Madison County, Anderson, IN 46016

Location: Anderson, IN Asking Price: $79,900 After Repair Value (ARV): $113,070 Estimated Rehab: ~$10,000 Potential Gross Profit: ~$23,170 (ARV - Asking - Rehab) Property Details: Bedrooms: 3 Bathrooms: 1 Square Footage: 1,240 SqFt Lot Size: 10,368 SqFt Year Built: 1889 Units: 1 Investor Highlights: * Value Add Opportunity: Vacant with immediate access, giving the next owner the ability to complete the estimated ~$10,000 rehab and place a tenant at current market rent without inheriting an existing lease. * Rental Potential: Pro forma rent is $1,150/month. Rentometer supports this projection with an average 3-bedroom rent of $1,150/month and a median of $1,100 within a 0.33-mile radius. * Neighborhood Insight: Anderson is approximately 35 miles northeast of Indianapolis. The property also sits near a city park and school, supporting its appeal as a long-term family rental. * Cap Rate / NOI Insights: Stabilized operations project approximately $9,930/year in NOI and a 12.4% pro forma cap rate based on the $79,900 purchase price. * Pro Forma vs Current Actual Status: The property is currently vacant with no lease or rent to inherit. Stabilized pro forma performance projects $1,150/month in gross rent and $9,930/year NOI. A stabilized actual NOI or actual cap rate is not provided because the property is currently vacant. Water, sewer, trash, electric, and gas are projected as tenant-paid. No separate disposition price is provided; the stated ARV is $113,070. * Other Selling Points: Large fully fenced 10,368 SqFt lot with alley access on two sides, hardwood floors, approximately 10-foot ceilings, formal dining room, long covered porch, and Victorian character. Rehab Notes: * Light Rehab: Approximately $10,000 estimated scope. * Scope should focus on preparing the vacant property for market rent; exact individual repair items should be verified during buyer due diligence. * Wood-frame construction with siding and a pitched asphalt-shingle roof. Utilities are structured to be tenant-paid, helping minimize owner-paid operating expenses. Comps: 1. 1019 W 9th St, Anderson, IN 46016 – $94,211 – 3 Bed/1 Bath – 0.20 mi 2. 711 S Madison Ave, Anderson, IN 46016 – $133,879 – 3 Bed/1 Bath – 0.21 mi 3. 803 W 12th St, Anderson, IN 46016 – $88,260 – 3 Bed/1 Bath – 0.23 mi 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!