Three-Unit Residential
New
For Sale
$475,000
812 Vine Street, West Lafayette, IN 47906
A compact unit mix includes two one-bedroom residences and one two-bedroom residence.
Property Size1,680 SF
Price / SF$282.74
Days on Market4
Property Features for 812 Vine Street
General Information
Standard status
Active
Size
1,680 SF
Property subtype
Multifamily
Units
Unit Mix
2 x 1BR, 1 x 2BR
Multifamily Units
3
Building Details
Year Built
1938
Listing Agency:
@properties
Listed By:
Cathy Russell · License #RB14004908
(765) 426-7000
Source:
Jmrealtyonline
Added: Oct 26
Changed: Oct 28
Last Checked: Oct 28 at 3:53PM
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 @properties
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Investment Insights
Based on property information with market context.
This 1,680-square-foot triplex contains three residences: two one-bedroom units and one two-bedroom unit. Built in 1938, the property offers a defined residential layout with a mix of smaller and larger units.
The building is at 812 Vine Street in West Lafayette, within walking distance of Purdue University. Shopping, dining, and parks are also identified nearby.
The building is at 812 Vine Street in West Lafayette, within walking distance of Purdue University. Shopping, dining, and parks are also identified nearby.
Key Highlights
- Three units: two 1‑bedroom residences and one 2‑bedroom residence
- 1,680 square feet
- Built in 1938
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$16,049
Cap Rate
3.38%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$320,980
$321.0K
Cap Rate 7%
$229,271
$229.3K
Cap Rate 9%
$178,322
$178.3K
Market Conditions
NOI Build-Up for 1,680 SF
Gross rent
$23.2K $13.80/SF
− Vacancy
−$257 −$0.15/SF
EGI
$22.9K $13.65/SF
− OpEx
−$6.9K −$4.09/SF
NOI
$16.0K $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%
$320,980
Cap Rate 7%
$229,271
Cap Rate 9%
$178,322
Alternative Uses
Best Use
Multifamily LT 5
$229.3K
$200.6K – $267.5K
NOI $16,049 @ 7.0% cap · market cap 3.38%
Second Best
Apartment 5plus
$211.3K
$184.9K – $246.6K
NOI $14,794 @ 7.0% cap · market cap 3.11%
Theoretical Best
Office A
$387.9K
$339.4K – $452.5K
NOI $27,151 @ 7.0% cap · market cap 5.72%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
890
Businesses Nearby
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Business Placement
Demographics for 47906, IN
73,579
Population
28,658
Households
2.6
Avg Household Size
26
Median Age
62%
College-Educated
96%
High-School Grad
133.6 sq mi
ZIP Area
551
Density / Sq Mi
$51,736
Median Household Income
$18,528
Median Earnings
$1,157
Median Rent
$280,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Triplex - A compact unit mix includes two one-bedroom residences and one two-bedroom residence.
Where is this triplex located?
The property is located at 812 Vine Street West Lafayette, IN.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Three units: two 1‑bedroom residences and one 2‑bedroom residence; 1,680 square feet; Built in 1938
