Two-Unit Duplex
For Sale
$269,900
203 Lincoln Street, Lafayette, IN 47904
INVESTMENT, Two Story, Lafayette, IN
Property Size2,788 SF
Lot Size0.17 Acres
Price / SF$96.81
Days on Market98
Property Features for 203 Lincoln Street
General Information
Property type
Residential Multi Family
Property subtype
Duplex
Bedrooms
6
Bathrooms
2
Full bathrooms
2
Rooms
Bedroom 4, Bedroom 5, Bathroom 2, Basement, Bathroom 1, Bedroom 2, Bedroom 1, Bedroom 6, Bedroom 3
Parking
2
Parking features
Off Street
Lot features
City/ Town/ Suburb, Corner
Elementary school
Murdock
Middle school
Sunnyside/Tecumseh
High school
Jefferson
Elementary school district
Lafayette
Middle school district
Lafayette
High school district
Lafayette
Directions
N 18th St to Douglas, right onto Lincoln, house on left
Subdivision
Tippecanoe County
Standard status
Active
APN
79-07-28-205-002.000-004
Size
2,788 SF
Lot size
0.17 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
E M WEAVERS ADDN N 1/2 LOTS 62 & 63
Legal Description
E M WEAVERS ADDN N 1/2 LOTS 62 & 63
Building Details
Year built
1901
Floors in Building
2
Number of units
2
Flooring type
Laminate, Carpet
Roof type
Shingle
Architectural style
Other
Listing Agency:
Elite Property Mgmt and Realty
(765) 607-4663
Listed By:
Ryan Griswold · License #RB16000796
(765) 426-5502
Added: Jul 8
Changed: Oct 10
Last Checked: Oct 13 at 1:06AM
MLS# 202627197
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 1901, this duplex contains 2,788 square feet of living space across two residences. One unit offers four bedrooms and one full bathroom, while the other includes two bedrooms and one full bathroom. Interior finishes include laminate and carpet flooring, with a shingle roof, basement, and off-street parking.
Both units are fully leased, and tenants pay all utilities. The property is near Columbian Park with access to downtown Lafayette and Purdue University. Shopping and multiple restaurants are within five minutes, while US52, US231, and I-65 provide access to major roadways.
Both units are fully leased, and tenants pay all utilities. The property is near Columbian Park with access to downtown Lafayette and Purdue University. Shopping and multiple restaurants are within five minutes, while US52, US231, and I-65 provide access to major roadways.
Key Highlights
- 2,788 square feet of living space in a duplex built in 1901
- Unit mix includes one 4‑bedroom residence and one 2‑bedroom residence
- Each unit includes 1 full bathroom
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,550
Cap Rate
9.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$491,000
$491.0K
Cap Rate 7%
$350,714
$350.7K
Cap Rate 9%
$272,778
$272.8K
Market Conditions
NOI Build-Up for 2,788 SF
Gross rent
$45.2K $16.20/SF
− Vacancy
−$528 −$0.19/SF
EGI
$44.6K $16.01/SF
− OpEx
−$20.1K −$7.20/SF
NOI
$24.6K $8.81/SF
Area
Tippecanoe County, IN
Vacancy
1.17%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$491,000
Cap Rate 7%
$350,714
Cap Rate 9%
$272,778
Alternative Uses
Best Use
Multifamily LT 5
$380.5K
$332.9K – $443.9K
NOI $26,633 @ 7.0% cap · market cap 9.87%
Second Best
Apartment 5plus
$350.7K
$306.9K – $409.2K
NOI $24,550 @ 7.0% cap · market cap 9.10%
Theoretical Best
Office A
$643.7K
$563.2K – $751.0K
NOI $45,057 @ 7.0% cap · market cap 16.69%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
2
Residential units
100%
Occupancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,102
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
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Frequently Asked Questions
What type of property is this?
Duplex - Fully leased duplex with separate two- and four-bedroom residences and tenant-paid utilities.
Where is this duplex located?
The property is located at 203 Lincoln Street Lafayette, IN.
What is the asking price?
The asking price for this property is $269,900.
What are key features of this property?
This property features: 2,788 square feet of living space in a duplex built in 1901; Unit mix includes one 4‑bedroom residence and one 2‑bedroom residence; Each unit includes 1 full bathroom
