$192,907Average Value$155Average Price per Sq Ft2Homes For Sale
Price point, good schools attract families, entry-level buyers
Homes that arrived in Southlea on a truck over six decades ago are a testament to affordability and practicality. Located 4 miles south of downtown Lafayette, Southlea is one of the subdivisions comprised of prefabricated homes built by Lafayette-based National Real Estate Company in the 1950s. This small subdivision of primarily ranch-style homes is four miles south of downtown Lafayette. "They don't do too bad," Jennifer O'Shea says of the prefab homes. O'Shea is a lifelong Lafayette resident and a Realtor with KW who's been selling homes in the area for 25 years.
Rising demand and low inventory tighten market
Although these homes have been regarded as rental-focused properties, market demand has shifted that focus. Demand for homes here is fierce as housing affordability challenges home buyers. Demand in neighborhoods like Southlea has soared in recent years, as evidenced by homes spending 12 days on the market compared to the national average of 43 days. "Years ago, it used to be…oh, that's a rental neighborhood. That is no longer the case because inventory is so low," O'Shea says. Most homes are ranch-style with three bedrooms and one bathroom. Some have carports, and some have a one-car garage. "These are older homes. The newer homes are starting at $250,000 to $350,000, while homes in Southlea and Edgelea are probably $150,000 to $200,000 at the most," O'Shea says. Indeed, Southlea prices range from $140,000 to $190,000.
Jefferson High School students can take dual credit courses with Purdue University
Children may attend Edgelea Elementary School, which earns an A-minus from Niche before moving on to B-minus-rated Sunnyside Intermediate School and Lafayette Tecumseh Junior High School. High Schoolers can attend A-minus-rated Jefferson High School, which offers an expansive dual-credit program with Purdue University and Ivy Tech Community College.
Drivers 5 miles away from Interstate
Southlea is close to vital transport routes, with Interstate 65 just 5 miles away. This makes for easy travel to hubs like Indianapolis and Chicago, which are 60 and 125 miles away, respectively. Although most residents get around by car, public transportation is an option, with several CityBus stops along Beck Lane and S. 18th Street.
Armstrong Park right next door
Directly adjacent to Southlea, Armstrong Park provides a delightful respite for residents of all ages. Named for astronaut and Purdue Alumnus Neil Armstrong, this park features an aquatic complex, a paved walking trail, playgrounds, lighted sports courts and expansive green space. Manitou Park and the Linear Trail offer more tranquil venues for communing with nature. Hikers, rollerbladers, and cross-country skiers can be seen getting their outdoor exercise on the Linear Trail, which runs parallel to the Norfolk & Western railroad tracks.
Favorite local pubs include Walt's Other Pub and Teays River Brewery & Public House
Two of Lafayette's favorite pubs are within walking distance of Southlea. Trueblood Real Estate Realtor Rebecca Wright is a big fan of both. She highly recommends the Paradise Salad, burgers and wings at Walt's Other Pub. Teays River Brewery and Public House, known for its home-brewed beers, features live music on Wednesday nights. Wright has lived in the area for 17 years. Grocery shopping is less than 2 miles away at Pay Less or the Walmart Super Center, 3 miles away.
Taste of Tippecanoe draws 40,000
Several annual events bring locals together to celebrate their own. Each June, downtown Lafayette closes down its main streets to make room for A Taste of Tippecanoe. This fundraiser for the Tippecanoe Arts Federation draws up to 40,000 visitors who come to enjoy local foods and live entertainment. In July, the 4-H Club holds its week-long fair at the Tippecanoe Fairgrounds, a mile away.
Risk of flooding potential concern for some Southlea residents
Residents should know there's an increased risk of flooding at the neighborhood's south end along Southlea Drive and the north end along Beck Lane.
GreatSchools:
The GreatSchools Rating helps parents compare schools within a state based on a variety of school quality indicators and provides a helpful picture of how effectively each school serves all of its students. Ratings are on a scale of 1 (below average) to 10 (above average) and can include test scores, college readiness, academic progress, advanced courses, equity, discipline and attendance data. We also advise parents to visit schools, consider other information on school performance and programs, and consider family needs as part of the school selection process.
View GreatSchools Rating Methodology
On average, homes in Southlea, Lafayette sell after 19 days on the market compared to the national average of 52 days. The median sale price for homes in Southlea, Lafayette over the last 12 months is $180,000, up 4% from the median home sale price over the previous 12 months.
Great starter home or investment property. Open and spacious main living space, newer flooring, fresh paint throughout, 3 bedrooms, 1 full bath, attached garage, covered front porch, and fenced in backyard. Washer and dryer stay.
Beautifully remodeled home on 0.24 acres on a quiet cul de sac in the Southlea neighborhood! This home has been completely and stylishly renovated floor to ceiling in every room - new flooring, light fixtures, outlets, switches, cabinets and counters, gas fireplace, smart thermostat, bathroom fixtures and some new Pella windows. Furnace and roof replaced 2018 (including gutter covers!), new hot
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Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. Our sources include: Accuweather, Public Records and Neustar. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
