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Muncie,IN 47303
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Pending
Purchase Type For Sale
Subdivision No Subdivision
MLS Listing ID 22027140
Year Built 1928
Tax Year 2023
Lot Size 8,712 Sqft
Acres 0.2
Property Sub-Type Duplex
Property Description
Cash flowing duplex, Unit 1 is 2 bed 1 bath and unit 2 is 1 bed 1 bath. Update completed in 2022, newer appliances, fresh interior paint. Water Heater less than 3 years old. Unit 1 rent is $800 a month and Unit 2 rent is $675 a month with 20% down return is 9% annualized. $100 rent increase makes that return 14%. Proforma snapshot included in documents. Owner pays w/s/t. Economic growth remains steady with strong housing demand per Indiana Business review. The most recent forecast from Indiana University's Center for Econometric Model Research shows employment growth of 1.89% over the next two years (2023 Q4 to 2025 Q4). Personal income is expected to increase 3.4% through 2027. Property is being offered as part of a 4 unit package. An additional 2 unit package is also available, addresses and financials included in attached documents. Attached photos were taken before property was rented. Seller will not work with wholesalers or consider creative finance options. For additional questions and to arrange showings reach out to listing agent. Proof of funds and 24hr notice required for all showings
Location
State IN
County Delaware
Interior
Cooling Central Electric
Fireplace N
Exterior
Garage Spaces 2.0
Building
Story One and One Half
Architectural Style TraditonalAmerican
Structure Type Vinyl Siding
New Construction false
Schools
School District Muncie Community Schools