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Property profile & analytics
OFF-MARKET
Estimated value
$4,770,000
Residential income homes
217 Martin St, Muncie, IN 47303-4926
Entity Owned
4-yr Hold
~
Est. High Equity
Property ID
US31-1447208
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
2019
Construction
WOOD
Total area
2,600 SF
Lot
0.14 ac (6,096 SF)
APN
18-11-08-483-010.000-003
UPID
US31-1447208
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.66M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.77M
Owner & transaction history
Cardinal Housing LLC · 4 yrs held
Cardinal Housing LLC
since 2022
Last sale
$4.9M
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Muncie submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Muncie submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$4,620,000
ML approach
$4,655,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$4.77M
Range $4.29M – $5.25M · ±10% · vs last sale $4.90M (May 11 2022)
Last sale anchor
$4.90M
May 11 2022
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$1,835 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$1,115
Tax year 2023
Assessed value
$302,700
Assessed 2023
Previous assessed
$302,700
+0.0% YoY
Effective rate
0.37%
On assessed value
Assessed land
$18,300
Assessed improvement
$284,400
Land market value
$18,300
Improvement market value
$284,400
Total market value
$302,700
Applied tax rate
3.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
2019
Construction
WOOD
Heating
FORCED AIR
Stories
2
Units
4
Rooms
6
Bathrooms
2
Total area
2,600 SF
Lot
0.14 ac (6,096 SF)
APN
18-11-08-483-010.000-003
UPID
US31-1447208
Jurisdiction
DELAWARE
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Year built
2019
Construction
WOOD
Heating
FORCED AIR
Stories
2
Units
4
Rooms
6
Bathrooms
2
Lot
0.14 ac
Current owner
From public records · entity-resolved
Cardinal Housing LLC
Entity
Mailing address
3653 JUILLERAT DR, PORTLAND, IN 47371-6251
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 11, 2022
$4,900,000
Cardinal Housing LLC
Nexgen Bsu Townhomes LLC
Warranty Deed
$4,950,000 · First Bank & Trust
Apr 11, 2017
—
Cardinal Properties INC
P Shaw Properteis LLC
Deed
—
Apr 11, 2014
—
Phoenix Group Properties LLC
David V Radcliff
Warranty Deed
—
Jun 4, 2010
$77,900
David V Radcliff
Four Corners Properties LLC
Warranty Deed
—
Mar 1, 2007
—
Four Corners Properties LLC
Pakul C Raver JR
Quit Claim Deed
related
—
Feb 23, 2007
—
Robert W Wardrop
Michelle L Wardrop
Quit Claim Deed
$72,000 · Home Finance Of America INC
Oct 28, 2005
—
Michelle L Wardrop
Robert W Wardrop
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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