Reduction on Renovated Cash-flowing Duplex in College Town!
1916 and 1916 ½ S Delawanda Avenue Muncie, IN
$107,500 OBO.
This adorable renovated 1420’ duplex built in 1953 is fully occupied, cash-flowing, and needs nothing! 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. Total rent for the duplex is $1655 which includes a fee for water, sewage and trash. This flat fee utility fee ended resulted in a net gain of $206.65 over the past year. Rent for the 2/1 is $795 and rent for the 1/1 is $860. This rent to purchase price provides 1.5% which BLOWS AWAY THE 1% RULE. Asking for a quick cash close only!
HUGE OPPORTUNITY TO INCREASE ROI EVEN MORE!!! The tenant paying $860 just signed another year’s lease and the other tenant whose lease expires at the end of December wants to sign another year’s lease allowing the opportunity to increase that rent to market rent of $995 plus fee for water, sewage, and trash. Both tenants pay their own gas and electric. Both tenants are under a one year lease. The property is currently being professionally managed.
Click here for additional photos and video: Pics 1916 1nd 1916 .5 Delawanda Ave – Google Drive