2225 W 7th St · Muncie, IN 47302

$85,000

2 bd · 1.0 ba · 1,196 sqft · SingleFamily public records · 10 Days on market

Built 1926 5,000 sqft lot $71/sqft · 38% above area Est $92k · 8% under

---

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 +25.7/30.0
• ARV discount +11.0/15.0
• DSCR +8.6/10.0
• 1% rule +6.8/10.0
• 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

SUPER NICE INVESTMENT PROPERTY! This 2 Bedroom 1 bath home has several updates and offers a great floor plan. You will love the LVP flooring throughout. Enjoy a large living room, dining area, breakfast nook and 2 spacious bedrooms. There is a basement for extra storage and all appliances are included. Plenty of off street parking in the back. A lease is currently in place until 7/25/26. Rental amount is $925 monthly and tenant pays utilities. Convenient location not far from BSU and the Hospital. Lots of charm! A great house at a great price!

Key facts

• Breakfast nook
• Off street parking
• Dining area

Tags

• LVP FLOORING
• LARGE LIVING ROOM
• DINING AREA
• BREAKFAST NOOK
• BASEMENT FOR EXTRA STORAGE
• OFF STREET PARKING

Property features AI

Exterior

• Utilities: Public water; Municipal sewer connected; No solid waste service listed
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Crawl space foundation
• Exterior features: Lot under 1/4 acre

Interior

• Kitchen: Electric oven; Refrigerator; Eat-in kitchen layout
• Bedrooms: 2 bedrooms (both on the main level)
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Baseboard heating; Window unit(s) for cooling; No central air
• Interior features: Eat-in kitchen; Partial basement
• Laundry & utility: Washer; Dryer; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $204 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Cap rate 9.2% 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: West View Elementary School (math 32% / reading 27%, grade F, #697 of 994 statewide, top 73%, 479 students, 61% FRL).
• Market conditions: Rents rising fast (+6.1%/yr); 148 active listings in the ZIP; 35 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 $588 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 $24k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 4y ago 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 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $85,000

Questions for the listing agent

1. Built in 1926 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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.
6. 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.
7. 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: 1.18% ✓
• Cap rate: 9.18%
• Cash-on-cash: 10.31%
• DSCR: 1.46
• GRM: 7.1

CMA / ARV

• ARV (median comp): $92,161
• List price: $85,000
• Delta: -7.77%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2504 W 8th St	0.17mi	3/1.0 (+1)	1,116 (-7%)	3mo	$115,000	$103	74
1601 S Clark St	0.30mi	3/1.0 (+1)	1,240 (+4%)	2mo	$140,000	$113	74
2200 W Memorial Dr	0.27mi	2/1.0	1,341 (+12%)	2mo	$63,000	$47	65
1913 W 10th St	0.29mi	2/1.0	1,052 (-12%)	4mo	$95,000	$90	63
2405 W 10th St	0.21mi	3/1.0 (+1)	1,056 (-12%)	7mo	$25,500	$24	60
2003 S Phillip Dr	0.49mi	3/1.0 (+1)	1,100 (-8%)	3mo	$125,000	$114	56
2233 W 11th St	0.24mi	3/1.5 (+1)	1,034 (-14%)	4mo	$125,000	$121	56
1514 W Memorial Dr	0.50mi	2/1.5	1,056 (-12%)	1mo	$85,000	$80	55
2708 W 8th St	0.33mi	3/1.0 (+1)	1,040 (-13%)	7mo	$117,000	$113	53
1400 W 13th St	0.65mi	3/1.5 (+1)	1,124 (-6%)	0mo	$104,900	$93	52
910 S Umbarger Rd	0.63mi	2/1.0	1,310 (+10%)	6mo	$118,250	$90	50
409 S Celia Ave	0.62mi	3/1.0 (+1)	1,044 (-13%)	5mo	$126,000	$121	40

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: 2.6%
• Equity multiple: 1.11×
• Total profit: $2,499
• Equity at exit: $12,674

10-year hold

• IRR: 15.0%
• Equity multiple: 2.39×
• Total profit: $33,154
• Equity at exit: $7,349

Cash invested: $23,800 (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: 7.1×

Monthly cashflow live

• Estimated rent: $1,002 high
• Mortgage (P&I): −$446
• Tax from tax record: −$106 /mo · $1,274/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$210
• Net cashflow: $204

Break-even live

Break-even rent $743

Max offer price $85,000

Occupancy floor 75%

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: $21,250
• Closing costs: $2,550
• Reserves months: —
• Total cash needed: —

Rent comps 35 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2015 W Godman Ave Muncie, IN	2.0	1.0	900	$985	$1.09	44d	7	0.45mi
2800 W Memorial Dr Muncie, IN	3.0	2.0	1216	$1,139	$0.94	44d	1	0.48mi
1704 W 15th St Muncie, IN	3.0	1.0	1026	$1,275	$1.24	44d	1	0.59mi
309 S McKinley Ave Muncie, IN	2.0	1.0	875	$1,100	$1.26	44d	1	0.65mi
1719 W Adams St Muncie, IN	2.0	1.0	1159	$1,000	$0.86	44d	1	0.69mi
2106 W Main St Muncie, IN	3.0	1.0	1036	$1,209	$1.17	44d	1	0.77mi
106 N McKinley Ave Muncie, IN	2.0	1.0	996	$1,024	$1.03	44d	2	0.82mi
1409 W Jackson St Muncie, IN	2.0	1.0	811	$844	$1.04	44d	1	0.84mi
1001 W 1st St Unit 1 Muncie, IN	3.0	1.5	1098	$875	$0.80	44d	1	0.87mi
216 N McKinley Ave Muncie, IN	1.0–2.0	1.0	679	$825	$1.22	44d	3	0.88mi
815 W Memorial Dr Muncie, IN	2.0	1.0	800	$750	$0.94	44d	1	0.94mi
1609 S Gharkey St Muncie, IN	2.0	1.0	744	$750	$1.01	44d	1	0.96mi
810 W 1st St Muncie, IN	1.0	1.0	980	$599	$0.61	44d	1	0.97mi
402 N Calvert St Muncie, IN	2.0	1.0–1.5	720	$899	$1.25	44d	5	1.01mi
509 W 8th St Muncie, IN	3.0	1.0	1008	$1,325	$1.31	44d	1	1.08mi
1501 W University Ave Muncie, IN	2.0–3.0	1.0	794	$900	$1.13	44d	1	1.10mi
907 W Main St Apt 1 Muncie, IN	2.0	1.0	750	$775	$1.03	44d	1	1.13mi
519 N Dill St Muncie, IN	1.0–2.0	1.0	900	$1,125	$1.25	44d	7	1.13mi
906 W Main St Muncie, IN	1.0–2.0	1.0	712	$995	$1.40	44d	3	1.14mi
415 W 9th St Muncie, IN	2.0	1.0	705	$925	$1.31	44d	1	1.15mi
417 S Council St Muncie, IN	3.0	1.0	1132	$1,025	$0.91	44d	1	1.17mi
319 W 10th St Muncie, IN	2.0	1.0	869	$885	$1.02	44d	1	1.22mi
514 W Charles St Muncie, IN	2.0	1.0	1062	$800	$0.75	44d	1	1.22mi
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
412 W Howard St Muncie, IN	3.0	1.0	1300	$1,000	$0.77	44d	1	1.25mi
522 W Adams St Muncie, IN	2.0	1.0	750	$810	$1.08	44d	6	1.25mi
626 W Main St Muncie, IN	1.0	1.0	738	$715	$0.97	44d	2	1.25mi
301 W 13th St Muncie, IN	1.0–2.0	1.0	725	$844	$1.16	44d	1	1.28mi
326 W Charles St Muncie, IN	2.0	1.0	836	$1,300	$1.56	44d	1	1.31mi
206 W 13th St Muncie, IN	2.0	1.0	992	$900	$0.91	44d	1	1.32mi
1525 S Walnut St Unit 11 Muncie, IN	2.0	1.0	800	$775	$0.97	44d	1	1.34mi
816 N New York Ave Muncie, IN	3.0–4.0	1.0	1200	$1,000	$0.83	44d	10	1.39mi
400 W Washington St Unit 213 Muncie, IN	2.0	2.0	1009	$1,200	$1.19	44d	1	1.41mi
400 W Washington St Unit 101 Muncie, IN	1.0	1.0	700	$1,050	$1.50	44d	1	1.41mi

Listing history 19 events

1. 2026-05-18
   status Pending 549-char remark

   Show marketing remark (549 chars)

   SUPER NICE INVESTMENT PROPERTY! This 2 Bedroom 1 bath home has several updates and offers a great floor plan. You will love the LVP flooring throughout. Enjoy a large living room, dining area, breakfast nook and 2 spacious bedrooms. There is a basement for extra storage and all appliances are included. Plenty of off street parking in the back. A lease is currently in place until 7/25/26. Rental amount is $925 monthly and tenant pays utilities. Convenient location not far from BSU and the Hospital. Lots of charm! A great house at a great price!

2. 2026-05-18
   status Pending 550-char remark

   Show marketing remark (549 chars)

   SUPER NICE INVESTMENT PROPERTY! This 2 Bedroom 1 bath home has several updates and offers a great floor plan. You will love the LVP flooring throughout. Enjoy a large living room, dining area, breakfast nook and 2 spacious bedrooms. There is a basement for extra storage and all appliances are included. Plenty of off street parking in the back. A lease is currently in place until 7/25/26. Rental amount is $925 monthly and tenant pays utilities. Convenient location not far from BSU and the Hospital. Lots of charm! A great house at a great price!

3. 2026-05-08
   listed $85,000 Active 549-char remark

   Show marketing remark (549 chars)

   SUPER NICE INVESTMENT PROPERTY! This 2 Bedroom 1 bath home has several updates and offers a great floor plan. You will love the LVP flooring throughout. Enjoy a large living room, dining area, breakfast nook and 2 spacious bedrooms. There is a basement for extra storage and all appliances are included. Plenty of off street parking in the back. A lease is currently in place until 7/25/26. Rental amount is $925 monthly and tenant pays utilities. Convenient location not far from BSU and the Hospital. Lots of charm! A great house at a great price!

4. 2026-05-08
   listed $85,000 Active 550-char remark

   Show marketing remark (549 chars)

   SUPER NICE INVESTMENT PROPERTY! This 2 Bedroom 1 bath home has several updates and offers a great floor plan. You will love the LVP flooring throughout. Enjoy a large living room, dining area, breakfast nook and 2 spacious bedrooms. There is a basement for extra storage and all appliances are included. Plenty of off street parking in the back. A lease is currently in place until 7/25/26. Rental amount is $925 monthly and tenant pays utilities. Convenient location not far from BSU and the Hospital. Lots of charm! A great house at a great price!

5. 2025-11-21
   historical $925
6. 2025-11-01
   listed $925
7. 2023-05-27
   historical
8. 2023-04-05
   soldstatus $70,000 Closed

   Show marketing remark (441 chars)

   2 bedroom 1 bath home completely updated and move in ready! This is a great opportunity to own a renovated home at an affordable price, great for a homeowner or investor. Located right off Batavia, there is quick access to BSU/IU Health and to 67 S to I-69. This home features lots of character including built in cabinets that divide the living room from the dining room. There is also a breakfast nook area in the kitchen. Large bedrooms.

9. 2023-02-25
   status Pending

   Show marketing remark (441 chars)

   2 bedroom 1 bath home completely updated and move in ready! This is a great opportunity to own a renovated home at an affordable price, great for a homeowner or investor. Located right off Batavia, there is quick access to BSU/IU Health and to 67 S to I-69. This home features lots of character including built in cabinets that divide the living room from the dining room. There is also a breakfast nook area in the kitchen. Large bedrooms.

10. 2023-02-15
    status Active

    Show marketing remark (441 chars)

    2 bedroom 1 bath home completely updated and move in ready! This is a great opportunity to own a renovated home at an affordable price, great for a homeowner or investor. Located right off Batavia, there is quick access to BSU/IU Health and to 67 S to I-69. This home features lots of character including built in cabinets that divide the living room from the dining room. There is also a breakfast nook area in the kitchen. Large bedrooms.

11. 2023-01-26
    status Pending

    Show marketing remark (441 chars)

    2 bedroom 1 bath home completely updated and move in ready! This is a great opportunity to own a renovated home at an affordable price, great for a homeowner or investor. Located right off Batavia, there is quick access to BSU/IU Health and to 67 S to I-69. This home features lots of character including built in cabinets that divide the living room from the dining room. There is also a breakfast nook area in the kitchen. Large bedrooms.

12. 2023-01-19
    listed $69,900 Active

    Show marketing remark (441 chars)

    2 bedroom 1 bath home completely updated and move in ready! This is a great opportunity to own a renovated home at an affordable price, great for a homeowner or investor. Located right off Batavia, there is quick access to BSU/IU Health and to 67 S to I-69. This home features lots of character including built in cabinets that divide the living room from the dining room. There is also a breakfast nook area in the kitchen. Large bedrooms.

13. 2022-11-10
    soldstatus $27,000 Closed
14. 2022-10-24
    status Pending
15. 2022-10-21
    price $34,900
16. 2022-10-19
    status Active
17. 2022-09-07
    status Pending
18. 2022-08-16
    price $37,500
19. 2022-07-08
    listed $44,900 Active

ⓘ 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: $1,274 · $106/mo
• Projected year-2 tax: $1,274 · $106/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: $12,028
• − Mortgage interest: −$4,761
• − Property taxes: −$1,274
• − Insurance: −$425
• − Repairs & maintenance: −$962
• − Management: −$962
• − Depreciation: −$2,473
• Taxable income: $1,170
• Est. tax owed @ 24.0%: −$281
• After-tax cash flow: $2,173/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

+73.7% since first listed

21 events — show timeline

• 2026-06-16 Sold (MLS) $78,000 MIBOR as Distributed by MLS Grid
• 2026-06-16 Sold (MLS) $78,000 IRMLS
• 2026-05-18 Pending — IRMLS
• 2026-05-18 Pending — MIBOR as Distributed by MLS Grid
• 2026-05-08 Listed $85,000 MIBOR as Distributed by MLS Grid
• 2026-05-08 Listed $85,000 IRMLS
• 2025-11-21 Rental Removed $925 APPFOLIO
• 2025-11-01 Listed for Rent $925 APPFOLIO
• 2023-05-27 Rental Removed — RENT.
• 2023-04-05 Sold (MLS) $70,000 IRMLS
• 2023-02-25 Pending — IRMLS
• 2023-02-15 Relisted — IRMLS
• 2023-01-26 Pending — IRMLS
• 2023-01-19 Listed $69,900 IRMLS
• 2022-11-10 Sold (MLS) $27,000 IRMLS
• 2022-10-24 Pending — IRMLS
• 2022-10-21 Price Changed $34,900 IRMLS
• 2022-10-19 Relisted — IRMLS
• 2022-09-07 Pending — IRMLS
• 2022-08-16 Price Changed $37,500 IRMLS
• 2022-07-08 Listed $44,900 IRMLS

Property tax history

+37.6%/yr

Latest (2024): $1,274 · +10.3% YoY. Source: county tax records.