1302 S Hackley St · Muncie, IN 47302

$5,000

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 25 Days on market

Built 1949 0.25 ac lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Here is your opportunity to bid on and buy 2 lots for one money in Muncie, IN. There is a lot of potential here to rent this property out or to renovate and make it your home. 1302 & 1304 S Hackley St. are selling together at online only auction. There is one single family home, one dedicated garage, and one structure with a garage on the first floor and living quarters above.

Key facts

• Single family home
• Dedicated garage
• 0.25 acre lot

Tags

• SINGLE FAMILY HOME
• DEDICATED GARAGE
• GARAGE ON FIRST FLOOR
• LIVING QUARTERS ABOVE

Property features AI

Finance

• Other: GPS-friendly directions
• Financial info: Annual tax amount listed (tax details provided)

Exterior

• Parking: Detached or attached garage not specified, includes 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; One-story
• Construction: Vinyl siding; Built with standard construction (year built not provided)
• Exterior features: Lot dimensions approximately 91 x 122; Lot size about 0.254 acre; Subdivision: Galliher(s)

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Bedrooms included (room-level details not provided)
• Bathrooms: One full bathroom on the main level
• Heating & cooling: No central heating; No cooling
• Interior features: Crawl space basement; Total of 6 rooms
• Laundry & utility: Laundry on the main level

🔨 Auction listing. The $5,000 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $57,871 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $5k.

Deal economics

• At list price, monthly cash flow is $384 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($926 rent vs $5k).
• Recommended offer: $5k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.2% vs local median 6.0% 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: Southside Middle School (math 7% / reading 15%, grade F, #312 of 330 statewide, top 95%, 443 students, 85% FRL) — zoned schools average 85% FRL vs 68% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising fast (+6.1%/yr); 148 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals lingering (median 44d 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 $401 of loan paydown is wiped out by about $2k 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 $16k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($5k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 5.0% of price; built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $4,925 (1.5% below list)

Questions for the listing agent

1. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 1.60% ✓
• Cap rate: 14.25%
• Cash-on-cash: 28.40%
• DSCR: 2.26
• GRM: 5.2

CMA / ARV

• ARV (median comp): $57,871
• List price: $5,000
• Delta: -91.36%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1224 S Beacon St	0.10mi	2/1.0	832 (-4%)	1mo	$73,500	$88	88
1310 E 5th St	0.26mi	2/1.0	864 (0%)	13mo	$22,000	$25	77
1109 E 8th St	0.18mi	2/1.0	844 (-2%)	14mo	$40,000	$47	76
808 E 13th St	0.44mi	2/1.0	897 (+4%)	2mo	$102,500	$114	72
1215 E 14th St	0.57mi	2/1.0	860 (-0%)	6mo	$72,500	$84	67
2006 S Beacon St	0.49mi	2/1.0	900 (+4%)	9mo	$85,000	$94	63
2210 S Penn St	0.66mi	2/1.0	840 (-3%)	6mo	$108,000	$129	60
2116 S Beacon St	0.59mi	2/1.0	832 (-4%)	11mo	$25,000	$30	57
1720 S Jefferson St	0.48mi	2/1.0	936 (+8%)	9mo	$89,900	$96	56
2310 S Hackley St	0.69mi	2/1.0	910 (+5%)	8mo	$60,000	$66	52
2206 S Hackley St	0.62mi	2/1.0	764 (-12%)	9mo	$78,500	$103	44
2017 S Hackley St	0.51mi	2/1.0	744 (-14%)	13mo	$99,000	$133	42

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: 25.9%
• Equity multiple: 2.11×
• Total profit: $18,022
• Equity at exit: $8,629

10-year hold

• IRR: 35.3%
• Equity multiple: 4.71×
• Total profit: $60,152
• Equity at exit: $5,004

Cash invested: $16,204 (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: 148
• Price-to-rent: 0.4×

Monthly cashflow live

• Estimated rent: $926 high
• Mortgage (P&I): −$303
• Tax from tax record: −$21 /mo · $248/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$195
• Net cashflow: $384

Break-even live

Break-even rent $441

Max offer price $57,871

Occupancy floor 54%

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: $14,468
• Closing costs: $1,736
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1307 S Ebright St Unit 2 Muncie, IN	1.0	1.0	630	$695	$1.10	43d	1	0.04mi
1310 E 5th St Muncie, IN	3.0	1.0	864	$1,300	$1.50	43d	1	0.27mi
1109 E Kirby Ave Muncie, IN	2.0–3.0	1.0	971	$835	$0.86	43d	2	0.32mi
1311 E 11th St Unit 2 Muncie, IN	1.0	1.0	672	$715	$1.06	43d	1	0.44mi
1721 S Elm St Muncie, IN	2.0	1.0	940	$925	$0.98	43d	1	0.45mi
1521 E Kirby Ave Muncie, IN	2.0–4.0	1.0–2.0	972	$800	$0.82	43d	2	0.48mi
1525 S Walnut St Unit 11 Muncie, IN	2.0	1.0	800	$775	$0.97	43d	1	0.55mi
2105 S Vine St Muncie, IN	3.0	1.0	960	$1,365	$1.42	43d	1	0.57mi
2302 S Hackley St Muncie, IN	2.0	1.0	870	$1,199	$1.38	43d	1	0.68mi
319 W 10th St Muncie, IN	2.0	1.0	869	$885	$1.02	43d	1	0.70mi
206 W 13th St Muncie, IN	2.0	1.0	992	$900	$0.91	43d	1	0.73mi
415 W 9th St Muncie, IN	2.0	1.0	705	$925	$1.31	43d	1	0.74mi
421 W 9th St Muncie, IN	1.0	1.0	672	$525	$0.78	43d	1	0.75mi
1703 E 14th St Apt 15 Muncie, IN	2.0	1.0	756	$777	$1.03	43d	1	0.77mi
509 W 8th St Muncie, IN	3.0	1.0	1008	$1,325	$1.31	43d	1	0.79mi
301 W 13th St Muncie, IN	1.0–2.0	1.0	725	$844	$1.16	43d	1	0.80mi
305 N Pershing Dr Muncie, IN	3.0	1.0	1062	$1,100	$1.04	43d	1	0.82mi
326 W Charles St Muncie, IN	2.0	1.0	836	$1,300	$1.56	43d	1	0.84mi
2316 S Walnut St Muncie, IN	3.0	1.0	956	$1,100	$1.15	43d	1	0.84mi
514 W Charles St Muncie, IN	2.0	1.0	1062	$800	$0.75	43d	1	0.93mi
1609 S Gharkey St Muncie, IN	2.0	1.0	744	$750	$1.01	43d	1	0.93mi
2213 E Memorial Dr Muncie, IN	2.0	1.0–2.0	997	$1,078	$1.08	43d	1	0.97mi
522 W Adams St Muncie, IN	2.0	1.0	750	$810	$1.08	43d	6	0.97mi
810 W 1st St Muncie, IN	1.0	1.0	980	$599	$0.61	43d	1	0.98mi
400 W Washington St Unit 101 Muncie, IN	1.0	1.0	700	$1,050	$1.50	43d	1	1.00mi
400 W Washington St Unit 213 Muncie, IN	2.0	2.0	1009	$1,200	$1.19	43d	1	1.00mi
1806 E 18th St Muncie, IN	3.0	1.0	865	$1,100	$1.27	43d	1	1.01mi
815 W Memorial Dr Muncie, IN	2.0	1.0	800	$750	$0.94	43d	1	1.05mi
1001 W 1st St Unit 1 Muncie, IN	3.0	1.5	1098	$875	$0.80	43d	1	1.07mi
626 W Main St Muncie, IN	1.0	1.0	738	$715	$0.97	43d	2	1.10mi
1804 S Wall Ave Muncie, IN	2.0	1.0	900	$899	$1.00	43d	1	1.10mi
2815 S Elm St Muncie, IN	2.0	1.0	672	$875	$1.30	43d	1	1.11mi
907 W Main St Apt 1 Muncie, IN	2.0	1.0	750	$775	$1.03	43d	1	1.20mi
3013 S Pershing Dr Muncie, IN	3.0	1.0	814	$850	$1.04	43d	1	1.20mi
906 W Main St Muncie, IN	1.0–2.0	1.0	712	$995	$1.40	43d	3	1.22mi
2808 S Brotherton St Muncie, IN	2.0	1.0	966	$825	$0.85	43d	1	1.24mi
3106 S Vine St Muncie, IN	3.0	1.0	1080	$1,200	$1.11	43d	1	1.25mi
520 N Alameda Ave Unit A Muncie, IN	1.0	1.0	750	$895	$1.19	43d	1	1.27mi
1414 E Highland Ave Muncie, IN	2.0	1.5	1056	$900	$0.85	43d	1	1.40mi
1408 W White River Blvd Muncie, IN	1.0	1.0	610	$938	$1.54	43d	1	1.46mi

Listing history 7 events

1. 2026-06-05
   statusdays on market $5,000 Pending 25 DOM
2. 2026-06-03
   days on market $5,000 Active 24 DOM
3. 2026-06-02
   days on market $5,000 Active 23 DOM
4. 2026-06-01
   days on market $5,000 Active 22 DOM
5. 2026-05-31
   days on market $5,000 Active 21 DOM
6. 2026-05-30
   days on market $5,000 Active 20 DOM
7. 2026-05-10
   listed $5,000 Active 385-char remark

ⓘ 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: $248 · $21/mo
• Projected year-2 tax: $248 · $21/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: $11,116
• − Mortgage interest: −$3,242
• − Property taxes: −$248
• − Insurance: −$289
• − Repairs & maintenance: −$889
• − Management: −$889
• − Depreciation: −$1,684
• Taxable income: $3,875
• Est. tax owed @ 24.0%: −$930
• After-tax cash flow: $3,673/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

2 events — show timeline

• 2026-06-04 Pending — IRMLS
• 2026-05-10 Listed $5,000 IRMLS

Property tax history

-9.9%/yr

Latest (2024): $248 · +3.3% YoY. Source: county tax records.