1902 Edgemont Way · Anderson, IN 46011

$109,900

3 bd · 1.0 ba · 925 sqft · SingleFamily public records · 69 Days on market

Built 1970 7,176 sqft lot $119/sqft · 13% below area Est $127k · 13% under

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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 +19.6/30.0
• ARV discount +13.6/15.0
• DSCR +6.2/10.0
• 1% rule +5.1/10.0
• 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 MLS

Ranch style home in sought after neighborhood. Great access to shopping, schools, and amenities. Newly run fiber internet access in neighborhood. Corner lot with mature trees, storage shed, and off-street parking. Tremendous value with plenty of upside. Open layout with spacious rooms. Newer updates include high-efficiency HVAC system, replacement vinyl windows, LVP flooring, shaker cabinets and stone-pattern countertops. This is move-in ready and a must see!

Key facts

• Storage shed
• Off-street parking
• Corner lot

Tags

• FIBER INTERNET ACCESS
• CORNER LOT
• MATURE TREES
• STORAGE SHED
• OFF-STREET PARKING
• HIGH-EFFICIENCY HVAC SYSTEM

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $126 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.

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: 107 active listings in the ZIP; 4 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $760 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

• It's been on market 69 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 18y 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.
• Current owner paid $57k; list at $110k implies a 93% gain — meaningful room to come down on a strong offer.

Recommended offer $103,306 (6.0% below list)

Questions for the listing agent

1. It's been on market 69 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1970 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.01% ✓
• Cap rate: 7.67%
• Cash-on-cash: 4.91%
• DSCR: 1.22
• GRM: 8.3

CMA / ARV

• ARV (median comp): $127,004
• List price: $109,900
• Delta: -13.47%
• 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
1902 Edgemont Way	0.00mi	3/1.0	925 (0%)	1mo	$105,000	$114	99
1819 W Fairlawn Way	0.09mi	3/1.0	925 (0%)	2mo	$147,500	$159	94
1832 Norwood Way	0.17mi	3/1.0	925 (0%)	2mo	$153,000	$165	90
2311 S Fairlawn Way	0.11mi	3/1.0	925 (0%)	8mo	$147,000	$159	88
1828 Norwood Way	0.17mi	3/1.0	975 (+5%)	1mo	$153,400	$157	82
1908 Edgemont Way	0.09mi	3/1.0	950 (+3%)	12mo	$129,000	$136	81
1914 E Balsam Ct	0.27mi	3/1.0	910 (-2%)	9mo	$150,000	$165	77
1903 Norwood Pl	0.19mi	2/1.0 (-1)	975 (+5%)	1mo	$140,000	$144	76
2167 Jackson Ln	0.41mi	2/1.0 (-1)	936 (+1%)	1mo	$62,000	$66	73
2320 Woodbine Dr	0.36mi	3/1.0	950 (+3%)	9mo	$150,000	$158	71
1734 Bittersweet Dr	0.28mi	3/1.0	1,015 (+10%)	13mo	$175,007	$172	60
1305 Woodbine Dr	0.40mi	3/2.0	999 (+8%)	15mo	$150,000	$150	52

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: -8.7%
• Equity multiple: 0.68×
• Total profit: $-9,778
• Equity at exit: $16,386

10-year hold

• IRR: 0.9%
• Equity multiple: 1.06×
• Total profit: $1,853
• Equity at exit: $9,502

Cash invested: $30,772 (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 46011

• Home prices YoY: -25.0%
• Active inventory: 107
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,106 medium
• Mortgage (P&I): −$576
• Tax from tax record: −$126 /mo · $1,507/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $126

Break-even live

Break-even rent $946

Max offer price $109,900

Occupancy floor 84%

Sensitivity live

Price	-10% $188	-5% $157	+0% $126	+5% $95	+10% $64
Rent	-10% $39	-5% $82	+0% $126	+5% $170	+10% $213
Rate	-1.0pp $181	-0.5pp $154	base $126	+0.5pp $97	+1.0pp $68

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 4 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1724 Greenwood Dr Anderson, IN	3.0	1.5	950	$1,025	$1.08	45d	1	0.27mi
1321 Lafayette Ct Anderson, IN	3.0	1.5	962	$1,350	$1.40	11d	1	1.43mi
235 W School St Unit 235 Anderson, IN	3.0	1.0	925	$1,200	$1.30	45d	1	1.47mi
1529 W 2nd St Anderson, IN	3.0	1.0	884	$1,200	$1.36	25d	1	1.48mi

Listing history 10 events

1. 2026-06-05
   statusdays on marketlisting id $109,900 Active 69 DOM
2. 2026-05-15
   status Pending 463-char remark

   Show marketing remark (463 chars)

   Ranch style home in sought after neighborhood. Great access to shopping, schools, and amenities. Newly run fiber internet access in neighborhood. Corner lot with mature trees, storage shed, and off-street parking. Tremendous value with plenty of upside. Open layout with spacious rooms. Newer updates include high-efficiency HVAC system, replacement vinyl windows, LVP flooring, shaker cabinets and stone-pattern countertops. This is move-in ready and a must see!

3. 2026-03-27
   listed $109,900 Active 463-char remark

   Show marketing remark (463 chars)

   Ranch style home in sought after neighborhood. Great access to shopping, schools, and amenities. Newly run fiber internet access in neighborhood. Corner lot with mature trees, storage shed, and off-street parking. Tremendous value with plenty of upside. Open layout with spacious rooms. Newer updates include high-efficiency HVAC system, replacement vinyl windows, LVP flooring, shaker cabinets and stone-pattern countertops. This is move-in ready and a must see!

4. 2026-03-27
   listed $109,900 Active 463-char remark

   Show marketing remark (463 chars)

   Ranch style home in sought after neighborhood. Great access to shopping, schools, and amenities. Newly run fiber internet access in neighborhood. Corner lot with mature trees, storage shed, and off-street parking. Tremendous value with plenty of upside. Open layout with spacious rooms. Newer updates include high-efficiency HVAC system, replacement vinyl windows, LVP flooring, shaker cabinets and stone-pattern countertops. This is move-in ready and a must see!

5. 2025-08-23
   historical
6. 2025-03-24
   price $159,900
7. 2025-03-24
   status Active
8. 2024-09-24
   listed $149,000 Active
9. 2008-05-02
   soldstatus $57,000
10. 2008-02-19
    listed $58,500

ⓘ 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: $1,507 · $126/mo
• Projected year-2 tax: $1,507 · $126/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: $13,270
• − Mortgage interest: −$6,156
• − Property taxes: −$1,507
• − Insurance: −$550
• − Repairs & maintenance: −$1,062
• − Management: −$1,062
• − Depreciation: −$3,197
• Taxable loss: −$262
• Est. tax savings @ 24.0%: +$63
• After-tax cash flow: $1,574/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
• City population: 57,762
• Population (ZIP): 17,115

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 (79%)
• Race & ethnicity: White 79% Black 8% Hispanic / Latino 6% Two or more races 6%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Italian 2% Iranian 1% Slovak 1%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 3%

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: ▼ -90.13%
• Current HPI: 270.0253
• Rent YoY: —
• Metro: —
• 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

+87.9% since first listed

9 events — show timeline

• 2026-05-15 Pending — MIBOR as Distributed by MLS Grid
• 2026-03-27 Listed $109,900 IRMLS
• 2026-03-27 Listed $109,900 MIBOR as Distributed by MLS Grid
• 2025-08-23 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-03-24 Price Changed $159,900 MIBOR as Distributed by MLS Grid
• 2025-03-24 Relisted — MIBOR as Distributed by MLS Grid
• 2024-09-24 Listed $149,000 MIBOR as Distributed by MLS Grid
• 2008-05-02 Sold (MLS) $57,000 MIBOR as Distributed by MLS Grid
• 2008-02-19 Listed $58,500 MIBOR as Distributed by MLS Grid

Property tax history

+14.9%/yr

Latest (2024): $1,507 · +144.5% YoY. Source: county tax records.