1229 N Courtland Ave · Kokomo, IN 46901

$94,900

2 bd · 1.0 ba · 872 sqft · SingleFamily public records · 8 Days on market

Built 1885 6,098 sqft lot Est $95k · at est.

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Why this score? — see what drove the C- 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 +22.7/30.0
• ARV discount +7.6/15.0
• DSCR +7.3/10.0
• 1% rule +5.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to 1229 N Courtland Ave—this nicely updated 2-bedroom, 1-bath home offers 872 sq ft of comfortable living space. Step inside to find fresh paint throughout and a recently updated kitchen that brings a modern touch to the home. The layout is efficient and easy to maintain, making it a great fit for first-time buyers, downsizers, or investors. With recent updates already completed, this home is move-in ready and offers a great opportunity at an affordable price point. Conveniently located near local amenities, shopping, and schools. Property is ownded by 2 realtors

Key facts

• Fresh paint
• Updated kitchen
• Move in ready

Tags

• UPDATED KITCHEN
• FRESH PAINT
• MOVE IN READY
• CONVENIENTLY LOCATED

Property features AI

Finance

• Other: Lot dimensions approximately 50 x 120 (0.14 acres)
• Financial info: Tax information not included (financial specifics excluded)
• HOA & community: HOA information not provided

Exterior

• Parking: Parking details not provided
• Security: Security features not provided
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); One-story
• Construction: Vinyl siding exterior; Block foundation; Built year not provided
• Exterior features: Level lot; Yard shed(s)

Interior

• Kitchen: Appliances not specified
• Bedrooms: Bedrooms not specified
• Flooring: Flooring not specified
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Full basement; 4 total rooms
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $163 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Cap rate 8.3% vs local median 5.2% in Kokomo — 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 68/100 on livability (#227 in IN) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A; Watch: crime D, amenities F, commute F.
• Kokomo School Corporation (urban): math 22% / reading 30% proficiency, ranked #264 of 301 in IN (top 88%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover; 62% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Lafayette Park Elementary School (math 27% / reading 22%, grade F, #762 of 994 statewide, top 78%, 434 students, 74% FRL); Central Middle School (math 23% / reading 38%, grade F, #203 of 330 statewide, top 63%, 458 students, 57% FRL); Kokomo High School (math 19% / reading 48%, grade F, #289 of 369 statewide, top 78%, 1,519 students, 58% FRL) — zoned schools at 63% FRL track the district average.
• Market conditions: Rents soft (-1.5%/yr); 246 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% of comp listings sitting > 30 days — soft ceiling on asking rent; 194 units permitted in Howard County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $656 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Howard County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1885 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $94,900

Questions for the listing agent

1. Built in 1885 — 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 F-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 D 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: 1.06% ✓
• Cap rate: 8.35%
• Cash-on-cash: 7.34%
• DSCR: 1.33
• GRM: 7.9

CMA / ARV

• ARV (on-the-fly): $95,048
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1229 N Courtland Ave	0.00mi	2/1.0	872 (0%)	0mo	$84,900	$97	100
1608 N Courtland Ave	0.24mi	2/1.0	840 (-4%)	2mo	$119,900	$143	81
611 N Indiana Ave	0.46mi	2/1.0	888 (+2%)	1mo	$64,900	$73	74
1018 N Armstrong St	0.23mi	1/1.0 (-1)	804 (-8%)	4mo	$31,200	$39	68
1613 N Apperson Way	0.61mi	2/1.0	838 (-4%)	2mo	$80,000	$95	63
621 W Elm St	0.17mi	3/1.0 (+1)	984 (+13%)	6mo	$70,000	$71	60
311 E Broadway St	0.48mi	2/2.0	952 (+9%)	1mo	$115,000	$121	58
1407 W Havens St	0.55mi	2/1.0	792 (-9%)	2mo	$124,900	$158	58
1120 W Madison St	0.48mi	2/1.0	988 (+13%)	2mo	$10,000	$10	54
2114 N Buckeye St	0.64mi	2/1.0	960 (+10%)	0mo	$110,000	$115	53
723 E North St	0.75mi	2/1.0	964 (+11%)	6mo	$105,000	$109	43
1400 W Jackson St	0.72mi	3/1.0 (+1)	768 (-12%)	0mo	$108,000	$141	41

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 · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -8.4%
• Equity multiple: 0.70×
• Total profit: $-7,977
• Equity at exit: $14,150

10-year hold

• IRR: -3.3%
• Equity multiple: 0.81×
• Total profit: $-5,015
• Equity at exit: $8,205

Cash invested: $26,572 (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 46901

• Home prices YoY: -24.4%
• Rents YoY: -1.5%
• Active inventory: 246
• Price-to-rent: 7.9×

Monthly cashflow live

• Estimated rent: $1,007 high
• Mortgage (P&I): −$498
• Tax from tax record: −$96 /mo · $1,146/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$211
• Net cashflow: $163

Break-even live

Break-even rent $801

Max offer price $94,900

Occupancy floor 79%

Sensitivity live

Price	-10% $216	-5% $189	+0% $163	+5% $136	+10% $109
Rent	-10% $83	-5% $123	+0% $163	+5% $202	+10% $242
Rate	-1.0pp $210	-0.5pp $187	base $163	+0.5pp $138	+1.0pp $113

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: $23,725
• Closing costs: $2,847
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1020 E Fischer St Kokomo, IN	2.0	1.0	720	$950	$1.32	45d	1	1.34mi
2241 W Jefferson St Kokomo, IN	2.0	1.0	605	$895	$1.48	25d	4	1.38mi
2864 Amberwood Pl Kokomo, IN	1.0–2.0	1.0	836	$1,069	$1.28	45d	4	1.39mi
800 N Dixon Rd Kokomo, IN	2.0	1.0	885	$1,100	$1.24	25d	7	1.43mi
800 N Dixon Rd Kokomo, IN	2.0	1.0	885	$1,050	$1.19	0d	2	1.43mi

Listing history 10 events

1. 2026-05-31
   status $94,900 Pending 8 DOM
2. 2026-05-30
   days on market $94,900 Active 8 DOM
3. 2026-05-22
   listed $94,900 Active
4. 2026-05-18
   price $99,900
5. 2026-05-06
   price $104,900
6. 2026-04-29
   price $109,900
7. 2026-04-24
   price $114,900
8. 2026-04-21
   listed $119,900 Active
9. 2026-01-27
   price $52,000
10. 2026-01-23
    listed $54,900 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: $1,146 · $96/mo
• Projected year-2 tax: $1,146 · $96/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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 · 17 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,079
• − Mortgage interest: −$5,316
• − Property taxes: −$1,146
• − Insurance: −$474
• − Repairs & maintenance: −$966
• − Management: −$966
• − Depreciation: −$2,761
• Taxable income: $449
• Est. tax owed @ 24.0%: −$108
• After-tax cash flow: $1,842/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: Kokomo School Corporation
• NCES district ID: 1805370
• Math proficiency: 22% ▼ -8.00%
• Reading proficiency: 30% ▼ -5.00%
• Median HH income: $35,804
• Composite: 21.5/100
• National rank: #8325
• State rank: #264 of 301 in IN

Livability — Kokomo

• Score: 68/100
• State rank: #227
• US rank: #9912

Category grades

Amenities F Commute F Cost of living A+ Crime D Employment D- Housing A+ Health & safety A User ratings D

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Kokomo, IN
• County: Howard County · 75,099 people
• City population: 75,099
• Metro: Kokomo, IN
• Population (ZIP): 38,082
• Household income: $60,495
• Rent vs Own: 30.0% rent · 70.0% own
• Severe rent burden: 1116.0

Population outlook (Howard County) Hauer SSP2

• Today (2025): 81,522 people
• By 2030: 80,104 · -1.7%
• By 2040: 76,708 · -5.9%
• By 2050: 72,880 · -10.6%
• By 2075: 64,016 · -21.5%
• By 2100: 51,705 · -36.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (83%)
• Race & ethnicity: White 83% Black 9% Two or more races 5% Hispanic / Latino 4%
• Common ancestry: Italian 2% Romanian 2% Slovak 1%
• Foreign-born: 1% · Canada
• Languages at home: 96% English-only · German/W. Germanic 1% Spanish 1%

Political lean MEDSL · Howard

• 2024 margin: Solid R (+35.3) · D 31.4% · R 66.7% · Other 1.8%
• 2008→2024 swing: -29.1pp toward R · 2008: -6.2pp · 2024: -35.3pp
• All cycles: 2024: R+35.3 2020: R+32.4 2016: R+33.9 2012: R+14.3 2008: R+6.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.40%
• Current HPI: 242.2565
• Rent YoY: ▼ -1.47%
• Metro: Kokomo, 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

+72.9% since first listed

8 events — show timeline

• 2026-05-22 Listed $94,900 IRMLS
• 2026-05-18 Price Changed $99,900 IRMLS
• 2026-05-06 Price Changed $104,900 IRMLS
• 2026-04-29 Price Changed $109,900 IRMLS
• 2026-04-24 Price Changed $114,900 IRMLS
• 2026-04-21 Listed $119,900 IRMLS
• 2026-01-27 Price Changed $52,000 IRMLS
• 2026-01-23 Listed $54,900 IRMLS

Property tax history

+5.1%/yr

Latest (2024): $1,146 · +8.9% YoY. Source: county tax records.