629 North St · Lafayette, IN 47901

$195,000

3 bd · 1.5 ba · 2,328 sqft · SingleFamily public records · 4 Days on market

Built 1890 4,356 sqft lot Est $233k · 16% under ↓ 13% since listing

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Why this score? — see what drove the B- 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 +21.8/30.0
• ARV discount +14.8/15.0
• DSCR +7.0/10.0
• Appreciation +6.8/10.0
• 1% rule +5.7/10.0
• Rent growth +3.7/5.0
• Livability +3.7/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0

Listing remarks

Come see how you might choose to restore this turn-of-the-century home located across the street from the former Wells Memorial Library. Built in1890 when Benjamin Harrison was President of the United States, much of its original charm remains with tall ceilings, hardwood floors, and wood staircase. Experience that era and bring you vision to discover how you might make this home your own. There is work to be done, so it will only qualify for cash or construction loan financing. Property sold as-is.

Key facts

• 4,356 sq ft lot
• Garage
• Built 1890

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence (site-built); 2-story
• Construction: Wood siding
• Exterior features: Level lot; Lot dimensions approximately 35 x 126

Interior

• Bedrooms: Total rooms: 7; Laundry located on the main level; Main-level bathroom included
• Flooring: Hardwood
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Natural gas heating; Window air conditioning unit(s)
• Interior features: Hardwood flooring; Living room fireplace (1)
• Laundry & utility: Main-level laundry

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $195k.

Deal economics

• At list price, monthly cash flow is $302 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $195k).
• Cap rate 8.2% 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: Thomas Miller Elementary School (math 27% / reading 22%, grade F, #762 of 994 statewide, top 78%, 343 students, 85% FRL); Jefferson High School (math 23% / reading 55%, grade F, #235 of 369 statewide, top 65%, 2,118 students, 69% FRL).
• Market conditions: Rents rising fast (+4.8%/yr); 16 active listings in the ZIP; 9 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 44% of comp listings sitting > 30 days — soft ceiling on asking rent; 1,341 units permitted in Tippecanoe County in 2024 (869 in 5+ unit buildings).
• At $2,096/mo this rent would consume 53% of the median local household income ($47k/yr) (locally 314% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• In year one you build about $8k of equity ($1k loan paydown + $7k appreciation (3.5% local appreciation)).
• Tippecanoe County population projected at +41% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (3.5% appreciation + 4.8% rent growth), your $55k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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.

Risks & watch-outs

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

Recommended offer $195,000

Questions for the listing agent

1. Built in 1890 — 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: 1.07% ✓
• Cap rate: 8.15%
• Cash-on-cash: 6.64%
• DSCR: 1.30
• GRM: 7.8

CMA / ARV

• ARV (on-the-fly): $232,800
• Comps found: 11

Show comp detail 11 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
506 Romig St	0.48mi	3/1.0	2,144 (-8%)	0mo	$30,000	$14	62
649 N 7th St	0.21mi	4/2.5 (+1)	2,148 (-8%)	11mo	$270,000	$126	59
110 S 14th St	0.53mi	2/1.0 (-1)	2,184 (-6%)	0mo	$142,500	$65	58
1110 N 7th St	0.50mi	4/2.0 (+1)	2,238 (-4%)	20mo	$90,000	$40	46
1603 Cason St	0.58mi	4/3.0 (+1)	2,371 (+2%)	16mo	$239,500	$101	46
1610 Columbia St	0.61mi	4/2.0 (+1)	2,164 (-7%)	12mo	$217,000	$100	43
1200 Hartford St	0.57mi	4/2.0 (+1)	2,072 (-11%)	12mo	$75,000	$36	38
615 Lingle Ave	0.71mi	3/3.5	2,498 (+7%)	11mo	$415,000	$166	38
6 N 19th St	0.74mi	2/1.0 (-1)	2,424 (+4%)	17mo	$168,000	$69	37
1009 Elliott St	0.72mi	3/2.5	2,016 (-13%)	11mo	$340,000	$169	30
7 N 18th St	0.70mi	4/2.5 (+1)	2,560 (+10%)	17mo	$270,000	$105	27

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

Projected returns pro-forma

3.53% appreciation · 4.83% rent growth · sell at horizon

5-year hold

• IRR: 16.1%
• Equity multiple: 1.96×
• Total profit: $52,230
• Equity at exit: $93,573

10-year hold

• IRR: 18.2%
• Equity multiple: 3.90×
• Total profit: $158,517
• Equity at exit: $148,967

Cash invested: $54,600 (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 47901

• Home prices YoY: 1.9%
• Rents YoY: 4.8%
• Active inventory: 16
• Price-to-rent: 7.8×

Monthly cashflow live

• Estimated rent: $2,096 high
• Mortgage (P&I): −$1,023
• Tax from tax record: −$250 /mo · $2,998/yr
• Insurance: −$81
• HOA: −$0
• Vacancy / Maint / Mgmt: −$440
• Net cashflow: $302

Break-even live

Break-even rent $1,714

Max offer price $195,000

Occupancy floor 81%

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: $48,750
• Closing costs: $5,850
• Reserves months: —
• Total cash needed: —

Rent comps 9 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
400 N 9th St Lafayette, IN	1.0–2.0	1.0–2.0	1600	$2,675	$1.67	44d	2	0.15mi
102 N 3rd St Apt 3A Lafayette, IN	2.0	2.5	1725	$1,995	$1.16	44d	1	0.30mi
12 N 3rd St Unit 203 Lafayette, IN	2.0	2.0	1900	$2,695	$1.42	44d	1	0.32mi
201 S 4th St #6 Lafayette, IN	2.0	2.5	1767	$2,250	$1.27	44d	1	0.41mi
224 S 14th St Lafayette, IN	4.0	2.0	1900	$1,810	$0.95	13d	1	0.60mi
1038 Heath St Unit 1038 1/2 Lafayette, IN	4.0	2.0	1650	$1,850	$1.12	21d	1	0.63mi
327 N 23rd St Lafayette, IN	4.0	2.5	2002	$1,995	$1.00	13d	1	1.01mi
2773 PROSPERITY WAY West Lafayette, IN	3.0	2.0	1691	$3,095	$1.83	21d	1	1.01mi
932 Robinson St West Lafayette, IN	3.0	1.5	1944	$2,800	$1.44	13d	1	1.24mi

Listing history 5 events

1. 2026-06-19
   days on market $195,000 Active 4 DOM
2. 2026-06-18
   days on market $195,000 Active 3 DOM
3. 2026-06-17
   days on market $195,000 Active 2 DOM
4. 2026-06-15
   remarks 504-char remark
5. 2026-06-15
   listed $195,000 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: $2,998 · $250/mo
• Projected year-2 tax: $2,998 · $250/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 4/10 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: $25,150
• − Mortgage interest: −$10,923
• − Property taxes: −$2,998
• − Insurance: −$975
• − Repairs & maintenance: −$2,012
• − Management: −$2,012
• − Depreciation: −$5,673
• Taxable income: $557
• Est. tax owed @ 24.0%: −$134
• After-tax cash flow: $3,490/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): 4,585
• Household income: $47,206
• Rent vs Own: 91.9% rent · 8.1% own
• Severe rent burden: 314.0

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 (73%)
• Race & ethnicity: White 73% Black 15% Asian 6% Two or more races 4% Hispanic / Latino 4%
• Common ancestry: Italian 5% Romanian 4% Slovak 3%
• Foreign-born: 15% · China, Canada, South Korea
• Languages at home: 87% English-only · Spanish 3% Other Indo-European 3% Chinese 2%

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: ▲ 3.53%
• Current HPI: 192.353
• Rent YoY: ▲ 4.83%
• 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

-13.3% since first listed

5 events — show timeline

• 2026-06-15 Listed $195,000 IRMLS
• 2025-09-15 Relisted — IRMLS
• 2025-08-07 Pending — IRMLS
• 2025-07-01 Price Changed $215,000 IRMLS
• 2025-05-23 Listed $225,000 IRMLS

Property tax history

+13.3%/yr

Latest (2024): $2,998 · +6.2% YoY. Source: county tax records.