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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
Rental property for sale in Muncie at 1603 S Ribble Ave, Muncie, IN, 47302 priced at $109,000 converts $848/mo rent into $193/mo cash flow after a $534/mo obligation. Total monthly income equals $848/mo, and annual cash flow totals $2,318/yr on $36,134 invested. Return on cash invested prints 26.32% in year one, and rental yield reads 9.34% against a $109,000 entry. Equity gained on principal adds $703/yr, while 5% annual appreciation compiles into $30,115 by year five. Five-year ROI reaches 137.12% and total cumulative return in cash sums $49,546. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $848/mo property income covering a $534/mo payment, not borrower’s personal income.
Single Family
Built in 1905
0.52 Acres lot
$N/A/sqft
No HOA
Neighborhood data shown for ZIP Code: 47302, Muncie, IN area.
| Category | Value |
|---|---|
| Total HU (Housing Units) | 12,894 (100%) |
| Owner Occupied HU | 7,150 (55.5%) |
| Renter Occupied HU | 3,985 (30.9%) |
| Vacant Housing Units | 1,759 (13.6%) |
| Median Home Value | $89,088 |
| Average Home Value | $153,660 |
Residential
11,508
Single Family
11,429
Multi-Family
79
Businesses
580
Date | Event | Price |
|---|---|---|
| 2025-04-06 | Listed for sale | $109,000 |
| 2023-06-28 | Sold | $62,900 |
| 2023-02-28 | Sold | $51,350 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-04-08 | $863.96 | 6.79% | $85,700 | 13.66% |
| 2023-04-08 | $809.00 | 16.40% | $75,400 | 6.95% |
| 2022-04-08 | $695.00 | 11.89% | $70,500 | 18.09% |
Listed by: Taylor Licht • RE/MAX Complete
Mls Name: IRMLS
Mls Provider:
Mls ID: #202511573
Disclaimer: IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.
