400 E Charter DrMuncieIN47303
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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
Investment Highlights
Rental property for sale in Muncie at 400 E Charter Dr, Muncie, IN, 47303 priced at $284,900 converts $2,110/mo rent into $380/mo cash flow after a $1,394/mo obligation. Total monthly income equals $2,110/mo, and annual cash flow totals $4,563/yr on $94,444 invested. Return on cash invested prints 24.74% in year one, and rental yield reads 8.89% against a $284,900 entry. Equity gained on principal adds $1,838/yr, while 5% annual appreciation compiles into $78,713 by year five. Five-year ROI reaches 128.62% and total cumulative return in cash sums $121,475. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $2,110/mo property income covering a $1,394/mo payment, not borrower’s personal income.
Single Family
Built in 2022
6,534 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47303, Muncie, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 11,763 (100%) |
| Owner Occupied HU | 5,209 (44.3%) |
| Renter Occupied HU | 5,107 (43.4%) |
| Vacant Housing Units | 1,447 (12.3%) |
| Median Home Value | $126,994 |
| Average Home Value | $156,121 |
Housing Distribution
Address Breakdown
Residential
10,581
Single Family
9,579
Multi-Family
1,002
Businesses
776
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Listed by: Steve Masuccio • CENTURY 21 Scheetz
Mls Name: MIBOR as distributed by MLS GRID
Mls Provider:
Mls ID: #22034748
Disclaimer: Based on information submitted to the MLS GRID as of 2025-04-25 07:38:05 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/mls-disclaimers/#48)