$153,000
109 1/2 N Martin St, Muncie, IN 47303
Current Rent **
$2,140
Projected Rent **
$2,622
Unit 1 Details
- Current Rent: $580
- Bedroom: 1 bd
- Bathroom: 1 ba
- Square Footage: 0 sqft
- Occupied: Yes
- Needs Repairs: No
- Off MLS: Yes
Unit 2 Details
- Current Rent: $430
- Bedroom: 1 bd
- Bathroom: 1 ba
- Square Footage: 0 sqft
- Occupied: Yes
- Needs Repairs: No
- Off MLS: Yes
Unit 3 Details
- Current Rent: $430
- Bedroom: 1 bd
- Bathroom: 1 ba
- Square Footage: 0 sqft
- Occupied: Yes
- Needs Repairs: No
- Off MLS: Yes
Unit 4 Details
- Current Rent: $700
- Bedroom: 2 bd
- Bathroom: 1 ba
- Square Footage: 0 sqft
- Occupied: Yes
- Needs Repairs: No
- Off MLS: Yes
(๐ ๐๐ป๐ฐ๐ถ๐ฒ, ๐๐ก) ๐ฉ ๐ฐ ๐จ๐ป๐ถ๐ ๐ฃ๐ฟ๐ผ๐ฝ๐ฒ๐ฟ๐๐ ๐ฉ ๐ญ๐ฌ๐ฌ% ๐ข๐ฐ๐ฐ๐๐ฝ๐ถ๐ฒ๐ฑ ๐ฉ $๐ฎ,๐ญ๐ฐ๐ฌ/๐บ๐ผ๐ป๐๐ต ๐๐๐ฟ๐ฟ๐ฒ๐ป๐ ๐ฅ๐ฒ๐ป๐
ARV: $234K (Average Multifamily Sale Price Within 1 Mile)
Actual Rent: $2,140/month
Potential Rent: $2,622/month (Per Rentometer Averages)
Units: 4
Unit Mix: Three 1BR/1 Bath Unit and One 2BR/1 Bath Unit
Current Rents: $430, $430, $580, $700/Unit
Market Rents: $583-$873/Unit
Taxes: $1,398
Building Square Footage: 1,828 Sq Ft
Utilities: Owner pays for all utilities. (One Meter)
Lot Size: 5,888 Sq Ft
Year Built: 1910
Pro Forma CAP: 10% (5% Vacancy, Taxes, Insurance, and 10% Prop Management included in Pro Forma Cap and Actuals)
Management: Currently self-managed, but excellent local property management company ready to step in and manage this one for the next owner.
Due Diligence: While we do our best to get all the relevant information to you, buyers are encouraged to do their own due diligence. (See Important Disclosures Below)
Location:
109 1/2 N Martin St, Muncie, IN 47303
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* The cap rate and cash on cash return calculations found on BiggerPockets Listings are estimated and designed to be used for informational and educational purposes only, and when used alone, do not constitute investment advice. They assume 3 months worth of expenses and estimate taxes and insurance. BiggerPockets recommends that you seek the advice of a real estate professional before making any type of investment. The results presented may not reflect the actual return of your own investments. BiggerPockets is not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools. Furthermore, BiggerPockets is not responsible for any human or mechanical errors or omissions.
** Current rent and projected rent are provided by the lister.
† Rental comps are pulled by looking at property characteristics (beds, baths, structure type), date the rent listing was captured, and proximity to the searched location.
‡ Confidence levels range from low to very high. Confidence is determined by the number of recent and relevant comparable properties for any given search. A very high confidence level indicates a high number of recent and similar rental listings.
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