1210 S 5th St · Lafayette, IN 47905

$180,000

4 bd · 1.0 ba · 2,143 sqft · SingleFamily public records · 18 Days on market

Built 1900 6,500 sqft lot Est $321k · 44% under

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Why this score? — see what drove the C+ grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +23.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.5/10.0
• 1% rule +5.1/10.0
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Opportunity awaits his 4-bedroom, 2-bath home with over 2,000 square feet and is ready for someone with vision to bring it back to life. Featuring spacious living areas, a basement, and 1 car detached garage, this property has the space and layout to create something truly special. The home does need repairs and updating, making it a great fit for investors, flippers, or buyers looking for a renovation project with upside potential. With some work and creativity, this property could be transformed into a beautiful home or profitable investment. Don't miss your chance to restore the charm and value of this Lafayette property.

Key facts

• 6,500 sq ft lot
• Garage
• Built 1900

Property features AI

Exterior

• Parking: Detached garage; 1 garage space
• Utilities: Public water; Public sewer
• Home design: Two-story house; Built in 1900
• Construction: Unfinished basement
• Exterior features: Neighborhood view

Interior

• Kitchen: Gas cooktop; Refrigerator
• Bedrooms: Primary bedroom; Bedroom 2; Bedroom 3; Bedroom 4
• Bathrooms: 2 full bathrooms
• Heating & cooling: Forced air heating; Central air conditioning; Ceiling fans
• Interior features: Ceiling fans
• Laundry & utility: Unfinished basement (utility/storage space)

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $326 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $180k).
• Recommended offer: $177k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.5% vs local median 4.2% in Lafayette — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 74/100 on livability (#68 in IN, #4,374 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: schools D+, amenities D+, employment D+.
• Lafayette School Corporation (urban): math 29% / reading 34% proficiency, ranked #235 of 301 in IN (top 78%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 63% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising fast (+5.1%/yr); 219 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); 1,341 units permitted in Tippecanoe County in 2024 (869 in 5+ unit buildings).
• This rent runs 33% of the median local income ($66k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k of value loss. Plan a longer hold.
• Tippecanoe County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (-3.0% appreciation + 5.1% rent growth), your $50k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 18 days — a 2% lower offer ($177k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $177,300 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.01% ✓
• Cap rate: 8.47%
• Cash-on-cash: 7.77%
• DSCR: 1.35
• GRM: 8.3

CMA / ARV

• ARV (on-the-fly): $321,450
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1607 S 4th St	0.25mi	4/1.0	2,240 (+4%)	4mo	$275,000	$123	78
814 Highland Ave	0.31mi	4/2.5	2,176 (+2%)	4mo	$520,000	$239	74
506 Romig St	0.63mi	3/1.0 (-1)	2,144 (0%)	0mo	$30,000	$14	65
220 Hickory St	0.13mi	3/2.0 (-1)	1,928 (-10%)	5mo	$200,000	$104	64
1111 S 14th St	0.57mi	3/2.0 (-1)	2,132 (-0%)	4mo	$275,000	$129	60
1209 King St	0.50mi	4/1.5	1,904 (-11%)	2mo	$200,000	$105	55
1501 El Prado Ave	0.69mi	3/2.0 (-1)	2,104 (-2%)	4mo	$250,000	$119	53
1314 Oak Ave	0.60mi	4/2.5	2,297 (+7%)	2mo	$345,000	$150	52
2065 S 9th St	0.63mi	3/1.5 (-1)	1,960 (-8%)	0mo	$297,000	$152	49
599 S 3rd St	0.43mi	3/3.0 (-1)	1,932 (-10%)	3mo	$350,000	$181	48
1400 Adams St	0.61mi	4/3.0	2,348 (+10%)	1mo	$376,000	$160	47
1429 Stanforth Ave	0.66mi	3/2.5 (-1)	1,883 (-12%)	3mo	$295,000	$157	36

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 5.12% rent growth · sell at horizon

5-year hold

• IRR: -2.3%
• Equity multiple: 0.91×
• Total profit: $-4,488
• Equity at exit: $26,839

10-year hold

• IRR: 9.4%
• Equity multiple: 1.78×
• Total profit: $39,536
• Equity at exit: $15,563

Cash invested: $50,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 90 Strongly Landlord-Friendly
• State Indiana: 90 Strongly Landlord-Friendly · R+11
• County: — inherits STATE
• City: — inherits STATE

10-day pay-or-quit; landlord-favorable; preempted.

Methodology + full state rankings →

ZIP-level market 47905

• Home prices YoY: -33.2%
• Rents YoY: 5.1%
• Active inventory: 219
• Price-to-rent: 8.3×

Monthly cashflow live

• Estimated rent: $1,811 medium
• Mortgage (P&I): −$944
• Tax from tax record: −$85 /mo · $1,025/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$380
• Net cashflow: $326

Break-even live

Break-even rent $1,398

Max offer price $180,000

Occupancy floor 77%

Sensitivity live

Price	-10% $428	-5% $377	+0% $326	+5% $276	+10% $225
Rent	-10% $183	-5% $255	+0% $326	+5% $398	+10% $470
Rate	-1.0pp $417	-0.5pp $372	base $326	+0.5pp $280	+1.0pp $232

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
6 S 4th St Lafayette, IN	1.0–3.0	1.0–3.0	1102	$1,649	$1.50	14d	1	0.84mi
224 S 14th St Lafayette, IN	4.0	2.0	1900	$1,810	$0.95	14d	1	0.85mi
1213 S 19th St Lafayette, IN	3.0	2.0	1484	$1,900	$1.28	14d	1	0.88mi

Listing history 14 events

1. 2026-06-19
   days on market $180,000 Active 18 DOM
2. 2026-06-18
   days on market $180,000 Active 17 DOM
3. 2026-06-17
   days on market $180,000 Active 16 DOM
4. 2026-06-16
   days on market $180,000 Active 15 DOM
5. 2026-06-15
   days on market $180,000 Active 14 DOM
6. 2026-06-14
   days on market $180,000 Active 12 DOM
7. 2026-06-13
   days on market $180,000 Active 11 DOM
8. 2026-06-10
   days on market $180,000 Active 9 DOM
9. 2026-06-09
   days on market $180,000 Active 8 DOM
10. 2026-06-08
    days on market $180,000 Active 7 DOM
11. 2026-06-07
    days on market $180,000 Active 6 DOM
12. 2026-06-03
    price $180,000 Active 1 DOM
13. 2026-06-02
    remarks 632-char remark
14. 2026-06-02
    listed $108,000 Active 1 DOM

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $1,025 · $85/mo
• Projected year-2 tax: $1,277 · $106/mo
• Expected delta: +$253/yr (+$21/mo · 24.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $21,734
• − Mortgage interest: −$10,083
• − Property taxes: −$1,025
• − Insurance: −$900
• − Repairs & maintenance: −$1,739
• − Management: −$1,739
• − Depreciation: −$5,236
• Taxable income: $1,013
• Est. tax owed @ 24.0%: −$243
• After-tax cash flow: $3,675/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Lafayette School Corporation
• NCES district ID: 1805400
• Math proficiency: 29% ▼ -9.00%
• Reading proficiency: 34% ▼ -7.00%
• Median HH income: $39,817
• Composite: 26.46/100
• National rank: #7217
• State rank: #235 of 301 in IN

Livability — Lafayette

• Score: 74/100
• State rank: #68
• US rank: #4374

Category grades

Amenities D+ Commute F Cost of living A+ Crime F Employment D+ Housing A+ Health & safety A+ User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Lafayette, IN
• County: Tippecanoe County · 181,820 people
• City population: 106,622
• Metro: Lafayette-West Lafayette, IN
• Population (ZIP): 42,219
• Household income: $65,861
• Rent vs Own: 38.6% rent · 61.4% own
• Severe rent burden: 1475.0

Population outlook (Tippecanoe County) Hauer SSP2

• Today (2025): 215,327 people
• By 2030: 232,284 · +7.9%
• By 2040: 266,517 · +23.8%
• By 2050: 302,826 · +40.6%
• By 2075: 394,445 · +83.2%
• By 2100: 463,500 · +115.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (74%)
• Race & ethnicity: White 74% Hispanic / Latino 12% Two or more races 8% Black 7% Asian 4%
• Hispanic origin (detail): Mexican 10%
• Common ancestry: Romanian 3% Italian 2% Slovak 2%
• Foreign-born: 10% · Canada, China, Vietnam
• Languages at home: 91% English-only · Spanish 6% Other Asian/Pacific 1% Vietnamese 1%

Political lean MEDSL · Tippecanoe

• 2024 margin: Toss-up / Even · D 49.0% · R 49.1% · Other 1.9%
• 2008→2024 swing: -11.8pp toward R · 2008: 11.6pp · 2024: -0.1pp
• All cycles: 2024: R+0.1 2020: D+0.6 2016: R+5.7 2012: R+3.6 2008: D+11.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -113.05%
• Current HPI: 227.1583
• Rent YoY: ▲ 5.12%
• Metro: Lafayette-West Lafayette, IN
• State GDP YoY: ▲ 2.90%
• F500 in state: 18

Industry mix (Fortune 500 HQ in IN)

Industry	F500 HQs	Revenue
▸Industrial Machinery	2	$37B
▸Healthcare	1	$177B
▸Pharmaceuticals	1	$45B
▸Metals / Steel	1	$18B
▸Agriculture	1	$17B
▸Packaging	1	$12B

Price history

+66.7% since first listed

2 events — show timeline

• 2026-06-02 Price Changed $180,000 NIRA MLS as Distributed by MLS Grid
• 2026-06-01 Listed $108,000 NIRA MLS as Distributed by MLS Grid

Property tax history

+12.0%/yr

Latest (2024): $1,025 · +15.9% YoY. Source: county tax records.