1118 S 2nd St, Lafayette, IN, 47905 | $692/mo Cash Flow

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Monthly Cash Flow: 1 - 3k+

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1118 S 2nd St, Lafayette, IN, 47905 | $692/mo Cash Flow | Ziffy

For Sale

Currently Rented

Rental Income

Ziffy Mortgage

NMLS #2625701

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Ziffy AI Summary

A quick, investor-focused snapshot highlighting income strength, yield potential.

Key metrics	Value
Price	$399,900
Est. Rent	$3,200/mo
ROI	18%

Attractive rent-to-price ratio for income stability
Good fit for DSCR financing with healthy coverage

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Investment Highlights

Investment property for sale in Lafayette at 1118 S 2nd St, Lafayette, IN, 47905 listed at $165,000 pairs $1,683/mo rent with a $808/mo payment to leave $692/mo cash flow. Total monthly income runs $1,683/mo, and annual cash flow reaches $8,305/yr on $54,698 cash to close. Return on cash invested measures 35.09% in year one, and rental yield registers 12.24% at a $165,000 basis. Equity gained on principal adds $1,065/yr, and annual property appreciation at 5% supports $45,586 by year five. Five-year ROI tracks 184.11% and total cumulative return in cash totals $100,703. Financing can be arranged with Ziffy Mortgage’s DSCR loan, which qualifies using $1,683/mo property income relative to a $808/mo payment rather than your personal income (W2, Tax Returns, Paystubs, or 1099).

Multi Family

Built in 1935

5,662 sqft lot

$N/A/sqft

No HOA

More details about the property

This duplex investment property offers a fantastic opportunity with one side currently rented, unit 1 with a long-term tenant. Unit 1 offers 2 beds/1 bath, a spacious living room, separate dining area, a covered porch in addition to the front porch and a large, fenced yard. Unit 2 which was remodeled in 2023, offers 1 bed/1 bath, roomy living room and a private entrance with off road parking. There is a garage and carport on the property as well. With its location close to downtown, this investment provides both convenience and accessibilty for current or future tenants. In 2023, this unit received new flooring, new paint, baseboard heating in addition to all new appliances. Owner only pays water and sewer in the utility category. New Gutters and new siding on back unit were also added in.

Neighborhood Data

Neighborhood data shown for ZIP Code: 47905, Lafayette, IN area.

Housing Distribution

Housing Statistics

Category	Value
Total HU (Housing Units)	19,630 (100%)
Owner Occupied HU	10,991 (56.0%)
Renter Occupied HU	7,333 (37.4%)
Vacant Housing Units	1,306 ( 6.7%)
Median Home Value	$254,797
Average Home Value	$312,191