130 W Navajo St · West Lafayette, IN 47906

$250,000

3 bd · 1.5 ba · 1,523 sqft · Condo public records · 3 Days on market

Built 1978

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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).

• Cash flow +12.1/30.0
• ARV discount +7.5/15.0
• Schools +5.6/10.0
• Livability +4.5/5.0
• DSCR +3.6/10.0
• 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

Great 3 Bedroom ranch with 1523 living square feet. Condo offers open floor plan with family room, 1 1/2 baths, 3 bedrooms, 2 car garage. Very clean, move-in ready. Conveniently located to shopping and Purdue University. Condo fee $275.00 per month. Condo also offers patio and a 23x20 garage.

Key facts

• Move-in ready
• Open floor plan
• Patio

Tags

• OPEN FLOOR PLAN
• MOVE-IN READY
• CONVENIENTLY LOCATED
• PATIO

Property features AI

Finance

• Other: Approximately 1,523 above-grade finished area; Six total rooms

Exterior

• Parking: Attached garage; 2 garage spaces; Concrete driveway; Off-street parking
• Security: Smoke detectors
• Utilities: Public water; Public sewer; Cable available
• Home design: Condominium; Single-story; Residential property; Subdivision: Wabash Gardens
• Construction: Aluminum siding and brick exterior; Asphalt shingle roof; Built with a slab/no basement
• Exterior features: Patio; Level lot

Interior

• Kitchen: Disposal; Dishwasher; Microwave; Refrigerator; Electric range; Laminate counters
• Bedrooms: Master bedroom located on the main level
• Flooring: Carpet; Vinyl
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Electric heating; Heat pump; Central air; Ceiling fans
• Interior features: Entrance foyer; Open floorplan; Ceiling fans; Laminate counters; Master bedroom on main level; Window treatments; One fireplace
• Laundry & utility: Washer and dryer included; Laundry on main level; Electric water heater; Water softener (owned)

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath condo listed at $250k.

Deal economics

• At list price, monthly cash flow is $-53 ($-636/yr) — negative.
• To cash-flow at today's rent, offer at most $241k (3.7% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $186k (25.4% below list).
• Recommended offer: $186k (25.4% below list) — sets the bar for 1% rule.
• Cap rate 6.0% 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.
• West Lafayette Community School Corporation (urban): math 66% / reading 70% proficiency, ranked #9 of 301 in IN (top 3%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 11% free/reduced lunch — higher-income household profile.
• Zoned schools: West Lafayette Elementary School (math 77% / reading 72%, grade A, #17 of 994 statewide, top 2%, 740 students, 26% FRL); West Lafayette Intermediate School (math 66% / reading 64%, grade A-, #7 of 330 statewide, top 2%, 568 students, 24% FRL); West Lafayette Jr/Sr High School (math 64% / reading 76%, grade B+, #17 of 369 statewide, top 4%, 1,112 students, 19% FRL).
• Market conditions: Rents rising (+3.2%/yr); 342 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 15d 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 42% of the median local income ($53k/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 $2k of loan paydown is wiped out by about $8k 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 $186,497 (25.4% 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. Built in 1978 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
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 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: 0.75% ✗
• Cap rate: 6.04%
• Cash-on-cash: -0.91%
• DSCR: 0.96
• GRM: 11.2

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: -17.6%
• Equity multiple: 0.38×
• Total profit: $-43,604
• Equity at exit: $37,276

10-year hold

• IRR: -9.5%
• Equity multiple: 0.41×
• Total profit: $-41,154
• Equity at exit: $21,615

Cash invested: $70,000 (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: 342
• Price-to-rent: 11.2×

Monthly cashflow live

• Estimated rent: $1,865 high
• Mortgage (P&I): −$1,311
• Tax from tax record: −$111 /mo · $1,333/yr
• Insurance: −$104
• HOA: −$0
• Vacancy / Maint / Mgmt: −$392
• Net cashflow: $-53

Break-even live

Break-even rent $1,932

Max offer price $240,642

Occupancy floor 98%

Sensitivity live

Price	-10% $89	-5% $18	+0% $-53	+5% $-124	+10% $-194
Rent	-10% $-200	-5% $-127	+0% $-53	+5% $21	+10% $94
Rate	-1.0pp $73	-0.5pp $11	base $-53	+0.5pp $-118	+1.0pp $-184

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: $62,500
• Closing costs: $7,500
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2601 Soldiers Home Rd West Lafayette, IN	2.0	1.0–1.5	1002	$1,225	$1.22	15d	1	0.26mi
2616 Willow Dr West Lafayette, IN	3.0	1.5	1357	$1,745	$1.29	15d	1	0.40mi
1820 Ravinia Rd West Lafayette, IN	3.0	2.0	1800	$1,975	$1.10	23d	1	0.67mi
2550 Yeager Rd West Lafayette, IN	1.0–3.0	1.0–2.0	845	$1,129	$1.34	15d	1	0.75mi
1117 Anthrop Dr West Lafayette, IN	3.0–4.0	2.0	1508	$525	$0.35	15d	1	0.77mi
1136 Anthrop Dr West Lafayette, IN	2.0	1.5	1349	$1,400	$1.04	23d	1	0.77mi
1304 Palmer Dr West Lafayette, IN	3.0	3.0	1486	$779	$0.52	45d	1	1.06mi
166 Prophet Dr West Lafayette, IN	3.0	2.0	1153	$2,200	$1.91	23d	1	1.12mi
932 Robinson St West Lafayette, IN	3.0	1.5	1944	$2,800	$1.44	15d	1	1.19mi
3483 Apollo Ln West Lafayette, IN	3.0	1.0–3.0	806	$2,615	$3.24	15d	1	1.44mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 2 events

1. 2026-05-02
   status Pending
2. 2026-04-29
   listed $250,000 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: $1,333 · $111/mo
• Projected year-2 tax: $1,729 · $144/mo
• Expected delta: +$396/yr (+$33/mo · 29.7%)

ⓘ 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: $22,380
• − Mortgage interest: −$14,004
• − Property taxes: −$1,333
• − Insurance: −$1,250
• − Repairs & maintenance: −$1,790
• − Management: −$1,790
• − Depreciation: −$7,273
• Taxable loss: −$5,061
• Est. tax savings @ 24.0%: +$1,215
• After-tax cash flow: $579/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: West Lafayette Community School Corporation
• NCES district ID: 1812870
• Math proficiency: 66% ▼ -6.00%
• Reading proficiency: 70% ▼ -2.00%
• Median HH income: $29,857
• Composite: 55.77/100
• National rank: #1215
• State rank: #9 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

• 2026-05-02 Pending — IRMLS
• 2026-04-29 Listed $250,000 IRMLS

Property tax history

+3.8%/yr

Latest (2024): $1,333 · +6.5% YoY. Source: county tax records.