1215 S Jefferson St · Muncie, IN 47302

$99,900

4 bd · 1.0 ba · 1,404 sqft · SingleFamily public records · 23 Days on market

Built 1908 4,792 sqft lot Est $77k · 29% over

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Why this score? — see what drove the C grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +27.9/30.0
• DSCR +9.9/10.0
• 1% rule +7.4/10.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks

Check out this fully renovated home! Currently rented through October of 2026, for $1000 per month, this would be a great investment to add to your portfolio or would also make a great home! This home features 3 bedrooms and 2 full baths. The main floor is home to the large living room, kitchen, dining room, and one of the full baths. The second floor is home to the 3 bedrooms and other full bath. Outside there is a large privacy fenced yard. This home was completely remodeled top to bottom in 2019/2020. Tenant is currently responsible for all utilities, but owner pays them and tenant reimburses owner. Tenant is current on rent and utilities. Buyer to verify any measurements or informati

Key facts

• Fully renovated
• Completely remodeled
• 4,792 sq ft lot

Tags

• FULLY RENOVATED
• LARGE PRIVACY FENCED YARD
• COMPLETELY REMODELED

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Parking: No designated parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); 2 stories; Above-grade finished living area listed
• Construction: Vinyl siding; Block foundation; Built as site-built construction
• Exterior features: Covered porch; Fenced yard with full privacy vinyl fencing; Shingle roof; Level lot

Interior

• Bedrooms: Total of 6 rooms (bedroom count not specified)
• Flooring: Hardwood; Vinyl
• Bathrooms: 2 full bathrooms; 1 bathroom on the main level
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Hardwood and vinyl flooring; One fireplace (no fireplace features specified); Full, unfinished basement
• Laundry & utility: Laundry located on the main level

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $309 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 10.0% vs local median 5.9% in Muncie — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 80/100 on livability (#18 in IN, #1,654 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, commute A+, cost of living A+; Watch: crime F, employment F.
• Muncie Community Schools (urban): math 18% / reading 25% proficiency, ranked #275 of 301 in IN (top 91%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 68% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: South View Elementary School (math 8% / reading 11%, grade F, #932 of 994 statewide, top 94%, 445 students, 92% FRL); Southside Middle School (math 7% / reading 15%, grade F, #312 of 330 statewide, top 95%, 443 students, 85% FRL); Muncie Central High School (math 20% / reading 39%, 1,326 students, 70% FRL).
• Market conditions: Rents rising fast (+6.1%/yr); 149 active listings in the ZIP; 21 comparable units currently listed for rent nearby; rentals lingering (median 46d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 171 units permitted in Delaware County in 2024 (57 in 5+ unit buildings).
• This rent runs 31% of the median local income ($48k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $691 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Delaware County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 6.1% rent growth), your $28k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 18y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $3k; list at $100k implies a 3230% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,401 (1.5% below list)

Questions for the listing agent

1. Built in 1908 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.24% ✓
• Cap rate: 10.00%
• Cash-on-cash: 13.25%
• DSCR: 1.59
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $77,220
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
124 E 8th St	0.15mi	3/1.0 (-1)	1,456 (+4%)	8mo	$97,150	$67	75
901 E 1st St	0.45mi	3/2.0 (-1)	1,425 (+2%)	5mo	$140,000	$98	63
316 E 8th St	0.15mi	3/1.5 (-1)	1,494 (+6%)	18mo	$82,000	$55	60
700 E 8th St	0.30mi	3/1.5 (-1)	1,343 (-4%)	15mo	$139,000	$103	60
1921 S Hackley St	0.57mi	3/2.0 (-1)	1,372 (-2%)	2mo	$95,000	$69	59
409 S Pershing Dr	0.53mi	3/2.0 (-1)	1,400 (-0%)	12mo	$90,000	$64	56
1609 S Gharkey St	0.56mi	4/2.0	1,288 (-8%)	6mo	$65,000	$50	51
801 E Charles St	0.56mi	3/1.5 (-1)	1,541 (+10%)	8mo	$27,500	$18	44
2117 S Walnut St	0.58mi	4/1.0	1,208 (-14%)	15mo	$15,000	$12	37
518 S Elliott St	0.73mi	3/2.0 (-1)	1,542 (+10%)	5mo	$65,000	$42	37
809 E Main St	0.72mi	3/1.5 (-1)	1,484 (+6%)	18mo	$55,000	$37	35
523 S Proud St	0.69mi	3/2.0 (-1)	1,296 (-8%)	24mo	$12,500	$10	26

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 6.11% rent growth · sell at horizon

5-year hold

• IRR: 6.6%
• Equity multiple: 1.27×
• Total profit: $7,481
• Equity at exit: $14,895

10-year hold

• IRR: 18.5%
• Equity multiple: 2.76×
• Total profit: $49,341
• Equity at exit: $8,638

Cash invested: $27,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Indiana: 90 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

10-day pay-or-quit; landlord-favorable; preempted.

Methodology + full state rankings →

ZIP-level market 47302

• Home prices YoY: -12.6%
• Rents YoY: 6.1%
• Active inventory: 149
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,238 high
• Mortgage (P&I): −$524
• Tax from tax record: −$104 /mo · $1,246/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$260
• Net cashflow: $309

Break-even live

Break-even rent $847

Max offer price $99,900

Occupancy floor 70%

Sensitivity live

Price	-10% $365	-5% $337	+0% $309	+5% $281	+10% $252
Rent	-10% $211	-5% $260	+0% $309	+5% $358	+10% $407
Rate	-1.0pp $359	-0.5pp $334	base $309	+0.5pp $283	+1.0pp $257

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
301 E Memorial Dr Muncie, IN	3.0	1.5	1172	$1,099	$0.94	45d	1	0.41mi
509 W 8th St Muncie, IN	3.0	1.0	1008	$1,325	$1.31	45d	1	0.44mi
623 W 9th St Muncie, IN	3.0	1.0	1574	$1,499	$0.95	45d	1	0.52mi
605 W 10th St Muncie, IN	3.0	1.0	1688	$1,150	$0.68	45d	1	0.52mi
412 W Howard St Muncie, IN	3.0	1.0	1300	$1,000	$0.77	45d	1	0.56mi
1109 E Kirby Ave Muncie, IN	2.0–3.0	1.0	971	$975	$1.00	45d	2	0.58mi
2105 S Vine St Muncie, IN	3.0	1.0	960	$1,365	$1.42	45d	1	0.59mi
417 S Council St Muncie, IN	3.0	1.0	1132	$1,025	$0.91	45d	1	0.64mi
2316 S Walnut St Muncie, IN	3.0	1.0	956	$1,100	$1.15	45d	1	0.70mi
1001 W 1st St Unit 1 Muncie, IN	3.0	1.5	1098	$875	$0.80	45d	1	0.72mi
1521 E Kirby Ave Muncie, IN	2.0–4.0	1.0–2.0	972	$1,500	$1.54	45d	2	0.80mi
305 N Pershing Dr Muncie, IN	3.0	1.0	1062	$1,100	$1.04	45d	1	0.87mi
1802 E Willard St Muncie, IN	3.0	2.5	1224	$1,100	$0.90	45d	1	0.95mi
2904 S Pershing Dr Muncie, IN	4.0	1.0	1362	$1,425	$1.05	45d	1	1.15mi
808 W Beechwood Ave Muncie, IN	4.0	2.0	1261	$900	$0.71	45d	1	1.21mi
1704 W 15th St Muncie, IN	3.0	1.0	1026	$1,275	$1.24	45d	1	1.27mi
3106 S Vine St Muncie, IN	3.0	1.0	1080	$1,200	$1.11	45d	1	1.27mi
312 S Calvert St Muncie, IN	3.0	1.0	1813	$1,500	$0.83	45d	1	1.30mi
1001 W Wayne St Muncie, IN	3.0	2.0	1100	$1,200	$1.09	45d	1	1.44mi
2112 W 11th St Muncie, IN	3.0	2.0	1646	$1,000	$0.61	45d	1	1.45mi
816 N New York Ave Muncie, IN	3.0–4.0	1.0	1200	$1,450	$1.21	45d	10	1.46mi

Listing history 22 events

1. 2026-06-19
   status $99,900 Pending 23 DOM
2. 2026-06-18
   days on market $99,900 Active 23 DOM
3. 2026-06-17
   days on market $99,900 Active 22 DOM
4. 2026-06-16
   days on market $99,900 Active 21 DOM
5. 2026-06-15
   days on market $99,900 Active 20 DOM
6. 2026-06-14
   days on market $99,900 Active 18 DOM
7. 2026-06-13
   days on market $99,900 Active 17 DOM
8. 2026-06-10
   days on market $99,900 Active 15 DOM
9. 2026-06-09
   days on market $99,900 Active 14 DOM
10. 2026-06-08
    days on market $99,900 Active 13 DOM
11. 2026-06-07
    days on market $99,900 Active 12 DOM
12. 2026-06-05
    days on market $99,900 Active 9 DOM
13. 2026-06-03
    days on market $99,900 Active 8 DOM
14. 2026-06-02
    days on market $99,900 Active 7 DOM
15. 2026-06-01
    days on market $99,900 Active 6 DOM
16. 2026-05-31
    days on market $99,900 Active 5 DOM
17. 2026-05-30
    days on market $99,900 Active 4 DOM
18. 2026-05-26
    listed $99,900 Active
19. 2026-05-26
    listed $99,900 Active
20. 2017-10-05
    listed $8,000
21. 2009-05-28
    soldstatus $3,000
22. 2008-09-17
    listed $5,500

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $1,246 · $104/mo
• Projected year-2 tax: $1,246 · $104/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,858
• − Mortgage interest: −$5,596
• − Property taxes: −$1,246
• − Insurance: −$500
• − Repairs & maintenance: −$1,189
• − Management: −$1,189
• − Depreciation: −$2,906
• Taxable income: $2,233
• Est. tax owed @ 24.0%: −$536
• After-tax cash flow: $3,170/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Muncie Community Schools
• NCES district ID: 1807320
• Math proficiency: 18% ▼ -9.00%
• Reading proficiency: 25% ▼ -4.00%
• Median HH income: $30,052
• Composite: 17.22/100
• National rank: #9099
• State rank: #275 of 301 in IN

Livability — Muncie

• Score: 80/100
• State rank: #18
• US rank: #1654

Category grades

Amenities A+ Commute A+ Cost of living A+ Crime F Employment F Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Muncie, IN
• County: Delaware County · 84,658 people
• City population: 84,658
• Metro: Muncie, IN
• Population (ZIP): 25,473
• Household income: $47,837
• Rent vs Own: 35.2% rent · 64.8% own
• Severe rent burden: 1150.0

Population outlook (Delaware County) Hauer SSP2

• Today (2025): 113,036 people
• By 2030: 111,313 · -1.5%
• By 2040: 106,432 · -5.8%
• By 2050: 100,747 · -10.9%
• By 2075: 91,000 · -19.5%
• By 2100: 80,687 · -28.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Two or more races 6% Black 6% Hispanic / Latino 4%
• Common ancestry: Italian 2% Slovak 1% Romanian 1%
• Foreign-born: 1% · Canada
• Languages at home: 98% English-only · Spanish 1% German/W. Germanic 1%

Political lean MEDSL · Delaware

• 2024 margin: R (+15.8) · D 41.2% · R 57.0% · Other 1.8%
• 2008→2024 swing: -30.8pp toward R · 2008: 15.0pp · 2024: -15.8pp
• All cycles: 2024: R+15.8 2020: R+13.2 2016: R+13.7 2012: D+3.1 2008: D+15.0

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -30.32%
• Current HPI: 210.431
• Rent YoY: ▲ 6.11%
• Metro: Muncie, IN
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

Industry mix (Fortune 500 HQ in IN)

Industry	F500 HQs	Revenue
▸Industrial Machinery	2	$37B
▸Healthcare	1	$177B
▸Pharmaceuticals	1	$45B
▸Metals / Steel	1	$18B
▸Agriculture	1	$17B
▸Packaging	1	$12B

Price history

+1716.4% since first listed

5 events — show timeline

• 2026-05-26 Listed $99,900 IRMLS
• 2026-05-26 Listed $99,900 MIBOR as Distributed by MLS Grid
• 2017-10-05 Listed $8,000 IRMLS
• 2009-05-28 Sold (MLS) $3,000 MIBOR as Distributed by MLS Grid
• 2008-09-17 Listed $5,500 MIBOR as Distributed by MLS Grid

Property tax history

+11.8%/yr

Latest (2024): $1,246 · +5.2% YoY. Source: county tax records.