603 E North St · Kokomo, IN 46901

$89,000

2 bd · 1.0 ba · 864 sqft · SingleFamily public records · 11 Days on market

Built 1915 5,184 sqft lot Est $94k · 5% under

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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 +22.8/30.0
• ARV discount +10.0/15.0
• DSCR +7.3/10.0
• 1% rule +6.1/10.0
• 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 MLS

This nicely updated home features nearly 900 sqft of living space and is conveniently located on Kokomo's north side. As you walk up to the home, you will notice the large covered from porch. Thru the front door is a large living room/dining room with vinyl plank flooring. The two bedrooms are carpeted with closets. The kitchen has stainless appliances with white cabinets which pop against the dark counters and tile backsplash. The full bathroom has a nice vanity, tile flooring, and features a tub/shower combo. The partial basement is home to the laundry room and utilities. The basement foundation has been professionally worked on and a french drain is present on the south and west walls. Other features include: updated vinyl windows, fresh paint, pex pipe, 100 amp electrical svc, HVAC ~ 5 years old, alley access. Home is sold AS-IS, but inspections welcome.

Key facts

• Laminate floors
• Carpet floors
• Furnished with stove

Tags

• LAMINATE FLOORS
• CARPET FLOORS
• FURNISHED WITH REFRIGERATOR
• FURNISHED WITH STOVE
• FURNISHED WITH DISHWASHER
• FURNISHED WITH WASHER

Property features AI

Finance

• Other: Pets allowed

Exterior

• Parking: 2 open parking spaces; Gravel off-street parking
• Utilities: Public water; Public sewer
• Home design: Residential income property; Other subtype; One story
• Construction: Vinyl siding; Asphalt roof; Block foundation; Built with above-grade finished area reported
• Exterior features: Covered patio/porch; Level lot

Interior

• Kitchen: Dishwasher; Range; Refrigerator
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 1 full bathroom; 2 main-level bathrooms
• Heating & cooling: Central air conditioning; Forced air heating; Natural gas heating
• Interior features: Dishwasher; Range; Refrigerator; Carpet flooring; Laminate flooring; Vinyl flooring
• Laundry & utility: Washer hookup; Dryer

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $155 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($987 rent vs $89k).
• Cap rate 8.4% 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: Bon Air Elementary School (math 22% / reading 12%, grade F, #837 of 994 statewide, top 86%, 232 students, 83% 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 66% FRL track the district average.
• Market conditions: Rents soft (-1.5%/yr); 242 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 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 $615 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 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 8y ago; this cycle's ask has dropped $10k (10%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $69k; 29% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1915 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,000

Questions for the listing agent

1. Built in 1915 — 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: 1.11% ✓
• Cap rate: 8.39%
• Cash-on-cash: 7.48%
• DSCR: 1.33
• GRM: 7.5

CMA / ARV

• ARV (on-the-fly): $94,176
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1613 N Apperson Way	0.25mi	2/1.0	838 (-3%)	2mo	$80,000	$95	81
723 E North St	0.10mi	2/1.0	964 (+12%)	6mo	$105,000	$109	71
1229 N Courtland Ave	0.65mi	2/1.0	872 (+1%)	0mo	$84,900	$97	68
311 E Broadway St	0.22mi	2/2.0	952 (+10%)	1mo	$115,000	$121	68
1100 E Taylor St	0.66mi	2/1.0	882 (+2%)	2mo	$53,000	$60	64
1608 N Courtland Ave	0.66mi	2/1.0	840 (-3%)	2mo	$119,900	$143	63
1001 E Broadway St	0.32mi	3/1.0 (+1)	952 (+10%)	6mo	$90,000	$95	58
1142 E Jefferson St	0.62mi	2/1.0	910 (+5%)	6mo	$119,900	$132	57
1018 N Armstrong St	0.53mi	1/1.0 (-1)	804 (-7%)	4mo	$31,200	$39	55
2018 N Purdum St	0.49mi	3/1.0 (+1)	768 (-11%)	0mo	$99,900	$130	53
2114 N Buckeye St	0.67mi	2/1.0	960 (+11%)	0mo	$110,000	$115	50
621 W Elm St	0.71mi	3/1.0 (+1)	984 (+14%)	6mo	$70,000	$71	34

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: -8.3%
• Equity multiple: 0.70×
• Total profit: $-7,401
• Equity at exit: $13,270

10-year hold

• IRR: -3.3%
• Equity multiple: 0.81×
• Total profit: $-4,803
• Equity at exit: $7,695

Cash invested: $24,920 (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: 242
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $987 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$121 /mo · $1,450/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $155

Break-even live

Break-even rent $791

Max offer price $89,000

Occupancy floor 79%

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1020 E Fischer St Kokomo, IN	2.0	1.0	720	$950	$1.32	43d	1	0.95mi
2864 Amberwood Pl Kokomo, IN	1.0–2.0	1.0	836	$1,069	$1.28	43d	4	1.44mi

Listing history 11 events

1. 2026-05-31
   status $89,000 Pending 11 DOM
2. 2026-05-30
   days on market $89,000 Active 11 DOM
3. 2026-05-19
   listed $99,000 Active
4. 2026-02-21
   historical $950
5. 2026-02-07
   listed $950
6. 2023-08-14
   soldstatus $69,000 Closed 870-char remark

   Show marketing remark (870 chars)

   This nicely updated home features nearly 900 sqft of living space and is conveniently located on Kokomo's north side. As you walk up to the home, you will notice the large covered from porch. Thru the front door is a large living room/dining room with vinyl plank flooring. The two bedrooms are carpeted with closets. The kitchen has stainless appliances with white cabinets which pop against the dark counters and tile backsplash. The full bathroom has a nice vanity, tile flooring, and features a tub/shower combo. The partial basement is home to the laundry room and utilities. The basement foundation has been professionally worked on and a french drain is present on the south and west walls. Other features include: updated vinyl windows, fresh paint, pex pipe, 100 amp electrical svc, HVAC ~ 5 years old, alley access. Home is sold AS-IS, but inspections welcome.

7. 2023-08-09
   historical 870-char remark

   Show marketing remark (870 chars)

   This nicely updated home features nearly 900 sqft of living space and is conveniently located on Kokomo's north side. As you walk up to the home, you will notice the large covered from porch. Thru the front door is a large living room/dining room with vinyl plank flooring. The two bedrooms are carpeted with closets. The kitchen has stainless appliances with white cabinets which pop against the dark counters and tile backsplash. The full bathroom has a nice vanity, tile flooring, and features a tub/shower combo. The partial basement is home to the laundry room and utilities. The basement foundation has been professionally worked on and a french drain is present on the south and west walls. Other features include: updated vinyl windows, fresh paint, pex pipe, 100 amp electrical svc, HVAC ~ 5 years old, alley access. Home is sold AS-IS, but inspections welcome.

8. 2023-07-17
   status Pending 870-char remark

   Show marketing remark (870 chars)

   This nicely updated home features nearly 900 sqft of living space and is conveniently located on Kokomo's north side. As you walk up to the home, you will notice the large covered from porch. Thru the front door is a large living room/dining room with vinyl plank flooring. The two bedrooms are carpeted with closets. The kitchen has stainless appliances with white cabinets which pop against the dark counters and tile backsplash. The full bathroom has a nice vanity, tile flooring, and features a tub/shower combo. The partial basement is home to the laundry room and utilities. The basement foundation has been professionally worked on and a french drain is present on the south and west walls. Other features include: updated vinyl windows, fresh paint, pex pipe, 100 amp electrical svc, HVAC ~ 5 years old, alley access. Home is sold AS-IS, but inspections welcome.

9. 2023-06-15
   listed $75,000 Active 870-char remark

   Show marketing remark (870 chars)

   This nicely updated home features nearly 900 sqft of living space and is conveniently located on Kokomo's north side. As you walk up to the home, you will notice the large covered from porch. Thru the front door is a large living room/dining room with vinyl plank flooring. The two bedrooms are carpeted with closets. The kitchen has stainless appliances with white cabinets which pop against the dark counters and tile backsplash. The full bathroom has a nice vanity, tile flooring, and features a tub/shower combo. The partial basement is home to the laundry room and utilities. The basement foundation has been professionally worked on and a french drain is present on the south and west walls. Other features include: updated vinyl windows, fresh paint, pex pipe, 100 amp electrical svc, HVAC ~ 5 years old, alley access. Home is sold AS-IS, but inspections welcome.

10. 2018-07-09
    soldstatus $47,000 299-char remark

    Show marketing remark (299 chars)

    Nicely updated two bedroom, one bathroom home with an open floor plan. Recent updates include: air conditioner, furnace, laminate floors, carpet, fresh paint, kitchen cabinets, countertops, and appliances. The home has an unfinished, but usable basement that could be used for storage or a workshop.

11. 2018-05-01
    listed $47,500 299-char remark

    Show marketing remark (299 chars)

    Nicely updated two bedroom, one bathroom home with an open floor plan. Recent updates include: air conditioner, furnace, laminate floors, carpet, fresh paint, kitchen cabinets, countertops, and appliances. The home has an unfinished, but usable basement that could be used for storage or a workshop.

ⓘ 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: $1,450 · $121/mo
• Projected year-2 tax: $1,450 · $121/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: $11,848
• − Mortgage interest: −$4,985
• − Property taxes: −$1,450
• − Insurance: −$445
• − Repairs & maintenance: −$948
• − Management: −$948
• − Depreciation: −$2,589
• Taxable income: $483
• Est. tax owed @ 24.0%: −$116
• After-tax cash flow: $1,748/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

+108.4% since first listed

9 events — show timeline

• 2026-05-19 Listed $99,000 IRMLS
• 2026-02-21 Rental Removed $950 IRMLS
• 2026-02-07 Listed for Rent $950 IRMLS
• 2023-08-14 Sold (MLS) $69,000 IRMLS
• 2023-08-09 Delisted — IRMLS
• 2023-07-17 Pending — IRMLS
• 2023-06-15 Listed $75,000 IRMLS
• 2018-07-09 Sold (MLS) $47,000 IRMLS
• 2018-05-01 Listed $47,500 IRMLS

Property tax history

+8.1%/yr

Latest (2024): $1,450 · +169.0% YoY. Source: county tax records.