NOT LISTED FOR SALE

1506 E Main St Muncie, IN 47305

East Central Neighborhood

Estimated Value: $59,000 - $84,000

4 Beds
2 Baths
1,944 Sq Ft
$37/Sq Ft Est. Value

Last Sold July 31, 2024

Last sale price $57,000 $29 Per Sq Ft

Est. 25% increase in value since last sale

Current estimated payment $482/month

45 Days on Market

Highlights

  • Lake Property
  • 1 Car Detached Garage
  • Laundry in Utility Room
  • Covered Patio or Porch
  • Eat-In Kitchen
  • 4-minute walk to Hughes Nature Preserve

About This Home

As of July 2024

Investors, here’s a great opportunity to check out this property needs work, and is ready to fix and flip! This property was once a single family home and converted to a 2 unit property. These 2 units were recently rented for $500 and $700 per month, tenants pay utilities. Separate electric and gas meters. Each unit has 2 bedrooms, 1 bathroom, living room, and kitchen. The downstairs unit also has access to the basement with washer and dryer hookups. Detached garage has 2 separate sides.

Last Agent to Sell the Property

Melanie White

Berkshire Hathaway Indiana Realty Brokerage Phone: 765-881-5451 Listed on: 05/03/2024

Berkshire Hathaway Indiana Realty

Last Buyer's Agent

Grant Gorman

Green Forest Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $1,068

Year Built

  • Built in 1900

Lot Details

  • 6,250 Sq Ft Lot
  • Lot Dimensions are 50x125

Home Design

  • Duplex
  • Shingle Roof
  • Wood Siding
  • Shingle Siding
  • Vinyl Construction Material

Interior Spaces

  • 2-Story Property
  • Eat-In Kitchen
  • Laundry in Utility Room
  • Unfinished Basement

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Full Bathrooms

Parking

  • 1 Car Detached Garage
  • Off-Street Parking

Outdoor Features

  • Lake Property
  • Covered Patio or Porch

Schools

  • East Washington Academy Elementary School
  • Northside Middle School
  • Central High School

Additional Features

  • Suburban Location
  • Forced Air Heating and Cooling System

Listing and Financial Details

  • Tenant pays for electric
  • The owner pays for tax
  • Assessor Parcel Number 18-11-10-492-007.000-003

Community Details

Overview

  • 2 Units

Building Details

  • 2 Separate Electric Meters
  • 2 Separate Gas Meters

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$1,068

Year Built

Built in 1900

Lot Details

0

Listing Details

  • Class: INVESTMENT
  • Property Sub Type: Duplex
  • Year Built: 1900
  • Age: 124
  • Style: Two Story
  • Bedrooms: 4
  • Number Above Grade Bedrooms: 4
  • Total Bathrooms: 2
  • Total Full Bathrooms: 2
  • Legal Description: THK ADD BLK 8 LOT 7
  • Parcel Number ID: 18-11-10-492-007.000-003
  • Platted: Yes
  • Amenities: Basement, Eat-In Kitchen, Porch Covered
  • Location: City/Town/Suburb
  • Sp Lp Percent: 87.83
  • Year Taxes Payable: 2024
  • Special Features: None

Interior Features

  • Total Sq Ft: 2964
  • Total Finished Sq Ft: 1944
  • Above Grade Finished Sq Ft: 1944
  • Below Grade Sq Ft: 1020
  • Price Per Sq Ft: 29.32
  • Basement: Yes
  • Basement Foundation: Unfinished
  • Flooring: Mixed
  • Main Level Sq Ft: 1020
  • Total Below Grade Sq Ft: 1020

Exterior Features

  • Exterior: Shingle, Vinyl, Wood
  • Roof Material: Shingle
  • Stories: 2

Garage/Parking

  • Number Of Parking Spaces: 2
  • Parking: Off Street

Utilities

  • Cooling: Central Air
  • Heating Fuel: Forced Air
  • Sewer: Public
  • Water Utilities: Public
  • Electric Company: AEP/I&M
  • Water Company: Indiana American Water Co
  • Number Electric Meters: 2
  • Number Gas Meters: 2

Schools

  • School District: Muncie Community Schools
  • Elementary School: East Washington Academy
  • Middle School: Northside
  • High School: Central
  • Elementary School: East Washington Academy

Lot Info

  • Lot Description: Lake
  • Lot Dimensions: 50x125
  • Estimated Lot Sq Ft: 6250
  • Estimated Lot Size Acres: 0.14
  • Lot Number: 7
  • Expiration Of Permit: 05/01/2024

Rental Info

  • Owner Pays: Tax
  • Tenant Pays: Electric

Tax Info

  • Annual Property Tax: 1068

Multi Family

  • Number Of Units: 2
  • Num Of2 Bedrooms: 2

MLS Schools

  • High School: Central
  • Middle School: Northside
  • School District: Muncie Community Schools

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
May 3, 2024
Closed on
Jul 29, 2024
Sold by
T And Y Investments Llc
Bought by
Mgam Props Llc
Seller's Agent
Melanie White
Berkshire Hathaway Indiana Realty
Buyer's Agent
Grant Gorman
Green Forest Realty
List Price
$68,900
Sold Price
$57,000
Premium/Discount to List
-$11,900
-17.27%
Views
60
Current Estimated Value
$71,204

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$14,204
Avg. Annual Appreciation
22.20%
Original Mortgage
$62,000
Outstanding Balance
$60,371
Interest Rate
6.86%
Mortgage Type
Credit Line Revolving
Estimated Equity
$10,833

Purchase Details

Listed on
Feb 27, 2019
Closed on
May 22, 2019
Sold by
Tyo Llc
Bought by
T & Y Investments Llc
Seller's Agent
Jen Benavides
Viking Realty
Buyer's Agent
Daniel Norton
CPC Real Estate, LLC
List Price
$25,000
Sold Price
$48,445
Premium/Discount to List
$23,445
93.78%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
3.13%

Purchase Details

Listed on
Feb 27, 2019
Closed on
Apr 23, 2019
Sold by
Yu Su Zhen
Bought by
Tyo Llc
Seller's Agent
Jen Benavides
Viking Realty
Buyer's Agent
Daniel Norton
CPC Real Estate, LLC
List Price
$25,000
Sold Price
$48,445
Premium/Discount to List
$23,445
93.78%

Purchase Details

Closed on
Feb 6, 2019
Sold by
Rood George G
Bought by
Yu Su Zhen

Purchase Details

Closed on
Jul 6, 2017
Sold by
Zheng Dan
Bought by
Rood Ii George G

Purchase Details

Closed on
Sep 24, 2007
Sold by
Liu Yan Hua
Bought by
Liu Yan Hau and Zheng Hui

Purchase Details

Closed on
Jul 19, 2006
Sold by
Bohanon Vince M
Bought by
Liu Yan Hua

Purchase Details

Closed on
Jun 6, 2006
Sold by
Stockton Clint A
Bought by
Bohanon Vince M

Purchase Details

Closed on
Aug 12, 2005
Sold by
Bohanon Vince M
Bought by
Stockton Clint A

Purchase Details

Closed on
May 6, 2005
Sold by
Minnestoa Wells Fargo
Bought by
Boohanon Vince M
Source: Public Records

Range of Values:

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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Mgam Props Llc -- None Listed On Document
T & Y Investments Llc -- None Available
Tyo Llc -- None Available
Yu Su Zhen -- None Available
Rood Ii George G -- --
Liu Yan Hau -- None Available
Liu Yan Hua -- None Available
Bohanon Vince M -- None Available
Stockton Clint A -- None Available
Boohanon Vince M -- Investors T Itlcorp
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Mgam Props Llc $62,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
07/31/2024 07/31/24 Sold $57,000 -12.2% $29 / Sq Ft
06/17/2024 06/17/24 Pending -- -- --
06/12/2024 06/12/24 Price Changed $64,900 -5.8% $33 / Sq Ft
05/03/2024 05/03/24 For Sale $68,900 +42.2% $35 / Sq Ft
04/23/2019 04/23/19 Sold $48,445 +93.8% $25 / Sq Ft
03/18/2019 03/18/19 Pending -- -- --
02/27/2019 02/27/19 For Sale $25,000 -- $13 / Sq Ft
Source: Indiana Regional MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $1,158 $52,500 $2,600 $49,900
2023 $1,068 $48,000 $2,600 $45,400
2022 $866 $37,900 $2,600 $35,300
2021 $806 $34,900 $2,700 $32,200
2020 $1,134 $51,300 $5,400 $45,900
2019 $885 $51,300 $5,400 $45,900
2018 $885 $51,300 $5,400 $45,900
2017 $882 $51,100 $5,400 $45,700
2016 $1,130 $51,100 $5,400 $45,700
2014 $1,093 $52,500 $10,200 $42,300
2013 -- $52,100 $10,200 $41,900
Source: Public Records

Agents Affiliated with this Home

  • Melanie White

    Seller's Agent in 2024

    Melanie White

    Berkshire Hathaway Indiana Realty

    (765) 881-5451

    2 in this area

    45 Total Sales

    Melanie White
    Section Image
  • Grant Gorman

    Buyer's Agent in 2024

    Grant Gorman

    Green Forest Realty

    (765) 635-4555

    3 in this area

    196 Total Sales

    Grant Gorman
    Section Image

  • J

    Seller's Agent in 2019

    Jen Benavides

    Viking Realty

    Section Image

  • D

    Buyer's Agent in 2019

    Daniel Norton

    CPC Real Estate, LLC

    Section Image
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Map

Source: Indiana Regional MLS

MLS Number: 202415430

Indiana Regional MLS

APN: 18-11-10-492-007.000-003

Indiana Delaware County Muncie 47305 East Central

1506 E Main St, Muncie, IN

This home is located at 1506 E Main St, Muncie, IN 47305 since 03 May 2024 and is currently estimated at $71,204, approximately $36 per square foot. This property was built in 1900. 1506 E Main St is a home located in Delaware County with nearby schools including East Washington Academy, Muncie Central High School, and Northside Middle School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Indiana Regional MLS IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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