Double the 1% Rule on Cash-Flowing Triplex!
417,419,421 W 9th St Muncie, IN
ONLY $95,000 OBO!!!
Located only 2 miles from Ball State University, this 2016 sq ft triplex with parking on premises is fully occupied and offers a Fabulous ROI! The 2 bottom units have a shotgun layout meaning that upon opening the front door you can see from the front room, through the bedroom, through the kitchen to the backdoor with the bathroom off to the side of the backdoor. Upstairs features a typical layout running the entire length of both bottom units combined.
All units are cash-flowing below avg market rent rate paying $595 per month and owner pays utilities. One of the bottom units and the top units have leases expiring at the end of November and December allowing the ability to increase rents and have tenants pay for their own utilities. Cash-Flow can be increased to $2135 by the end of this year!!! Once all 3 units are paying market rent, Cash-Flow will be a Minimum of $2310!
As for repairs, property does have some items that will eventually need to be addressed including replacing some floor joists, replacing wood trim around windows and repairing an area in the foundation. A contractor has walked the property and has included a quote of $5,139 for all repairs.
Price plus repairs mean all in for only $100,139! Increase rents to minimum of $2100 by end of the year, MORE THAN DOUBLES THE 1% RULE!!! Please contact Lisa for additional information or to schedule an appointment. Please note walkthroughs will be limited in an attempt to reduce inconveniencing the tenants.
Please click here for quote details: 417 _ 419 _ 421 W 9TH ESTIMATE.pdf – Google Drive
Click here for additional photos and video: Pics 417 419 421 W 9th St – Google Drive
Click Here for Rental Rates: Rentometer 1/1 Rental Rates.pdf – Google Drive