616 E Charles StMuncieIN47305
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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 616 E Charles St, Muncie, IN, 47305 offers $1,800/mo rent that, after a $1,003/mo payment, leaves $570/mo cash flow. Total monthly income is $1,800/mo, and annual cash flow is $6,839/yr on $67,924 cash. Return on cash invested measures 29.98% in year one, and rental yield stands at 10.54% at a $204,900 entry. Equity gained on principal adds $1,322/yr while 5% annual appreciation compounds into $56,610 by year five. Five-year ROI records 156.6% and total cumulative return in cash reaches $106,366. Lending can use Ziffy Mortgage’s DSCR loan, which structures approval around $1,800/mo property income versus a $1,003/mo payment rather than borrower’s personal income verification through W2s, Salary slips, and Tax returns.
Single Family
Built in 1902
7,840 sqft 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
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