Fix/Flip or Buy/Hold 3/1 SFH $32,500
305 N Biltmore Ave Muncie, IN
This 912 sq ft 3/1 SFH can either be a fix and flip or a buy and hold. ARV in the area for a 3/1 is $96,722*. There is a new metal roof and a new wooden fence which encloses the backyard. Property also has a large eat-in kitchen and a small room containing mechanicals. Per the owner, the furnace was installed 15 years ago, but Sellers have been using a plug-in unit due to fall out between husband and gas company. Water heater is less than 5 years old. Most of the work needed is cosmetic. Siding needs to be completed, which owner claims to have. Floors are uneven but this is on a crawl, so access is available. The third bedroom needs a door and attention to the ceiling/wall where there was a leak prior to getting the new roof. Back steps need to be secured to the house. Inside needs to be painted. Per Rentometer, the avg rent for a 3/1 in this area is $1088 per month.
*Comps in Area. Please note that there were very few ARV comps for 3 bedrooms so 2 bedrooms were included in the comps. ARV for a 3 bedroom should be a little higher: mls_comp_20250527_100450.pdf – Google Drive
Click here for additional pictures: Pics 305 N Biltmore Ave – Google Drive