712 N Parkway Dr · Anderson, IN 46013

$49,900

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 42 Days on market

Built 1950 8,736 sqft lot $69/sqft · 46% below area Est $92k · 46% under ↓ 15% 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
• Livability +3.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.6/10.0
• Appreciation +0.0/10.0

Listing remarks

YOUR BLANK CANVAS! 2 Bed 1 Bath. Calling all Investors long term / short term, Sweat Equity Buyers, and Tiny Home DIYers! Built in 1950, this delightful 720 square foot single-family residence is a charming bungalow just begging for a new adventure. It's got all the vintage vibes with modern-day potential, promising a life of ease and possibilities. One single-story for easy main floor living. An absolutely beautiful front view of the neighborhood. Concrete paved driveway, generous 8736 square foot lot, with large backyard featuring 3 separate storage sheds, beckons for backyard barbecues, impromptu dance parties, or perhaps even a miniature golf course - your imagination is the only limit.

Key facts

• Large backyard
• Single story
• 8,736 sq ft lot

Tags

• SINGLE STORY
• CONCRETE PAVED DRIVEWAY
• LARGE BACKYARD
• 3 SEPARATE STORAGE SHEDS
• SHORT COMMUTE TO SHOPPING

Property features AI

Finance

• Other: Property listed in fixer condition

Exterior

• Utilities: Public water; Municipal sewer connected; Natural gas connected; Electric with circuit breakers
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Block foundation
• Exterior features: Storage shed; Less than 1/4 acre lot (about 0.2 acres); Has a view

Interior

• Kitchen: Kitchen on the main level (approx. 12 x 15); No appliances included
• Bedrooms: Two bedrooms on the main level (one described in remarks); Bedroom 2 on the main level (approx. 12 x 12)
• Bathrooms: One full bathroom with tub and shower
• Heating & cooling: Other heating; No central cooling
• Interior features: Attic access; Living room (approx. 12 x 15); Additional main-level room (approx. 12 x 12)
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $50k.

Deal economics

• At list price, monthly cash flow is $314 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($817 rent vs $50k).
• Recommended offer: $48k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.9% vs local median 6.1% 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: crime D-, amenities F, commute 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.
• Zoned schools: Anderson Elementary School (math 12% / reading 12%, grade F, #893 of 994 statewide, top 91%, 378 students, 92% FRL); Highland Middle School (math 9% / reading 22%, grade F, #293 of 330 statewide, top 90%, 914 students, 81% FRL); Anderson High School (math 21% / reading 51%, grade F, #261 of 369 statewide, top 71%, 1,790 students, 76% FRL).
• Market conditions: 151 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $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 + 3.0% rent growth), your $14k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 42 days — a 3% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $9k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $48,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 42 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 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.64% ✓
• Cap rate: 13.85%
• Cash-on-cash: 27.00%
• DSCR: 2.20
• GRM: 5.1

CMA / ARV

• ARV (median comp): $92,279
• List price: $49,900
• Delta: -45.92%
• 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
616 N Parkway Dr	0.05mi	2/1.0	720 (0%)	15mo	$115,000	$160	85
728 Lonsvale Dr	0.09mi	2/1.0	725 (+1%)	13mo	$80,000	$110	84
602 W 34th St	0.14mi	2/1.0	775 (+8%)	9mo	$125,000	$161	73
3826 Delaware St	0.39mi	2/1.0	672 (-7%)	10mo	$103,500	$154	62
912 Crescent Dr	0.25mi	2/1.0	816 (+13%)	5mo	$125,000	$153	62
616 Lonsvale Dr	0.09mi	3/1.0 (+1)	825 (+15%)	8mo	$150,000	$182	60
204 E 34th St	0.68mi	3/1.0 (+1)	728 (+1%)	4mo	$109,000	$150	58
128 E 36th St	0.66mi	2/1.0	762 (+6%)	4mo	$126,000	$165	57
4223 Delaware St	0.57mi	2/1.0	768 (+7%)	8mo	$52,000	$68	56
131 E 36th St	0.66mi	2/1.0	780 (+8%)	8mo	$133,500	$171	48
309 E 34th St	0.74mi	2/1.0	780 (+8%)	5mo	$130,000	$167	47
3923 Fernway Dr	0.50mi	2/1.0	812 (+13%)	18mo	$125,000	$154	41

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 · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 20.9%
• Equity multiple: 1.85×
• Total profit: $11,938
• Equity at exit: $7,440

10-year hold

• IRR: 29.1%
• Equity multiple: 3.59×
• Total profit: $36,189
• 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 46013

• Home prices YoY: -26.9%
• Active inventory: 151
• Price-to-rent: 5.1×

Monthly cashflow live

• Estimated rent: $817 high
• Mortgage (P&I): −$262
• Tax from tax record: −$48 /mo · $580/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$171
• Net cashflow: $314

Break-even live

Break-even rent $419

Max offer price $49,900

Occupancy floor 57%

Sensitivity live

Price	-10% $343	-5% $328	+0% $314	+5% $300	+10% $286
Rent	-10% $250	-5% $282	+0% $314	+5% $347	+10% $379
Rate	-1.0pp $339	-0.5pp $327	base $314	+0.5pp $301	+1.0pp $288

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 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2820 1/2 Fairview St Apt B Anderson, IN	1.0	1.0	450	$650	$1.44	0d	1	0.62mi
4325 S Madison Ave Anderson, IN	1.0–3.0	1.0–1.5	995	$1,112	$1.12	0d	5	0.63mi
3095 Central Ave Anderson, IN	1.0	1.0	600	$650	$1.08	0d	1	0.78mi
2527 Chase St Anderson, IN	1.0	1.0	400	$650	$1.62	45d	1	0.81mi
328 E 31st St Anderson, IN	1.0	1.0	600	$750	$1.25	45d	1	0.88mi
2408 Brown St Apt B Anderson, IN	1.0	1.0	500	$850	$1.70	25d	1	0.97mi
702 W 23rd St Anderson, IN	1.0	1.0	560	$595	$1.06	6d	1	1.01mi
2208 Hendricks St Unit 3 Anderson, IN	1.0	1.0	585	$600	$1.03	0d	1	1.05mi
3614 Columbus Ave Anderson, IN	1.0	1.0	553	$725	$1.31	16d	1	1.18mi
1712 Fairview St Unit 1712 Anderson, IN	1.0	1.0	450	$695	$1.54	25d	1	1.36mi
702 E 23rd St Anderson, IN	1.0	1.0	560	$595	$1.06	16d	1	1.41mi
1807 Meridian St Apt 4 Anderson, IN	2.0	1.0	600	$675	$1.12	0d	1	1.41mi
1614 W 18th St Anderson, IN	2.0	1.0	690	$975	$1.41	25d	1	1.45mi

Listing history 12 events

1. 2026-06-21
   days on market $49,900 Active 42 DOM
2. 2026-06-18
   days on market $49,900 Active 39 DOM
3. 2026-06-17
   days on market $49,900 Active 38 DOM
4. 2026-06-16
   days on market $49,900 Active 37 DOM
5. 2026-06-15
   days on market $49,900 Active 36 DOM
6. 2026-06-13
   days on market $49,900 Active 34 DOM
7. 2026-06-09
   days on market $49,900 Active 30 DOM
8. 2026-06-08
   days on market $49,900 Active 29 DOM
9. 2026-06-07
   days on market $49,900 Active 28 DOM
10. 2026-05-14
    price $55,900 776-char remark
11. 2026-05-06
    price $57,900 776-char remark
12. 2026-05-02
    listed $58,900 Active 776-char remark

ⓘ 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: $580 · $48/mo
• Projected year-2 tax: $580 · $48/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: $9,799
• − Mortgage interest: −$2,795
• − Property taxes: −$580
• − Insurance: −$250
• − Repairs & maintenance: −$784
• − Management: −$784
• − Depreciation: −$1,452
• Taxable income: $3,155
• Est. tax owed @ 24.0%: −$757
• After-tax cash flow: $3,015/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): 19,073
• Household income: $49,310
• Rent vs Own: 34.8% rent · 65.2% own
• Severe rent burden: 612.0

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: Predominantly White (83%)
• Race & ethnicity: White 83% Two or more races 8% Black 7% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Slovak 2% Italian 1%
• Foreign-born: 0% · Canada
• Languages at home: 97% English-only · Spanish 2%

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: ▼ -86.70%
• Current HPI: 235.7485
• Rent YoY: —
• 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

-15.3% since first listed

7 events — show timeline

• 2026-06-06 Relisted — MIBOR as Distributed by MLS Grid
• 2026-05-29 Listing Removed — MIBOR as Distributed by MLS Grid
• 2026-05-26 Price Changed $49,900 MIBOR as Distributed by MLS Grid
• 2026-05-20 Price Changed $50,000 MIBOR as Distributed by MLS Grid
• 2026-05-14 Price Changed $55,900 MIBOR as Distributed by MLS Grid
• 2026-05-06 Price Changed $57,900 MIBOR as Distributed by MLS Grid
• 2026-05-02 Listed $58,900 MIBOR as Distributed by MLS Grid

Property tax history

+3.5%/yr

Latest (2024): $580 · +3.5% YoY. Source: county tax records.