2407 E 16th St, Muncie, IN, 47302 | $614/mo Cash Flow

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2407 E 16th St, Muncie, IN, 47302 | $614/mo Cash Flow | Ziffy

For Sale

Ziffy Mortgage

NMLS #2625701

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Ziffy AI Summary

A quick, investor-focused snapshot highlighting income strength, yield potential.

Key metrics	Value
Price	$399,900
Est. Rent	$3,200/mo
ROI	18%

Attractive rent-to-price ratio for income stability
Good fit for DSCR financing with healthy coverage

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Investment Highlights

Investment property for sale in Muncie at 2407 E 16th St, Muncie, IN, 47302 earns $614/mo cash flow from $1,454/mo rent with a $685/mo payment. Total monthly income totals $1,454/mo, and annual cash flow totals $7,367/yr on $46,377 capital. ROI tracks 35.79% on current figures, and rental yield reads 12.47% at a $139,900 purchase. Equity gained on principal adds $903/yr, and 5% annual appreciation supports $38,652 over five years. Five-year ROI reaches 187.78% and total cumulative return in cash sums $87,087. Financing can be set up with Ziffy Mortgage’s DSCR loan, which is driven by $1,454/mo property income instead of your personal income.

Single Family

Built in 1900

0.80 Acres lot

$N/A/sqft

No HOA

More details about the property

If you're looking for home that has a place for a MIL quarters or a rental space, you won't want to miss this gem right across from the Cardinals Greenway Project. This home sits on .80 acres, is remodeled and has a huge 4 car detached garage. Some of the updates include, 3 new full baths, all new flooring, new plumbing, 3 new window units, new lighting, and new paint. The lot is huge and won't disappoint. On the main level you'll find 3 bedrooms, 2 full baths, a generous pantry, dining room, great room and living room. Upstairs boasts another kitchen, full bath, bedroom, living room and office. Upstairs has a side, private entry to use however you'd like. Need a separate office space, rental space or mother-in-law quarters? Use as you wish!

Neighborhood Data

Neighborhood data shown for ZIP Code: 47302, Muncie, IN area.

Housing Distribution

Housing Statistics

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