1300 W University Ave · Muncie, IN 47303

$1

4 bd · 6.0 ba · 20,029 sqft · SingleFamily · 22 Days on market

Built 1914 Good condition 1.46 ac lot

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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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Rent growth +4.5/5.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks

Real Estate Auction of the Local Hazelwood Mansion and Grounds! Originally Built in 1914 this unique 2.5 Story Colonial Revival Style Brick Mansion property includes 1.46 Acres+/- with north of 14,000 SF +/-Total Square Footage Above Grade. It's Perfect for Event Center or Multi-Purpose with its Paved Parking Lot with Plenty of Spaces along with its Fenced in Lot. Recent New Electrical, Plumbing and HVAC Throughout Most of the Home.

Key facts

• Paved parking lot
• Fenced in lot
• 1.46 acre lot

Tags

• COLONIAL REVIVAL STYLE
• PAVED PARKING LOT
• FENCED IN LOT
• EVENT CENTER OR MULTI-PURPOSE

Property features AI

Exterior

• Parking: Off-street parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence, site-built; 2-story home; Zoned R-2 with a variance allowing some commercial use; Lot approximately 1.46 acres (375' x 178')
• Construction: Brick construction
• Exterior features: Wooded lot

Interior

• Bathrooms: 5 full bathrooms; 2 half bathrooms; 3 bathrooms on the main level
• Heating & cooling: Central cooling with multiple units
• Interior features: Single fireplace; Full basement

🔨 Auction listing. The $1 list price is a nominal opening bid, not a real ask — every metric below is computed on the estimated value $1 (ARV from comps), not the list price.

What this means for you Summary

Snapshot

• This is a 4-bed/6.0-bath single-family listed at $1. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $1k ($14k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $1).
• Cap rate 1428994.2% 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: 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: Northside Middle School (math 17% / reading 36%, grade F, #236 of 330 statewide, top 72%, 583 students, 70% FRL) — zoned schools at 70% FRL track the district average.
• Market conditions: Rents rising fast (+7.8%/yr); 112 active listings in the ZIP; 171 units permitted in Delaware County in 2024 (57 in 5+ unit buildings).
• This rent runs 38% of the median local income ($48k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $0 of loan paydown is wiped out by about $0 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 $0 cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 22 days — a 2% lower offer ($0) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $1

Questions for the listing agent

1. Built in 1914 — 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: 150738.00% ✓
• Cap rate: 1428994.24%
• Cash-on-cash: 5103528.38%
• DSCR: 227079.30
• GRM: 0.0

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 7.8% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 298212.49×
• Total profit: $83,499
• Equity at exit: $0

10-year hold

• IRR: —
• Equity multiple: 732342.26×
• Total profit: $205,056
• Equity at exit: $0

Cash invested: $0 (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: 112

Monthly cashflow live

• Estimated rent: $1,507 medium
• Mortgage (P&I): −$0
• Tax est. 1.5%: −$0 /mo · $0/yr
• Insurance: −$0
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $1,191

Break-even live

Break-even rent —

Max offer price $1

Occupancy floor 16%

Sensitivity live

Price	-10% $1,191	-5% $1,191	+0% $1,191	+5% $1,191	+10% $1,191
Rent	-10% $1,072	-5% $1,131	+0% $1,191	+5% $1,250	+10% $1,310
Rate	-1.0pp $1,191	-0.5pp $1,191	base $1,191	+0.5pp $1,191	+1.0pp $1,191

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: $0
• Closing costs: $0
• Reserves months: —
• Total cash needed: —

Listing history 10 events

1. 2026-05-04
   listed $1 Active 437-char remark
2. 2025-07-27
   status Pending
3. 2025-07-26
   historical
4. 2025-07-25
   status Pending
5. 2025-07-10
   status Active
6. 2025-07-10
   status Active
7. 2025-04-10
   status Pending
8. 2025-04-10
   status Pending
9. 2025-02-11
   listed $800,000 Active
10. 2025-02-09
    listed $800,000 Active

ⓘ 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 ≥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: $18,089
• − Mortgage interest: −$0
• − Property taxes: −$0
• − Insurance: −$0
• − Repairs & maintenance: −$1,447
• − Management: −$1,447
• − Depreciation: −$0
• Taxable income: $15,194
• Est. tax owed @ 24.0%: −$3,647
• After-tax cash flow: $10,643/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.

Condition & rehab AI · 15 photos

Good 80/100 Cosmetic rehab

This 2.5-story colonial revival style mansion is in good condition with recent updates to electrical, plumbing, and HVAC. It offers a spacious interior with a well-maintained exterior and ample parking. The home is ready for move-in and can be further enhanced with minor interior updates.

Value-add opportunities

• Both Paint the interior walls and trim — Fresh paint can enhance the home's curb appeal and interior aesthetics.
• Both Clean and maintain the HVAC system — A clean and functioning HVAC system is essential for comfort and energy efficiency.
• Both Inspect and maintain the roof — A well-maintained roof ensures the home's structural integrity and protects the interior from water damage.

Renovation cost estimate screening

Value-add ROI direction

• Both Paint the interior walls and trim — Fresh paint can enhance the home's curb appeal and interior aesthetics. ↑
• Both Clean and maintain the HVAC system — A clean and functioning HVAC system is essential for comfort and energy efficiency. ↑
• Both Inspect and maintain the roof — A well-maintained roof ensures the home's structural integrity and protects the interior from water damage. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

+0.0% since first listed

11 events — show timeline

• 2026-05-26 Pending — IRMLS
• 2026-05-04 Listed $1 IRMLS
• 2025-07-27 Pending — MIBOR as Distributed by MLS Grid
• 2025-07-26 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-07-25 Pending — IRMLS
• 2025-07-10 Relisted — MIBOR as Distributed by MLS Grid
• 2025-07-10 Relisted — IRMLS
• 2025-04-10 Pending — MIBOR as Distributed by MLS Grid
• 2025-04-10 Pending — IRMLS
• 2025-02-11 Listed $800,000 MIBOR as Distributed by MLS Grid
• 2025-02-09 Listed $800,000 IRMLS