812 Chestnut St · Anderson, IN 46012

$76,000

3 bd · 1.0 ba · 1,287 sqft · SingleFamily public records · 82 Days on market

Built 1899 3,049 sqft lot $59/sqft · 30% below area Est $130k · 42% 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 +3.0/5.0
• Livability +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Location. Price. Opportunity. Just a 5-minute walk (2-minute drive) to Anderson University, this 3-bedroom, 2-bath home puts you in one of Anderson's most walkable and desirable corridors. Priced at $125,000, this is a rare chance for a first-time buyer to step into ownership and start building equity instead of paying rent. Homes with three bedrooms and two full baths - this close to campus - do not come to market often at this price. Minutes from downtown Anderson's shopping, dining, and entertainment, and convenient to Ascension St. Vincent Anderson, the location supports both everyday living and long-term value. Inside, the practical layout offers flexibility for guests, a home office, or shared living, with two full bathrooms providing added comfort. The manageable lot keeps maintenance simple while giving you space to personalize. Walkable to campus. Affordable entry point. Future flexibility built in. Homes in this price range near Anderson University move quickly - schedule your showing today.

Key facts

• Manageable lot
• Walkable to campus
• Two full bathrooms

Tags

• TWO FULL BATHROOMS
• MANAGEABLE LOT
• WALKABLE TO CAMPUS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $76k.

Deal economics

• At list price, monthly cash flow is $374 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $76k).
• Recommended offer: $71k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.2% 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: Rents rising (+1.8%/yr); 159 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 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 $525 of loan paydown is wiped out by about $2k 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 + 1.8% rent growth), your $21k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 82 days — a 6% lower offer ($71k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 15y ago; this cycle's ask has dropped $49k (39%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1899 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $71,440 (6.0% below list)

Questions for the listing agent

1. It's been on market 82 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 1899 — 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: 1.55% ✓
• Cap rate: 12.20%
• Cash-on-cash: 21.11%
• DSCR: 1.94
• GRM: 5.4

CMA / ARV

• ARV (median comp): $130,129
• List price: $76,000
• Delta: -41.60%
• 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
1300 E 7th St	0.12mi	2/1.0 (-1)	1,242 (-4%)	3mo	$160,000	$129	81
913 Cottage Ave	0.21mi	2/1.0 (-1)	1,288 (+0%)	4mo	$28,765	$22	81
1612 E 7th St	0.35mi	3/2.0	1,359 (+6%)	6mo	$192,000	$141	65
1009 Chestnut St	0.16mi	2/1.0 (-1)	1,416 (+10%)	9mo	$115,000	$81	64
503 Central Ave	0.39mi	2/2.0 (-1)	1,346 (+5%)	3mo	$110,000	$82	63
916 Alhambra Dr	0.53mi	3/1.0	1,199 (-7%)	3mo	$155,000	$129	61
803 Cottage Ave	0.20mi	3/2.0	1,479 (+15%)	2mo	$104,000	$70	60
1708 Falls Ct	0.57mi	2/2.0 (-1)	1,312 (+2%)	4mo	$160,000	$122	58
1525 Home Ave	0.51mi	2/1.0 (-1)	1,209 (-6%)	5mo	$137,000	$113	57
2216 E 6th St	0.72mi	2/1.0 (-1)	1,337 (+4%)	7mo	$115,000	$86	50
1822 E 6th St	0.48mi	2/1.0 (-1)	1,159 (-10%)	12mo	$136,000	$117	46
1611 Johnson Ave	0.53mi	2/1.0 (-1)	1,104 (-14%)	2mo	$25,000	$23	45

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 · 1.82% rent growth · sell at horizon

5-year hold

• IRR: 12.2%
• Equity multiple: 1.48×
• Total profit: $10,188
• Equity at exit: $11,332

10-year hold

• IRR: 20.2%
• Equity multiple: 2.61×
• Total profit: $34,194
• Equity at exit: $6,571

Cash invested: $21,280 (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 46012

• Home prices YoY: -18.6%
• Rents YoY: 1.8%
• Active inventory: 159
• Price-to-rent: 5.4×

Monthly cashflow live

• Estimated rent: $1,176 high
• Mortgage (P&I): −$399
• Tax from tax record: −$124 /mo · $1,491/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$247
• Net cashflow: $374

Break-even live

Break-even rent $702

Max offer price $76,000

Occupancy floor 63%

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: $19,000
• Closing costs: $2,280
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1023 E 8th St Unit 3 Anderson, IN	2.0	1.5	1200	$1,175	$0.98	7d	1	0.06mi
706 University Blvd Anderson, IN	2.0	1.0	1250	$1,050	$0.84	1d	1	0.45mi
1829 E 8th St Anderson, IN	1.0–3.0	1.0	810	$1,250	$1.54	23d	9	0.49mi
1045 Alhambra Dr Unit 6 Anderson, IN	2.0	1.5	900	$975	$1.08	23d	1	0.54mi
530 Alhambra Dr Anderson, IN	1.0–2.0	1.0	879	$1,100	$1.25	43d	1	0.58mi
219 E 13th St Anderson, IN	3.0	1.0	882	$1,000	$1.13	3d	1	0.68mi
1726-1728 Walnut St Anderson, IN	2.0	2.0	900	$995	$1.11	1d	1	0.77mi
2023 McKinley St Anderson, IN	2.0	1.0	1500	$950	$0.63	43d	1	0.85mi
120 W 10th St Anderson, IN	1.0–3.0	1.0	1066	$1,150	$1.08	1d	1	0.88mi
2505 E 10th St Anderson, IN	1.0–2.0	1.0	850	$949	$1.12	43d	2	0.96mi
2111 Central Ave Anderson, IN	3.0	1.0	1026	$1,250	$1.22	43d	1	1.10mi
510 W 5th St Anderson, IN	3.0	1.5	1617	$995	$0.62	43d	1	1.15mi
506 W 2nd St Anderson, IN	3.0	1.0	964	$1,095	$1.14	23d	1	1.18mi
229 W 19th St Anderson, IN	3.0	1.0	1200	$1,000	$0.83	43d	1	1.23mi
820 W 7th St Apt A Anderson, IN	2.0	2.0	1400	$1,200	$0.86	23d	1	1.30mi
535 Woodlawn Dr Anderson, IN	4.0	1.5	1128	$1,295	$1.15	23d	1	1.31mi
1318 E 28th St Anderson, IN	3.0	1.0	1280	$1,300	$1.02	11d	1	1.35mi
921 W 9th St Anderson, IN	3.0	2.0	1611	$1,375	$0.85	23d	1	1.38mi
2625 Main St Anderson, IN	2.0	1.0	988	$895	$0.91	23d	1	1.45mi

Listing history 15 events

1. 2026-06-02
   price $76,000 Pending 82 DOM
2. 2026-05-11
   status Pending 1016-char remark

   Show marketing remark (1016 chars)

   Location. Price. Opportunity. Just a 5-minute walk (2-minute drive) to Anderson University, this 3-bedroom, 2-bath home puts you in one of Anderson's most walkable and desirable corridors. Priced at $125,000, this is a rare chance for a first-time buyer to step into ownership and start building equity instead of paying rent. Homes with three bedrooms and two full baths - this close to campus - do not come to market often at this price. Minutes from downtown Anderson's shopping, dining, and entertainment, and convenient to Ascension St. Vincent Anderson, the location supports both everyday living and long-term value. Inside, the practical layout offers flexibility for guests, a home office, or shared living, with two full bathrooms providing added comfort. The manageable lot keeps maintenance simple while giving you space to personalize. Walkable to campus. Affordable entry point. Future flexibility built in. Homes in this price range near Anderson University move quickly - schedule your showing today.

3. 2026-05-11
   price $106,000 1016-char remark

   Show marketing remark (1016 chars)

   Location. Price. Opportunity. Just a 5-minute walk (2-minute drive) to Anderson University, this 3-bedroom, 2-bath home puts you in one of Anderson's most walkable and desirable corridors. Priced at $125,000, this is a rare chance for a first-time buyer to step into ownership and start building equity instead of paying rent. Homes with three bedrooms and two full baths - this close to campus - do not come to market often at this price. Minutes from downtown Anderson's shopping, dining, and entertainment, and convenient to Ascension St. Vincent Anderson, the location supports both everyday living and long-term value. Inside, the practical layout offers flexibility for guests, a home office, or shared living, with two full bathrooms providing added comfort. The manageable lot keeps maintenance simple while giving you space to personalize. Walkable to campus. Affordable entry point. Future flexibility built in. Homes in this price range near Anderson University move quickly - schedule your showing today.

4. 2026-05-04
   price $114,900 1016-char remark

   Show marketing remark (1016 chars)

   Location. Price. Opportunity. Just a 5-minute walk (2-minute drive) to Anderson University, this 3-bedroom, 2-bath home puts you in one of Anderson's most walkable and desirable corridors. Priced at $125,000, this is a rare chance for a first-time buyer to step into ownership and start building equity instead of paying rent. Homes with three bedrooms and two full baths - this close to campus - do not come to market often at this price. Minutes from downtown Anderson's shopping, dining, and entertainment, and convenient to Ascension St. Vincent Anderson, the location supports both everyday living and long-term value. Inside, the practical layout offers flexibility for guests, a home office, or shared living, with two full bathrooms providing added comfort. The manageable lot keeps maintenance simple while giving you space to personalize. Walkable to campus. Affordable entry point. Future flexibility built in. Homes in this price range near Anderson University move quickly - schedule your showing today.

5. 2026-02-16
   listed $125,000 Active 1016-char remark

   Show marketing remark (1016 chars)

   Location. Price. Opportunity. Just a 5-minute walk (2-minute drive) to Anderson University, this 3-bedroom, 2-bath home puts you in one of Anderson's most walkable and desirable corridors. Priced at $125,000, this is a rare chance for a first-time buyer to step into ownership and start building equity instead of paying rent. Homes with three bedrooms and two full baths - this close to campus - do not come to market often at this price. Minutes from downtown Anderson's shopping, dining, and entertainment, and convenient to Ascension St. Vincent Anderson, the location supports both everyday living and long-term value. Inside, the practical layout offers flexibility for guests, a home office, or shared living, with two full bathrooms providing added comfort. The manageable lot keeps maintenance simple while giving you space to personalize. Walkable to campus. Affordable entry point. Future flexibility built in. Homes in this price range near Anderson University move quickly - schedule your showing today.

6. 2022-11-06
   status Active
7. 2022-09-20
   status Pending
8. 2022-07-29
   listed $125,000 Active
9. 2015-12-03
   historical
10. 2015-09-28
    price $32,500
11. 2015-06-23
    listed $35,000 Active
12. 2012-12-08
    historical
13. 2012-06-08
    listed $48,000
14. 2011-07-12
    historical
15. 2011-01-11
    listed $54,900

ⓘ 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: $1,491 · $124/mo
• Projected year-2 tax: $1,491 · $124/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: $14,110
• − Mortgage interest: −$4,257
• − Property taxes: −$1,491
• − Insurance: −$380
• − Repairs & maintenance: −$1,129
• − Management: −$1,129
• − Depreciation: −$2,211
• Taxable income: $3,513
• Est. tax owed @ 24.0%: −$843
• After-tax cash flow: $3,650/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): 20,855
• Household income: $58,041
• Rent vs Own: 32.3% rent · 67.7% own
• Severe rent burden: 987.0

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 (85%)
• Race & ethnicity: White 85% Hispanic / Latino 5% Two or more races 4% Black 4%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Slovak 3% Serbian 2% Italian 1%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 96% 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: ▼ -61.16%
• Current HPI: 266.9819
• Rent YoY: ▲ 1.82%
• 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

+93.1% since first listed

14 events — show timeline

• 2026-05-11 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-11 Price Changed $106,000 MIBOR as Distributed by MLS Grid
• 2026-05-04 Price Changed $114,900 MIBOR as Distributed by MLS Grid
• 2026-02-16 Listed $125,000 MIBOR as Distributed by MLS Grid
• 2022-11-06 Relisted — MIBOR as Distributed by MLS Grid
• 2022-09-20 Pending — MIBOR as Distributed by MLS Grid
• 2022-07-29 Listed $125,000 MIBOR as Distributed by MLS Grid
• 2015-12-03 Listing Removed — MIBOR as Distributed by MLS Grid
• 2015-09-28 Price Changed $32,500 MIBOR as Distributed by MLS Grid
• 2015-06-23 Listed $35,000 MIBOR as Distributed by MLS Grid
• 2012-12-08 Listing Removed — MIBOR as Distributed by MLS Grid
• 2012-06-08 Listed $48,000 MIBOR as Distributed by MLS Grid
• 2011-07-12 Listing Removed — MIBOR as Distributed by MLS Grid
• 2011-01-11 Listed $54,900 MIBOR as Distributed by MLS Grid

Property tax history

+5.1%/yr

Latest (2024): $1,491 · +8.7% YoY. Source: county tax records.