Price Drop!
Now ONLY $50k Buy & Hold 3 Miles from University!
2014 S High St Muncie, IN
$50,000
This 880 sq ft bungalow with a one car garage is located only 3 miles from Ball State University. This neighborhood value is increasing as many homes are being renovated. This home could either be a 2 bedroom with a huge walk-in closet, 2 bedroom/2 full bathroom or a 3 bedroom/1 bath home. The master bedroom has a closet and a door which leads to an additional room which could be used for storage, converted to an additional full bathroom or as a 3rd bedroom by drywalling the door from the master and adding a door in the utiity room. Per the owner, the roof is 13 yrs old and both furnace and hot water heaters are about 11 years old.
You will get the most bang for your buck as a rental. As a 2/1 rental, the avg monthly anticipated rent per Rentometer is $908, as a 2/2 it increases to an avg rent of $1128 and as a 3/1 avg rent would be increased to $1168 plus additional rent could be charged for the use of the garage. The siding is very ugly but does not affect the integrity of the house. Carpet is in decent shape so this could be rented by just repainting. However, to maximize rental amount, some cosmetic work and updating might be beneficial.
Another option is investing in this property as a fix and flip. Some easy cosmetic enhancements such as new siding on garage/house, and inside fresh paint/new flooring along with a few updates and this will be ready for market. ARV is around $112,904.
Click here for additional photos and video: Pics 2014 S High St Muncie, IN – Google Drive
ARV Comps: