1511 Kossuth St · Lafayette, IN 47905

$189,000

4 bd · 1.0 ba · 2,068 sqft · SingleFamily public records · 37 Days on market

Built 1890 6,534 sqft lot $91/sqft · 25% below area Est $252k · 25% 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 +16.5/30.0
• ARV discount +15.0/15.0
• DSCR +5.1/10.0
• 1% rule +4.8/10.0
• 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

This four bedroom 2 bath home was recently renovated. Spacious living area, large closets unique wrap around staircase and W/ D hookups on main floor as well as in basement are just a few highlights in this home. Conveniently located close to major roads such as SR26, US52/US251 and I65 make travel a breeze! Located close to downtown as well as Tippecanoe mall area also which has many restaurants and shops in which to frequent.

Key facts

• Tippecanoe mall area
• W d hookups
• Recently renovated

Tags

• RECENTLY RENOVATED
• WRAP AROUND STAIRCASE
• W D HOOKUPS
• CLOSE TO MAJOR ROADS
• CLOSE TO DOWNTOWN
• TIPPECANOE MALL AREA

Property features AI

Exterior

• Parking: Off-street parking
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Cable connected
• Home design: Single-family residence; Site-built home; One-story
• Construction: Aluminum siding; Asphalt shingle roof; Partial basement
• Exterior features: Deck; Covered porch

Interior

• Kitchen: Disposal; Dishwasher; Refrigerator; Electric oven; Electric range
• Bedrooms: Total rooms: 6
• Flooring: Carpet; Laminate
• Bathrooms: 2 full bathrooms; 1 bathroom on the main level
• Heating & cooling: Natural gas heating with forced air; Central air conditioning; Ceiling fans
• Interior features: Walk-in closets; Entrance foyer; Ceiling fans; Eat-in kitchen; Laminate countertops
• Laundry & utility: Washer hookup; Electric dryer hookup; Laundry on main level; Electric water heater

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $189k.

Deal economics

• At list price, monthly cash flow is $112 ($1k/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 $185k (2.1% below list).
• Recommended offer: $183k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.0% 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: amenities D+, employment D+, crime F.
• 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.
• Zoned schools: Oakland Elementary School (math 52% / reading 47%, grade D, #279 of 994 statewide, top 30%, 223 students, 73% FRL); Jefferson High School (math 23% / reading 55%, grade F, #235 of 369 statewide, top 65%, 2,118 students, 69% FRL).
• Zoned-school proficiency averages 44% at this address vs 32% district-wide (+13 pts) — the actual schools serving this property are materially stronger than the Lafayette School Corporation average implies; a family-tenant draw the district grade alone would hide.
• Market conditions: Rents rising fast (+5.1%/yr); 219 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals leasing fast (median 14d on market — plan ~1-2 weeks tenant-placement turnaround); 1,341 units permitted in Tippecanoe County in 2024 (869 in 5+ unit buildings).
• This rent runs 34% 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 $6k 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 37 days — a 3% lower offer ($183k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 2y ago; this cycle's ask has dropped $20k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $135k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $183,330 (3.0% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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.
7. 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.
8. 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: 0.98% ✗
• Cap rate: 7.00%
• Cash-on-cash: 2.53%
• DSCR: 1.11
• GRM: 8.5

CMA / ARV

• ARV (median comp): $251,749
• List price: $189,000
• Delta: -24.93%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1111 S 14th St	0.31mi	3/2.0 (-1)	2,132 (+3%)	4mo	$275,000	$129	68
1209 King St	0.41mi	4/1.5	1,904 (-8%)	2mo	$200,000	$105	64
1400 Adams St	0.14mi	4/3.0	2,348 (+14%)	1mo	$376,000	$160	62
1501 El Prado Ave	0.51mi	3/2.0 (-1)	2,104 (+2%)	4mo	$250,000	$119	61
814 Highland Ave	0.46mi	4/2.5	2,176 (+5%)	4mo	$520,000	$239	61
1406 S 18th St	0.46mi	4/2.5	2,224 (+8%)	1mo	$299,000	$134	59
506 Romig St	0.69mi	3/1.0 (-1)	2,144 (+4%)	0mo	$30,000	$14	56
1310 Sinton Ave	0.40mi	3/2.0 (-1)	1,892 (-8%)	5mo	$224,000	$118	54
621 S 26th St	0.67mi	3/2.0 (-1)	1,972 (-5%)	0mo	$218,000	$111	52
1429 Stanforth Ave	0.48mi	3/2.5 (-1)	1,883 (-9%)	3mo	$295,000	$157	50
1207 Digby Dr	0.40mi	3/1.5 (-1)	1,803 (-13%)	5mo	$238,000	$132	49
1314 Oak Ave	0.62mi	4/2.5	2,297 (+11%)	2mo	$345,000	$150	45

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: -9.8%
• Equity multiple: 0.63×
• Total profit: $-19,424
• Equity at exit: $28,181

10-year hold

• IRR: 2.3%
• Equity multiple: 1.18×
• Total profit: $9,738
• Equity at exit: $16,341

Cash invested: $52,920 (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: 8.5×

Monthly cashflow live

• Estimated rent: $1,849 high
• Mortgage (P&I): −$991
• Tax from tax record: −$279 /mo · $3,353/yr
• Insurance: −$79
• HOA: −$0
• Vacancy / Maint / Mgmt: −$388
• Net cashflow: $112

Break-even live

Break-even rent $1,708

Max offer price $189,000

Occupancy floor 89%

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: $47,250
• Closing costs: $5,670
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
224 S 14th St Lafayette, IN	4.0	2.0	1900	$1,810	$0.95	13d	1	0.34mi
1213 S 19th St Lafayette, IN	3.0	2.0	1484	$1,900	$1.28	13d	1	0.44mi
327 N 23rd St Lafayette, IN	4.0	2.5	2002	$1,995	$1.00	13d	1	0.82mi
6 S 4th St Lafayette, IN	1.0–3.0	1.0–3.0	1102	$1,649	$1.50	13d	1	0.86mi
1038 Heath St Unit 1038 1/2 Lafayette, IN	4.0	2.0	1650	$1,850	$1.12	21d	1	1.34mi

Listing history 22 events

1. 2026-06-13
   statusdays on market $189,000 Pending 37 DOM
2. 2026-06-10
   days on market $189,000 Active 35 DOM
3. 2026-06-09
   days on market $189,000 Active 34 DOM
4. 2026-06-08
   days on market $189,000 Active 33 DOM
5. 2026-06-07
   days on market $189,000 Active 32 DOM
6. 2026-06-02
   days on market $189,000 Active 27 DOM
7. 2026-06-01
   days on market $189,000 Active 26 DOM
8. 2026-05-31
   days on market $189,000 Active 25 DOM
9. 2026-05-30
   days on market $189,000 Active 24 DOM
10. 2026-05-07
    status Pending 432-char remark
11. 2026-05-01
    price $199,000 432-char remark
12. 2026-04-24
    listed $209,000 Active 432-char remark
13. 2025-10-27
    listed $189,900 Active
14. 2025-06-02
    price $205,000
15. 2025-05-26
    price $229,000
16. 2025-05-16
    price $239,000
17. 2025-05-09
    price $249,000
18. 2025-05-08
    listed $269,000 Active
19. 2025-02-21
    soldstatus $135,000 Closed
20. 2025-02-10
    status Pending
21. 2025-01-11
    listed $160,000 Active
22. 2024-07-26
    listed $169,900 Active

ⓘ 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: $3,353 · $279/mo
• Projected year-2 tax: $3,353 · $279/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $22,193
• − Mortgage interest: −$10,587
• − Property taxes: −$3,353
• − Insurance: −$945
• − Repairs & maintenance: −$1,775
• − Management: −$1,775
• − Depreciation: −$5,498
• Taxable loss: −$1,740
• Est. tax savings @ 24.0%: +$418
• After-tax cash flow: $1,759/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

+11.2% since first listed

16 events — show timeline

• 2026-06-12 Pending — IRMLS
• 2026-05-28 Price Changed $189,000 IRMLS
• 2026-05-19 Relisted — IRMLS
• 2026-05-07 Pending — IRMLS
• 2026-05-01 Price Changed $199,000 IRMLS
• 2026-04-24 Listed $209,000 IRMLS
• 2025-10-27 Listed $189,900 IRMLS
• 2025-06-02 Price Changed $205,000 IRMLS
• 2025-05-26 Price Changed $229,000 IRMLS
• 2025-05-16 Price Changed $239,000 IRMLS
• 2025-05-09 Price Changed $249,000 IRMLS
• 2025-05-08 Listed $269,000 IRMLS
• 2025-02-21 Sold (MLS) $135,000 IRMLS
• 2025-02-10 Pending — IRMLS
• 2025-01-11 Listed $160,000 IRMLS
• 2024-07-26 Listed $169,900 IRMLS

Property tax history

+4.4%/yr

Latest (2024): $3,353 · +0.5% YoY. Source: county tax records.