Two-Building 6-Unit
1103 North Street Lafayette, IN 47904
1103 North Street, Lafayette, IN, 47904
$500,000
For Sale
$500,000
Two separate buildings totaling six units on one parcel, with two units currently rented and tenants paying utilities.
Property Size3,870 SF
Price / SF$129.20
Days on Market105
Property Features for 1103 North Street
General Information
- Standard status
- Active
- Size
- 3,870 SF
- Property subtype
- Multi Family / Sixplex
Building Details
- Year Built
- 1880
Listing agency
Indiana Integrity REALTORS
(765) 430-2160
Listed by
Eric Campos · License #RB14052463
(765) 430-2160
Source
Compass
Added: Apr 9 Updated: Jul 22 at 8:43AM Checked: Jul 22 at 8:43AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Indiana Integrity REALTORS
Investment Insights
Based on property information with market context.
This for-sale multifamily investment features six total units across two separate buildings on a single parcel. The duplex was built in 1900 and the fourplex was built in 1880, providing a mix of historic character and functional rental space.
Two units are currently rented. Tenants pay all utilities, which helps shift operating expenses to residents.
The property is configured as a duplex plus a fourplex under one ownership structure, offering a straightforward way to manage multiple tenants within two buildings.
Two units are currently rented. Tenants pay all utilities, which helps shift operating expenses to residents.
The property is configured as a duplex plus a fourplex under one ownership structure, offering a straightforward way to manage multiple tenants within two buildings.
Key Highlights
- 6‑unit investment property on a single parcel with two separate buildings (duplex + fourplex)
- Duplex built in 1900 and fourplex built in 1880
- Two units currently rented; tenants pay all utilities
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $53.4k | $13.80 |
| − Vacancy | −$593 | −$0.15 |
| EGI | $52.8k | $13.65 |
| − OpEx | −$15.8k | −$4.09 |
| NOI | $37.0k | $9.55 |
3,870 SF · lease $13.80/SF/yr · vacancy 1.11% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$528.1K
$462.1K – $616.2K
NOI $36,969 @ 7.0% cap · market cap 7.39%
Second Best
Apartment 5plus
$486.8K
$426.0K – $568.0K
NOI $34,078 @ 7.0% cap · market cap 6.82%
Theoretical Best
Office A
$893.5K
$781.8K – $1.04M
NOI $62,544 @ 7.0% cap · market cap 12.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Two separate buildings totaling six units on one parcel, with two units currently rented and tenants paying utilities.
Where is this duplex located?
The property is located at 1103 North Street Lafayette, IN.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 6‑unit investment property on a single parcel with two separate buildings (duplex + fourplex); Duplex built in 1900 and fourplex built in 1880; Two units currently rented; tenants pay all utilities
