3312 E 16th St · Muncie, IN 47302

$65,000

3 bd · 1.0 ba · 1,092 sqft · SingleFamily public records · 166 Days on market

Built 1935 3,885 sqft lot $60/sqft · 32% below area Est $95k · 32% under

---

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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Recently updated 2–3 bedroom, 1 bathroom home located just minutes from the Muncie Bypass. This property offers recent cosmetic updates throughout and is ideal for an owner-occupant or an investor looking to add to their portfolio. The main bedroom is generously sized and features a walk-in closet. Nice, covered front porch.

Key facts

• Covered front porch
• Walk-in closet
• 3,885 sq ft lot

Tags

• RECENT COSMETIC UPDATES
• WALK-IN CLOSET
• COVERED FRONT PORCH

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $65k.

Deal economics

• At list price, monthly cash flow is $392 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $65k).
• Recommended offer: $57k (12.0% below list) — sets the bar for market timing.
• Cap rate 13.5% 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); Muncie Central High School (math 20% / reading 39%, 1,326 students, 70% FRL).
• Market conditions: Rents rising fast (+6.1%/yr); 149 active listings in the ZIP; 9 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 $449 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 $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 166 days — a 12% lower offer ($57k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 5y ago; this cycle's ask has dropped $5k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $16k; list at $65k implies a 319% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1935 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $57,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 166 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1935 — 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: 1.68% ✓
• Cap rate: 13.52%
• Cash-on-cash: 25.83%
• DSCR: 2.15
• GRM: 5.0

CMA / ARV

• ARV (median comp): $94,893
• List price: $65,000
• Delta: -31.50%
• 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
2204 S Waldemere Ave	0.11mi	2/1.0 (-1)	1,124 (+3%)	6mo	$115,000	$102	80
1919 S Arlington Rd	0.19mi	3/1.0	1,128 (+3%)	8mo	$138,000	$122	79
2115 S Manville Rd	0.18mi	2/1.0 (-1)	1,028 (-6%)	10mo	$149,000	$145	69
1908 S Biltmore Ave	0.28mi	3/1.0	1,200 (+10%)	9mo	$79,000	$66	63
2717 S Meeker Ave	0.68mi	3/1.5	1,062 (-3%)	2mo	$110,000	$104	60
2940 S Chippewa Ln	0.61mi	3/1.0	1,008 (-8%)	0mo	$152,500	$151	59
3414 E 14th St	0.15mi	2/1.0 (-1)	936 (-14%)	8mo	$81,952	$88	58
3124 S Chippewa Ln	0.73mi	3/1.5	1,042 (-5%)	4mo	$117,000	$112	53
2715 S Meeker Ave	0.67mi	3/1.0	992 (-9%)	4mo	$138,900	$140	50
1501 S Biltmore Ave	0.55mi	2/1.0 (-1)	980 (-10%)	8mo	$89,900	$92	46
2702 S Sycamore Ave	0.70mi	3/1.0	1,210 (+11%)	10mo	$146,000	$121	41
2432 E 16th St	0.59mi	2/2.0 (-1)	1,254 (+15%)	10mo	$114,900	$92	31

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: 23.1%
• Equity multiple: 1.99×
• Total profit: $17,976
• Equity at exit: $9,692

10-year hold

• IRR: 33.0%
• Equity multiple: 4.48×
• Total profit: $63,339
• Equity at exit: $5,620

Cash invested: $18,200 (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: 149
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,094 high
• Mortgage (P&I): −$341
• Tax from tax record: −$104 /mo · $1,251/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$230
• Net cashflow: $392

Break-even live

Break-even rent $598

Max offer price $65,000

Occupancy floor 59%

Sensitivity live

Price	-10% $429	-5% $410	+0% $392	+5% $373	+10% $355
Rent	-10% $305	-5% $349	+0% $392	+5% $435	+10% $478
Rate	-1.0pp $424	-0.5pp $408	base $392	+0.5pp $375	+1.0pp $358

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: $16,250
• Closing costs: $1,950
• Reserves months: —
• Total cash needed: —

Rent comps 9 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	$1,091	$1.06	45d	7	0.30mi
1804 S Wall Ave Muncie, IN	2.0	1.0	900	$899	$1.00	45d	1	0.61mi
2213 E Memorial Dr Muncie, IN	2.0	1.0–2.0	997	$1,078	$1.08	45d	1	0.75mi
1806 E 18th St Muncie, IN	3.0	1.0	865	$1,100	$1.27	45d	1	0.97mi
2808 S Brotherton St Muncie, IN	2.0	1.0	966	$825	$0.85	45d	1	1.04mi
1703 E 14th St Apt 15 Muncie, IN	2.0	1.0	756	$777	$1.03	45d	1	1.05mi
1802 E Willard St Muncie, IN	3.0	2.5	1224	$1,100	$0.90	45d	1	1.26mi
305 N Biltmore Ave Muncie, IN	2.0	1.0	912	$1,186	$1.30	45d	1	1.46mi
1310 E 5th St Muncie, IN	3.0	1.0	864	$1,300	$1.50	45d	1	1.49mi

Listing history 8 events

1. 2026-04-09
   status Active 332-char remark

   Show marketing remark (332 chars)

   Recently updated 2–3 bedroom, 1 bathroom home located just minutes from the Muncie Bypass. This property offers recent cosmetic updates throughout and is ideal for an owner-occupant or an investor looking to add to their portfolio. The main bedroom is generously sized and features a walk-in closet. Nice, covered front porch.

2. 2026-03-30
   status Pending 332-char remark

   Show marketing remark (332 chars)

   Recently updated 2–3 bedroom, 1 bathroom home located just minutes from the Muncie Bypass. This property offers recent cosmetic updates throughout and is ideal for an owner-occupant or an investor looking to add to their portfolio. The main bedroom is generously sized and features a walk-in closet. Nice, covered front porch.

3. 2026-03-09
   status Active 332-char remark

   Show marketing remark (332 chars)

   Recently updated 2–3 bedroom, 1 bathroom home located just minutes from the Muncie Bypass. This property offers recent cosmetic updates throughout and is ideal for an owner-occupant or an investor looking to add to their portfolio. The main bedroom is generously sized and features a walk-in closet. Nice, covered front porch.

4. 2026-02-27
   status Pending 332-char remark

   Show marketing remark (332 chars)

   Recently updated 2–3 bedroom, 1 bathroom home located just minutes from the Muncie Bypass. This property offers recent cosmetic updates throughout and is ideal for an owner-occupant or an investor looking to add to their portfolio. The main bedroom is generously sized and features a walk-in closet. Nice, covered front porch.

5. 2026-02-23
   price $65,000 332-char remark

   Show marketing remark (332 chars)

   Recently updated 2–3 bedroom, 1 bathroom home located just minutes from the Muncie Bypass. This property offers recent cosmetic updates throughout and is ideal for an owner-occupant or an investor looking to add to their portfolio. The main bedroom is generously sized and features a walk-in closet. Nice, covered front porch.

6. 2025-11-24
   listed $69,900 Active 332-char remark

   Show marketing remark (332 chars)

   Recently updated 2–3 bedroom, 1 bathroom home located just minutes from the Muncie Bypass. This property offers recent cosmetic updates throughout and is ideal for an owner-occupant or an investor looking to add to their portfolio. The main bedroom is generously sized and features a walk-in closet. Nice, covered front porch.

7. 2021-04-26
   soldstatus $15,500 318-char remark

   Show marketing remark (318 chars)

   View this cute 3 Bedroom 1 Bathroom home with approx. 865 sq. ft. of living space. Home has covered front porch, Living room, eat-in Kitchen with ample cabinet space and laundry. Built in 1935 renovations are needed to make this a perfect starter home or rental property. Possible structural/foundation repairs needed.

8. 2021-03-03
   listed $15,500 318-char remark

   Show marketing remark (318 chars)

   View this cute 3 Bedroom 1 Bathroom home with approx. 865 sq. ft. of living space. Home has covered front porch, Living room, eat-in Kitchen with ample cabinet space and laundry. Built in 1935 renovations are needed to make this a perfect starter home or rental property. Possible structural/foundation repairs needed.

ⓘ 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: $1,251 · $104/mo
• Projected year-2 tax: $1,251 · $104/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: $13,123
• − Mortgage interest: −$3,641
• − Property taxes: −$1,251
• − Insurance: −$325
• − Repairs & maintenance: −$1,050
• − Management: −$1,050
• − Depreciation: −$1,891
• Taxable income: $3,915
• Est. tax owed @ 24.0%: −$940
• After-tax cash flow: $3,761/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

+319.4% since first listed

8 events — show timeline

• 2026-04-09 Relisted — IRMLS
• 2026-03-30 Pending — IRMLS
• 2026-03-09 Relisted — IRMLS
• 2026-02-27 Pending — IRMLS
• 2026-02-23 Price Changed $65,000 IRMLS
• 2025-11-24 Listed $69,900 IRMLS
• 2021-04-26 Sold (MLS) $15,500 IRMLS
• 2021-03-03 Listed $15,500 IRMLS

Property tax history

+0.5%/yr

Latest (2024): $1,251 · +7.7% YoY. Source: county tax records.