Listed by Ellsbury Group
$85,000
1709-1711 S Blaine Street
Details
APN 18-11-15-484-008.000-003
Property Type Multifamily
Sub Type Apartment Building
Units 3
Cap Rate 18.02%
NOI $15,320
Occupancy 100%
Tenancy Multi
Pro-Forma Cap Rate 22.59%
Pro-Forma NOI $19,200
Class C
Year Built 1890
Buildings 1
Stories 1
Lot Size (SqFt) 7,395
Multifamily | 3 Units | $28,333/unit
Marketing description
This asset is a triplex located in the Muncie, IN market. Positioned within an area where housing demand remains steady and rental affordability is a key driver for tenants; a triplex offers a balance between multi-unit income generation and manageable operational overhead.
Investment highlights
- Triplexes benefit from risk diversification; if one unit is vacant, the property still generates income from the remaining two units
- Muncie's cost of living is approximately 9% lower than the national average, helping tenant turnover lower as residents prioritize value
- Features potential for cosmetic or functional upgrades that can drive rents closer to the higher end of the market range.
Listing Contacts
Listed by Ellsbury Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$15,320.00
$1,276.67/mo
Valuation Metrics
0
DSCR
18.02%
Cap Rate
18.02%
ROI
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