328 W 53rd St · Anderson, IN 46013

$38,500

3 bd · 2.0 ba · 1,024 sqft · Land · 263 Days on market

Built 2020 22 ac lot $38/sqft · 79% below area

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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 MLS

1995 holy park mobile home. Home is in good condition. There are updates done. In anderson manufatured home community. lot rent 450 includes trash.

Key facts

• 8x10 back deck
• Dogs allowed
• 8x10 shed

Tags

• DOGS ALLOWED
• 8X10 SHED
• 8X10 BACK DECK

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath land listed at $38k.

Deal economics

• At list price, monthly cash flow is $636 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $38k).
• Recommended offer: $34k (12.0% below list) — sets the bar for market timing.
• Cap rate 26.1% 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: 150 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals leasing fast (median 8d on market — plan ~1-2 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 $266 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 + 3.0% rent growth), your $11k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 263 days — a 12% lower offer ($34k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask is 285% above the opening price — seller raised mid-cycle; expect resistance to lowballs.

Recommended offer $33,880 (12.0% below list)

Questions for the listing agent

1. It's been on market 263 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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: 2.96% ✓
• Cap rate: 26.10%
• Cash-on-cash: 70.74%
• DSCR: 4.15
• GRM: 2.8

CMA / ARV

• ARV (median comp): $180,414
• List price: $38,500
• Delta: -78.66%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 70.3%
• Equity multiple: 4.18×
• Total profit: $34,255
• Equity at exit: $5,740

10-year hold

• IRR: 74.3%
• Equity multiple: 8.61×
• Total profit: $82,019
• Equity at exit: $3,329

Cash invested: $10,780 (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: 2.8×

Monthly cashflow live

• Estimated rent: $1,141 high
• Mortgage (P&I): −$202
• Tax est. 1.5%: −$48 /mo · $578/yr
• Insurance: −$16
• HOA: −$0
• Vacancy / Maint / Mgmt: −$240
• Net cashflow: $636

Break-even live

Break-even rent $337

Max offer price $38,500

Occupancy floor 39%

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: $9,625
• Closing costs: $1,155
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
417 E 55th St Anderson, IN	2.0	1.0	724	$1,100	$1.52	22d	1	0.55mi
4015 Haverhill Dr Anderson, IN	3.0	2.0	884	$1,100	$1.24	44d	1	0.73mi
4021 Brown St Anderson, IN	2.0	1.0	1320	$975	$0.74	8d	1	0.76mi
4325 S Madison Ave Anderson, IN	1.0–3.0	1.0–1.5	995	$1,330	$1.34	2d	6	0.79mi
4426 Mellen Ct Anderson, IN	2.0	1.0	899	$900	$1.00	2d	1	0.80mi
812 Mellen Dr Unit 814 Anderson, IN	2.0	1.0	924	$950	$1.03	2d	1	0.92mi
4415 Columbus Ave Apt 15 Anderson, IN	2.0	1.0	800	$800	$1.00	2d	1	0.98mi
1326 McIntosh Ct Anderson, IN	1.0–3.0	1.0–2.0	856	$1,450	$1.69	2d	10	1.20mi
5514 Arbor Dr Anderson, IN	1.0–2.0	1.0	723	$830	$1.15	11d	3	1.21mi
1626 Lora St Anderson, IN	3.0	2.0	1352	$1,295	$0.96	44d	1	1.25mi

Listing history 19 events

1. 2026-06-18
   days on market $38,500 Active 263 DOM
2. 2026-06-17
   days on market $38,500 Active 262 DOM
3. 2026-06-16
   days on market $38,500 Active 261 DOM
4. 2026-06-16
   remarks 520-char remark
5. 2026-06-16
   pricedays on marketlisting id $38,500 Active 260 DOM
6. 2026-06-15
   days on market $10,000 Active 31 DOM
7. 2026-06-13
   days on market $10,000 Active 29 DOM
8. 2026-06-09
   days on market $10,000 Active 25 DOM
9. 2026-06-08
   days on market $10,000 Active 24 DOM
10. 2026-06-07
    days on market $10,000 Active 23 DOM
11. 2026-06-05
    days on market $10,000 Active 20 DOM
12. 2026-06-03
    days on market $10,000 Active 19 DOM
13. 2026-06-02
    days on market $10,000 Active 18 DOM
14. 2026-06-01
    days on market $10,000 Active 17 DOM
15. 2026-05-31
    days on market $10,000 Active 16 DOM
16. 2026-05-15
    listed $10,000 Active 147-char remark

    Show marketing remark (147 chars)

    1995 holy park mobile home. Home is in good condition. There are updates done. In anderson manufatured home community. lot rent 450 includes trash.

17. 2025-10-08
    price $38,500 520-char remark

    Show marketing remark (520 chars)

    I am selling my 2020, 3 bed 2 bath trailer located in Anderson, In trailer park can not be moved for 5 years lot rent is 439 dogs are allowed based on breed will need to fill out application for trailer park approvement. Not looking to rent out need to sell. Please message for any questions would like to sell by Nov/ Dec. Nice trailer park good management. Trailer will come with 8x10 shed and 8x 10 back deck nice area to just sit out side. We are still in home working on downsizing now. Please message for viewing.

18. 2025-09-28
    listed $38,900 Active 520-char remark

    Show marketing remark (520 chars)

    I am selling my 2020, 3 bed 2 bath trailer located in Anderson, In trailer park can not be moved for 5 years lot rent is 439 dogs are allowed based on breed will need to fill out application for trailer park approvement. Not looking to rent out need to sell. Please message for any questions would like to sell by Nov/ Dec. Nice trailer park good management. Trailer will come with 8x10 shed and 8x 10 back deck nice area to just sit out side. We are still in home working on downsizing now. Please message for viewing.

19. 2022-03-15
    price $380

ⓘ 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 · 17 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: $13,695
• − Mortgage interest: −$2,157
• − Property taxes: −$578
• − Insurance: −$192
• − Repairs & maintenance: −$1,096
• − Management: −$1,096
• − Depreciation: −$1,120
• Taxable income: $7,457
• Est. tax owed @ 24.0%: −$1,790
• After-tax cash flow: $5,837/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

-74.3% since first listed

4 events — show timeline

• 2026-05-15 Listed $10,000 FSBO.com
• 2025-10-08 Price Changed $38,500 ForSaleByOwner.com
• 2025-09-28 Listed $38,900 ForSaleByOwner.com
• 2022-03-15 Price Changed $380 RENT.

Property tax history

+2.0%/yr

Latest (2024): $9,613 · -4.2% YoY. Source: county tax records.