1502 Cedar St, Anderson, IN 46016
Property image
Property image
FOR SALE

$70,000

  • 2 Beds
  • 1 Bath
  • 1,667 sqft

1502 Cedar St, Anderson, IN 46016

Est. Mortgage $486/mo*
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Home Highlights

Single-Family Home
Built in 1929
$42/sqft

Local Information

  • Map ViewExplore the area around 1502 Cedar St.
  • Schools1 Elementary School1 Middle School1 High School
  • Shop & Eat
-- mins to
Commute Destination

About this House

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
Last check for updates: about 12 hours ago
Listing Provided by: John-Thomas Bell
Trueblood Real Estate
Source: MIBOR as distributed by MLS GRID, MLS#22119004
Also Listed on MIBOR as distributed by MLS GRID.

Home Details for 1502 Cedar St

Active Status

MLS Status: Active

Interior Features

Interior Details
Number of Rooms: 5Types of Rooms: Bedroom 2, Bonus Room, Kitchen, Living Room
Beds & Baths
Number of Bedrooms: 2Main Level Bedrooms: 2Number of Bathrooms: 1Number of Bathrooms (full): 1Number of Bathrooms (main level): 1
Dimensions and Layout
Living Area: 1667 Square Feet
Appliances & Utilities
Appliances: Microwave, Electric Oven, Washer, Refrigerator, DryerDryerLaundry: Laundry RoomMicrowaveRefrigeratorWasher
Heating & Cooling
Heating: Forced AirHas CoolingAir Conditioning: Window Unit(s)Has HeatingHeating Fuel: Forced Air
Levels, Entrance, & Accessibility
Stories: 1Levels: One
View
Has a ViewView: Trees/Woods
Security
Security: Smoke Detector(s)

Exterior Features

Exterior Home Features
Foundation: Block
Parking & Garage
No Garage
Farm & Range
Horse Amenities: None
Finished Area
Finished Area (below surface): 191 Square Feet

Days on Market

Cumulative Days on Market: 29Days on Market: 36

Property Information

Year Built
Year Built: 1929
Property Type / Style
Property Type: ResidentialProperty Subtype: Residential, Single Family ResidenceArchitecture: Bungalow
Building
Construction Materials: Wood SidingNot a New ConstructionNot Attached Property
Property Information
Parcel Number: 481114104038000003

Price & Status

Price
List Price: $70,000Price Per Sqft: $42
Status Change & Dates
Possession Timing: Negotiable

Location

Direction & Address
City: AndersonCommunity: Hazelwood
School Information
Jr High / Middle School: Highland Middle SchoolHigh School District: Anderson Community School Corp

Agent Information

Listing Agent
Listing ID: 22119004

Building

Building Area
Building Area: 1667 Square Feet

HOA

No HOA

Lot Information

Lot Area: 6534 sqft

Miscellaneous

BasementMls Number: 22119004Attic: Access Only

Around this home

What Locals Say about Anderson

At least 377 Trulia users voted on each feature.

  • 89 % Say car is needed

  • 83 % Say yards are well-kept

  • 82 % Say parking is easy

  • 71 % Say there's holiday spirit

  • 66 % Say it's dog friendly

  • 62 % Say kids play outside

  • 61 % Say there are sidewalks

  • 51 % Say neighbors are friendly

  • 44 % Say streets are well-lit

  • 44 % Say there's wildlife

  • 42 % Say they plan to stay for at least 5 years

  • 42 % Say people would walk alone at night

  • 41 % Say it's quiet

  • 29 % Say it's walkable to restaurants

  • 29 % Say it's walkable to grocery stores

  • 23 % Say there are community events

Sourced by Trulia users. Learn more about our methodology.
  • Trulia User
    "Dogs are welcome "
    0
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  • Trulia User
    "Having a good time "
    0
    Flag
  • Cameron barth
    "We live in a very nice area of town there are some not so nice areas of town there a nice parks in are area "
    0
    Flag
  • Allstardevontay
    "Anderson is a very very little town but has potential to be somthing way bigger. It’s not what it used to be to be. "
    1
    Flag
  • Vg4pvvc7zy
    "It’s calm and very quiet. Nothing much to really worry about , neighbors are great and very polite. "
    0
    Flag
  • Allison Cage
    "Do not move to Anderson. Gun shots, pedestrians getting bit, sliced tires and robbery. This is a terrible place to live. "
    1
    Flag
  • 5mmr8rmk47
    "A fenced in space for dogs to run/play freely. Dog park! An updated play ground for the kids to play. "
    0
    Flag
  • Sw200972
    "This city can be a great place to raise your children! Very family oriented not a lot for the youth to do unless you put them in sports."
    0
    Flag
  • Monicam711
    "It’s a quiet dead end road. It’s very peaceful and even though it’s off the busiest street through Anderson. It is a little quiet piece of paradise."
    1
    Flag
  • Emiliomanuel6
    "I have live here 3 years now and I have not have no issues and I do own a shop and work is good but dose get slow "
    5
    Flag
  • Aprilsshop.ah
    "I commute by car to work everyday to Indianapolis. The drive is about 40 minutes and not too bad.I use the time to think about my day."
    0
    Flag
  • Aprilsshop.ah
    "My neighborhood is very friendly. The neighbors all help each other out and know each other by name. The horses are way cheaper than Indy and the Connie isn’t bad. "
    1
    Flag
  • Aprilsshop.ah
    "My neighbors are fabulous people. I really like it here.i also love the old houses. I also think that the neighborhood I is improving. Plus the house’s are cheaper here."
    1
    Flag
  • Trulia User
    "no one is friendly with dogs. even when they know your dog, or know who the dog belongs to, they call the police to pick them up instead of telling you they seen them loose. "
    2
    Flag
  • Trulia User
    "about there surroundings and who they live by and whats going on. Also the crime rate and if there are predators near by and what the police presence and response time is."
    5
    Flag
  • Trulia User
    "There's a good, safe park, down 38th St., Nice and a playground for the children, a basketball court, I mean I really like the park, I take my grandkids. And there's a fruit/vegetable Market on Main St, between 38th and 53rd St. I'm a happy mom and grandma. "
    1
    Flag
  • Trulia User
    "very secure living for all ages and all people and pets safety environments for all ages and pets and not only children "
    0
    Flag
  • Kay
    "I've lived in Anderson for awhile and it's fine. Some streets do have potholes but they are fixing them up."
    3
    Flag
  • Zeeket30.ab
    "There isnt a good area to walk your dog without worrying about cars. There are many dogs in the neighborhood, both well controlled and not."
    0
    Flag
  • Kierra T.
    "Large field for them to romp around in. Most dogs we’ve encountered have been well behaved and well cared for."
    0
    Flag
  • Kathy H.
    "These people are miserable, uneducated, over 70% of the school pop is on Public Assistances. Nothing but a bunch of rentals unless you build in the county or city limits edge. No Mall, nothing but that good old buddy system in leadership."
    0
    Flag
  • Brandy K.
    "Public transit is very limited. You gotta be gangster to not have packages stolen. Area over run with dope fiends. Get a security system for sure. "
    17
    Flag
  • Madi H.
    "The roads are terrible and are always full of potholes but it’s decently close to the interstate I guess"
    6
    Flag
  • Lisa R. C.
    "Just depends on which side of town you live. North or East is best. Church groups provide community gatherings and there are neighborhood rummage sales. But this isn’t Mayberry folks!"
    7
    Flag
  • Cierra P.
    "the local church has a food bank to help out low income families. There are also laundry resources and the place I work at helps place people at a good job."
    4
    Flag
  • Lynda3330
    "Parks, parades, dining, social gatherings, 4 golf crs. It’s a very very nice place to live. Close to Fishers"
    0
    Flag
  • Lynda3330
    "Our family moved into this neighborhood three years ago. I feel completely safe. Neighbors are friendly. Most of the guys in our neighborhood get together once a month to play cards. Everyone looks out for each other and in times of need all pitch in to help each other."
    0
    Flag
  • Rachel B.
    "Too much crime and drugs. Car windows shot out. The smell from the water treatment plant is enough to make you sick! "
    0
    Flag
  • Cbarloe
    "Great neighbors, parents look after their children. Just a great neighborhood. People take care of their property. Thank you. "
    5
    Flag
  • Keyshawnkeyshawn
    "Close to school good neighbor hood I like it for the most part no problems could be better but same issues as anywhere else "
    0
    Flag
  • Stephanie G.
    "I think it’s nice for the most part, but we do have a lot of cops which can kind of scare some people "
    4
    Flag
  • Arw0926
    "Not any dog parks! They should make a few dog parks in this area!They might like all the sidewalks. They might like all the stores that sell dog treats and everything for pets! There are also a lot of veterinarians in this area. Even 24 hour emergency vets!"
    4
    Flag
  • Trulia User
    "Keep children away, used to be a safe place... but not do much anymore! No parks, no schools, no recreational activities. Only thing for kids to do is get in trouble! SAD!!!"
    10
    Flag
  • Kaylaramseyer
    "I wouldn't move my family back to there if my life depended on it. It is running rampant with drugs. The schools are absolutely terrible. We drove out of district because of how bad they are. "
    4
    Flag
  • Kaylaramseyer
    "I have lived in different parts of Anderson trying to find a comfortable area and haven't found it. cost of living is cheap. The schools are terrible we send our kids to Pendleton schools because they are so bad."
    3
    Flag
  • Jafunkhouser
    "This town as well as many others in Central Indiana have fell bye the wayside! The drugs, theft, and break ins are worse every year"
    3
    Flag
  • Mrs. L. M.
    "Good place to live. I have raised 2 children here and they have thrived. People are friendly and neighbors want to help each other."
    1
    Flag
  • Rachel B.
    "There is a dog park on 8th and dewy, it is part of all. But surrounding neighborhoods aren’t that great. More likely to find away to take your pet as theirs. Usually if you mind your own and don’t make waves it’s alright."
    1
    Flag
  • Farisandco
    "Everyone in my immediate area of Van Buskirk Heights are terrific neighbors, as well as people. They are also loving pet people. You could not find neighbors any better in any community in the Country."
    1
    Flag
  • Rachel B.
    "We have none. Their have been block parties but the get shot up. Anderson City does alright stuff, but nothing special or significant. The pow wow is the same every year. The fireworks are something to see with the parade but that’s about it."
    1
    Flag

Market trends in Anderson

Last updated August 2026
Buyer'sMarketSeller'sMarket
Avg. sale price
$144K
$859MoM
Sale-to-List Price
98.4%
Price per sq ft
$101
$0MoM
Available listings
320
15MoM

Home Value

Learn more about this home's value by checking out the value of nearby homes and how much similar homes have sold for.

Comparable sales

These are recently sold homes that have a similar location or other similar features to this home, like bedrooms, bathrooms, and square footage. Get a sense of the expected prices in the area by viewing these homes.
Address
Distance
Property Type
Sold Price
Sold Date
Bed
Bath
Sqft
1310 Locust St, Anderson, IN
0.14
Single-Family Home
$29,000
07/31/26
3
1
1,782
1512 Locust St, Anderson, IN
0.07
Single-Family Home
$82,906
07/24/26
3
1
1,146
1430 W 14th St, Anderson, IN
0.27
Single-Family Home
$141,000
10/28/25
2
1
1,404
1209 Nichol Ave, Anderson, IN
0.22
Single-Family Home
$23,750
04/21/26
2
1
1,428
1310 W 13th St, Anderson, IN
0.22
Single-Family Home
$62,000
05/28/26
2
1
1,178
2005 Fairview St, Anderson, IN
0.43
Single-Family Home
$57,500
09/16/25
2
1
2,223
1503 Arrow Ave, Anderson, IN
0.47
Single-Family Home
$18,000
08/06/26
3
1
2,249
1702 Arrow Ave, Anderson, IN
0.47
Single-Family Home
$59,900
02/06/26
3
1
1,983

Nearby home prices

Get a sense of expected prices in the area by checking the value of nearby homes.
Address
Distance
Price
Bed
Bath
Sqft
Status
1525 Madison Ave, Anderson, IN 46016
0.05
$131,800
4
2
1,720
Off Market
1512 Locust St, Anderson, IN 46016
0.07
$82,906
3
1
1,146
Recently Sold
1531 Madison Ave, Anderson, IN 46016
0.06
-
2
1
1,052
Off Market
1415 Locust St, Anderson, IN 46016
0.09
$86,500
3
2
-
Off Market
1411 Locust St, Anderson, IN 46016
0.10
$65,000
5
2
4,102
Recently Sold
1333 Madison Ave, Anderson, IN 46016
0.10
$174,200
7
2
3,776
Off Market
1402 S Madison Ave, Anderson, IN 46016
0.10
$199,000
-
-
-
For Sale
1310 Locust St, Anderson, IN 46016
0.14
$29,000
3
1
1,782
Recently Sold
1603 Hendricks St, Anderson, IN 46016
0.11
$185,800
3
2
1,260
Off Market
1429 Sherman St, Anderson, IN 46016
0.16
$140,000
3
2.5
2,529
For Sale
1421 Sherman St, Anderson, IN 46016
0.16
$190,000
5
2
4,470
Off Market

Price and Tax history

DateEventPrice
Aug 8, 2026
Source: MIBOR as distributed by MLS GRID #22119004
Listed For Sale
$70,000
May 12, 2026
Source: Zillow Rentals
ListingRemoved
$825
May 6, 2026
Source: Zillow Rentals
PriceChange
$825
Price decreased by 3%
Mar 25, 2026
Source: Zillow Rentals
PriceChange
$850
Price decreased by 3%
Mar 19, 2026
Source: Zillow Rentals
Listed For Rent
$875

LGBTQ Local Legal Protections

John-Thomas Bell, Trueblood Real Estate
Based on information submitted to the MLS GRID as of 2026-09-13 01:03:06 PDT. 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. Some IDX listings have been excluded from this website. Click here for more information

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Frequently asked questions about 1502 Cedar St

  • What is the estimated monthly payment for 1502 Cedar St?
    Based on a $70,000 list price with 20% down at today's rates, the estimated monthly payment for 1502 Cedar St in Anderson, IN is approximately $498 (about $379 principal & interest, $44 property taxes, and $75 homeowner's insurance). This is an estimate. Actual payment depends on your loan terms.
  • How does the list price for 1502 Cedar St compare to homes in Anderson?
    1502 Cedar St in Anderson, IN is listed at $70,000, about 51% below the $144K median sale price in Anderson.
  • What do residents say about Anderson?
    Residents describe Anderson, IN as well-kept, easy to park in, and dog-friendly. Most residents say you need a car. See homes for sale in Anderson, IN.
  • What are the closest schools to 1502 Cedar St?
    The closest schools to 1502 Cedar St in Anderson, IN are Anderson High School (rated 3/10), Highland Jr High School (rated 5/10), Tenth Street Elementary School (rated 3/10).
  • Does 1502 Cedar St have air conditioning?
    Yes, 1502 Cedar St in Anderson, IN has air conditioning.
  • Does 1502 Cedar St have laundry facilities?
    Yes, 1502 Cedar St in Anderson, IN has in-unit laundry.
1502 Cedar St, Anderson, IN 46016 is a 2 bedroom, 1 bathroom, 1,667 sqft single-family home built in 1929. This property is currently available for sale and was listed by MIBOR as distributed by MLS GRID on Aug 8, 2026. The MLS # for this home is MLS# 22119004.