4675 Elijah St · West Lafayette, IN 47906

$284,900

4 bd · 2.5 ba · 2,112 sqft · SingleFamily public records

Built 2005 6,316 sqft lot Est $395k · 28% under

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Why this score? — see what drove the D+ 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).

• ARV discount +15.0/15.0
• Cash flow +12.6/30.0
• Livability +4.5/5.0
• Schools +4.0/10.0
• DSCR +3.7/10.0
• Rent growth +3.3/5.0
• 1% rule +2.5/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

Your next great investment opportunity starts here. Welcome to 4675 Elijah St located in the established subdivision of Phophets Ridge. With great upside potential, this is a property you don't want to miss on.

Key facts

• 6,316 sq ft lot
• 2 garage spots
• Built 2005

What this means for you Summary

Snapshot

• This is a 4-bed/2.5-bath single-family listed at $285k.

Deal economics

• At list price, monthly cash flow is $-39 ($-465/yr) — negative.
• To cash-flow at today's rent, offer at most $278k (2.4% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $215k (24.5% below list).
• Recommended offer: $215k (24.5% below list) — sets the bar for 1% rule.
• Cap rate 6.1% vs local median 3.0% in West 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 90/100 on livability (#1 in IN, #74 nationally) — a professional / high-income tenant draw. Strengths: crime A+, amenities A+, commute A+; Watch: housing C-, employment D.
• 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: Battle Ground Elementary School (math 57% / reading 59%, grade C+, #160 of 994 statewide, top 17%, 644 students, 38% FRL); Battle Ground Middle School (math 36% / reading 50%, grade D-, #92 of 330 statewide, top 29%, 739 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) — zoned schools at 35% FRL track the district average.
• Market conditions: Rents rising (+3.2%/yr); 342 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 1,341 units permitted in Tippecanoe County in 2024 (869 in 5+ unit buildings).
• At $2,150/mo this rent would consume 49% 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 $2k of loan paydown is wiped out by about $9k 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 0 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $215,011 (24.5% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are A-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.75% ✗
• Cap rate: 6.13%
• Cash-on-cash: -0.58%
• DSCR: 0.97
• GRM: 11.0

CMA / ARV

• ARV (on-the-fly): $394,944
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
4675 Elijah St	0.00mi	4/2.5	2,112 (0%)	1mo	$252,500	$120	99
567 Isaiah St	0.10mi	4/2.5	2,059 (-2%)	1mo	$340,000	$165	90
757 Matthew St	0.16mi	3/2.5 (-1)	2,121 (+0%)	5mo	$325,000	$153	83
228 Aqueduct Cir	0.21mi	3/2.0 (-1)	2,074 (-2%)	1mo	$425,000	$205	79
587 Elijah St	0.08mi	4/2.5	2,203 (+4%)	12mo	$340,000	$154	79
4562 Matthew St	0.14mi	4/2.5	2,000 (-5%)	13mo	$319,900	$160	74
4578 Matthew St	0.13mi	4/2.5	2,317 (+10%)	6mo	$330,000	$142	73
164 Aqueduct Cir	0.36mi	3/2.0 (-1)	2,198 (+4%)	2mo	$410,000	$187	67
5337 Maize Dr	0.67mi	3/2.0 (-1)	2,112 (0%)	1mo	$475,900	$225	61
224 Aqueduct Cir	0.23mi	3/2.0 (-1)	1,922 (-9%)	12mo	$375,000	$195	58
4260 Demeree Way	0.29mi	4/3.5	2,427 (+15%)	3mo	$560,000	$231	56
136 Aqueduct Cir	0.30mi	3/2.0 (-1)	1,838 (-13%)	7mo	$368,500	$200	52

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 · 3.2% rent growth · sell at horizon

5-year hold

• IRR: -17.1%
• Equity multiple: 0.39×
• Total profit: $-48,313
• Equity at exit: $42,480

10-year hold

• IRR: -8.8%
• Equity multiple: 0.45×
• Total profit: $-43,911
• Equity at exit: $24,633

Cash invested: $79,772 (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: 342
• Price-to-rent: 11.0×

Monthly cashflow live

• Estimated rent: $2,150 medium
• Mortgage (P&I): −$1,494
• Tax from tax record: −$125 /mo · $1,495/yr
• Insurance: −$119
• HOA: −$0
• Vacancy / Maint / Mgmt: −$452
• Net cashflow: $-39

Break-even live

Break-even rent $2,199

Max offer price $278,047

Occupancy floor 97%

Sensitivity live

Price	-10% $122	-5% $42	+0% $-39	+5% $-119	+10% $-200
Rent	-10% $-209	-5% $-124	+0% $-39	+5% $46	+10% $131
Rate	-1.0pp $105	-0.5pp $34	base $-39	+0.5pp $-113	+1.0pp $-188

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: $71,225
• Closing costs: $8,547
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
697 Matthew St West Lafayette, IN	3.0	2.0	1625	$2,300	$1.42	45d	1	0.18mi

Listing history 2 events

1. 2026-05-06
   historical
2. 2026-05-05
   listed $284,900

ⓘ 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: $1,495 · $125/mo
• Projected year-2 tax: $1,959 · $163/mo
• Expected delta: +$463/yr (+$39/mo · 31.0%)

ⓘ 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: $25,801
• − Mortgage interest: −$15,959
• − Property taxes: −$1,495
• − Insurance: −$1,424
• − Repairs & maintenance: −$2,064
• − Management: −$2,064
• − Depreciation: −$8,288
• Taxable loss: −$5,494
• Est. tax savings @ 24.0%: +$1,318
• After-tax cash flow: $853/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 — West Lafayette

• Score: 90/100
• State rank: #1
• US rank: #74

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: West Lafayette, IN
• County: Tippecanoe County · 181,820 people
• City population: 75,198
• 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

2 events — show timeline

• 2026-05-06 Delisted — IRMLS
• 2026-05-05 Listed $284,900 IRMLS

Property tax history

+16.3%/yr

Latest (2024): $1,495 · +17.0% YoY. Source: county tax records.