Buy & Hold, BRRR, or Fix & Flip SFH
1707 Pearl Street Anderson, IN
$65,000
This 1092 sq ft 3/1 SFH is currently rented way below market but could be vacant at closing. This adorable bungalow with large inviting covered front porch and fenced in backyard has so much potential either as a Buy and Hold with Avg Market Rent of $1135 per Rentometer, (based on 32 other 3/1 rentals over the past year within 1 ½ miles of this property), providing 1.7%, blowing away The 1% Rule, as a BRRR or as a Fix and Flip with avg ARV of $120,054 (please see Comps below).
The property could benefit from some minor inexpensive cosmetic attention: scrape/paint or replace some of the outside trim, repair damaged step, replace attic vent, although the siding is in very good condition, some areas could use a power wash to remove pollen, discard rusty shed, on the inside some areas might benefit from some fresh paint and touch ups, and there is a small area at the entrance of kitchen where the flooring doesn’t match, but otherwise there are no known issues and everything is in good working order. Owner does not know age of roof or mechanicals. Nothing has to be done, but if you decide to do the cosmetic repairs it should cost under $5k.
MLS Comps: mls_comp_20260602_140358.pdf – Google Drive
Click here for additional photos and video: Pics 1707 Pearl St Anderson, IN – Google Drive