4751 Pleasant Valley Dr · Montmorenci, IN 47906

$4,500,000

75 bd · 2.0 ba · 2,256 sqft · MultiFamily public records · 142 Days on market

Built 1938 16 ac 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 +29.3/30.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 1% rule +7.2/10.0
• Schools +4.0/10.0
• Rent growth +3.3/5.0
• Livability +3.1/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

Discover Pleasant Valley Estates, a rare and highly desirable 33-unit investment property ideally positioned in the thriving West Lafayette market—just a short drive from Purdue University, one of the nation’s fastest-growing academic hubs. This well-maintained portfolio features a diverse mix of duplexes and select single-family homes, offering strong rental appeal for students, university staff, and local professionals alike. The community-style layout creates a cohesive neighborhood feel while giving residents the comfort and privacy of spacious, standalone living. Pleasant Valley Estates offers investors a powerful combination of stability, flexibility, and long-term appreciation. Whether you’re expanding your portfolio or entering the West Lafayette market, this is a rare chance to own a turnkey community in one of Indiana’s most dynamic rental corridors.

Key facts

• Purdue university
• 16.31 acre lot
• 66 parking spots

Tags

• PLEASANT VALLEY ESTATES
• WEST LAFAYETTE MARKET
• PURDUE UNIVERSITY
• DIVERSE MIX OF DUPLEXES
• SELECT SINGLE-FAMILY HOMES
• COMMUNITY-STYLE LAYOUT

What this means for you Summary

Snapshot

• This is a 75-bed/2.0-bath multifamily listed at $4.50M.

Deal economics

• At list price, monthly cash flow is $16k ($190k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($55k rent vs $4.50M).
• Recommended offer: $3.96M (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 61/100 on livability (#513 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, crime A, employment A-; Watch: amenities F, commute F, health & safety F.
• 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); 333 active listings in the ZIP; 1,341 units permitted in Tippecanoe County in 2024 (869 in 5+ unit buildings).
• At $55,036/mo this rent would consume 1244% 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 $31k of loan paydown is wiped out by about $135k 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 + 3.2% rent growth), your $1.26M cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 142 days — a 12% lower offer ($3.96M) is reasonable based on typical stale-listing flexibility.
• 4 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: built in 1938 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $3,960,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 142 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1938 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.22% ✓
• Cap rate: 10.50%
• Cash-on-cash: 15.04%
• DSCR: 1.67
• GRM: 6.8

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.2% rent growth · sell at horizon

5-year hold

• IRR: 5.8%
• Equity multiple: 1.23×
• Total profit: $286,462
• Equity at exit: $670,965

10-year hold

• IRR: 15.4%
• Equity multiple: 2.26×
• Total profit: $1,585,183
• Equity at exit: $389,078

Cash invested: $1,260,000 (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 47906

• Rents YoY: 3.2%
• Active inventory: 333
• Price-to-rent: 224.9×

Monthly cashflow live

• Estimated rent: $55,036 medium
• Mortgage (P&I): −$23,598
• Tax from tax record: −$2,213 /mo · $26,551/yr
• Insurance: −$1,875
• HOA: −$0
• Vacancy / Maint / Mgmt: −$11,558
• Net cashflow: $15,792

Break-even live

Break-even rent $35,046

Max offer price $4,500,000

Occupancy floor 66%

Sensitivity live

Price	-10% $18,340	-5% $17,066	+0% $15,792	+5% $14,519	+10% $13,245
Rent	-10% $11,445	-5% $13,618	+0% $15,792	+5% $17,966	+10% $20,140
Rate	-1.0pp $18,059	-0.5pp $16,937	base $15,792	+0.5pp $14,626	+1.0pp $13,440

33-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 33× units	2	1	$55,044
Total (33 units)			$55,036

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: $1,125,000
• Closing costs: $135,000
• Reserves months: —
• Total cash needed: —

Listing history 23 events

1. 2026-06-19
   days on market $4,500,000 Active 142 DOM
2. 2026-06-18
   days on market $4,500,000 Active 141 DOM
3. 2026-06-17
   days on market $4,500,000 Active 140 DOM
4. 2026-06-16
   days on market $4,500,000 Active 139 DOM
5. 2026-06-15
   days on market $4,500,000 Active 138 DOM
6. 2026-06-14
   days on market $4,500,000 Active 136 DOM
7. 2026-06-13
   days on market $4,500,000 Active 135 DOM
8. 2026-06-10
   days on market $4,500,000 Active 133 DOM
9. 2026-06-09
   days on market $4,500,000 Active 132 DOM
10. 2026-06-08
    days on market $4,500,000 Active 131 DOM
11. 2026-06-07
    days on market $4,500,000 Active 130 DOM
12. 2026-06-05
    days on market $4,500,000 Active 127 DOM
13. 2026-06-02
    days on market $4,500,000 Active 125 DOM
14. 2026-06-01
    days on market $4,500,000 Active 124 DOM
15. 2026-05-31
    days on market $4,500,000 Active 123 DOM
16. 2026-05-30
    days on market $4,500,000 Active 122 DOM
17. 2026-01-28
    listed $4,500,000 Active 896-char remark

    Show marketing remark (896 chars)

    Discover Pleasant Valley Estates, a rare and highly desirable 33-unit investment property ideally positioned in the thriving West Lafayette market—just a short drive from Purdue University, one of the nation’s fastest-growing academic hubs. This well-maintained portfolio features a diverse mix of duplexes and select single-family homes, offering strong rental appeal for students, university staff, and local professionals alike. The community-style layout creates a cohesive neighborhood feel while giving residents the comfort and privacy of spacious, standalone living. Pleasant Valley Estates offers investors a powerful combination of stability, flexibility, and long-term appreciation. Whether you’re expanding your portfolio or entering the West Lafayette market, this is a rare chance to own a turnkey community in one of Indiana’s most dynamic rental corridors.

18. 2024-03-14
    historical $925
19. 2024-01-12
    listed $925
20. 2023-09-25
    historical $897
21. 2023-09-01
    listed $897
22. 2023-08-24
    historical $897
23. 2023-08-10
    listed $897

ⓘ 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: $26,551 · $2,213/mo
• Projected year-2 tax: $32,400 · $2,700/mo
• Expected delta: +$5,850/yr (+$487/mo · 22.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $660,432
• − Mortgage interest: −$252,070
• − Property taxes: −$26,551
• − Insurance: −$22,500
• − Repairs & maintenance: −$52,835
• − Management: −$52,835
• − Depreciation: −$130,909
• Taxable income: $122,733
• Est. tax owed @ 24.0%: −$29,456
• After-tax cash flow: $160,053/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 — Montmorenci

• Score: 61/100
• State rank: #513
• US rank: #18241

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• County: Tippecanoe County · 181,820 people
• 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

7 events — show timeline

• 2026-01-28 Listed $4,500,000 IRMLS
• 2024-03-14 Rental Removed $925 APPFOLIO
• 2024-01-12 Listed for Rent $925 APPFOLIO
• 2023-09-25 Rental Removed $897 APPFOLIO
• 2023-09-01 Listed for Rent $897 APPFOLIO
• 2023-08-24 Rental Removed $897 APPFOLIO
• 2023-08-10 Listed for Rent $897 APPFOLIO

Property tax history

+3.7%/yr

Latest (2024): $26,551 · -5.9% YoY. Source: county tax records.