Two-Unit Rental
637 Park Avenue Lafayette, IN 47904
For Sale
$275,000
Two-unit rental duplex with 2 bedrooms and 1 full bath per unit, including washer/dryer hookups in one unit.
Property Size1,471 SF
Price / SF$186.95
Days on Market253
Property Features for 637 Park Avenue
General Information
- Standard status
- Active
- Size
- 1,471 SF
- Property subtype
- Multi Family / Duplex
Building Details
- Year Built
- 1901
Listing Agency:
The Russell Company
(765) 426-7000
Listed By:
Cathy Russell · License #RB14004908
(765) 426-7000
Source:
Compass
Added: Nov 12, 2025
Changed: Jul 22
Last Checked: Jul 22 at 8:42PM
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 The Russell Company
Investment Insights
Based on property information with market context.
This two-unit rental duplex offers income-producing residential space with two bedrooms and one full bath in each unit. One unit includes washer/dryer hookups. The property also includes one tenant already in place through June 2026, with the second unit providing flexibility for owner occupancy or additional leasing.
Located at 637 Park Avenue in Lafayette, Indiana, the duplex is offered for sale as a straightforward, ready-to-show residential income property.
Each unit is configured as a 2-bedroom, 1-bath layout, with laundry hookups in one of the units.
Located at 637 Park Avenue in Lafayette, Indiana, the duplex is offered for sale as a straightforward, ready-to-show residential income property.
Each unit is configured as a 2-bedroom, 1-bath layout, with laundry hookups in one of the units.
Key Highlights
- Two‑unit rental duplex in Lafayette
- Each unit has 2 bedrooms and 1 full bath (4 bedrooms total, 2 full baths total)
- Washer/dryer hookups available in one unit; basement present
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 | $20.3k | $13.80 |
| − Vacancy | −$225 | −$0.15 |
| EGI | $20.1k | $13.65 |
| − OpEx | −$6.0k | −$4.09 |
| NOI | $14.1k | $9.55 |
1,471 SF · lease $13.80/SF/yr · vacancy 1.11% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$200.7K
$175.7K – $234.2K
NOI $14,052 @ 7.0% cap · market cap 5.11%
Second Best
Apartment 5plus
$185.0K
$161.9K – $215.9K
NOI $12,953 @ 7.0% cap · market cap 4.71%
Theoretical Best
Office A
$339.6K
$297.2K – $396.2K
NOI $23,773 @ 7.0% cap · market cap 8.64%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Two-unit rental duplex with 2 bedrooms and 1 full bath per unit, including washer/dryer hookups in one unit.
Where is this duplex located?
The property is located at 637 Park Avenue Lafayette, IN.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: Two‑unit rental duplex in Lafayette; Each unit has 2 bedrooms and 1 full bath (4 bedrooms total, 2 full baths total); Washer/dryer hookups available in one unit; basement present
