908 W 14th St · Muncie, IN 47302

$69,900

2 bd · 1.0 ba · 1,630 sqft · SingleFamily public records · 7 Days on market

Built 1924 4,792 sqft lot $43/sqft · 48% below area Est $67k · at est.

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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
• ARV discount +5.3/15.0
• 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

2-bedroom, 1-bath home in Muncie with all the essentials in a manageable layout. Enjoy relaxing mornings on the covered front porch and a functional open-concept living and kitchen area that creates an inviting flow throughout the home. The open back porch overlooks a fenced backyard, providing great space. Located near everyday amenities, this property offers a practical and welcoming place to call home.

Key facts

• Covered front porch
• Open-concept living
• Fenced backyard

Tags

• COVERED FRONT PORCH
• OPEN-CONCEPT LIVING
• FENCED BACKYARD
• NEAR EVERYDAY AMENITIES

Property features AI

Exterior

• Parking: Concrete parking
• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; One story
• Construction: Vinyl siding
• Exterior features: Wood privacy fencing; Asphalt shingle roof

Interior

• Flooring: Carpet; Vinyl
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central air; Ceiling fans; Natural gas forced air heating; Has heating and cooling
• Interior features: Breakfast bar; Ceiling fans
• Laundry & utility: Electric dryer hookup on main level; Full unfinished basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $70k.

Deal economics

• At list price, monthly cash flow is $433 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $70k).
• Cap rate 13.7% 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: 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.
• Market conditions: Rents rising fast (+6.1%/yr); 148 active listings in the ZIP; 15 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 $483 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 $20k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 7 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 13y 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 $36k; list at $70k implies a 94% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1924 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $69,900

Questions for the listing agent

1. Built in 1924 — 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: 1.61% ✓
• Cap rate: 13.73%
• Cash-on-cash: 26.57%
• DSCR: 2.18
• GRM: 5.2

CMA / ARV

• ARV (median comp): $66,696
• List price: $69,900
• Delta: 4.80%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
605 W 10th St	0.30mi	3/1.0 (+1)	1,688 (+4%)	3mo	$73,500	$44	72
1712 W 15th St	0.52mi	2/1.0	1,663 (+2%)	5mo	$81,000	$49	68
1114 W 17th St	0.20mi	3/1.0 (+1)	1,871 (+15%)	0mo	$75,500	$40	61
2409 S Elliott St	0.21mi	3/2.0 (+1)	1,456 (-11%)	3mo	$120,000	$82	61
2300 S Hoyt Ave	0.32mi	2/1.0	1,848 (+13%)	4mo	$65,000	$35	60
2111 S Mulberry St	0.57mi	3/1.0 (+1)	1,680 (+3%)	8mo	$29,900	$18	57
1438 W 13th St	0.37mi	3/1.5 (+1)	1,462 (-10%)	2mo	$149,900	$103	57
1720 W 7th St	0.68mi	3/1.0 (+1)	1,722 (+6%)	2mo	$6,500	$4	52
2823 S High St	0.73mi	3/1.0 (+1)	1,548 (-5%)	1mo	$18,500	$12	52
1724 S Elm St	0.73mi	2/1.0	1,746 (+7%)	9mo	$67,000	$38	47
124 E 8th St	0.68mi	3/1.0 (+1)	1,456 (-11%)	8mo	$97,150	$67	39
2001 S Jefferson St	0.63mi	3/2.0 (+1)	1,804 (+11%)	8mo	$165,000	$91	38

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: 23.8%
• Equity multiple: 2.02×
• Total profit: $19,896
• Equity at exit: $10,422

10-year hold

• IRR: 33.5%
• Equity multiple: 4.51×
• Total profit: $68,708
• Equity at exit: $6,044

Cash invested: $19,572 (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: 5.2×

Monthly cashflow live

• Estimated rent: $1,123 high
• Mortgage (P&I): −$367
• Tax from tax record: −$58 /mo · $695/yr
• Insurance: −$29
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $433

Break-even live

Break-even rent $574

Max offer price $69,900

Occupancy floor 56%

Sensitivity live

Price	-10% $473	-5% $453	+0% $433	+5% $414	+10% $394
Rent	-10% $345	-5% $389	+0% $433	+5% $478	+10% $522
Rate	-1.0pp $469	-0.5pp $451	base $433	+0.5pp $415	+1.0pp $397

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: $17,475
• Closing costs: $2,097
• Reserves months: —
• Total cash needed: —

Rent comps 15 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
605 W 10th St Muncie, IN	3.0	1.0	1688	$1,150	$0.68	45d	1	0.29mi
623 W 9th St Muncie, IN	3.0	1.0	1574	$1,499	$0.95	45d	1	0.32mi
301 E Memorial Dr Muncie, IN	3.0	1.5	1172	$1,099	$0.94	45d	1	0.64mi
1001 W 1st St Unit 1 Muncie, IN	3.0	1.5	1098	$875	$0.80	45d	1	0.74mi
2112 W 11th St Muncie, IN	3.0	2.0	1646	$1,000	$0.61	45d	1	0.79mi
417 S Council St Muncie, IN	3.0	1.0	1132	$1,025	$0.91	45d	1	0.96mi
412 W Howard St Muncie, IN	3.0	1.0	1300	$1,000	$0.77	45d	1	0.97mi
514 W Charles St Muncie, IN	2.0	1.0	1062	$800	$0.75	45d	1	1.02mi
522 W Adams St Muncie, IN	2.0	1.0	750	$810	$1.08	45d	6	1.08mi
312 S Calvert St Muncie, IN	3.0	1.0	1813	$1,500	$0.83	45d	1	1.16mi
3106 S Vine St Muncie, IN	3.0	1.0	1080	$1,200	$1.11	45d	1	1.17mi
1719 W Adams St Muncie, IN	2.0	1.0	1159	$1,000	$0.86	45d	1	1.18mi
2800 W Memorial Dr Muncie, IN	3.0	2.0	1216	$1,139	$0.94	45d	1	1.23mi
328 S Talley Ave Muncie, IN	2.0	1.0	1770	$1,400	$0.79	45d	1	1.25mi
1109 E Kirby Ave Muncie, IN	2.0–3.0	1.0	971	$835	$0.86	45d	2	1.37mi

Listing history 5 events

1. 2026-05-14
   listed $69,900 Active 408-char remark

   Show marketing remark (408 chars)

   2-bedroom, 1-bath home in Muncie with all the essentials in a manageable layout. Enjoy relaxing mornings on the covered front porch and a functional open-concept living and kitchen area that creates an inviting flow throughout the home. The open back porch overlooks a fenced backyard, providing great space. Located near everyday amenities, this property offers a practical and welcoming place to call home.

2. 2026-05-14
   listed $69,900 Active 408-char remark

   Show marketing remark (408 chars)

   2-bedroom, 1-bath home in Muncie with all the essentials in a manageable layout. Enjoy relaxing mornings on the covered front porch and a functional open-concept living and kitchen area that creates an inviting flow throughout the home. The open back porch overlooks a fenced backyard, providing great space. Located near everyday amenities, this property offers a practical and welcoming place to call home.

3. 2019-05-13
   soldstatus $36,000
4. 2019-03-25
   listed $36,000
5. 2013-09-20
   listed $29,900

ⓘ 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: $695 · $58/mo
• Projected year-2 tax: $695 · $58/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: $13,473
• − Mortgage interest: −$3,915
• − Property taxes: −$695
• − Insurance: −$350
• − Repairs & maintenance: −$1,078
• − Management: −$1,078
• − Depreciation: −$2,033
• Taxable income: $4,324
• Est. tax owed @ 24.0%: −$1,038
• After-tax cash flow: $4,163/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

+133.8% since first listed

7 events — show timeline

• 2026-05-23 Pending — RRELMS
• 2026-05-21 Pending — IRMLS
• 2026-05-14 Listed $69,900 IRMLS
• 2026-05-14 Listed $69,900 RRELMS
• 2019-05-13 Sold (MLS) $36,000 IRMLS
• 2019-03-25 Listed $36,000 IRMLS
• 2013-09-20 Listed $29,900 IRMLS

Property tax history

-6.5%/yr

Latest (2024): $695 · +10.1% YoY. Source: county tax records.