# 1502 Cedar, Anderson, IN 46016 > **TL;DR:** 2bd/1ba single family, $65,000 ($50/sqft), built 1929, 1,295 sqft. > A/C. Est. $348/mo. Listed 53 days. ## Property at a Glance | Attribute | Value | |-----------|-------| | Price | $65,000 | | Price/sqft | $50 | | Bedrooms | 2 | | Bathrooms | 1 full | | Square Feet | 1,295 | | Year Built | 1929 | | Lot Size | 6,534 sqft (0.15 acres) | | Stories | 1 | | Property Type | Single Family (Single Family Residence) | | Status | Active | | Days on Market | 53 | ## Estimated Monthly Costs | Category | Amount | |----------|--------| | Principal & Interest (20% down, 30-year at 6.5%) | $329 | | Estimated Insurance | $19 | | **Total** | **$348** | ## Nearby Schools - **Middle:** Highland Middle School ## Key Amenities - A/C ## Property Highlights - Built in 1929 - 0.15 acre lot ## Description ### Agent 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 - **Address:** 1502 Cedar, Anderson, IN 46016 - **County:** Madison - **Neighborhood:** Hazelwood - **Coordinates:** 40.100841, -85.692889 - **Google Maps:** https://www.google.com/maps?q=40.100841,-85.692889 ## Listing Agent - **Name:** John-Thomas Bell - **Brokerage:** Trueblood Real Estate - **Phone:** (317) 679-6330 - **Broker Phone:** (317) 679-6330 - **Listing URL:** [View original listing](https://www.realtor.com/realestateandhomes-detail/1502-Cedar-St_Anderson_IN_46016_M41172-75394?f=listhub&s=MIBORIN&m=22119004&c=propsimple) ## Photos ![1502 Cedar - Photo 1](http://lh.rdcpix.com/8a9548e49564df079ab8188cc5704e9el-f341300402r.jpg) ![1502 Cedar - Photo 2](http://lh.rdcpix.com/8a9548e49564df079ab8188cc5704e9el-f3826438606r.jpg) ![1502 Cedar - Photo 3](http://lh.rdcpix.com/8a9548e49564df079ab8188cc5704e9el-f3953762377r.jpg) ![1502 Cedar - Photo 4](http://lh.rdcpix.com/8a9548e49564df079ab8188cc5704e9el-f10525424r.jpg) ![1502 Cedar - Photo 5](http://lh.rdcpix.com/8a9548e49564df079ab8188cc5704e9el-f2955338421r.jpg) ![1502 Cedar - Photo 6](http://lh.rdcpix.com/8a9548e49564df079ab8188cc5704e9el-f4251496968r.jpg) ![1502 Cedar - Photo 7](http://lh.rdcpix.com/8a9548e49564df079ab8188cc5704e9el-f1849016156r.jpg) ![1502 Cedar - Photo 8](http://lh.rdcpix.com/8a9548e49564df079ab8188cc5704e9el-f1153050051r.jpg) ![1502 Cedar - Photo 9](http://lh.rdcpix.com/8a9548e49564df079ab8188cc5704e9el-f88060553r.jpg) ![1502 Cedar - Photo 10](http://lh.rdcpix.com/8a9548e49564df079ab8188cc5704e9el-f2873581789r.jpg) ![1502 Cedar - Photo 11](http://lh.rdcpix.com/8a9548e49564df079ab8188cc5704e9el-f4240761017r.jpg) ![1502 Cedar - Photo 12](http://lh.rdcpix.com/8a9548e49564df079ab8188cc5704e9el-f1797986420r.jpg) ![1502 Cedar - Photo 13](http://lh.rdcpix.com/8a9548e49564df079ab8188cc5704e9el-f3552894757r.jpg) ![1502 Cedar - Photo 14](http://lh.rdcpix.com/8a9548e49564df079ab8188cc5704e9el-f2848914663r.jpg) ![1502 Cedar - Photo 15](http://lh.rdcpix.com/8a9548e49564df079ab8188cc5704e9el-f2595495050r.jpg) ![1502 Cedar - Photo 16](http://lh.rdcpix.com/8a9548e49564df079ab8188cc5704e9el-f1233616009r.jpg) ![1502 Cedar - Photo 17](http://lh.rdcpix.com/8a9548e49564df079ab8188cc5704e9el-f2910979992r.jpg) ![1502 Cedar - Photo 18](http://lh.rdcpix.com/8a9548e49564df079ab8188cc5704e9el-f1662108461r.jpg) ![1502 Cedar - Photo 19](http://lh.rdcpix.com/8a9548e49564df079ab8188cc5704e9el-f2027962900r.jpg) --- **MLS#:** 22119004 | **Updated:** 2026-09-26 **Source:** listhub *Copyright © 2026 Broker Listing Cooperative®. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.* [View on PropertySimple](https://www.propertysimple.ai/listing/1502-cedar-anderson-in-46016-22119004) --- ## Structured Data ```json { "@context": "https://schema.org", "@type": "RealEstateListing", "@id": "https://www.propertysimple.ai/listing/1502-cedar-anderson-in-46016-22119004#listing", "url": "https://www.propertysimple.ai/listing/1502-cedar-anderson-in-46016-22119004", "name": "1502 Cedar, Anderson, IN 46016", "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. 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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. 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