REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

Dianna Clampitt

diannaclampitt@gmail.com +1(317) 281-8129

Listed by John-Thomas Bell • Trueblood Real Estate

$ 70,000

Est. payment -/mo

Save

New

1502 Cedar Anderson, IN 46016

2 Beds

1 Bath

1,667 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Single Family Residence

Listing Status Active

Purchase Type For Sale

Square Footage 1,667 sqft

Price per Sqft $41

Subdivision Hazelwood

MLS Listing ID 22119004

Bedrooms 2

Full Baths 1

HOA Y/N No

Year Built 1929

Tax Year 2025

Lot Size 6,534 Sqft

Acres 0.15

Property Sub-Type Single Family Residence

Property Description

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 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

Location

State IN

County Madison

Rooms

Main Level Bedrooms 2

Interior

Interior Features Attic Access, Hi-Speed Internet Availbl

Heating Forced Air

Cooling Window Unit(s)

Fireplace N

Appliance Microwave, Electric Oven, Washer, Refrigerator, Dryer

Exterior

View Y/N true

Water Access Desc Public

View Trees/Woods

Building

Story One

Foundation Block

Water Public

Architectural Style Bungalow

Structure Type Wood Siding

New Construction false

Schools

Middle Schools Highland Middle School

School District Anderson Community School Corp

Nearby Locations

Dianna Clampitt

Broker

+1(317) 281-8129

Dianna Clampitt

1502 Cedar Anderson, IN 46016

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Nearby Locations

GET MORE INFORMATION

Go tour this home

1502 Cedar