1400 W 13th St · Muncie, IN 47302

$109,900

3 bd · 1.5 ba · 1,124 sqft · SingleFamily public records · 8 Days on market

Built 1900 5,000 sqft lot Est $99k · 11% over

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Why this score? — see what drove the D+ 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 +22.0/30.0
• DSCR +7.0/10.0
• 1% rule +4.7/10.0
• Rent growth +4.0/5.0
• Livability +4.0/5.0
• ARV discount +2.5/15.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

NICE & AFFORDABLE! 3 Bedroom 1.5 bath home! If you want a move in ready home or possible investment property, this is the home for you! The spacious layout features 3 nice size bedrooms, a large living room and a sunroom to enjoy, . In the kitchen, you will have plenty of counter space and a gas range. The utility room offers extra storage. A detached garage and corner lot are also great features. There have been several updates in the last 4 years. Central air, updated bathroom and flooring.

Key facts

• Extra storage
• Large living room
• Sunroom

Tags

• MOVE IN READY
• LARGE LIVING ROOM
• SUNROOM
• PLENTY OF COUNTER SPACE
• GAS RANGE
• EXTRA STORAGE

Property features AI

Exterior

• Parking: Garage (approximately 391 sq ft)
• Utilities: Public water; Municipal sewer connected; No solid waste service listed
• Home design: Single family residence; One story
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: Less than 1/4 acre lot (approximately 0.12 acres)

Interior

• Kitchen: Gas oven; Refrigerator
• Bedrooms: 3 bedrooms (all on the main level)
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Eat-in kitchen; Living room; Sun room
• Laundry & utility: Main-level laundry; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $175 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $106k (3.1% below list).
• Recommended offer: $106k (3.1% below list) — sets the bar for 1% rule.
• Cap rate 8.2% 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: 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; 38 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 $760 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 $31k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 3y 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.
• Current owner paid $87k; 26% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $106,495 (3.1% below list)

Questions for the listing agent

1. Built in 1900 — 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. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.97% ✗
• Cap rate: 8.20%
• Cash-on-cash: 6.81%
• DSCR: 1.30
• GRM: 8.6

CMA / ARV

• ARV (on-the-fly): $98,912
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1400 W 13th St	0.00mi	3/1.5	1,124 (0%)	0mo	$104,900	$93	100
2224 S Hoyt Ave	0.18mi	3/1.0	1,152 (+2%)	0mo	$26,500	$23	85
1514 W Memorial Dr	0.15mi	2/1.5 (-1)	1,056 (-6%)	1mo	$85,000	$80	77
1014 W 10th St	0.28mi	2/1.0 (-1)	1,081 (-4%)	6mo	$64,000	$59	68
1437 W 10th St	0.18mi	4/1.0 (+1)	1,240 (+10%)	4mo	$124,900	$101	64
802 W 13th St	0.34mi	2/1.0 (-1)	1,040 (-8%)	2mo	$92,000	$88	62
617 W 15th St	0.48mi	2/1.0 (-1)	1,092 (-3%)	5mo	$108,000	$99	62
1913 W 10th St	0.37mi	2/1.0 (-1)	1,052 (-6%)	4mo	$95,000	$90	61
2233 W 11th St	0.59mi	3/1.5	1,034 (-8%)	4mo	$125,000	$121	56
2025 S Lazy Creek Dr	0.69mi	3/1.0	974 (-13%)	0mo	$81,500	$84	43
1609 S Gharkey St	0.45mi	4/2.0 (+1)	1,288 (+15%)	6mo	$65,000	$50	42
2320 W 10th St	0.68mi	3/1.0	960 (-15%)	3mo	$73,000	$76	40

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: -2.8%
• Equity multiple: 0.89×
• Total profit: $-3,287
• Equity at exit: $16,386

10-year hold

• IRR: 9.8%
• Equity multiple: 1.86×
• Total profit: $26,329
• Equity at exit: $9,502

Cash invested: $30,772 (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: 8.6×

Monthly cashflow live

• Estimated rent: $1,065 high
• Mortgage (P&I): −$576
• Tax from tax record: −$44 /mo · $534/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$224
• Net cashflow: $175

Break-even live

Break-even rent $844

Max offer price $109,900

Occupancy floor 79%

Sensitivity live

Price	-10% $237	-5% $206	+0% $175	+5% $144	+10% $112
Rent	-10% $91	-5% $133	+0% $175	+5% $217	+10% $259
Rate	-1.0pp $230	-0.5pp $203	base $175	+0.5pp $146	+1.0pp $117

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: $27,475
• Closing costs: $3,297
• Reserves months: —
• Total cash needed: —

Rent comps 38 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1704 W 15th St Muncie, IN	3.0	1.0	1026	$1,275	$1.24	45d	1	0.28mi
815 W Memorial Dr Muncie, IN	2.0	1.0	800	$750	$0.94	45d	1	0.30mi
1609 S Gharkey St Muncie, IN	2.0	1.0	744	$750	$1.01	45d	1	0.42mi
509 W 8th St Muncie, IN	3.0	1.0	1008	$1,325	$1.31	45d	1	0.56mi
415 W 9th St Muncie, IN	2.0	1.0	705	$925	$1.31	45d	1	0.59mi
301 W 13th St Muncie, IN	1.0–2.0	1.0	725	$844	$1.16	45d	1	0.63mi
319 W 10th St Muncie, IN	2.0	1.0	869	$885	$1.02	45d	1	0.64mi
206 W 13th St Muncie, IN	2.0	1.0	992	$900	$0.91	45d	1	0.69mi
1001 W 1st St Unit 1 Muncie, IN	3.0	1.5	1098	$875	$0.80	45d	1	0.70mi
1525 S Walnut St Unit 11 Muncie, IN	2.0	1.0	800	$775	$0.97	45d	1	0.79mi
2316 S Walnut St Muncie, IN	3.0	1.0	956	$1,100	$1.15	45d	1	0.84mi
301 E Memorial Dr Muncie, IN	3.0	1.5	1172	$1,099	$0.94	45d	1	0.90mi
2015 W Godman Ave Muncie, IN	2.0	1.0	900	$985	$1.09	45d	7	0.91mi
1721 S Elm St Muncie, IN	2.0	1.0	940	$925	$0.98	45d	1	0.95mi
2800 W Memorial Dr Muncie, IN	3.0	2.0	1216	$1,139	$0.94	45d	1	0.96mi
417 S Council St Muncie, IN	3.0	1.0	1132	$1,025	$0.91	45d	1	0.99mi
1719 W Adams St Muncie, IN	2.0	1.0	1159	$1,000	$0.86	45d	1	1.01mi
309 S McKinley Ave Muncie, IN	2.0	1.0	875	$1,100	$1.26	45d	1	1.02mi
412 W Howard St Muncie, IN	3.0	1.0	1300	$1,000	$0.77	45d	1	1.02mi
1409 W Jackson St Muncie, IN	2.0	1.0	811	$844	$1.04	45d	1	1.03mi
514 W Charles St Muncie, IN	2.0	1.0	1062	$800	$0.75	45d	1	1.04mi
326 W Charles St Muncie, IN	2.0	1.0	836	$1,300	$1.56	45d	1	1.10mi
522 W Adams St Muncie, IN	2.0	1.0	750	$810	$1.08	45d	6	1.10mi
907 W Main St Apt 1 Muncie, IN	2.0	1.0	750	$775	$1.03	45d	1	1.11mi
2105 S Vine St Muncie, IN	3.0	1.0	960	$1,365	$1.42	45d	1	1.14mi
906 W Main St Muncie, IN	1.0–2.0	1.0	712	$995	$1.40	45d	3	1.14mi
106 N McKinley Ave Muncie, IN	2.0	1.0	996	$1,024	$1.03	45d	2	1.18mi
2106 W Main St Muncie, IN	3.0	1.0	1036	$1,209	$1.17	45d	1	1.22mi
216 N McKinley Ave Muncie, IN	1.0–2.0	1.0	679	$825	$1.22	45d	3	1.25mi
400 W Washington St Unit 213 Muncie, IN	2.0	2.0	1009	$1,200	$1.19	45d	1	1.28mi
2302 S Hackley St Muncie, IN	2.0	1.0	870	$1,199	$1.38	45d	1	1.30mi
402 N Calvert St Muncie, IN	2.0	1.0–1.5	720	$899	$1.25	45d	5	1.35mi
1501 W University Ave Muncie, IN	2.0–3.0	1.0	794	$1,125	$1.42	45d	1	1.36mi
2904 S Pershing Dr Muncie, IN	4.0	1.0	1362	$1,425	$1.05	45d	1	1.40mi
519 N Dill St Muncie, IN	1.0–2.0	1.0	900	$1,125	$1.25	45d	7	1.42mi
3106 S Vine St Muncie, IN	3.0	1.0	1080	$1,200	$1.11	45d	1	1.42mi
3013 S Pershing Dr Muncie, IN	3.0	1.0	814	$850	$1.04	45d	1	1.43mi
701 N Dicks St Unit 1&3 Muncie, IN	2.0	1.5	920	$1,580	$1.72	45d	1	1.50mi

Listing history 10 events

1. 2026-05-01
   status Pending 503-char remark

   Show marketing remark (503 chars)

   NICE & AFFORDABLE! 3 Bedroom 1.5 bath home! If you want a move in ready home or possible investment property, this is the home for you! The spacious layout features 3 nice size bedrooms, a large living room and a sunroom to enjoy, . In the kitchen, you will have plenty of counter space and a gas range. The utility room offers extra storage. A detached garage and corner lot are also great features. There have been several updates in the last 4 years. Central air, updated bathroom and flooring.

2. 2026-05-01
   status Pending

   Show marketing remark (503 chars)

   NICE & AFFORDABLE! 3 Bedroom 1.5 bath home! If you want a move in ready home or possible investment property, this is the home for you! The spacious layout features 3 nice size bedrooms, a large living room and a sunroom to enjoy, . In the kitchen, you will have plenty of counter space and a gas range. The utility room offers extra storage. A detached garage and corner lot are also great features. There have been several updates in the last 4 years. Central air, updated bathroom and flooring.

3. 2026-04-22
   listed $109,900 Active 503-char remark

   Show marketing remark (503 chars)

   NICE & AFFORDABLE! 3 Bedroom 1.5 bath home! If you want a move in ready home or possible investment property, this is the home for you! The spacious layout features 3 nice size bedrooms, a large living room and a sunroom to enjoy, . In the kitchen, you will have plenty of counter space and a gas range. The utility room offers extra storage. A detached garage and corner lot are also great features. There have been several updates in the last 4 years. Central air, updated bathroom and flooring.

4. 2026-04-22
   listed $109,900 Active

   Show marketing remark (503 chars)

   NICE & AFFORDABLE! 3 Bedroom 1.5 bath home! If you want a move in ready home or possible investment property, this is the home for you! The spacious layout features 3 nice size bedrooms, a large living room and a sunroom to enjoy, . In the kitchen, you will have plenty of counter space and a gas range. The utility room offers extra storage. A detached garage and corner lot are also great features. There have been several updates in the last 4 years. Central air, updated bathroom and flooring.

5. 2026-04-16
   historical
6. 2026-03-05
   listed $114,000 Active
7. 2026-03-05
   listed $114,000 Active
8. 2023-03-15
   soldstatus $86,900 Closed
9. 2023-02-17
   status Pending
10. 2023-02-16
    listed $86,900 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: $534 · $44/mo
• Projected year-2 tax: $734 · $61/mo
• Expected delta: +$200/yr (+$17/mo · 37.5%)

ⓘ 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 ≥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: $12,779
• − Mortgage interest: −$6,156
• − Property taxes: −$534
• − Insurance: −$550
• − Repairs & maintenance: −$1,022
• − Management: −$1,022
• − Depreciation: −$3,197
• Taxable income: $298
• Est. tax owed @ 24.0%: −$72
• After-tax cash flow: $2,025/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

+26.5% since first listed

10 events — show timeline

• 2026-05-01 Pending — IRMLS
• 2026-05-01 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-22 Listed $109,900 MIBOR as Distributed by MLS Grid
• 2026-04-22 Listed $109,900 IRMLS
• 2026-04-16 Listing Removed — MIBOR as Distributed by MLS Grid
• 2026-03-05 Listed $114,000 IRMLS
• 2026-03-05 Listed $114,000 MIBOR as Distributed by MLS Grid
• 2023-03-15 Sold (MLS) $86,900 IRMLS
• 2023-02-17 Pending — IRMLS
• 2023-02-16 Listed $86,900 IRMLS

Property tax history

-9.0%/yr

Latest (2024): $534 · +9.6% YoY. Source: county tax records.