1035 S Courtland Ave · Kokomo, IN 46902

$124,900

2 bd · 1.5 ba · 1,176 sqft · SingleFamily public records · 37 Days on market

Built 1901 6,316 sqft lot Est $125k · at est.

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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 +15.0/30.0
• ARV discount +7.4/15.0
• DSCR +4.6/10.0
• 1% rule +3.8/10.0
• Livability +3.4/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

2 bedroom, 2 bath, newer windows, new cabinets, some bath fixtures, nice archways, new plumbing and electrical, master bathroom. Ready for your personal touches. Would make a great starter home or investment property.

Key facts

• 6,316 sq ft lot
• Built 1901
• Listed 36 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; One story
• Construction: Vinyl siding; Partial basement / crawl space
• Exterior features: Irregular lot; 48 x 132 lot dimensions; Shed(s) on property

Interior

• Kitchen: Electric range
• Bedrooms: Total of 5 rooms (bedroom count not specified)
• Bathrooms: 2 full bathrooms (both on main level)
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Electric range; Water heater; Central air; Forced air heating; Has basement (partial, crawl space)
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $39 ($471/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 $110k (11.5% below list).
• Recommended offer: $110k (11.5% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 5.2% in Kokomo — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Elwood Haynes Elementary School (math 22% / reading 17%, grade F, #814 of 994 statewide, top 83%, 611 students, 88% FRL); Maple Crest Middle School (math 10% / reading 16%, grade F, #304 of 330 statewide, top 94%, 372 students, 77% FRL); Kokomo High School (math 19% / reading 48%, grade F, #289 of 369 statewide, top 78%, 1,519 students, 58% FRL).
• Market conditions: Rents rising (+1.8%/yr); 232 active listings in the ZIP; 1 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 $864 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 37 days — a 3% lower offer ($121k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 14y 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.
• Current owner paid $13k; list at $125k implies a 880% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1901 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: moderate flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $110,478 (11.5% below list)

Questions for the listing agent

1. It's been on market 37 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1901 — 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: 0.88% ✗
• Cap rate: 6.67%
• Cash-on-cash: 1.35%
• DSCR: 1.06
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $124,656
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1104 S Courtland Ave	0.07mi	3/2.0 (+1)	1,234 (+5%)	0mo	$150,000	$122	81
1229 S Armstrong St	0.24mi	2/2.0	1,080 (-8%)	1mo	$126,000	$117	72
311 W Woodland Ave	0.38mi	2/1.0	1,088 (-8%)	2mo	$112,400	$103	66
803 S Webster St	0.25mi	3/2.0 (+1)	1,296 (+10%)	1mo	$57,000	$44	63
1704 S Buckeye St	0.66mi	3/1.0 (+1)	1,200 (+2%)	2mo	$140,000	$117	57
1336 S Washington St	0.38mi	2/1.0	1,026 (-13%)	4mo	$120,000	$117	55
904 S Bell St	0.68mi	3/1.0 (+1)	1,136 (-3%)	2mo	$120,000	$106	54
633 S Apperson Way	0.67mi	3/1.5 (+1)	1,246 (+6%)	1mo	$49,000	$39	53
511 E Harrison St	0.65mi	2/1.0	1,284 (+9%)	3mo	$78,500	$61	50
703 S Apperson Way	0.65mi	2/2.0	1,328 (+13%)	1mo	$115,000	$87	45
634 S Union St	0.56mi	3/1.5 (+1)	1,350 (+15%)	2mo	$75,000	$56	43
724 S Apperson Way	0.66mi	3/2.0 (+1)	1,300 (+10%)	4mo	$179,900	$138	42

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 · 1.8% rent growth · sell at horizon

5-year hold

• IRR: -15.5%
• Equity multiple: 0.46×
• Total profit: $-19,059
• Equity at exit: $18,623

10-year hold

• IRR: -9.1%
• Equity multiple: 0.47×
• Total profit: $-18,664
• Equity at exit: $10,799

Cash invested: $34,972 (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 46902

• Home prices YoY: -20.7%
• Rents YoY: 1.8%
• Active inventory: 232
• Price-to-rent: 9.4×

Monthly cashflow live

• Estimated rent: $1,105 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$126 /mo · $1,518/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $39

Break-even live

Break-even rent $1,055

Max offer price $124,900

Occupancy floor 91%

Sensitivity live

Price	-10% $110	-5% $75	+0% $39	+5% $4	+10% $-31
Rent	-10% $-48	-5% $-4	+0% $39	+5% $83	+10% $127
Rate	-1.0pp $102	-0.5pp $71	base $39	+0.5pp $7	+1.0pp $-26

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1901 S Park Rd Kokomo, IN	2.0	1.0	750	$1,025	$1.37	8d	3	0.92mi

Listing history 21 events

1. 2026-06-19
   days on market $124,900 Active 37 DOM
2. 2026-06-18
   days on market $124,900 Active 36 DOM
3. 2026-06-17
   days on market $124,900 Active 35 DOM
4. 2026-06-16
   days on market $124,900 Active 34 DOM
5. 2026-06-15
   days on market $124,900 Active 33 DOM
6. 2026-06-14
   days on market $124,900 Active 31 DOM
7. 2026-06-13
   statusdays on market $124,900 Active 30 DOM
8. 2026-06-10
   days on market $124,900 Active Under Contract 28 DOM
9. 2026-06-09
   days on market $124,900 Active Under Contract 27 DOM
10. 2026-06-08
    days on market $124,900 Active Under Contract 26 DOM
11. 2026-06-07
    days on market $124,900 Active Under Contract 25 DOM
12. 2026-06-02
    days on market $124,900 Active Under Contract 20 DOM
13. 2026-06-01
    days on market $124,900 Active Under Contract 19 DOM
14. 2026-05-31
    days on market $124,900 Active Under Contract 18 DOM
15. 2026-05-30
    days on market $124,900 Active Under Contract 17 DOM
16. 2026-05-18
    historical Active Under Contract
17. 2026-05-13
    listed $124,900 Active
18. 2023-06-19
    historical Active Under Contract
19. 2023-06-12
    listed $99,900 Active
20. 2012-06-27
    soldstatus $12,750 217-char remark

    Show marketing remark (217 chars)

    2 bedroom, 2 bath, newer windows, new cabinets, some bath fixtures, nice archways, new plumbing and electrical, master bathroom. Ready for your personal touches. Would make a great starter home or investment property.

21. 2012-05-03
    listed $13,600 217-char remark

    Show marketing remark (217 chars)

    2 bedroom, 2 bath, newer windows, new cabinets, some bath fixtures, nice archways, new plumbing and electrical, master bathroom. Ready for your personal touches. Would make a great starter home or investment property.

ⓘ 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: $1,518 · $126/mo
• Projected year-2 tax: $1,518 · $126/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 5/10 Major FEMA zone X (unshaded) · 27% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°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: $13,257
• − Mortgage interest: −$6,996
• − Property taxes: −$1,518
• − Insurance: −$624
• − Repairs & maintenance: −$1,061
• − Management: −$1,061
• − Depreciation: −$3,633
• Taxable loss: −$1,636
• Est. tax savings @ 24.0%: +$393
• After-tax cash flow: $864/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): 37,017
• Household income: $62,126
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 1262.0

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 (81%)
• Race & ethnicity: White 81% Black 9% Two or more races 5% Hispanic / Latino 4% Asian 3%
• Common ancestry: Italian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 3% · Canada, Vietnam, China
• Languages at home: 96% English-only · Vietnamese 1% Other Asian/Pacific 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: ▼ -61.76%
• Current HPI: 236.8237
• Rent YoY: ▲ 1.80%
• 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

+818.4% since first listed

6 events — show timeline

• 2026-05-18 Contingent — IRMLS
• 2026-05-13 Listed $124,900 IRMLS
• 2023-06-19 Contingent — IRMLS
• 2023-06-12 Listed $99,900 IRMLS
• 2012-06-27 Sold (MLS) $12,750 MIBOR as Distributed by MLS Grid
• 2012-05-03 Listed $13,600 MIBOR as Distributed by MLS Grid

Property tax history

+4.8%/yr

Latest (2024): $1,518 · +8.1% YoY. Source: county tax records.