1446 Oak Ct · Lafayette, IN 47905

$75,000

3 bd · 1.0 ba · 992 sqft · SingleFamily public records

Built 1950 4,320 sqft lot

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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

Opportunity knocks with this affordable fixer-upper, perfect for a first-time homebuyer or savvy investor looking to build equity. This smaller home offers a functional layout with solid bones and plenty of potential to update and customize to your liking. With a little vision and TLC, this property could be transformed into a charming primary residence or a strong rental addition to your portfolio.

Key facts

• 4,320 sq ft lot
• Built 1950

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $438 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $75k).
• Cap rate 13.3% 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; 24 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 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 $519 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 5.1% rent growth), your $21k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,000

Questions for the listing agent

1. Built in 1950 — 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: 1.71% ✓
• Cap rate: 13.30%
• Cash-on-cash: 25.03%
• DSCR: 2.11
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $196,416
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2060 Crestview Ct	0.29mi	3/1.0	1,056 (+6%)	7mo	$209,000	$198	70
819 S 19th St	0.64mi	3/1.0	988 (-0%)	1mo	$110,000	$111	68
1017 Winthrop Ave	0.46mi	3/1.0	1,058 (+7%)	2mo	$200,000	$189	65
1005 Sarasota Dr	0.54mi	3/1.0	960 (-3%)	6mo	$180,000	$188	64
1212 Logan Ave	0.22mi	2/1.5 (-1)	864 (-13%)	0mo	$210,000	$243	61
1035 Davis Dr	0.65mi	3/1.5	960 (-3%)	2mo	$205,000	$214	61
826 S 18th St	0.59mi	3/1.0	1,064 (+7%)	0mo	$150,000	$141	60
2516 Oxford St	0.60mi	3/1.0	1,061 (+7%)	6mo	$145,000	$137	55
2501 Crestview Ct	0.58mi	3/1.0	912 (-8%)	6mo	$199,999	$219	54
2508 Oxford St	0.58mi	4/2.0 (+1)	1,024 (+3%)	6mo	$190,000	$186	53
2508 Edgelea Dr	0.59mi	3/1.0	864 (-13%)	0mo	$206,000	$238	51
1309 S 23rd St	0.62mi	3/1.0	850 (-14%)	6mo	$170,000	$200	42

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: 21.1%
• Equity multiple: 1.89×
• Total profit: $18,600
• Equity at exit: $11,183

10-year hold

• IRR: 30.7%
• Equity multiple: 4.06×
• Total profit: $64,345
• Equity at exit: $6,485

Cash invested: $21,000 (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: 4.9×

Monthly cashflow live

• Estimated rent: $1,286 high
• Mortgage (P&I): −$393
• Tax from tax record: −$153 /mo · $1,837/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$270
• Net cashflow: $438

Break-even live

Break-even rent $731

Max offer price $75,000

Occupancy floor 61%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Rent comps 24 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2433 Oxford St Lafayette, IN	2.0	1.0	672	$1,025	$1.53	43d	1	0.50mi
2411 S 18th St Unit 2415 Lafayette, IN	3.0	1.0	1000	$1,160	$1.16	13d	1	0.54mi
2107 Central St Lafayette, IN	2.0	1.0	816	$1,179	$1.44	43d	1	0.62mi
2450 S Earl Ave Lafayette, IN	1.0–2.0	1.0	755	$1,214	$1.61	13d	3	0.67mi
612 S 10th St Unit 612 Lafayette, IN	2.0	1.0	1028	$1,035	$1.01	13d	1	0.77mi
2760 Medford St Lafayette, IN	3.0	1.0	938	$1,400	$1.49	13d	1	0.79mi
901 S 4th St Lafayette, IN	1.0–2.0	1.0	739	$1,033	$1.40	13d	3	0.80mi
409 S 15th St Lafayette, IN	2.0	2.0	864	$1,200	$1.39	43d	1	0.91mi
1033 Holloway St Lafayette, IN	2.0	1.0	780	$1,150	$1.47	13d	1	0.96mi
1102 Holloway St Apt 2 Lafayette, IN	2.0	1.0	747	$995	$1.33	43d	1	0.99mi
549 S 3rd St Lafayette, IN	2.0	1.0	1000	$1,100	$1.10	43d	1	1.03mi
1739 Main St Unit 7 Lafayette, IN	3.0	1.0	750	$1,300	$1.73	13d	1	1.08mi
1739 Main St Unit 5 Lafayette, IN	3.0	1.0	850	$1,200	$1.41	43d	1	1.08mi
205 S 6th St Lafayette, IN	2.0	1.0	1123	$1,200	$1.07	21d	1	1.17mi
216 S 5th St Apt 2 Lafayette, IN	2.0	1.0	550	$829	$1.51	13d	1	1.19mi
2026 Scott St Lafayette, IN	2.0	2.0	1025	$1,450	$1.41	43d	1	1.23mi
1422 Main St Unit 05 Lafayette, IN	2.0	1.0	780	$875	$1.12	21d	1	1.29mi
475 South St Lafayette, IN	1.0–2.0	1.0–2.0	870	$2,100	$2.41	13d	12	1.31mi
6 S 4th St Lafayette, IN	1.0–3.0	1.0–3.0	1102	$1,649	$1.50	13d	1	1.35mi
335 S 31st St Lafayette, IN	2.0	1.0	840	$1,250	$1.49	13d	1	1.38mi
3200 Quarry Dr Lafayette, IN	1.0–2.0	1.0	742	$1,305	$1.76	13d	4	1.39mi
3224 S 9th St Lafayette, IN	1.0–3.0	1.0–2.0	825	$1,520	$1.84	13d	18	1.39mi
117 N 5th St Lafayette, IN	2.0	1.0–1.5	1123	$1,632	$1.45	21d	4	1.41mi
721 North St Apt 2 Lafayette, IN	2.0	1.0	1036	$900	$0.87	43d	1	1.48mi

Tax reassessment forecast IN · Partial reset (capped growth)

• Current annual tax: $1,837 · $153/mo
• Projected year-2 tax: $1,837 · $153/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: $15,428
• − Mortgage interest: −$4,201
• − Property taxes: −$1,837
• − Insurance: −$375
• − Repairs & maintenance: −$1,234
• − Management: −$1,234
• − Depreciation: −$2,182
• Taxable income: $4,364
• Est. tax owed @ 24.0%: −$1,047
• After-tax cash flow: $4,209/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

Property tax history

+3.0%/yr

Latest (2024): $1,837 · +4.7% YoY. Source: county tax records.