Updated Duplex with
New
For Sale
$289,900
1019 Courtland Avenue, Lafayette, IN 47905
INVESTMENT, Two Story, Lafayette, IN
Property Size2,300 SF
Lot Size0.34 Acres
Price / SF$126.04
Days on Market2
Property Features for 1019 Courtland Avenue
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 4, Bathroom 2, Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 1, Bedroom 3, Bedroom 5, Bathroom 3, Bedroom 6
Parking
2
Subdivision
Potters Hollow
Lot features
Partially Wooded
Elementary school
Glen Acres
Middle school
Sunnyside/Tecumseh
High school
Jefferson
Elementary school district
Lafayette
Middle school district
Lafayette
High school district
Lafayette
Directions
From Creasy Lane, turn west onto Rome Drive. Turn left onto Courtland Avenue and continue to 1019 Courtland Avenue. The property will be on your right.
Standard status
Active
APN
79-07-23-226-036.000-004
Size
2,300 SF
Lot size
0.34 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
POTTER HOLLOW S SD PT 7 LOT 177ANNEXED FROM 102-00551-0035
Tax Annual Amount
3000
Legal Description
POTTER HOLLOW S SD PT 7 LOT 177ANNEXED FROM 102-00551-0035
Utilities
Cooling system
Central Air
Amenities
laundry
private backyard
Building Details
Year built
1984
Floors in Building
2
Number of units
2
Flooring type
Tile, Carpet, Laminate
Architectural style
Other
Listing Agency:
Highgarden Real Estate
(317) 205-4320
Listed By:
Denice Froiland
(970) 818-6773
Added: Sep 17
Changed: Sep 18
Last Checked: Sep 18 at 10:06AM
MLS# 202638593
Copyright © 2026 Upstate Alliance of REALTORS® Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This side-by-side duplex contains 2,300 square feet across two residences, with approximately 1,150 square feet per unit. Each home offers three bedrooms, two full bathrooms, an open living arrangement with vaulted ceilings, and its own laundry area. Recent improvements include new flooring, fresh interior paint, and updated bathrooms. Both units also have an attached one-car garage and access to a private backyard.
Built in 1984 on a 0.3371-acre lot, the property is located at 1019 Courtland Avenue in Lafayette, Indiana. Central air serves the residences, and flooring includes laminate, carpet, and tile. One unit is leased through February, while the other is available for a new tenant or an owner occupant.
Built in 1984 on a 0.3371-acre lot, the property is located at 1019 Courtland Avenue in Lafayette, Indiana. Central air serves the residences, and flooring includes laminate, carpet, and tile. One unit is leased through February, while the other is available for a new tenant or an owner occupant.
Key Highlights
- Two side‑by‑side units totaling 2,300 square feet
- Approximately 1,150 square feet per unit, with 3 bedrooms and 2 full bathrooms each
- New flooring and fresh paint completed throughout both residences
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$21,971
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.58%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$439,420
$439.4K
Cap Rate 7%
$313,871
$313.9K
Cap Rate 9%
$244,122
$244.1K
Market Conditions
NOI Build-Up for 2,300 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$31.7K $13.80/SF
− Vacancy
−$352 −$0.15/SF
EGI
$31.4K $13.65/SF
− OpEx
−$9.4K −$4.09/SF
NOI
$22.0K $9.55/SF
Area
Tippecanoe County, IN
Vacancy
1.11%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$439,420
Cap Rate 7%
$313,871
Cap Rate 9%
$244,122
Alternative Uses
Best Use
Multifamily LT 5
$313.9K
$274.6K – $366.2K
NOI $21,971 @ 7.0% cap · market cap 7.58%
Second Best
Apartment 5plus
$289.3K
$253.2K – $337.6K
NOI $20,253 @ 7.0% cap · market cap 6.99%
Theoretical Best
Office A
$531.0K
$464.6K – $619.5K
NOI $37,171 @ 7.0% cap · market cap 12.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
144
Businesses Nearby
Explore this area
Business Placement
Demographics for 47905, IN
41,787
Population
18,309
Households
2.3
Avg Household Size
37
Median Age
32%
College-Educated
91%
High-School Grad
120.4 sq mi
ZIP Area
347
Density / Sq Mi
$63,115
Median Household Income
$41,595
Median Earnings
$1,101
Median Rent
$215,500
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Side-by-side residences feature open layouts, private outdoor space, and separate laundry for each household.
Where is this duplex located?
The property is located at 1019 Courtland Avenue Lafayette, IN.
What is the asking price?
The asking price for this property is $289,900.
What are key features of this property?
This property features: Two side‑by‑side units totaling 2,300 square feet; Approximately 1,150 square feet per unit, with 3 bedrooms and 2 full bathrooms each; New flooring and fresh paint completed throughout both residences
