Buy Both Duplexes for Only $215k
Market Rent Potential for Both $4,247 per Month!
#1 Huge ROI on Buy & Hold Duplex 4 Miles from Ball State University
1916 and 1916 ½ S Delawanda Avenue Muncie, IN
$101,000
Back on Market, Buyer was a No Show at Closing. This is an adorable renovated 1420’ duplex built in 1953. The front unit is a 2/1 with a family room and huge eat in kitchen. The back unit is a 1/1. There is a shared utility room between the two units with mechanicals and a washer/dryer. This mfh is in great shape with very little to do other than collect rent.
The back unit is rented with an excellent long-term tenant paying $860 per month which includes a flat fee for water, sewage and trash. The larger front unit is now vacant. PropStream avg rent in this location for a 2/1 is $965. Therefore, TOTAL ANTICIPATED RENT IS $1825!!! Please note that the flat utility fee which was collected from both units resulted in a net gain of $206.65 over the past year. Tenants pay for all other utilities. Once the front unit is occupied at avg monthly market rent, this rent to purchase price will provide 1.8% which BLOWS AWAY THE 1% RULE!
An inspection, which was done in the fall, did not reveal any major concerns with the property and mechanicals and roof appeared to be in good working order. The property is currently being professionally managed. Since the tenants just moved out, the only immediate need is a fresh coat of paint and some minor cosmetic repairs. Asking for a quick cash close only!
Click here for additional photos and video: Pics 1916 1nd 1916 .5 Delawanda Ave – Google Drive
#2 Cash-Flowing Duplex in College Town
800 W Lindweth Place Muncie, IN
$120,000
This 2181 sq ft duplex has an attached garage and plenty of parking in front. The property is walking distance to the beautiful Minnetrista Museum and Gardens and less than 2 miles from Ball State University. One unit is a 3/1 cash-flowing $800 with a mo2mo tenant. The other unit is a 2/1.5 cash-flowing $775. This tenant just renewed their lease through the end of February 2027. Although Total Monthly Income is currently $1575, there is potential to increase your ROI even more!!! Per Rentometer avg monthly income in this area for a 3/1 should be $1236 and for a 2/1.5 should be $1136 providing an Average Total Monthly Potential of $2372. Taxes for Spring 24/25 and Fall 24/25 were each $778. This property is professionally managed.
Click here for additional photos and video: Pics 800 W Lindweth Pl Muncie, IN – Google Drive