Views
Address
1502 Cedar, Anderson, IN
Price
$ 70,000
Property Attributes
- MLS#22119004
- TypeSingle Family
- Listing Status Active
- CountyMADISON
- CityAnderson
- AreaAnderson
- NeighborhoodHazelwood
- Zip46016
- StyleBungalow
- Year Built1929
- Taxes$ 492
- Price$ 70,000
- Bedrooms2
- Full Bathrooms1
- Half Bathrooms0
- Sqr Footage1667
- Lot Size0.15 Acres
Data Source:
MIBOR Broker Listing Cooperative
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
| Middle School |
|---|
| Highland Middle School |
| Price History | |
|---|---|
| 8/8/2026 | Listed $70,000 |
General Features
| Heating | Forced Air |
|---|---|
| Cooling | Window Unit(s) |
| Possession | Negotiable |
| Appliances | Microwave,Electric Oven,Washer,Refrigerator,Dryer |
| Architectural Style | Bungalow |
| Security Features | Smoke Detector(s) |
| Construction Materials | Wood Siding |
| Year Built | 1929 |
| View | Trees/Woods |
| Township | Anderson |
| Levels | One |
| Property Subtype | Single Family Residence |
| Tax Year | 2025 |
| County | Madison |
| New Construction | No |
| Property Type | Residential |
| HOA | No |
| Subdivision Name | Hazelwood |
| Garage Y/N | No |
| Total Rooms | 5 |
| Full Baths | 1 |
| Status | Active |
| Directions | GPS Friendly |
| City | Anderson |
| High School District | Anderson Community School Corp |
| MLS Area | 4810 - Madison - Anderson NW |
| Lot Size Square Feet | 6350 |
| Property Attached Y/N | No |
| Middle/Junior High School | Highland Middle School |
| Standard Status | Active |
| Tax Lot | 18-387-14 |
| Legal Description | Hazelwood 0.0000Acres Str: 00000 Section: Plat: 00 In: Out: |
Interior Features
| Interior Amenities | Attic Access,Hi-Speed Internet Availbl |
|---|---|
| Basement (Y/N) | Yes |
| Laundry Features | Laundry Room |
| Total Bedrooms | 2 |
| Below Grade Finished Area | 191 |
| Main Level Bedrooms | 2 |
| LivingAreaSource | Assessor |
| Total Baths | 1 |
Exterior Features
| Water Source | Public |
|---|---|
| Foundation Details | Block |
| Building Area Total | 1667 |
| Lot Size Acres | 0.15 |
| Waterfront Y/N | No |
| Horse Amenities | None |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Single Family Average in 46016
Price
Taxes
Year Built
Visits
MIBOR REALTOR® Association All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating to real estate for sale on this website comes in part from the Internet Data Exchange program of the Multiple Listing Service. Real estate listings held by brokerage firms other than eXp Realty in Metropolitan Indianapolis may be marked with the Internet Data Exchange logo and detailed information about those properties will include the name of the listing broker(s) when required by the MLS. Copyright ©2026 All rights reserved.
Last Updated: August 19, 2026 6:28 PM UTC
IDX information is provided exclusively for consumers personal, non-commercial 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 accurate by the MLS. IDX information is provided by the Indiana Regional MLS.
Information last updated on August 19, 2026 6:40 PM UTC
The content relating to real estate for sale and/or lease on this Web site comes in part from
the Internet Data eXchange ("IDX") program of the Northwest Indiana REALTORS® Association Multiple Listing Service ("NIRA MLS"). and is communicated verbatim, without change, as filed by its members. This information is being provided for the consumers' personal, noncommercial use and may not be used for any other purpose other than to identify prospective properties consumers may be interested in purchasing
