3028 Commanche Trl · Lafayette, IN 47909

$124,900

3 bd · 1.0 ba · 925 sqft · SingleFamily public records

Built 1965 6,098 sqft lot Est $202k · 38% under

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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 +27.8/30.0
• ARV discount +15.0/15.0
• DSCR +9.8/10.0
• 1% rule +6.9/10.0
• 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

Excellent starter home or investment property - brand new roof, gutters and carpet; newer furnace, some new paint. CLEAN and move-in ready! Newer deck in the backyard, which is completely fenced. Larger kitchen for this size home with walk-in pantry and bonus room behind the attached garage. Great location close to schools, restaurants and shopping. This won't last long!

Key facts

• 6,098 sq ft lot
• Garage
• Built 1965

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $379 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $125k).
• Cap rate 9.9% 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 (+2.7%/yr); 186 active listings in the ZIP; 10 comparable units currently listed for rent nearby; rentals at typical pace (median 14d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $864 of loan paydown is wiped out by about $4k 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 + 2.7% rent growth), your $35k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 9y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $78k; list at $125k implies a 60% gain — meaningful room to come down on a strong offer.

Recommended offer $124,900

Questions for the listing agent

1. Built in 1965 — 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. 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: 1.19% ✓
• Cap rate: 9.93%
• Cash-on-cash: 13.00%
• DSCR: 1.58
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $201,650
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
3028 Commanche Trl	0.00mi	3/1.0	925 (0%)	0mo	$120,000	$130	100
2225 Beck Ln	0.25mi	3/1.0	925 (0%)	0mo	$228,000	$246	88
3222 Chaucer Dr	0.28mi	3/1.0	957 (+4%)	1mo	$150,000	$157	80
3345 Chaucer Dr	0.47mi	3/1.0	915 (-1%)	2mo	$185,000	$202	75
3017 Fairwood Dr	0.43mi	3/1.0	950 (+3%)	1mo	$210,000	$221	74
2408 Shasta Dr	0.12mi	3/1.0	1,025 (+11%)	4mo	$205,000	$200	73
1105 Southlea Dr	0.65mi	3/1.0	925 (0%)	3mo	$122,000	$132	68
1045 Southlea Dr	0.66mi	3/1.0	925 (0%)	2mo	$190,000	$205	67
3462 Chaucer Dr	0.40mi	3/1.0	1,036 (+12%)	2mo	$226,000	$218	59
2508 Edgelea Dr	0.74mi	3/1.0	864 (-7%)	0mo	$206,000	$238	54
1219 Davis Dr	0.74mi	3/1.0	832 (-10%)	3mo	$200,000	$240	46
2541 Edgelea Dr	0.67mi	3/1.0	816 (-12%)	4mo	$189,000	$232	46

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 · 2.74% rent growth · sell at horizon

5-year hold

• IRR: 2.6%
• Equity multiple: 1.10×
• Total profit: $3,488
• Equity at exit: $18,623

10-year hold

• IRR: 11.9%
• Equity multiple: 1.93×
• Total profit: $32,450
• Equity at exit: $10,799

Cash invested: $34,972 (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 47909

• Rents YoY: 2.7%
• Active inventory: 186
• Price-to-rent: 7.0×

Monthly cashflow live

• Estimated rent: $1,483 high
• Mortgage (P&I): −$655
• Tax from tax record: −$85 /mo · $1,023/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$311
• Net cashflow: $379

Break-even live

Break-even rent $1,003

Max offer price $124,900

Occupancy floor 69%

Sensitivity live

Price	-10% $450	-5% $414	+0% $379	+5% $344	+10% $308
Rent	-10% $262	-5% $320	+0% $379	+5% $438	+10% $496
Rate	-1.0pp $442	-0.5pp $411	base $379	+0.5pp $347	+1.0pp $314

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 10 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3090 Pheasant Run Dr Lafayette, IN	3.0	1.0–2.0	852	$1,591	$1.87	14d	52	0.52mi
2760 Medford St Lafayette, IN	3.0	1.0	938	$1,400	$1.49	14d	1	0.56mi
3331 Mystic Ln Lafayette, IN	1.0–2.0	1.0	714	$1,195	$1.67	14d	27	0.62mi
2411 S 18th St Unit 2415 Lafayette, IN	3.0	1.0	1000	$1,160	$1.16	14d	1	0.70mi
2433 Oxford St Lafayette, IN	2.0	1.0	672	$1,025	$1.53	44d	1	0.81mi
90 Bridgewater Ct Apt 11 Lafayette, IN	2.0	2.0	1000	$1,125	$1.12	44d	1	0.85mi
3224 S 9th St Lafayette, IN	1.0–3.0	1.0–2.0	825	$1,520	$1.84	14d	18	0.87mi
3200 Quarry Dr Lafayette, IN	1.0–2.0	1.0	742	$1,305	$1.76	14d	4	1.21mi
2121 Kyra Dr Lafayette, IN	1.0–3.0	1.0–2.0	1035	$1,640	$1.58	14d	1	1.26mi
2450 S Earl Ave Lafayette, IN	1.0–2.0	1.0	755	$1,214	$1.61	14d	3	1.29mi

Listing history 4 events

1. 2026-05-11
   listed $124,900
2. 2026-05-11
   historical
3. 2017-09-01
   soldstatus $78,000 373-char remark

   Show marketing remark (373 chars)

   Excellent starter home or investment property - brand new roof, gutters and carpet; newer furnace, some new paint. CLEAN and move-in ready! Newer deck in the backyard, which is completely fenced. Larger kitchen for this size home with walk-in pantry and bonus room behind the attached garage. Great location close to schools, restaurants and shopping. This won't last long!

4. 2017-06-27
   listed $78,900 373-char remark

   Show marketing remark (373 chars)

   Excellent starter home or investment property - brand new roof, gutters and carpet; newer furnace, some new paint. CLEAN and move-in ready! Newer deck in the backyard, which is completely fenced. Larger kitchen for this size home with walk-in pantry and bonus room behind the attached garage. Great location close to schools, restaurants and shopping. This won't last long!

ⓘ 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: $1,023 · $85/mo
• Projected year-2 tax: $1,042 · $87/mo
• Expected delta: +$19/yr (+$2/mo · 1.9%)

ⓘ 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 ≥101°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: $17,791
• − Mortgage interest: −$6,996
• − Property taxes: −$1,023
• − Insurance: −$624
• − Repairs & maintenance: −$1,423
• − Management: −$1,423
• − Depreciation: −$3,633
• Taxable income: $2,667
• Est. tax owed @ 24.0%: −$640
• After-tax cash flow: $3,907/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): 43,561
• Household income: $68,035
• Rent vs Own: 34.0% rent · 66.0% own
• Severe rent burden: 1332.0

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 (75%)
• Race & ethnicity: White 75% Hispanic / Latino 12% Black 8% Two or more races 7% Asian 2%
• Hispanic origin (detail): Mexican 9%
• Common ancestry: Iranian 2% Slovak 2% Italian 2%
• Foreign-born: 7% · Canada
• Languages at home: 92% English-only · Spanish 6% Other Indo-European 1% French/Haitian/Cajun 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: ▼ -131.96%
• Current HPI: 214.2557
• Rent YoY: ▲ 2.74%
• 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

+58.3% since first listed

4 events — show timeline

• 2026-05-11 Listed $124,900 MIBOR as Distributed by MLS Grid
• 2026-05-11 Listing Removed — MIBOR as Distributed by MLS Grid
• 2017-09-01 Sold (MLS) $78,000 IRMLS
• 2017-06-27 Listed $78,900 IRMLS

Property tax history

-3.4%/yr

Latest (2024): $1,023 · +13.6% YoY. Source: county tax records.