2443 Meridian St · Anderson, IN 46016

$99,900

2 bd · 1.0 ba · 932 sqft · SingleFamily public records · 61 Days on market

Built 1922 5,904 sqft lot $107/sqft · 42% above area Est $70k · 42% over

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Why this score? — see what drove the D 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 +20.2/30.0
• DSCR +6.4/10.0
• Rent growth +4.5/5.0
• 1% rule +4.3/10.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This well-maintained two-bedroom home offers versatility, comfort, and flexibility-along with strong investment potential. The property features numerous updates, including a new furnace (2025), new water heater (2024), updated flooring throughout, and a fully renovated bathroom (2026). A new front door (2025) adds to the home's curb appeal. The spacious two-car garage provides endless possibilities-perfect for a workshop, man cave, home gym, or whatever suits your needs. Conveniently located just minutes from downtown Anderson, Anderson University, and Hoosier Park Casino, this home combines modern updates with a prime location.

Key facts

• New furnace
• New water heater
• Updated flooring

Tags

• NEW FURNACE
• NEW WATER HEATER
• UPDATED FLOORING
• FULLY RENOVATED BATHROOM
• NEW FRONT DOOR
• SPACIOUS GARAGE

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $126 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $93k (7.3% below list).
• Recommended offer: $93k (7.3% below list) — sets the bar for 1% rule.
• Cap rate 7.8% vs local median 6.5% in Anderson — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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 lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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 31% 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 $691 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.
• At projected returns (-3.0% appreciation + 7.9% rent growth), your $28k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 61 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 7y ago; this cycle's ask has dropped $15k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $45k; list at $100k implies a 122% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,640 (7.3% below list)

Questions for the listing agent

1. It's been on market 61 days. Have you received any prior offers? Is the seller open to a 7% concession, seller financing, or rate buy-down credit?
2. Built in 1922 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 0.93% ✗
• Cap rate: 7.81%
• Cash-on-cash: 5.41%
• DSCR: 1.24
• GRM: 9.0

CMA / ARV

• ARV (median comp): $70,284
• List price: $99,900
• Delta: 42.14%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2639 Central Ave	0.19mi	2/1.0	952 (+2%)	8mo	$57,000	$60	80
2505 Lincoln St	0.30mi	2/1.0	900 (-3%)	4mo	$130,000	$144	77
220 E 29th St	0.31mi	2/1.0	924 (-1%)	15mo	$90,000	$97	71
216 W 27th St	0.24mi	1/1.0 (-1)	946 (+2%)	13mo	$25,000	$26	71
2205 Main St	0.22mi	2/1.0	1,036 (+11%)	16mo	$72,000	$69	58
1924 Morton St	0.50mi	2/1.0	858 (-8%)	8mo	$109,900	$128	57
115 South Dr	0.74mi	2/1.0	886 (-5%)	6mo	$90,000	$102	52
1610 Central Ave	0.64mi	2/1.0	975 (+5%)	15mo	$50,000	$51	50
2226 Hendricks St	0.62mi	2/1.0	990 (+6%)	15mo	$70,000	$71	48
1541 Walnut St	0.70mi	3/1.0 (+1)	1,032 (+11%)	0mo	$47,398	$46	44
300 E 34th St	0.74mi	2/1.0	832 (-11%)	11mo	$130,000	$156	39
826 E 31st St	0.71mi	2/1.0	1,056 (+13%)	8mo	$132,500	$125	38

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: -3.1%
• Equity multiple: 0.88×
• Total profit: $-3,419
• Equity at exit: $14,895

10-year hold

• IRR: 11.0%
• Equity multiple: 2.03×
• Total profit: $28,881
• Equity at exit: $8,638

Cash invested: $27,972 (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: 9.0×

Monthly cashflow live

• Estimated rent: $926 high
• Mortgage (P&I): −$524
• Tax from tax record: −$40 /mo · $482/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$195
• Net cashflow: $126

Break-even live

Break-even rent $767

Max offer price $99,900

Occupancy floor 81%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2625 Main St Anderson, IN	2.0	1.0	988	$895	$0.91	23d	1	0.12mi
2324 Chase St Anderson, IN	2.0	1.0	783	$950	$1.21	43d	1	0.27mi
2627 Chase St Anderson, IN	3.0	1.0	1050	$850	$0.81	17d	1	0.28mi
2111 Central Ave Anderson, IN	3.0	1.0	1026	$1,250	$1.22	43d	1	0.30mi
2442 Morton St Anderson, IN	2.0	1.0	862	$1,125	$1.31	23d	1	0.36mi
3000 Fletcher St Unit 3000 Anderson, IN	2.0	1.0	800	$650	$0.81	43d	1	0.38mi
2904 Lincoln St Anderson, IN	2.0	1.0	864	$900	$1.04	43d	1	0.40mi
328 E 31st St Anderson, IN	1.0	1.0	600	$750	$1.25	43d	1	0.45mi
2820 Fairview St Unit A Anderson, IN	2.0	1.0	850	$895	$1.05	43d	1	0.48mi
702 E 23rd St Anderson, IN	1.0	1.0	560	$595	$1.06	14d	1	0.49mi
3006 Noble St Anderson, IN	2.0	1.0	1064	$995	$0.94	7d	1	0.53mi
618 W 22nd St Anderson, IN	3.0	1.0	900	$1,250	$1.39	43d	1	0.54mi
2301 Sheridan St Anderson, IN	2.0	1.0	900	$950	$1.06	43d	1	0.54mi
702 W 23rd St Anderson, IN	1.0	1.0	560	$595	$1.06	4d	1	0.55mi
2002 Jefferson St Unit 3 Anderson, IN	1.0	2.0	725	$600	$0.83	43d	1	0.60mi
1726-1728 Walnut St Anderson, IN	2.0	2.0	900	$995	$1.11	1d	1	0.62mi
2411 Hendricks St Anderson, IN	3.0	1.0	860	$1,000	$1.16	23d	1	0.64mi
2208 Hendricks St Unit 3 Anderson, IN	1.0	1.0	585	$675	$1.15	43d	1	0.65mi
1710 Jefferson St Apt 2 Anderson, IN	2.0	1.0	550	$950	$1.73	43d	1	0.71mi
2233 E Lynn St Anderson, IN	1.0	1.0	700	$695	$0.99	1d	1	0.71mi
3009 E Lynn St Unit 1 Anderson, IN	3.0	1.0	1000	$875	$0.88	20d	1	0.77mi
1317 Main St Anderson, IN	2.0	1.0	750	$800	$1.07	43d	1	0.81mi
1232 E 28th St Anderson, IN	2.0	2.0	795	$950	$1.19	43d	1	0.83mi
221 E 13th St Anderson, IN	1.0	1.0	595	$995	$1.67	14d	1	0.84mi
219 E 13th St Anderson, IN	3.0	1.0	882	$1,000	$1.13	3d	1	0.84mi
1411 Home Ave Anderson, IN	3.0	1.0	810	$1,295	$1.60	23d	1	0.88mi
1719 Johnson Ave Anderson, IN	1.0	1.0	616	$824	$1.34	43d	1	0.93mi
223 E 11th St Anderson, IN	2.0	1.0	800	$900	$1.12	43d	1	0.98mi
414 Wheeler Ave Apt B Anderson, IN	1.0	1.0	600	$650	$1.08	43d	1	0.99mi
1502 Cedar St Anderson, IN	2.0	1.0	1104	$850	$0.77	43d	1	1.00mi
1501 E 31st St Anderson, IN	2.0	1.0	840	$1,199	$1.43	20d	1	1.04mi
3614 Columbus Ave Anderson, IN	1.0	1.0	553	$725	$1.31	14d	1	1.06mi
120 W 10th St Anderson, IN	1.0–3.0	1.0	1066	$1,025	$0.96	1d	1	1.07mi
803 1/2 W 9th St Anderson, IN	1.0	1.0	600	$525	$0.88	43d	1	1.19mi
1614 W 18th St Anderson, IN	2.0	1.0	690	$975	$1.41	23d	1	1.21mi
4015 Haverhill Dr Anderson, IN	3.0	2.0	884	$1,100	$1.24	43d	1	1.21mi
2004 Arrow Ave Anderson, IN	2.0	1.0	816	$1,125	$1.38	23d	1	1.23mi
1222 Nichol Ave Unit 4 Anderson, IN	3.0	1.0	1000	$1,135	$1.14	7d	1	1.24mi
1616 W 16th St Anderson, IN	2.0	1.0	1038	$1,050	$1.01	43d	1	1.26mi
1640 W 17th St Anderson, IN	2.0	1.0	810	$895	$1.10	20d	1	1.28mi

Listing history 27 events

1. 2026-06-19
   price $99,900 Active 61 DOM
2. 2026-06-18
   days on market $105,000 Active 61 DOM
3. 2026-06-17
   days on market $105,000 Active 60 DOM
4. 2026-06-16
   days on market $105,000 Active 59 DOM
5. 2026-06-15
   days on market $105,000 Active 58 DOM
6. 2026-06-13
   days on market $105,000 Active 56 DOM
7. 2026-06-09
   days on market $105,000 Active 52 DOM
8. 2026-06-08
   days on market $105,000 Active 51 DOM
9. 2026-06-07
   days on market $105,000 Active 50 DOM
10. 2026-06-05
    days on market $105,000 Active 47 DOM
11. 2026-06-03
    days on market $105,000 Active 46 DOM
12. 2026-06-02
    days on market $105,000 Active 45 DOM
13. 2026-06-01
    days on market $105,000 Active 44 DOM
14. 2026-05-31
    days on market $105,000 Active 43 DOM
15. 2026-04-28
    price $105,000 643-char remark

    Show marketing remark (643 chars)

    This well-maintained two-bedroom home offers versatility, comfort, and flexibility-along with strong investment potential. The property features numerous updates, including a new furnace (2025), new water heater (2024), updated flooring throughout, and a fully renovated bathroom (2026). A new front door (2025) adds to the home's curb appeal. The spacious two-car garage provides endless possibilities-perfect for a workshop, man cave, home gym, or whatever suits your needs. Conveniently located just minutes from downtown Anderson, Anderson University, and Hoosier Park Casino, this home combines modern updates with a prime location.

16. 2026-04-17
    listed $115,000 Active 643-char remark

    Show marketing remark (643 chars)

    This well-maintained two-bedroom home offers versatility, comfort, and flexibility-along with strong investment potential. The property features numerous updates, including a new furnace (2025), new water heater (2024), updated flooring throughout, and a fully renovated bathroom (2026). A new front door (2025) adds to the home's curb appeal. The spacious two-car garage provides endless possibilities-perfect for a workshop, man cave, home gym, or whatever suits your needs. Conveniently located just minutes from downtown Anderson, Anderson University, and Hoosier Park Casino, this home combines modern updates with a prime location.

17. 2026-03-13
    historical
18. 2026-02-07
    price $74,995
19. 2026-01-13
    price $79,995
20. 2025-12-12
    listed $89,995 Active
21. 2023-11-03
    soldstatus $45,000 Closed
22. 2023-10-18
    status Pending
23. 2023-09-26
    listed $50,000 Active
24. 2020-02-04
    soldstatus $18,500 Sold
25. 2020-01-10
    status Pending
26. 2019-11-01
    price $22,000
27. 2019-06-12
    listed $29,900 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: $482 · $40/mo
• Projected year-2 tax: $666 · $55/mo
• Expected delta: +$183/yr (+$15/mo · 38.0%)

ⓘ 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
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,117
• − Mortgage interest: −$5,596
• − Property taxes: −$482
• − Insurance: −$500
• − Repairs & maintenance: −$889
• − Management: −$889
• − Depreciation: −$2,906
• Taxable loss: −$146
• Est. tax savings @ 24.0%: +$35
• After-tax cash flow: $1,549/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

+251.2% since first listed

13 events — show timeline

• 2026-04-28 Price Changed $105,000 MIBOR as Distributed by MLS Grid
• 2026-04-17 Listed $115,000 MIBOR as Distributed by MLS Grid
• 2026-03-13 Listing Removed — MIBOR as Distributed by MLS Grid
• 2026-02-07 Price Changed $74,995 MIBOR as Distributed by MLS Grid
• 2026-01-13 Price Changed $79,995 MIBOR as Distributed by MLS Grid
• 2025-12-12 Listed $89,995 MIBOR as Distributed by MLS Grid
• 2023-11-03 Sold (MLS) $45,000 MIBOR as Distributed by MLS Grid
• 2023-10-18 Pending — MIBOR as Distributed by MLS Grid
• 2023-09-26 Listed $50,000 MIBOR as Distributed by MLS Grid
• 2020-02-04 Sold (MLS) $18,500 MIBOR as Distributed by MLS Grid
• 2020-01-10 Pending — MIBOR as Distributed by MLS Grid
• 2019-11-01 Price Changed $22,000 MIBOR as Distributed by MLS Grid
• 2019-06-12 Listed $29,900 MIBOR as Distributed by MLS Grid

Property tax history

-2.8%/yr

Latest (2024): $482 · +9.5% YoY. Source: county tax records.