Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Muncie Multifamily Investment Opportunity Title is generated by Realmo AI

    407 N Monroe Street, Muncie, IN 47305

    View on Map
    Claim this Listing
    For Sale
    $212,000

    House - Muncie, IN

    Type:Single Family Residence
    Lot size:
    0.11 Acres
    Added:
    Mar 26, 2026
    Days on Market:
    48
    Last Refresh:
    May 12 at 12:06 pm

    Property Features for 407 N Monroe Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Single Family Residence
    Bathrooms
    4
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Kitchen
    Parking features
    Off Street
    Interior features
    Drywall, Wood, 220 Volts
    Exterior features
    220 Volts
    Standard status
    Active
    APN
    18-11-10-376-005.000-003
    Lot size
    0.11 Acres

    Taxes and HOA fees

    Tax Annual Amount
    3900

    Utilities

    Heating system
    Hot Water (Heating), Other (Heating)

    Building Details

    Year built
    1890
    Floors in Building
    2
    Flooring type
    Laminate, Tile
    Roof type
    Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Ed Conatser

    Listing agent Ed Conatser License #RB14034629

    Listing office F.C. Tucker Muncie, REALTORS 3417 W Bethel Ave Suite E, MUNCIE, IN

    Listing date Mar 26, 2026

    MLS# 202610095 Listing URL

    Copyright © 2026 Mid-Eastern Indiana Association of Realtor MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • Four Units: Ideal investment opportunity with multiple rental incomes.
    • Separate Gas and Electric Meters: Simplifies tenant billing and expense management.
    • Recent Renovations: Enjoy interior and exterior updates completed within the last 2 years.
    • Edge of Downtown Muncie Location: Benefit from convenient access to city amenities.
    • Laminate and Tile Flooring: Durable and modern flooring throughout.
    • Off‑Street Parking: Provides convenient parking for tenants.

    Overview

    This multifamily property, located on the edge of downtown Muncie, Indiana, features four units. Each unit includes a living area, kitchen, two bedrooms, and a full bathroom. The property has undergone several interior and exterior renovations within the last two years. Gas and electric utilities are separately metered for each unit. The lot size is 0.11 acres. Income and expense information is available upon request. This property is located in Muncie, Indiana.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Muncie
    County
    Delaware
    State
    Indiana
    Longitude
    -85.380655
    Latitude
    40.196732

    Nearby Similar for Sale

    • $399,900
      8,483 SF

      Spacious Commercial Building with Showroom

      8,483 sq ft commercial building with warehouse and showroom.
      4411 N Broadway Avenue, Muncie, IN 47303
      View Details
    • $945,000

      Downtown Muncie Commercial Building

      20,000 SF commercial building with parking lots.
      225 N High Street, Muncie, IN 47305
      View Details
    • $359,900

      Established Muncie Restaurant and Bar

      Turn-key restaurant and bar opportunity with real estate included.
      3823 N Broadway Avenue, Muncie, IN 47303
      View Details
    • $895,000

      Muncie Investment Property in Airpark

      Investment property with long-term tenants in Muncie, Indiana.
      404 W Air Park Drive, Muncie, IN 47303
      View Details
    • $395,000

      Muncie Retail Building For Sale

      1,600 SQFT commercial building with drive-thru, ample parking.
      4801 N Wheeling Avenue, Muncie, IN 47304
      View Details
    • $137,500

      Versatile Muncie Building with Updates

      Adaptable 3,060 SF building suitable for office or religious use.
      4023 N Rosewood Avenue, Muncie, IN 47304
      View Details
    • $250,000

      Turnkey Salon Near Ball State

      Fully operational salon near Ball State University for sale.
      201 E Centennial Avenue, Muncie, IN 47303
      View Details
    • $380,000

      Muncie Warehouse and Office Flex

      Versatile warehouse with office space and fenced laydown yard.
      1601 N Country Club Road, Muncie, IN 47303
      View Details
    • $360,000

      Historic Bar and Restaurant Opportunity

      Muncie's oldest bar with equipment, license, rental home, lot.
      1811 S Burlington Avenue, Muncie, IN 47302
      View Details
    • $725,000

      Muncie Office Building For Sale

      Well-maintained office building in a prime commercial corridor.
      3621 N Everbrook Lane, Muncie, IN 47304
      View Details
    • $3,400,000

      Muncie Office Opportunity

      Well-located Muncie office property with high visibility and accessibility.
      800 S Tillotson Avenue, Muncie, IN 47303
      View Details
    • $163,900
      2,672 SF

      Muncie Multi-Unit Residential Property

      Multi-unit property with updates and individual utilities in Muncie, Indiana.
      1901 W Riggin Road, Muncie, IN 47304
      View Details

    FAQs

    What type of property is this?
    Quadplex - Four-unit property near downtown Muncie with recent renovations.
    Where is this quadplex located?
    The property is located at 407 N Monroe Street Muncie, IN.
    What is the asking price?
    The asking price for this property is $212,000.
    What are key features of this property?
    This property features: Four Units: Ideal investment opportunity with multiple rental incomes.; Separate Gas and Electric Meters: Simplifies tenant billing and expense management.; Recent Renovations: Enjoy interior and exterior updates completed within the last 2 years.
    (765) 744-0899
    We can help!
    Listing Contact
    Ed Conatser
    Real Estate License ID: RB14034629
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    407 N Monroe Street, Muncie, IN 47305
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!