1711 S Burlington Dr · Muncie, IN 47302

$85,000

2 bd · 1.0 ba · 800 sqft · SingleFamily public records · 114 Days on market

Built 1937 0.63 ac lot $106/sqft · 97% above area Est $87k · at est.

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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 +25.2/30.0
• DSCR +8.3/10.0
• ARV discount +8.3/15.0
• 1% rule +6.3/10.0
• 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

Great starter home or rental property! Fenced in yard with a front porch and many new upgrades including a new roof and gutters, flooring, updated kitchen, ring doorbell, new gravel driveway, and more. New Appliances and it even includes a washer and dryer with the home.

Key facts

• New upgrades
• Washer and dryer
• Front porch

Tags

• FENCED IN YARD
• FRONT PORCH
• NEW UPGRADES
• UPDATED KITCHEN
• NEW APPLIANCES
• WASHER AND DRYER

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $191 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($964 rent vs $85k).
• Recommended offer: $77k (9.0% below list) — sets the bar for market timing.
• Cap rate 9.0% 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; 12 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 $588 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 $24k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($77k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask has dropped $14k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $35k; list at $85k implies a 143% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1937 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $77,350 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1937 — 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: 1.13% ✓
• Cap rate: 8.99%
• Cash-on-cash: 9.65%
• DSCR: 1.43
• GRM: 7.3

CMA / ARV

• ARV (median comp): $86,502
• List price: $85,000
• Delta: -1.74%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2209 S Biltmore Ave	0.35mi	2/1.0	816 (+2%)	14mo	$68,316	$84	69
1904 S Rosemont Ave	0.37mi	2/1.0	776 (-3%)	13mo	$80,000	$103	67
1527 S Ribble Ave	0.70mi	2/1.0	800 (0%)	2mo	$72,000	$90	66
2612 E Memorial Dr	0.45mi	2/1.0	852 (+6%)	6mo	$89,000	$104	63
1716 S Jersey Ave	0.43mi	2/1.0	768 (-4%)	16mo	$82,000	$107	60
2014 S Biltmore Ave	0.26mi	2/1.0	720 (-10%)	14mo	$35,500	$49	60
1624 S Jersey Ave	0.43mi	3/1.0 (+1)	780 (-2%)	15mo	$65,000	$83	58
2006 S Manhattan Ave	0.29mi	2/1.0	728 (-9%)	17mo	$75,000	$103	57
2511 E 13th St	0.51mi	3/1.0 (+1)	864 (+8%)	7mo	$70,000	$81	52
1512 S Wall Ave	0.50mi	2/1.0	912 (+14%)	4mo	$62,500	$69	50
1301 S Meeker Ave	0.65mi	2/1.0	848 (+6%)	13mo	$79,900	$94	49
903 S Tennessee Ave	0.67mi	2/1.0	900 (+12%)	16mo	$50,000	$56	34

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: 1.6%
• Equity multiple: 1.06×
• Total profit: $1,527
• Equity at exit: $12,674

10-year hold

• IRR: 14.0%
• Equity multiple: 2.29×
• Total profit: $30,641
• Equity at exit: $7,349

Cash invested: $23,800 (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: 7.3×

Monthly cashflow live

• Estimated rent: $964 high
• Mortgage (P&I): −$446
• Tax from tax record: −$89 /mo · $1,066/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $191

Break-even live

Break-even rent $722

Max offer price $85,000

Occupancy floor 75%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 12 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3508 E Memorial Dr Muncie, IN	2.0–3.0	1.0–2.0	1029	$429	$0.42	43d	7	0.13mi
1804 S Wall Ave Muncie, IN	2.0	1.0	900	$899	$1.00	43d	1	0.49mi
2213 E Memorial Dr Muncie, IN	2.0	1.0–2.0	997	$1,078	$1.08	43d	1	0.69mi
1806 E 18th St Muncie, IN	3.0	1.0	865	$1,100	$1.27	43d	1	1.01mi
1703 E 14th St Apt 15 Muncie, IN	2.0	1.0	756	$777	$1.03	43d	1	1.02mi
2808 S Brotherton St Muncie, IN	2.0	1.0	966	$825	$0.85	43d	1	1.14mi
305 N Biltmore Ave Muncie, IN	2.0	1.0	912	$1,186	$1.30	43d	1	1.18mi
1311 E 11th St Unit 2 Muncie, IN	1.0	1.0	672	$715	$1.06	43d	1	1.27mi
1521 E Kirby Ave Muncie, IN	2.0–4.0	1.0–2.0	972	$800	$0.82	43d	2	1.32mi
1310 E 5th St Muncie, IN	3.0	1.0	864	$1,300	$1.50	43d	1	1.33mi
1901 E 26th St Unit 5 Muncie, IN	2.0	1.0	600	$865	$1.44	43d	1	1.38mi
9901 N State St Muncie, IN	3.0	2.0	1136	$1,110	$0.98	43d	5	1.45mi

Listing history 10 events

1. 2026-06-02
   status $85,000 Pending 114 DOM
2. 2026-06-01
   days on market $85,000 Active 114 DOM
3. 2026-05-31
   days on market $85,000 Active 113 DOM
4. 2026-05-30
   days on market $85,000 Active 112 DOM
5. 2026-04-27
   price $85,000 272-char remark

   Show marketing remark (272 chars)

   Great starter home or rental property! Fenced in yard with a front porch and many new upgrades including a new roof and gutters, flooring, updated kitchen, ring doorbell, new gravel driveway, and more. New Appliances and it even includes a washer and dryer with the home.

6. 2026-03-29
   price $94,000 272-char remark

   Show marketing remark (272 chars)

   Great starter home or rental property! Fenced in yard with a front porch and many new upgrades including a new roof and gutters, flooring, updated kitchen, ring doorbell, new gravel driveway, and more. New Appliances and it even includes a washer and dryer with the home.

7. 2026-02-07
   listed $99,000 Active 272-char remark

   Show marketing remark (272 chars)

   Great starter home or rental property! Fenced in yard with a front porch and many new upgrades including a new roof and gutters, flooring, updated kitchen, ring doorbell, new gravel driveway, and more. New Appliances and it even includes a washer and dryer with the home.

8. 2018-06-14
   soldstatus $35,000
9. 2017-10-31
   listed $32,500
10. 2016-12-02
    listed $29,900

ⓘ 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: $1,066 · $89/mo
• Projected year-2 tax: $1,066 · $89/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 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,565
• − Mortgage interest: −$4,761
• − Property taxes: −$1,066
• − Insurance: −$425
• − Repairs & maintenance: −$925
• − Management: −$925
• − Depreciation: −$2,473
• Taxable income: $989
• Est. tax owed @ 24.0%: −$237
• After-tax cash flow: $2,059/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

+184.3% since first listed

6 events — show timeline

• 2026-04-27 Price Changed $85,000 IRMLS
• 2026-03-29 Price Changed $94,000 IRMLS
• 2026-02-07 Listed $99,000 IRMLS
• 2018-06-14 Sold (MLS) $35,000 IRMLS
• 2017-10-31 Listed $32,500 IRMLS
• 2016-12-02 Listed $29,900 IRMLS

Property tax history

-3.0%/yr

Latest (2024): $1,066 · +92.8% YoY. Source: county tax records.