3 beds 2 baths 3,824 sqft
Indiana Riverfront Home at Auction With 3 Bedrooms, 3,824 Square Feet and Renovation Potential in Muncie
Finding a large waterfront property in Indiana can be exciting for buyers who appreciate scenic views, spacious interiors, and the possibility of creating a personalized home.
However, some real estate opportunities come with significant challenges that must be evaluated before making a purchase.
One property attracting attention is located at 3700 S Burlington Drive, Muncie, IN 47302.
This two-story residence was originally built in 1940 and is listed with three bedrooms, one full bathroom, one half bathroom, and approximately 3,824 square feet of interior living space.
The property sits on approximately 0.62 acres overlooking the White River.
Additional reported features include an in-ground swimming pool, an attached two-car garage, two fireplaces, central air conditioning, and a recently installed Generac generator.
Yet the most important detail is the home’s condition.
According to the seller’s description, the residence suffered damage during the August floods and now requires a buyer prepared to investigate extensive repairs and restoration.
The listing describes the property as an investment or remodeling opportunity, but the actual cost and feasibility of rehabilitation have not been established.
The home is also identified as being within a floodplain, making flood risk, insurance, permits, and future building restrictions particularly important.
Although Zillow displays an estimated price of $1, this is an auction listing, and the figure should not be interpreted as a confirmed purchase price.
This article examines the home’s reported features, renovation challenges, waterfront characteristics, financing possibilities, insurance considerations, and the questions buyers should ask before pursuing a flood-damaged property in Indiana.
Property Overview: 3700 S Burlington Drive, Muncie, Indiana
The residence is located along Burlington Drive in Muncie, Indiana.
Its setting along the White River is one of the property’s defining characteristics.
Key Property Details
- Address: 3700 S Burlington Drive, Muncie, IN 47302
- Property Type: Single-Family Residence
- Year Built: 1940
- Interior Living Area: 3,824 Square Feet
- Bedrooms: 3
- Bathrooms: 1 Full Bathroom and 1 Half Bathroom
- Stories: 2
- Lot Size: Approximately 0.62 Acres
- Lot Dimensions: Approximately 110 × 245 Feet
- Waterfront: Yes
- Body of Water: White River
- Reported Water Frontage: 100 Feet
- Swimming Pool: In-Ground
- Garage: Attached, Two-Car
- Fireplaces: 2
- Heating: Electric, Natural Gas, Forced Air
- Cooling: Central Air
- Foundation: Slab, With Crawlspace Areas Described
- Exterior: Wood Siding
- Water Supply: Well
- Sewer: Public Sewer
- Floodplain: Identified in Listing
- Condition: Flood-Damaged
- Sale Type: Auction
- Annual Property Taxes: Approximately $2,345
- Tax-Assessed Value: $248,600
- Zestimate: $273,700
- MLS Number: 202645735
All details are based on the supplied listing and should be independently verified.
Understanding the Estimated $1 Auction Price
The property is displayed with an estimated price of $1.
For a riverfront home with more than 3,800 square feet, this figure may appear surprising.
However, the listing identifies the property as an auction offering.
Is the House Really Selling for $1?
The supplied information does not establish a $1 purchase price.
The figure should not be interpreted as a confirmed asking price, minimum bid, or final sale amount.
Why Auction Listings Can Display Nominal Prices
Some property platforms use nominal figures when a conventional fixed asking price is not available.
What Determines the Actual Purchase Price?
The final amount may depend on bidding competition, property condition, auction rules, and seller requirements.
Additional Auction Costs
Potential expenses may include deposits, buyer’s premiums, closing costs, inspections, title charges, and other obligations.
Auction Date
The supplied excerpt identifies the property as an auction listing but does not specify the auction date or bidding deadline.
Buyers should obtain the official schedule and terms from the auction company.
A Large Riverfront Home Built in 1940
The home was constructed in 1940 and contains approximately 3,824 square feet of reported interior living space.
Older Home Character
Properties built during this period may contain architectural features and construction methods different from modern homes.
Two-Story Layout
The residence is listed as having two levels.
Interior Space
The reported square footage provides room for multiple living areas.
Age-Related Maintenance
Older homes may require updates to electrical systems, plumbing, insulation, and other components.
Flood Damage
Because the property experienced flooding, buyers must evaluate both ordinary age-related concerns and flood-related deterioration.
Understanding the August Flood Damage
The seller’s description states that the home was damaged during the August floods.
This is the most important factor in evaluating the property.
Water Intrusion
Floodwater can affect flooring, walls, insulation, electrical equipment, and structural materials.
Hidden Moisture
Moisture can remain inside walls and other concealed spaces after visible water has receded.
Mold Risk
Flood-damaged buildings may require professional moisture assessment and remediation.
Electrical Safety
Electrical components exposed to floodwater may require replacement or specialized evaluation.
Mechanical Systems
Heating, cooling, and other equipment should be inspected for flood-related damage.
Professional Assessment
A qualified restoration contractor, structural professional, and relevant specialists should evaluate the property before renovation begins.
Three Bedrooms and Two Bathrooms
The home is listed with three bedrooms and two bathrooms, consisting of one full bathroom and one half bathroom.
Bedroom Layout
The structured listing identifies two bedrooms on the upper level.
Third Bedroom
The supplied excerpt does not clearly identify the level or dimensions of the third bedroom.
Upstairs Bathroom
The seller reports that the upstairs bathroom was recently remodeled and was not damaged by the flood.
Verification
Buyers should independently inspect the bathroom and surrounding areas.
Household Functionality
The existing layout may provide flexibility, but the home’s current habitability has not been established.
Recently Remodeled Upstairs Bathroom
One encouraging detail in the seller’s description is the upstairs bathroom.
Recent Renovation
The bathroom is described as freshly remodeled.
Reported Flood Condition
The seller states that this bathroom was not damaged during the flood.
Plumbing Inspection
Even an apparently unaffected bathroom should be evaluated for plumbing and moisture issues.
Renovation Planning
If the bathroom remains serviceable, it may influence the overall restoration plan.
No Guarantee
The listing does not establish that the bathroom meets all current requirements or is free from concealed damage.
Spacious Main-Level Living Room
The structured listing identifies a living room on the main level.
Reported Dimensions
The living room measures approximately 19 × 19 feet.
Reported Area
The listing gives an area of approximately 361 square feet.
Potential Living Space
A room of this size may provide flexibility for furniture and household activities.
Fireplace
One of the property’s two fireplaces is identified as being in the living room.
Flood Restoration
Flooring, walls, fireplace components, and other features should be inspected for water damage.
Main-Level Family Room
The home also includes a family room.
Reported Dimensions
Approximately 21 × 14 feet.
Reported Area
Approximately 294 square feet.
Flexible Use
A separate family room may provide additional living or entertainment space.
Restoration Considerations
Any flood-exposed finishes or systems may require remediation.
Future Design
A buyer considering renovation should evaluate whether the existing layout meets their needs.
Kitchen and Dining Areas
The listing identifies a kitchen and dining room on the main level.
Kitchen Dimensions
The kitchen is reported as approximately 15 × 7 feet.
Kitchen Area
Approximately 105 square feet.
Dining Room Dimensions
The dining room is reported as approximately 11 × 14 feet.
Dining Room Area
Approximately 154 square feet.
Renovation Costs
Kitchen restoration can involve cabinetry, appliances, electrical systems, plumbing, flooring, and wall finishes.
Flood Exposure
Buyers should determine which kitchen components were affected by floodwater.
Two Fireplaces
The home is listed with two fireplaces.
Living Room Fireplace
One fireplace is located in the living room.
Additional Fireplace
The second fireplace is associated with an additional room.
Inspection
Fireplaces and chimneys should be professionally evaluated before use.
Flood Damage
Water exposure may affect masonry, fireboxes, venting, and other components.
Insurance
Fireplace condition and type may influence insurance requirements.
Approximately 3,824 Square Feet of Interior Space
The reported interior living area is substantial for a three-bedroom residence.
Renovation Flexibility
Larger interiors may provide opportunities to reconsider room layouts.
Higher Restoration Costs
More square footage can also mean more materials, labor, and maintenance expenses.
Square Footage Verification
Buyers should confirm the reported area and understand how it was measured.
Usable Space
The listing’s square footage does not establish that the entire area is currently safe or habitable.
Professional Planning
An architect or qualified contractor can help evaluate the scope of rehabilitation.
White River Waterfront Setting
One of the property’s most attractive reported features is its position along the White River.
Scenic Views
The seller describes a beautiful setting overlooking the river.
Natural Surroundings
Riverfront properties may offer distinctive landscapes and outdoor experiences.
Waterfront Ownership
Waterfront boundaries and rights should be verified through legal documents.
Riverbank Maintenance
Erosion, vegetation, and drainage can affect waterfront properties.
Flood Exposure
The riverfront location is especially important because the property has already experienced flood damage.
Approximately 100 Feet of Reported Water Frontage
The listing identifies approximately 100 feet of water frontage.
Waterfront Access
The presence of river frontage does not automatically establish unrestricted access or use rights.
Survey
A survey can help identify property boundaries relative to the river.
Shoreline Regulations
Certain construction or land alterations may require permits.
Erosion
Riverbank stability should be evaluated.
Long-Term Planning
Waterfront ownership can involve ongoing maintenance and environmental responsibilities.
A 0.62-Acre Lot
The property occupies approximately 0.62 acres.
Approximate Square Footage
At 43,560 square feet per acre, 0.62 acres is equivalent to approximately 27,007 square feet.
Reported Dimensions
The listing provides dimensions of approximately 110 × 245 feet.
Outdoor Space
The lot includes the residence and an in-ground swimming pool.
Drainage
Drainage and grading should be evaluated after the reported flooding.
Site Restrictions
Floodplain regulations may affect future improvements.
In-Ground Swimming Pool
The property includes an in-ground pool.
Outdoor Recreation
A swimming pool can be an appealing feature when properly maintained.
Flood Exposure
Floodwater can contaminate pool water and damage equipment.
Pool Equipment
Pumps, filters, electrical components, and plumbing should be evaluated.
Structural Condition
The pool shell and surrounding deck may require inspection.
Restoration Costs
Repairs or replacement can create substantial additional expenses.
Safety
The pool should not be used until its condition and water quality have been appropriately assessed.
Attached Two-Car Garage
The residence includes an attached garage with two reported parking spaces.
Vehicle Storage
An attached garage can provide convenient covered parking.
Flood Damage
Buyers should investigate whether the garage was affected by floodwater.
Electrical Systems
Garage outlets, wiring, and equipment may require inspection.
Structural Evaluation
Walls, doors, flooring, and framing should be checked.
Future Use
The garage’s suitability depends on its actual condition.
Generac Generator Installed Shortly Before the Flood
The seller reports that a Generac generator was installed approximately two weeks before the flood.
Recent Installation
The relatively recent installation may interest buyers.
Possible Damage
The seller expresses hope that the generator can be repaired.
No Confirmed Functionality
The listing does not establish that the generator currently works.
Professional Inspection
A qualified generator technician should assess the equipment before operation.
Repair Versus Replacement
Flood damage may affect electrical and mechanical components.
Warranty Considerations
Buyers should verify whether any warranty coverage remains and whether flood damage is excluded.
Heating and Central Air Conditioning
The structured listing identifies electric and natural gas forced-air heating, along with central air conditioning.
Heating System
The actual condition of the heating equipment should be verified.
Cooling System
Central air conditioning is reported.
Flood Exposure
Mechanical systems may be damaged if exposed to floodwater.
Safety
Equipment should not be operated until qualified professionals determine it is safe.
Replacement Budget
Buyers should obtain estimates for repair or replacement if necessary.
Slab and Crawlspace Construction
The seller states that part of the home is block construction on a slab and another part is built over a crawlspace.
Mixed Foundation Design
Different sections of the home may have different foundation characteristics.
Slab Areas
Slab-supported sections should be inspected for movement, cracking, and flood-related issues.
Crawlspace Areas
Crawlspaces can be vulnerable to moisture accumulation.
Structural Assessment
A qualified professional should evaluate both foundation types.
Moisture Management
Drainage, ventilation, and appropriate moisture controls may be important during restoration.
Wood Siding and Exterior Maintenance
The home is listed with wood siding.
Exterior Appearance
Wood siding can contribute to a traditional residential appearance.
Water Damage
Flood exposure and prolonged moisture can damage wood materials.
Inspection
Buyers should check for rot, deterioration, and hidden moisture.
Maintenance
Wood siding may require periodic painting, sealing, or replacement.
Restoration Planning
Exterior repairs should be included in the total renovation budget.
Well Water and Public Sewer
The structured listing identifies a well for water and public sewer service.
Well Inspection
Buyers should evaluate the condition of the well and associated equipment.
Flood Contamination
Flooding can create water-quality concerns for private wells.
Water Testing
Appropriate testing and any necessary disinfection should be completed before relying on the water supply.
Public Sewer
The listing identifies public sewer service.
Connection Verification
Buyers should confirm the condition and functionality of the sewer connection.
Floodplain Designation: A Major Consideration
The property is explicitly identified as being in a floodplain.
What Is a Floodplain?
A floodplain is an area associated with potential flooding from nearby waterways.
Flood Risk
Actual risk depends on elevation, flood mapping, river conditions, and other factors.
Insurance Requirements
Flood insurance may be required by certain lenders for buildings located in designated high-risk flood areas.
Building Restrictions
Substantial improvements or repairs may trigger floodplain development requirements.
Future Flooding
The property’s past flood damage is an important warning, but it does not establish the timing or severity of future floods.
Flood Insurance for a Riverfront Home
Flood insurance deserves special attention when evaluating this property.
Standard Homeowners Insurance
Typical homeowners policies generally exclude damage caused by flooding.
Separate Flood Coverage
Flood insurance may be available through eligible programs or private insurers.
Coverage Limits
Policies have specific limits, deductibles, exclusions, and eligibility requirements.
Premium Estimates
Costs depend on property-specific risk factors and coverage choices.
Insurance Availability
Buyers should obtain insurance information before committing to the purchase.
Professional Advice
A licensed insurance professional can explain available options and requirements.
Renovation Financing for Flood-Damaged Homes
Financing a flood-damaged property may be more complicated than financing a move-in-ready home.
Conventional Mortgage Challenges
Lenders often require properties to meet minimum condition standards.
Renovation Loans
Certain financing programs may support eligible rehabilitation projects.
Construction Financing
Extensive reconstruction may require a different loan structure.
Cash Purchase
Some distressed properties attract cash buyers because of financing limitations.
Auction Requirements
The official auction terms may restrict financing contingencies.
Prequalification
Buyers should discuss the property’s condition with potential lenders before bidding.
Understanding the $273,700 Zestimate
The listing displays a Zestimate of $273,700.
Automated Valuation
A Zestimate is an automated estimate, not a professional appraisal.
Flood Damage
The estimate should not be assumed to reflect the full cost or impact of the reported flood damage.
Auction Pricing
The eventual auction result may differ significantly from an automated estimate.
Property Condition
Current condition is essential to any meaningful valuation.
Professional Appraisal
A qualified appraisal may be useful when evaluating the property.
Tax-Assessed Value of $248,600
The listing reports a tax-assessed value of $248,600.
Assessment Versus Market Value
Tax assessments and market values serve different purposes.
Flood Damage
The effect of damage on future assessments should be investigated.
Auction Value
The assessment does not establish the winning bid.
Verification
Buyers should review current official tax records.
Annual Property Taxes of Approximately $2,345
The listing reports annual property taxes of approximately $2,345.
Monthly Equivalent
Dividing the annual amount by twelve gives approximately $195.42 per month.
This is a budgeting calculation rather than the actual billing schedule.
Future Changes
Taxes may change following reassessment or improvements.
Renovation Impact
Major reconstruction may affect future taxable value.
Official Records
Buyers should verify current taxes and any outstanding obligations.
Is This Property a Good Real Estate Investment?
The property may interest investors experienced in distressed residential real estate.
However, investment suitability depends on many factors.
Acquisition Price
The actual purchase price is not established by the estimated $1 display.
Renovation Costs
Flood restoration may require extensive work.
Insurance Expenses
Flood insurance and other coverage can affect ownership costs.
Future Market Value
Resale value depends on market conditions, property condition, and buyer demand.
Rental Possibilities
Any rental strategy would require the home to be legally habitable and compliant with applicable requirements.
Investment Risk
No profit, rental income, or future appreciation is guaranteed.
Budgeting for a Flood-Damaged Property
A realistic budget should include more than the auction bid.
Potential Expenses
- Winning auction bid
- Any applicable buyer’s premium
- Closing costs
- Title examination
- Structural inspection
- Flood damage assessment
- Mold inspection and remediation
- Electrical repairs
- Plumbing repairs
- Heating system replacement
- Air conditioning repairs
- Generator evaluation
- Well testing
- Sewer inspection
- Foundation repairs
- Crawlspace remediation
- Interior demolition
- Flooring replacement
- Drywall replacement
- Kitchen repairs
- Bathroom repairs
- Pool inspection and restoration
- Garage repairs
- Flood insurance
- Property taxes
- Permits
- Professional design services
- Contingency reserve
Why Contingency Funds Matter
Flood-damaged buildings can contain concealed problems.
Written Estimates
Buyers should obtain detailed contractor estimates before establishing a maximum bid.
Important Questions Before Bidding
Prospective buyers should investigate the following:
- What is the official auction date?
- What are the complete auction terms?
- Is there a buyer’s premium?
- What deposit is required?
- Are inspections permitted before bidding?
- How deep was the floodwater inside the home?
- Which rooms were affected?
- How long was the building exposed to water?
- Has professional drying been completed?
- Has mold remediation been performed?
- Are there structural problems?
- What is the condition of the slab foundation?
- What is the condition of the crawlspace?
- Were electrical systems submerged?
- Is the heating system operational?
- Is the central air conditioning system operational?
- Can the Generac generator be repaired?
- Was the swimming pool damaged?
- Is the well water safe?
- Is the public sewer connection functional?
- Are the fireplaces safe to use?
- What floodplain designation applies?
- Is an elevation certificate available?
- What flood insurance coverage is available?
- Will substantial-improvement or substantial-damage rules apply?
- Are any building permits or code violations outstanding?
- Is the property currently legally habitable?
- What is the realistic renovation budget?
- Can financing be obtained?
- What would the property be worth after appropriate repairs?
These questions can help buyers understand the property’s actual risks and financial requirements.
Frequently Asked Questions
Where is the property located?
The property is located at 3700 S Burlington Drive, Muncie, IN 47302.
How much living space does it have?
The listing reports approximately 3,824 square feet.
How many bedrooms are there?
Three bedrooms.
How many bathrooms are there?
One full bathroom and one half bathroom.
When was the home built?
The listing reports 1940.
Is the home on the river?
Yes. It is identified as a White River waterfront property.
How much waterfront frontage is reported?
Approximately 100 feet.
How large is the lot?
Approximately 0.62 acres.
Does the property have a swimming pool?
Yes. An in-ground pool is reported.
Does it have a garage?
Yes. An attached two-car garage is listed.
Was the home damaged by flooding?
Yes. The seller states that the home was damaged during the August floods.
Is the home currently habitable?
The supplied information does not establish that the home is safe or legally habitable.
Is the upstairs bathroom damaged?
The seller reports that the recently remodeled upstairs bathroom was not damaged, but buyers should verify its condition.
Does the home have a generator?
A recently installed Generac generator is reported, but its current functionality is uncertain.
Is the property in a floodplain?
Yes. The listing identifies a floodplain designation.
Is the property really priced at $1?
No verified $1 purchase price is established. It is an auction listing.
What is the Zestimate?
The listing displays $273,700, which is an automated estimate rather than a confirmed sale value.
What are the annual property taxes?
Approximately $2,345, according to the listing.
Final Thoughts: A Large Indiana Riverfront Home With Significant Renovation Challenges
The property at 3700 S Burlington Drive in Muncie, Indiana, combines substantial interior space with a scenic White River setting.
The residence offers approximately 3,824 square feet, three bedrooms, one full bathroom, one half bathroom, two fireplaces, an attached two-car garage, and an in-ground swimming pool.
Its location along the river provides a distinctive setting, and the seller describes the home as having considerable potential for the right buyer.
However, the property suffered damage during the August floods.
This makes structural condition, moisture remediation, electrical safety, mechanical systems, well-water quality, flood insurance, and building regulations central to any purchase decision.
The recently remodeled upstairs bathroom and recently installed generator are noteworthy details, but the generator’s condition remains uncertain.
The listing’s estimated $1 display should not be interpreted as an actual purchase price.
For buyers experienced in major renovation projects, this property may warrant further investigation.
Nevertheless, the financial feasibility of restoring the home depends on the final acquisition price, professional inspection findings, floodplain requirements, and realistic repair costs.
The most important step is to understand the full extent of the damage before bidding.
Final Property Summary
Address: 3700 S Burlington Drive, Muncie, IN 47302
Property Type: Single-Family Residence
Year Built: 1940
Interior Living Area: 3,824 Square Feet
Bedrooms: 3
Bathrooms: 1 Full Bathroom and 1 Half Bathroom
Stories: 2
Lot Size: Approximately 0.62 Acres
Lot Dimensions: Approximately 110 × 245 Feet
Waterfront: Yes
Body of Water: White River
Reported Water Frontage: 100 Feet
Swimming Pool: In-Ground
Garage: Attached, Two-Car
Fireplaces: 2
Heating: Electric, Natural Gas, Forced Air
Cooling: Central Air
Foundation: Slab, With Crawlspace Areas Described
Exterior: Wood Siding
Water: Well
Sewer: Public Sewer
Floodplain: Yes, According to Listing
Condition: Flood-Damaged
Generator: Recently Installed Generac, Current Functionality Uncertain
Upstairs Bathroom: Recently Remodeled, Reportedly Not Flood-Damaged
Annual Property Taxes: Approximately $2,345
Tax-Assessed Value: $248,600
Zestimate: $273,700 — Automated Estimate, Not a Guaranteed Value
Displayed Price: Est. $1 — Auction Listing, Not a Verified Purchase Price
Auction Date: Not Specified in Supplied Excerpt
Listing Agent: James Shroyer
Brokerage: Flesher Brothers Auctioneering and Real Estate Inc
MLS Number: 202645735
Disclaimer: This article is based on the supplied real estate listing and is intended for informational purposes only. The displayed estimated price of $1 is not a verified asking price, minimum bid, or final sale amount. The property is advertised as an auction offering and has reportedly sustained damage during the August floods. The listing identifies the property as being within a floodplain, and the home’s current habitability, structural integrity, mechanical systems, generator condition, swimming pool condition, and well-water safety have not been independently verified. Buyers should investigate floodplain regulations, substantial-damage and substantial-improvement requirements, flood insurance availability, professional restoration estimates, building permits, title conditions, financing eligibility, and official auction terms before making a purchase decision. The Zestimate and tax-assessed value are not guarantees of current market value. No investment return, rental income, or future appreciation is guaranteed. Prospective buyers should consult qualified real estate, legal, engineering, flood restoration, insurance, construction, and financial professionals before purchasing.
Listed on Zillow.
