611 W Howard StMuncieIN47305
INVESTMENT ANALYSIS
Investment Verdict
Income-Producing611 W Howard St, Muncie, IN, 47305 in Muncie is a stable, well-positioned rental at $439,000. Rental yield 6.09%. DSCR 1.13 qualifies for Ziffy Mortgage's DSCR mortgage without U.S. income documentation. Over five years, 5% appreciation adds $121,288 in value and $4,043/yr in principal paydown builds equity, a total projected return of $140,052.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 6.1% | 6.8% |
| Monthly Cash Flow | $(406) | $450 |
City averages based on Muncie market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $2,230 |
| Total Monthly Debt Service | $2,461 |
| DSCR Ratio | 0.91x |
Ziffy Mortgage typically prefers a DSCR of 1.0+, but in some cases you may qualify with a DSCR below 1. To explore if this deal qualifies for an investment mortgage, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1900
0.56 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47305, Muncie, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,432 (100%) |
| Owner Occupied HU | 511 (21.0%) |
| Renter Occupied HU | 1,264 (52.0%) |
| Vacant Housing Units | 657 (27.0%) |
| Median Home Value | $72,209 |
| Average Home Value | $102,931 |
Housing Distribution
Address Breakdown
Residential
1,640
Single Family
1,471
Multi-Family
169
Businesses
368
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
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
Single Family
Built in 1900
0.56 Acres lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 47305, Muncie, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 2,432 (100%) |
| Owner Occupied HU | 511 (21.0%) |
| Renter Occupied HU | 1,264 (52.0%) |
| Vacant Housing Units | 657 (27.0%) |
| Median Home Value | $72,209 |
| Average Home Value | $102,931 |
Housing Distribution
Address Breakdown
Residential
1,640
Single Family
1,471
Multi-Family
169
Businesses
368
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Holly Thomas • Equity Partners
Mls Name: IRMLS
Mls Provider:
Mls ID: #202423217
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.