3416 W Riverside Ave · Muncie, IN 47304

$94,000

2 bd · 1.0 ba · 576 sqft · SingleFamily public records · 3 Days on market

Built 1948 10,080 sqft lot $163/sqft · 31% above area Est $144k · 35% under ↓ 4% since listing

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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 +18.6/30.0
• ARV discount +15.0/15.0
• DSCR +5.8/10.0
• 1% rule +5.4/10.0
• Rent growth +4.5/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

INVESTMENT PROPERTY . This cute little home has a great location on the west side of Muncie, conveniently located near BSU and the Hospital. Flooring is hardwood and vinyl plank in the kitchen. It has 2 bedrooms and the smallest bedroom is used for a child's bedroom currently or would be a nice office. A full basement has a washer and dryer and is perfect for extra storage. There is also a 1 car detached garage and a nice big lot! It is currently leased through July 2027

Key facts

• Hardwood flooring
• Big lot
• Extra storage

Tags

• HARDWOOD FLOORING
• VINYL PLANK FLOORING
• FULL BASEMENT
• EXTRA STORAGE
• DETACHED GARAGE
• BIG LOT

Property features AI

Exterior

• Parking: Detached 1-car garage (approx. 280 sq ft)
• Utilities: Public water; Municipal sewer connected
• Home design: Single-family residence; One-level home
• Construction: Vinyl siding; Block foundation
• Exterior features: Lot under 1/4 acre (approximately 0.23 acre)

Interior

• Kitchen: Eat-in kitchen; Water heater
• Bedrooms: 2 bedrooms on main level (11x10; 9x5)
• Bathrooms: 1 full bathroom on main level
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Eat-in kitchen; Full basement
• Laundry & utility: Basement utility area

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $94k.

Deal economics

• At list price, monthly cash flow is $91 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($978 rent vs $94k).
• Cap rate 7.5% vs local median 6.0% in Muncie — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: schools D+, 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.
• Market conditions: Rents rising fast (+8.1%/yr); 202 active listings in the ZIP; 13 comparable units currently listed for rent nearby; rentals lingering (median 45d 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $650 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 + 8.0% rent growth), your $26k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $94,000

Questions for the listing agent

1. Built in 1948 — 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: 1.04% ✓
• Cap rate: 7.46%
• Cash-on-cash: 4.15%
• DSCR: 1.18
• GRM: 8.0

CMA / ARV

• ARV (median comp): $143,782
• List price: $94,000
• Delta: -34.62%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -4.1%
• Equity multiple: 0.84×
• Total profit: $-4,223
• Equity at exit: $14,016

10-year hold

• IRR: 10.8%
• Equity multiple: 2.04×
• Total profit: $27,469
• Equity at exit: $8,127

Cash invested: $26,320 (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 47304

• Home prices YoY: -28.4%
• Rents YoY: 8.1%
• Active inventory: 202
• Price-to-rent: 8.0×

Monthly cashflow live

• Estimated rent: $978 high
• Mortgage (P&I): −$493
• Tax from tax record: −$150 /mo · $1,796/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$205
• Net cashflow: $91

Break-even live

Break-even rent $863

Max offer price $94,000

Occupancy floor 86%

Sensitivity live

Price	-10% $144	-5% $118	+0% $91	+5% $65	+10% $38
Rent	-10% $14	-5% $52	+0% $91	+5% $130	+10% $168
Rate	-1.0pp $138	-0.5pp $115	base $91	+0.5pp $67	+1.0pp $42

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: $23,500
• Closing costs: $2,820
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1001 N Tillotson Ave Unit 6 Muncie, IN	2.0	1.0	650	$875	$1.35	44d	1	0.38mi
715 S Cole Ave Muncie, IN	1.0–2.0	1.0	462	$995	$2.15	44d	6	0.99mi
715 S Brittain Ave Muncie, IN	1.0	1.0	490	$765	$1.56	44d	2	1.07mi
216 N McKinley Ave Muncie, IN	1.0–2.0	1.0	679	$825	$1.22	44d	3	1.08mi
402 N Calvert St Muncie, IN	2.0	1.0–1.5	720	$899	$1.25	44d	5	1.10mi
405 S Morrison Rd Muncie, IN	1.0–2.0	1.0	800	$1,200	$1.50	44d	1	1.14mi
519 N Dill St Muncie, IN	1.0–2.0	1.0	900	$1,125	$1.25	44d	7	1.18mi
210 N Martin St Muncie, IN	1.0	1.0	640	$742	$1.16	44d	3	1.19mi
2000 N Oakwood Ave Muncie, IN	2.0	1.0	626	$825	$1.32	44d	1	1.20mi
1501 W University Ave Muncie, IN	2.0–3.0	1.0	794	$900	$1.13	44d	1	1.25mi
218 S Martin Ave Unit 2 Muncie, IN	1.0	1.0	516	$695	$1.35	44d	1	1.26mi
1701 N Rosewood Ave Muncie, IN	2.0	1.0	750	$1,405	$1.87	44d	1	1.30mi
1408 W White River Blvd Muncie, IN	1.0	1.0	610	$938	$1.54	44d	1	1.40mi

Listing history 17 events

1. 2026-06-19
   days on market $94,000 Active 3 DOM
2. 2026-06-18
   days on market $94,000 Active 2 DOM
3. 2026-06-17
   remarks 476-char remark
4. 2026-06-17
   days on marketlisting id $94,000 Active 1 DOM
5. 2026-06-05
   days on market $94,000 Active 28 DOM
6. 2026-06-03
   days on market $94,000 Active 27 DOM
7. 2026-06-02
   days on market $94,000 Active 26 DOM
8. 2026-06-01
   days on market $94,000 Active 25 DOM
9. 2026-05-31
   days on market $94,000 Active 24 DOM
10. 2026-05-30
    days on market $94,000 Active 23 DOM
11. 2026-05-07
    listed $94,000 Active 475-char remark
12. 2026-05-07
    listed $94,000 Active 475-char remark
13. 2026-04-22
    historical
14. 2026-03-13
    price $94,000
15. 2026-01-09
    listed $97,500 Active
16. 2026-01-09
    listed $97,500 Active
17. 2026-01-09
    listed $97,500 Active

ⓘ 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: $1,796 · $150/mo
• Projected year-2 tax: $1,796 · $150/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 5/10 Major FEMA zone X (unshaded) · 49% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥100°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% 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: $11,740
• − Mortgage interest: −$5,265
• − Property taxes: −$1,796
• − Insurance: −$470
• − Repairs & maintenance: −$939
• − Management: −$939
• − Depreciation: −$2,735
• Taxable loss: −$404
• Est. tax savings @ 24.0%: +$97
• After-tax cash flow: $1,190/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): 31,237
• Household income: $63,215
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 1141.0

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 (85%)
• Race & ethnicity: White 85% Two or more races 5% Black 4% Asian 4% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 1%
• Foreign-born: 5% · Canada, Vietnam, China
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Vietnamese 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: ▼ -78.53%
• Current HPI: 197.5213
• Rent YoY: ▲ 8.08%
• 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

-3.6% since first listed

10 events — show timeline

• 2026-06-16 Listed $94,000 IRMLS
• 2026-06-16 Listed $94,000 MIBOR as Distributed by MLS Grid
• 2026-06-06 Listing Removed — MIBOR as Distributed by MLS Grid
• 2026-05-07 Listed $94,000 MIBOR as Distributed by MLS Grid
• 2026-05-07 Listed $94,000 IRMLS
• 2026-04-22 Listing Removed — MIBOR as Distributed by MLS Grid
• 2026-03-13 Price Changed $94,000 IRMLS
• 2026-01-09 Listed $97,500 IRMLS
• 2026-01-09 Listed $97,500 IRMLS
• 2026-01-09 Listed $97,500 MIBOR as Distributed by MLS Grid

Property tax history

-3.3%/yr

Latest (2024): $1,796 · +6.5% YoY. Source: county tax records.