2221 E Lynn St · Anderson, IN 46016

$49,900

3 bd · 1.0 ba · 946 sqft · SingleFamily public records · 85 Days on market

Built 1950 5,200 sqft lot $53/sqft · at area comps Est $83k · 40% 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 +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

Great option for investors and calling all handy homeowners. This residence offers a promising foundation for a personalized home or a strategic enhancement to an investment portfolio.

Key facts

• 5,200 sq ft lot
• Garage
• Built 1950

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $458 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $47k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.3% 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; 29 comparable units currently listed for rent nearby; rentals at typical pace (median 24d on market — plan ~3-4 weeks tenant-placement turnaround); 48% 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 34% 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 $345 of loan paydown is wiped out by about $1k 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 $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 85 days — a 6% lower offer ($47k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $40k; 25% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $46,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 85 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 1950 — 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: 2.08% ✓
• Cap rate: 17.31%
• Cash-on-cash: 39.35%
• DSCR: 2.75
• GRM: 4.0

CMA / ARV

• ARV (median comp): $82,579
• List price: $49,900
• Delta: -39.57%
• 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
1718 Cincinnati Ave	0.30mi	2/1.0 (-1)	898 (-5%)	4mo	$115,000	$128	70
1221 E 22nd St	0.12mi	2/1.0 (-1)	864 (-9%)	12mo	$65,000	$75	65
1541 Walnut St	0.54mi	3/1.0	1,032 (+9%)	0mo	$47,398	$46	59
2639 Central Ave	0.68mi	2/1.0 (-1)	952 (+1%)	8mo	$57,000	$60	55
1612 Cincinnati Ave	0.36mi	3/1.5	1,080 (+14%)	4mo	$57,000	$53	54
1610 Central Ave	0.69mi	2/1.0 (-1)	975 (+3%)	15mo	$50,000	$51	45
220 E 29th St	0.71mi	2/1.0 (-1)	924 (-2%)	15mo	$90,000	$97	45
1411 Home Ave	0.63mi	3/1.0	810 (-14%)	2mo	$71,000	$88	45
1739 E 18th St	0.62mi	2/1.0 (-1)	869 (-8%)	10mo	$30,000	$35	44
826 E 31st St	0.62mi	2/1.0 (-1)	1,056 (+12%)	8mo	$132,500	$125	40
2205 Main St	0.65mi	2/1.0 (-1)	1,036 (+10%)	16mo	$72,000	$69	36
3127 E Lynn St	0.69mi	2/1.0 (-1)	814 (-14%)	11mo	$53,000	$65	31

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: 41.2%
• Equity multiple: 2.89×
• Total profit: $26,458
• Equity at exit: $7,440

10-year hold

• IRR: 49.7%
• Equity multiple: 7.08×
• Total profit: $84,944
• Equity at exit: $4,314

Cash invested: $13,972 (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: 4.0×

Monthly cashflow live

• Estimated rent: $1,036 high
• Mortgage (P&I): −$262
• Tax from tax record: −$78 /mo · $931/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$218
• Net cashflow: $458

Break-even live

Break-even rent $456

Max offer price $49,900

Occupancy floor 51%

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: $12,475
• Closing costs: $1,497
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1232 E 28th St Anderson, IN	2.0	2.0	795	$950	$1.19	43d	1	0.40mi
1710 Jefferson St Apt 2 Anderson, IN	2.0	1.0	550	$950	$1.73	43d	1	0.41mi
1726-1728 Walnut St Anderson, IN	2.0	2.0	900	$995	$1.11	2d	1	0.47mi
3009 E Lynn St Unit 1 Anderson, IN	3.0	1.0	1000	$875	$0.88	20d	1	0.56mi
2111 Central Ave Anderson, IN	3.0	1.0	1026	$1,250	$1.22	43d	1	0.59mi
3006 Noble St Anderson, IN	2.0	1.0	1064	$995	$0.94	7d	1	0.61mi
1411 Home Ave Anderson, IN	3.0	1.0	810	$1,295	$1.60	23d	1	0.65mi
1501 E 31st St Anderson, IN	2.0	1.0	840	$1,199	$1.43	20d	1	0.67mi
2625 Main St Anderson, IN	2.0	1.0	988	$895	$0.91	23d	1	0.71mi
3000 Fletcher St Unit 3000 Anderson, IN	2.0	1.0	800	$650	$0.81	43d	1	0.73mi
219 E 13th St Anderson, IN	3.0	1.0	882	$1,000	$1.13	4d	1	0.82mi
1317 Main St Anderson, IN	2.0	1.0	750	$800	$1.07	43d	1	0.89mi
223 E 11th St Anderson, IN	2.0	1.0	800	$900	$1.12	43d	1	0.92mi
2324 Chase St Anderson, IN	2.0	1.0	783	$950	$1.21	43d	1	0.93mi
1045 Alhambra Dr Unit 6 Anderson, IN	2.0	1.5	900	$975	$1.08	23d	1	0.95mi
917 E 8th St Unit 2 Anderson, IN	2.0	1.0	550	$825	$1.50	7d	1	0.95mi
2627 Chase St Anderson, IN	3.0	1.0	1050	$850	$0.81	17d	1	1.00mi
1829 E 8th St Anderson, IN	1.0–3.0	1.0	810	$1,250	$1.54	23d	9	1.02mi
2442 Morton St Anderson, IN	2.0	1.0	862	$1,125	$1.31	23d	1	1.07mi
2904 Lincoln St Anderson, IN	2.0	1.0	864	$900	$1.04	43d	1	1.10mi
618 W 22nd St Anderson, IN	3.0	1.0	900	$1,250	$1.39	43d	1	1.17mi
120 W 10th St Anderson, IN	1.0–3.0	1.0	1066	$1,150	$1.08	1d	1	1.19mi
2820 Fairview St Unit A Anderson, IN	2.0	1.0	850	$895	$1.05	43d	1	1.19mi
2301 Sheridan St Anderson, IN	2.0	1.0	900	$950	$1.06	43d	1	1.21mi
2505 E 10th St Anderson, IN	1.0–2.0	1.0	850	$949	$1.12	43d	2	1.25mi
530 Alhambra Dr Anderson, IN	1.0–2.0	1.0	879	$1,100	$1.25	43d	1	1.27mi
602 Meridian St Apt C Anderson, IN	2.0	1.0	800	$900	$1.12	43d	1	1.28mi
2411 Hendricks St Anderson, IN	3.0	1.0	860	$1,000	$1.16	23d	1	1.34mi
2412 E 7th St Anderson, IN	2.0	1.0	600	$895	$1.49	2d	1	1.38mi

Listing history 17 events

1. 2026-06-18
   days on market $49,900 Active 85 DOM
2. 2026-06-17
   days on market $49,900 Active 84 DOM
3. 2026-06-16
   days on market $49,900 Active 83 DOM
4. 2026-06-15
   days on market $49,900 Active 82 DOM
5. 2026-06-13
   pricedays on market $49,900 Active 80 DOM
6. 2026-06-09
   days on market $54,900 Active 76 DOM
7. 2026-06-08
   days on market $54,900 Active 75 DOM
8. 2026-06-07
   days on market $54,900 Active 74 DOM
9. 2026-06-05
   days on market $54,900 Active 71 DOM
10. 2026-06-03
    days on market $54,900 Active 70 DOM
11. 2026-06-02
    days on market $54,900 Active 69 DOM
12. 2026-06-01
    days on market $54,900 Active 68 DOM
13. 2026-05-31
    days on market $54,900 Active 67 DOM
14. 2026-03-25
    listed $54,900 Active 187-char remark

    Show marketing remark (187 chars)

    Great option for investors and calling all handy homeowners. This residence offers a promising foundation for a personalized home or a strategic enhancement to an investment portfolio.

15. 2025-09-18
    soldstatus $39,900 Closed 122-char remark

    Show marketing remark (122 chars)

    Excellent investment opportunity with this home to make it yours however you wish. This amazing opportunity is sold AS-IS.

16. 2025-08-21
    status Pending 122-char remark

    Show marketing remark (122 chars)

    Excellent investment opportunity with this home to make it yours however you wish. This amazing opportunity is sold AS-IS.

17. 2025-08-11
    listed $39,900 Active 122-char remark

    Show marketing remark (122 chars)

    Excellent investment opportunity with this home to make it yours however you wish. This amazing opportunity is sold AS-IS.

ⓘ 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: $931 · $78/mo
• Projected year-2 tax: $931 · $78/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: $12,429
• − Mortgage interest: −$2,795
• − Property taxes: −$931
• − Insurance: −$250
• − Repairs & maintenance: −$994
• − Management: −$994
• − Depreciation: −$1,452
• Taxable income: $5,013
• Est. tax owed @ 24.0%: −$1,203
• After-tax cash flow: $4,295/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

+37.6% since first listed

4 events — show timeline

• 2026-03-25 Listed $54,900 MIBOR as Distributed by MLS Grid
• 2025-09-18 Sold (MLS) $39,900 MIBOR as Distributed by MLS Grid
• 2025-08-21 Pending — MIBOR as Distributed by MLS Grid
• 2025-08-11 Listed $39,900 MIBOR as Distributed by MLS Grid

Property tax history

+4.2%/yr

Latest (2024): $931 · +8.7% YoY. Source: county tax records.