1009 N Korby St · Kokomo, IN 46901

$95,000

3 bd · 1.0 ba · 896 sqft · SingleFamily public records · 47 Days on market

Built 1950 5,271 sqft lot Est $96k · 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 +27.6/30.0
• DSCR +9.7/10.0
• ARV discount +7.9/15.0
• 1% rule +6.5/10.0
• 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

Your new home just hit the market! Located not far from Lafayette Park elementary, this cozy 3 bed/1 bath home offers a fenced-in backyard, detached garage, and so much more!

Key facts

• 5,271 sq ft lot
• Garage
• Built 1950

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; One story
• Construction: Built with other construction materials; Slab foundation
• Exterior features: Lot dimensions approximately 60 x 88

Interior

• Bedrooms: Total of 5 rooms (bedroom count not specified)
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Living room fireplace with gas log
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $284 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Recommended offer: $92k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.9% vs local median 5.1% 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; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 26d on market — plan ~3-4 weeks tenant-placement turnaround); 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 $657 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

• It's been on market 47 days — a 3% lower offer ($92k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 8y ago; this cycle's ask has dropped $15k (14%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $92,150 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1950 — 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. 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.
7. 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.
8. 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: 1.15% ✓
• Cap rate: 9.88%
• Cash-on-cash: 12.80%
• DSCR: 1.57
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $95,872
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1717 W Judson Rd	0.52mi	3/1.0	884 (-1%)	0mo	$69,000	$78	73
1928 W Madison St	0.39mi	3/1.0	936 (+4%)	4mo	$140,000	$150	71
1022 N Burke St	0.15mi	3/1.0	1,008 (+12%)	4mo	$154,900	$154	69
1407 W Havens St	0.12mi	2/1.0 (-1)	792 (-12%)	2mo	$124,900	$158	68
611 N Indiana Ave	0.55mi	2/1.0 (-1)	888 (-1%)	1mo	$64,900	$73	67
1120 W Madison St	0.29mi	2/1.0 (-1)	988 (+10%)	2mo	$10,000	$10	62
1400 W Jackson St	0.33mi	3/1.0	768 (-14%)	0mo	$108,000	$141	61
1229 N Courtland Ave	0.64mi	2/1.0 (-1)	872 (-3%)	0mo	$84,900	$97	60
1000 W Havens St	0.35mi	3/1.0	1,008 (+12%)	5mo	$135,000	$134	58
1504 W Tate St	0.38mi	3/1.0	1,025 (+14%)	3mo	$110,000	$107	56
1421 W Tate St	0.36mi	3/1.0	1,025 (+14%)	5mo	$109,000	$106	55
621 W Elm St	0.57mi	3/1.0	984 (+10%)	6mo	$70,000	$71	52

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: -0.6%
• Equity multiple: 0.98×
• Total profit: $-557
• Equity at exit: $14,165

10-year hold

• IRR: 5.9%
• Equity multiple: 1.39×
• Total profit: $10,289
• Equity at exit: $8,214

Cash invested: $26,600 (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: 7.3×

Monthly cashflow live

• Estimated rent: $1,092 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$41 /mo · $493/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $284

Break-even live

Break-even rent $733

Max offer price $95,000

Occupancy floor 69%

Sensitivity live

Price	-10% $337	-5% $311	+0% $284	+5% $257	+10% $230
Rent	-10% $197	-5% $241	+0% $284	+5% $327	+10% $370
Rate	-1.0pp $332	-0.5pp $308	base $284	+0.5pp $259	+1.0pp $234

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2241 W Jefferson St Kokomo, IN	2.0	1.0	605	$895	$1.48	25d	4	0.77mi
800 N Dixon Rd Kokomo, IN	2.0	1.0	885	$1,100	$1.24	25d	7	0.84mi
800 N Dixon Rd Kokomo, IN	2.0	1.0	885	$1,050	$1.19	0d	2	0.84mi

Listing history 36 events

1. 2026-06-21
   days on market $95,000 Active 47 DOM
2. 2026-06-19
   days on market $95,000 Active 45 DOM
3. 2026-06-18
   days on market $95,000 Active 44 DOM
4. 2026-06-17
   days on market $95,000 Active 43 DOM
5. 2026-06-16
   days on market $95,000 Active 42 DOM
6. 2026-06-15
   days on market $95,000 Active 41 DOM
7. 2026-06-14
   days on market $95,000 Active 39 DOM
8. 2026-06-13
   days on market $95,000 Active 38 DOM
9. 2026-06-10
   pricedays on market $95,000 Active 36 DOM
10. 2026-06-09
    days on market $99,900 Active 35 DOM
11. 2026-06-08
    days on market $99,900 Active 34 DOM
12. 2026-06-07
    days on market $99,900 Active 33 DOM
13. 2026-06-02
    days on market $99,900 Active 28 DOM
14. 2026-06-01
    days on market $99,900 Active 27 DOM
15. 2026-05-31
    days on market $99,900 Active 26 DOM
16. 2026-05-30
    days on market $99,900 Active 25 DOM
17. 2026-05-15
    price $99,900
18. 2026-05-09
    price $105,000
19. 2026-05-05
    listed $110,000 Active
20. 2026-01-26
    listed $110,000 Active
21. 2024-05-17
    soldstatus $99,900 Closed 175-char remark

    Show marketing remark (175 chars)

    Your new home just hit the market! Located not far from Lafayette Park elementary, this cozy 3 bed/1 bath home offers a fenced-in backyard, detached garage, and so much more!

22. 2024-04-09
    historical Active Under Contract 175-char remark

    Show marketing remark (175 chars)

    Your new home just hit the market! Located not far from Lafayette Park elementary, this cozy 3 bed/1 bath home offers a fenced-in backyard, detached garage, and so much more!

23. 2024-04-09
    status Pending 175-char remark

    Show marketing remark (175 chars)

    Your new home just hit the market! Located not far from Lafayette Park elementary, this cozy 3 bed/1 bath home offers a fenced-in backyard, detached garage, and so much more!

24. 2024-03-31
    listed $99,900 Active 175-char remark

    Show marketing remark (175 chars)

    Your new home just hit the market! Located not far from Lafayette Park elementary, this cozy 3 bed/1 bath home offers a fenced-in backyard, detached garage, and so much more!

25. 2023-04-21
    soldstatus $92,500 Closed
26. 2023-04-20
    status Pending
27. 2023-03-27
    historical Active Under Contract
28. 2023-03-24
    price $89,900
29. 2023-03-16
    status Active
30. 2023-03-14
    historical Active Under Contract
31. 2023-02-10
    status Pending
32. 2023-02-01
    price $92,500
33. 2023-01-28
    listed $99,900 Active
34. 2018-09-25
    soldstatus $67,400
35. 2018-09-25
    listed $67,900
36. 2018-09-11
    soldstatus $67,400

ⓘ 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: $493 · $41/mo
• Projected year-2 tax: $650 · $54/mo
• Expected delta: +$157/yr (+$13/mo · 31.9%)

ⓘ 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 0% 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: $13,102
• − Mortgage interest: −$5,321
• − Property taxes: −$493
• − Insurance: −$475
• − Repairs & maintenance: −$1,048
• − Management: −$1,048
• − Depreciation: −$2,764
• Taxable income: $1,953
• Est. tax owed @ 24.0%: −$469
• After-tax cash flow: $2,936/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

+48.2% since first listed

20 events — show timeline

• 2026-05-15 Price Changed $99,900 IRMLS
• 2026-05-09 Price Changed $105,000 IRMLS
• 2026-05-05 Listed $110,000 IRMLS
• 2026-01-26 Listed $110,000 IRMLS
• 2024-05-17 Sold (MLS) $99,900 IRMLS
• 2024-04-09 Contingent — IRMLS
• 2024-04-09 Pending — IRMLS
• 2024-03-31 Listed $99,900 IRMLS
• 2023-04-21 Sold (MLS) $92,500 IRMLS
• 2023-04-20 Pending — IRMLS
• 2023-03-27 Contingent — IRMLS
• 2023-03-24 Price Changed $89,900 IRMLS
• 2023-03-16 Relisted — IRMLS
• 2023-03-14 Contingent — IRMLS
• 2023-02-10 Pending — IRMLS
• 2023-02-01 Price Changed $92,500 IRMLS
• 2023-01-28 Listed $99,900 IRMLS
• 2018-09-25 Listed $67,900 IRMLS
• 2018-09-25 Sold (MLS) $67,400 IRMLS
• 2018-09-11 Sold (Public Records) $67,400 Public Records

Property tax history

-6.7%/yr

Latest (2024): $493 · +5.7% YoY. Source: county tax records.