1816 Central Ave · Anderson, IN 46016

$74,900

2 bd · 1.0 ba · 1,063 sqft · SingleFamily public records · 146 Days on market

Built 1895 5,848 sqft lot $70/sqft · 45% above area Est $77k · at est. ↓ 10% since listing

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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
• DSCR +10.0/10.0
• ARV discount +8.9/15.0
• 1% rule +8.2/10.0
• 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 rental property or fix and flip! Lots of space in this two bedroom home with large rooms to spread out. Beautiful built in cabinets separating the living room from the dining room. Large kitchen and appliances remain, but seller is unsure if they are operable. Property has been a rental.

Key facts

• Appliances remain
• Large kitchen
• Built in cabinets

Tags

• BUILT IN CABINETS
• LARGE KITCHEN
• APPLIANCES REMAIN

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $301 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($989 rent vs $75k).
• Recommended offer: $66k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.1% 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 24d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 33% 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 $518 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 $21k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 146 days — a 12% lower offer ($66k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $65,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 146 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1895 — 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: 1.32% ✓
• Cap rate: 11.11%
• Cash-on-cash: 17.20%
• DSCR: 1.77
• GRM: 6.3

CMA / ARV

• ARV (median comp): $77,267
• List price: $74,900
• Delta: -3.06%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1541 Walnut St	0.24mi	3/1.0 (+1)	1,032 (-3%)	0mo	$47,398	$46	78
2205 Main St	0.27mi	2/1.0	1,036 (-2%)	16mo	$72,000	$69	70
2334 Walnut St	0.42mi	2/1.0	1,136 (+7%)	1mo	$55,000	$48	68
1610 Central Ave	0.16mi	2/1.0	975 (-8%)	15mo	$50,000	$51	66
1611 Johnson Ave	0.58mi	2/1.0	1,104 (+4%)	2mo	$25,000	$23	65
1612 Cincinnati Ave	0.52mi	3/1.5 (+1)	1,080 (+2%)	4mo	$57,000	$53	62
1525 Home Ave	0.42mi	2/1.0	1,209 (+14%)	5mo	$137,000	$113	54
717 E 27th St	0.70mi	2/1.0	1,092 (+3%)	12mo	$74,900	$69	53
1628 Sherman St	0.69mi	2/1.0	1,106 (+4%)	15mo	$55,000	$50	49
2639 Central Ave	0.61mi	2/1.0	952 (-10%)	8mo	$57,000	$60	47
216 W 27th St	0.69mi	1/1.0 (-1)	946 (-11%)	13mo	$25,000	$26	34
220 E 29th St	0.72mi	2/1.0	924 (-13%)	15mo	$90,000	$97	32

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: 13.7%
• Equity multiple: 1.58×
• Total profit: $12,102
• Equity at exit: $11,168

10-year hold

• IRR: 25.9%
• Equity multiple: 3.78×
• Total profit: $58,308
• Equity at exit: $6,476

Cash invested: $20,972 (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: 6.3×

Monthly cashflow live

• Estimated rent: $989 high
• Mortgage (P&I): −$393
• Tax from tax record: −$57 /mo · $684/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$208
• Net cashflow: $301

Break-even live

Break-even rent $609

Max offer price $74,900

Occupancy floor 65%

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: $18,725
• Closing costs: $2,247
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2111 Central Ave Anderson, IN	3.0	1.0	1026	$1,250	$1.22	43d	1	0.20mi
1726-1728 Walnut St Anderson, IN	2.0	2.0	900	$995	$1.11	2d	1	0.24mi
1317 Main St Anderson, IN	2.0	1.0	750	$800	$1.07	43d	1	0.33mi
229 W 19th St Anderson, IN	3.0	1.0	1200	$1,000	$0.83	43d	1	0.35mi
219 E 13th St Anderson, IN	3.0	1.0	882	$1,000	$1.13	4d	1	0.35mi
2002 Jefferson St Unit 3 Anderson, IN	1.0	2.0	725	$600	$0.83	43d	1	0.37mi
1411 Home Ave Anderson, IN	3.0	1.0	810	$1,295	$1.60	23d	1	0.42mi
2023 McKinley St Anderson, IN	2.0	1.0	1500	$950	$0.63	43d	1	0.47mi
223 E 11th St Anderson, IN	2.0	1.0	800	$900	$1.12	43d	1	0.48mi
2324 Chase St Anderson, IN	2.0	1.0	783	$950	$1.21	43d	1	0.49mi
2625 Main St Anderson, IN	2.0	1.0	988	$895	$0.91	23d	1	0.59mi
618 W 22nd St Anderson, IN	3.0	1.0	900	$1,250	$1.39	43d	1	0.63mi
120 W 10th St Anderson, IN	1.0–3.0	1.0	1066	$1,025	$0.96	1d	1	0.63mi
2233 Fairview St Anderson, IN	3.0	1.5	1452	$1,195	$0.82	23d	1	0.63mi
2233 E Lynn St Anderson, IN	1.0	1.0	700	$695	$0.99	1d	1	0.65mi
2442 Morton St Anderson, IN	2.0	1.0	862	$1,125	$1.31	23d	1	0.66mi
2627 Chase St Anderson, IN	3.0	1.0	1050	$850	$0.81	17d	1	0.70mi
2301 Sheridan St Anderson, IN	2.0	1.0	900	$950	$1.06	43d	1	0.70mi
228 E 29th St Anderson, IN	3.0	2.0	1440	$1,295	$0.90	4d	1	0.73mi
3000 Fletcher St Unit 3000 Anderson, IN	2.0	1.0	800	$650	$0.81	43d	1	0.81mi
602 Meridian St Apt C Anderson, IN	2.0	1.0	800	$900	$1.12	43d	1	0.81mi
2904 Lincoln St Anderson, IN	2.0	1.0	864	$900	$1.04	43d	1	0.85mi
2411 Hendricks St Anderson, IN	3.0	1.0	860	$1,000	$1.16	23d	1	0.85mi
1502 Cedar St Anderson, IN	2.0	1.0	1104	$850	$0.77	43d	1	0.87mi
3021 Delaware St Anderson, IN	2.0	1.0	1154	$1,150	$1.00	7d	1	0.87mi
3006 Noble St Anderson, IN	2.0	1.0	1064	$995	$0.94	7d	1	0.88mi
2820 Fairview St Unit A Anderson, IN	2.0	1.0	850	$895	$1.05	43d	1	0.88mi
1023 E 8th St Unit 3 Anderson, IN	2.0	1.5	1200	$1,175	$0.98	7d	1	0.88mi
919 E 6th St Apt 2 Anderson, IN	1.0	1.0	700	$625	$0.89	23d	1	0.96mi
1232 E 28th St Anderson, IN	2.0	2.0	795	$950	$1.19	43d	1	0.96mi
1318 E 28th St Anderson, IN	3.0	1.0	1280	$1,300	$1.02	12d	1	1.01mi
820 W 7th St Apt A Anderson, IN	2.0	2.0	1400	$1,200	$0.86	23d	1	1.01mi
3009 E Lynn St Unit 1 Anderson, IN	3.0	1.0	1000	$875	$0.88	20d	1	1.02mi
1222 Nichol Ave Unit 4 Anderson, IN	3.0	1.0	1000	$1,135	$1.14	7d	1	1.05mi
1310 W 13th St Anderson, IN	2.0	1.0	1178	$895	$0.76	2d	1	1.06mi
706 University Blvd Anderson, IN	2.0	1.0	1250	$1,050	$0.84	2d	1	1.13mi
924 W 5th St Unit 924 Anderson, IN	1.0	1.0	750	$600	$0.80	23d	1	1.18mi
506 W 2nd St Anderson, IN	3.0	1.0	964	$1,095	$1.14	23d	1	1.19mi
1616 W 16th St Anderson, IN	2.0	1.0	1038	$1,050	$1.01	43d	1	1.22mi
1501 E 31st St Anderson, IN	2.0	1.0	840	$1,199	$1.43	20d	1	1.23mi

Listing history 16 events

1. 2026-06-18
   days on market $74,900 Active 146 DOM
2. 2026-06-17
   days on market $74,900 Active 145 DOM
3. 2026-06-16
   days on market $74,900 Active 144 DOM
4. 2026-06-15
   days on market $74,900 Active 143 DOM
5. 2026-06-13
   days on market $74,900 Active 141 DOM
6. 2026-06-09
   days on market $74,900 Active 137 DOM
7. 2026-06-08
   days on market $74,900 Active 136 DOM
8. 2026-06-07
   days on market $74,900 Active 135 DOM
9. 2026-06-05
   days on market $74,900 Active 132 DOM
10. 2026-06-03
    days on market $74,900 Active 131 DOM
11. 2026-06-02
    days on market $74,900 Active 130 DOM
12. 2026-06-01
    days on market $74,900 Active 129 DOM
13. 2026-05-31
    days on market $74,900 Active 128 DOM
14. 2026-04-21
    price $74,900 294-char remark

    Show marketing remark (294 chars)

    Great rental property or fix and flip! Lots of space in this two bedroom home with large rooms to spread out. Beautiful built in cabinets separating the living room from the dining room. Large kitchen and appliances remain, but seller is unsure if they are operable. Property has been a rental.

15. 2026-03-18
    price $77,900 294-char remark

    Show marketing remark (294 chars)

    Great rental property or fix and flip! Lots of space in this two bedroom home with large rooms to spread out. Beautiful built in cabinets separating the living room from the dining room. Large kitchen and appliances remain, but seller is unsure if they are operable. Property has been a rental.

16. 2026-01-23
    listed $82,900 Active 294-char remark

    Show marketing remark (294 chars)

    Great rental property or fix and flip! Lots of space in this two bedroom home with large rooms to spread out. Beautiful built in cabinets separating the living room from the dining room. Large kitchen and appliances remain, but seller is unsure if they are operable. Property has been a rental.

ⓘ 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: $684 · $57/mo
• Projected year-2 tax: $684 · $57/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 4/10 Moderate FEMA zone X (unshaded) · 21% 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: $11,874
• − Mortgage interest: −$4,196
• − Property taxes: −$684
• − Insurance: −$374
• − Repairs & maintenance: −$950
• − Management: −$950
• − Depreciation: −$2,179
• Taxable income: $2,541
• Est. tax owed @ 24.0%: −$610
• After-tax cash flow: $2,998/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

-9.7% since first listed

3 events — show timeline

• 2026-04-21 Price Changed $74,900 MIBOR as Distributed by MLS Grid
• 2026-03-18 Price Changed $77,900 MIBOR as Distributed by MLS Grid
• 2026-01-23 Listed $82,900 MIBOR as Distributed by MLS Grid

Property tax history

+4.0%/yr

Latest (2024): $684 · +8.9% YoY. Source: county tax records.