809 Greenwich Rd · Lafayette, IN 47905

$165,000

3 bd · 1.0 ba · 1,368 sqft · SingleFamily public records · 4 Days on market

Built 1954 9,148 sqft lot $121/sqft · 10% below area Est $184k · 10% 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 +18.2/30.0
• ARV discount +12.2/15.0
• DSCR +5.7/10.0
• 1% rule +3.9/10.0
• 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 MLS

This home is sold as-is. With a large family room it has plenty of space to gather. A large fenced back yard. It has potential to be a beautiful place.

Key facts

• Recent water heater
• Screened in porch
• Total bath remodel

Tags

• FRESH EXTERIOR PAINT
• NEW ROOF
• RECENT WATER HEATER
• TOTAL BATH REMODEL
• LARGE FENCED BACK LAWN
• SCREENED IN PORCH

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Parking: Off-street parking with aggregate surface
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Cable available and connected
• Home design: Single-family residence, site-built; One story
• Construction: Aluminum siding; Wood siding; Asphalt shingle roof; Built as a site-built home
• Exterior features: Screened porch; Porch; Wood fencing; Level, landscaped lot

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Gas oven and gas range
• Bedrooms: Total rooms: 7
• Flooring: Laminate flooring; Vinyl flooring
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Central air; Ceiling fans; Natural gas forced-air heating
• Interior features: Ceiling fans; Laminate countertops; One fireplace (no special features listed)
• Laundry & utility: Washer and dryer included; Electric dryer hookup on the main level; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $148 ($2k/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 $146k (11.3% below list).
• Recommended offer: $146k (11.3% below list) — sets the bar for 1% rule.
• Cap rate 7.4% 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: Glen Acres Elementary School (math 42% / reading 37%, grade F, #500 of 994 statewide, top 53%, 542 students, 72% 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 (+5.1%/yr); 219 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 50% 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).

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.

Negotiation context

• Only 4 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 6y 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 $70k; list at $165k implies a 136% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $146,373 (11.3% below list)

Questions for the listing agent

1. Built in 1954 — 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: 0.89% ✗
• Cap rate: 7.37%
• Cash-on-cash: 3.85%
• DSCR: 1.17
• GRM: 9.4

CMA / ARV

• ARV (median comp): $184,074
• List price: $165,000
• Delta: -10.36%
• 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
3768 Kimberly Dr	0.52mi	3/1.0	1,398 (+2%)	6mo	$235,000	$168	68
2928 Beverly Ln	0.62mi	3/1.0	1,352 (-1%)	2mo	$210,000	$155	67
1008 Hedgewood Dr	0.59mi	3/1.5	1,380 (+1%)	3mo	$187,500	$136	67
915 Greenwich Rd	0.17mi	3/1.0	1,184 (-14%)	12mo	$111,000	$94	60
1122 Hedgewood Dr	0.66mi	3/1.0	1,425 (+4%)	5mo	$200,000	$140	58
40 Sierra Ct	0.61mi	4/1.5 (+1)	1,312 (-4%)	12mo	$220,000	$168	48
3309 Beech Dr	0.75mi	3/2.0	1,484 (+8%)	3mo	$292,000	$197	45
3847 Lodi Ln	0.67mi	3/2.0	1,280 (-6%)	11mo	$302,000	$236	45
3204 Longlois St	0.74mi	4/2.0 (+1)	1,402 (+2%)	11mo	$220,000	$157	43
3848 Lodi Ln	0.67mi	3/2.0	1,536 (+12%)	2mo	$277,000	$180	43
120 Collins Dr	0.64mi	3/2.0	1,512 (+10%)	9mo	$205,000	$136	41
1808 Arcadia Dr	0.70mi	3/1.5	1,190 (-13%)	6mo	$229,000	$192	38

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: -8.2%
• Equity multiple: 0.69×
• Total profit: $-14,161
• Equity at exit: $24,602

10-year hold

• IRR: 3.6%
• Equity multiple: 1.29×
• Total profit: $13,256
• Equity at exit: $14,266

Cash invested: $46,200 (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: 9.4×

Monthly cashflow live

• Estimated rent: $1,464 high
• Mortgage (P&I): −$865
• Tax from tax record: −$74 /mo · $888/yr
• Insurance: −$69
• HOA: −$0
• Vacancy / Maint / Mgmt: −$307
• Net cashflow: $148

Break-even live

Break-even rent $1,276

Max offer price $165,000

Occupancy floor 85%

Sensitivity live

Price	-10% $242	-5% $195	+0% $148	+5% $102	+10% $55
Rent	-10% $33	-5% $91	+0% $148	+5% $206	+10% $264
Rate	-1.0pp $231	-0.5pp $190	base $148	+0.5pp $106	+1.0pp $62

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: $41,250
• Closing costs: $4,950
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3605 Wausau Ct Lafayette, IN	3.0	1.0	1073	$1,500	$1.40	44d	1	0.19mi
512 Portledge Commons Dr Lafayette, IN	1.0–2.0	1.0–2.0	978	$1,325	$1.35	44d	1	0.74mi
407 N 24th St Lafayette, IN	3.0	2.0	1388	$2,200	$1.59	44d	1	1.16mi
1609 Arlington Rd Lafayette, IN	3.0	1.0	1268	$1,300	$1.03	22d	1	1.18mi
100 Tonto Trl Unit 4 Lafayette, IN	2.0	1.5	1197	$1,154	$0.96	14d	1	1.34mi
100 Tonto Trl Unit 10 1018 Lafayette, IN	2.0	2.0	990	$1,205	$1.22	22d	1	1.34mi
100 Tonto Trl Unit 04 401 Lafayette, IN	2.0	1.5	1197	$1,275	$1.07	44d	1	1.34mi
100 Tonto Trl Unit 09 907 Lafayette, IN	2.0	1.5	1200	$1,275	$1.06	14d	1	1.34mi
100 Tonto Trl Unit 1 Lafayette, IN	2.0	1.0	988	$1,209	$1.22	14d	1	1.34mi
2026 Scott St Lafayette, IN	2.0	2.0	1025	$1,450	$1.41	44d	1	1.36mi

Listing history 3 events

1. 2026-05-14
   listed $165,000 Active 457-char remark
2. 2020-06-01
   soldstatus $70,000 151-char remark

   Show marketing remark (151 chars)

   This home is sold as-is. With a large family room it has plenty of space to gather. A large fenced back yard. It has potential to be a beautiful place.

3. 2020-03-13
   listed $79,900 151-char remark

   Show marketing remark (151 chars)

   This home is sold as-is. With a large family room it has plenty of space to gather. A large fenced back yard. It has potential to be a beautiful place.

ⓘ 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: $888 · $74/mo
• Projected year-2 tax: $1,145 · $95/mo
• Expected delta: +$257/yr (+$21/mo · 29.0%)

ⓘ 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: $17,565
• − Mortgage interest: −$9,243
• − Property taxes: −$888
• − Insurance: −$825
• − Repairs & maintenance: −$1,405
• − Management: −$1,405
• − Depreciation: −$4,800
• Taxable loss: −$1,001
• Est. tax savings @ 24.0%: +$240
• After-tax cash flow: $2,020/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

+106.5% since first listed

4 events — show timeline

• 2026-05-19 Pending — IRMLS
• 2026-05-14 Listed $165,000 IRMLS
• 2020-06-01 Sold (MLS) $70,000 IRMLS
• 2020-03-13 Listed $79,900 IRMLS

Property tax history

+8.4%/yr

Latest (2024): $888 · +16.0% YoY. Source: county tax records.