Tenant-Occupied Duplex
127 S 31st Street Lafayette, IN 47904
New
127 S 31st Street, Lafayette, IN, 47904
$279,000
For Sale
$279,000
MULTI_FAMILY - Other - Lafayette, IN
Property Size2,532 SF
Lot Size14.00 Acres
Price / SF$110.19
Days on Market1
Property Features for 127 S 31st Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Duplex
- Bedrooms
- 4
- Bathrooms
- 2
- Rooms
- Bedroom 1, Bathroom 1, Bathroom 2, Bedroom 4, Basement, Bedroom 2, Bedroom 3
- Parking
- 3
- Parking features
- Off Street
- Basement
- Block
- Standard status
- Active
- APN
- 79-07-27-127-016.000-004
- Size
- 2,532 SF
- Lot size
- 14.00 Acres
Taxes and HOA fees
- Tax Year
- 2026
- Tax Description
- Lafayette-Fairfield TWP LSC B
Utilities
- Cooling system
- Central Air
Building Details
- Year built
- 1945
- Floors in Building
- 1
- Number of units
- 2
- Flooring type
- Wood
- Roof type
- Shingle
- Architectural style
- Other
Listing agency
Keller Williams Lafayette
(765) 807-7177
Listed by
Amy Bray
(765) 650-6329
Added: Jul 22 Checked: Jul 22 at 6:06PM
MLS# 202629429
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 property is a duplex with two separate units: Duplex 1 (rear) and Duplex 2 (front). Both units are currently tenant-occupied. Duplex 1 is on a lease through July 2027, while Duplex 2 is month-to-month. Washer and dryer are tenant-owned and do not convey.
The units have off-street parking for each duplex. Tenants pay all utilities.
The property is presented for sale as a residential income asset with separate operating terms for each unit.
The units have off-street parking for each duplex. Tenants pay all utilities.
The property is presented for sale as a residential income asset with separate operating terms for each unit.
Key Highlights
- Tenant‑occupied duplex with both units generating monthly income: $1,000 for Duplex 1 and $1,100 for Duplex 2
- Duplex 1 (rear) lease through July 2027
- Duplex 2 (front) is month‑to‑month
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 | $34.9k | $13.80 |
| − Vacancy | −$388 | −$0.15 |
| EGI | $34.6k | $13.65 |
| − OpEx | −$10.4k | −$4.09 |
| NOI | $24.2k | $9.55 |
2,532 SF · lease $13.80/SF/yr · vacancy 1.11% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$345.5K
$302.4K – $403.1K
NOI $24,188 @ 7.0% cap · market cap 8.67%
Second Best
Apartment 5plus
$318.5K
$278.7K – $371.6K
NOI $22,296 @ 7.0% cap · market cap 7.99%
Theoretical Best
Office A
$584.6K
$511.5K – $682.0K
NOI $40,920 @ 7.0% cap · market cap 14.67%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Duplex - Two tenant-occupied duplex units offer off-street parking for each side and separate rental payment terms.
Where is this duplex located?
The property is located at 127 S 31st Street Lafayette, IN.
What is the asking price?
The asking price for this property is $279,000.
What are key features of this property?
This property features: Tenant‑occupied duplex with both units generating monthly income: $1,000 for Duplex 1 and $1,100 for Duplex 2; Duplex 1 (rear) lease through July 2027; Duplex 2 (front) is month‑to‑month
