Active

1502 Cedar

Anderson, IN 46016
Mark as Favorite
Bed 2

Bed

Bath 1

Bath

SqFt1,667

Sqft

Acres0.15

Acre(Lot)

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 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 stead y 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 More Expand

Detail Ic Property Details

Property Type : Residential

Price : $70,000

AD Id : 89245067

MLS Id : MBR22119004

Beds : 2

Lot Size : 0.15 Acre

Living Area Size : 1,667

Year Built : 1929

County : Madison

Subdivision: Hazelwood

  • Map Map

Map

Map What's Nearby

Map Nearby Areas

Feature Features

  • Bedroom Information

    Total Bedroom: 2

    Bathroom Information

    Total Baths: 1 Full Baths: 1

    Room Information

    Rooms Total: 5 Has Basement: Yes

    Interior Features

    Attic Access, Hi-Speed Internet Availbl Appliances: Microwave, Electric Oven, Washer, Refrigerator, Dryer Laundry Features: Laundry Room
  • Flooring Information

    Construction Materials: Wood Siding
  • Heating & Cooling

    Heating: Forced Air Cooling: Window Unit(s) WaterSource: Public

  • Building Information

    Year Built: 1929

  • Lot Information

    Lot Square Feet: 6350 Lot Acres: 0.15

    Property Information

    Property Type: Residential Sub Type: Single Family Residence Style: Bungalow

  • Listing Price Information

    Original List Price:$70000

  • Tax Information

    Tax Lot: 18-387-14 Tax Legal Description: Hazelwood 0.0000Acres Str: 00000 Section: Plat: 00 In: Out: Tax Year: 2025 Parcel Number: 481114104038000003

  • School Information

    Junior High School: Highland Middle School
  • Utility Information

    Water Source: Public
  • Location Information

    Subdivision: Hazelwood City: Anderson Direction: GPS Friendly
Sell a home like this and save $3,701 Find out How

How much is this property worth?

Curious about this home's true market value? Use our free Home Evaluation Tool to instantly get a personalized Comparative Market Analysis (CMA) report. Make smarter, data-driven decisions before you buy.

Images
Loading, please wait...

Nearby Home Value

Address Estimate Bed Bath Sq. Ft Lot Size
1807 E 18th Street, Anderson, IN, 46016 $129,900 3 1 1,120 1,120 SqFt
2010 Ohio Avenue, Anderson, IN, 46016 $125,000 2 1 1,872 1,872 SqFt
9 Dixie Drive, Anderson, IN, 46016 $130,000 2 1 1,842 1,842 SqFt
1311 E 23rd Street, Anderson, IN, 46016 $59,900 2 1 728 728 SqFt
1132 Manor Court, Anderson, IN, 46016 $65,000 3 1 1,957 1,957 SqFt
1720 Johnson Avenue, Anderson, IN, 46016 $149,900 3 1 1,368 1,368 SqFt
1016 E 29th Street, Anderson, IN, 46016 $94,900 3 1 1,008 1,008 SqFt
2209 E Lynn Street, Anderson, IN, 46016 $54,900 3 1 1,893 1,893 SqFt
911 Washington Boulevard, Anderson, IN, 46016 $134,900 3 1 1,465 1,465 SqFt
627 E 31st Street, Anderson, IN, 46016 $78,900 2 1 948 948 SqFt
Broker Logo

Disclaimer: The information being provided courtesy of MIBOR REALTOR® Association as distributed by MLS GRID and is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the MIBOR REALTOR® Association. ByOwner.com is not a Multiple Listing Service (MLS), nor does it offer MLS access. ByOwner.com is a broker participant of MIBOR REALTOR® Association. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site.

Based on information submitted to the MLS GRID as of 08/11/2026 @ 06:20. All data is obtained from various sources and may not have been verified by the 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 or may not be listed by the office/agent presenting the information.
Properties displayed may be listed or sold by various participants in the MLS.

Consumer use of IDX Listings Disclaimer: Based on information submitted to the MLS GRID as of 08/11/2026 @ 06:20. 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 or may not be listed by the office/agent presenting the information. The data is deemed reliable but is not guaranteed by MLS GRID. The use of the MLS GRID Data may be subject to an end user license agreement prescribed by the Member Participant’s applicable MLS if any and as amended from time to time.


DMCA Notice: The Digital Millennium Copyright Act of 1998, 17 U.S.C. § 512 (the “DMCA”) provides recourse for copyright owners who believe that material appearing on the Internet infringes their rights under U.S. copyright law. If you believe in good faith that any content or material made available in connection with our website or services infringes your copyright, you (or your agent) may send us a notice requesting that the content or material be removed, or access to it blocked. Notices must be sent in writing by email to DMCAnotice@MLSGrid.com.
“The DMCA requires that your notice of alleged copyright infringement include the following information:
(1) description of the copyrighted work that is the subject of claimed infringement;
(2) description of the alleged infringing content and information sufficient to permit us to locate the content;
(3) contact information for you, including your address, telephone number and email address;
(4) a statement by you that you have a good faith belief that the content in the manner complained of is not authorized by the copyright owner, or its agent, or by the operation of any law;
(5) a statement by you, signed under penalty of perjury, that the information in the notification is accurate and that you have the authority to enforce the copyrights that are claimed to be infringed; and
(6) a physical or electronic signature of the copyright owner or a person authorized to act on the copyright owner’s behalf. Failure to include all of the above information may result in the delay of the processing of your complaint.

ByOwner last updated this listing 08/11/2026 @ 06:20

MLS: MIBOR #22119004 LISTED BY: John-Thomas Bell, Trueblood Real Estate 317-288-5148 SOURCE: MIBOR REALTOR® Association (Listings courtesy of MIBOR REALTOR® Association as distributed by MLS GRID)

Homes around $70,000

Selling? Save $3,701 when you sell a home like this

Tour with a ByOwner Agent