Todd Keith

Five Stream Ventures LLC
972-836-7705

Discounted Investment Opportunity

5 Unit Apartment Building 

422 W. Howard Street, 
Muncie, Indiana 47305

Offered by:                              
Todd Keith
214-395-0804
Todd@FiveStreamVentures.com

Table of Contents

Contents
Table of Contents    1
Investment Opportunity    2
Income and Expenses    2
Property Description    2
Property Highlights    3
Confidentiality    3
Disclaimer    4
Contact Information    4

This Property is offered for sale to qualified Buyers. Proof of funds is required with all offers.
Additional photos available upon request.

Investment Opportunity

Purchase Price:  $29,500                       Cost per door:  $5,900 

Building Class:    C

Location Class:   C 

Investment Benefits 
?    Solid Cash-Flowing Property
?    Pro forma cap rate 65.79%
?    Cash on cash return 200.6%
?    5-year annual ROI 204.0% per year
?    Great Investment Opportunity
?    Experienced Professional Property Management company available
?    6-minute drive to Ball State University (22,000 Students in 2018)
?    Room for rent increases
?    More possible value plays
?    5 Minute walk to Ivy Tech Community College    ?    40% Occupied
?    Cap Rate on Actuals: 10.09% (Due to 60% Vacancy)
?    Muncie is one of the top Real Estate markets in Indiana
?    $2,978 actual NOI
?    $19,408 pro forma NOI
?    Perfect Starter multifamily deal
?    Major Employers: Ball State University, IU Ball Memorial Hospital, General Motors-Metal Fabricating, Red Gold, Reid Hospital & Health Care Services, Indiana Wesleyan University, Ivy Tech Community College – East Central

Opportunity:  Excellent opportunity for an investor to get on board with a stable property which offers a significant upside with rent increases.

Status:  Under contract by Todd Keith.  New Buyer will be assigned contract at close.  

Income and Expenses

                            
Subject Property Current Rents:  $350 per month.   Actual rents are provided in the Rent Roll.

Income    Pro-Forma
Monthly Potential Income    $2,352
Gross Scheduled Income    $28,224
  Less Vacancy (10%)    (1,411)
  Less Expenses (45%)    (7,404)
Net Operating Income    $19,408

Property Description

Number of Units:  5

Style:  Two-story

Utilities:  Owner pays for water & sewer while tenants pay for electricity.

Roof:  Pitched Asphalt Shingles

Construction:  Wood Frame

Current Occupancy:  40%
                     
Building Square Footage:  2,700 sq ft

Land Acreage:  0.09 acres

Built:  1896

Property Highlights

?    Solid 5 Unit Property With Great Cash-Flow Potential

?    4 min drive to South View Elementary School, 5 min drive to Muncie Central High School & East Washington Academy, 6 min drive to Indiana Academy for Science Math & Humanities & Burris Laboratory School, 7 min drive to St. Mary Elementary School, Longfellow School, and Pope John Paul II Middle School , 8 min drive to West View Elementary School, North Side Middle School, Grissom Memorial Elementary School, and Muncie Community School

?    Near to restaurants namely Tuppee Tong Thai Restaurant, Twin Archer Brewpub, Greek's Pizzeria, Maadi Grill, Osteria 32, Casa del Sol, Vera Mae’s Bistro, Harmony Café, Amazing Joe’s Grill, Heorot, Hoku Poku, Chavas, Thai Kitchen and Pita Pit

?    Near to grocery shops like ALDI, Walmart Supercenter, The Downtown Farm Stand, Dollar General, Family Dollar, Asian Market, Meijer, PayLess Super Market.

Confidentiality

It is acknowledged by reader that information furnished in this Executive Summary is in all respects confidential in nature, other than information which is in the public domain through other means and that any disclosure or use of same by reader, may cause serious damage; therefore, reader agrees not to disclose it without the express written permission of Todd Keith.

Disclaimer

Todd Keith has prepared this Executive Summary, which contains brief, selected information pertaining to the business and affairs of the property.  The information contained herein does not purport to be all inclusive nor does it purport to contain all of the information representative of the property.  Todd Keith nor any of its respective partners, officers, employees or agents makes any representation or warranty, expressed or implied, as to the accuracy or completeness of the information contained herein or otherwise expressed and conveyed and no legal liability is assumed or shall be implied with respect hereto.

Such information and statements have in many circumstances been obtained from outside sources, have not been tested or verified and may be subject to errors or omissions.  Projections, especially, are based on various assumptions and subjective determinations as to which no guaranty or assurance is given.  

Potential investors are recommended and urged to perform their own examination and investigation and not to rely on the information contained within this document or other materials otherwise provided.

Contact Information

Please contact me at the phone number or email address listed below if you are an interested party, or if you require further information.

Offered by:                              
Todd Keith
214-395-0804
Todd@FiveStreamVentures.com