1619 E 20Th St, Muncie, IN 47302

Home Description

Cash flowing 3 bed 2 bath home in Muncie's Southside. Update completed in 2022, new flooring in living room and kitchen, updated appliances, new carpet in bedrooms and fresh interior paint. Furnace and A/C less than 3 years old. This is a Section 8 property. Current rent is $995 a month with 25% down return is 8.5% annualized. $100 rent increase makes that return 13%. Proforma snapshot included in documents. Tenant pays all utilities. Economic growth remains steady with strong housing demand per Indiana Business review. The most recent forecast from Indiana University's Center for Econometric Model Research shows employment growth of 1.89% over the next two years (2023 Q4 to 2025 Q4). "Personal income is expected to increase 3.4% through 2027". Property is being offered as part of a 2 unit package, 2nd property is at 1618 E 24th. An additional 4 unit package is also available, addresses and financials included in attached documents. Attached pro formas are for 2 property package and 6 unit package. Attached photos were taken before property was rented. Seller will not work with wholesalers or consider creative finance options. For additional questions and to arrange showings reach out to listing agent. Proof of funds and 24hr notice required for all showings.