1625 N New York Ave · Muncie, IN 47304

$99,900

2 bd · 1.0 ba · 752 sqft · SingleFamily public records · 16 Days on market

Built 1948 6,500 sqft lot $133/sqft · at area comps Est $96k · at est. ↓ 45% 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 +21.2/30.0
• DSCR +6.8/10.0
• 1% rule +5.7/10.0
• ARV discount +5.6/15.0
• 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

Charming and well-maintained investment opportunity at 1625 N. New York Ave. ! This proven rental property has a strong history of consistent income and is currently leased through the end of July. Offering 752 sq. ft. , this home features 2 spacious bedrooms, 1 full bath, and beautiful hardwood floors throughout. All appliances are included—washer and dryer too—making this a truly turnkey property. The home is equipped with a gas furnace and window A/C for year-round comfort. Step outside to enjoy the concrete patio, perfect for relaxing or entertaining. Conveniently located just minutes from Ball State University, this property is ideal for investors or future owner-occupants alike. Available for purchase individually or as part of a package with 1108 W. Weber Dr. , 2117 N. Maplewood Dr. , and 1716 N. Ball Ave. See agent remarks for additional details.

Key facts

• Gas furnace
• New carpet
• Excellent storage

Tags

• INVESTMENT OPPORTUNITY
• SPACIOUS LIVING ROOM
• HARDWOOD FLOORS
• NEW CARPET
• EXCELLENT STORAGE
• GAS FURNACE

Property features AI

Exterior

• Parking: Concrete parking; 1-car garage
• Security: Smoke detector(s)
• Utilities: Public water; Municipal sewer connected; No solid waste service reported
• Home design: Single family residence; One level
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: Patio; No fencing reported; Lot under 1/4 acre (approx. 0.15 acre)

Interior

• Kitchen: Microwave; Range hood; Refrigerator
• Bedrooms: 2 bedrooms (both on main level)
• Flooring: Hardwood
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas); Window air conditioning units
• Interior features: Hardwood floors; Eat-in kitchen; Laundry in unit; Smoke detector(s)
• Laundry & utility: On-site laundry room; Washer; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $144 ($2k/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 8.0% 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 (+8.1%/yr); 202 active listings in the ZIP; 40 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 + 8.0% rent growth), your $28k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 16 days — a 2% lower offer ($98k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 8y 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.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

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

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: 1.07% ✓
• Cap rate: 8.03%
• Cash-on-cash: 6.19%
• DSCR: 1.28
• GRM: 7.8

CMA / ARV

• ARV (median comp): $95,792
• List price: $99,900
• Delta: 4.29%
• 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
1625 N New York Ave	0.00mi	2/1.0	752 (0%)	1mo	$90,000	$120	99
2016 N Ball Ave	0.22mi	2/1.0	720 (-4%)	8mo	$80,000	$111	76
1804 N Rosewood Ave	0.24mi	2/1.0	720 (-4%)	9mo	$85,500	$119	74
1633 N New York Ave	0.02mi	2/1.0	864 (+15%)	1mo	$101,300	$117	73
1801 N New York Ave	0.10mi	3/1.0 (+1)	728 (-3%)	22mo	$115,000	$158	66
3005 N Pauline Ave	0.70mi	2/1.0	780 (+4%)	8mo	$106,000	$136	54
321 W Weber Dr	0.62mi	2/1.0	832 (+11%)	2mo	$108,000	$130	52
2105 N Hollywood Ave	0.45mi	2/1.0	832 (+11%)	17mo	$124,900	$150	47
404 W Centennial Ave	0.57mi	2/1.0	720 (-4%)	24mo	$91,900	$128	46
2216 N Milton St	0.58mi	2/1.0	824 (+10%)	23mo	$92,700	$113	38
3009 N Reserve St	0.75mi	2/1.0	816 (+8%)	21mo	$55,000	$67	34
2100 N Liberty St	0.65mi	2/1.0	864 (+15%)	20mo	$97,000	$112	28

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: -1.2%
• Equity multiple: 0.95×
• Total profit: $-1,318
• Equity at exit: $14,895

10-year hold

• IRR: 13.3%
• Equity multiple: 2.31×
• Total profit: $36,545
• 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 47304

• Home prices YoY: -28.4%
• Rents YoY: 8.1%
• Active inventory: 202
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $1,071 high
• Mortgage (P&I): −$524
• Tax from tax record: −$137 /mo · $1,640/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$225
• Net cashflow: $144

Break-even live

Break-even rent $889

Max offer price $99,900

Occupancy floor 82%

Sensitivity live

Price	-10% $201	-5% $172	+0% $144	+5% $116	+10% $88
Rent	-10% $60	-5% $102	+0% $144	+5% $187	+10% $229
Rate	-1.0pp $195	-0.5pp $170	base $144	+0.5pp $118	+1.0pp $92

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 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1200 W Bethel Ave Muncie, IN	3.0	2.0	1100	$1,300	$1.18	44d	13	0.10mi
1010 W Bethel Ave Muncie, IN	1.0	1.0	700	$874	$1.25	44d	13	0.17mi
1801 N Glenwood Ave Muncie, IN	2.0	1.0	1096	$1,250	$1.14	44d	1	0.22mi
1701 N Rosewood Ave Muncie, IN	2.0	1.0	750	$1,405	$1.87	44d	1	0.27mi
1403 N Linden St Muncie, IN	1.0	1.0	760	$890	$1.17	44d	1	0.29mi
720 W Centennial Ave Muncie, IN	2.0–3.0	1.0–2.0	1034	$799	$0.77	44d	1	0.33mi
2600 N Wheeling Ave Muncie, IN	2.0–3.0	1.0	1024	$915	$0.89	44d	1	0.38mi
2000 N Oakwood Ave Muncie, IN	2.0	1.0	626	$825	$1.32	44d	1	0.46mi
1001 W Wayne St Muncie, IN	3.0	2.0	1100	$1,200	$1.09	44d	1	0.51mi
920 N Linden St Muncie, IN	2.0	1.0	745	$925	$1.24	44d	1	0.53mi
824 W Wayne St Muncie, IN	1.0	1.0	710	$795	$1.12	44d	1	0.53mi
816 N New York Ave Muncie, IN	3.0–4.0	1.0	1200	$1,000	$0.83	44d	10	0.55mi
222 W Centennial Ave Muncie, IN	2.0	1.5	1042	$925	$0.89	44d	1	0.64mi
701 N Dicks St Unit 4 Muncie, IN	2.0	1.5	920	$1,580	$1.72	44d	1	0.66mi
701 N Dicks St Unit 1&3 Muncie, IN	2.0	1.5	920	$1,580	$1.72	44d	1	0.66mi
519 N Dill St Muncie, IN	1.0–2.0	1.0	900	$1,125	$1.25	44d	7	0.76mi
1501 W University Ave Muncie, IN	2.0–3.0	1.0	794	$900	$1.13	44d	1	0.80mi
111 E Streeter Ave Muncie, IN	2.0–3.0	1.0	816	$799	$0.98	44d	3	0.84mi
151 E Streeter Ave Unit 2 Bedroom Apartment Muncie, IN	2.0	1.0	750	$692	$0.92	44d	1	0.85mi
520 N Alameda Ave Unit A Muncie, IN	1.0	1.0	750	$895	$1.19	44d	1	0.87mi
402 N Calvert St Muncie, IN	2.0	1.0–1.5	720	$899	$1.25	44d	5	0.88mi
210 N Martin St Muncie, IN	1.0	1.0	640	$742	$1.16	44d	3	0.97mi
216 N McKinley Ave Muncie, IN	1.0–2.0	1.0	679	$825	$1.22	44d	3	1.00mi
106 N McKinley Ave Muncie, IN	2.0	1.0	996	$1,024	$1.03	44d	2	1.06mi
906 W Main St Muncie, IN	1.0–2.0	1.0	712	$995	$1.40	44d	3	1.07mi
907 W Main St Apt 1 Muncie, IN	2.0	1.0	750	$775	$1.03	44d	1	1.09mi
626 W Main St Muncie, IN	1.0	1.0	738	$715	$0.97	44d	2	1.11mi
1409 W Jackson St Muncie, IN	2.0	1.0	811	$844	$1.04	44d	1	1.12mi
1001 N Tillotson Ave Unit 6 Muncie, IN	2.0	1.0	650	$875	$1.35	44d	1	1.13mi
2106 W Main St Muncie, IN	3.0	1.0	1036	$1,209	$1.17	44d	1	1.15mi
400 W Washington St Unit 101 Muncie, IN	1.0	1.0	700	$1,050	$1.50	44d	1	1.16mi
400 W Washington St Unit 213 Muncie, IN	2.0	2.0	1009	$1,200	$1.19	44d	1	1.16mi
1408 W White River Blvd Muncie, IN	1.0	1.0	610	$938	$1.54	44d	1	1.16mi
309 S McKinley Ave Muncie, IN	2.0	1.0	875	$1,100	$1.26	44d	1	1.24mi
522 W Adams St Muncie, IN	2.0	1.0	750	$810	$1.08	44d	6	1.25mi
125 E Oldfield Ln Muncie, IN	1.0–3.0	1.0–2.0	886	$1,112	$1.26	44d	7	1.28mi
3906 N Franklin St Apt 1 Muncie, IN	2.0	1.0	972	$972	$1.00	44d	1	1.32mi
514 W Charles St Muncie, IN	2.0	1.0	1062	$800	$0.75	44d	1	1.32mi
3910 N Franklin St Muncie, IN	2.0	1.5	1008	$999	$0.99	44d	2	1.35mi
326 W Charles St Muncie, IN	2.0	1.0	836	$1,300	$1.56	44d	1	1.36mi

Listing history 8 events

1. 2026-05-04
   listed $99,900 Active 864-char remark

   Show marketing remark (878 chars)

   Charming and well-maintained investment opportunity at 1625 N. New York Ave. ! This proven rental property has a strong history of consistent income and is currently leased through the end of July. Offering 752 sq. ft. , this home features 2 spacious bedrooms, 1 full bath, and beautiful hardwood floors throughout. All appliances are included—washer and dryer too—making this a truly turnkey property. The home is equipped with a gas furnace and window A/C for year-round comfort. Step outside to enjoy the concrete patio, perfect for relaxing or entertaining. Conveniently located just minutes from Ball State University, this property is ideal for investors or future owner-occupants alike. Available for purchase individually or as part of a package with 1108 W. Weber Dr. , 2117 N. Maplewood Dr. , and 1716 N. Ball Ave. See agent remarks for additional details.

2. 2026-05-04
   listed $99,900 Active 878-char remark

   Show marketing remark (878 chars)

   Charming and well-maintained investment opportunity at 1625 N. New York Ave. ! This proven rental property has a strong history of consistent income and is currently leased through the end of July. Offering 752 sq. ft. , this home features 2 spacious bedrooms, 1 full bath, and beautiful hardwood floors throughout. All appliances are included—washer and dryer too—making this a truly turnkey property. The home is equipped with a gas furnace and window A/C for year-round comfort. Step outside to enjoy the concrete patio, perfect for relaxing or entertaining. Conveniently located just minutes from Ball State University, this property is ideal for investors or future owner-occupants alike. Available for purchase individually or as part of a package with 1108 W. Weber Dr. , 2117 N. Maplewood Dr. , and 1716 N. Ball Ave. See agent remarks for additional details.

3. 2025-12-12
   historical
4. 2025-11-07
   price $125,000
5. 2025-10-24
   listed $125,000 Active
6. 2025-10-24
   listed $570,000 Active
7. 2018-03-23
   soldstatus $165,000
8. 2018-02-12
   listed $165,000

ⓘ 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: $1,640 · $137/mo
• Projected year-2 tax: $1,640 · $137/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 4/10 Moderate FEMA zone X (unshaded) · 22% 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 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: $12,857
• − Mortgage interest: −$5,596
• − Property taxes: −$1,640
• − Insurance: −$500
• − Repairs & maintenance: −$1,029
• − Management: −$1,029
• − Depreciation: −$2,906
• Taxable income: $158
• Est. tax owed @ 24.0%: −$38
• After-tax cash flow: $1,693/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

-45.5% since first listed

12 events — show timeline

• 2026-05-29 Sold (MLS) $90,000 MIBOR as Distributed by MLS Grid
• 2026-05-29 Sold (MLS) $90,000 IRMLS
• 2026-05-21 Pending — IRMLS
• 2026-05-21 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-04 Listed $99,900 MIBOR as Distributed by MLS Grid
• 2026-05-04 Listed $99,900 IRMLS
• 2025-12-12 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-11-07 Price Changed $125,000 MIBOR as Distributed by MLS Grid
• 2025-10-24 Listed $570,000 MIBOR as Distributed by MLS Grid
• 2025-10-24 Listed $125,000 IRMLS
• 2018-03-23 Sold (MLS) $165,000 IRMLS
• 2018-02-12 Listed $165,000 IRMLS

Property tax history

-2.2%/yr

Latest (2024): $1,640 · +16.8% YoY. Source: county tax records.