Todd Keith

Five Stream Ventures LLC
972-836-7705

Two 100% occupied, Cash-flowing duplexes in landlord-friendly Indiana! Below market rents that, if raised to market levels, would allow the next investor to gross $1,919 a month. 17.31% Cap Rate on Actuals and 26.82% Cap Rate on Pro Forma. 

Pick up this 4 Unit 2 Property Package Deal for only $53k. This one won't last long!  

Address: 1321 East 1st Street, Muncie, Indiana 47302 & 2917 Fletcher Street, Anderson, Indiana 46016 (Click Here For Map) 

Units: 4

Unit Mix: Two 1 Bedroom / 1 Bath Units and Two 2 Bedroom / 1 Bath Units.

Current Rents: $ 300 – $500

Market Rents: $400 – $593

Square Footage: 

• 1321 East 1st Street- 1,560 sqft 

• 2917 Fletcher Street- 1,312 sqft 

Annual Tax: $1,400 

Occupancy: 100% 

Year Built: 

• 1321 East 1st Street- 1900 

• 2917 Fletcher Street-1940 

Utilities: Owner pays for water, sewer for all units and gas for downstairs unit only on 1321 E 1st. Tenants pay for electric on all units. 

Management: Currently self managed, but excellent local property management company ready to step in and manage this one for the next owner. 

Actual CAP: 17.31% 

Pro Forma CAP: 26.82%(10% Property Management, 5% Vacancy, Taxes, Insurance, and Owner’s Portion of Downstairs Unit’s Water, Sewer, Gas ) 

Price: $53,000 (Cash, Hard Money, or Private Money) 

Executive Summary, Photos, and Rent Comps can be found in this Google Drive Folder.(Please Click Here)

Due Diligence: Buyers are encouraged to do their own due diligence. (See Important Disclosures Below)