705 E 27th St · Anderson, IN 46016

$68,900

2 bd · 1.0 ba · 768 sqft · SingleFamily public records · 17 Days on market

Built 1933 5,000 sqft lot Est $81k · 15% 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 +29.4/30.0
• ARV discount +14.4/15.0
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• 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 MLS

2 BEDROOM, 1 BATH HOME WOULD BE A GREAT STARTER HOME OR RETIREMENT HOME. NEEDS LITTLE TLC!! PROPERTY TO BE SOLD "AS-IS". ALL OFFERS SUBJECT TO CORP/INVESTOR APPROVAL AND CONTINGENT OF SIGNED SELLERS ADDENDUMS. INFORMATION DEEMED ACCURATE BUT NOT GUARANTEED.

Key facts

• 5,000 sq ft lot
• 2 garage spots
• Built 1933

Property features AI

Exterior

• Parking: Detached 2-car garage (about 400 sq ft)
• Utilities: Public water; Municipal sewer connection
• Home design: Single-family residence; One level
• Construction: Aluminum and wood siding; Block foundation
• Exterior features: Lot under 1/4 acre (approximately 0.12 acre)

Interior

• Kitchen: Gas oven; Refrigerator; Range hood
• Bedrooms: 2 bedrooms on the main level
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Gas oven; Refrigerator; Range hood; Basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $69k.

Deal economics

• At list price, monthly cash flow is $245 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($894 rent vs $69k).
• Recommended offer: $68k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.6% 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: 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 at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 42% 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $476 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 + 7.9% rent growth), your $19k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($68k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 17y 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 $15k; list at $69k implies a 359% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1933 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $67,866 (1.5% below list)

Questions for the listing agent

1. Built in 1933 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.30% ✓
• Cap rate: 10.56%
• Cash-on-cash: 15.23%
• DSCR: 1.68
• GRM: 6.4

CMA / ARV

• ARV (on-the-fly): $81,408
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
309 E 34th St	0.64mi	2/1.0	780 (+2%)	5mo	$130,000	$167	64
3127 E Lynn St	0.40mi	2/1.0	814 (+6%)	11mo	$53,000	$65	62
2006 Central Ave	0.60mi	1/0.5 (-1)	768 (0%)	11mo	$15,000	$20	56
204 E 34th St	0.65mi	3/1.0 (+1)	728 (-5%)	4mo	$109,000	$150	53
3507 Columbus Ave	0.65mi	2/1.0	832 (+8%)	4mo	$60,000	$72	52
400 E 34th St	0.60mi	2/1.0	818 (+6%)	11mo	$127,000	$155	52
320 E 34th St	0.60mi	2/1.0	846 (+10%)	6mo	$90,000	$106	50
300 E 34th St	0.62mi	2/1.0	832 (+8%)	11mo	$130,000	$156	48
1221 E 22nd St	0.51mi	2/1.0	864 (+12%)	12mo	$65,000	$75	45
324 E 35th St	0.66mi	2/1.0	672 (-12%)	7mo	$130,000	$193	42
1732 Noble St	0.66mi	2/1.0	696 (-9%)	16mo	$59,000	$85	40
3434 Forrest Ter	0.74mi	1/1.0 (-1)	882 (+15%)	12mo	$54,000	$61	26

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: 11.2%
• Equity multiple: 1.47×
• Total profit: $9,036
• Equity at exit: $10,273

10-year hold

• IRR: 23.8%
• Equity multiple: 3.53×
• Total profit: $48,864
• Equity at exit: $5,957

Cash invested: $19,292 (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: 6.4×

Monthly cashflow live

• Estimated rent: $894 high
• Mortgage (P&I): −$361
• Tax from tax record: −$71 /mo · $853/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$188
• Net cashflow: $245

Break-even live

Break-even rent $584

Max offer price $68,900

Occupancy floor 68%

Sensitivity live

Price	-10% $284	-5% $264	+0% $245	+5% $225	+10% $206
Rent	-10% $174	-5% $210	+0% $245	+5% $280	+10% $315
Rate	-1.0pp $280	-0.5pp $262	base $245	+0.5pp $227	+1.0pp $209

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: $17,225
• Closing costs: $2,067
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3006 Noble St Anderson, IN	2.0	1.0	1064	$995	$0.94	8d	1	0.21mi
3009 E Lynn St Unit 1 Anderson, IN	3.0	1.0	1000	$875	$0.88	21d	1	0.30mi
702 E 23rd St Anderson, IN	1.0	1.0	560	$595	$1.06	15d	1	0.32mi
1232 E 28th St Anderson, IN	2.0	2.0	795	$950	$1.19	44d	1	0.33mi
3000 Fletcher St Unit 3000 Anderson, IN	2.0	1.0	800	$650	$0.81	44d	1	0.34mi
328 E 31st St Anderson, IN	1.0	1.0	600	$750	$1.25	44d	1	0.34mi
2233 E Lynn St Anderson, IN	1.0	1.0	700	$695	$0.99	2d	1	0.39mi
2625 Main St Anderson, IN	2.0	1.0	988	$895	$0.91	24d	1	0.42mi
2002 Jefferson St Unit 3 Anderson, IN	1.0	2.0	725	$600	$0.83	44d	1	0.52mi
1501 E 31st St Anderson, IN	2.0	1.0	840	$1,199	$1.43	21d	1	0.55mi
2111 Central Ave Anderson, IN	3.0	1.0	1026	$1,250	$1.22	44d	1	0.56mi
1726-1728 Walnut St Anderson, IN	2.0	2.0	900	$995	$1.11	2d	1	0.67mi
1710 Jefferson St Apt 2 Anderson, IN	2.0	1.0	550	$950	$1.73	44d	1	0.68mi
3614 Columbus Ave Anderson, IN	1.0	1.0	553	$725	$1.31	15d	1	0.73mi
2627 Chase St Anderson, IN	3.0	1.0	1050	$850	$0.81	18d	1	0.74mi
1719 Johnson Ave Anderson, IN	1.0	1.0	616	$824	$1.34	44d	1	0.75mi
2324 Chase St Anderson, IN	2.0	1.0	783	$950	$1.21	44d	1	0.76mi
2904 Lincoln St Anderson, IN	2.0	1.0	864	$900	$1.04	44d	1	0.79mi
2442 Morton St Anderson, IN	2.0	1.0	862	$1,125	$1.31	24d	1	0.86mi
2820 Fairview St Unit A Anderson, IN	2.0	1.0	850	$895	$1.05	44d	1	0.91mi
1411 Home Ave Anderson, IN	3.0	1.0	810	$1,295	$1.60	24d	1	0.93mi
221 E 13th St Anderson, IN	1.0	1.0	595	$995	$1.67	15d	1	1.01mi
219 E 13th St Anderson, IN	3.0	1.0	882	$1,000	$1.13	4d	1	1.02mi
618 W 22nd St Anderson, IN	3.0	1.0	900	$1,250	$1.39	44d	1	1.03mi
2301 Sheridan St Anderson, IN	2.0	1.0	900	$950	$1.06	44d	1	1.04mi
702 W 23rd St Anderson, IN	1.0	1.0	560	$595	$1.06	5d	1	1.04mi
1317 Main St Anderson, IN	2.0	1.0	750	$800	$1.07	44d	1	1.05mi
414 Wheeler Ave Apt B Anderson, IN	1.0	1.0	600	$650	$1.08	44d	1	1.10mi
2411 Hendricks St Anderson, IN	3.0	1.0	860	$1,000	$1.16	24d	1	1.13mi
223 E 11th St Anderson, IN	2.0	1.0	800	$900	$1.12	44d	1	1.14mi
2208 Hendricks St Unit 3 Anderson, IN	1.0	1.0	585	$675	$1.15	44d	1	1.15mi
4015 Haverhill Dr Anderson, IN	3.0	2.0	884	$1,100	$1.24	44d	1	1.25mi
812 Mellen Dr Unit 814 Anderson, IN	2.0	1.0	924	$950	$1.03	2d	1	1.26mi
4415 Columbus Ave Apt 15 Anderson, IN	2.0	1.0	800	$800	$1.00	2d	1	1.28mi
4426 Mellen Ct Anderson, IN	2.0	1.0	899	$900	$1.00	2d	1	1.29mi
917 E 8th St Unit 2 Anderson, IN	2.0	1.0	550	$825	$1.50	8d	1	1.30mi
120 W 10th St Anderson, IN	1.0–3.0	1.0	1066	$1,025	$0.96	2d	1	1.35mi
1045 Alhambra Dr Unit 6 Anderson, IN	2.0	1.5	900	$975	$1.08	24d	1	1.35mi
1829 E 8th St Anderson, IN	1.0–3.0	1.0	810	$1,025	$1.27	24d	9	1.42mi
919 E 6th St Apt 2 Anderson, IN	1.0	1.0	700	$625	$0.89	24d	1	1.44mi

Listing history 13 events

1. 2026-06-18
   days on market $68,900 Active 17 DOM
2. 2026-06-17
   price $68,900 Active 16 DOM
3. 2026-06-17
   days on market $69,900 Active 16 DOM
4. 2026-06-16
   days on market $69,900 Active 15 DOM
5. 2026-06-15
   days on market $69,900 Active 14 DOM
6. 2026-06-13
   days on market $69,900 Active 12 DOM
7. 2026-06-09
   days on market $69,900 Active 8 DOM
8. 2026-06-08
   days on market $69,900 Active 7 DOM
9. 2026-06-07
   days on market $69,900 Active 6 DOM
10. 2026-06-05
    days on market $69,900 Active 3 DOM
11. 2026-06-03
    days on market $69,900 Active 2 DOM
12. 2026-06-02
    remarks 376-char remark
13. 2026-06-02
    listed $69,900 Active 1 DOM

ⓘ 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: $853 · $71/mo
• Projected year-2 tax: $853 · $71/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
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $10,723
• − Mortgage interest: −$3,859
• − Property taxes: −$853
• − Insurance: −$344
• − Repairs & maintenance: −$858
• − Management: −$858
• − Depreciation: −$2,004
• Taxable income: $1,946
• Est. tax owed @ 24.0%: −$467
• After-tax cash flow: $2,471/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

+251.3% since first listed

4 events — show timeline

• 2026-06-01 Listed $69,900 MIBOR as Distributed by MLS Grid
• 2009-04-16 Listing Removed — MIBOR as Distributed by MLS Grid
• 2009-04-16 Sold (MLS) $15,000 MIBOR as Distributed by MLS Grid
• 2009-03-03 Listed $19,900 MIBOR as Distributed by MLS Grid

Property tax history

+4.2%/yr

Latest (2024): $853 · +8.1% YoY. Source: county tax records.