827 N 13th St · Lafayette, IN 47904

$80,000

3 bd · 1.0 ba · 1,500 sqft · SingleFamily public records · 90 Days on market

Built 1920 0.58 ac lot $53/sqft · 50% below area Est $160k · 50% under ↓ 19% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Lots of square footage for the money. Full basement. Convenient location near bus route. All offers are subject to OFAC clearance. A viewing release must be signed and returned to our office before showing this property.

Key facts

• Full basement
• 0.58 acre lot
• Built 1920

Tags

• FULL BASEMENT

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $711 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $80k).
• Recommended offer: $75k (6.0% below list) — sets the bar for market timing.
• Cap rate 17.0% 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: schools D+, amenities D+, employment D+.
• 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.
• Market conditions: Rents rising (+2.8%/yr); 73 active listings in the ZIP; 30 comparable units currently listed for rent nearby; rentals at typical pace (median 22d on market — plan ~3-4 weeks tenant-placement turnaround); 1,341 units permitted in Tippecanoe County in 2024 (869 in 5+ unit buildings).
• This rent runs 38% of the median local income ($52k/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 $553 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 + 2.8% rent growth), your $22k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 90 days — a 6% lower offer ($75k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $5k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,200 (6.0% below list)

Questions for the listing agent

1. It's been on market 90 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1920 — 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. 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?
7. 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.
8. 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.
9. 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: 2.05% ✓
• Cap rate: 16.96%
• Cash-on-cash: 38.09%
• DSCR: 2.69
• GRM: 4.1

CMA / ARV

• ARV (median comp): $159,537
• List price: $80,000
• Delta: -49.85%
• 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
1123 N 9th St	0.29mi	3/1.5	1,552 (+4%)	1mo	$236,000	$152	78
926 N 19th St	0.36mi	2/1.0 (-1)	1,423 (-5%)	1mo	$230,000	$162	68
1118 Cincinnati St	0.19mi	3/2.0	1,632 (+9%)	9mo	$148,000	$91	65
1410 Morton St	0.41mi	3/1.0	1,392 (-7%)	9mo	$100,000	$72	62
1430 N 16th St	0.47mi	3/2.0	1,408 (-6%)	6mo	$152,000	$108	58
1213 Morton St	0.38mi	3/1.5	1,683 (+12%)	4mo	$220,000	$131	57
1039 Tulip Ln	0.70mi	4/1.5 (+1)	1,534 (+2%)	3mo	$228,000	$149	54
414 Cincinnati St	0.53mi	3/2.0	1,701 (+13%)	0mo	$275,000	$162	49
1940 Morton St	0.61mi	3/1.5	1,328 (-12%)	4mo	$156,000	$117	47
1811 N 15th St	0.67mi	3/2.0	1,664 (+11%)	3mo	$220,000	$132	44
1904 Greenbush St	0.60mi	4/2.0 (+1)	1,652 (+10%)	4mo	$250,000	$151	42
2217 Rainbow Dr	0.73mi	3/1.5	1,698 (+13%)	7mo	$200,000	$118	36

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 · 2.8% rent growth · sell at horizon

5-year hold

• IRR: 33.9%
• Equity multiple: 2.43×
• Total profit: $32,032
• Equity at exit: $11,928

10-year hold

• IRR: 40.7%
• Equity multiple: 4.80×
• Total profit: $85,036
• Equity at exit: $6,917

Cash invested: $22,400 (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 47904

• Rents YoY: 2.8%
• Active inventory: 73
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $1,643 high
• Mortgage (P&I): −$420
• Tax from tax record: −$134 /mo · $1,612/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$345
• Net cashflow: $711

Break-even live

Break-even rent $743

Max offer price $80,000

Occupancy floor 52%

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: $20,000
• Closing costs: $2,400
• Reserves months: —
• Total cash needed: —

Rent comps 30 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1038 Heath St Unit 1038 1/2 Lafayette, IN	4.0	2.0	1650	$1,850	$1.12	21d	1	0.23mi
802 N 9th St Lafayette, IN	2.0	1.0–2.0	902	$789	$0.87	13d	1	0.24mi
400 N 9th St Lafayette, IN	1.0–2.0	1.0–2.0	1600	$2,675	$1.67	44d	2	0.40mi
1024 Main St Unit 10245 Lafayette, IN	2.0	1.0	1200	$1,350	$1.12	21d	1	0.47mi
1510 N 10th St Unit FP205 Lafayette, IN	3.0	1.0	1050	$1,197	$1.14	13d	1	0.48mi
1707 Meharry St Lafayette, IN	3.0	2.0	1348	$1,500	$1.11	21d	1	0.57mi
1512 Main St Unit 1 Lafayette, IN	2.0	1.5	1200	$1,349	$1.12	13d	1	0.58mi
423 N 3rd St Lafayette, IN	2.0	1.0	1100	$1,379	$1.25	44d	1	0.65mi
711 South St Lafayette, IN	2.0	2.5	1550	$1,999	$1.29	44d	1	0.66mi
711 South St Lafayette, IN	2.0	2.5	1550	$1,824	$1.18	13d	1	0.66mi
117 N 5th St Lafayette, IN	2.0	1.0–1.5	1123	$1,632	$1.45	21d	4	0.67mi
500 South St Lafayette, IN	1.0–2.0	1.0–2.0	1232	$2,000	$1.62	21d	1	0.73mi
327 N 23rd St Lafayette, IN	4.0	2.5	2002	$1,995	$1.00	13d	1	0.77mi
224 S 14th St Lafayette, IN	4.0	2.0	1900	$1,810	$0.95	13d	1	0.78mi
1611 Grove St Lafayette, IN	3.0	1.5	1250	$1,195	$0.96	13d	1	0.78mi
475 South St Lafayette, IN	1.0–2.0	1.0–2.0	870	$2,100	$2.41	13d	12	0.79mi
102 N 3rd St Apt 3A Lafayette, IN	2.0	2.5	1725	$1,995	$1.16	44d	1	0.80mi
407 N 24th St Lafayette, IN	3.0	2.0	1388	$2,200	$1.59	44d	1	0.80mi
6 S 4th St Lafayette, IN	1.0–3.0	1.0–3.0	1102	$1,649	$1.50	13d	1	0.82mi
12 N 3rd St Unit 203 Lafayette, IN	2.0	2.0	1900	$2,695	$1.42	44d	1	0.83mi
205 S 6th St Lafayette, IN	2.0	1.0	1123	$1,200	$1.07	21d	1	0.83mi
320 Brown St West Lafayette, IN	1.0–4.0	1.0–2.0	835	$1,399	$1.68	13d	12	0.89mi
201 S 4th St #6 Lafayette, IN	2.0	2.5	1767	$2,250	$1.27	44d	1	0.90mi
400 N River Rd West Lafayette, IN	3.0	1.0–3.0	693	$1,229	$1.77	13d	42	0.93mi
1609 Arlington Rd Lafayette, IN	3.0	1.0	1268	$1,300	$1.03	21d	1	0.94mi
270 Littleton St West Lafayette, IN	4.0	1.0–2.5	972	$1,010	$1.04	21d	1	1.06mi
512 Portledge Commons Dr Lafayette, IN	1.0–2.0	1.0–2.0	978	$1,325	$1.35	44d	1	1.15mi
932 Robinson St West Lafayette, IN	3.0	1.5	1944	$2,800	$1.44	13d	1	1.31mi
2773 PROSPERITY WAY West Lafayette, IN	3.0	2.0	1691	$3,095	$1.83	21d	1	1.32mi
2209 Monon Ave Lafayette, IN	3.0	2.0	2200	$1,650	$0.75	44d	1	1.39mi

Listing history 19 events

1. 2026-06-19
   days on market $80,000 Active 90 DOM
2. 2026-06-18
   days on market $80,000 Active 89 DOM
3. 2026-06-17
   days on market $80,000 Active 88 DOM
4. 2026-06-16
   days on market $80,000 Active 87 DOM
5. 2026-06-15
   days on market $80,000 Active 86 DOM
6. 2026-06-14
   days on market $80,000 Active 84 DOM
7. 2026-06-13
   days on market $80,000 Active 83 DOM
8. 2026-06-10
   days on market $80,000 Active 81 DOM
9. 2026-06-09
   days on market $80,000 Active 80 DOM
10. 2026-06-08
    days on market $80,000 Active 79 DOM
11. 2026-06-07
    days on market $80,000 Active 78 DOM
12. 2026-06-02
    days on market $80,000 Active 73 DOM
13. 2026-06-01
    days on market $80,000 Active 72 DOM
14. 2026-05-31
    days on market $80,000 Active 71 DOM
15. 2026-05-30
    days on market $80,000 Active 70 DOM
16. 2026-05-06
    price $80,000 225-char remark

    Show marketing remark (225 chars)

    Lots of square footage for the money. Full basement. Convenient location near bus route. All offers are subject to OFAC clearance. A viewing release must be signed and returned to our office before showing this property.

17. 2026-03-21
    listed $85,000 Active 225-char remark

    Show marketing remark (225 chars)

    Lots of square footage for the money. Full basement. Convenient location near bus route. All offers are subject to OFAC clearance. A viewing release must be signed and returned to our office before showing this property.

18. 2025-07-20
    status Pending
19. 2025-07-16
    listed $99,000 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: $1,612 · $134/mo
• Projected year-2 tax: $1,612 · $134/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 · 19 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: $19,718
• − Mortgage interest: −$4,481
• − Property taxes: −$1,612
• − Insurance: −$400
• − Repairs & maintenance: −$1,577
• − Management: −$1,577
• − Depreciation: −$2,327
• Taxable income: $7,743
• Est. tax owed @ 24.0%: −$1,858
• After-tax cash flow: $6,673/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): 16,257
• Household income: $51,687
• Rent vs Own: 56.8% rent · 43.2% own
• Severe rent burden: 563.0

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% Hispanic / Latino 16% Two or more races 11% Black 5% Asian 1%
• Hispanic origin (detail): Mexican 14%
• Common ancestry: Romanian 3% Lithuanian 1% Iranian 1%
• Foreign-born: 9% · Canada, China
• Languages at home: 88% English-only · Spanish 10% Other Asian/Pacific 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: ▼ -147.53%
• Current HPI: 227.1555
• Rent YoY: ▲ 2.80%
• 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

-19.2% since first listed

4 events — show timeline

• 2026-05-06 Price Changed $80,000 IRMLS
• 2026-03-21 Listed $85,000 IRMLS
• 2025-07-20 Pending — IRMLS
• 2025-07-16 Listed $99,000 IRMLS

Property tax history

+16.8%/yr

Latest (2024): $1,612 · +334.3% YoY. Source: county tax records.