1610 N Jay St · Kokomo, IN 46901

$122,000

2 bd · 1.0 ba · 912 sqft · SingleFamily public records · 56 Days on market

Built 1923 6,534 sqft lot Est $108k · 13% over

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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 +16.1/30.0
• DSCR +5.0/10.0
• Livability +3.4/5.0
• 1% rule +3.1/10.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Schools +2.1/10.0
• ARV discount +1.5/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don't miss this great investment opportunity in Kokomo! This 2-bedroom, 1-bathroom home offers 912 square feet of potential, perfect for a fixer-upper project or a savvy addition to your rental portfolio. The property includes a partial unfinished basement, providing extra storage or renovation possibilities. Outside you will find a nice size deck to relax on. Key updates include a new roof and gas water heater, both replaced in 2015. With solid bones and a convenient location, this home is ready for your vision and improvements. Whether you're an investor or DIY enthusiast, this is a chance to build value and make it your own!

Key facts

• Spacious yard
• Move-in-ready
• Full basement

Tags

• MOVE-IN-READY
• UPDATED KITCHEN
• COVERED FRONT ENTRY
• SPACIOUS YARD
• FULL BASEMENT

Property features AI

Finance

• Other: Lot approximately 0.15 acres (50 x 132)

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; One story
• Construction: Vinyl siding; Crawl space / partial unfinished basement
• Exterior features: Level lot

Interior

• Kitchen: Includes dishwasher and microwave
• Bedrooms: Total of 4 rooms (bedrooms and living spaces combined); main-level bedroom count not specified
• Bathrooms: 1 full bathroom (on the main level)
• Heating & cooling: Natural gas forced-air heating; No central cooling
• Interior features: Dishwasher; Microwave
• Laundry & utility: Laundry located in the basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $122k.

Deal economics

• At list price, monthly cash flow is $63 ($756/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 $98k (19.3% below list).
• Recommended offer: $98k (19.3% below list) — sets the bar for 1% rule.
• Cap rate 6.9% 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; 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 $843 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

• It's been on market 56 days — a 3% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 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.
• Current owner paid $38k; list at $122k implies a 221% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1923 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $98,495 (19.3% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 19% concession, seller financing, or rate buy-down credit?
2. Built in 1923 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
6. 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?
7. 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.
8. 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.
9. 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: 0.81% ✗
• Cap rate: 6.91%
• Cash-on-cash: 2.21%
• DSCR: 1.10
• GRM: 10.3

CMA / ARV

• ARV (on-the-fly): $107,616
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
723 E North St	0.23mi	2/1.0	964 (+6%)	6mo	$105,000	$109	75
728 E Broadway St	0.33mi	2/1.0	936 (+3%)	7mo	$110,000	$118	75
1613 N Apperson Way	0.23mi	2/1.0	838 (-8%)	2mo	$80,000	$95	74
311 E Broadway St	0.48mi	2/2.0	952 (+4%)	1mo	$115,000	$121	65
1001 E Broadway St	0.38mi	3/1.0 (+1)	952 (+4%)	6mo	$90,000	$95	65
2114 N Buckeye St	0.60mi	2/1.0	960 (+5%)	0mo	$110,000	$115	63
1142 E Jefferson St	0.75mi	2/1.0	910 (-0%)	6mo	$119,900	$132	60
1912 Northview Blvd	0.67mi	3/1.5 (+1)	936 (+3%)	2mo	$180,000	$192	56
916 E Dixon St	0.27mi	3/1.0 (+1)	1,040 (+14%)	4mo	$125,000	$120	56
1108 E Gano St	0.60mi	3/1.0 (+1)	832 (-9%)	4mo	$122,000	$147	49
2316 N Washington St	0.74mi	2/1.0	836 (-8%)	3mo	$40,000	$48	49
1117 Brentwood Dr	0.64mi	3/1.0 (+1)	1,008 (+10%)	0mo	$67,500	$67	47

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: -15.8%
• Equity multiple: 0.45×
• Total profit: $-18,709
• Equity at exit: $18,191

10-year hold

• IRR: -12.7%
• Equity multiple: 0.34×
• Total profit: $-22,542
• Equity at exit: $10,548

Cash invested: $34,160 (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: 10.3×

Monthly cashflow live

• Estimated rent: $985 medium
• Mortgage (P&I): −$640
• Tax from tax record: −$25 /mo · $294/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$207
• Net cashflow: $63

Break-even live

Break-even rent $905

Max offer price $122,000

Occupancy floor 89%

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: $30,500
• Closing costs: $3,660
• 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	0.72mi
2864 Amberwood Pl Kokomo, IN	1.0–2.0	1.0	836	$1,069	$1.28	43d	4	1.29mi

Listing history 22 events

1. 2026-06-19
   days on market $122,000 Active 56 DOM
2. 2026-06-18
   days on market $122,000 Active 55 DOM
3. 2026-06-17
   days on market $122,000 Active 54 DOM
4. 2026-06-16
   days on market $122,000 Active 53 DOM
5. 2026-06-15
   days on market $122,000 Active 52 DOM
6. 2026-06-14
   days on market $122,000 Active 50 DOM
7. 2026-06-13
   pricedays on market $122,000 Active 49 DOM
8. 2026-06-10
   days on market $125,000 Active 47 DOM
9. 2026-06-09
   days on market $125,000 Active 46 DOM
10. 2026-06-08
    days on market $125,000 Active 45 DOM
11. 2026-06-07
    days on market $125,000 Active 44 DOM
12. 2026-06-02
    days on market $125,000 Active 39 DOM
13. 2026-06-01
    days on market $125,000 Active 38 DOM
14. 2026-05-31
    days on market $125,000 Active 37 DOM
15. 2026-05-30
    days on market $125,000 Active 36 DOM
16. 2026-04-24
    listed $125,000 Active
17. 2025-11-18
    price $125,000
18. 2025-10-22
    listed $129,000 Active
19. 2025-07-03
    soldstatus $38,000 Closed 635-char remark

    Show marketing remark (635 chars)

    Don't miss this great investment opportunity in Kokomo! This 2-bedroom, 1-bathroom home offers 912 square feet of potential, perfect for a fixer-upper project or a savvy addition to your rental portfolio. The property includes a partial unfinished basement, providing extra storage or renovation possibilities. Outside you will find a nice size deck to relax on. Key updates include a new roof and gas water heater, both replaced in 2015. With solid bones and a convenient location, this home is ready for your vision and improvements. Whether you're an investor or DIY enthusiast, this is a chance to build value and make it your own!

20. 2025-06-06
    status Pending 635-char remark

    Show marketing remark (635 chars)

    Don't miss this great investment opportunity in Kokomo! This 2-bedroom, 1-bathroom home offers 912 square feet of potential, perfect for a fixer-upper project or a savvy addition to your rental portfolio. The property includes a partial unfinished basement, providing extra storage or renovation possibilities. Outside you will find a nice size deck to relax on. Key updates include a new roof and gas water heater, both replaced in 2015. With solid bones and a convenient location, this home is ready for your vision and improvements. Whether you're an investor or DIY enthusiast, this is a chance to build value and make it your own!

21. 2025-05-30
    listed $65,000 Active 635-char remark

    Show marketing remark (635 chars)

    Don't miss this great investment opportunity in Kokomo! This 2-bedroom, 1-bathroom home offers 912 square feet of potential, perfect for a fixer-upper project or a savvy addition to your rental portfolio. The property includes a partial unfinished basement, providing extra storage or renovation possibilities. Outside you will find a nice size deck to relax on. Key updates include a new roof and gas water heater, both replaced in 2015. With solid bones and a convenient location, this home is ready for your vision and improvements. Whether you're an investor or DIY enthusiast, this is a chance to build value and make it your own!

22. 2014-12-23
    soldstatus $14,900

ⓘ 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: $294 · $25/mo
• Projected year-2 tax: $666 · $55/mo
• Expected delta: +$371/yr (+$31/mo · 126.1%)

ⓘ 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: $11,819
• − Mortgage interest: −$6,834
• − Property taxes: −$294
• − Insurance: −$610
• − Repairs & maintenance: −$946
• − Management: −$946
• − Depreciation: −$3,549
• Taxable loss: −$1,359
• Est. tax savings @ 24.0%: +$326
• After-tax cash flow: $1,082/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

+738.9% since first listed

7 events — show timeline

• 2026-04-24 Listed $125,000 IRMLS
• 2025-11-18 Price Changed $125,000 IRMLS
• 2025-10-22 Listed $129,000 IRMLS
• 2025-07-03 Sold (MLS) $38,000 IRMLS
• 2025-06-06 Pending — IRMLS
• 2025-05-30 Listed $65,000 IRMLS
• 2014-12-23 Sold (Public Records) $14,900 Public Records

Property tax history

-5.2%/yr

Latest (2024): $294 · +2.0% YoY. Source: county tax records.