1206 N Union St · Kokomo, IN 46901

$34,900

4 bd · 2.0 ba · 1,520 sqft · SingleFamily public records · 125 Days on market

Built 1890 3,964 sqft lot ↓ 22% since listing

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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 +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• 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

Welcome to 1206 N Union St, a prime opportunity for a value-add investment! 2 stories with 4 bedrooms & 2 baths, comfortable living areas, & a large backyard to create your own entertainment oasis! Renovate this home to its modern potential, live in, rent out or flip for high profit potential!!!

Key facts

• Large backyard
• 2 stories
• 3,964 sq ft lot

Tags

• LARGE BACKYARD
• COMFORTABLE LIVING AREAS
• 2 STORIES

Property features AI

Exterior

• Utilities: Public water; Municipal sewer connected; Solid waste service available
• Home design: Single-family residence; Fixer condition; Two-level home
• Construction: Block foundation; Other construction materials
• Exterior features: Less than 1/4 acre lot (approximately 0.09 acres)

Interior

• Kitchen: Eat-in kitchen; No appliances included
• Bedrooms: Four bedrooms total (2 on the main level, 2 on the upper level); Primary bedroom: see remarks
• Bathrooms: Two full bathrooms (one on main level, one on upper level); Primary bathroom has a tub with shower
• Heating & cooling: Forced air heating; Cooling: Other
• Interior features: Eat-in kitchen; Total of 7 rooms
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath single-family listed at $35k.

Deal economics

• At list price, monthly cash flow is $899 ($11k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $35k).
• Recommended offer: $31k (12.0% below list) — sets the bar for market timing.
• Cap rate 37.2% 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, schools F, amenities 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.
• 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).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $241 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 $10k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 125 days — a 12% lower offer ($31k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts; this cycle's ask has dropped $10k (22%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $30,712 (12.0% below list)

Questions for the listing agent

1. It's been on market 125 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 1890 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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?
7. 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?
8. 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.
9. 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.
10. 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: 4.22% ✓
• Cap rate: 37.21%
• Cash-on-cash: 110.42%
• DSCR: 5.91
• GRM: 2.0

CMA / ARV

• ARV (on-the-fly): $83,600
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1405 N Purdum St	0.33mi	3/2.0 (-1)	1,440 (-5%)	0mo	$123,000	$85	71
1210 N Webster St	0.34mi	4/1.0	1,565 (+3%)	6mo	$61,500	$39	70
921 E Elm St	0.45mi	3/1.0 (-1)	1,536 (+1%)	3mo	$18,500	$12	65
1618 N Lafountain St	0.35mi	3/1.0 (-1)	1,568 (+3%)	8mo	$40,000	$26	63
915 E Morgan St	0.74mi	3/2.0 (-1)	1,520 (0%)	2mo	$164,900	$108	59
1810 N Market St	0.44mi	3/1.0 (-1)	1,400 (-8%)	0mo	$115,000	$82	57
1011 N Lafountain St	0.15mi	3/1.0 (-1)	1,336 (-12%)	9mo	$50,000	$37	57
131 W Lordeman St	0.36mi	3/2.0 (-1)	1,734 (+14%)	0mo	$95,000	$55	55
953 E Richmond St	0.54mi	3/1.0 (-1)	1,474 (-3%)	9mo	$15,000	$10	53
810 N Wabash Ave	0.63mi	3/1.0 (-1)	1,364 (-10%)	4mo	$131,900	$97	41
932 E Mulberry St	0.73mi	3/2.0 (-1)	1,728 (+14%)	1mo	$42,000	$24	38
1613 N Wabash Ave	0.69mi	3/2.0 (-1)	1,300 (-14%)	7mo	$182,900	$141	33

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: —
• Equity multiple: 5.84×
• Total profit: $47,334
• Equity at exit: $5,204

10-year hold

• IRR: —
• Equity multiple: 11.07×
• Total profit: $98,426
• Equity at exit: $3,018

Cash invested: $9,772 (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: 2.0×

Monthly cashflow live

• Estimated rent: $1,473 medium
• Mortgage (P&I): −$183
• Tax from tax record: −$67 /mo · $804/yr
• Insurance: −$15
• HOA: −$0
• Vacancy / Maint / Mgmt: −$309
• Net cashflow: $899

Break-even live

Break-even rent $335

Max offer price $34,900

Occupancy floor 34%

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: $8,725
• Closing costs: $1,047
• Reserves months: —
• Total cash needed: —

Listing history 13 events

1. 2026-06-07
   statusdays on market $34,900 Pending 125 DOM
2. 2026-06-02
   days on market $34,900 Active 124 DOM
3. 2026-05-31
   days on market $34,900 Active 123 DOM
4. 2026-05-30
   days on market $34,900 Active 122 DOM
5. 2026-05-16
   status Active
6. 2026-05-15
   historical
7. 2026-05-08
   price $34,900
8. 2026-04-06
   price $37,950
9. 2026-03-06
   price $39,950
10. 2026-02-19
    price $42,950
11. 2026-02-06
    status Active
12. 2025-12-29
    status Pending
13. 2025-12-19
    listed $44,900 Active

ⓘ 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: $804 · $67/mo
• Projected year-2 tax: $804 · $67/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 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: $17,677
• − Mortgage interest: −$1,955
• − Property taxes: −$804
• − Insurance: −$174
• − Repairs & maintenance: −$1,414
• − Management: −$1,414
• − Depreciation: −$1,015
• Taxable income: $10,900
• Est. tax owed @ 24.0%: −$2,616
• After-tax cash flow: $8,174/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

-22.3% since first listed

9 events — show timeline

• 2026-05-16 Relisted — MIBOR as Distributed by MLS Grid
• 2026-05-15 Listing Removed — MIBOR as Distributed by MLS Grid
• 2026-05-08 Price Changed $34,900 MIBOR as Distributed by MLS Grid
• 2026-04-06 Price Changed $37,950 MIBOR as Distributed by MLS Grid
• 2026-03-06 Price Changed $39,950 MIBOR as Distributed by MLS Grid
• 2026-02-19 Price Changed $42,950 MIBOR as Distributed by MLS Grid
• 2026-02-06 Relisted — MIBOR as Distributed by MLS Grid
• 2025-12-29 Pending — MIBOR as Distributed by MLS Grid
• 2025-12-19 Listed $44,900 MIBOR as Distributed by MLS Grid

Property tax history

+12.9%/yr

Latest (2024): $804 · +16.9% YoY. Source: county tax records.