805 W Harvard Ave · Muncie, IN 47304

$80,000

3 bd · 1.0 ba · 900 sqft · SingleFamily public records · 66 Days on market

Built 1952 Fair condition 8,450 sqft lot Garage $89/sqft · 36% below area Est $126k · 36% 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
• DSCR +10.0/10.0
• 1% rule +9.5/10.0
• Rent growth +4.5/5.0
• Livability +4.0/5.0
• Schools +2.7/10.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Listing remarks

Bring your vision to this diamond in the rough! This property offers a fantastic head start with a new roof (only 1.5 years old), providing peace of mind while you customize the rest. The home is situated near local restaurants and a neighborhood elementary school, offering easy access to the best of the community. Whether you are looking for your next renovation project or a chance to build equity in a prime location, this fixer-upper is ready for its next chapter. Sold as-is.

Key facts

• Local restaurants
• Prime location
• New roof

Tags

• NEW ROOF
• LOCAL RESTAURANTS
• NEIGHBORHOOD ELEMENTARY SCHOOL
• PRIME LOCATION

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $383 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 12.0% vs local median 5.8% 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: North View Elementary School (math 27% / reading 27%, grade F, #737 of 994 statewide, top 76%, 371 students, 69% 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) — zoned schools at 70% FRL track the district average.
• Market conditions: Rents rising fast (+8.1%/yr); 302 active listings in the ZIP; 17 comparable units currently listed for rent nearby; rentals lingering (median 93d 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 $553 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 + 8.0% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 66 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 2 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 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 66 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1952 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.45% ✓
• Cap rate: 12.03%
• Cash-on-cash: 20.50%
• DSCR: 1.91
• GRM: 5.8

CMA / ARV

• ARV (median comp): $125,550
• List price: $80,000
• Delta: -36.28%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3312 N Linden St	0.16mi	2/1.0 (-1)	932 (+4%)	2mo	$155,000	$166	80
1513 W Stirling Dr	0.57mi	2/1.0 (-1)	912 (+1%)	1mo	$155,000	$170	65
3310 N Cowing Park Ln	0.15mi	3/1.0	1,005 (+12%)	14mo	$119,900	$119	62
2409 N Janney Ave	0.66mi	2/1.0 (-1)	898 (-0%)	5mo	$150,000	$167	60
1513 W Stirling Dr	0.57mi	2/1.0 (-1)	912 (+1%)	9mo	$142,000	$156	58
2905 N Rosewood Ave	0.63mi	2/1.0 (-1)	900 (0%)	9mo	$115,000	$128	58
1612 W Stirling Dr	0.60mi	2/1.0 (-1)	912 (+1%)	14mo	$90,000	$99	53
3005 N Pauline Ave	0.30mi	2/1.0 (-1)	780 (-13%)	10mo	$106,000	$136	51
3001 N Pauline Ave	0.30mi	3/2.0	1,018 (+13%)	11mo	$124,900	$123	50
3001 N Pauline Ave	0.30mi	3/2.0	1,018 (+13%)	11mo	$124,900	$123	50
413 W Harvard Ave	0.23mi	2/1.0 (-1)	776 (-14%)	13mo	$95,000	$122	50
202 E Andover Ave	0.56mi	3/1.0	1,034 (+15%)	4mo	$146,500	$142	46

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 · 8.0% rent growth · sell at horizon

5-year hold

• IRR: 18.2%
• Equity multiple: 1.78×
• Total profit: $17,530
• Equity at exit: $11,928

10-year hold

• IRR: 29.9%
• Equity multiple: 4.33×
• Total profit: $74,513
• Equity at exit: $6,917

Cash invested: $22,400 (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 →

Seller's market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 5 active · 11 under contract
• Months of supply: 2.1 mo (47%/mo absorbed)
• Median asking: $130,000 ($135/sqft)
• Median days on market: 60 d
• This list price: lowest-priced of the active set
• ARV vs active asking: +3.0% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 47304

• Home prices YoY: -28.4%
• Rents YoY: 8.1%
• Active inventory: 302
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,158 high
• Mortgage (P&I): −$420
• Tax from tax record: −$79 /mo · $950/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $383

Break-even live

Break-even rent $673

Max offer price $80,000

Occupancy floor 62%

Sensitivity live

Price	-10% $428	-5% $405	+0% $383	+5% $360	+10% $337
Rent	-10% $291	-5% $337	+0% $383	+5% $428	+10% $474
Rate	-1.0pp $423	-0.5pp $403	base $383	+0.5pp $362	+1.0pp $341

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: $20,000
• Closing costs: $2,400
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 17 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3906 N Franklin St Apt 1 Muncie, IN	2.0	1.0	972	$972	$1.00	93d	1	0.46mi
3910 N Franklin St Muncie, IN	2.0	1.5	1008	$999	$0.99	93d	2	0.48mi
2600 N Wheeling Ave Muncie, IN	2.0–3.0	1.0	1024	$1,035	$1.01	93d	1	0.55mi
125 E Oldfield Ln Muncie, IN	1.0–3.0	1.0–2.0	886	$1,325	$1.50	93d	7	0.56mi
4000 N Walnut St Muncie, IN	1.0–3.0	1.0	880	$1,060	$1.20	93d	5	0.57mi
111 E Streeter Ave Muncie, IN	2.0–3.0	1.0	816	$999	$1.22	93d	3	0.76mi
151 E Streeter Ave Unit 2 Bedroom Apartment Muncie, IN	2.0	1.0	750	$692	$0.92	93d	1	0.82mi
720 W Centennial Ave Muncie, IN	2.0–3.0	1.0–2.0	1034	$1,099	$1.06	93d	1	0.84mi
222 W Centennial Ave Muncie, IN	2.0	1.5	1042	$925	$0.89	93d	1	0.92mi
1801 N Glenwood Ave Muncie, IN	2.0	1.0	1096	$1,250	$1.14	93d	1	0.94mi
1200 W Bethel Ave Muncie, IN	3.0	2.0	1100	$1,300	$1.18	93d	13	0.98mi
1701 N Rosewood Ave Muncie, IN	2.0	1.0	750	$1,405	$1.87	93d	1	1.00mi
2000 N Oakwood Ave Muncie, IN	2.0	1.0	626	$825	$1.32	93d	1	1.04mi
2010 W Enterprise Ave Unit 2014 Muncie, IN	2.0	1.0	864	$800	$0.93	93d	1	1.33mi
920 N Linden St Muncie, IN	2.0	1.0	745	$925	$1.24	93d	1	1.37mi
1001 W Wayne St Muncie, IN	3.0	2.0	1100	$1,200	$1.09	93d	1	1.38mi
816 N New York Ave Muncie, IN	3.0–4.0	1.0	1200	$1,000	$0.83	93d	10	1.46mi

Property features AI

Exterior

• Parking: Attached concrete garage with 1 garage space
• Utilities: Public waterPublic sewer
• Home design: Single-family residence (site-built)One story
• Construction: Vinyl sidingShallow crawl space foundation
• Exterior features: Level lotShed(s) on propertyLot dimensions approximately 650 x 1300

Interior

• Kitchen: Gas rangeRefrigerator
• Bedrooms: 6 total rooms (includes bedrooms and living spaces)
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas)Central air conditioning
• Interior features: Refrigerator and gas range includedOne fireplaceCrawl space basement
• Laundry & utility: Laundry on the main level

Listing history 37 events

1. 2026-07-10
   days on market $80,000 Active 66 DOM
2. 2026-07-09
   days on market $80,000 Active 65 DOM
3. 2026-07-08
   days on market $80,000 Active 64 DOM
4. 2026-07-07
   days on market $80,000 Active 63 DOM
5. 2026-07-06
   days on market $80,000 Active 62 DOM
6. 2026-07-05
   days on market $80,000 Active 61 DOM
7. 2026-07-04
   days on market $80,000 Active 60 DOM
8. 2026-07-03
   days on market $80,000 Active 59 DOM
9. 2026-07-02
   days on market $80,000 Active 58 DOM
10. 2026-07-01
    days on market $80,000 Active 57 DOM
11. 2026-06-30
    days on market $80,000 Active 56 DOM
12. 2026-06-29
    days on market $80,000 Active 55 DOM
13. 2026-06-28
    days on market $80,000 Active 54 DOM
14. 2026-06-28
    days on market $80,000 Active 53 DOM
15. 2026-06-27
    days on market $80,000 Active 52 DOM
16. 2026-06-26
    days on market $80,000 Active 51 DOM
17. 2026-06-23
    days on market $80,000 Active 48 DOM
18. 2026-06-22
    days on market $80,000 Active 47 DOM
19. 2026-06-19
    days on market $80,000 Active 45 DOM
20. 2026-06-18
    days on market $80,000 Active 44 DOM
21. 2026-06-17
    days on market $80,000 Active 43 DOM
22. 2026-06-16
    days on market $80,000 Active 42 DOM
23. 2026-06-15
    days on market $80,000 Active 41 DOM
24. 2026-06-14
    days on market $80,000 Active 39 DOM
25. 2026-06-13
    days on market $80,000 Active 38 DOM
26. 2026-06-10
    days on market $80,000 Active 36 DOM
27. 2026-06-09
    days on market $80,000 Active 35 DOM
28. 2026-06-08
    days on market $80,000 Active 34 DOM
29. 2026-06-07
    days on market $80,000 Active 33 DOM
30. 2026-06-05
    days on market $80,000 Active 30 DOM
31. 2026-06-03
    days on market $80,000 Active 29 DOM
32. 2026-06-02
    days on market $80,000 Active 28 DOM
33. 2026-06-01
    days on market $80,000 Active 27 DOM
34. 2026-05-31
    days on market $80,000 Active 26 DOM
35. 2026-05-30
    days on market $80,000 Active 25 DOM
36. 2026-05-08
    status Pending 484-char remark
37. 2026-04-24
    listed $80,000 Active 484-char remark

ⓘ 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: $950 · $79/mo
• Projected year-2 tax: $950 · $79/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 100% 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: $13,894
• − Mortgage interest: −$4,481
• − Property taxes: −$950
• − Insurance: −$400
• − Repairs & maintenance: −$1,111
• − Management: −$1,111
• − Depreciation: −$2,327
• Taxable income: $3,512
• Est. tax owed @ 24.0%: −$843
• After-tax cash flow: $3,749/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 · 9 photos

Fair 45/100 Moderate rehab Est. rehab $22,500–$40,500 screening

This single-family home requires moderate renovations to bring it up to date and increase its value. The new roof provides peace of mind, but the kitchen and bathroom need significant updates, and the interior walls and landscaping require attention.

Components & finishes AI

Roof asphalt shingle · good Flooring wood Appliances white

Deferred maintenance Est. $2,500–$10,000 screening

• Minor Roof (roof) — No visible signs of damage or wear
• Minor Windows (windows) — No visible signs of damage or wear
• Minor Electrical (electrical) — No visible signs of damage or wear
• Minor Plumbing (plumbing) — No visible signs of damage or wear
• Minor Exterior (exterior) — No visible signs of damage or wear

Repairs flagged

• Major kitchen cabinets — severely worn and outdated
• Major kitchen countertops — worn and in need of replacement
• Major kitchen appliances — outdated and in need of replacement
• Major bathroom fixtures — basic and dated
• Major interior walls — peeling paint and uneven walls
• Major landscaping — overgrown and in need of trimming

Value-add opportunities

• Resale new kitchen cabinets and countertops — modernizing the kitchen would significantly increase its appeal ↑
• Resale new kitchen appliances — upgrading the appliances would make the kitchen more functional and attractive ↑
• Resale new bathroom fixtures — modernizing the bathroom would improve its functionality and appeal ↑
• Both landscaping improvements — improving the landscaping would enhance curb appeal and increase the home's value ↑
• Both paint interior walls — painting the interior walls would improve the home's appearance and increase its value ↑

ⓘ Rehab cost is a screening estimate — Moderate scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

F Composite school gradezoned avg 27/100

Zoned Schools

Elementary North View Elementary School F IN #737/994 Nat'l #28,475/41,679 Middle Northside Middle School F IN #236/330 Nat'l #9,979/14,009 High Muncie Central High School

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

A Composite livability gradescore 80/100

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 · 113,036 people
• City population: 84,658
• Metro: Muncie, IN
• Population (ZIP): 31,237
• Household income: $63,215
• Rent vs Own: 34.6% rent · 65.4% own
• Severe rent burden: 8% of renters

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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%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (85%)
• Race & ethnicity: White 85% Two or more races 5% Black 4% Asian 4% Hispanic / Latino 3%
• Common ancestry: Lithuanian 2% Romanian 2% Slovak 1%
• Foreign-born: 5% · Canada, Vietnam, China
• Languages at home: 94% English-only · Spanish 2% Other Indo-European 1% Vietnamese 1%

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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: ▼ -78.53%
• Current HPI: 197.5213
• Rent YoY: ▲ 8.08%
• Metro: Muncie, IN
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

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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

Property features AI

Exterior

• Parking: Attached concrete garage with 1 garage space
• Utilities: Public waterPublic sewer
• Home design: Single-family residence (site-built)One story
• Construction: Vinyl sidingShallow crawl space foundation
• Exterior features: Level lotShed(s) on propertyLot dimensions approximately 650 x 1300

Interior

• Kitchen: Gas rangeRefrigerator
• Bedrooms: 6 total rooms (includes bedrooms and living spaces)
• Flooring: Hardwood floors
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating (natural gas)Central air conditioning
• Interior features: Refrigerator and gas range includedOne fireplaceCrawl space basement
• Laundry & utility: Laundry on the main level

Price history

3 events — show timeline

• 2026-05-19 Relisted — IRMLS
• 2026-05-08 Pending — IRMLS
• 2026-04-24 Listed $80,000 IRMLS

Property tax history

-8.5%/yr

Latest (2024): $950 · -0.2% YoY. Source: county tax records.