1222 E 5th St · Muncie, IN 47302

$99,900

3 bd · 1.0 ba · 1,270 sqft · SingleFamily public records · 76 Days on market

Built 1950 6,250 sqft lot $79/sqft · 85% above area

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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 +26.0/30.0
• DSCR +8.8/10.0
• ARV discount +7.5/15.0
• 1% rule +6.1/10.0
• 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 MLS

This home is updated with new windows, flooring, paint, kitchen and bathrooms! It ready for you to move right in.

Key facts

• New kitchen
• New flooring
• New paint

Tags

• NEW WINDOWS
• NEW FLOORING
• NEW PAINT
• NEW KITCHEN
• NEW BATHROOMS

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $249 ($3k/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: $94k (6.0% below list) — sets the bar for market timing.
• Cap rate 9.3% 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: 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 (+6.1%/yr); 148 active listings in the ZIP; 26 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 $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 ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 76 days — a 6% lower offer ($94k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 5y ago; this cycle's ask has dropped $10k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $23k; list at $100k implies a 339% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $93,906 (6.0% below list)

Questions for the listing agent

1. It's been on market 76 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 1.11% ✓
• Cap rate: 9.29%
• Cash-on-cash: 10.70%
• DSCR: 1.48
• GRM: 7.5

CMA / ARV

• ARV (median comp): $53,946
• List price: $99,900
• Delta: 85.19%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1302 E 6th St	0.06mi	3/1.0	1,141 (-10%)	9mo	$70,000	$61	72
526 S Shipley St	0.48mi	3/2.0	1,232 (-3%)	5mo	$35,000	$28	65
1304 S Shipley St	0.36mi	3/1.0	1,136 (-11%)	5mo	$76,280	$67	61
901 E 1st St	0.28mi	3/2.0	1,425 (+12%)	5mo	$140,000	$98	58
1921 S Hackley St	0.55mi	3/2.0	1,372 (+8%)	2mo	$95,000	$69	56
2108 S Grant St	0.61mi	3/1.0	1,400 (+10%)	2mo	$123,000	$88	53
1700 E 13th St	0.58mi	2/1.0 (-1)	1,180 (-7%)	6mo	$50,000	$42	51
721 South Hackley St	0.31mi	2/1.0 (-1)	1,080 (-15%)	7mo	$39,000	$36	49
1101 E Memorial Dr	0.48mi	2/1.0 (-1)	1,085 (-15%)	8mo	$89,900	$83	42
2115 S Ebright St	0.67mi	2/1.0 (-1)	1,440 (+13%)	4mo	$94,000	$65	38
124 E 8th St	0.69mi	3/1.0	1,456 (+15%)	8mo	$97,150	$67	36
2012 S Vine St	0.67mi	3/1.0	1,080 (-15%)	11mo	$50,000	$46	35

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: 2.9%
• Equity multiple: 1.12×
• Total profit: $3,241
• Equity at exit: $14,895

10-year hold

• IRR: 15.1%
• Equity multiple: 2.39×
• Total profit: $38,793
• 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: 148
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,106 high
• Mortgage (P&I): −$524
• Tax from tax record: −$59 /mo · $708/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $249

Break-even live

Break-even rent $791

Max offer price $99,900

Occupancy floor 72%

Sensitivity live

Price	-10% $306	-5% $278	+0% $249	+5% $221	+10% $193
Rent	-10% $162	-5% $206	+0% $249	+5% $293	+10% $337
Rate	-1.0pp $300	-0.5pp $275	base $249	+0.5pp $224	+1.0pp $197

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 26 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1109 E Kirby Ave Muncie, IN	2.0–3.0	1.0	971	$975	$1.00	45d	2	0.24mi
1521 E Kirby Ave Muncie, IN	2.0–4.0	1.0–2.0	972	$1,150	$1.18	45d	2	0.28mi
1802 E Willard St Muncie, IN	3.0	2.5	1224	$1,100	$0.90	45d	1	0.37mi
1721 S Elm St Muncie, IN	2.0	1.0	940	$925	$0.98	45d	1	0.66mi
2105 S Vine St Muncie, IN	3.0	1.0	960	$1,365	$1.42	45d	1	0.71mi
301 E Memorial Dr Muncie, IN	3.0	1.5	1172	$1,099	$0.94	45d	1	0.75mi
305 N Pershing Dr Muncie, IN	3.0	1.0	1062	$1,100	$1.04	45d	1	0.81mi
2213 E Memorial Dr Muncie, IN	2.0	1.0–2.0	997	$1,078	$1.08	45d	1	0.83mi
1804 S Wall Ave Muncie, IN	2.0	1.0	900	$899	$1.00	45d	1	0.93mi
206 W 13th St Muncie, IN	2.0	1.0	992	$900	$0.91	45d	1	0.95mi
412 W Howard St Muncie, IN	3.0	1.0	1300	$1,000	$0.77	45d	1	1.00mi
509 W 8th St Muncie, IN	3.0	1.0	1008	$1,325	$1.31	45d	1	1.02mi
2316 S Walnut St Muncie, IN	3.0	1.0	956	$1,100	$1.15	45d	1	1.03mi
514 W Charles St Muncie, IN	2.0	1.0	1062	$800	$0.75	45d	1	1.08mi
605 W 10th St Muncie, IN	3.0	1.0	1688	$1,150	$0.68	45d	1	1.08mi
623 W 9th St Muncie, IN	3.0	1.0	1574	$1,499	$0.95	45d	1	1.09mi
417 S Council St Muncie, IN	3.0	1.0	1132	$1,025	$0.91	45d	1	1.09mi
400 W Washington St Unit 213 Muncie, IN	2.0	2.0	1009	$1,200	$1.19	45d	1	1.11mi
522 W Adams St Muncie, IN	2.0	1.0	750	$810	$1.08	45d	6	1.11mi
2808 S Brotherton St Muncie, IN	2.0	1.0	966	$825	$0.85	45d	1	1.20mi
2904 S Pershing Dr Muncie, IN	4.0	1.0	1362	$1,425	$1.05	45d	1	1.21mi
1001 W 1st St Unit 1 Muncie, IN	3.0	1.5	1098	$875	$0.80	45d	1	1.27mi
1414 E Highland Ave Muncie, IN	2.0	1.5	1056	$900	$0.85	45d	1	1.30mi
305 N Biltmore Ave Muncie, IN	2.0	1.0	912	$1,186	$1.30	45d	1	1.31mi
3106 S Vine St Muncie, IN	3.0	1.0	1080	$1,200	$1.11	45d	1	1.36mi
906 W Main St Muncie, IN	1.0–2.0	1.0	712	$995	$1.40	45d	3	1.36mi

Listing history 32 events

1. 2026-06-19
   days on market $99,900 Active 76 DOM
2. 2026-06-18
   days on market $99,900 Active 75 DOM
3. 2026-06-17
   days on market $99,900 Active 74 DOM
4. 2026-06-16
   days on market $99,900 Active 73 DOM
5. 2026-06-15
   days on market $99,900 Active 72 DOM
6. 2026-06-14
   days on market $99,900 Active 70 DOM
7. 2026-06-13
   days on market $99,900 Active 69 DOM
8. 2026-06-10
   days on market $99,900 Active 67 DOM
9. 2026-06-09
   days on market $99,900 Active 66 DOM
10. 2026-06-08
    days on market $99,900 Active 65 DOM
11. 2026-06-07
    days on market $99,900 Active 64 DOM
12. 2026-06-05
    days on market $99,900 Active 61 DOM
13. 2026-06-03
    days on market $99,900 Active 60 DOM
14. 2026-06-02
    days on market $99,900 Active 59 DOM
15. 2026-06-01
    days on market $99,900 Active 58 DOM
16. 2026-05-31
    days on market $99,900 Active 57 DOM
17. 2026-05-30
    days on market $99,900 Active 56 DOM
18. 2026-05-06
    status Active 113-char remark

    Show marketing remark (113 chars)

    This home is updated with new windows, flooring, paint, kitchen and bathrooms! It ready for you to move right in.

19. 2026-04-22
    status Pending 113-char remark

    Show marketing remark (113 chars)

    This home is updated with new windows, flooring, paint, kitchen and bathrooms! It ready for you to move right in.

20. 2026-04-07
    price $99,900 113-char remark

    Show marketing remark (113 chars)

    This home is updated with new windows, flooring, paint, kitchen and bathrooms! It ready for you to move right in.

21. 2026-03-21
    listed $109,999 Active 113-char remark

    Show marketing remark (113 chars)

    This home is updated with new windows, flooring, paint, kitchen and bathrooms! It ready for you to move right in.

22. 2022-11-02
    soldstatus $22,750 Closed 236-char remark

    Show marketing remark (236 chars)

    This home features 2 beds and 1 bath and so much potential! On the front of the home is a long 4 seasons front porch and the spacious backyard has a concrete pad for a possible garage. There's also a washer/dryer hookup in the bathroom.

23. 2022-11-02
    soldstatus $22,750 Closed

    Show marketing remark (236 chars)

    This home features 2 beds and 1 bath and so much potential! On the front of the home is a long 4 seasons front porch and the spacious backyard has a concrete pad for a possible garage. There's also a washer/dryer hookup in the bathroom.

24. 2022-11-02
    soldstatus $22,750

    Show marketing remark (236 chars)

    This home features 2 beds and 1 bath and so much potential! On the front of the home is a long 4 seasons front porch and the spacious backyard has a concrete pad for a possible garage. There's also a washer/dryer hookup in the bathroom.

25. 2022-10-19
    status Pending

    Show marketing remark (236 chars)

    This home features 2 beds and 1 bath and so much potential! On the front of the home is a long 4 seasons front porch and the spacious backyard has a concrete pad for a possible garage. There's also a washer/dryer hookup in the bathroom.

26. 2022-10-19
    status Pending 236-char remark

    Show marketing remark (236 chars)

    This home features 2 beds and 1 bath and so much potential! On the front of the home is a long 4 seasons front porch and the spacious backyard has a concrete pad for a possible garage. There's also a washer/dryer hookup in the bathroom.

27. 2022-10-17
    price $26,500 236-char remark

    Show marketing remark (236 chars)

    This home features 2 beds and 1 bath and so much potential! On the front of the home is a long 4 seasons front porch and the spacious backyard has a concrete pad for a possible garage. There's also a washer/dryer hookup in the bathroom.

28. 2022-10-17
    price $26,500

    Show marketing remark (236 chars)

    This home features 2 beds and 1 bath and so much potential! On the front of the home is a long 4 seasons front porch and the spacious backyard has a concrete pad for a possible garage. There's also a washer/dryer hookup in the bathroom.

29. 2022-10-05
    listed $27,500 Active 236-char remark

    Show marketing remark (236 chars)

    This home features 2 beds and 1 bath and so much potential! On the front of the home is a long 4 seasons front porch and the spacious backyard has a concrete pad for a possible garage. There's also a washer/dryer hookup in the bathroom.

30. 2022-10-05
    listed $27,500 Active

    Show marketing remark (236 chars)

    This home features 2 beds and 1 bath and so much potential! On the front of the home is a long 4 seasons front porch and the spacious backyard has a concrete pad for a possible garage. There's also a washer/dryer hookup in the bathroom.

31. 2022-10-05
    listed $26,500

    Show marketing remark (236 chars)

    This home features 2 beds and 1 bath and so much potential! On the front of the home is a long 4 seasons front porch and the spacious backyard has a concrete pad for a possible garage. There's also a washer/dryer hookup in the bathroom.

32. 2021-04-27
    listed $27,500

ⓘ 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: $708 · $59/mo
• Projected year-2 tax: $779 · $65/mo
• Expected delta: +$71/yr (+$6/mo · 10.0%)

ⓘ 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: $13,275
• − Mortgage interest: −$5,596
• − Property taxes: −$708
• − Insurance: −$500
• − Repairs & maintenance: −$1,062
• − Management: −$1,062
• − Depreciation: −$2,906
• Taxable income: $1,441
• Est. tax owed @ 24.0%: −$346
• After-tax cash flow: $2,647/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

+263.3% since first listed

15 events — show timeline

• 2026-05-06 Relisted — MIBOR as Distributed by MLS Grid
• 2026-04-22 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-07 Price Changed $99,900 MIBOR as Distributed by MLS Grid
• 2026-03-21 Listed $109,999 MIBOR as Distributed by MLS Grid
• 2022-11-02 Sold (MLS) $22,750 RRELMS
• 2022-11-02 Sold (MLS) $22,750 MIBOR as Distributed by MLS Grid
• 2022-11-02 Sold (MLS) $22,750 IRMLS
• 2022-10-19 Pending — MIBOR as Distributed by MLS Grid
• 2022-10-19 Pending — IRMLS
• 2022-10-17 Price Changed $26,500 IRMLS
• 2022-10-17 Price Changed $26,500 MIBOR as Distributed by MLS Grid
• 2022-10-05 Listed $26,500 RRELMS
• 2022-10-05 Listed $27,500 MIBOR as Distributed by MLS Grid
• 2022-10-05 Listed $27,500 IRMLS
• 2021-04-27 Listed $27,500 IRMLS

Property tax history

-4.3%/yr

Latest (2024): $708 · +7.4% YoY. Source: county tax records.