5 UNITS, THREE ARE CASH FLOWING, IN COLLEGE TOWN
1512 and 1516 E Andover Ave, 1303 S Elm Street,
1315 S May Ave Muncie, IN
$230k OBO
1512 and 1516 E Andover are both 1/1 SFHs side by side on one parcel of land. 1512, newly renovated on the inside, is cash flowing and 1516 will need about $10k in work to be rent ready. 1303 S Elm St is a renovated duplex one unit is a 4/2 and the other unit is a 1/1. The tenant in the larger unit was placed temporarily, both units will be vacant at the end of May, allowing an opportunity to significantly increase rent for this property. 1315 S May Ave will need a new roof and some interior lipstick in order to be rent ready. According to Rentometer, average monthly rental income for these properties is $4936!!!
1512 and 1516 EAST ANDOVER AVENUE MUNCIE, IN 47303
SIDE BY SIDE SFH RENTALS ON ONE PARCEL
UNBELIEVABLE ROI – 2 properties on 1 parcel, each with a gravel driveway and storage barn, only 10 minutes from Ball State University! These 1/1 houses have had preventative termite treatment, some new windows, and a new water line in 2013. The 1512 E Andover Ave property was recently rehabbed and 1516 only needs a fresh coat of paint inside, new flooring, and a new heat source to be rent ready. 1512 is cash flowing. Tenant pays $600, which is below market, plus utilities. Average monthly rent potential for a 1/1 in this area per Rentometer is $786! Electric meters are separate. Water, sewer and gas meters are shared. Properties are currently being professionally managed. These will not last long!
CLICK HERE FOR ADDITIONAL PICTURES AND A VIDEO: Pics 1512 and 1516 Andover Ave – Google Drive
Click here for Rentometer details: 20250209-Rentometer-1512_E_Andover_Ave_Muncie_IN_47303_USA-1-bed-of8cX8A5Ck0.pdf – Google Drive
1303 S ELM STREET MUNCIE, IN 47302
DUPLEX CASH FLOWING $1425
This 1797’ MFH features 2 units, one is a 4/2 and the other is 1/1. This property has been renovated. Current rent for 4/2 is $925 and 1/1 is $500 plus utilities. Please note that both units are significantly below avg market rent. The tenant in the 4/1 was temporarily moved to this property and lease expires at end of May and other tenant will also be out, allowing an opportunity to significantly increase cash flow. Rentometer has average rent for a 4/2 in this area as $1527 and $740 for a 1/1.
FOR ADDITIONAL PICS, PLEASE CLICK HERE: Pics 1303 S Elm St Muncie, IN – Google Drive
1315 S MAY AVENUE MUNCIE, IN 47302
VACANT 3/1 SFH AVG RENT $1097
This 3/1 SFH . Rentometer has a large front room, dining room, attached 1 car garage and the entire front yard is fenced in. There is some new flooring and paint. According to Rentometer, average rent for a 3/1 in this area as $1097, however, there is room for an additional bathroom which would increase potential average monthly income to $1203. This property needs a new roof and cosmetic attention.
FOR ADDITIONAL PICS, PLEASE CLICK HERE: Pics 1315 S May St Muncie, IN – Google Drive
| Address | City | Type | Beds/ Baths | Rent per unit | Total rent | Ave mkt rent | Yearly taxes |
| 1315 S May Ave | Muncie | Single | 3/1 | Vacant | Vacant | $1,097 | $542 |
| 1512 and 1516 E Andover | Muncie | 2 x SFH’s* | 2 x 1/1 | $600, Vacant | $600, Vacant | 2 x $786 | $630 |
| 1303 S Elm St | Muncie | Duplex | 4/2 , 1/1 | $925, $500 | $1,425 *** | $1527, $740 | $1,137 |
| * 2 SFH’s on one parcel of land | |||||||
| ** Unit has 1 full and two half baths | |||||||
| *** Both Elm Street Tenants will be out by end of May. | |||||||
| All tenants pay rent and utilities | |||||||
| All properties are professionally managed | |||||||