Duplex with Separate Business
For Sale
$329,000
1219 S 4th Street, Lafayette, IN 47905
INVESTMENT, Two Story, Lafayette, IN
Property Size2,080 SF
Lot Size0.15 Acres
Price / SF$158.17
Days on Market66
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 4, Bedroom 3, Bedroom 5, Bedroom 2, Bathroom 1, Basement, Bedroom 1, Bathroom 2
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
in-unit washer/dryer
private patio
covered front porch
Building Details
Year built
1935
Floors in Building
2
Number of units
2
Flooring type
Concrete, Vinyl, Carpet
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 26
Last Checked: Aug 27 at 12:06AM
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.
Built in 1935, this 2,080-square-foot duplex offers two distinct units within a two-story configuration. One side has an open living arrangement and kitchen, while the second includes a living room, kitchen, bedrooms, and multiple levels. Separate entrances support privacy between the units, and both sides include in-unit washers and dryers. Central air, concrete, vinyl, and carpet flooring, plus off-street parking, are already in place. A covered front porch and private side patio add exterior usable space.
The property occupies 0.15 acres at 1219 S 4th Street in Lafayette, Indiana. It is described as being near Purdue University, downtown, bus lines, and the public library. The layout is presented for a configuration combining business use in one unit with rental occupancy in the other, subject to applicable requirements.
The property occupies 0.15 acres at 1219 S 4th Street in Lafayette, Indiana. It is described as being near Purdue University, downtown, bus lines, and the public library. The layout is presented for a configuration combining business use in one unit with rental occupancy in the other, subject to applicable requirements.
Key Highlights
- 2,080‑square‑foot duplex on 0.15 acres
- Two distinct units with separate entrances
- One side offers an open layout with a kitchen
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
$24,898
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
7.57%
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%
$497,960
$498.0K
Cap Rate 7%
$355,686
$355.7K
Cap Rate 9%
$276,644
$276.6K
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
$43.7K $21.00/SF
− Vacancy
−$10.5K −$5.04/SF
EGI
$33.2K $15.96/SF
− OpEx
−$8.3K −$3.99/SF
NOI
$24.9K $11.97/SF
Area
Tippecanoe County, IN
Vacancy
24.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
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%
$497,960
Cap Rate 7%
$355,686
Cap Rate 9%
$276,644
Alternative Uses
Best Use
Office B
$355.7K
$311.2K – $415.0K
NOI $24,898 @ 7.0% cap · market cap 7.57%
Second Best
Multifamily LT 5
$283.9K
$248.4K – $331.2K
NOI $19,870 @ 7.0% cap · market cap 6.04%
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
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 Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two-story property with flexible layouts, in-unit laundry, private patio space, and off-street parking.
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: 2,080‑square‑foot duplex on 0.15 acres; Two distinct units with separate entrances; One side offers an open layout with a kitchen
