1005 W Dunn Ave · Muncie, IN 47303

$139,900

2 bd · 1.0 ba · 1,176 sqft · SingleFamily public records · 17 Days on market

Built 1955 741 sqft lot Est $163k · 14% under

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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).

• ARV discount +14.0/15.0
• Cash flow +10.1/30.0
• Rent growth +4.5/5.0
• Livability +4.0/5.0
• DSCR +2.9/10.0
• Condition / age +2.5/5.0
• 1% rule +2.2/10.0
• Schools +1.7/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

CHARMING & UPDATED!! You will love the appeal and finishes in this adorable 3BR home on the North side of Muncie. The first thing you will notice is the huge covered front porch perfect for relaxation. Upon entering the home you will see a gorgeous brick fireplace in the living room. The kitchen has newer cabinets, counters and stainless appliances. 3 roomy bedrooms, a remodeled bath and nice floorplan are sure to impress! Wonderful neighborhood is tucked away but close to BSU, hospital Farmers Market and Cardinal Greenway. Shopping and dining are just a few blocks away. Recent updates also include newer flooring, roof, doors windows, supply lines and fixtures. New gas furnace installed 2020.

Key facts

• Covered front porch
• Newer cabinets
• Brick fireplace

Tags

• COVERED FRONT PORCH
• BRICK FIREPLACE
• NEWER CABINETS
• UPDATED BATHROOM
• 2 CAR GARAGE
• WOOD BURNING FIREPLACE

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Parking: Detached garage; 2 garage spaces; Garage door opener; Off-street parking; Gravel parking area
• Utilities: Public water; Public sewer; Cable available; Appliances and HVAC are energy-efficient
• Home design: Single-family residence; Site-built home; One story
• Construction: Brick and vinyl siding exterior; Shingle roof; Block foundation; Built as a site-built home
• Exterior features: Covered porch; Porch; Level lot; No fencing

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric range
• Bedrooms: Total rooms: 6
• Flooring: Carpet; Laminate
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Central air conditioning; Natural gas heating; Forced air; Floor furnace
• Interior features: Entrance foyer; Laminate countertops; Wood-burning fireplace in the living room
• Laundry & utility: Washer and dryer included; Gas dryer hookup on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $-82 ($-988/yr) — negative.
• To cash-flow at today's rent, offer at most $125k (10.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $101k (27.6% below list).
• Recommended offer: $101k (27.6% below list) — sets the bar for 1% rule.

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; 29 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 $967 of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 17 days — a 2% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 9 sale attempts since 18y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $118k; 19% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,290 (27.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
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: 0.72% ✗
• Cap rate: 5.59%
• Cash-on-cash: -2.52%
• DSCR: 0.89
• GRM: 11.5

CMA / ARV

• ARV (on-the-fly): $163,464
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3709 N Lanewood Dr	0.47mi	3/1.0 (+1)	1,147 (-2%)	2mo	$169,900	$148	68
3509 N Lanewood Dr	0.36mi	3/1.0 (+1)	1,230 (+5%)	4mo	$180,000	$146	68
207 W Harvard Ave	0.61mi	3/1.0 (+1)	1,152 (-2%)	2mo	$160,600	$139	61
2117 N Maplewood Ave	0.61mi	3/2.0 (+1)	1,188 (+1%)	0mo	$140,000	$118	61
1716 N Ball Ave	0.58mi	2/1.0	1,092 (-7%)	0mo	$137,000	$125	61
1908 W Norwood Dr	0.71mi	3/1.0 (+1)	1,170 (-0%)	0mo	$153,900	$132	60
1107 W Bethel Ave	0.68mi	2/1.0	1,099 (-6%)	1mo	$126,000	$115	57
3507 N Glenwood Ave	0.43mi	3/1.0 (+1)	1,060 (-10%)	2mo	$160,000	$151	56
705 W Harvard Ave	0.38mi	3/1.0 (+1)	1,344 (+14%)	3mo	$166,000	$124	51
4205 N New York Ave	0.75mi	3/1.0 (+1)	1,100 (-6%)	4mo	$159,900	$145	46
800 W Wills Ave	0.70mi	3/2.0 (+1)	1,072 (-9%)	2mo	$118,500	$111	42
202 E Andover Ave	0.68mi	3/1.0 (+1)	1,034 (-12%)	2mo	$146,500	$142	41

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: -15.8%
• Equity multiple: 0.42×
• Total profit: $-22,821
• Equity at exit: $20,860

10-year hold

• IRR: -1.1%
• Equity multiple: 0.91×
• Total profit: $-3,529
• Equity at exit: $12,096

Cash invested: $39,172 (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
• Price-to-rent: 11.5×

Monthly cashflow live

• Estimated rent: $1,013 high
• Mortgage (P&I): −$734
• Tax from tax record: −$91 /mo · $1,087/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $-82

Break-even live

Break-even rent $1,117

Max offer price $125,355

Occupancy floor —

Sensitivity live

Price	-10% $-3	-5% $-43	+0% $-82	+5% $-122	+10% $-162
Rent	-10% $-162	-5% $-122	+0% $-82	+5% $-42	+10% $-2
Rate	-1.0pp $-12	-0.5pp $-47	base $-82	+0.5pp $-119	+1.0pp $-155

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Rent comps 29 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2600 N Wheeling Ave Muncie, IN	2.0–3.0	1.0	1024	$915	$0.89	44d	1	0.19mi
720 W Centennial Ave Muncie, IN	2.0–3.0	1.0–2.0	1034	$799	$0.77	44d	1	0.52mi
1801 N Glenwood Ave Muncie, IN	2.0	1.0	1096	$1,250	$1.14	44d	1	0.60mi
711 W Centennial Ave Muncie, IN	3.0	2.0	1372	$1,200	$0.87	44d	1	0.60mi
1810 W Northfield Dr Muncie, IN	2.0	1.5	1418	$1,300	$0.92	44d	1	0.62mi
1010 W Bethel Ave Muncie, IN	1.0	1.0	700	$874	$1.25	44d	13	0.62mi
1200 W Bethel Ave Muncie, IN	3.0	2.0	1100	$1,300	$1.18	44d	13	0.62mi
111 E Streeter Ave Muncie, IN	2.0–3.0	1.0	816	$799	$0.98	44d	3	0.65mi
1701 N Rosewood Ave Muncie, IN	2.0	1.0	750	$1,405	$1.87	44d	1	0.66mi
222 W Centennial Ave Muncie, IN	2.0	1.5	1042	$925	$0.89	44d	1	0.69mi
151 E Streeter Ave Unit 2 Bedroom Apartment Muncie, IN	2.0	1.0	750	$692	$0.92	44d	1	0.70mi
2000 N Oakwood Ave Muncie, IN	2.0	1.0	626	$825	$1.32	44d	1	0.73mi
3905 N Franklin St Muncie, IN	2.0	1.5	1342	$1,200	$0.89	44d	1	0.75mi
1403 N Linden St Muncie, IN	1.0	1.0	760	$890	$1.17	44d	1	0.76mi
3906 N Franklin St Apt 1 Muncie, IN	2.0	1.0	972	$972	$1.00	44d	1	0.77mi
125 E Oldfield Ln Muncie, IN	1.0–3.0	1.0–2.0	886	$1,112	$1.26	44d	7	0.79mi
3910 N Franklin St Muncie, IN	2.0	1.5	1008	$999	$0.99	44d	2	0.80mi
4000 N Walnut St Muncie, IN	1.0–3.0	1.0	880	$964	$1.10	44d	5	0.86mi
824 W Wayne St Muncie, IN	1.0	1.0	710	$795	$1.12	44d	1	1.01mi
920 N Linden St Muncie, IN	2.0	1.0	745	$925	$1.24	44d	1	1.03mi
1001 W Wayne St Muncie, IN	3.0	2.0	1100	$1,200	$1.09	44d	1	1.03mi
816 N New York Ave Muncie, IN	3.0–4.0	1.0	1200	$1,000	$0.83	44d	10	1.10mi
701 N Dicks St Unit 4 Muncie, IN	2.0	1.5	920	$1,580	$1.72	44d	1	1.23mi
701 N Dicks St Unit 1&3 Muncie, IN	2.0	1.5	920	$1,580	$1.72	44d	1	1.23mi
520 N Alameda Ave Unit A Muncie, IN	1.0	1.0	750	$895	$1.19	44d	1	1.31mi
519 N Dill St Muncie, IN	1.0–2.0	1.0	900	$1,125	$1.25	44d	7	1.33mi
4712 N Sussex Rd Unit 3 Muncie, IN	1.0	1.0	700	$650	$0.93	44d	1	1.34mi
1501 W University Ave Muncie, IN	2.0–3.0	1.0	794	$900	$1.13	44d	1	1.38mi
402 N Calvert St Muncie, IN	2.0	1.0–1.5	720	$899	$1.25	44d	5	1.45mi

Listing history 15 events

1. 2026-06-19
   days on market $139,900 Active 17 DOM
2. 2026-06-18
   days on market $139,900 Active 16 DOM
3. 2026-06-17
   days on market $139,900 Active 15 DOM
4. 2026-06-16
   days on market $139,900 Active 14 DOM
5. 2026-06-15
   price $139,900 Active 13 DOM
6. 2026-06-15
   days on market $149,900 Active 13 DOM
7. 2026-06-14
   days on market $149,900 Active 11 DOM
8. 2026-06-13
   days on market $149,900 Active 10 DOM
9. 2026-06-10
   days on market $149,900 Active 8 DOM
10. 2026-06-09
    days on market $149,900 Active 7 DOM
11. 2026-06-08
    days on market $149,900 Active 6 DOM
12. 2026-06-07
    days on market $149,900 Active 5 DOM
13. 2026-06-05
    days on market $149,900 Active 2 DOM
14. 2026-06-03
    remarks 623-char remark
15. 2026-06-03
    listed $149,900 Active 1 DOM

ⓘ 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: $1,087 · $91/mo
• Projected year-2 tax: $1,138 · $95/mo
• Expected delta: +$51/yr (+$4/mo · 4.7%)

ⓘ 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: $12,155
• − Mortgage interest: −$7,837
• − Property taxes: −$1,087
• − Insurance: −$700
• − Repairs & maintenance: −$972
• − Management: −$972
• − Depreciation: −$4,070
• Taxable loss: −$3,483
• Est. tax savings @ 24.0%: +$836
• After-tax cash flow: $-152/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

+87.6% since first listed

16 events — show timeline

• 2026-06-02 Listed $149,900 IRMLS
• 2021-04-16 Sold (MLS) $118,000 MIBOR as Distributed by MLS Grid
• 2021-04-16 Sold (MLS) $118,000 IRMLS
• 2021-03-12 Listed $118,000 MIBOR as Distributed by MLS Grid
• 2021-03-12 Listed $118,000 IRMLS
• 2018-08-24 Sold (MLS) $82,500 MIBOR as Distributed by MLS Grid
• 2018-08-24 Sold (MLS) $82,500 IRMLS
• 2018-06-19 Listed $84,900 MIBOR as Distributed by MLS Grid
• 2018-06-19 Listed $84,900 IRMLS
• 2017-12-22 Sold (MLS) $26,000 IRMLS
• 2017-12-22 Sold (MLS) $26,000 MIBOR as Distributed by MLS Grid
• 2017-11-28 Listed $34,900 IRMLS
• 2017-11-28 Listed $34,900 MIBOR as Distributed by MLS Grid
• 2017-07-28 Listed $41,400 IRMLS
• 2008-06-15 Listing Removed — MIBOR as Distributed by MLS Grid
• 2008-03-15 Listed $79,900 MIBOR as Distributed by MLS Grid

Property tax history

+4.0%/yr

Latest (2024): $1,087 · +0.0% YoY. Source: county tax records.