Duplex with In-Unit
For Sale
$354,900
1219 S 4th St, Lafayette, IN 47905
Two separate units offer flexible layouts, private outdoor space, and tenant-paid utilities.
Property Size2,080 SF
Price / SF$170.63
Days on Market41
Property Features for 1219 S 4th St
General Information
Standard status
Active
Size
2,080 SF
Property subtype
Multi-Family
Additional Details
Public Transit
Yes
Multifamily Units
2
Amenities
in-unit washers and dryers
private side patio area
covered front porch
Building Details
Year Built
1935
Buildings
1
Listing Agency:
Keller Williams Lafayette
(765) 807-7177
Listed By:
Sherry Cole · License #RB14037843
Source:
Caryteamrealty
Added: Jul 21
Changed: Aug 29
Last Checked: Aug 29 at 11:22PM
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 Keller Williams Lafayette
Investment Insights
Based on property information with market context.
This 2,080-square-foot duplex, built in 1935, contains two distinct residential units with different layouts. One side offers an open interior arrangement and kitchen, while the other includes a multilevel plan with a living room, kitchen, and bedrooms. A covered front porch, separate entrance, in-unit washers and dryers, and a private side patio add practical features for occupants. Tenants are responsible for all utilities.
The property is located at 1219 S 4th St in Lafayette, near Purdue University, downtown, bus lines, and the public library. Its two-unit configuration supports residential rental use, with the source information also identifying the possibility of occupying one side while using the other for a business.
The property is located at 1219 S 4th St in Lafayette, near Purdue University, downtown, bus lines, and the public library. Its two-unit configuration supports residential rental use, with the source information also identifying the possibility of occupying one side while using the other for a business.
Key Highlights
- 2,080 SF duplex at 1219 S 4th St, Lafayette, IN 47905
- Built in 1935
- Two units with distinct interior layouts
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
$19,870
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
5.60%
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%
$397,400
$397.4K
Cap Rate 7%
$283,857
$283.9K
Cap Rate 9%
$220,778
$220.8K
Market Conditions
NOI Build-Up for 2,080 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
$28.7K $13.80/SF
− Vacancy
−$319 −$0.15/SF
EGI
$28.4K $13.65/SF
− OpEx
−$8.5K −$4.09/SF
NOI
$19.9K $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%
$397,400
Cap Rate 7%
$283,857
Cap Rate 9%
$220,778
Alternative Uses
Best Use
Multifamily LT 5
$283.9K
$248.4K – $331.2K
NOI $19,870 @ 7.0% cap · market cap 5.60%
Second Best
Apartment 5plus
$261.7K
$229.0K – $305.3K
NOI $18,316 @ 7.0% cap · market cap 5.16%
Theoretical Best
Office A
$480.2K
$420.2K – $560.3K
NOI $33,615 @ 7.0% cap · market cap 9.47%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
249
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
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separate units offer flexible layouts, private outdoor space, and tenant-paid utilities.
Where is this duplex located?
The property is located at 1219 S 4th St Lafayette, IN.
What is the asking price?
The asking price for this property is $354,900.
What are key features of this property?
This property features: 2,080 SF duplex at 1219 S 4th St, Lafayette, IN 47905; Built in 1935; Two units with distinct interior layouts
