1208 Lafayette St · Valparaiso, IN 46383

$169,900

2 bd · 1.5 ba · 759 sqft · SingleFamily public records · 5 Days on market

Built 1947 8,375 sqft lot $224/sqft · 21% below area Est $215k · 21% under

---

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).

• ARV discount +15.0/15.0
• Cash flow +13.7/30.0
• Schools +5.2/10.0
• DSCR +4.2/10.0
• Livability +4.1/5.0
• Rent growth +3.4/5.0
• 1% rule +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Charming brick ranch with great potential! This 2-bedroom, 1-bath home with a full unfinished basement sits on a corner lot and offers off-street parking. While the home does need some updates and repairs, it's a fantastic opportunity for investors, flippers, or buyers looking to build equity and make it their own. The durable brick exterior adds timeless curb appeal. With a little vision and work, this property could truly shine! Short distance to downtown Valpo! Seller's agent is related to seller.

Key facts

• Off-street parking
• Corner lot
• 8,375 sq ft lot

Tags

• FULL UNFINISHED BASEMENT
• CORNER LOT
• OFF-STREET PARKING
• DURABLE BRICK EXTERIOR

Property features AI

Finance

• Other: Property listed in fixer condition

Exterior

• Parking: Off-street parking on gravel
• Utilities: Public water; Public sewer
• Home design: One-story brick home; Built in 1947
• Construction: Brick construction; Shingle roof; Has basement
• Exterior features: Porch; Neighborhood view; Shed(s)

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: Primary bedroom; Second bedroom
• Flooring: Hardwood; Other
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas heating; Central air conditioning; Ceiling fan(s)
• Interior features: Ceiling fans
• Laundry & utility: Washer; Dryer; Basement with storage space and sump pump

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $170k.

Deal economics

• At list price, monthly cash flow is $13 ($161/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $128k (24.5% below list).
• Recommended offer: $128k (24.5% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 2.8% in Valparaiso — 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 82/100 on livability (#12 in IN, #1,149 nationally) — a professional / high-income tenant draw. Strengths: schools A+, crime A+, cost of living A+; Watch: amenities D-, commute F.
• Valparaiso Community Schools (suburban): math 56% / reading 64% proficiency, ranked #18 of 301 in IN (top 6%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: Rents rising (+3.5%/yr); 257 active listings in the ZIP; 31 comparable units currently listed for rent nearby; rentals at typical pace (median 15d on market — plan ~3-4 weeks tenant-placement turnaround); solid renter incomes; 542 units permitted in Porter County in 2024 (0 in 5+ unit buildings).

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.
• Porter County population projected at +6% by 2050 — modest demand growth; plan on rents tracking national, not racing it.

Negotiation context

• Only 5 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 28y ago; this cycle's ask has dropped $10k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1947 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $128,276 (24.5% below list)

Questions for the listing agent

1. Built in 1947 — 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 A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. 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.
5. 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.
6. 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: 0.76% ✗
• Cap rate: 6.39%
• Cash-on-cash: 0.34%
• DSCR: 1.02
• GRM: 11.0

CMA / ARV

• ARV (median comp): $215,365
• List price: $169,900
• Delta: -21.11%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1208 Lafayette St	0.00mi	2/1.0	759 (0%)	0mo	$157,000	$207	98
301 Mckinley St	0.25mi	3/1.0 (+1)	768 (+1%)	2mo	$180,000	$234	78
701 Lafayette St	0.42mi	2/1.0	750 (-1%)	18mo	$165,000	$220	61
607 Madison St	0.53mi	2/1.0	864 (+14%)	3mo	$215,000	$249	48
204 Fair St	0.21mi	3/1.0 (+1)	672 (-12%)	22mo	$238,000	$354	46
608 Oak St	0.73mi	2/1.0	665 (-12%)	11mo	$190,000	$286	34

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 · 3.52% rent growth · sell at horizon

5-year hold

• IRR: -15.3%
• Equity multiple: 0.45×
• Total profit: $-26,090
• Equity at exit: $25,333

10-year hold

• IRR: -6.2%
• Equity multiple: 0.60×
• Total profit: $-19,177
• Equity at exit: $14,690

Cash invested: $47,572 (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 46383

• Rents YoY: 3.5%
• Active inventory: 257
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $1,283 high
• Mortgage (P&I): −$891
• Tax from tax record: −$38 /mo · $458/yr
• Insurance: −$71
• HOA: −$0
• Vacancy / Maint / Mgmt: −$269
• Net cashflow: $13

Break-even live

Break-even rent $1,266

Max offer price $169,900

Occupancy floor 94%

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: $42,475
• Closing costs: $5,097
• Reserves months: —
• Total cash needed: —

Rent comps 31 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
705 Napoleon St Valparaiso, IN	2.0	1.0	900	$1,400	$1.56	43d	1	0.40mi
101 E Chicago St Valparaiso, IN	1.0	1.0	700	$1,175	$1.68	43d	1	0.71mi
103 E Chicago St Apt 7 Valparaiso, IN	1.0	1.0	700	$1,175	$1.68	18d	1	0.72mi
1005 McCord Rd Valparaiso, IN	2.0	1.0	770	$1,464	$1.90	1d	2	0.72mi
1101 Evans Ave Valparaiso, IN	1.0	1.0	700	$1,000	$1.43	43d	1	0.74mi
1103 Evans Ave Valparaiso, IN	2.0	1.0	750	$1,350	$1.80	15d	1	0.75mi
1103 Evans Ave Unit 4C Valparaiso, IN	2.0	1.0	750	$1,350	$1.80	17d	1	0.75mi
1103 Evans Ave Valparaiso, IN	2.0	1.0	750	$1,250	$1.67	43d	1	0.75mi
1103 Evans Ave Unit 3C Valparaiso, IN	2.0	1.0	850	$1,250	$1.47	12d	1	0.75mi
1103 Evans Ave Unit 6B Valparaiso, IN	2.0	1.0	750	$1,300	$1.73	12d	1	0.75mi
1105 Evans Ave Unit 1C Valparaiso, IN	1.0	1.0	700	$1,000	$1.43	12d	1	0.79mi
453 Golfview Blvd Valparaiso, IN	1.0–2.0	1.0–2.0	805	$1,698	$2.11	1d	15	0.82mi
217 E Lincolnway Valparaiso, IN	1.0	1.0	530	$1,411	$2.66	12d	1	0.85mi
217 E Lincolnway Valparaiso, IN	1.0	1.0	530	$1,411	$2.66	24d	1	0.85mi
52 College Ave Unit 1-4 Valparaiso, IN	1.0	1.0	650	$900	$1.38	12d	1	0.95mi
52 College Ave Valparaiso, IN	1.0	1.0	650	$995	$1.53	24d	1	0.96mi
54 College Ave Unit 3-2 Valparaiso, IN	1.0	1.0	650	$995	$1.53	24d	1	0.96mi
207 Monroe St Unit B Valparaiso, IN	1.0	1.0	800	$975	$1.22	24d	1	0.99mi
405 Monroe St Valparaiso, IN	1.0	1.0	600	$900	$1.50	1d	1	1.01mi
1302 Eisenhower Ave Valparaiso, IN	2.0–3.0	2.0	1134	$1,697	$1.50	1d	5	1.08mi
603 Union St Unit 3 Valparaiso, IN	1.0	1.0	750	$1,125	$1.50	43d	1	1.20mi
927 Hampton Ct Valparaiso, IN	2.0	2.0	1100	$1,240	$1.13	43d	1	1.21mi
926 Hampton Ct Valparaiso, IN	2.0	1.0	900	$1,180	$1.31	43d	1	1.25mi
1710 Vale Park Rd Valparaiso, IN	2.0–3.0	1.0–1.5	1054	$1,345	$1.28	1d	2	1.29mi
1807 Beech St Valparaiso, IN	2.0	1.0	900	$1,225	$1.36	1d	1	1.29mi
1401 Laporte Ave Valparaiso, IN	2.0	2.0	907	$1,699	$1.87	18d	1	1.30mi
1401 Laporte Ave Valparaiso, IN	2.0	2.0	907	$1,699	$1.87	24d	1	1.30mi
1615 Firestone Ln Valparaiso, IN	1.0	1.0	850	$1,200	$1.41	3d	1	1.33mi
1901 Wood St Valparaiso, IN	1.0	1.0	885	$1,100	$1.24	1d	1	1.37mi
18 South St Valparaiso, IN	2.0	1.0	960	$1,375	$1.43	1d	1	1.37mi
451 Brookshire Dr Valparaiso, IN	2.0	1.0	960	$1,200	$1.25	1d	1	1.47mi

Listing history 4 events

1. 2026-05-09
   status Pending 505-char remark
2. 2026-05-06
   price $169,900 505-char remark
3. 2026-05-04
   listed $179,900 Active 505-char remark
4. 1998-01-07
   listed $72,900

ⓘ 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: $458 · $38/mo
• Projected year-2 tax: $951 · $79/mo
• Expected delta: +$493/yr (+$41/mo · 107.5%)

ⓘ 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 2/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°F today · 16 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: $15,393
• − Mortgage interest: −$9,517
• − Property taxes: −$458
• − Insurance: −$850
• − Repairs & maintenance: −$1,231
• − Management: −$1,231
• − Depreciation: −$4,943
• Taxable loss: −$2,837
• Est. tax savings @ 24.0%: +$681
• After-tax cash flow: $842/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: Valparaiso Community Schools
• NCES district ID: 1811970
• Math proficiency: 56% ▼ -9.00%
• Reading proficiency: 64% ▼ -6.00%
• Median HH income: $56,736
• Composite: 51.69/100
• National rank: #1691
• State rank: #18 of 301 in IN

Livability — Valparaiso

• Score: 82/100
• State rank: #12
• US rank: #1149

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Valparaiso, IN
• County: Porter County · 151,647 people
• City population: 83,039
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• Population (ZIP): 42,183
• Household income: $76,224
• Rent vs Own: 34.3% rent · 65.7% own
• Severe rent burden: 1478.0

Population outlook (Porter County) Hauer SSP2

• Today (2025): 177,804 people
• By 2030: 181,552 · +2.1%
• By 2040: 185,830 · +4.5%
• By 2050: 187,498 · +5.5%
• By 2075: 189,585 · +6.6%
• By 2100: 183,722 · +3.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (84%)
• Race & ethnicity: White 84% Hispanic / Latino 9% Two or more races 6% Black 2% Asian 1%
• Hispanic origin (detail): Mexican 6%
• Common ancestry: Romanian 9% Lithuanian 3% Slovak 3%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Spanish 3%

Political lean MEDSL · Porter

• 2024 margin: R (+10.5) · D 43.8% · R 54.3% · Other 1.8%
• 2008→2024 swing: -17.7pp toward R · 2008: 7.2pp · 2024: -10.5pp
• All cycles: 2024: R+10.5 2020: R+6.1 2016: R+6.8 2012: D+3.8 2008: D+7.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -151.84%
• Current HPI: 197.9925
• Rent YoY: ▲ 3.52%
• Metro: Chicago-Naperville-Elgin, IL-IN-WI
• 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

+115.4% since first listed

5 events — show timeline

• 2026-06-15 Sold (MLS) $157,000 NIRA MLS as Distributed by MLS Grid
• 2026-05-09 Pending — NIRA MLS as Distributed by MLS Grid
• 2026-05-06 Price Changed $169,900 NIRA MLS as Distributed by MLS Grid
• 2026-05-04 Listed $179,900 NIRA MLS as Distributed by MLS Grid
• 1998-01-07 Listed $72,900 NIRA MLS as Distributed by MLS Grid

Property tax history

-0.7%/yr

Latest (2024): $458 · +2.0% YoY. Source: county tax records.