429 W Charles St, Muncie, IN 47305

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.