NOT LISTED FOR SALE

1606 1606.5 S Walnut St Muncie, IN 47302

South Central Neighborhood

Estimated Value: $37,000 - $73,705

4 Beds
2 Baths
1,518 Sq Ft
$34/Sq Ft Est. Value

Last Sold October 24, 2023

Last sale price $30,000 $20 Per Sq Ft

Est. 74% increase in value since last sale

Current estimated payment $367/month

117 Days on Market

About This Home

As of October 2023

This duplex offers an excellent opportunity for investors looking for a great investment property! Each unit is 2-bedroom and 1 bath. The property boasts a large back yard with plenty of parking available. Some of the key highlights of this investment property is the potential for strong rental income in comparison to mortgage and located central in Muncie on a main road. Property is located 2 miles away from Ball State University. The affordability of these units makes them highly desirable for tenants and a big opportunity to help build equity and create cash flow. Please do not schedule a viewing until reading the full listing. This property has great potential, but will need a complete rehab that includes new kitchens, new bathrooms, new flooring, new cabinets, new appliances, new carpeting, etc. This property offers great potential for an owner with some sweat equity or a cash ready investor who can put time into rehabbing the property. This property is not currently rent ready, it will need to be repaired & refurbished. Please keep in note the utilities have currently been turned off to reduce operating costs.

Last Listed By

Heather Clemmons

Starr Real Estate LLC Brokerage Phone: 765-288-1711 Listed on: 06/21/2023

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1886

Lot Details

  • 4,290 Sq Ft Lot
  • Lot Dimensions are 33x130

Home Design

  • Duplex
  • Shingle Roof
  • Vinyl Construction Material

Interior Spaces

  • 1,518 Sq Ft Home
  • 1.5-Story Property
  • Crawl Space
  • Laminate Countertops

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Full Bathrooms

Parking

  • 2 Parking Spaces
  • Off-Street Parking

Schools

  • Southview Elementary School
  • Southside Middle School
  • Central High School

Additional Features

  • Suburban Location
  • Baseboard Heating

Listing and Financial Details

  • Tenant pays for electric, fuel, lawn maintenance, sewer, trash collection, water
  • The owner pays for tax
  • Assessor Parcel Number 18-11-15-355-002.000-003

Community Details

Overview

  • 2 Units

Pet Policy

  • Pet Restriction

Property Details

Home Type

Multi-Family

Year Built

Built in 1886

Lot Details

0

Listing Details

  • Class: INVESTMENT
  • Property Sub Type: Duplex
  • Year Built: 1886
  • Age: 137
  • Style: One and Half Story
  • Bedrooms: 4
  • Number Above Grade Bedrooms: 4
  • Total Bathrooms: 2
  • Total Full Bathrooms: 2
  • Legal Description: GRAY ADD N16 2 3FT OF23 S16 2 3FT O 0.0000ACRES STR: 152010 IN: 22-23 OUT:
  • Parcel Number ID: 18-11-15-355-002.000-003
  • Platted: Yes
  • Amenities: Countertops-Laminate, Deck Open
  • Location: City/Town/Suburb
  • Sp Lp Percent: 75.19
  • Year Taxes Payable: 2023
  • Special Features: None

Interior Features

  • Total Sq Ft: 1518
  • Total Finished Sq Ft: 1518
  • Above Grade Finished Sq Ft: 1518
  • Price Per Sq Ft: 19.76
  • Basement Foundation: Crawl
  • Flooring: Mixed

Exterior Features

  • Exterior: Vinyl
  • Roof Material: Shingle
  • Stories: 1.5

Garage/Parking

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

Utilities

  • Heating Fuel: Electricity, Baseboard
  • Sewer: City
  • Water Utilities: City

Condo/Co-op/Association

  • Pet Restrictions: Yes

Schools

  • School District: Muncie Community Schools
  • Elementary School: Southview
  • Middle School: Southside
  • High School: Central
  • Elementary School: Southview

Lot Info

  • Lot Description: 0-2.9999
  • Lot Dimensions: 33X130
  • Estimated Lot Sq Ft: 4290
  • Estimated Lot Size Acres: 0.1

Rental Info

  • Owner Pays: Tax
  • Tenant Pays: Electric, Fuel, Lawn Maintenance, Sewer, Trash Collection, Water

Tax Info

  • Annual Property Tax: 800

Multi Family

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

MLS Schools

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

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 21, 2023
Closed on
Oct 18, 2023
Sold by
Soto Weston and Zaragoza Alberto
Bought by
Eldeeb Ahmed
Seller's Agent
Heather Clemmons
Starr Real Estate LLC
Buyer's Agent
Heather Clemmons
Starr Real Estate LLC
List Price
$39,900
Sold Price
$30,000
Premium/Discount to List
-$9,900
-24.81%
Total Days on Market
117
Views
268
Current Estimated Value
$52,176

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$22,176
Avg. Annual Appreciation
35.41%

Purchase Details

Closed on
Nov 21, 2022
Sold by
Modifi Home Improvements Inc
Bought by
Zaragoza Alberto and Soto Weston

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$25,425
Interest Rate
7.13%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 9, 2009
Sold by
Gillentine Jeffery A and Mowell Russell A
Bought by
Modifi Home Improvements Inc

Range of Values:

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Average Value
Not Available
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
Eldeeb Ahmed $33,000 None Listed On Document
Zaragoza Alberto $33,900 --
Modifi Home Improvements Inc -- None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Zaragoza Alberto $25,425
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
10/24/2023 10/24/23 Sold $30,000 -24.8% $20 / Sq Ft
10/16/2023 10/16/23 Pending -- -- --
09/12/2023 09/12/23 For Sale $39,900 0.0% $26 / Sq Ft
08/23/2023 08/23/23 Pending -- -- --
08/03/2023 08/03/23 Price Changed $39,900 -7.0% $26 / Sq Ft
07/11/2023 07/11/23 For Sale $42,900 0.0% $28 / Sq Ft
06/26/2023 06/26/23 Pending -- -- --
06/21/2023 06/21/23 For Sale $42,900 -- $28 / 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 $934 $41,300 $4,300 $37,000
2023 $844 $36,800 $3,600 $33,200
2022 $792 $34,200 $3,600 $30,600
2021 $668 $28,000 $2,400 $25,600
2020 $698 $29,500 $3,900 $25,600
2019 $724 $30,800 $3,900 $26,900
2018 $724 $30,800 $3,900 $26,900
2017 $730 $31,100 $4,300 $26,800
2016 $730 $31,100 $4,300 $26,800
2014 $771 $36,400 $5,400 $31,000
2013 -- $36,100 $5,400 $30,700
Source: Public Records

Agents Affiliated with this Home

  • Heather Clemmons

    Seller's Agent in 2023

    Heather Clemmons

    Starr Real Estate LLC

    (765) 288-1711

    11 in this area

    500 Total Sales

    Heather Clemmons
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Map

Source: Indiana Regional MLS

MLS Number: 202321301

Indiana Regional MLS

APN: 18-11-15-355-002.000-003

Indiana Delaware County Muncie 47302 South Central

1606 1606.5 S Walnut St, Muncie, IN

Homes for Sale in Muncie, IN

This home is located at 1606 1606.5 S Walnut St, Muncie, IN 47302 since 21 June 2023 and is currently estimated at $52,176, approximately $34 per square foot. This property was built in 1886. 1606 1606.5 S Walnut St is a home located in Delaware County with nearby schools including South View Elementary School, Muncie Central High School, and Southside 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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