2200 N 250 E · Kokomo, IN 46901

$135,000

2 bd · 2.0 ba · 1,512 sqft · Manufactured public records · 1 Days on market

Built 2020 Est $101k · 33% over ↓ 10% since listing

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Why this score? — see what drove the D- 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 +16.7/30.0
• DSCR +5.2/10.0
• Schools +4.6/10.0
• 1% rule +3.7/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This brand new 30 acre development will give you a chance to own your own new construction home on your own land for under $100/sq ft! These state of the art manufactured homes are the home of your future. The Pulse floor plan offers over 1,500 sq ft of living space! Nice sized family room & large living room, both open to the fully applianced eat-in kitchen with plenty of cabinetry, large island! The private master suite has it's own bathroom and walk-in closet. This split floor plan also features two additional bedrooms and another full bath. The large laundry/mud room would be a great "catch all" and offers additional storage space. Creative financing is available!

Key facts

• Private well
• Storage shed
• Custom fire pit area

Tags

• FULLY FENCED BACKYARD
• SUNSET VIEWS
• EXPANDED BACK DECK
• CUSTOM FIRE PIT AREA
• STORAGE SHED
• PRIVATE WELL

What this means for you Summary

Snapshot

• This is a 2-bed/2.0-bath manufactured listed at $135k.

Deal economics

• At list price, monthly cash flow is $83 ($996/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $117k (13.3% below list).
• Recommended offer: $117k (13.3% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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, schools F, amenities F.
• Northwestern School Corporation (rural): math 50% / reading 53% proficiency, ranked #35 of 301 in IN (top 12%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease; only 20% free/reduced lunch — higher-income household profile.
• Market conditions: Rents soft (-1.5%/yr); 246 active listings in the ZIP; 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 $933 of loan paydown is wiped out by about $4k 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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 5y 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.

Recommended offer $117,007 (13.3% below list)

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. 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?
3. 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?
4. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.87% ✗
• Cap rate: 7.03%
• Cash-on-cash: 2.63%
• DSCR: 1.12
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $101,304
• Comps found: 1

Show comp detail 1 sale within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2042 White Oak Dr	0.04mi	3/2.0 (+1)	1,512 (0%)	16mo	$102,000	$67	80

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: -15.3%
• Equity multiple: 0.47×
• Total profit: $-20,058
• Equity at exit: $20,129

10-year hold

• IRR: -12.3%
• Equity multiple: 0.36×
• Total profit: $-24,069
• Equity at exit: $11,672

Cash invested: $37,800 (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: 9.6×

Monthly cashflow live

• Estimated rent: $1,170 medium
• Mortgage (P&I): −$708
• Tax from tax record: −$77 /mo · $926/yr
• Insurance: −$56
• HOA: −$0
• Vacancy / Maint / Mgmt: −$246
• Net cashflow: $83

Break-even live

Break-even rent $1,065

Max offer price $135,000

Occupancy floor 88%

Sensitivity live

Price	-10% $159	-5% $121	+0% $83	+5% $45	+10% $7
Rent	-10% $-9	-5% $37	+0% $83	+5% $129	+10% $175
Rate	-1.0pp $151	-0.5pp $117	base $83	+0.5pp $48	+1.0pp $12

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: $33,750
• Closing costs: $4,050
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-21
   remarks 655-char remark
2. 2026-06-21
   days on marketlisting id $135,000 Active 1 DOM
3. 2026-06-19
   days on market $135,000 Active 6 DOM
4. 2026-06-18
   days on market $135,000 Active 5 DOM
5. 2026-06-17
   days on market $135,000 Active 4 DOM
6. 2026-06-16
   days on market $135,000 Active 3 DOM
7. 2026-06-15
   days on market $135,000 Active 2 DOM
8. 2026-06-14
   remarks 623-char remark
9. 2026-06-14
   listed $135,000 Active 1 DOM

ⓘ 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: $926 · $77/mo
• Projected year-2 tax: $1,037 · $86/mo
• Expected delta: +$111/yr (+$9/mo · 12.0%)

ⓘ 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 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,041
• − Mortgage interest: −$7,562
• − Property taxes: −$926
• − Insurance: −$675
• − Repairs & maintenance: −$1,123
• − Management: −$1,123
• − Depreciation: −$3,927
• Taxable loss: −$1,296
• Est. tax savings @ 24.0%: +$311
• After-tax cash flow: $1,307/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: Northwestern School Corporation
• NCES district ID: 1802040
• Math proficiency: 50% ▲ 2.00%
• Reading proficiency: 53% ▬ 0.00%
• Median HH income: $68,602
• Composite: 45.8/100
• National rank: #2559
• State rank: #35 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

• 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

-9.9% since first listed

3 events — show timeline

• 2026-06-14 Listed $135,000 FSBO.com
• 2021-07-01 Sold (MLS) $149,900 IRMLS
• 2021-05-04 Listed $149,900 IRMLS

Property tax history

+42.5%/yr

Latest (2024): $926 · +10.6% YoY. Source: county tax records.