1727 E 24th St · Muncie, IN 47302

$84,000

2 bd · 1.0 ba · 768 sqft · SingleFamily public records · 1 Days on market

Built 1949 6,970 sqft lot Est $85k · 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 +24.0/30.0
• ARV discount +8.2/15.0
• DSCR +7.7/10.0
• 1% rule +6.2/10.0
• 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

Cute house in a great neighborhood! This home has been nicely updated with a new kitchen, updated bathroom, new flooring, and fresh paint. Roof is just 1 year old. There is a large yard with a shed. This is an affordable truly move in ready home!

Key facts

• Updated bath
• Second shed
• New front porch

Tags

• UPDATED KITCHEN
• UPDATED BATH
• NEW FRONT PORCH
• SECOND SHED
• BUNGALOW STYLE RANCH

Property features AI

Exterior

• Parking: Gravel off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); One story; Aluminum siding
• Construction: Asphalt roof; Slab foundation
• Exterior features: Covered porch; Patio/porch; Shed(s) on property; Level lot

Interior

• Kitchen: Microwave; Refrigerator; Electric range
• Bedrooms: Total rooms: 4
• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas forced-air heating; Window air-conditioning unit(s)
• Interior features: Eat-in kitchen; Window treatments; One fireplace (not functional/none specified)
• Laundry & utility: Washer hookup (main level); Electric dryer hookup; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $84k.

Deal economics

• At list price, monthly cash flow is $165 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($943 rent vs $84k).
• Cap rate 8.6% 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: Grissom Elementary School (math 8% / reading 8%, grade F, #949 of 994 statewide, top 97%, 450 students, 85% FRL); Southside Middle School (math 7% / reading 15%, grade F, #312 of 330 statewide, top 95%, 443 students, 85% FRL) — zoned schools average 85% FRL vs 68% district-wide (17 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 9% at this address vs 22% district-wide (-12 pts) — the specific schools serving this property underperform the Muncie Community Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+6.1%/yr); 148 active listings in the ZIP; 19 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 $581 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

• Only 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 4y 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 $64k; 31% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $84,000

Questions for the listing agent

1. Built in 1949 — 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: 1.12% ✓
• Cap rate: 8.65%
• Cash-on-cash: 8.40%
• DSCR: 1.37
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $85,248
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1727 E 24th St	0.00mi	2/1.0	768 (0%)	1mo	$85,000	$111	99
1904 E Greenlawn Ct	0.14mi	2/1.0	768 (0%)	4mo	$103,000	$134	90
1525 E 23rd St	0.16mi	2/1.0	792 (+3%)	8mo	$76,500	$97	80
3404 S Grant St	0.48mi	2/1.0	774 (+1%)	1mo	$80,000	$103	76
1914 E 23rd St	0.13mi	2/1.0	872 (+14%)	0mo	$92,000	$106	71
2806 S Sycamore Ave	0.37mi	2/1.0	816 (+6%)	2mo	$120,000	$147	71
3506 S Penn St	0.50mi	2/1.0	792 (+3%)	1mo	$121,000	$153	70
1400 E 24th St	0.31mi	2/1.0	680 (-12%)	4mo	$18,000	$26	63
2911 S Hackley St	0.61mi	2/1.0	728 (-5%)	5mo	$62,500	$86	59
1806 E 18th St	0.43mi	3/1.0 (+1)	865 (+13%)	6mo	$92,500	$107	48
2210 S Penn St	0.68mi	2/1.0	840 (+9%)	6mo	$108,000	$129	48
2710 S Hackley St	0.62mi	2/1.0	876 (+14%)	2mo	$109,900	$125	46

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: -0.1%
• Equity multiple: 1.00×
• Total profit: $-68
• Equity at exit: $12,525

10-year hold

• IRR: 12.6%
• Equity multiple: 2.14×
• Total profit: $26,815
• Equity at exit: $7,263

Cash invested: $23,520 (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: 7.4×

Monthly cashflow live

• Estimated rent: $943 high
• Mortgage (P&I): −$441
• Tax est. 1.5%: −$105 /mo · $1,260/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$198
• Net cashflow: $165

Break-even live

Break-even rent $735

Max offer price $84,000

Occupancy floor 78%

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: $21,000
• Closing costs: $2,520
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1901 E 26th St Unit 5 Muncie, IN	2.0	1.0	600	$865	$1.44	43d	1	0.19mi
2808 S Brotherton St Muncie, IN	2.0	1.0	966	$825	$0.85	43d	1	0.20mi
1806 E 18th St Muncie, IN	3.0	1.0	865	$1,100	$1.27	43d	1	0.45mi
3013 S Pershing Dr Muncie, IN	3.0	1.0	814	$850	$1.04	43d	1	0.66mi
1703 E 14th St Apt 15 Muncie, IN	2.0	1.0	756	$777	$1.03	43d	1	0.69mi
3106 S Vine St Muncie, IN	3.0	1.0	1080	$1,200	$1.11	43d	1	0.70mi
2302 S Hackley St Muncie, IN	2.0	1.0	870	$1,199	$1.38	43d	1	0.81mi
2213 E Memorial Dr Muncie, IN	2.0	1.0–2.0	997	$1,078	$1.08	43d	1	0.84mi
2815 S Elm St Muncie, IN	2.0	1.0	672	$875	$1.30	43d	1	0.93mi
1311 E 11th St Unit 2 Muncie, IN	1.0	1.0	672	$715	$1.06	43d	1	0.95mi
2105 S Vine St Muncie, IN	3.0	1.0	960	$1,365	$1.42	43d	1	1.00mi
1804 S Wall Ave Muncie, IN	2.0	1.0	900	$899	$1.00	43d	1	1.02mi
2316 S Walnut St Muncie, IN	3.0	1.0	956	$1,100	$1.15	43d	1	1.20mi
1721 S Elm St Muncie, IN	2.0	1.0	940	$925	$0.98	43d	1	1.30mi
1310 E 5th St Muncie, IN	3.0	1.0	864	$1,300	$1.50	43d	1	1.34mi
1307 S Ebright St Unit 2 Muncie, IN	1.0	1.0	630	$695	$1.10	43d	1	1.34mi
3508 E Memorial Dr Muncie, IN	2.0–3.0	1.0–2.0	1029	$429	$0.42	43d	7	1.41mi
206 W 13th St Muncie, IN	2.0	1.0	992	$900	$0.91	43d	1	1.42mi
301 W 13th St Muncie, IN	1.0–2.0	1.0	725	$844	$1.16	43d	1	1.44mi

Listing history 8 events

1. 2026-05-09
   status Pending
2. 2026-05-08
   listed $84,000 Active
3. 2022-12-21
   soldstatus $64,000 Closed 247-char remark

   Show marketing remark (246 chars)

   Cute house in a great neighborhood! This home has been nicely updated with a new kitchen, updated bathroom, new flooring, and fresh paint. Roof is just 1 year old. There is a large yard with a shed. This is an affordable truly move in ready home!

4. 2022-12-21
   soldstatus $64,000 Closed 246-char remark

   Show marketing remark (246 chars)

   Cute house in a great neighborhood! This home has been nicely updated with a new kitchen, updated bathroom, new flooring, and fresh paint. Roof is just 1 year old. There is a large yard with a shed. This is an affordable truly move in ready home!

5. 2022-12-05
   status Pending 246-char remark

   Show marketing remark (247 chars)

   Cute house in a great neighborhood! This home has been nicely updated with a new kitchen, updated bathroom, new flooring, and fresh paint. Roof is just 1 year old. There is a large yard with a shed. This is an affordable truly move in ready home!

6. 2022-12-05
   status Pending 247-char remark

   Show marketing remark (247 chars)

   Cute house in a great neighborhood! This home has been nicely updated with a new kitchen, updated bathroom, new flooring, and fresh paint. Roof is just 1 year old. There is a large yard with a shed. This is an affordable truly move in ready home!

7. 2022-11-14
   listed $69,900 Active 247-char remark

   Show marketing remark (246 chars)

   Cute house in a great neighborhood! This home has been nicely updated with a new kitchen, updated bathroom, new flooring, and fresh paint. Roof is just 1 year old. There is a large yard with a shed. This is an affordable truly move in ready home!

8. 2022-11-14
   listed $69,900 Active 246-char remark

   Show marketing remark (246 chars)

   Cute house in a great neighborhood! This home has been nicely updated with a new kitchen, updated bathroom, new flooring, and fresh paint. Roof is just 1 year old. There is a large yard with a shed. This is an affordable truly move in ready home!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $11,319
• − Mortgage interest: −$4,705
• − Property taxes: −$1,260
• − Insurance: −$420
• − Repairs & maintenance: −$906
• − Management: −$906
• − Depreciation: −$2,444
• Taxable income: $679
• Est. tax owed @ 24.0%: −$163
• After-tax cash flow: $1,813/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

+20.2% since first listed

8 events — show timeline

• 2026-05-09 Pending — IRMLS
• 2026-05-08 Listed $84,000 IRMLS
• 2022-12-21 Sold (MLS) $64,000 MIBOR as Distributed by MLS Grid
• 2022-12-21 Sold (MLS) $64,000 IRMLS
• 2022-12-05 Pending — MIBOR as Distributed by MLS Grid
• 2022-12-05 Pending — IRMLS
• 2022-11-14 Listed $69,900 MIBOR as Distributed by MLS Grid
• 2022-11-14 Listed $69,900 IRMLS

Property tax history

-18.4%/yr

Latest (2024): $140 · -7.6% YoY. Source: county tax records.