3652 Lansing Ct · Lafayette, IN 47905

$180,000

3 bd · 1.0 ba · 1,073 sqft · SingleFamily public records · 3 Days on market

Built 1971 7,518 sqft lot Est $227k · 21% 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 +14.3/30.0
• DSCR +4.4/10.0
• Rent growth +3.8/5.0
• Livability +3.7/5.0
• 1% rule +3.0/10.0
• Schools +2.6/10.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

If you are looking for a home with good bones look no further. Several of the big-ticket items have been replaced in the last 10 years. Newer roof, HVAC system, and flooring have been updated. While these major mechanicals have been replaced this home offers the perfect blank slate to make it your own with updated cosmetic finishes. This 3-beroom ranch offers a functional layout with a 2-car attached garage. Located on a quiet cul-de-sac, it?s the perfect opportunity to customize a home exactly to your taste without worrying about the roof over your head!

Key facts

• Quiet cul-de-sac
• Newer roof
• Updated flooring

Tags

• NEWER ROOF
• HVAC SYSTEM
• UPDATED FLOORING
• QUIET CUL-DE-SAC

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $180k.

Deal economics

• At list price, monthly cash flow is $34 ($409/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $145k (19.6% below list).
• Recommended offer: $145k (19.6% below list) — sets the bar for 1% rule.
• Cap rate 6.5% 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: Glen Acres Elementary School (math 42% / reading 37%, grade F, #500 of 994 statewide, top 53%, 542 students, 72% FRL); Jefferson High School (math 23% / reading 55%, grade F, #235 of 369 statewide, top 65%, 2,118 students, 69% FRL).
• Market conditions: Rents rising fast (+5.1%/yr); 219 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 21d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $1k of loan paydown is wiped out by about $5k 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 3 days on market — expect competitive offers; lowballing is unlikely to land.

Recommended offer $144,648 (19.6% below list)

Questions for the listing agent

1. Built in 1971 — 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. 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?
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 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: 0.80% ✗
• Cap rate: 6.52%
• Cash-on-cash: 0.81%
• DSCR: 1.04
• GRM: 10.4

CMA / ARV

• ARV (on-the-fly): $227,476
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3652 Lansing Ct	0.00mi	3/1.0	1,073 (0%)	1mo	$200,000	$186	99
1037 Shenandoah Dr	0.08mi	3/1.0	1,073 (0%)	6mo	$200,000	$186	91
924 Shenandoah Dr	0.09mi	3/1.5	1,056 (-2%)	1mo	$251,000	$238	90
1049 Shenandoah Dr	0.12mi	3/1.0	1,015 (-5%)	3mo	$177,000	$174	83
1212 Beaumont Dr	0.23mi	3/1.0	1,036 (-3%)	1mo	$225,000	$217	83
3612 Wausau Ct	0.16mi	3/1.0	1,068 (-0%)	10mo	$226,000	$212	83
1300 Shenandoah Dr	0.21mi	2/1.0 (-1)	1,044 (-3%)	3mo	$250,000	$239	78
3500 Hampton Dr	0.29mi	3/1.0	1,140 (+6%)	7mo	$196,000	$172	70
1716 Shenandoah Dr	0.58mi	3/1.5	1,092 (+2%)	1mo	$230,000	$211	67
910 Greenwich Rd	0.27mi	2/1.0 (-1)	1,000 (-7%)	7mo	$211,500	$212	66
1821 Arcadia Dr	0.63mi	3/1.0	1,008 (-6%)	2mo	$231,000	$229	59
1808 Arcadia Dr	0.59mi	3/1.5	1,190 (+11%)	6mo	$229,000	$192	47

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: -12.9%
• Equity multiple: 0.53×
• Total profit: $-23,906
• Equity at exit: $26,839

10-year hold

• IRR: -1.3%
• Equity multiple: 0.91×
• Total profit: $-4,766
• Equity at exit: $15,563

Cash invested: $50,400 (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 47905

• Home prices YoY: -33.2%
• Rents YoY: 5.1%
• Active inventory: 219
• Price-to-rent: 10.4×

Monthly cashflow live

• Estimated rent: $1,446 high
• Mortgage (P&I): −$944
• Tax from tax record: −$90 /mo · $1,076/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$304
• Net cashflow: $34

Break-even live

Break-even rent $1,403

Max offer price $180,000

Occupancy floor 93%

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3605 Wausau Ct Lafayette, IN	3.0	1.0	1073	$1,500	$1.40	43d	1	0.14mi
512 Portledge Commons Dr Lafayette, IN	1.0–2.0	1.0–2.0	978	$1,325	$1.35	43d	1	0.91mi
100 Tonto Trl Unit 4 Lafayette, IN	2.0	1.5	1197	$1,154	$0.96	13d	1	1.22mi
100 Tonto Trl Unit 10 1018 Lafayette, IN	2.0	2.0	990	$1,205	$1.22	21d	1	1.22mi
100 Tonto Trl Unit 04 401 Lafayette, IN	2.0	1.5	1197	$1,275	$1.07	43d	1	1.22mi
100 Tonto Trl Unit 1 Lafayette, IN	2.0	1.0	988	$1,209	$1.22	13d	1	1.22mi
100 Tonto Trl Unit 09 907 Lafayette, IN	2.0	1.5	1200	$1,275	$1.06	13d	1	1.22mi
335 S 31st St Lafayette, IN	2.0	1.0	840	$1,250	$1.49	13d	1	1.25mi
1609 Arlington Rd Lafayette, IN	3.0	1.0	1268	$1,300	$1.03	21d	1	1.30mi
407 N 24th St Lafayette, IN	3.0	2.0	1388	$2,200	$1.59	43d	1	1.34mi

Listing history 2 events

1. 2026-04-17
   status Pending
2. 2026-04-14
   listed $180,000 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: $1,076 · $90/mo
• Projected year-2 tax: $1,303 · $109/mo
• Expected delta: +$227/yr (+$19/mo · 21.1%)

ⓘ 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: $17,358
• − Mortgage interest: −$10,083
• − Property taxes: −$1,076
• − Insurance: −$900
• − Repairs & maintenance: −$1,389
• − Management: −$1,389
• − Depreciation: −$5,236
• Taxable loss: −$2,715
• Est. tax savings @ 24.0%: +$652
• After-tax cash flow: $1,061/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

Price history

2 events — show timeline

• 2026-04-17 Pending — IRMLS
• 2026-04-14 Listed $180,000 IRMLS

Property tax history

+8.2%/yr

Latest (2024): $1,076 · +14.4% YoY. Source: county tax records.