$235,000
SOLD FEB 8, 2016

2403 W Charles St Muncie, IN 47303

Westside Neighborhood
15 Beds
12 Baths
10,080 Sq Ft
0.38 Acres

Recently Sold

$23 Per Sq Ft

24% Below List Price

67 Days on Market

Highlights

  • 0.38 Acre Lot
  • Balcony
  • Entrance Foyer
  • Contemporary Architecture
  • Double Pane Windows
  • Forced Air Heating and Cooling System

About This Home

As of February 2021

First time available in over 35 years, this 12 Unit west side apartment building offers a solid investment return. Located near the commercial area of Tillotson Ave. and Jackson Street close to IU Hospital, Ball State University and Downtown. This property has been very well maintained with active ownership and management for over 35 years. Unit mix consists of 9 one bedroom apartments and 3 two bedroom apartments. This property is offered at an 9 cap rate on the average NOI for the past 3 years. Typical turnover of 3 units per year. 16 parking spaces. Each unit has balconies or patios with storage units.

Last Agent to Sell the Property

Brian Allardt

Coldwell Banker Real Estate Group Listed on: 11/05/2015

Coldwell Banker Real Estate Group

Last Buyer's Agent

Steve Robillard

RE/MAX Real Estate Groups

RE/MAX Real Estate Groups

Property Details

Home Type

  • Apartment

Year Built

  • Built in 1971

Lot Details

  • 0.38 Acre Lot
  • Level Lot
  • Irregular Lot

Home Design

  • Contemporary Architecture
  • Slab Foundation
  • Asphalt Roof
  • Cedar

Interior Spaces

  • 2-Story Property
  • Double Pane Windows
  • Entrance Foyer
  • Laminate Countertops

Flooring

  • Carpet
  • Vinyl

Bedrooms and Bathrooms

  • 15 Bedrooms
  • 12 Full Bathrooms

Parking

  • 16 Parking Spaces
  • Driveway
  • Paved Parking
  • Parking Lot
  • Off-Street Parking

Schools

  • Westview Elementary School
  • Northside Middle School
  • Central High School

Utilities

  • Forced Air Heating and Cooling System
  • Electric Water Heater
  • Cable TV Available

Additional Features

  • Balcony
  • Suburban Location

Listing and Financial Details

  • Tenant pays for electric
  • The owner pays for building insurance, lawn maintenance, maintenance, snow removal, sewer, tax, trash collection, water
  • Assessor Parcel Number 181117209004000003

Community Details

Overview

  • 12 Units
  • West Side / Westside Subdivision

Pet Policy

  • Pet Restriction

Building Details

  • 12 Separate Electric Meters
  • 1 Separate Water Meter
  • Insurance Expense $3,240
  • Maintenance Expense $11,080
  • Trash Expense $1,234
  • Water Sewer Expense $2,375

Property Details

Home Type

Apartment

Year Built

Built in 1971

Lot Details

0

Listing Details

  • Class: INVESTMENT
  • Property Sub Type: Apartment Building
  • Year Built: 1971
  • Age: 45
  • Style: Two Story
  • Architectural Style: Contemporary
  • Bedrooms: 15
  • Number Above Grade Bedrooms: 15
  • Total Bathrooms: 12
  • Total Full Bathrooms: 12
  • Legal Description: Westside Addition E 65 ft of OL 36 and STR 172010 |
  • Parcel Number ID: 181117209004000003
  • Platted: Yes
  • Amenities: Off Street Parking, Near Walking Trail, Balcony, Cable Ready, Countertops-Laminate, Foyer Entry, Water Heater Electric
  • Cross Street: Brittain
  • Inside City Limits: Yes
  • Location: City/Town/Suburb, Near College Campus, Near Walking Trail
  • Road Access: City
  • Road Surface: Asphalt
  • Sp Lp Percent: 88.68
  • Annual Miscellaneous: 12580
  • Monthly Gross Income: 5430
  • Year Taxes Payable: 2014 pay 2015
  • Special Features: None

Interior Features

  • Total Sq Ft: 10080
  • Total Finished Sq Ft: 10080
  • Above Grade Finished Sq Ft: 10080
  • Price Per Sq Ft: 23.31
  • Basement Foundation: Slab
  • Flooring: Carpet, Vinyl
  • Main Level Sq Ft: 5040
  • Number Of Disposals: 12
  • Number Of Ranges Ovens: 12

Exterior Features

  • Exterior: Cedar
  • Roof Material: Asphalt
  • Stories: 2

Garage/Parking

  • Driveway: Asphalt
  • Number Of Parking Spaces: 16
  • Parking: Lot, Paved

Utilities

  • Cooling: Central Air
  • Heating Fuel: Electricity, Forced Air
  • Sewer: City
  • Water Utilities: City
  • Electric Company: AEP/I&M
  • Water Company: Indiana American Water Co
  • Cable Company: Comcast
  • Annual Insurance Expense: 3240
  • Annual Maintenance Expense: 11080
  • Annual Trash Expense: 1234
  • Annual Water Sewer Expense: 2375
  • Number Electric Meters: 12
  • Number Water Meters: 1

Condo/Co-op/Association

  • Pet Restrictions: Yes

Schools

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

Lot Info

  • Lot Description: Irregular, Level, 0-2.9999
  • Lot Dimensions: 110 X 110/160
  • Estimated Lot Sq Ft: 16800
  • Estimated Lot Size Acres: 0.38

Green Features

  • Energy Efficient Windows/Doors: Double Pane Windows

Rental Info

  • Lease Term: 1 Year
  • Owner Pays: Building Insurance, Lawn Maintenance, Maintenance, Snow Removal, Sewer, Tax, Trash Collection, Water
  • Tenant Pays: Electric

Tax Info

  • Total Assessed Value: 338400
  • Annual Property Tax: 6314

Multi Family

  • Gross Monthly Rent: 5430
  • Number Of Refrigerators: 12
  • Number Of Units: 12
  • Num Of1 Bedrooms: 9
  • Num Of2 Bedrooms: 3
  • Num Of Units Rented: 8

MLS Schools

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

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/26/2021 02/26/21 Sold $539,000 0.0% $53 / Sq Ft
01/02/2021 01/02/21 For Sale $539,000 +129.4% $53 / Sq Ft
02/08/2016 02/08/16 Sold $235,000 -24.2% $23 / Sq Ft
01/11/2016 01/11/16 Pending -- -- --
11/05/2015 11/05/15 For Sale $310,000 -- $31 / Sq Ft
Source: Indiana Regional MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Christopher Perry

    Seller's Agent in 2021

    Christopher Perry

    Property House

    (765) 372-2515

    2 in this area

    52 Total Sales

    Christopher Perry
    Section Image
  • Michael Lambert

    Buyer's Agent in 2021

    Michael Lambert

    Leading Home Realty

    (765) 717-4723

    3 in this area

    160 Total Sales

    Michael Lambert
    Section Image
  • Brian Allardt

    Seller's Agent in 2016

    Brian Allardt

    Coldwell Banker Real Estate Group

    (765) 808-1400

    63 Total Sales

    Brian Allardt
    Section Image
  • Steve Robillard

    Buyer's Agent in 2016

    Steve Robillard

    RE/MAX

    (765) 748-4975

    1 in this area

    122 Total Sales

    Steve Robillard
    Section Image
See All Agents

Map

Source: Indiana Regional MLS

MLS Number: 201551557

Indiana Regional MLS
Indiana Delaware County Muncie 47303 Westside

2403 W Charles St, Muncie, IN

This home is located at 2403 W Charles St, Muncie, IN 47303 and is currently priced at $235,000, approximately $23 per square foot. This property was built in 1971. 2403 W Charles St is a home located in Delaware County with nearby schools including West View Elementary School, 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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