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Sold over 1 year ago

$153,000

5+ bd 4+ ba 0 sqft

109 1/2 N Martin St, Muncie, IN 47303

Residential Quadplex Occupied Off MLS

Current Rent **

$2,140

Projected Rent **

$2,622

Estimated Cap Rate *

Pro Only

Estimated Cash on Cash ROI *

Pro Only

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— ๐˜‚๐—ป๐—ฐ๐—ถ๐—ฒ, ๐—œ๐—ก) ๐Ÿšฉ ๐Ÿฐ ๐—จ๐—ป๐—ถ๐˜ ๐—ฃ๐—ฟ๐—ผ๐—ฝ๐—ฒ๐—ฟ๐˜๐˜† ๐Ÿšฉ ๐Ÿญ๐Ÿฌ๐Ÿฌ% ๐—ข๐—ฐ๐—ฐ๐˜‚๐—ฝ๐—ถ๐—ฒ๐—ฑ ๐Ÿšฉ $๐Ÿฎ,๐Ÿญ๐Ÿฐ๐Ÿฌ/๐—บ๐—ผ๐—ป๐˜๐—ต ๐—–๐˜‚๐—ฟ๐—ฟ๐—ฒ๐—ป๐˜ ๐—ฅ๐—ฒ๐—ป๐˜

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.