$209,900

429 W Charles Street, Muncie, IN 47305

  • 12 beds |
  • 5 baths |
  • 2,778 sqft
  • Property Icon Multi-Family Home
  • Property Year Built Icon Built in 1800
  • Property Lot Size Icon3,049sqft lot
  • Property Parking Icon —— car garage
  • Property Price Per Square Feet Icon $76/sqft
  • Property List Date Icon Listed 29 days ago

Property Description

Discover an excellent investment opportunity in the Old West End of downtown Muncie with this fully configured fiveplex at 429 W Charles Street. This brick-constructed multi-family property features a total of 7 bedrooms and 5 full baths within approximately 2,092 square feet of living space Property Highlights: • Five units with flexible rental configurations (12 total bedrooms, 5 baths). • Built in 1800 — solid historic construction with durable materials. Brick exterior, two-story design with covered/enclosed porch area. • Off-street parking with up to 5 private spaces. Homes • Separate utilities (electric and gas) to each unit — currently owner covers utilities, presenting an opportunity to pass through costs to tenants. • Strong layout for long-term rental income or value-add repositioning. Unit Mix (Example/Rental Potential): • Unit 1: 2BR/1BA – $875/mo (occupied) • Unit 2: 1BR/1BA – vacant (last rented $750/mo) • Unit 3: 1BR/1BA – $800/mo (occupied) • Unit 4: 1BR/1BA – to be leased at ~$650/mo • Unit 5: 1BR/1BA (possible 2BR) – $740/mo (occupied) • Potential upside through utility billing restructuring and lease-up of Unit 4. Situated in a walkable downtown neighborhood near parks and local amenities, this property is ideal for investors targeting stable cash flow, tenant demand, and long-term value in a central Muncie location.

Listing Status:
Active
Date Added:
November 24, 2025 at 06:00AM
Listing Office:
Ferris Property Group : 317-204-8324
Listing Agent:
Cody Wallace : 765-212-5522
MLS ID:
202547323
  • Basement: CrawlUnfinished
  • Flooring: Vinyl
  • A/C: None
  • Heating: Forced AirGas
  • General: Brick
  • Style: Two Story
  • Other Structures: None
  • Parking: PrivateParking spaces: 5
  • Roofing: RubberShingle
  • School District: Muncie Community Schools
  • Zoning: J C E ADD LOT 7 & 151 HLF FT X 22FT ON CHAS ST S16 T20 R10 0.070 AC18-11-16-234-008.000-003
  • Fencing: None

This listing courtesy of Cody Wallace, Ferris Property Group

Monthly Payment

$Est. Payment
  • Principal & Interest $
  • Property Taxes $
  • Home Insurance $
  • VA Funding Fee $

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Location

Schools Nearby

E

East Washington Academy

1000 E Washington St, Muncie, IN, 47305

Grades PK-5

0.88 miles away

N

Northside Middle School

2400 W Bethel Ave, Muncie, IN, 47304

Grades 6-8

1.92 miles away

M

Muncie Central High School

801 N Walnut St, Muncie, IN, 47305

Grades 9-12

0.74 miles away

Disclaimer: School and School District information courtesy of the National Center for Education Statistics (NCES). School boundaries may change. Proximity to listed schools does not guarantee enrollment eligibility. Contact the school district for more information and exact boundaries.