Madison County, Anderson, IN 46016

Location: Anderson, IN Asking Price: $144,900 After Repair Value (ARV): $180,000 Property Details: Bedrooms: 2 per unit Bathrooms: 1 per unit Square Footage: 1,544 SqFt Year Built: 1890 Units: 2 Investor Highlights: -Fully leased duplex with both units occupied, providing income from day one with no lease-up needed. -Current gross rent is $1,528/month with upside to $1,938/month pro forma — a $410/month increase, or $4,920/year in additional gross rent potential. -Actual NOI is $14,371/year at a confirmed 9.9% cap rate on the $144,900 asking price. -Pro forma NOI increases to $18,553/year with a 12.80% pro forma cap rate at market rents. -Pro forma performance represents approximately $4,182/year of additional NOI compared with current actual performance. -Utilities are tenant-paid, helping keep owner operating expenses lower. -Major improvements were completed in 2021, including foundation reinforcement, new main beam/bracing, HVAC and furnace replacement, 14 replacement windows, updated plumbing supply and drain lines, new drywall, remodeled kitchens and bathrooms, and new flooring. -In 2026, a private interior staircase and large private balcony were added for the upstairs unit. -Off-street parking is available from the rear alley, and the upper apartment includes in-unit laundry. Rehab Notes: -Property presents as a largely updated, income-producing asset with major capital improvements already completed. -Foundation reinforcement, HVAC/furnace, windows, plumbing, drywall, kitchens, bathrooms, and flooring were updated as owner-disclosed improvements. -Roof was repaired, not replaced, and siding was touched up rather than replaced. -Improvements are owner-disclosed and have not been independently verified by invoice. Terms: -CASH BUYERS ONLY: Requires quick and reliable funding. -SOLD AS-IS: No repairs will be made by the seller. -Act Fast: Deals like this in growing areas don't last long! Call to Action: Contact Todd for more details and to learn the exact location: