525 S 3rd St Lafayette, IN 47905
Ellsworth Romig NeighborhoodEstimated payment $2,590/month
Highlights
- Forced Air Heating System
- Level Lot
- 1-minute walk to South Tipp Park
About This Home
Turnkey 4-unit income property in a growing section of Downtown Lafayette. This fully occupied building includes two 2-bedroom units and two 1-bedroom units, generating $4,000/month in gross rents with a mix of tenant and landlord-paid utilities. Recent updates will reduce maintenance concerns and provide a solid foundation for long-term returns. With one lease ready for renewal in the coming month, there’s immediate upside to increase utility income and market rents, giving investors a clear path to enhance cash flow from day one. Centrally located, tenants enjoy walkable access to downtown shopping, dining, entertainment, ensuring strong demand in Lafayette’s expanding rental market for years to come. This property is ideal for investors looking to add stable, income-producing real estate to their portfolio in a high-demand area. Leases and financials available upon request.
Listing Agent
Keller Williams Lafayette Brokerage Phone: 765-413-6046 Listed on: 10/31/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $5,784
Year Built
- Built in 1921
Lot Details
- 6,534 Sq Ft Lot
- Lot Dimensions are 50x130
- Level Lot
Home Design
- Quadruplex
- Shingle Roof
- Vinyl Construction Material
Interior Spaces
- 2-Story Property
- Partially Finished Basement
- Block Basement Construction
Bedrooms and Bathrooms
- 6 Bedrooms
- 4 Full Bathrooms
Parking
- 4 Parking Spaces
- Unpaved Parking
Location
- Suburban Location
Schools
- Thomas Miller Elementary School
- Sunnyside/Tecumseh Middle School
- Jefferson High School
Utilities
- Window Unit Cooling System
- Forced Air Heating System
Listing and Financial Details
- The owner pays for electric, fuel
- Assessor Parcel Number 79-07-29-259-013.000-004
Community Details
Overview
- 4 Units
Building Details
- 2 Separate Electric Meters
- 2 Separate Gas Meters
- 2 Separate Water Meters
- Electric Expense $2,171
- Fuel Expense $2,172
- Insurance Expense $1,500
- Maintenance Expense $2,000
- Water Sewer Expense $1,080
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $5,643 | $282,000 | $13,000 | $269,000 |
| 2023 | $2,202 | $110,000 | $13,000 | $97,000 |
| 2022 | $2,109 | $105,300 | $13,000 | $92,300 |
| 2021 | $1,835 | $91,600 | $13,000 | $78,600 |
| 2020 | $1,836 | $91,600 | $13,000 | $78,600 |
| 2019 | $1,765 | $88,100 | $14,300 | $73,800 |
| 2018 | $1,766 | $88,100 | $14,300 | $73,800 |
| 2017 | $1,718 | $85,700 | $14,300 | $71,400 |
| 2016 | $1,698 | $84,870 | $14,300 | $70,570 |
| 2014 | $1,616 | $80,800 | $14,300 | $66,500 |
| 2013 | $1,500 | $75,000 | $14,300 | $60,700 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft | Prior Sale |
|---|---|---|---|---|---|
| 10/31/2025 10/31/25 | For Sale | $400,000 | +281.0% | $175 / Sq Ft | |
| 08/15/2019 08/15/19 | Sold | $105,000 | -19.2% | $46 / Sq Ft | View Prior Sale |
| 07/26/2019 07/26/19 | Pending | -- | -- | -- | |
| 07/08/2019 07/08/19 | Price Changed | $129,900 | -18.8% | $57 / Sq Ft | |
| 07/02/2019 07/02/19 | For Sale | $159,900 | -- | $70 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | -- | Royal Title Services | |
| Warranty Deed | -- | None Available | |
| Deed | -- | -- | |
| Interfamily Deed Transfer | -- | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $213,000 | New Conventional | |
| Previous Owner | $132,000 | Commercial |
Source: Indiana Regional MLS
MLS Number: 202544301
APN: 79-07-29-259-013.000-004
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