2604 E Jackson St · Muncie, IN 47303

$54,900

2 bd · 1.0 ba · 930 sqft · SingleFamily public records · 23 Days on market

Built 1915 0.32 ac lot Est $87k · 37% under

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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 +4.5/5.0
• Livability +4.0/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bedrooms, 1 bath home with extra lot on the East side.

Key facts

• Extra lot
• Income generation
• 0.32 acre lot

Tags

• EXTRA LOT
• INCOME GENERATION

Property features AI

Finance

• Other: Approximately 0.31 acre lot (1/4–1/2 acre)
• HOA & community: Low-maintenance lifestyle

Exterior

• Parking: Gravel parking
• Security: Smoke detector(s)
• Utilities: Public water; Municipal sewer connected; Natural gas connected; 100 amp electric service; Solid waste service available
• Home design: Single family residence; One level; Faces south; Property listed as fixer; Additional parcels included
• Construction: Vinyl siding; Block foundation; Partial basement
• Exterior features: Covered patio; Patio; Small barn; City lot; Busline access

Interior

• Kitchen: Gas cooktop; Gas oven; Refrigerator; Eat-in kitchen layout
• Bedrooms: 2 bedrooms on the main level; Primary bedroom: see remarks
• Bathrooms: 1 full bathroom (main) with tub and separate shower
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Attic access; Eat-in kitchen; Living room (formal)
• Laundry & utility: Laundry in basement; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $55k.

Deal economics

• At list price, monthly cash flow is $384 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($993 rent vs $55k).
• Recommended offer: $54k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.7% 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: Longfellow Elementary School (math 17% / reading 12%, grade F, #862 of 994 statewide, top 88%, 324 students, 86% FRL); Northside Middle School (math 17% / reading 36%, grade F, #236 of 330 statewide, top 72%, 583 students, 70% FRL); Muncie Central High School (math 20% / reading 39%, 1,326 students, 70% FRL).
• Market conditions: Rents rising fast (+7.8%/yr); 115 active listings in the ZIP; 14 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 $380 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 + 7.8% rent growth), your $15k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 23 days — a 2% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $25k; list at $55k implies a 120% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $54,076 (1.5% below list)

Questions for the listing agent

1. Built in 1915 — 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: 1.81% ✓
• Cap rate: 14.68%
• Cash-on-cash: 29.95%
• DSCR: 2.33
• GRM: 4.6

CMA / ARV

• ARV (on-the-fly): $87,420
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
305 N Biltmore Ave	0.28mi	2/1.0	912 (-2%)	2mo	$110,000	$121	82
606 N Biltmore Ave	0.48mi	3/1.0 (+1)	945 (+2%)	1mo	$129,000	$137	69
1103 S Jersey Ave	0.54mi	2/1.0	952 (+2%)	10mo	$69,900	$73	62
3318 E Wysor St	0.55mi	3/1.0 (+1)	928 (-0%)	8mo	$140,000	$151	62
903 S Tennessee Ave	0.42mi	2/1.0	900 (-3%)	16mo	$50,000	$56	61
206 N Waldemere Ave	0.41mi	2/1.0	864 (-7%)	10mo	$32,000	$37	60
1125 S Ribble Ave	0.61mi	2/1.0	945 (+2%)	14mo	$100,000	$106	57
2900 E Gilbert St	0.23mi	3/1.5 (+1)	1,050 (+13%)	8mo	$71,000	$68	55
701 N Claypool Rd	0.60mi	2/1.0	1,032 (+11%)	2mo	$72,500	$70	52
307 N State St	0.69mi	3/1.0 (+1)	960 (+3%)	13mo	$79,900	$83	47
907 S Tennessee Ave	0.45mi	3/1.0 (+1)	1,053 (+13%)	9mo	$106,000	$101	44
1301 S Meeker Ave	0.67mi	2/1.0	848 (-9%)	13mo	$79,900	$94	43

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 · 7.8% rent growth · sell at horizon

5-year hold

• IRR: 30.0%
• Equity multiple: 2.34×
• Total profit: $20,598
• Equity at exit: $8,186

10-year hold

• IRR: 40.0%
• Equity multiple: 5.70×
• Total profit: $72,307
• Equity at exit: $4,747

Cash invested: $15,372 (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 47303

• Home prices YoY: -18.0%
• Rents YoY: 7.8%
• Active inventory: 115
• Price-to-rent: 4.6×

Monthly cashflow live

• Estimated rent: $993 high
• Mortgage (P&I): −$288
• Tax from tax record: −$90 /mo · $1,080/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $384

Break-even live

Break-even rent $507

Max offer price $54,900

Occupancy floor 56%

Sensitivity live

Price	-10% $415	-5% $399	+0% $384	+5% $368	+10% $353
Rent	-10% $305	-5% $344	+0% $384	+5% $423	+10% $462
Rate	-1.0pp $411	-0.5pp $398	base $384	+0.5pp $369	+1.0pp $355

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Rent comps 14 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
305 N Biltmore Ave Muncie, IN	2.0	1.0	912	$1,186	$1.30	45d	1	0.30mi
1521 E Kirby Ave Muncie, IN	2.0–4.0	1.0–2.0	972	$800	$0.82	45d	2	0.75mi
9901 N State St Muncie, IN	3.0	2.0	1136	$1,110	$0.98	45d	5	0.82mi
1804 S Wall Ave Muncie, IN	2.0	1.0	900	$899	$1.00	45d	1	0.96mi
1310 E 5th St Muncie, IN	3.0	1.0	864	$1,300	$1.50	45d	1	0.97mi
1109 E Kirby Ave Muncie, IN	2.0–3.0	1.0	971	$835	$0.86	45d	2	0.99mi
1414 E Highland Ave Muncie, IN	2.0	1.5	1056	$900	$0.85	45d	1	1.06mi
2213 E Memorial Dr Muncie, IN	2.0	1.0–2.0	997	$1,078	$1.08	45d	1	1.09mi
3508 E Memorial Dr Muncie, IN	2.0–3.0	1.0–2.0	1029	$429	$0.42	45d	7	1.13mi
305 N Pershing Dr Muncie, IN	3.0	1.0	1062	$1,100	$1.04	45d	1	1.16mi
1307 S Ebright St Unit 2 Muncie, IN	1.0	1.0	630	$695	$1.10	45d	1	1.21mi
1311 E 11th St Unit 2 Muncie, IN	1.0	1.0	672	$715	$1.06	45d	1	1.26mi
1703 E 14th St Apt 15 Muncie, IN	2.0	1.0	756	$777	$1.03	45d	1	1.29mi
1806 E 18th St Muncie, IN	3.0	1.0	865	$1,100	$1.27	45d	1	1.48mi

Listing history 17 events

1. 2026-06-15
   statusdays on market $54,900 Pending 23 DOM
2. 2026-06-14
   days on market $54,900 Active 22 DOM
3. 2026-06-13
   days on market $54,900 Active 21 DOM
4. 2026-06-10
   days on market $54,900 Active 19 DOM
5. 2026-06-09
   days on market $54,900 Active 18 DOM
6. 2026-06-08
   days on market $54,900 Active 17 DOM
7. 2026-06-07
   days on market $54,900 Active 16 DOM
8. 2026-06-05
   days on market $54,900 Active 13 DOM
9. 2026-06-03
   days on market $54,900 Active 12 DOM
10. 2026-06-02
    days on market $54,900 Active 11 DOM
11. 2026-06-01
    days on market $54,900 Active 10 DOM
12. 2026-05-31
    days on market $54,900 Active 9 DOM
13. 2026-05-30
    days on market $54,900 Active 8 DOM
14. 2026-05-21
    listed $54,900 Active
15. 2024-03-22
    soldstatus $25,000 Closed 56-char remark

    Show marketing remark (56 chars)

    2 bedrooms, 1 bath home with extra lot on the East side.

16. 2024-03-14
    status Pending 56-char remark

    Show marketing remark (56 chars)

    2 bedrooms, 1 bath home with extra lot on the East side.

17. 2024-03-12
    listed $29,900 Active 56-char remark

    Show marketing remark (56 chars)

    2 bedrooms, 1 bath home with extra lot on the East side.

ⓘ 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: $1,080 · $90/mo
• Projected year-2 tax: $1,080 · $90/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 2/10 Low FEMA zone X (unshaded) · 9% 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: $11,916
• − Mortgage interest: −$3,075
• − Property taxes: −$1,080
• − Insurance: −$274
• − Repairs & maintenance: −$953
• − Management: −$953
• − Depreciation: −$1,597
• Taxable income: $3,983
• Est. tax owed @ 24.0%: −$956
• After-tax cash flow: $3,649/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): 24,392
• Household income: $47,674
• Rent vs Own: 43.5% rent · 56.5% own
• Severe rent burden: 1434.0

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 (82%)
• Race & ethnicity: White 82% Black 9% Two or more races 5% Hispanic / Latino 3%
• Common ancestry: Italian 4% Slovak 3% Lithuanian 2%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 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: ▼ -50.45%
• Current HPI: 229.8654
• Rent YoY: ▲ 7.80%
• 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

+83.6% since first listed

4 events — show timeline

• 2026-05-21 Listed $54,900 MIBOR as Distributed by MLS Grid
• 2024-03-22 Sold (MLS) $25,000 IRMLS
• 2024-03-14 Pending — IRMLS
• 2024-03-12 Listed $29,900 IRMLS

Property tax history

+10.7%/yr

Latest (2024): $1,080 · +0.0% YoY. Source: county tax records.