3515 West 8th Street Muncie IN 47302
Investment opportunity with excellent capital appreciation potential when rehabbed
2 bedroom, 1 bathroom single family with garage and sheds on large lot of 2 acres close to Downtown in a private and secluded location.
Strong rental demand as the property is in a popular area
Built in 1969
Description
The property is a single story spacious single-family house in a nice setting on a large lot of land planted with many mature trees. The property is approached from the main road through a delightful drive under the trees and the property is well secluded and private although right next to a main road that leads to Downtown Muncie and the highway.
Single Family House: 2 bedrooms , 1 bath- 1,222 sq ft- One story 26’x 47’
Enclosed porch: 288 sq ft (24’ x 12’)
Canopy shed type: 234 sq ft (39 x 6’)
Detached garage : 440 sq ft
Utility shed- NV: 70 sq ft
Utility shed: 288 sq ft
Lot: 2.00 acres
Condition
The property has been vacant for a while and now needs a full rehab, but once completed the property has tremendous potential.
Pleasant and quite location:
The house is located in Muncie which has a population of 68,700. The property is on a main street with a mix of residential and small businesses. Downtown is only about 2.5 miles away and the property has easy access to State Road 332 and Interstate Highway I-69.
The property is located within a short walking distance of excellent local amenities and facilities which include:
Restaurants
Timbers Lounge (.6mi), Subway (.6mi), Little Caesars Pizza (.6mi), China Kitchen (.6mi), Arby's (.8mi), Taco Bell (.8mi), Skyline of Indiana Inc (.8mi), Smith's Hollow (.8mi), KFC (.8mi), Carters Hotdogs (.9mi), Puerto Vallarta Mexican Restaurant (.9mi), Dumpling House (.9mi), Bruner's Family Restaurant (.9mi), Yummy Chinese Restaurant Muncie (.9mi), Mac's Restaurants (.9mi), Burger King (1mi), McDonald's (1mi), Pizza King (1mi), Wilson's B & K Drive-In (1.1mi), Maadi Grill (1.1mi), Wendy's (1.1mi), Subway (1.4mi), Quiznos (1.5mi), Red Dog Saloon (1.5mi), Hoosier Smokehouse (1.7mi), Two Cats Café (1.7mi), China Express (1.7mi), Subway (1.7mi), Puerta Al Paraiso Mexican Grill & Bar (1.7mi), Let's Spoon (1.7mi), Scotty's Brewhouse Muncie (1.7mi), Hotbox Pizza (1.8mi), Pita Pit (1.8mi), Insomnia Cookies (1.8mi), Pizza King (1.8mi), Jimmy John's (1.8mi), Brother's Bar and Grill (1.8mi), Subway (1.9mi), Chick-fil-A (1.9mi), The Atrium (1.9mi), Jamba Juice (1.9mi), Micro Café (2.2mi), Thai Kitchen (2.2mi), Steak city fish and chicken (2.2mi), Tom John Food Shop (2.2mi), Uggly's Bar And Grill (2.2mi), Tuppee Tong Thai Restaurant (2.3mi), Thr3e Wisemen Muncie (2.3mi).
Coffee
Jack's Donuts and Coffee of Muncie (.6mi), Starbucks (.9mi), The Cup (1.8mi), Bookmark Café (2mi), Alliance World Coffee Roasters (2mi), White Spot Coin Laundry (2.2mi), Nelson's Café (2.2mi), Guido's Coffee Equipment LLC (2.3mi), The Caffeinery (2.3mi), Concannon's Bakery Café (3mi), Starbucks (3.3mi), Yorktown Café (3.5mi), Panera Bread (3.8mi), A M Coffee Services (4.2mi), Cardinal Cafe & Catering (4.3mi).
Bars
End Zone Sports Bar (.8mi), Big Shots Pub (1.1mi), My Place (1.5mi), Redbird Cleos (1.7mi), The Chug (1.7mi), Cleo"S (1.7mi), Workmans Bar (1.8mi), D Luxe Bar and Lounge (1.8mi), Mark III Tap Room (2mi), Red Dog Saloon (2mi), Gene's Lounge (2.3mi), BMW (2.3mi), Heorot (2.4mi), The Fickle Peach (2.4mi), Mark III Tap Room (2.4mi), Mulligan's Lounge (2.4mi), Joker's Wild (2.5mi), Chance's R (2.5mi), Stag Bar (2.5mi), Madison Square Gardens (2.6mi), Buddy's Place (2.6mi), Ro-Jac's (2.6mi), Applebee's Neighborhood Grill & Bar (3mi), Stag Bar (3mi), The Cozy (3.1mi), Triangle Saloon (3.2mi), Sportsman's Lounge (3.3mi), Shakers Nightclub (4mi), Rooster Tail Saloon (4.1mi).
Groceries
Marsh Supermarket (.7mi), Asian Market (.9mi), Main Street Market (1.5mi), Schwan's (1.8mi), The Downtown Farm Stand (2.5mi), ALDI Muncie, IN (2.6mi), Walmart Grocery Pickup (2.7mi), Farmers Market at Minnetrista Orchard Shop (2.7mi), Marsh Supermarket (2.8mi), Big Lots (2.9mi), Ruler Foods (3mi), Mainstreet Markets (3.1mi), Marsh Supermarket (3.1mi), Meijer (3.3mi), Walmart Grocery Pickup (3.4mi), Edmonds Enterprises (3.5mi), Aldi (3.5mi), Marsh Supermarkets Inc (3.7mi), Main Street Market (4.3mi), Marsh Supermarkets (4.4mi).
Parks
Westside Park (.8mi), Thomas Park (1mi), Guthrie Park (1.3mi), Rose Park (1.5mi), Bradford Park (1.6mi), Tuhey Park (2.3mi), Heekin Park (2.7mi), Cowing Park (3mi), McCulloch Park (3.3mi), Riverview Park (3.5mi).
Schools
Youth Opportunity Center (.2mi), Wilson Middle School (1mi), West View Elementary School (1.2mi), St Mary School (1.4mi), Burris Laboratory School (1.6mi), Heritage Hall Christian School (1.8mi), Storer Elementary School (2.1mi), South View Elementary School (2.1mi), in Aca for Science Math & Humanities High School (2.2mi), Northside Middle School (2.4mi), Muncie Central High School (2.7mi), East Washington Academy (2.9mi), Apple Tree Child Development Center (3mi), Mitchell Elementary School (3.3mi), Muncie Southside High School (3.3mi), Grissom Elementary School (3.3mi), Pleasant View Elementary School (3.4mi), Yorktown High School (3.6mi), North View Elementary School (3.6mi), Longfellow Elementary School (3.8mi), Hoosier Academy – Muncie (3.9mi), St Lawrence Elementary School (3.9mi), Yorktown Elementary School (4mi), Yorktown Middle School (4mi).
Shopping
Main Street Apparel (.3mi), Jim's Wrestling Supply (.3mi), After Dark (.6mi), Abercrombie Ink (.9mi), Hoosier Pete Convenience Stores (1.3mi), Cancer Center Boutique (1.4mi), T.I.S College Bookstore (1.7mi), ScreenBroidery (1.7mi), Juniper (1.8mi), White Rabbit Used Books (1.8mi), rossspot.com (2mi), Whimsical Retail Therapy (2.3mi), Towne Boutique (2.4mi), AW Yeah Comics (2.4mi), The Hayloft Boutique (2.4mi), Family Dollar #1008 (2.5mi), The Vintage Shoppe Thrift & Gift (2.5mi), Printastic (2.5mi), Varsity Spirit Fashions (2.6mi), Carl's Department Store (2.6mi), Cintas Uniform Services (2.7mi), Elegant Tease (2.8mi), Ford's Tux (2.8mi), Goodwill Store (2.9mi).
Entertainment
David Owsley Museum of Art (1.7mi), Muncie Children's Museum (2.2mi), Moore-Youse Home Museum (2.5mi), Emily Kimbrough House (2.8mi), AMC Showplace Muncie 12 (4.2mi).
Errands
Timothy C. Orr, RPh (.3mi), CVS/Pharmacy (1mi), American's Flagdesk (1.1mi), Wayne A. Randolph, RPH (1.1mi), Delaware Wood Products LLC (1.2mi), Genoa Health Care LLC (1.2mi), Indiana Members Credit Union (1.4mi), IU HEALTH BALL MEMORIAL HOSPITAL (1.4mi), Pavilion Health Care Pharmacy (1.4mi), Redhead Salon Boutique (1.5mi).
(walkscore.com)
Demographics for Muncie IN 47302:*
Total population 27,215 (Muncie: 68707)
White: 84.9% - Black/ African American: 9.6% are black
Average Home Value $93,097
Average Household Income $47,392
* https://indiana.hometownlocator.com/zip-codes/data,zipcode,47302.cfm
THIS IS A UNIQUE OPPORTUNITY FOR THE SAVVY BUSINESS OWNER, DEVELOPER OR INVESTOR TO OWN A POTENTIALLY HIGH INCOME PROPERTY AT A DISCOUNTED PRICE IN A GREAT LOCATION.
Great investment opportunity:
The property has excellent capital appreciation potential when rehabbed.
Prices were up 7.8% in the last 12 months (Zillow.com)
Rental income:
Estimated income potential once rehabbed: $850/ month*
*zillow.com
Taxes:
Delaware County IN - Parcel: 18-11-18-476-003.000-003
Real Estate Taxes: $682.50 per half year
Public records show only taxes due: spring and fall 2018 taxes payable in 2019
PROPERTY IS SOLD AS IS, WHERE IS-
Buyer assumes real estate taxes, liens, bills and encumbrances (if any)
Winning bidder must contact the seller within 24 Hours after the close of the auction with full details of the buyer.
Buyer will also be responsible for $500 deed prep and doc fee as well as 8 % premium.
10% non-refundable deposit (minimum $1,000), auction premium (Minimum $250) and $500 deed preparation and doc fee are due within 48 hours of auction close.
Final Payment to be made within 5 days of the Auction close.
All bidders to do their due diligence. Property is sold on a Quit Claim deed. Buyer assumes real estate taxes, liens, bills and encumbrances (if any). Buyer is responsible for directly checking the up-to-date amounts of the back taxes, liens and the requirements of the building code department. Buyer is responsible for fixing building code violations, making all repairs and for meeting building code requirements. No statement anywhere, whether express or implied, shall be deemed a warranty or representation by the Seller regarding these assets. Buyers are bound by the Purchase Agreement which is attached under the Due Diligence section. All buyers are deemed to have relied entirely on their own information, judgments and inspections of the property in making the decision to purchase the property.
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