430 S Proud St · Muncie, IN 47305

$58,900

3 bd · 1.0 ba · 966 sqft · SingleFamily public records · 115 Days on market

Built 1890 3,875 sqft lot $61/sqft · 47% above area Est $48k · 22% over ↓ 53% since listing

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +7.6/10.0
• Livability +4.0/5.0
• Rent growth +3.3/5.0
• Condition / age +2.5/5.0
• Schools +1.7/10.0
• ARV discount +0.0/15.0

Listing remarks MLS

This charming property features 3 beds and 1 bath. It has a covered front porch and a spacious backyard. It also has a washer/dryer hookup and a basement for extra storage. Tenant vacating 2-28-26.

Key facts

• Covered front porch
• Spacious backyard
• Washer dryer hookup

Tags

• COVERED FRONT PORCH
• SPACIOUS BACKYARD
• WASHER DRYER HOOKUP
• BASEMENT FOR EXTRA STORAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $59k.

Deal economics

• At list price, monthly cash flow is $413 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $59k).
• Recommended offer: $54k (9.0% 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: 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 (+3.3%/yr); 26 active listings in the ZIP; 40 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; lower-income renter base — watch delinquency; 171 units permitted in Delaware County in 2024 (57 in 5+ unit buildings).
• This rent runs 33% of the median local income ($36k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• In year one you build about $4k of equity ($407 loan paydown + $3k appreciation (5.3% local appreciation)).
• Delaware County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (5.3% appreciation + 3.3% rent growth), your $16k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$31k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 115 days — a 9% lower offer ($54k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 10y ago; this cycle's ask has dropped $4k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $34k; list at $59k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $53,599 (9.0% below list)

Questions for the listing agent

1. It's been on market 115 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — 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: 1.72% ✓
• Cap rate: 14.70%
• Cash-on-cash: 30.02%
• DSCR: 2.34
• GRM: 4.8

CMA / ARV

• ARV (median comp): $48,341
• List price: $58,900
• Delta: 21.84%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
813 W 5th St	0.38mi	2/1.0 (-1)	952 (-1%)	13mo	$42,650	$45	64
612 W 5th St	0.38mi	2/1.0 (-1)	1,008 (+4%)	17mo	$79,900	$79	56
301 N Light St	0.45mi	2/1.0 (-1)	1,034 (+7%)	8mo	$50,000	$48	56
1501 W 7th St	0.68mi	3/1.0	968 (+0%)	16mo	$100,000	$103	54
1400 W Washington St	0.49mi	2/1.0 (-1)	1,089 (+13%)	0mo	$155,000	$142	51
1605 W Main St	0.58mi	2/1.0 (-1)	864 (-11%)	0mo	$100,000	$116	50
1014 W 10th St	0.69mi	2/1.0 (-1)	1,081 (+12%)	6mo	$64,000	$59	38
1420 S Kinney Ave	0.54mi	2/1.0 (-1)	1,048 (+8%)	22mo	$85,000	$81	37
1712 S Hoyt Ave	0.75mi	2/1.0 (-1)	892 (-8%)	15mo	$90,000	$101	35

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

5.27% appreciation · 3.27% rent growth · sell at horizon

5-year hold

• IRR: 39.9%
• Equity multiple: 3.49×
• Total profit: $41,057
• Equity at exit: $34,364

10-year hold

• IRR: 37.8%
• Equity multiple: 7.16×
• Total profit: $101,542
• Equity at exit: $60,140

Cash invested: $16,492 (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 47305

• Home prices YoY: 2.0%
• Rents YoY: 3.3%
• Active inventory: 26
• Price-to-rent: 4.8×

Monthly cashflow live

• Estimated rent: $1,013 high
• Mortgage (P&I): −$309
• Tax from tax record: −$55 /mo · $656/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $413

Break-even live

Break-even rent $491

Max offer price $58,900

Occupancy floor 54%

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: $14,725
• Closing costs: $1,767
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1001 W 1st St Unit 1 Muncie, IN	3.0	1.5	1098	$875	$0.80	43d	1	0.18mi
514 W Charles St Muncie, IN	2.0	1.0	1062	$800	$0.75	43d	1	0.20mi
522 W Adams St Muncie, IN	2.0	1.0	750	$810	$1.08	43d	6	0.24mi
907 W Main St Apt 1 Muncie, IN	2.0	1.0	750	$775	$1.03	43d	1	0.26mi
906 W Main St Muncie, IN	1.0–2.0	1.0	712	$995	$1.40	43d	3	0.28mi
326 W Charles St Muncie, IN	2.0	1.0	836	$1,300	$1.56	43d	1	0.30mi
400 W Washington St Unit 213 Muncie, IN	2.0	2.0	1009	$1,200	$1.19	43d	1	0.41mi
1409 W Jackson St Muncie, IN	2.0	1.0	811	$844	$1.04	43d	1	0.45mi
509 W 8th St Muncie, IN	3.0	1.0	1008	$1,325	$1.31	43d	1	0.59mi
1609 S Gharkey St Muncie, IN	2.0	1.0	744	$750	$1.01	43d	1	0.63mi
415 W 9th St Muncie, IN	2.0	1.0	705	$925	$1.31	43d	1	0.67mi
309 S McKinley Ave Muncie, IN	2.0	1.0	875	$1,100	$1.26	43d	1	0.69mi
1501 W University Ave Muncie, IN	2.0–3.0	1.0	794	$1,125	$1.42	43d	1	0.69mi
106 N McKinley Ave Muncie, IN	2.0	1.0	996	$1,024	$1.03	43d	2	0.73mi
319 W 10th St Muncie, IN	2.0	1.0	869	$885	$1.02	43d	1	0.74mi
1525 S Walnut St Unit 11 Muncie, IN	2.0	1.0	800	$775	$0.97	43d	1	0.75mi
216 N McKinley Ave Muncie, IN	1.0–2.0	1.0	679	$825	$1.22	43d	3	0.76mi
519 N Dill St Muncie, IN	1.0–2.0	1.0	900	$1,125	$1.25	43d	7	0.78mi
402 N Calvert St Muncie, IN	2.0	1.0–1.5	720	$899	$1.25	43d	5	0.78mi
2015 W Godman Ave Muncie, IN	2.0	1.0	900	$985	$1.09	43d	7	0.79mi
701 N Dicks St Unit 1&3 Muncie, IN	2.0	1.5	920	$1,580	$1.72	43d	1	0.80mi
701 N Dicks St Unit 4 Muncie, IN	2.0	1.5	920	$1,580	$1.72	43d	1	0.81mi
816 N New York Ave Muncie, IN	3.0–4.0	1.0	1200	$1,000	$0.83	43d	10	0.82mi
815 W Memorial Dr Muncie, IN	2.0	1.0	800	$750	$0.94	43d	1	0.82mi
920 N Linden St Muncie, IN	2.0	1.0	745	$925	$1.24	43d	1	0.84mi
1001 W Wayne St Muncie, IN	3.0	2.0	1100	$1,200	$1.09	43d	1	0.84mi
2106 W Main St Muncie, IN	3.0	1.0	1036	$1,209	$1.17	43d	1	0.88mi
206 W 13th St Muncie, IN	2.0	1.0	992	$900	$0.91	43d	1	0.93mi
301 W 13th St Muncie, IN	1.0–2.0	1.0	725	$844	$1.16	43d	1	0.95mi
1721 S Elm St Muncie, IN	2.0	1.0	940	$925	$0.98	43d	1	0.96mi
305 N Pershing Dr Muncie, IN	3.0	1.0	1062	$1,100	$1.04	43d	1	0.96mi
1109 E Kirby Ave Muncie, IN	2.0–3.0	1.0	971	$975	$1.00	43d	2	1.09mi
1704 W 15th St Muncie, IN	3.0	1.0	1026	$1,275	$1.24	43d	1	1.12mi
715 S Cole Ave Muncie, IN	1.0–2.0	1.0	462	$995	$2.15	43d	6	1.18mi
2316 S Walnut St Muncie, IN	3.0	1.0	956	$1,100	$1.15	43d	1	1.21mi
2105 S Vine St Muncie, IN	3.0	1.0	960	$1,365	$1.42	43d	1	1.26mi
1200 W Bethel Ave Muncie, IN	3.0	2.0	1100	$1,300	$1.18	43d	13	1.27mi
1310 E 5th St Muncie, IN	3.0	1.0	864	$1,300	$1.50	43d	1	1.27mi
1521 E Kirby Ave Muncie, IN	2.0–4.0	1.0–2.0	972	$1,150	$1.18	43d	2	1.34mi
720 W Centennial Ave Muncie, IN	2.0–3.0	1.0–2.0	1034	$1,099	$1.06	43d	1	1.37mi

Listing history 37 events

1. 2026-06-19
   days on market $58,900 Active 115 DOM
2. 2026-06-18
   days on market $58,900 Active 114 DOM
3. 2026-06-17
   days on market $58,900 Active 113 DOM
4. 2026-06-16
   days on market $58,900 Active 112 DOM
5. 2026-06-15
   days on market $58,900 Active 111 DOM
6. 2026-06-14
   days on market $58,900 Active 109 DOM
7. 2026-06-13
   days on market $58,900 Active 108 DOM
8. 2026-06-10
   days on market $58,900 Active 106 DOM
9. 2026-06-09
   days on market $58,900 Active 105 DOM
10. 2026-06-08
    days on market $58,900 Active 104 DOM
11. 2026-06-07
    days on market $58,900 Active 103 DOM
12. 2026-06-05
    days on market $58,900 Active 100 DOM
13. 2026-06-03
    days on market $58,900 Active 99 DOM
14. 2026-06-02
    days on market $58,900 Active 98 DOM
15. 2026-06-01
    days on market $58,900 Active 97 DOM
16. 2026-05-31
    days on market $58,900 Active 96 DOM
17. 2026-05-30
    days on market $58,900 Active 95 DOM
18. 2026-04-17
    price $59,900 197-char remark

    Show marketing remark (197 chars)

    This charming property features 3 beds and 1 bath. It has a covered front porch and a spacious backyard. It also has a washer/dryer hookup and a basement for extra storage. Tenant vacating 2-28-26.

19. 2026-04-17
    price $59,900 197-char remark

    Show marketing remark (197 chars)

    This charming property features 3 beds and 1 bath. It has a covered front porch and a spacious backyard. It also has a washer/dryer hookup and a basement for extra storage. Tenant vacating 2-28-26.

20. 2026-03-13
    price $61,495 197-char remark

    Show marketing remark (197 chars)

    This charming property features 3 beds and 1 bath. It has a covered front porch and a spacious backyard. It also has a washer/dryer hookup and a basement for extra storage. Tenant vacating 2-28-26.

21. 2026-03-13
    price $61,495 197-char remark

    Show marketing remark (197 chars)

    This charming property features 3 beds and 1 bath. It has a covered front porch and a spacious backyard. It also has a washer/dryer hookup and a basement for extra storage. Tenant vacating 2-28-26.

22. 2026-02-23
    listed $62,495 Active 197-char remark

    Show marketing remark (197 chars)

    This charming property features 3 beds and 1 bath. It has a covered front porch and a spacious backyard. It also has a washer/dryer hookup and a basement for extra storage. Tenant vacating 2-28-26.

23. 2026-02-23
    listed $62,495 Active 197-char remark

    Show marketing remark (197 chars)

    This charming property features 3 beds and 1 bath. It has a covered front porch and a spacious backyard. It also has a washer/dryer hookup and a basement for extra storage. Tenant vacating 2-28-26.

24. 2025-08-14
    historical
25. 2025-02-03
    price $64,900
26. 2025-02-03
    price $64,900
27. 2024-12-03
    listed $69,900 Active
28. 2024-12-03
    listed $69,900 Active
29. 2022-04-04
    soldstatus $33,500
30. 2022-03-14
    soldstatus $33,500
31. 2021-06-11
    listed $38,900
32. 2021-06-11
    listed $38,900
33. 2019-11-07
    soldstatus $26,900
34. 2019-08-21
    listed $26,900
35. 2018-11-30
    soldstatus $210,000
36. 2017-01-26
    listed $23,300
37. 2016-04-04
    listed $127,900

ⓘ 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: $656 · $55/mo
• Projected year-2 tax: $656 · $55/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 ≥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: $12,161
• − Mortgage interest: −$3,299
• − Property taxes: −$656
• − Insurance: −$294
• − Repairs & maintenance: −$973
• − Management: −$973
• − Depreciation: −$1,713
• Taxable income: $4,252
• Est. tax owed @ 24.0%: −$1,021
• After-tax cash flow: $3,930/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): 3,556
• Household income: $36,389
• Rent vs Own: 64.7% rent · 35.3% own
• Severe rent burden: 336.0

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: Diverse neighborhood (Simpson 0.60)
• Race & ethnicity: White 62% Two or more races 24% Black 8% Hispanic / Latino 7%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Italian 4% Iranian 1% Lithuanian 1%
• Foreign-born: 1%
• Languages at home: 96% English-only · Spanish 2% Arabic 1% Other Asian/Pacific 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: ▲ 5.27%
• Current HPI: 269.888
• Rent YoY: ▲ 3.27%
• 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

-53.2% since first listed

20 events — show timeline

• 2026-04-17 Price Changed $59,900 IRMLS
• 2026-04-17 Price Changed $59,900 MIBOR as Distributed by MLS Grid
• 2026-03-13 Price Changed $61,495 MIBOR as Distributed by MLS Grid
• 2026-03-13 Price Changed $61,495 IRMLS
• 2026-02-23 Listed $62,495 MIBOR as Distributed by MLS Grid
• 2026-02-23 Listed $62,495 IRMLS
• 2025-08-14 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-02-03 Price Changed $64,900 MIBOR as Distributed by MLS Grid
• 2025-02-03 Price Changed $64,900 IRMLS
• 2024-12-03 Listed $69,900 MIBOR as Distributed by MLS Grid
• 2024-12-03 Listed $69,900 IRMLS
• 2022-04-04 Sold (MLS) $33,500 MIBOR as Distributed by MLS Grid
• 2022-03-14 Sold (MLS) $33,500 IRMLS
• 2021-06-11 Listed $38,900 MIBOR as Distributed by MLS Grid
• 2021-06-11 Listed $38,900 IRMLS
• 2019-11-07 Sold (MLS) $26,900 IRMLS
• 2019-08-21 Listed $26,900 IRMLS
• 2018-11-30 Sold (Public Records) $210,000 Public Records
• 2017-01-26 Listed $23,300 IRMLS
• 2016-04-04 Listed $127,900 IRMLS

Property tax history

+0.4%/yr

Latest (2024): $656 · +20.8% YoY. Source: county tax records.