1709 N Webster St · Kokomo, IN 46901

$180,000

12 bd · 12.0 ba · 2,560 sqft · MultiFamily · 248 Days on market

Built 1910 8,712 sqft lot

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Why this score? — see what drove the B- 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 +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +9.7/10.0
• ARV discount +7.5/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

4 Units, 3 are occupied. Tenants Rights apply.

Key facts

• 8,712 sq ft lot
• Built 1910
• Listed 247 days

Property features AI

Finance

• Other: Pets allowed

Exterior

• Utilities: Public water; Public sewer
• Home design: Residential income property (quadruplex / fourplex); Two-story building
• Construction: Vinyl siding
• Exterior features: Level lot

Interior

• Kitchen: Range; Refrigerator
• Flooring: Carpet
• Bathrooms: Four full bathrooms (all on the main level)
• Heating & cooling: Forced air heating (natural gas); Wall-unit cooling
• Interior features: Range and refrigerator included; Crawl space basement
• Laundry & utility: Washer hookup

What this means for you Summary

Snapshot

• This is a 3 × 1-bed/1.0-bath units multifamily listed at $180k.

Deal economics

• At list price, monthly cash flow is $853 ($10k/yr) — positive. Per door: $284/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($3k rent vs $180k).
• Recommended offer: $158k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.0% 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, 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); Bon Air Middle School (math 12% / reading 17%, grade F, #300 of 330 statewide, top 91%, 194 students, 84% FRL); Kokomo High School (math 19% / reading 48%, grade F, #289 of 369 statewide, top 78%, 1,519 students, 58% FRL).
• Market conditions: Rents soft (-1.5%/yr); 242 active listings in the ZIP; 194 units permitted in Howard County in 2024 (0 in 5+ unit buildings).
• At $2,654/mo this rent would consume 53% of the median local household income ($60k/yr) (locally 1116% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $5k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $50k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 248 days — a 12% lower offer ($158k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y ago; this cycle's ask is 9% above the opening price — seller raised mid-cycle; expect resistance to lowballs.
• Current owner paid $14k; list at $180k implies a 1186% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $158,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 248 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.47% ✓
• Cap rate: 11.98%
• Cash-on-cash: 20.30%
• DSCR: 1.90
• GRM: 5.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 9.1%
• Equity multiple: 1.35×
• Total profit: $17,405
• Equity at exit: $26,839

10-year hold

• IRR: 15.6%
• Equity multiple: 2.10×
• Total profit: $55,193
• Equity at exit: $15,563

Cash invested: $50,400 (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: 17.0×

Monthly cashflow live

• Estimated rent: $2,654 medium
• Mortgage (P&I): −$944
• Tax est. 1.5%: −$225 /mo · $2,700/yr
• Insurance: −$75
• HOA: −$0
• Vacancy / Maint / Mgmt: −$557
• Net cashflow: $853

Break-even live

Break-even rent $1,575

Max offer price $180,000

Occupancy floor 63%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 3× units	1	1	$2,655
Total (3 units)			$2,654

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: $45,000
• Closing costs: $5,400
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-19
   days on market $180,000 Active 248 DOM
2. 2026-06-18
   days on market $180,000 Active 247 DOM
3. 2026-06-17
   days on market $180,000 Active 246 DOM
4. 2026-06-16
   days on market $180,000 Active 245 DOM
5. 2026-06-15
   days on market $180,000 Active 244 DOM
6. 2026-06-14
   days on market $180,000 Active 242 DOM
7. 2026-06-13
   days on market $180,000 Active 241 DOM
8. 2026-06-10
   days on market $180,000 Active 239 DOM
9. 2026-06-09
   days on market $180,000 Active 238 DOM
10. 2026-06-08
    days on market $180,000 Active 237 DOM
11. 2026-06-07
    days on market $180,000 Active 236 DOM
12. 2026-06-02
    days on market $180,000 Active 231 DOM
13. 2026-06-01
    days on market $180,000 Active 230 DOM
14. 2026-05-31
    days on market $180,000 Active 229 DOM
15. 2026-05-30
    days on market $180,000 Active 228 DOM
16. 2026-04-13
    price $180,000
17. 2025-12-15
    price $150,000
18. 2025-10-31
    status Active
19. 2025-10-23
    historical Active Under Contract
20. 2025-10-13
    listed $165,000 Active
21. 2016-11-18
    soldstatus $14,000 46-char remark

    Show marketing remark (46 chars)

    4 Units, 3 are occupied. Tenants Rights apply.

22. 2016-08-15
    listed $20,000 46-char remark

    Show marketing remark (46 chars)

    4 Units, 3 are occupied. Tenants Rights apply.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $31,848
• − Mortgage interest: −$10,083
• − Property taxes: −$2,700
• − Insurance: −$900
• − Repairs & maintenance: −$2,548
• − Management: −$2,548
• − Depreciation: −$5,236
• Taxable income: $7,833
• Est. tax owed @ 24.0%: −$1,880
• After-tax cash flow: $8,353/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

+800.0% since first listed

7 events — show timeline

• 2026-04-13 Price Changed $180,000 IRMLS
• 2025-12-15 Price Changed $150,000 IRMLS
• 2025-10-31 Relisted — IRMLS
• 2025-10-23 Contingent — IRMLS
• 2025-10-13 Listed $165,000 IRMLS
• 2016-11-18 Sold (MLS) $14,000 IRMLS
• 2016-08-15 Listed $20,000 IRMLS