Triplex With Spacious
New
For Sale
$245,000
712 S 5th Street, Lafayette, IN 47905
Two-level rental property with separate units, tenant-paid utility inclusion, and access to downtown and campus.
Property Size2,056 SF
Price / SF$119.16
Days on Market5
Property Features for 712 S 5th Street
General Information
Standard status
Active
Size
2,056 SF
Property subtype
Multi-Family
Additional Details
Gross Income
$36,600
Utilities to Site
Yes
Multifamily Units
3
Amenities
backyard
Building Details
Year Built
1930
Listing Agency:
F.C. Tucker Realty Center
(765) 661-0379
Listed By:
Carson and Lisa Lowry Real Estate
(812) 305-4663
Source:
Carsonlowryrealestate
Added: Sep 7
Changed: Sep 10
Last Checked: Sep 11 at 8:32AM
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 F.C. Tucker Realty Center
Investment Insights
Based on property information with market context.
This 2,056-square-foot triplex was built in 1930 and includes two units on the main floor plus a third unit upstairs. Utilities are included in tenant rent, and the property features a backyard serving the residential occupants. Two units are actively rented, while the remaining unit has recently become vacant and is being marketed.
Located at 712 S 5th Street, the property sits off Kossith Street near the historic downtown area. The setting is on a quiet street, with access to downtown amenities and a bridge connection to campus. Tenant access requires 24 hours’ notice.
Located at 712 S 5th Street, the property sits off Kossith Street near the historic downtown area. The setting is on a quiet street, with access to downtown amenities and a bridge connection to campus. Tenant access requires 24 hours’ notice.
Key Highlights
- 2,056 SF triplex built in 1930
- Two main‑floor units plus one upstairs unit
- Two units actively rented; one recently vacant and being marketed
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$19,641
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.02%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$392,820
$392.8K
Cap Rate 7%
$280,586
$280.6K
Cap Rate 9%
$218,233
$218.2K
Market Conditions
NOI Build-Up for 2,056 SF
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.
Gross rent
$28.4K $13.80/SF
− Vacancy
−$315 −$0.15/SF
EGI
$28.1K $13.65/SF
− OpEx
−$8.4K −$4.09/SF
NOI
$19.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$392,820
Cap Rate 7%
$280,586
Cap Rate 9%
$218,233
Alternative Uses
Best Use
Multifamily LT 5
$280.6K
$245.5K – $327.4K
NOI $19,641 @ 7.0% cap · market cap 8.02%
Second Best
Apartment 5plus
$258.6K
$226.3K – $301.8K
NOI $18,105 @ 7.0% cap · market cap 7.39%
Theoretical Best
Office A
$474.7K
$415.3K – $553.8K
NOI $33,227 @ 7.0% cap · market cap 13.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
319
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
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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?
Triplex - Two-level rental property with separate units, tenant-paid utility inclusion, and access to downtown and campus.
Where is this triplex located?
The property is located at 712 S 5th Street Lafayette, IN.
What is the asking price?
The asking price for this property is $245,000.
What are key features of this property?
This property features: 2,056 SF triplex built in 1930; Two main‑floor units plus one upstairs unit; Two units actively rented; one recently vacant and being marketed
