Great property to add to or jump start your rental portfolio or for a first time home buyer. Single Family ranch style home with brick exterior. Located in Muncie, Indiana just minutes from Ball State University. Features large 2 car attached garage, fenced yard, 3 bedrooms and 1 1/2 bath. Nice size back yard for the kids or just a social gathering. This unique property is perfect for any home buyer or investor. Waiting for you to restore it to its former glory. Won't Last Long At This Price! Rents/Cash Flows: * HotPads Shows a number in the area that range between $550 to $750 * RentOMeter.com shows 35 3 bedroom rentals within a .91 mile radius with an average rent of $640 and median of $430. * Zilow shows 3 bedroom Rentals at $785 in this area. * 2012 Net Assessed Tax Value shows $88,400. * Current records show an annual assessed tax of $734. Rental Analysis: Using a blended rate of $655/mo. from these source's with the Industry standard Fannie Mae formula of Rents times 75% (or using a 25% expense ratio to cover vacancy, rates, maintenance, replacement, reserves, property mgt. and other expenses) then subtracting out PITI ) Principle, Interest, Taxes and Insurances) based on a 30 yr. fixed rate at 5.5% this yields a possible projected cash flow would be about $218/mo. Today's market conditions ARV's often difficult to interpret and are highly subjective. Using InvestWay comparables there are solds with an average of $117,725, median prices of $116,500 and Highs of $134,900 leading to a very conservative estimated value of $116,928 depending on the rehab finish. If approaching the property purely has a rental we would recommend a more conservative rehab for strong rentals of $655+ and a estimated property value of $90,000. This Information Deemed Reliable But Not Guaranteed. DO YOUR OWN DUE DILIGENCE BEFORE you make ANY offer. ATTENTION: This is a Wholesale Deal that uses an Assignment of Contract rights to EndBuyer.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
