708 W Jackson St · Muncie, IN 47305

$115,000

3 bd · 3.0 ba · 2,700 sqft · MultiFamily public records · 163 Days on market

Built 1890 3,920 sqft lot $43/sqft · 7% below area Est $124k · 7% 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 +10.8/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Investment Opportunity close to downtown Muncie! This property features 3 units: two - 2 bedroom, 1 bath units, and one - 1 bedroom, 1 bath unit. The 3 units are currently leased. Gross monthly Rental income at full occupancy is $2070. Landlord pays gas. Tenants pay electricity, water, and sewage.

Key facts

• 3,920 sq ft lot
• 4 parking spots
• Built 1890

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath multifamily listed at $115k.

Deal economics

• At list price, monthly cash flow is $1k ($16k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $115k).
• Recommended offer: $101k (12.0% below list) — sets the bar for market timing.
• Cap rate 19.8% vs local median 5.9% 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: South View Elementary School (math 8% / reading 11%, grade F, #932 of 994 statewide, top 94%, 445 students, 92% 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).
• Market conditions: Rents rising (+3.3%/yr); 27 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 46d 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).

Forward outlook

• In year one you build about $7k of equity ($795 loan paydown + $6k 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 $32k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$37k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 163 days — a 12% lower offer ($101k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y ago; this cycle's ask has dropped $25k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $12k; list at $115k implies a 858% 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 $101,200 (12.0% below list)

Questions for the listing agent

1. It's been on market 163 days. Have you received any prior offers? Is the seller open to a 12% 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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.29% ✓
• Cap rate: 19.83%
• Cash-on-cash: 48.34%
• DSCR: 3.15
• GRM: 3.6

CMA / ARV

• ARV (median comp): $124,087
• List price: $115,000
• Delta: -7.32%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
800 W Charles St	0.13mi	3/3.0	2,500 (-7%)	10mo	$75,536	$30	74
211 S Liberty St	0.19mi	4/4.0 (+1)	2,928 (+8%)	10mo	$190,000	$65	60
621 E Main St	0.73mi	2/5.0 (-1)	2,653 (-2%)	10mo	$50,000	$19	41
511 E Jackson St	0.65mi	3/3.0	2,448 (-9%)	16mo	$110,000	$45	41
747 N Mulberry St	0.70mi	4/2.0 (+1)	2,400 (-11%)	7mo	$89,000	$37	34
100 N Calvert St	0.68mi	4/5.0 (+1)	3,068 (+14%)	7mo	$261,000	$85	27

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: 56.6%
• Equity multiple: 4.47×
• Total profit: $111,686
• Equity at exit: $67,095

10-year hold

• IRR: 54.3%
• Equity multiple: 9.29×
• Total profit: $266,867
• Equity at exit: $117,421

Cash invested: $32,200 (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: 27
• Price-to-rent: 10.6×

Monthly cashflow live

• Estimated rent: $2,629 high
• Mortgage (P&I): −$603
• Tax from tax record: −$129 /mo · $1,544/yr
• Insurance: −$48
• HOA: −$0
• Vacancy / Maint / Mgmt: −$552
• Net cashflow: $1,297

Break-even live

Break-even rent $987

Max offer price $115,000

Occupancy floor 46%

Sensitivity live

Price	-10% $1,362	-5% $1,330	+0% $1,297	+5% $1,265	+10% $1,232
Rent	-10% $1,090	-5% $1,193	+0% $1,297	+5% $1,401	+10% $1,505
Rate	-1.0pp $1,355	-0.5pp $1,327	base $1,297	+0.5pp $1,267	+1.0pp $1,237

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$1,810
1× unit	1	1	$818
Total (3 units)			$2,629

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: $28,750
• Closing costs: $3,450
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
614 W Charles St Muncie, IN	2.0	1.0	3266	$775	$0.24	45d	1	0.13mi
312 S Calvert St Muncie, IN	3.0	1.0	1813	$1,500	$0.83	45d	1	0.67mi
328 S Talley Ave Muncie, IN	2.0	1.0	1770	$1,400	$0.79	45d	1	0.85mi
2201 W Euclid Ave Muncie, IN	3.0	1.0	1844	$1,200	$0.65	45d	1	1.35mi
1901 N Maplewood Ave Muncie, IN	4.0	1.5	1887	$1,700	$0.90	45d	1	1.40mi

Listing history 25 events

1. 2026-06-22
   days on market $115,000 Active 163 DOM
2. 2026-06-19
   days on market $115,000 Active 161 DOM
3. 2026-06-18
   days on market $115,000 Active 160 DOM
4. 2026-06-17
   price $115,000 Active 159 DOM
5. 2026-06-17
   days on market $124,999 Active 159 DOM
6. 2026-06-16
   days on market $124,999 Active 158 DOM
7. 2026-06-15
   days on market $124,999 Active 157 DOM
8. 2026-06-14
   days on market $124,999 Active 155 DOM
9. 2026-06-13
   days on market $124,999 Active 154 DOM
10. 2026-06-10
    days on market $124,999 Active 152 DOM
11. 2026-06-09
    days on market $124,999 Active 151 DOM
12. 2026-06-08
    days on market $124,999 Active 150 DOM
13. 2026-06-07
    days on market $124,999 Active 149 DOM
14. 2026-06-05
    days on market $124,999 Active 146 DOM
15. 2026-06-03
    days on market $124,999 Active 145 DOM
16. 2026-06-02
    days on market $124,999 Active 144 DOM
17. 2026-06-01
    days on market $124,999 Active 143 DOM
18. 2026-05-31
    days on market $124,999 Active 142 DOM
19. 2026-05-30
    days on market $124,999 Active 141 DOM
20. 2026-04-28
    price $124,999

    Show marketing remark (300 chars)

    Investment Opportunity close to downtown Muncie! This property features 3 units: two - 2 bedroom, 1 bath units, and one - 1 bedroom, 1 bath unit. The 3 units are currently leased. Gross monthly Rental income at full occupancy is $2070. Landlord pays gas. Tenants pay electricity, water, and sewage.

21. 2026-04-28
    price $124,999 300-char remark

    Show marketing remark (300 chars)

    Investment Opportunity close to downtown Muncie! This property features 3 units: two - 2 bedroom, 1 bath units, and one - 1 bedroom, 1 bath unit. The 3 units are currently leased. Gross monthly Rental income at full occupancy is $2070. Landlord pays gas. Tenants pay electricity, water, and sewage.

22. 2026-01-09
    listed $139,900 Active 300-char remark

    Show marketing remark (300 chars)

    Investment Opportunity close to downtown Muncie! This property features 3 units: two - 2 bedroom, 1 bath units, and one - 1 bedroom, 1 bath unit. The 3 units are currently leased. Gross monthly Rental income at full occupancy is $2070. Landlord pays gas. Tenants pay electricity, water, and sewage.

23. 2026-01-09
    listed $139,900 Active

    Show marketing remark (300 chars)

    Investment Opportunity close to downtown Muncie! This property features 3 units: two - 2 bedroom, 1 bath units, and one - 1 bedroom, 1 bath unit. The 3 units are currently leased. Gross monthly Rental income at full occupancy is $2070. Landlord pays gas. Tenants pay electricity, water, and sewage.

24. 2018-04-26
    soldstatus $12,000
25. 2017-06-08
    listed $19,900

ⓘ 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: $1,544 · $129/mo
• Projected year-2 tax: $1,544 · $129/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: $31,548
• − Mortgage interest: −$6,442
• − Property taxes: −$1,544
• − Insurance: −$575
• − Repairs & maintenance: −$2,524
• − Management: −$2,524
• − Depreciation: −$3,345
• Taxable income: $14,594
• Est. tax owed @ 24.0%: −$3,503
• After-tax cash flow: $12,064/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

+528.1% since first listed

6 events — show timeline

• 2026-04-28 Price Changed $124,999 MIBOR as Distributed by MLS Grid
• 2026-04-28 Price Changed $124,999 IRMLS
• 2026-01-09 Listed $139,900 IRMLS
• 2026-01-09 Listed $139,900 MIBOR as Distributed by MLS Grid
• 2018-04-26 Sold (MLS) $12,000 IRMLS
• 2017-06-08 Listed $19,900 IRMLS

Property tax history

+0.8%/yr

Latest (2024): $1,544 · +18.4% YoY. Source: county tax records.