1503 Arrow Ave · Anderson, IN 46016

$24,900

3 bd · 1.0 ba · 1,363 sqft · SingleFamily public records · 76 Days on market

Built 1920 6,350 sqft lot $18/sqft · 52% below area

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Fixer upper 3 bedroom in up and coming area of Anderson, IN. This property has a newer roof, but the interior is a full rehab. Needs extensive work, but priced accordingly. Come see today!

Key facts

• Newer roof
• 6,350 sq ft lot
• Built 1920

Tags

• NEWER ROOF

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $653 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $23k (6.0% below list) — sets the bar for market timing.
• Cap rate 37.8% 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; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 43% 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 36% 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 $172 of loan paydown is wiped out by about $747 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 $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($23k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 6y ago; this cycle's ask has dropped $15k (38%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $11k; list at $25k implies a 126% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 3.1% of price; built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $23,406 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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?
9. 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.
10. 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.
11. 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: 4.37% ✓
• Cap rate: 37.78%
• Cash-on-cash: 112.45%
• DSCR: 6.00
• GRM: 1.9

CMA / ARV

• ARV (median comp): $85,327
• List price: $24,900
• Delta: -70.82%
• 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
1430 W 14th St	0.23mi	2/1.0 (-1)	1,404 (+3%)	8mo	$141,000	$100	73
1314 Arrow Ave	0.10mi	3/1.0	1,476 (+8%)	12mo	$103,000	$70	72
1209 Nichol Ave	0.42mi	2/1.0 (-1)	1,428 (+5%)	2mo	$23,750	$17	66
1644 W 7th St	0.57mi	3/1.0	1,351 (-1%)	10mo	$38,000	$28	64
1310 W 13th St	0.35mi	2/1.0 (-1)	1,178 (-14%)	1mo	$62,000	$53	56
2218 Atwood Dr	0.52mi	3/2.0	1,445 (+6%)	15mo	$217,900	$151	49
1227 W 9th St	0.54mi	3/1.0	1,158 (-15%)	1mo	$84,000	$73	49
1728 W 20th St	0.32mi	3/1.0	1,536 (+13%)	19mo	$132,900	$87	49
1002 Raible Ave	0.58mi	2/1.5 (-1)	1,382 (+1%)	20mo	$175,000	$127	47
1805 W 21st St	0.40mi	4/1.5 (+1)	1,225 (-10%)	15mo	$52,000	$42	45
2215 Fountain St	0.65mi	3/1.0	1,540 (+13%)	7mo	$60,000	$39	42
711 Madison Ave	0.74mi	3/2.0	1,506 (+10%)	7mo	$135,000	$90	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: —
• Equity multiple: 7.20×
• Total profit: $43,213
• Equity at exit: $3,713

10-year hold

• IRR: —
• Equity multiple: 17.75×
• Total profit: $116,783
• Equity at exit: $2,153

Cash invested: $6,972 (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: 1.9×

Monthly cashflow live

• Estimated rent: $1,087 high
• Mortgage (P&I): −$131
• Tax from tax record: −$64 /mo · $773/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$228
• Net cashflow: $653

Break-even live

Break-even rent $260

Max offer price $24,900

Occupancy floor 35%

Sensitivity live

Price	-10% $667	-5% $660	+0% $653	+5% $646	+10% $639
Rent	-10% $567	-5% $610	+0% $653	+5% $696	+10% $739
Rate	-1.0pp $666	-0.5pp $660	base $653	+0.5pp $647	+1.0pp $640

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: $6,225
• Closing costs: $747
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1616 W 16th St Anderson, IN	2.0	1.0	1038	$1,050	$1.01	44d	1	0.14mi
1136 Irving Way Anderson, IN	2.0	1.0	900	$895	$0.99	22d	1	0.25mi
1404 Walton St Anderson, IN	3.0	1.0	1090	$995	$0.91	44d	1	0.27mi
1532 Walton St Anderson, IN	3.0	1.0	1342	$1,100	$0.82	44d	1	0.27mi
1310 W 13th St Anderson, IN	2.0	1.0	1178	$895	$0.76	2d	1	0.35mi
1222 Nichol Ave Unit 4 Anderson, IN	3.0	1.0	1000	$1,135	$1.14	8d	1	0.43mi
1502 Cedar St Anderson, IN	2.0	1.0	1104	$850	$0.77	44d	1	0.48mi
1631 W 7th St Anderson, IN	3.0	1.0	900	$1,000	$1.11	44d	1	0.55mi
2705 Horton Dr Anderson, IN	3.0	1.0	936	$1,050	$1.12	21d	1	0.70mi
921 W 9th St Anderson, IN	3.0	2.0	1611	$1,375	$0.85	24d	1	0.71mi
1212 W 5th St Anderson, IN	3.0	1.0	1252	$1,295	$1.03	13d	1	0.79mi
2613 Louise St Anderson, IN	2.0	1.0	1096	$950	$0.87	22d	1	0.82mi
820 W 7th St Apt A Anderson, IN	2.0	2.0	1400	$1,200	$0.86	24d	1	0.86mi
618 W 22nd St Anderson, IN	3.0	1.0	900	$1,250	$1.39	44d	1	0.86mi
1529 W 2nd St Anderson, IN	3.0	1.0	884	$1,200	$1.36	24d	1	0.87mi
2301 Sheridan St Anderson, IN	2.0	1.0	900	$950	$1.06	44d	1	0.88mi
2719 Dewey St Anderson, IN	2.0	1.0	877	$1,150	$1.31	44d	1	0.91mi
2233 Fairview St Anderson, IN	3.0	1.5	1452	$1,195	$0.82	24d	1	0.92mi
2203 W 28th St Anderson, IN	3.0	1.0	1068	$1,000	$0.94	44d	1	0.96mi
229 W 19th St Anderson, IN	3.0	1.0	1200	$1,000	$0.83	44d	1	1.02mi
1010 W 2nd St Unit 3 Anderson, IN	3.0	1.0	1025	$1,125	$1.10	15d	1	1.02mi
1010 W 2nd St Unit 2 Anderson, IN	2.0	1.0	875	$1,025	$1.17	22d	1	1.02mi
2916 W 12th St Anderson, IN	3.0	1.0	1271	$1,295	$1.02	44d	1	1.04mi
510 W 5th St Anderson, IN	3.0	1.5	1617	$995	$0.62	44d	1	1.07mi
120 W 10th St Anderson, IN	1.0–3.0	1.0	1066	$1,150	$1.08	2d	1	1.15mi
506 W 2nd St Anderson, IN	3.0	1.0	964	$1,095	$1.14	24d	1	1.23mi
2627 Chase St Anderson, IN	3.0	1.0	1050	$850	$0.81	18d	1	1.25mi
219 E 13th St Anderson, IN	3.0	1.0	882	$1,000	$1.13	4d	1	1.38mi
2111 Central Ave Anderson, IN	3.0	1.0	1026	$1,250	$1.22	44d	1	1.38mi
3021 Delaware St Anderson, IN	2.0	1.0	1154	$1,150	$1.00	8d	1	1.49mi

Listing history 19 events

1. 2026-06-18
   days on market $24,900 Active 76 DOM
2. 2026-06-17
   days on market $24,900 Active 75 DOM
3. 2026-06-16
   days on market $24,900 Active 74 DOM
4. 2026-06-15
   days on market $24,900 Active 73 DOM
5. 2026-06-13
   days on market $24,900 Active 71 DOM
6. 2026-06-09
   days on market $24,900 Active 67 DOM
7. 2026-06-08
   days on market $24,900 Active 66 DOM
8. 2026-06-07
   days on market $24,900 Active 65 DOM
9. 2026-06-05
   days on market $24,900 Active 62 DOM
10. 2026-06-03
    days on market $24,900 Active 61 DOM
11. 2026-06-02
    days on market $24,900 Active 60 DOM
12. 2026-06-01
    days on market $24,900 Active 59 DOM
13. 2026-05-31
    days on market $24,900 Active 58 DOM
14. 2026-04-29
    price $24,900 191-char remark

    Show marketing remark (191 chars)

    Fixer upper 3 bedroom in up and coming area of Anderson, IN. This property has a newer roof, but the interior is a full rehab. Needs extensive work, but priced accordingly. Come see today!

15. 2026-04-24
    price $29,900 191-char remark

    Show marketing remark (191 chars)

    Fixer upper 3 bedroom in up and coming area of Anderson, IN. This property has a newer roof, but the interior is a full rehab. Needs extensive work, but priced accordingly. Come see today!

16. 2026-04-02
    listed $39,900 Active 191-char remark

    Show marketing remark (191 chars)

    Fixer upper 3 bedroom in up and coming area of Anderson, IN. This property has a newer roof, but the interior is a full rehab. Needs extensive work, but priced accordingly. Come see today!

17. 2020-11-13
    soldstatus $11,000 Sold 140-char remark

    Show marketing remark (140 chars)

    Attention investors! Here is your Fall project! Needs full rehab and priced accordingly. Could be great addition to your rental portfolio.

18. 2020-11-06
    status Pending 140-char remark

    Show marketing remark (140 chars)

    Attention investors! Here is your Fall project! Needs full rehab and priced accordingly. Could be great addition to your rental portfolio.

19. 2020-09-25
    listed $14,500 Active 140-char remark

    Show marketing remark (140 chars)

    Attention investors! Here is your Fall project! Needs full rehab and priced accordingly. Could be great addition to your rental portfolio.

ⓘ 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: $773 · $64/mo
• Projected year-2 tax: $773 · $64/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: $13,044
• − Mortgage interest: −$1,395
• − Property taxes: −$773
• − Insurance: −$124
• − Repairs & maintenance: −$1,044
• − Management: −$1,044
• − Depreciation: −$724
• Taxable income: $7,940
• Est. tax owed @ 24.0%: −$1,906
• After-tax cash flow: $5,934/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

+71.7% since first listed

6 events — show timeline

• 2026-04-29 Price Changed $24,900 MIBOR as Distributed by MLS Grid
• 2026-04-24 Price Changed $29,900 MIBOR as Distributed by MLS Grid
• 2026-04-02 Listed $39,900 MIBOR as Distributed by MLS Grid
• 2020-11-13 Sold (MLS) $11,000 MIBOR as Distributed by MLS Grid
• 2020-11-06 Pending — MIBOR as Distributed by MLS Grid
• 2020-09-25 Listed $14,500 MIBOR as Distributed by MLS Grid

Property tax history

+8.7%/yr

Latest (2024): $773 · +9.4% YoY. Source: county tax records.