2107 S Jefferson St · Muncie, IN 47302

$32,900

3 bd · 1.0 ba · 1,082 sqft · SingleFamily public records · 35 Days on market

Built 1898 5,120 sqft lot $30/sqft · 19% below area Est $40k · 19% 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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 MLS

3-bedroom, 1-bath home featuring an open concept living and dining area. Also has washer and dryer hookups conveniently located in the bathroom. Property needs TLC but offers plenty of potential for an owner-occupant or investor. Opportunity to make it your own with some updates and improvements.

Key facts

• 5,120 sq ft lot
• Built 1898
• Listed 34 days

Property features AI

Exterior

• Utilities: Public water; Connected to municipal sewer; No solid waste service listed
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: Approximately 0.12-acre lot

Interior

• Kitchen: Kitchen on the main level (approx. 12x12); No appliances included
• Bedrooms: Three bedrooms on the main level (sizes approximately 11x11, 11x10, 10x10)
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Electric baseboard heat; No central air
• Interior features: Attic access; 5 main-level rooms (living room, kitchen and three bedrooms)
• Laundry & utility: No washer/dryer listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $33k.

Deal economics

• At list price, monthly cash flow is $634 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $33k).
• Recommended offer: $32k (3.0% below list) — sets the bar for market timing.
• Cap rate 29.4% 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: South View Elementary School (math 8% / reading 11%, grade F, #932 of 994 statewide, top 94%, 445 students, 92% FRL) — zoned schools average 92% FRL vs 68% district-wide (24 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Zoned-school proficiency averages 10% at this address vs 22% district-wide (-12 pts) — the specific schools serving this property underperform the Muncie Community Schools average; the district grade overstates school quality for this exact location.
• Market conditions: Rents rising fast (+6.1%/yr); 148 active listings in the ZIP; 36 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 $227 of loan paydown is wiped out by about $987 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 $9k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 35 days — a 3% lower offer ($32k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $7k (18%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $7k; list at $33k implies a 370% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1898 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $31,913 (3.0% below list)

Questions for the listing agent

1. It's been on market 35 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1898 — 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. 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.
7. 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.
8. 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: 3.27% ✓
• Cap rate: 29.42%
• Cash-on-cash: 82.59%
• DSCR: 4.67
• GRM: 2.5

CMA / ARV

• ARV (median comp): $40,478
• List price: $32,900
• Delta: -18.72%
• 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
2004 S High St	0.17mi	3/1.0	1,092 (+1%)	5mo	$72,000	$66	86
2107 S Elm St	0.06mi	2/1.0 (-1)	1,072 (-1%)	8mo	$40,000	$37	84
1702 S High St	0.32mi	2/1.0 (-1)	1,096 (+1%)	3mo	$59,000	$54	76
2005 S Beacon St	0.49mi	3/1.0	1,068 (-1%)	6mo	$115,875	$108	70
617 W 15th St	0.45mi	2/1.0 (-1)	1,092 (+1%)	5mo	$108,000	$99	68
2316 S Walnut St	0.17mi	3/1.0	956 (-12%)	5mo	$35,000	$37	68
226 E 16th St	0.11mi	2/1.0 (-1)	960 (-11%)	6mo	$50,000	$52	66
1101 E Memorial Dr	0.53mi	2/1.0 (-1)	1,085 (+0%)	8mo	$89,900	$83	64
2812 S Jefferson St	0.51mi	2/1.0 (-1)	1,110 (+3%)	8mo	$128,500	$116	60
2823 S Vine St	0.58mi	3/1.0	1,157 (+7%)	2mo	$112,500	$97	60
802 W 13th St	0.57mi	2/1.0 (-1)	1,040 (-4%)	2mo	$92,000	$88	60
1710 S Gharkey St	0.55mi	2/1.0 (-1)	1,160 (+7%)	8mo	$59,900	$52	50

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: 86.3%
• Equity multiple: 5.18×
• Total profit: $38,529
• Equity at exit: $4,905

10-year hold

• IRR: 90.2%
• Equity multiple: 11.94×
• Total profit: $100,769
• Equity at exit: $2,845

Cash invested: $9,212 (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: 2.5×

Monthly cashflow live

• Estimated rent: $1,076 high
• Mortgage (P&I): −$173
• Tax from tax record: −$30 /mo · $358/yr
• Insurance: −$14
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $634

Break-even live

Break-even rent $274

Max offer price $32,900

Occupancy floor 36%

Sensitivity live

Price	-10% $653	-5% $643	+0% $634	+5% $625	+10% $615
Rent	-10% $549	-5% $591	+0% $634	+5% $676	+10% $719
Rate	-1.0pp $651	-0.5pp $642	base $634	+0.5pp $625	+1.0pp $617

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: $8,225
• Closing costs: $987
• Reserves months: —
• Total cash needed: —

Rent comps 36 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
301 E Memorial Dr Muncie, IN	3.0	1.5	1172	$1,099	$0.94	44d	1	0.14mi
2316 S Walnut St Muncie, IN	3.0	1.0	956	$1,100	$1.15	44d	1	0.18mi
2105 S Vine St Muncie, IN	3.0	1.0	960	$1,365	$1.42	44d	1	0.23mi
206 W 13th St Muncie, IN	2.0	1.0	992	$900	$0.91	44d	1	0.24mi
1721 S Elm St Muncie, IN	2.0	1.0	940	$925	$0.98	44d	1	0.24mi
301 W 13th St Muncie, IN	1.0–2.0	1.0	725	$844	$1.16	44d	1	0.28mi
1525 S Walnut St Unit 11 Muncie, IN	2.0	1.0	800	$775	$0.97	44d	1	0.39mi
2302 S Hackley St Muncie, IN	2.0	1.0	870	$1,199	$1.38	44d	1	0.40mi
319 W 10th St Muncie, IN	2.0	1.0	869	$885	$1.02	44d	1	0.40mi
415 W 9th St Muncie, IN	2.0	1.0	705	$925	$1.31	44d	1	0.49mi
509 W 8th St Muncie, IN	3.0	1.0	1008	$1,325	$1.31	44d	1	0.57mi
815 W Memorial Dr Muncie, IN	2.0	1.0	800	$750	$0.94	44d	1	0.62mi
1609 S Gharkey St Muncie, IN	2.0	1.0	744	$750	$1.01	44d	1	0.63mi
2904 S Pershing Dr Muncie, IN	4.0	1.0	1362	$1,425	$1.05	44d	1	0.64mi
3013 S Pershing Dr Muncie, IN	3.0	1.0	814	$850	$1.04	44d	1	0.71mi
3106 S Vine St Muncie, IN	3.0	1.0	1080	$1,200	$1.11	44d	1	0.74mi
1310 E 5th St Muncie, IN	3.0	1.0	864	$1,300	$1.50	44d	1	0.89mi
1703 E 14th St Apt 15 Muncie, IN	2.0	1.0	756	$777	$1.03	44d	1	0.91mi
1109 E Kirby Ave Muncie, IN	2.0–3.0	1.0	971	$975	$1.00	44d	2	0.98mi
1806 E 18th St Muncie, IN	3.0	1.0	865	$1,100	$1.27	44d	1	1.03mi
1001 W 1st St Unit 1 Muncie, IN	3.0	1.5	1098	$875	$0.80	44d	1	1.05mi
412 W Howard St Muncie, IN	3.0	1.0	1300	$1,000	$0.77	44d	1	1.05mi
326 W Charles St Muncie, IN	2.0	1.0	836	$1,300	$1.56	44d	1	1.10mi
417 S Council St Muncie, IN	3.0	1.0	1132	$1,025	$0.91	44d	1	1.10mi
1521 E Kirby Ave Muncie, IN	2.0–4.0	1.0–2.0	972	$1,150	$1.18	44d	2	1.13mi
514 W Charles St Muncie, IN	2.0	1.0	1062	$800	$0.75	44d	1	1.13mi
2808 S Brotherton St Muncie, IN	2.0	1.0	966	$825	$0.85	44d	1	1.13mi
1704 W 15th St Muncie, IN	3.0	1.0	1026	$1,275	$1.24	44d	1	1.14mi
1802 E Willard St Muncie, IN	3.0	2.5	1224	$1,100	$0.90	44d	1	1.16mi
522 W Adams St Muncie, IN	2.0	1.0	750	$810	$1.08	44d	6	1.20mi
2213 E Memorial Dr Muncie, IN	2.0	1.0–2.0	997	$1,078	$1.08	44d	1	1.23mi
400 W Washington St Unit 213 Muncie, IN	2.0	2.0	1009	$1,200	$1.19	44d	1	1.32mi
907 W Main St Apt 1 Muncie, IN	2.0	1.0	750	$775	$1.03	44d	1	1.37mi
906 W Main St Muncie, IN	1.0–2.0	1.0	712	$995	$1.40	44d	3	1.39mi
305 N Pershing Dr Muncie, IN	3.0	1.0	1062	$1,100	$1.04	44d	1	1.40mi
1804 S Wall Ave Muncie, IN	2.0	1.0	900	$899	$1.00	44d	1	1.44mi

Listing history 19 events

1. 2026-06-19
   days on market $32,900 Active 35 DOM
2. 2026-06-18
   days on market $32,900 Active 34 DOM
3. 2026-06-17
   days on market $32,900 Active 33 DOM
4. 2026-06-16
   days on market $32,900 Active 32 DOM
5. 2026-06-15
   days on market $32,900 Active 31 DOM
6. 2026-06-14
   days on market $32,900 Active 29 DOM
7. 2026-06-13
   pricedays on market $32,900 Active 28 DOM
8. 2026-06-10
   days on market $37,900 Active 26 DOM

   Show marketing remark (297 chars)

   3-bedroom, 1-bath home featuring an open concept living and dining area. Also has washer and dryer hookups conveniently located in the bathroom. Property needs TLC but offers plenty of potential for an owner-occupant or investor. Opportunity to make it your own with some updates and improvements.

9. 2026-06-09
   days on market $37,900 Active 25 DOM
10. 2026-06-08
    days on market $37,900 Active 24 DOM
11. 2026-06-07
    days on market $37,900 Active 23 DOM
12. 2026-06-05
    days on market $37,900 Active 20 DOM
13. 2026-06-03
    days on market $37,900 Active 19 DOM
14. 2026-06-02
    days on market $37,900 Active 18 DOM
15. 2026-06-01
    days on market $37,900 Active 17 DOM
16. 2026-05-31
    days on market $37,900 Active 16 DOM
17. 2026-05-30
    days on market $37,900 Active 15 DOM
18. 2026-05-15
    listed $39,900 Active 297-char remark

    Show marketing remark (297 chars)

    3-bedroom, 1-bath home featuring an open concept living and dining area. Also has washer and dryer hookups conveniently located in the bathroom. Property needs TLC but offers plenty of potential for an owner-occupant or investor. Opportunity to make it your own with some updates and improvements.

19. 2026-05-15
    listed $39,900 Active 297-char remark

    Show marketing remark (297 chars)

    3-bedroom, 1-bath home featuring an open concept living and dining area. Also has washer and dryer hookups conveniently located in the bathroom. Property needs TLC but offers plenty of potential for an owner-occupant or investor. Opportunity to make it your own with some updates and improvements.

ⓘ 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: $358 · $30/mo
• Projected year-2 tax: $358 · $30/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 ≥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: $12,912
• − Mortgage interest: −$1,843
• − Property taxes: −$358
• − Insurance: −$164
• − Repairs & maintenance: −$1,033
• − Management: −$1,033
• − Depreciation: −$957
• Taxable income: $7,524
• Est. tax owed @ 24.0%: −$1,806
• After-tax cash flow: $5,802/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

+370.0% since first listed

7 events — show timeline

• 2026-06-10 Price Changed $32,900 IRMLS
• 2026-06-10 Price Changed $32,900 MIBOR as Distributed by MLS Grid
• 2026-05-26 Price Changed $37,900 IRMLS
• 2026-05-26 Price Changed $37,900 MIBOR as Distributed by MLS Grid
• 2026-05-15 Listed $39,900 MIBOR as Distributed by MLS Grid
• 2026-05-15 Listed $39,900 IRMLS
• 2026-05-06 Sold (Public Records) $7,000 Public Records

Property tax history

+16.5%/yr

Latest (2024): $358 · +12.6% YoY. Source: county tax records.