1502 Cedar Street

Investor opportunity at $65,000. 1502 Cedar St in Anderson is a 2 bed, 1 bath single-family home with 1,104 sq ft on the main floor plus a 563 sq ft unfinished basement, on a level 0.15-acre lot with a covered front porch and a 120 sq ft detached storage shed. It's currently rented at $825/month on a lease through April 27, 2027, which clears the 1% rule at this price. Property taxes run about $491 a year, so holding costs stay low. The lease also gives a buyer options. The lease terms allow it to be ended with 60 days' written notice if the property is sold. You can keep the tenant in place and collect rent from the day you close, or give notice and take the home back to renovate, re-lease at a new rate, or move in yourself. If you keep the tenant, you can renew or adjust rent when the lease ends in April 2027. Close to Anderson University, the Paramount Theatre, Mounds State Park, Anderson Speedway, and Harrah's Hoosier Park. Seller financing possible with at least 20% down.