupancy floor 50%

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: $11,875
• Closing costs: $1,425
• Reserves months: —
• Total cash needed: —

Rent comps 40 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
1719 Johnson Ave Anderson, IN	1.0	1.0	616	$824	$1.34	44d	1	0.31mi
2002 Jefferson St Unit 3 Anderson, IN	1.0	2.0	725	$600	$0.83	44d	1	0.50mi
702 E 23rd St Anderson, IN	1.0	1.0	560	$595	$1.06	15d	1	0.53mi
1710 Jefferson St Apt 2 Anderson, IN	2.0	1.0	550	$950	$1.73	44d	1	0.53mi
1232 E 28th St Anderson, IN	2.0	2.0	795	$950	$1.19	44d	1	0.54mi
1726-1728 Walnut St Anderson, IN	2.0	2.0	900	$995	$1.11	2d	1	0.64mi
1045 Alhambra Dr Unit 6 Anderson, IN	2.0	1.5	900	$975	$1.08	24d	1	0.70mi
1411 Home Ave Anderson, IN	3.0	1.0	810	$1,295	$1.60	24d	1	0.71mi
3009 E Lynn St Unit 1 Anderson, IN	3.0	1.0	1000	$875	$0.88	20d	1	0.75mi
1501 E 31st St Anderson, IN	2.0	1.0	840	$1,199	$1.43	20d	1	0.75mi
1829 E 8th St Anderson, IN	1.0–3.0	1.0	810	$1,025	$1.27	24d	9	0.78mi
2111 Central Ave Anderson, IN	3.0	1.0	1026	$1,250	$1.22	44d	1	0.85mi
3006 Noble St Anderson, IN	2.0	1.0	1064	$995	$0.94	7d	1	0.87mi
917 E 8th St Unit 2 Anderson, IN	2.0	1.0	550	$825	$1.50	7d	1	0.88mi
414 Wheeler Ave Apt B Anderson, IN	1.0	1.0	600	$650	$1.08	44d	1	0.90mi
221 E 13th St Anderson, IN	1.0	1.0	595	$995	$1.67	15d	1	0.93mi
219 E 13th St Anderson, IN	3.0	1.0	882	$1,000	$1.13	4d	1	0.94mi
2505 E 10th St Anderson, IN	1.0–2.0	1.0	850	$949	$1.12	44d	2	0.95mi
223 E 11th St Anderson, IN	2.0	1.0	800	$900	$1.12	44d	1	1.00mi
2625 Main St Anderson, IN	2.0	1.0	988	$895	$0.91	24d	1	1.01mi
3000 Fletcher St Unit 3000 Anderson, IN	2.0	1.0	800	$650	$0.81	44d	1	1.01mi
919 E 6th St Apt 2 Anderson, IN	1.0	1.0	700	$625	$0.89	24d	1	1.02mi
328 E 31st St Anderson, IN	1.0	1.0	600	$750	$1.25	44d	1	1.02mi
1317 Main St Anderson, IN	2.0	1.0	750	$800	$1.07	44d	1	1.03mi
530 Alhambra Dr Anderson, IN	1.0–2.0	1.0	879	$1,100	$1.25	44d	1	1.03mi
2412 E 7th St Anderson, IN	2.0	1.0	600	$895	$1.49	2d	1	1.11mi
2324 Chase St Anderson, IN	2.0	1.0	783	$950	$1.21	44d	1	1.21mi
3614 Columbus Ave Anderson, IN	1.0	1.0	553	$725	$1.31	15d	1	1.23mi
915 High St Unit 915 1/2 Anderson, IN	1.0	1.0	600	$650	$1.08	44d	1	1.29mi
2627 Chase St Anderson, IN	3.0	1.0	1050	$850	$0.81	18d	1	1.30mi
120 W 10th St Anderson, IN	1.0–3.0	1.0	1066	$1,025	$0.96	2d	1	1.31mi
602 Meridian St Apt C Anderson, IN	2.0	1.0	800	$900	$1.12	44d	1	1.34mi
602 Meridian St Unit 608 A Anderson, IN	1.0	1.0	650	$750	$1.15	24d	1	1.34mi
2442 Morton St Anderson, IN	2.0	1.0	862	$1,125	$1.31	24d	1	1.36mi
2904 Lincoln St Anderson, IN	2.0	1.0	864	$900	$1.04	44d	1	1.40mi
608 Ellenhurst Dr Anderson, IN	2.0	1.0	686	$1,100	$1.60	24d	1	1.40mi
618 W 22nd St Anderson, IN	3.0	1.0	900	$1,250	$1.39	44d	1	1.43mi
702 W 23rd St Anderson, IN	1.0	1.0	560	$595	$1.06	4d	1	1.48mi
2301 Sheridan St Anderson, IN	2.0	1.0	900	$950	$1.06	44d	1	1.48mi

Listing history 16 events

1. 2026-06-18
   days on market $47,500 Active 50 DOM
2. 2026-06-17
   days on market $47,500 Active 49 DOM
3. 2026-06-16
   days on market $47,500 Active 48 DOM
4. 2026-06-15
   days on market $47,500 Active 47 DOM
5. 2026-06-13
   days on market $47,500 Active 45 DOM
6. 2026-06-09
   days on market $47,500 Active 41 DOM
7. 2026-06-08
   days on market $47,500 Active 40 DOM
8. 2026-06-07
   days on market $47,500 Active 39 DOM
9. 2026-06-05
   days on market $47,500 Active 36 DOM
10. 2026-06-03
    days on market $47,500 Active 35 DOM
11. 2026-06-02
    days on market $47,500 Active 34 DOM
12. 2026-06-01
    days on market $47,500 Active 33 DOM
13. 2026-05-31
    days on market $47,500 Active 32 DOM
14. 2026-04-28
    listed $55,000 Active 273-char remark
15. 2015-12-14
    historical
16. 2015-10-20
    listed $13,500 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: $445 · $37/mo
• Projected year-2 tax: $445 · $37/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: $10,850
• − Mortgage interest: −$2,661
• − Property taxes: −$445
• − Insurance: −$238
• − Repairs & maintenance: −$868
• − Management: −$868
• − Depreciation: −$1,382
• Taxable income: $4,389
• Est. tax owed @ 24.0%: −$1,053
• After-tax cash flow: $3,846/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

+251.9% since first listed

4 events — show timeline

• 2026-05-22 Price Changed $47,500 MIBOR as Distributed by MLS Grid
• 2026-04-28 Listed $55,000 MIBOR as Distributed by MLS Grid
• 2015-12-14 Listing Removed — MIBOR as Distributed by MLS Grid
• 2015-10-20 Listed $13,500 MIBOR as Distributed by MLS Grid

Property tax history

+6.7%/yr

Latest (2024): $445 · +5.8% YoY. Source: county tax records.