Attention investors seeking immediate cash flow and strong yield! Located at 1502 Cedar St, Anderson, IN, this single-family investment opportunity is offered at an attractive entry price of $70,000. Featuring 2 spacious bedrooms, 1 full bathroom, 1,104 square feet of main-floor living space, and a 563-square-foot unfinished basement, this property… Read More delivers a functional layout on a level 0.15-acre lot equipped with a classic covered front porch and a 120-square-foot detached storage shed. The property's central location provides tenants with convenient access to key local attractions, including Anderson University, the historic Paramount Theatre, Mounds State Park, Anderson Speedway, and Harrah's Hoosier Park Racing & Casino. The property is currently tenant-occupied and producing steady rental income of $825 per month, with a lease in place through April 27, 2027. This property easily satisfies the investor-favorite 1% rule, making it an ideal cash-flowing asset right out of the gate. For an investor, this in-place lease means instant, turn-key cash flow from the day of closing with zero initial vacancy, zero advertising expenses, and no tenant-placement hassle. Having a reliable tenant locked in through Spring 2027 provides long-term stability and predictable income to cover your investment. Paired with low annual property taxes of roughly $491 per year, this home keeps your holding costs low and your net margins high. When the lease expires in April 2027, you retain complete strategic flexibility: you can choose to sign a lease renewal, adjust rents upward to capture future market growth, or perform selective cosmetic updates to boost forced equity and long-term appreciation. Whether you are expanding an established rental portfolio or securing your first income property, 1502 Cedar St combines a low entry price, minimal holding overhead, strong 1% rule performance, and guaranteed day-one returns. Schedule your showing today to add this turn-key cash genera Read Less
Courtesy of Trueblood Real Estate.
Listing Snapshot
Days Online
5
Last Updated
Property Type
Single Family Residence
Beds
2
Full Baths
1
Square Ft.
1,667
Lot Size
0.15 Acres
Year Built
1929
MLS Number
22119004
30 Days Snapshot Of 46016
$84k
-23%
(avg) sold price
16
-5%
homes sold
109
+94%
(avg) days on market
Snapshot
Area Map
Additional Details
Appliances & Equipment
Description: Microwave, Electric Oven, Washer, Refrigerator, Dryer
Building
Area: 1295, Architecture: Bungalow, Building Area: 1667, Construction Materials: Wood Siding, Levels: One, Year Built: 1929
Cooling
Details: Window Unit(s)
Heating
Heating: Forced Air
Laundry
Description: Laundry Room
Lot
Acres: 0.15, MLS Acres: <1/4 Acre
Utilities
Water Source: Public
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Listings courtesy of MIBOR Broker Listing Cooperative as distributed by MLS GRID, based on information submitted to the MLS GRID as of . Information is provided exclusively for consumers' personal noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may be listed or sold by various participants in the MLS, who may not be the office/agent presenting the information.
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