Updated Two-Unit
New
For Sale
$349,999
2417 State Street, Lafayette, IN 47905
Both residences include private garages, and each has two bedrooms and one-and-a-half bathrooms.
Property Size2,362 SF
Price / SF$148.18
Days on Market6
Property Features for 2417 State Street
General Information
Standard status
Active
Size
2,362 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Parking per Unit
1
Building Details
Year Built
1978
Buildings
1
Listing Agency:
Exp Realty, LLC
(812) 215-1057
Listed By:
Carson and Lisa Lowry Real Estate
(812) 305-4663
Source:
Carsonlowryrealestate
Added: Oct 1
Changed: Oct 6
Last Checked: Oct 5 at 6:13PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Exp Realty, LLC
Investment Insights
Based on property information with market context.
This 2,362-square-foot duplex contains two units, each configured with two bedrooms, one-and-a-half bathrooms, and a one-car garage. Recent work includes a new roof, HVAC, kitchens, bathrooms, flooring, and paint. Each unit also includes an appliance package.
Built in 1978, the property is located at 2417 State Street in Lafayette, Indiana.
Built in 1978, the property is located at 2417 State Street in Lafayette, Indiana.
Key Highlights
- Two units, each with 2 bedrooms and 1.5 bathrooms
- One‑car garage for each unit
- New roof, HVAC, kitchens, bathrooms, flooring, and paint
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,564
Cap Rate
6.45%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$451,280
$451.3K
Cap Rate 7%
$322,343
$322.3K
Cap Rate 9%
$250,711
$250.7K
Market Conditions
NOI Build-Up for 2,362 SF
Gross rent
$32.6K $13.80/SF
− Vacancy
−$362 −$0.15/SF
EGI
$32.2K $13.65/SF
− OpEx
−$9.7K −$4.09/SF
NOI
$22.6K $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%
$451,280
Cap Rate 7%
$322,343
Cap Rate 9%
$250,711
Alternative Uses
Best Use
Multifamily LT 5
$322.3K
$282.1K – $376.1K
NOI $22,564 @ 7.0% cap · market cap 6.45%
Second Best
Apartment 5plus
$297.1K
$260.0K – $346.7K
NOI $20,799 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$545.3K
$477.2K – $636.2K
NOI $38,173 @ 7.0% cap · market cap 10.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
462
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
Check the figures for this property
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 - Both residences include private garages, and each has two bedrooms and one-and-a-half bathrooms.
Where is this duplex located?
The property is located at 2417 State Street Lafayette, IN.
What is the asking price?
The asking price for this property is $349,999.
What are key features of this property?
This property features: Two units, each with 2 bedrooms and 1.5 bathrooms; One‑car garage for each unit; New roof, HVAC, kitchens, bathrooms, flooring, and paint
