Duplex with Covered Front
For Sale
$329,000
1219 S 4th Street, Lafayette, IN 47905
MULTI_FAMILY - Other - Lafayette, IN
Property Size2,080 SF
Lot Size0.15 Acres
Price / SF$158.17
Days on Market50
Property Features for 1219 S 4th Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
5
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 5, Bedroom 2, Bedroom 4, Bedroom 1, Bedroom 3, Bathroom 2, Bathroom 1, Basement
Parking
3
Parking features
Off Street
Basement
Concrete, Block
Lot features
City/ Town/ Suburb, Level
Elementary school
Thomas Miller
Middle school
Sunnyside/Tecumseh
High school
Jefferson
Elementary school district
Lafayette
Middle school district
Lafayette
High school district
Lafayette
Directions
GPS Friendly.
Subdivision
Tippecanoe County
Standard status
Active
APN
79-07-29-459-012.000-004
Size
2,080 SF
Lot size
0.15 Acres
Taxes and HOA fees
Tax Year
2026
Tax Description
KOPF SD LOT 2
Tax Annual Amount
1116
Legal Description
KOPF SD LOT 2
Utilities
Cooling system
Central Air
Amenities
covered front porch
separate entrance
in-unit washers and dryers
private side patio
Building Details
Year built
1935
Floors in Building
2
Number of units
2
Flooring type
Concrete, Carpet, Vinyl
Architectural style
Other
Listing Agency:
Keller Williams Lafayette · Keller Williams Realty
(765) 807-7177
Listed By:
Sherry Cole · License #RB14037843
(765) 426-9442
Added: Jun 23
Changed: Aug 1
Last Checked: Aug 11 at 11:06PM
MLS# 202624714
Copyright © 2026 Lafayette Regional Association of REALTORS®. 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 income-producing duplex offers two separate living areas with practical features for mixed-use or rental purposes. The classic exterior includes a covered front porch and a separate entrance for added privacy. Unit 1 includes a wide-open layout with flexible living space and a functional kitchen setup. Unit 2 features a classic, multi-level layout with a living room, kitchen, and bedroom areas.
Both units include in-unit washers and dryers and a private side patio area for outdoor relaxation. Tenants pay all utilities, helping keep overhead low. Interior finishes include vinyl, carpet, and concrete flooring, and the home has central air for comfort. Additional space includes a basement, and parking is provided off street.
Built in 1935, the property sits on a 0.15-acre lot and contains 2,080 square feet of total space. The building’s configuration supports the option to use one side for business while renting the other.
Both units include in-unit washers and dryers and a private side patio area for outdoor relaxation. Tenants pay all utilities, helping keep overhead low. Interior finishes include vinyl, carpet, and concrete flooring, and the home has central air for comfort. Additional space includes a basement, and parking is provided off street.
Built in 1935, the property sits on a 0.15-acre lot and contains 2,080 square feet of total space. The building’s configuration supports the option to use one side for business while renting the other.
Key Highlights
- 0.15‑acre lot with 2,080 square feet total
- Built in 1935 duplex
- Covered front porch and separate entrance
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
6.04%
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 6.04%
Second Best
Apartment 5plus
$261.7K
$229.0K – $305.3K
NOI $18,316 @ 7.0% cap · market cap 5.57%
Theoretical Best
Office A
$480.2K
$420.2K – $560.3K
NOI $33,615 @ 7.0% cap · market cap 10.22%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,687
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 - Income-producing duplex with in-unit washers and dryers, central air, and off-street parking on a 0.15-acre lot.
Where is this duplex located?
The property is located at 1219 S 4th Street Lafayette, IN.
What is the asking price?
The asking price for this property is $329,000.
What are key features of this property?
This property features: 0.15‑acre lot with 2,080 square feet total; Built in 1935 duplex; Covered front porch and separate entrance
