1982 Cal Dr · West Lafayette, IN 47906

$260,000

3 bd · 2.5 ba · 1,816 sqft · SingleFamily public records · 46 Days on market

Built 2004 4,680 sqft lot $143/sqft · at area comps Est $273k · at est. $58/mo HOA · 3% of rent

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Why this score? — see what drove the D 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 +12.0/30.0
• ARV discount +9.6/15.0
• Livability +4.5/5.0
• Schools +4.0/10.0
• DSCR +3.6/10.0
• Rent growth +3.3/5.0
• 1% rule +2.7/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great location for this 3-BR, 2.5-BA westside home near campus and bus line. Main floor master bedroom and bath + 2 additional upstairs bedrooms. Move-in ready condition. HOA covers lawn, snow removal, and trash. Closing and possesion August 30 or later.

Key facts

• Primary suite
• 4,680 sq ft lot
• 2 garage spots

Tags

• PRIMARY SUITE
• TIPPECANOE SCHOOL DISTRICT

Property features AI

Finance

• HOA & community: Homeowners association with an annual fee of $700 (about $58.33/month)

Exterior

• Parking: Attached garage with garage door opener; 2 garage spaces
• Security: Smoke detectors
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); Two-story home; Subdivision: Colony Pines; PUD zoning
• Construction: Brick and vinyl siding exterior; Slab foundation; Built area above grade: 1,816
• Exterior features: Patio; Level lot

Interior

• Kitchen: Disposal; Dishwasher; Microwave; Refrigerator; Electric range and oven; Water softener (owned)
• Bedrooms: Primary bedroom located on the main level
• Bathrooms: 2 full bathrooms; 1 half bathroom; Two main-level bathrooms
• Heating & cooling: Natural gas forced-air heating; Central air conditioning; Ceiling fans
• Interior features: Cathedral ceilings; Walk-in closets; Ceiling fans; Eat-in kitchen; Primary bedroom on main level; Living room fireplace
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry on main level; Washer and dryer included

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $260k.

Deal economics

• At list price, monthly cash flow is $-60 ($-721/yr) — negative.
• To cash-flow at today's rent, offer at most $249k (4.1% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $201k (22.8% below list).
• Recommended offer: $201k (22.8% below list) — sets the bar for 1% rule.
• Cap rate 6.0% vs local median 3.0% in West 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 90/100 on livability (#1 in IN, #74 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: housing C-, employment D.
• Tippecanoe School Corporation (rural): math 44% / reading 49% proficiency, ranked #80 of 301 in IN (top 27%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: Klondike Elementary School (math 46% / reading 44%, grade D-, #374 of 994 statewide, top 38%, 981 students, 39% FRL); Klondike Middle School (math 45% / reading 57%, grade C, #40 of 330 statewide, top 12%, 465 students, 36% FRL); William Henry Harrison High School (math 53% / reading 73%, grade B-, #39 of 369 statewide, top 11%, 2,136 students, 30% FRL).
• Market conditions: Rents rising (+3.2%/yr); 342 active listings in the ZIP; 13 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).
• At $2,007/mo this rent would consume 45% of the median local household income ($53k/yr) (locally 5978% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $8k 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.

Negotiation context

• It's been on market 46 days — a 3% lower offer ($252k) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $215k; 21% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $200,654 (22.8% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. It's been on market 46 days. Have you received any prior offers? Is the seller open to a 23% concession, seller financing, or rate buy-down credit?
3. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 0.77% ✗
• Cap rate: 6.02%
• Cash-on-cash: -0.99%
• DSCR: 0.96
• GRM: 10.8

CMA / ARV

• ARV (median comp): $272,523
• List price: $260,000
• Delta: -4.60%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1940 Ellison Dr	0.06mi	3/2.5	1,822 (+0%)	2mo	$250,000	$137	95
1949 Abnaki Way	0.12mi	3/2.5	1,802 (-1%)	13mo	$298,000	$165	82
1436 Solemar Dr	0.46mi	2/2.0 (-1)	1,806 (-1%)	14mo	$359,900	$199	59
2335 Bainbridge Ct	0.57mi	4/2.0 (+1)	1,890 (+4%)	1mo	$205,000	$108	59
3864 Estella Dr	0.38mi	2/2.0 (-1)	1,684 (-7%)	12mo	$350,000	$208	53
2306 E Temple Ct	0.68mi	3/2.5	1,800 (-1%)	17mo	$320,000	$178	53
1544 Shining Armor Ln	0.68mi	3/2.5	1,751 (-4%)	12mo	$293,000	$167	53
1408 Solemar Dr	0.45mi	2/2.0 (-1)	1,652 (-9%)	5mo	$330,000	$200	52
4315 Hadley Ct	0.58mi	3/2.5	1,697 (-7%)	12mo	$334,600	$197	52
3212 Hunter Rd	0.71mi	4/2.5 (+1)	1,876 (+3%)	19mo	$295,000	$157	41
3150 Cirrus Ct	0.66mi	3/2.0	1,592 (-12%)	11mo	$283,000	$178	38
3141 Bluster Dr	0.65mi	3/2.0	1,602 (-12%)	17mo	$272,750	$170	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 · 3.2% rent growth · sell at horizon

5-year hold

• IRR: -17.8%
• Equity multiple: 0.37×
• Total profit: $-45,616
• Equity at exit: $38,767

10-year hold

• IRR: -9.6%
• Equity multiple: 0.41×
• Total profit: $-43,237
• Equity at exit: $22,480

Cash invested: $72,800 (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 47906

• Rents YoY: 3.2%
• Active inventory: 342
• Price-to-rent: 10.8×

Monthly cashflow live

• Estimated rent: $2,007 high
• Mortgage (P&I): −$1,363
• Tax from tax record: −$115 /mo · $1,385/yr
• Insurance: −$108
• HOA: −$58
• Vacancy / Maint / Mgmt: −$421
• Net cashflow: $-60

Break-even live

Break-even rent $2,083

Max offer price $249,387

Occupancy floor 98%

Sensitivity live

Price	-10% $87	-5% $14	+0% $-60	+5% $-134	+10% $-207
Rent	-10% $-219	-5% $-139	+0% $-60	+5% $19	+10% $98
Rate	-1.0pp $71	-0.5pp $6	base $-60	+0.5pp $-127	+1.0pp $-196

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: $65,000
• Closing costs: $7,800
• Reserves months: —
• Total cash needed: —

Rent comps 13 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1940 Ellison Dr West Lafayette, IN	3.0	3.0	1822	$2,100	$1.15	23d	1	0.08mi
1860 Ellison Dr West Lafayette, IN	3.0	2.5	1700	$1,800	$1.06	23d	1	0.12mi
3915 Ledyard St West Lafayette, IN	3.0	2.0	1250	$1,750	$1.40	23d	1	0.20mi
3850 Amber Ct West Lafayette, IN	2.0–3.0	1.5–2.5	1440	$1,699	$1.18	15d	1	0.58mi
1600 Lionheart Ln West Lafayette, IN	3.0	2.0	1300	$1,650	$1.27	15d	1	0.70mi
2447 Easton Ln Unit NA West Lafayette, IN	3.0	2.5	1950	$2,250	$1.15	23d	1	0.71mi
2117 Cumulus Ct West Lafayette, IN	3.0	2.0	1270	$2,200	$1.73	15d	1	0.73mi
3551 Bethel Dr Unit 3555 Townhome West Lafayette, IN	3.0	2.0	1500	$1,650	$1.10	15d	1	0.77mi
1403 Crusade Dr West Lafayette, IN	3.0	2.0	1309	$1,850	$1.41	15d	1	0.81mi
1900 Foxglove Way West Lafayette, IN	1.0–3.0	1.0–2.5	988	$2,099	$2.12	15d	58	0.82mi
2726 Wyndham Ct West Lafayette, IN	3.0	3.5	1952	$1,679	$0.86	45d	1	0.92mi
3400 Wyndham Way West Lafayette, IN	3.0	2.5	1950	$1,900	$0.97	15d	1	1.00mi
3301 Maitland Dr West Lafayette, IN	3.0	2.0	1650	$1,950	$1.18	45d	1	1.49mi

HOA detail

• Monthly dues: $58 · $696/yr
• Likely covers: trashsnow removal

Listing history 20 events

1. 2026-06-16
   status $260,000 Pending 46 DOM
2. 2026-06-15
   days on market $260,000 Active 46 DOM
3. 2026-06-14
   days on market $260,000 Active 44 DOM
4. 2026-06-13
   days on market $260,000 Active 43 DOM
5. 2026-06-10
   days on market $260,000 Active 41 DOM
6. 2026-06-09
   days on market $260,000 Active 40 DOM
7. 2026-06-08
   days on market $260,000 Active 39 DOM
8. 2026-06-07
   days on market $260,000 Active 38 DOM
9. 2026-06-05
   pricedays on market $260,000 Active 35 DOM
10. 2026-06-02
    days on market $270,000 Active 33 DOM
11. 2026-06-01
    days on market $270,000 Active 32 DOM
12. 2026-05-31
    days on market $270,000 Active 31 DOM
13. 2026-05-30
    days on marketlisting id $270,000 Active 30 DOM
14. 2026-04-30
    listed $270,000 Active 501-char remark
15. 2026-04-30
    listed $270,000 Active 495-char remark
16. 2021-08-16
    soldstatus $215,000

    Show marketing remark (254 chars)

    Great location for this 3-BR, 2.5-BA westside home near campus and bus line. Main floor master bedroom and bath + 2 additional upstairs bedrooms. Move-in ready condition. HOA covers lawn, snow removal, and trash. Closing and possesion August 30 or later.

17. 2021-07-14
    listed $210,000

    Show marketing remark (254 chars)

    Great location for this 3-BR, 2.5-BA westside home near campus and bus line. Main floor master bedroom and bath + 2 additional upstairs bedrooms. Move-in ready condition. HOA covers lawn, snow removal, and trash. Closing and possesion August 30 or later.

18. 2017-06-19
    soldstatus $29,000
19. 2017-05-31
    soldstatus $129,000
20. 2017-02-22
    listed $129,900

ⓘ 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: $1,385 · $115/mo
• Projected year-2 tax: $1,798 · $150/mo
• Expected delta: +$412/yr (+$34/mo · 29.8%)

ⓘ 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 · 19 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: $24,078
• − Mortgage interest: −$14,564
• − Property taxes: −$1,385
• − Insurance: −$1,300
• − Repairs & maintenance: −$1,926
• − Management: −$1,926
• − HOA: −$696
• − Depreciation: −$7,564
• Taxable loss: −$5,283
• Est. tax savings @ 24.0%: +$1,268
• After-tax cash flow: $547/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: Tippecanoe School Corporation
• NCES district ID: 1811340
• Math proficiency: 44% ▼ -6.00%
• Reading proficiency: 49% ▼ -5.00%
• Median HH income: $55,087
• Composite: 40.36/100
• National rank: #3741
• State rank: #80 of 301 in IN

Livability — West Lafayette

• Score: 90/100
• State rank: #1
• US rank: #74

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Tippecanoe County · 181,820 people
• City population: 75,198
• Metro: Lafayette-West Lafayette, IN
• Population (ZIP): 75,198
• Household income: $53,103
• Rent vs Own: 56.5% rent · 43.5% own
• Severe rent burden: 5978.0

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 (69%)
• Race & ethnicity: White 69% Asian 16% Hispanic / Latino 7% Two or more races 5% Black 5%
• Hispanic origin (detail): Mexican 4%
• Common ancestry: Romanian 4% Slovak 3% Italian 2%
• Foreign-born: 18% · China, Canada, South Korea
• Languages at home: 79% English-only · Chinese 5% Spanish 4% Other Indo-European 4%

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: ▼ -134.80%
• Current HPI: 210.545
• Rent YoY: ▲ 3.20%
• 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

+100.2% since first listed

10 events — show timeline

• 2026-06-16 Pending — IRMLS
• 2026-06-04 Price Changed $260,000 IRMLS
• 2026-06-04 Price Changed $260,000 MIBOR as Distributed by MLS Grid
• 2026-04-30 Listed $270,000 IRMLS
• 2026-04-30 Listed $270,000 MIBOR as Distributed by MLS Grid
• 2021-08-16 Sold (MLS) $215,000 IRMLS
• 2021-07-14 Listed $210,000 IRMLS
• 2017-06-19 Sold (Public Records) $29,000 Public Records
• 2017-05-31 Sold (MLS) $129,000 IRMLS
• 2017-02-22 Listed $129,900 IRMLS

Property tax history

-1.1%/yr

Latest (2024): $1,385 · +10.8% YoY. Source: county tax records.