Two-Unit Duplex with New
521 S 16th Street, Lafayette, IN 47905
For Sale
New
$259,900
INVESTMENT, Two and Half Story, Lafayette, IN
Property Size1,864 SF
Lot Size0.15 Acres
Price / SF$139.43
Days on Market4
Property Features for 521 S 16th Street
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Half bathrooms
Rooms
Parking
Parking features
Basement
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
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Cooling system
Building Details
Year built
Floors in Building
Number of units
Flooring type
Roof type
Architectural style
Listing Agency:
Trueblood Real Estate
(765) 838-1998
Listed By:
Tim Meyers
(765) 479-1856
Added: Nov 11
Changed: Nov 13
Last Checked: Nov 14 at 12:06AM
MLS# 202646569
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 duplex contains two three-bedroom units within 1,864 square feet. Built in 1920, the property has carpet and vinyl flooring, central air, and off-street parking. A new shingle and asphalt roof has been installed. The lower unit includes a room previously used as a greenhouse, offering additional interior space that could be finished for living area.
The 0.15-acre property is located at 521 S 16th Street in Lafayette, Indiana. One residence is leased through the end of April, while the other is occupied on a month-to-month basis. The property is offered as-is, and inspections are welcome.
The 0.15-acre property is located at 521 S 16th Street in Lafayette, Indiana. One residence is leased through the end of April, while the other is occupied on a month-to-month basis. The property is offered as-is, and inspections are welcome.
Key Highlights
- Two 3‑bedroom units in 1,864 square feet
- New shingle and asphalt roof
- One unit leased through the end of April; the other is month to month
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$17,806
Cap Rate
6.85%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$356,120
$356.1K
Cap Rate 7%
$254,371
$254.4K
Cap Rate 9%
$197,844
$197.8K
Market Conditions
NOI Build-Up for 1,864 SF
Gross rent
$25.7K $13.80/SF
− Vacancy
−$286 −$0.15/SF
EGI
$25.4K $13.65/SF
− OpEx
−$7.6K −$4.09/SF
NOI
$17.8K $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%
$356,120
Cap Rate 7%
$254,371
Cap Rate 9%
$197,844
Alternative Uses
Best Use
Multifamily LT 5
$254.4K
$222.6K – $296.8K
NOI $17,806 @ 7.0% cap · market cap 6.85%
Second Best
Apartment 5plus
$234.5K
$205.2K – $273.6K
NOI $16,414 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$430.3K
$376.6K – $502.1K
NOI $30,124 @ 7.0% cap · market cap 11.59%
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
910
Businesses Nearby
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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
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Duplex - Two three-bedroom residences offer flexible occupancy, with one lease ending in April and the other on a month-to-month basis.
Where is this duplex located?
The property is located at 521 S 16th Street Lafayette, IN.
What is the asking price?
The asking price for this property is $259,900.
What are key features of this property?
This property features: Two 3‑bedroom units in 1,864 square feet; New shingle and asphalt roof; One unit leased through the end of April; the other is month to month
