2015 N Lindsay St · Kokomo, IN 46901

$44,900

3 bd · 1.0 ba · 704 sqft · SingleFamily public records · 24 Days on market

Built 1952 5,706 sqft lot Est $82k · 45% under

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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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

1 Bedroom, 1 bathroom house with shed and off-street parking.

Key facts

• 5,706 sq ft lot
• Built 1952
• Listed 24 days

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Single-family residence; Site-built home; One story
• Construction: Vinyl siding; Built as site-built construction
• Exterior features: Level lot; Shed on the property

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: Total of 4 rooms (includes bedrooms and living spaces)
• Bathrooms: One full bathroom; Main-level bathroom
• Heating & cooling: Electric heating; Wall unit cooling
• Interior features: Refrigerator; Electric range
• Laundry & utility: Laundry on the main level; Crawl space basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $45k.

Deal economics

• At list price, monthly cash flow is $534 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $45k).
• Recommended offer: $44k (1.5% below list) — sets the bar for market timing.
• Cap rate 20.6% 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: 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); 242 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $310 of loan paydown is wiped out by about $1k 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 $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $19k; list at $45k implies a 140% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1952 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $44,226 (1.5% below list)

Questions for the listing agent

1. Built in 1952 — 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: 2.36% ✓
• Cap rate: 20.58%
• Cash-on-cash: 51.01%
• DSCR: 3.27
• GRM: 3.5

CMA / ARV

• ARV (on-the-fly): $81,664
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1226 N Burk St	0.48mi	2/1.0 (-1)	720 (+2%)	2mo	$97,900	$136	68
1032 Columbus Blvd	0.65mi	2/1.0 (-1)	720 (+2%)	9mo	$95,000	$132	54
1623 N Mccann St	0.26mi	2/1.0 (-1)	768 (+9%)	20mo	$86,500	$113	51
613 W Butler St	0.37mi	2/1.5 (-1)	760 (+8%)	14mo	$82,000	$108	51
1319 N Morrison St	0.53mi	3/1.0	672 (-4%)	21mo	$78,000	$116	50
1426 W North St	0.44mi	2/1.0 (-1)	644 (-8%)	12mo	$49,900	$77	50
1225 N Korby St	0.52mi	2/1.0 (-1)	720 (+2%)	20mo	$103,500	$144	50
1702 N Webster St	0.51mi	2/1.5 (-1)	800 (+14%)	7mo	$75,000	$94	41
2411 N Buckeye St	0.71mi	2/1.0 (-1)	768 (+9%)	9mo	$116,000	$151	39
1407 W Havens St	0.74mi	2/1.0 (-1)	792 (+12%)	2mo	$124,900	$158	38
2540 N Armstrong St	0.73mi	2/1.0 (-1)	633 (-10%)	8mo	$70,150	$111	38
2134 N Buckeye St	0.67mi	2/1.0 (-1)	804 (+14%)	8mo	$90,000	$112	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: 45.4%
• Equity multiple: 2.88×
• Total profit: $23,671
• Equity at exit: $6,695

10-year hold

• IRR: 50.0%
• Equity multiple: 5.18×
• Total profit: $52,498
• Equity at exit: $3,882

Cash invested: $12,572 (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: 3.5×

Monthly cashflow live

• Estimated rent: $1,058 medium
• Mortgage (P&I): −$235
• Tax from tax record: −$48 /mo · $570/yr
• Insurance: −$19
• HOA: −$0
• Vacancy / Maint / Mgmt: −$222
• Net cashflow: $534

Break-even live

Break-even rent $382

Max offer price $44,900

Occupancy floor 44%

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: $11,225
• Closing costs: $1,347
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2864 Amberwood Pl Kokomo, IN	1.0–2.0	1.0	836	$1,069	$1.28	44d	4	1.08mi
2241 W Jefferson St Kokomo, IN	2.0	1.0	605	$895	$1.48	24d	4	1.38mi
1020 E Fischer St Kokomo, IN	2.0	1.0	720	$950	$1.32	44d	1	1.43mi

Listing history 9 events

1. 2026-06-09
   status $44,900 Pending 24 DOM
2. 2026-06-08
   days on market $44,900 Active 24 DOM
3. 2026-06-07
   days on market $44,900 Active 23 DOM
4. 2026-06-02
   days on market $44,900 Active 18 DOM
5. 2026-06-01
   days on market $44,900 Active 17 DOM
6. 2026-05-31
   days on market $44,900 Active 16 DOM
7. 2026-05-30
   days on market $44,900 Active 15 DOM
8. 2026-05-14
   listed $44,900 Active
9. 1998-06-11
   soldstatus $18,700

ⓘ 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: $570 · $48/mo
• Projected year-2 tax: $570 · $48/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 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $12,700
• − Mortgage interest: −$2,515
• − Property taxes: −$570
• − Insurance: −$224
• − Repairs & maintenance: −$1,016
• − Management: −$1,016
• − Depreciation: −$1,306
• Taxable income: $6,052
• Est. tax owed @ 24.0%: −$1,453
• After-tax cash flow: $4,960/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

+140.1% since first listed

2 events — show timeline

• 2026-05-14 Listed $44,900 IRMLS
• 1998-06-11 Sold (Public Records) $18,700 Public Records

Property tax history

+2.7%/yr

Latest (2024): $570 · +10.9% YoY. Source: county tax records.