1411 N 14th St · Lafayette, IN 47904

$99,900

1 bd · 0.5 ba · 1,600 sqft · MultiFamily · 267 Days on market

Built 1940 Poor condition 1,951 sqft lot $62/sqft · 48% below area Est $191k · 48% under ↓ 16% 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
• DSCR +10.0/10.0
• 1% rule +8.7/10.0
• Livability +3.7/5.0
• Rent growth +3.2/5.0
• Schools +2.6/10.0
• Condition / age +1.0/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

Exciting commercial retail space is now available on the vibrant outskirts of downtown! This is a fantastic opportunity for any small business owner ready to establish their own unique space. The property boasts a 900 SF storefront along with an additional 700 SF garage perfect for storage or equipment needs. It includes 1 restroom, and there's even a delightful bonus storage area in the attic accessed by a convenient set of stairs. Previously rented at $975/month, with the tenant covering all utilities, and recently vacant. Don’t miss out on discovering the incredible potential this building offers for your small business and beyond! Property has been inspected and repairs made. Being sold AS-IS.

Key facts

• 1,951 sq ft lot
• Garage
• Built 1940

🏷️ Possibly a rental listed for sale. The $99,900 price doesn't fit this home's estimated sale value (~$190,878) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 1-bed/0.5-bath multifamily listed at $100k. Condition is rated poor.

Deal economics

• At list price, monthly cash flow is $393 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $100k).
• Recommended offer: $88k (12.0% below list) — sets the bar for market timing.
• Cap rate 11.0% 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; 21 comparable units currently listed for rent nearby; rentals at typical pace (median 21d 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 32% 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 $691 of loan paydown is wiped out by about $3k 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 $28k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 267 days — a 12% lower offer ($88k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $19k (16%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $87,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 267 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
3. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 1.37% ✓
• Cap rate: 11.01%
• Cash-on-cash: 16.86%
• DSCR: 1.75
• GRM: 6.1

CMA / ARV

• ARV (median comp): $190,878
• List price: $99,900
• Delta: -47.66%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 2.8% rent growth · sell at horizon

5-year hold

• IRR: 7.9%
• Equity multiple: 1.31×
• Total profit: $8,585
• Equity at exit: $14,895

10-year hold

• IRR: 17.0%
• Equity multiple: 2.38×
• Total profit: $38,661
• Equity at exit: $8,638

Cash invested: $27,972 (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: 6.1×

Monthly cashflow live

• Estimated rent: $1,371 high
• Mortgage (P&I): −$524
• Tax est. 1.5%: −$125 /mo · $1,498/yr
• Insurance: −$42
• HOA: −$0
• Vacancy / Maint / Mgmt: −$288
• Net cashflow: $393

Break-even live

Break-even rent $874

Max offer price $99,900

Occupancy floor 66%

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: $24,975
• Closing costs: $2,997
• Reserves months: —
• Total cash needed: —

Rent comps 21 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
816 Salem St Lafayette, IN	1.0	1.0	1284	$850	$0.66	43d	1	0.51mi
802 N 9th St Lafayette, IN	2.0	1.0–2.0	902	$774	$0.86	13d	1	0.56mi
400 N 9th St Lafayette, IN	1.0–2.0	1.0–2.0	1600	$2,300	$1.44	43d	2	0.80mi
1024 Main St Unit 10245 Lafayette, IN	2.0	1.0	1200	$1,350	$1.12	21d	1	0.88mi
423 N 3rd St Lafayette, IN	2.0	1.0	1100	$1,379	$1.25	43d	1	0.95mi
1512 Main St Unit 1 Lafayette, IN	2.0	1.5	1200	$1,349	$1.12	13d	1	0.97mi
400 N River Rd West Lafayette, IN	3.0	1.0–3.0	693	$849	$1.22	13d	42	1.00mi
117 N 5th St Lafayette, IN	2.0	1.0–1.5	1123	$1,632	$1.45	21d	4	1.04mi
711 South St Lafayette, IN	2.0	2.5	1550	$1,824	$1.18	13d	1	1.07mi
711 South St Lafayette, IN	2.0	2.5	1550	$1,999	$1.29	43d	1	1.07mi
320 Brown St West Lafayette, IN	1.0–4.0	1.0–2.0	835	$999	$1.20	13d	12	1.08mi
500 South St Lafayette, IN	1.0–2.0	1.0–2.0	1232	$1,200	$0.97	21d	1	1.11mi
102 N 3rd St Apt 3A Lafayette, IN	2.0	2.5	1725	$1,995	$1.16	43d	1	1.14mi
475 South St Lafayette, IN	1.0–2.0	1.0–2.0	870	$1,389	$1.60	13d	12	1.17mi
270 Littleton St West Lafayette, IN	4.0	1.0–2.5	972	$800	$0.82	21d	1	1.18mi
12 N 3rd St Unit 203 Lafayette, IN	2.0	2.0	1900	$2,695	$1.42	43d	1	1.18mi
6 S 4th St Lafayette, IN	1.0–3.0	1.0–3.0	1102	$1,299	$1.18	13d	1	1.18mi
124 S 6th St Unit 2 Lafayette, IN	1.0	1.0	1200	$1,795	$1.50	21d	1	1.22mi
205 S 6th St Lafayette, IN	2.0	1.0	1123	$1,200	$1.07	21d	1	1.23mi
512 Portledge Commons Dr Lafayette, IN	1.0–2.0	1.0–2.0	978	$1,175	$1.20	43d	1	1.27mi
201 S 4th St #6 Lafayette, IN	2.0	2.5	1767	$2,250	$1.27	43d	1	1.28mi

Listing history 20 events

1. 2026-06-19
   days on market $99,900 Active 267 DOM
2. 2026-06-18
   days on market $99,900 Active 266 DOM
3. 2026-06-17
   days on market $99,900 Active 265 DOM
4. 2026-06-16
   days on market $99,900 Active 264 DOM
5. 2026-06-15
   days on market $99,900 Active 263 DOM
6. 2026-06-14
   days on market $99,900 Active 261 DOM
7. 2026-06-13
   days on market $99,900 Active 260 DOM
8. 2026-06-10
   days on market $99,900 Active 258 DOM
9. 2026-06-09
   days on market $99,900 Active 257 DOM
10. 2026-06-08
    days on market $99,900 Active 256 DOM
11. 2026-06-07
    days on market $99,900 Active 255 DOM
12. 2026-06-02
    days on market $99,900 Active 250 DOM
13. 2026-06-01
    days on market $99,900 Active 249 DOM
14. 2026-05-31
    days on market $99,900 Active 248 DOM
15. 2026-05-30
    days on market $99,900 Active 247 DOM
16. 2026-04-23
    price $99,900 712-char remark

    Show marketing remark (712 chars)

    Exciting commercial retail space is now available on the vibrant outskirts of downtown! This is a fantastic opportunity for any small business owner ready to establish their own unique space. The property boasts a 900 SF storefront along with an additional 700 SF garage perfect for storage or equipment needs. It includes 1 restroom, and there's even a delightful bonus storage area in the attic accessed by a convenient set of stairs. Previously rented at $975/month, with the tenant covering all utilities, and recently vacant. Don’t miss out on discovering the incredible potential this building offers for your small business and beyond! Property has been inspected and repairs made. Being sold AS-IS.

17. 2025-12-28
    status Active 712-char remark

    Show marketing remark (712 chars)

    Exciting commercial retail space is now available on the vibrant outskirts of downtown! This is a fantastic opportunity for any small business owner ready to establish their own unique space. The property boasts a 900 SF storefront along with an additional 700 SF garage perfect for storage or equipment needs. It includes 1 restroom, and there's even a delightful bonus storage area in the attic accessed by a convenient set of stairs. Previously rented at $975/month, with the tenant covering all utilities, and recently vacant. Don’t miss out on discovering the incredible potential this building offers for your small business and beyond! Property has been inspected and repairs made. Being sold AS-IS.

18. 2025-12-28
    price $114,900 712-char remark

    Show marketing remark (712 chars)

    Exciting commercial retail space is now available on the vibrant outskirts of downtown! This is a fantastic opportunity for any small business owner ready to establish their own unique space. The property boasts a 900 SF storefront along with an additional 700 SF garage perfect for storage or equipment needs. It includes 1 restroom, and there's even a delightful bonus storage area in the attic accessed by a convenient set of stairs. Previously rented at $975/month, with the tenant covering all utilities, and recently vacant. Don’t miss out on discovering the incredible potential this building offers for your small business and beyond! Property has been inspected and repairs made. Being sold AS-IS.

19. 2025-11-24
    status Pending 712-char remark

    Show marketing remark (712 chars)

    Exciting commercial retail space is now available on the vibrant outskirts of downtown! This is a fantastic opportunity for any small business owner ready to establish their own unique space. The property boasts a 900 SF storefront along with an additional 700 SF garage perfect for storage or equipment needs. It includes 1 restroom, and there's even a delightful bonus storage area in the attic accessed by a convenient set of stairs. Previously rented at $975/month, with the tenant covering all utilities, and recently vacant. Don’t miss out on discovering the incredible potential this building offers for your small business and beyond! Property has been inspected and repairs made. Being sold AS-IS.

20. 2025-08-23
    listed $119,000 Active 712-char remark

    Show marketing remark (712 chars)

    Exciting commercial retail space is now available on the vibrant outskirts of downtown! This is a fantastic opportunity for any small business owner ready to establish their own unique space. The property boasts a 900 SF storefront along with an additional 700 SF garage perfect for storage or equipment needs. It includes 1 restroom, and there's even a delightful bonus storage area in the attic accessed by a convenient set of stairs. Previously rented at $975/month, with the tenant covering all utilities, and recently vacant. Don’t miss out on discovering the incredible potential this building offers for your small business and beyond! Property has been inspected and repairs made. Being sold AS-IS.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Taxation est. · year 1

• Rental income: $16,456
• − Mortgage interest: −$5,596
• − Property taxes: −$1,498
• − Insurance: −$500
• − Repairs & maintenance: −$1,316
• − Management: −$1,316
• − Depreciation: −$2,906
• Taxable income: $3,323
• Est. tax owed @ 24.0%: −$797
• After-tax cash flow: $3,918/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.

Condition & rehab AI · 14 photos

Poor 20/100 Extensive rehab

This property requires extensive repairs and renovations to bring it up to a livable condition. The exposed concrete floor, missing cabinets and fixtures, and missing siding and walls are major issues that need to be addressed. The property has potential for significant value increase with the right renovations.

Repairs flagged

• Major Exposed concrete floor — The floor is exposed and needs to be covered with appropriate flooring
• Major Missing cabinets and fixtures — The kitchen and bathroom need to be fully equipped with cabinets and fixtures
• Major Missing siding — The exterior needs to be fully covered with siding
• Major Missing walls and paint — The interior needs to be fully covered with walls and painted

Value-add opportunities

• Resale New flooring — New flooring will improve the appearance and functionality of the space
• Resale New cabinets and fixtures — New cabinets and fixtures will improve the functionality and appearance of the kitchen and bathroom
• Resale New siding — New siding will improve the appearance and functionality of the exterior
• Resale New walls and paint — New walls and paint will improve the appearance and functionality of the interior
• Rental HVAC system — A functional HVAC system will improve the comfort and functionality of the space, making it more appealing to tenants

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exposed concrete floor · The floor is exposed and needs to be covered with appropriate flooring	Major	$15,000–50,000
Missing cabinets and fixtures · The kitchen and bathroom need to be fully equipped with cabinets and fixtures	Major	$15,000–50,000
Missing siding · The exterior needs to be fully covered with siding	Major	$15,000–50,000
Missing walls and paint · The interior needs to be fully covered with walls and painted	Major	$15,000–50,000
Total estimated repair cost · 4 items		$60,000–200,000

Value-add ROI direction

• Resale New flooring — New flooring will improve the appearance and functionality of the space ↑
• Resale New cabinets and fixtures — New cabinets and fixtures will improve the functionality and appearance of the kitchen and bathroom ↑
• Resale New siding — New siding will improve the appearance and functionality of the exterior ↑
• Resale New walls and paint — New walls and paint will improve the appearance and functionality of the interior ↑
• Rental HVAC system — A functional HVAC system will improve the comfort and functionality of the space, making it more appealing to tenants ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

-16.1% since first listed

5 events — show timeline

• 2026-04-23 Price Changed $99,900 IRMLS
• 2025-12-28 Relisted — IRMLS
• 2025-12-28 Price Changed $114,900 IRMLS
• 2025-11-24 Pending — IRMLS
• 2025-08-23 Listed $119,000 IRMLS