Two-Story Duplex With
1413 Morton Street, Lafayette, IN 47904
For Sale
New
$210,000
INVESTMENT, Two Story, Lafayette, IN
Property Size1,780 SF
Lot Size0.15 Acres
Price / SF$117.98
Days on Market4
Property Features for 1413 Morton Street
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Lot features
Elementary school
Middle school
High school
Elementary school district
Middle school district
High school district
Directions
Subdivision
Standard status
APN
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Building Details
Year built
Floors in Building
Number of units
Flooring type
Architectural style
Listing Agency:
Indiana Integrity REALTORS
(765) 607-4070
Listed By:
Mary Holtz · License IN RB14023438
(765) 532-6901
Added: Nov 11
Last Checked: Nov 14 at 12:06AM
MLS# 202646337
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.
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Investment Insights
Based on property information with market context.
This two-story duplex offers 1,780 square feet across two residential units on a 0.147-acre lot. Both units have been updated, with laminate and vinyl flooring. A garage is also part of the property and can be rented separately. The building dates to 1910.
The property is at 1413 Morton Street in Lafayette, with bus service and shopping nearby. Purdue University is a short drive away.
The property is at 1413 Morton Street in Lafayette, with bus service and shopping nearby. Purdue University is a short drive away.
Key Highlights
- Two residential units in a two‑story duplex
- 1,780 square feet on a 0.147‑acre lot
- Both units updated; laminate and vinyl flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,004
Cap Rate
8.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$340,080
$340.1K
Cap Rate 7%
$242,914
$242.9K
Cap Rate 9%
$188,933
$188.9K
Market Conditions
NOI Build-Up for 1,780 SF
Gross rent
$24.6K $13.80/SF
− Vacancy
−$273 −$0.15/SF
EGI
$24.3K $13.65/SF
− OpEx
−$7.3K −$4.09/SF
NOI
$17.0K $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 Rate 5%
$340,080
Cap Rate 7%
$242,914
Cap Rate 9%
$188,933
Alternative Uses
Best Use
Multifamily LT 5
$242.9K
$212.6K – $283.4K
NOI $17,004 @ 7.0% cap · market cap 8.10%
Second Best
Apartment 5plus
$223.9K
$195.9K – $261.2K
NOI $15,674 @ 7.0% cap · market cap 7.46%
Theoretical Best
Office A
$411.0K
$359.6K – $479.5K
NOI $28,767 @ 7.0% cap · market cap 13.70%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
807
Businesses Nearby
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Business Placement
Demographics for 47904, IN
16,571
Population
7,776
Households
2.1
Avg Household Size
34
Median Age
19%
College-Educated
84%
High-School Grad
5.8 sq mi
ZIP Area
2,857
Density / Sq Mi
$46,841
Median Household Income
$34,455
Median Earnings
$965
Median Rent
$118,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two updated units provide a live-in-and-rent configuration, with a garage that can also be rented.
Where is this duplex located?
The property is located at 1413 Morton Street Lafayette, IN.
What is the asking price?
The asking price for this property is $210,000.
What are key features of this property?
This property features: Two residential units in a two‑story duplex; 1,780 square feet on a 0.147‑acre lot; Both units updated; laminate and vinyl flooring
