1400 E 7th St · Muncie, IN 47302

$100,000

3 bd · 1.0 ba · 960 sqft · SingleFamily public records · 24 Days on market

Built 1994 6,098 sqft lot $104/sqft · 81% above area

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Why this score? — see what drove the C+ 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 +26.2/30.0
• DSCR +8.9/10.0
• ARV discount +7.5/15.0
• 1% rule +5.9/10.0
• 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

3 bedroom, 1 bath home in the heart of Muncie at an unbeatable price point. This 960 sqft single-story was built in 1994 and offers practical one level living with a functional layout. The 50x125 lot includes a storage shed and ample off street parking. Easy access to downtown Muncie, shopping, and Ball State.

Key facts

• Off street parking
• Storage shed
• Functional layout

Tags

• STORAGE SHED
• OFF STREET PARKING
• FUNCTIONAL LAYOUT

Property features AI

Finance

• Other: Lot dimensions approximately 50 x 125 (0.14 acre)

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; One-story
• Construction: Vinyl siding; Built as a site-built home
• Exterior features: Level lot; Shed on the property

Interior

• Bedrooms: Bedrooms located on the main level
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Natural gas heating with forced air; Window cooling units
• Interior features: Crawl space basement; Six total rooms
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $100k.

Deal economics

• At list price, monthly cash flow is $256 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $98k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.4% 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: Longfellow Elementary School (math 17% / reading 12%, grade F, #862 of 994 statewide, top 88%, 324 students, 86% FRL); Southside Middle School (math 7% / reading 15%, grade F, #312 of 330 statewide, top 95%, 443 students, 85% FRL) — zoned schools average 86% FRL vs 68% district-wide (18 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; 33 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 $691 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($98k) 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.

Recommended offer $98,500 (1.5% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. 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.
5. 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.
6. 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: 1.09% ✓
• Cap rate: 9.37%
• Cash-on-cash: 10.98%
• DSCR: 1.49
• GRM: 7.6

CMA / ARV

• ARV (median comp): $55,314
• List price: $100,000
• Delta: 80.79%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1224 S Beacon St	0.20mi	2/1.0 (-1)	832 (-13%)	1mo	$73,500	$88	62
808 E 13th St	0.52mi	2/1.0 (-1)	897 (-7%)	2mo	$102,500	$114	58
1407 S Meeker Ave	0.65mi	2/1.0 (-1)	980 (+2%)	5mo	$110,000	$112	57
2006 S Beacon St	0.47mi	2/1.0 (-1)	900 (-6%)	9mo	$85,000	$94	55
2005 S Beacon St	0.48mi	3/1.0	1,068 (+11%)	6mo	$115,875	$108	54
1720 S Jefferson St	0.72mi	2/1.0 (-1)	936 (-2%)	9mo	$89,900	$96	50
1215 E 14th St	0.49mi	2/1.0 (-1)	860 (-10%)	6mo	$72,500	$84	49
1512 S Wall Ave	0.75mi	2/1.0 (-1)	912 (-5%)	4mo	$62,500	$69	48
1101 E Memorial Dr	0.41mi	2/1.0 (-1)	1,085 (+13%)	8mo	$89,900	$83	48
721 South Hackley St	0.46mi	2/1.0 (-1)	1,080 (+12%)	7mo	$39,000	$36	47
2310 S Hackley St	0.72mi	2/1.0 (-1)	910 (-5%)	8mo	$60,000	$66	46
2210 S Penn St	0.59mi	2/1.0 (-1)	840 (-12%)	6mo	$108,000	$129	42

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: 3.2%
• Equity multiple: 1.13×
• Total profit: $3,602
• Equity at exit: $14,910

10-year hold

• IRR: 15.3%
• Equity multiple: 2.41×
• Total profit: $39,408
• Equity at exit: $8,646

Cash invested: $28,000 (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: 7.6×

Monthly cashflow live

• Estimated rent: $1,091 high
• Mortgage (P&I): −$524
• Tax from tax record: −$40 /mo · $475/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $256

Break-even live

Break-even rent $767

Max offer price $100,000

Occupancy floor 72%

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: $25,000
• Closing costs: $3,000
• Reserves months: —
• Total cash needed: —

Rent comps 33 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1310 E 5th St Muncie, IN	3.0	1.0	864	$1,300	$1.50	44d	1	0.14mi
1521 E Kirby Ave Muncie, IN	2.0–4.0	1.0–2.0	972	$1,150	$1.18	44d	2	0.37mi
1109 E Kirby Ave Muncie, IN	2.0–3.0	1.0	971	$975	$1.00	44d	2	0.41mi
1703 E 14th St Apt 15 Muncie, IN	2.0	1.0	756	$777	$1.03	44d	1	0.53mi
2213 E Memorial Dr Muncie, IN	2.0	1.0–2.0	997	$1,078	$1.08	44d	1	0.66mi
2105 S Vine St Muncie, IN	3.0	1.0	960	$1,365	$1.42	44d	1	0.66mi
2302 S Hackley St Muncie, IN	2.0	1.0	870	$1,199	$1.38	44d	1	0.69mi
1721 S Elm St Muncie, IN	2.0	1.0	940	$925	$0.98	44d	1	0.69mi
1804 S Wall Ave Muncie, IN	2.0	1.0	900	$899	$1.00	44d	1	0.78mi
1806 E 18th St Muncie, IN	3.0	1.0	865	$1,100	$1.27	44d	1	0.79mi
1525 S Walnut St Unit 11 Muncie, IN	2.0	1.0	800	$775	$0.97	44d	1	0.84mi
305 N Pershing Dr Muncie, IN	3.0	1.0	1062	$1,100	$1.04	44d	1	0.97mi
206 W 13th St Muncie, IN	2.0	1.0	992	$900	$0.91	44d	1	0.98mi
319 W 10th St Muncie, IN	2.0	1.0	869	$885	$1.02	44d	1	0.99mi
2316 S Walnut St Muncie, IN	3.0	1.0	956	$1,100	$1.15	44d	1	1.01mi
2808 S Brotherton St Muncie, IN	2.0	1.0	966	$825	$0.85	44d	1	1.04mi
415 W 9th St Muncie, IN	2.0	1.0	705	$925	$1.31	44d	1	1.04mi
301 W 13th St Muncie, IN	1.0–2.0	1.0	725	$844	$1.16	44d	1	1.04mi
509 W 8th St Muncie, IN	3.0	1.0	1008	$1,325	$1.31	44d	1	1.10mi
326 W Charles St Muncie, IN	2.0	1.0	836	$1,300	$1.56	44d	1	1.14mi
2815 S Elm St Muncie, IN	2.0	1.0	672	$875	$1.30	44d	1	1.19mi
3013 S Pershing Dr Muncie, IN	3.0	1.0	814	$850	$1.04	44d	1	1.20mi
1609 S Gharkey St Muncie, IN	2.0	1.0	744	$750	$1.01	44d	1	1.23mi
514 W Charles St Muncie, IN	2.0	1.0	1062	$800	$0.75	44d	1	1.23mi
3106 S Vine St Muncie, IN	3.0	1.0	1080	$1,200	$1.11	44d	1	1.26mi
522 W Adams St Muncie, IN	2.0	1.0	750	$810	$1.08	44d	6	1.27mi
400 W Washington St Unit 213 Muncie, IN	2.0	2.0	1009	$1,200	$1.19	44d	1	1.28mi
305 N Biltmore Ave Muncie, IN	2.0	1.0	912	$1,186	$1.30	44d	1	1.31mi
815 W Memorial Dr Muncie, IN	2.0	1.0	800	$750	$0.94	44d	1	1.33mi
3508 E Memorial Dr Muncie, IN	2.0–3.0	1.0–2.0	1029	$1,091	$1.06	44d	7	1.37mi
1901 E 26th St Unit 5 Muncie, IN	2.0	1.0	600	$865	$1.44	44d	1	1.39mi
1001 W 1st St Unit 1 Muncie, IN	3.0	1.5	1098	$875	$0.80	44d	1	1.40mi
1414 E Highland Ave Muncie, IN	2.0	1.5	1056	$900	$0.85	44d	1	1.44mi

Listing history 18 events

1. 2026-06-19
   days on market $100,000 Active 24 DOM
2. 2026-06-18
   days on market $100,000 Active 23 DOM
3. 2026-06-17
   days on market $100,000 Active 22 DOM
4. 2026-06-16
   days on market $100,000 Active 21 DOM
5. 2026-06-15
   days on market $100,000 Active 20 DOM
6. 2026-06-14
   days on market $100,000 Active 18 DOM
7. 2026-06-13
   days on market $100,000 Active 17 DOM
8. 2026-06-10
   days on market $100,000 Active 15 DOM
9. 2026-06-09
   days on market $100,000 Active 14 DOM
10. 2026-06-08
    days on market $100,000 Active 13 DOM
11. 2026-06-07
    days on market $100,000 Active 12 DOM
12. 2026-06-05
    days on market $100,000 Active 9 DOM
13. 2026-06-03
    days on market $100,000 Active 8 DOM
14. 2026-06-02
    days on market $100,000 Active 7 DOM
15. 2026-06-01
    days on market $100,000 Active 6 DOM
16. 2026-05-31
    days on market $100,000 Active 5 DOM
17. 2026-05-30
    days on market $100,000 Active 4 DOM
18. 2026-04-22
    listed $100,000 Active 311-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: $475 · $40/mo
• Projected year-2 tax: $662 · $55/mo
• Expected delta: +$188/yr (+$16/mo · 39.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°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: $13,093
• − Mortgage interest: −$5,602
• − Property taxes: −$475
• − Insurance: −$500
• − Repairs & maintenance: −$1,047
• − Management: −$1,047
• − Depreciation: −$2,909
• Taxable income: $1,512
• Est. tax owed @ 24.0%: −$363
• After-tax cash flow: $2,712/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

+0.0% since first listed

2 events — show timeline

• 2026-05-26 Listed $100,000 IRMLS
• 2026-04-22 Listed $100,000 IRMLS

Property tax history

+1.0%/yr

Latest (2024): $475 · -9.7% YoY. Source: county tax records.