1426 Dewey St · Anderson, IN 46016

$35,000

2 bd · 1.0 ba · 835 sqft · SingleFamily public records · 49 Days on market

Built 1908 6,350 sqft lot $42/sqft · 29% above area Est $54k · 35% under ↓ 30% 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
• 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

Opportunity awaits with this character-filled home ready for your vision! With some interior and exterior updates, this property has the potential to shine. The enclosed front porch offers the potential for additional living space and a welcoming entry. Inside, you'll find hardwood flooring in the living room, dining room, and bedroom, along with charming built-in window seating in the dining area. The kitchen features some updated cabinetry, providing a solid starting point for further improvements. The home includes a full unfinished basement, offering easy access for mechanical updates and additional storage. Forced air heating is already in place, and the detached garage adds convenience and value. Whether you're looking for your next investment project or a property to renovate and make your own, this home offers strong potential at an affordable price point.

Key facts

• Hardwood flooring
• Forced air heating
• Updated cabinetry

Tags

• ENCLOSED FRONT PORCH
• HARDWOOD FLOORING
• BUILT-IN WINDOW SEATING
• UPDATED CABINETRY
• FULL UNFINISHED BASEMENT
• FORCED AIR HEATING

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $446 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($954 rent vs $35k).
• Recommended offer: $34k (3.0% below list) — sets the bar for market timing.
• Cap rate 21.6% 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); 188 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); 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 32% 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 $242 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 $10k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 49 days — a 3% lower offer ($34k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 3.8% of price; built in 1908 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $33,950 (3.0% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1908 — 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. 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: 2.73% ✓
• Cap rate: 21.59%
• Cash-on-cash: 54.62%
• DSCR: 3.43
• GRM: 3.1

CMA / ARV

• ARV (median comp): $54,078
• List price: $35,000
• Delta: -35.28%
• 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
1423 Halford St	0.04mi	3/1.0 (+1)	864 (+4%)	2mo	$68,000	$79	86
1632 W 17th St	0.32mi	2/1.0	840 (+1%)	12mo	$38,000	$45	74
2308 W 16th St	0.17mi	2/1.0	756 (-10%)	3mo	$91,500	$121	74
1516 Fulton St	0.13mi	2/1.0	720 (-14%)	3mo	$63,500	$88	68
1830 Nichol Ave	0.17mi	2/1.0	943 (+13%)	4mo	$55,000	$58	67
1812 Halford St	0.27mi	2/1.0	720 (-14%)	3mo	$50,000	$69	62
2241 Nelle St	0.58mi	2/1.0	796 (-5%)	4mo	$66,500	$84	61
1640 W 7th St	0.60mi	2/1.0	810 (-3%)	12mo	$98,500	$122	57
710 Henry St	0.72mi	3/1.0 (+1)	864 (+4%)	5mo	$108,900	$126	51
2610 W 18th St	0.45mi	3/1.0 (+1)	900 (+8%)	13mo	$119,000	$132	50
2310 Halford St	0.63mi	2/2.0	744 (-11%)	2mo	$150,000	$202	47
2517 Horton Dr	0.45mi	3/1.0 (+1)	936 (+12%)	12mo	$128,000	$137	44

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: 58.8%
• Equity multiple: 3.83×
• Total profit: $27,708
• Equity at exit: $5,219

10-year hold

• IRR: 65.5%
• Equity multiple: 9.49×
• Total profit: $83,244
• Equity at exit: $3,026

Cash invested: $9,800 (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: 188
• Price-to-rent: 3.1×

Monthly cashflow live

• Estimated rent: $954 high
• Mortgage (P&I): −$184
• Tax from tax record: −$109 /mo · $1,313/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$200
• Net cashflow: $446

Break-even live

Break-even rent $389

Max offer price $35,000

Occupancy floor 48%

Sensitivity live

Price	-10% $466	-5% $456	+0% $446	+5% $436	+10% $426
Rent	-10% $371	-5% $408	+0% $446	+5% $484	+10% $521
Rate	-1.0pp $464	-0.5pp $455	base $446	+0.5pp $437	+1.0pp $428

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: $8,750
• Closing costs: $1,050
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1404 Walton St Anderson, IN	3.0	1.0	1090	$995	$0.91	44d	1	0.07mi
1136 Irving Way Anderson, IN	2.0	1.0	900	$895	$0.99	22d	1	0.24mi
1720 Nelle St Anderson, IN	2.0	1.0	768	$1,100	$1.43	24d	1	0.26mi
1123 Louise St Anderson, IN	2.0	1.0	850	$850	$1.00	44d	1	0.26mi
1640 W 17th St Anderson, IN	2.0	1.0	810	$895	$1.10	21d	1	0.31mi
1616 W 16th St Anderson, IN	2.0	1.0	1038	$1,050	$1.01	44d	1	0.34mi
1614 W 18th St Anderson, IN	2.0	1.0	690	$975	$1.41	24d	1	0.38mi
2004 Arrow Ave Anderson, IN	2.0	1.0	816	$1,125	$1.38	24d	1	0.43mi
2705 Horton Dr Anderson, IN	3.0	1.0	936	$1,050	$1.12	21d	1	0.52mi
1708 W 7th St Anderson, IN	1.0	1.0	700	$875	$1.25	20d	1	0.61mi
1708 W 7th St Anderson, IN	1.0	1.0	700	$1,000	$1.43	44d	1	0.61mi
1708 W 7th St Anderson, IN	1.0	1.0	700	$875	$1.25	18d	1	0.61mi
1631 W 7th St Anderson, IN	3.0	1.0	900	$1,000	$1.11	44d	1	0.61mi
1222 Nichol Ave Unit 4 Anderson, IN	3.0	1.0	1000	$1,135	$1.14	8d	1	0.62mi
1627 W 6th St Anderson, IN	2.0	1.0	650	$850	$1.31	24d	1	0.68mi
1502 Cedar St Anderson, IN	2.0	1.0	1104	$850	$0.77	44d	1	0.69mi
1312 W 8th St Unit 1332 F Anderson, IN	2.0	1.0	850	$979	$1.15	44d	1	0.78mi
1312 W 8th St Unit 1308H Anderson, IN	1.0	1.0	750	$999	$1.33	15d	1	0.78mi
2613 Louise St Anderson, IN	2.0	1.0	1096	$950	$0.87	22d	1	0.82mi
1708 Euclid Dr Anderson, IN	2.0	1.0	732	$1,225	$1.67	44d	1	0.88mi
2719 Dewey St Anderson, IN	2.0	1.0	877	$1,150	$1.31	44d	1	0.88mi
2203 W 28th St Anderson, IN	3.0	1.0	1068	$1,000	$0.94	44d	1	0.91mi
1529 W 2nd St Anderson, IN	3.0	1.0	884	$1,200	$1.36	24d	1	0.94mi
2208 Hendricks St Unit 3 Anderson, IN	1.0	1.0	585	$675	$1.15	44d	1	0.94mi
1020 W 5th St Unit 1022 Anderson, IN	1.0	1.0	550	$750	$1.36	44d	1	0.98mi
803 1/2 W 9th St Anderson, IN	1.0	1.0	600	$525	$0.88	44d	1	1.00mi
2411 Hendricks St Anderson, IN	3.0	1.0	860	$1,000	$1.16	24d	1	1.01mi
925 W 5th St Unit 1 Anderson, IN	1.0	1.0	617	$775	$1.26	17d	1	1.02mi
924 W 5th St Unit 924 Anderson, IN	1.0	1.0	750	$600	$0.80	24d	1	1.04mi
924 W 5th St Unit 928 Anderson, IN	1.0	1.0	600	$600	$1.00	44d	1	1.04mi
702 W 23rd St Anderson, IN	1.0	1.0	560	$595	$1.06	5d	1	1.05mi
618 W 22nd St Anderson, IN	3.0	1.0	900	$1,250	$1.39	44d	1	1.05mi
2301 Sheridan St Anderson, IN	2.0	1.0	900	$950	$1.06	44d	1	1.05mi
215 S Madison Ave Anderson, IN	1.0	1.0	600	$650	$1.08	44d	1	1.13mi
213 Madison Ave Anderson, IN	1.0	1.0	600	$650	$1.08	44d	1	1.13mi
1010 W 2nd St Unit 1 Anderson, IN	1.0	1.0	724	$925	$1.28	24d	1	1.15mi
1010 W 2nd St Unit 2 Anderson, IN	2.0	1.0	875	$1,025	$1.17	22d	1	1.15mi
1010 W 2nd St Unit 3 Anderson, IN	3.0	1.0	1025	$1,125	$1.10	15d	1	1.15mi
2442 Morton St Anderson, IN	2.0	1.0	862	$1,125	$1.31	24d	1	1.26mi
2324 Chase St Anderson, IN	2.0	1.0	783	$950	$1.21	44d	1	1.32mi

Listing history 4 events

1. 2026-05-18
   status Pending 879-char remark

   Show marketing remark (879 chars)

   Opportunity awaits with this character-filled home ready for your vision! With some interior and exterior updates, this property has the potential to shine. The enclosed front porch offers the potential for additional living space and a welcoming entry. Inside, you'll find hardwood flooring in the living room, dining room, and bedroom, along with charming built-in window seating in the dining area. The kitchen features some updated cabinetry, providing a solid starting point for further improvements. The home includes a full unfinished basement, offering easy access for mechanical updates and additional storage. Forced air heating is already in place, and the detached garage adds convenience and value. Whether you're looking for your next investment project or a property to renovate and make your own, this home offers strong potential at an affordable price point.

2. 2026-05-01
   price $35,000 879-char remark

   Show marketing remark (879 chars)

   Opportunity awaits with this character-filled home ready for your vision! With some interior and exterior updates, this property has the potential to shine. The enclosed front porch offers the potential for additional living space and a welcoming entry. Inside, you'll find hardwood flooring in the living room, dining room, and bedroom, along with charming built-in window seating in the dining area. The kitchen features some updated cabinetry, providing a solid starting point for further improvements. The home includes a full unfinished basement, offering easy access for mechanical updates and additional storage. Forced air heating is already in place, and the detached garage adds convenience and value. Whether you're looking for your next investment project or a property to renovate and make your own, this home offers strong potential at an affordable price point.

3. 2026-04-13
   price $40,000 879-char remark

   Show marketing remark (879 chars)

   Opportunity awaits with this character-filled home ready for your vision! With some interior and exterior updates, this property has the potential to shine. The enclosed front porch offers the potential for additional living space and a welcoming entry. Inside, you'll find hardwood flooring in the living room, dining room, and bedroom, along with charming built-in window seating in the dining area. The kitchen features some updated cabinetry, providing a solid starting point for further improvements. The home includes a full unfinished basement, offering easy access for mechanical updates and additional storage. Forced air heating is already in place, and the detached garage adds convenience and value. Whether you're looking for your next investment project or a property to renovate and make your own, this home offers strong potential at an affordable price point.

4. 2026-03-30
   listed $50,000 Active 879-char remark

   Show marketing remark (879 chars)

   Opportunity awaits with this character-filled home ready for your vision! With some interior and exterior updates, this property has the potential to shine. The enclosed front porch offers the potential for additional living space and a welcoming entry. Inside, you'll find hardwood flooring in the living room, dining room, and bedroom, along with charming built-in window seating in the dining area. The kitchen features some updated cabinetry, providing a solid starting point for further improvements. The home includes a full unfinished basement, offering easy access for mechanical updates and additional storage. Forced air heating is already in place, and the detached garage adds convenience and value. Whether you're looking for your next investment project or a property to renovate and make your own, this home offers strong potential at an affordable price point.

ⓘ 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: $1,313 · $109/mo
• Projected year-2 tax: $1,313 · $109/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: $11,448
• − Mortgage interest: −$1,961
• − Property taxes: −$1,313
• − Insurance: −$175
• − Repairs & maintenance: −$916
• − Management: −$916
• − Depreciation: −$1,018
• Taxable income: $5,149
• Est. tax owed @ 24.0%: −$1,236
• After-tax cash flow: $4,117/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

-30.0% since first listed

4 events — show timeline

• 2026-05-18 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-01 Price Changed $35,000 MIBOR as Distributed by MLS Grid
• 2026-04-13 Price Changed $40,000 MIBOR as Distributed by MLS Grid
• 2026-03-30 Listed $50,000 MIBOR as Distributed by MLS Grid

Property tax history

+16.2%/yr

Latest (2024): $1,313 · +293.2% YoY. Source: county tax records.