824 W Elm St · Kokomo, IN 46901

$102,950

3 bd · 1.0 ba · 1,370 sqft · SingleFamily public records · 81 Days on market

Built 1954 4,922 sqft lot Est $159k · 35% under ↓ 4% since listing

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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 +24.2/30.0
• ARV discount +15.0/15.0
• DSCR +7.8/10.0
• 1% rule +6.3/10.0
• 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

This full brick, 3-bedroom, 1 bath home has been recently updated & is move in ready! Nearly 1400 sq ft of living space on a single story, a large corner lot & an oversized attached carport! New gutters/downspouts have just been added. Come check out this affordable home before it's too late!!

Key facts

• Full brick
• Recently updated
• Large corner lot

Tags

• FULL BRICK
• RECENTLY UPDATED
• MOVE IN READY
• LARGE CORNER LOT
• OVERSIZED ATTACHED CARPORT
• NEW GUTTERS DOWNSPOUTS

Property features AI

Exterior

• Parking: Carport
• Utilities: Public water; Municipal sewer connected; Solid waste service available
• Home design: Single family residence; One story
• Construction: Brick construction; Block foundation
• Exterior features: Lot approximately 0.11 acre; Less than 1/4 acre

Interior

• Kitchen: No appliances included
• Bedrooms: 3 bedrooms on the main level
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Attic access; Updated/remodeled interior
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $103k.

Deal economics

• At list price, monthly cash flow is $204 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $103k).
• Recommended offer: $97k (6.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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; 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 $712 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 81 days — a 6% lower offer ($97k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $7k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1954 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $96,773 (6.0% below list)

Questions for the listing agent

1. It's been on market 81 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1954 — 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. 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: 1.13% ✓
• Cap rate: 8.68%
• Cash-on-cash: 8.51%
• DSCR: 1.38
• GRM: 7.4

CMA / ARV

• ARV (on-the-fly): $158,920
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
810 N Wabash Ave	0.18mi	3/1.0	1,364 (-0%)	4mo	$131,900	$97	87
1021 Columbus Blvd	0.39mi	3/1.0	1,304 (-5%)	2mo	$151,253	$116	72
715 N Morrison St	0.26mi	2/1.0 (-1)	1,272 (-7%)	3mo	$20,000	$16	68
1416 W Tate St	0.51mi	4/2.0 (+1)	1,425 (+4%)	2mo	$155,000	$109	59
1905 N Buckeye St	0.69mi	3/1.0	1,260 (-8%)	1mo	$90,000	$71	54
1210 N Webster St	0.27mi	4/1.0 (+1)	1,565 (+14%)	6mo	$61,500	$39	53
1119 W Jackson St	0.42mi	3/2.0	1,179 (-14%)	2mo	$151,000	$128	51
1790 Carol Lynn Dr	0.72mi	3/2.0	1,480 (+8%)	1mo	$252,500	$171	49
1210 W Taylor St	0.48mi	2/1.0 (-1)	1,184 (-14%)	3mo	$61,000	$52	47
1312 Tedlee Dr	0.60mi	3/2.0	1,200 (-12%)	2mo	$197,500	$165	46
1810 Columbus Blvd	0.68mi	3/1.5	1,568 (+14%)	2mo	$200,000	$128	40
812 N Berkley Rd	0.73mi	3/2.0	1,188 (-13%)	4mo	$160,500	$135	36

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: -6.8%
• Equity multiple: 0.76×
• Total profit: $-7,041
• Equity at exit: $15,350

10-year hold

• IRR: -1.4%
• Equity multiple: 0.92×
• Total profit: $-2,428
• Equity at exit: $8,901

Cash invested: $28,826 (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: 7.4×

Monthly cashflow live

• Estimated rent: $1,160 medium
• Mortgage (P&I): −$540
• Tax from tax record: −$129 /mo · $1,552/yr
• Insurance: −$43
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $204

Break-even live

Break-even rent $901

Max offer price $102,950

Occupancy floor 77%

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: $25,738
• Closing costs: $3,088
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
800 N Dixon Rd Kokomo, IN	2.0	1.0	885	$1,100	$1.24	23d	7	1.26mi
800 N Dixon Rd Kokomo, IN	2.0	1.0	885	$1,050	$1.19	2d	4	1.26mi

Listing history 19 events

1. 2026-06-19
   days on market $102,950 Active 81 DOM
2. 2026-06-18
   days on market $102,950 Active 80 DOM
3. 2026-06-17
   days on market $102,950 Active 79 DOM
4. 2026-06-16
   days on market $102,950 Active 78 DOM
5. 2026-06-15
   days on market $102,950 Active 77 DOM
6. 2026-06-13
   days on market $102,950 Active 75 DOM
7. 2026-06-10
   days on market $102,950 Active 73 DOM
8. 2026-06-09
   days on market $102,950 Active 72 DOM
9. 2026-06-08
   days on market $102,950 Active 71 DOM
10. 2026-06-07
    days on market $102,950 Active 70 DOM
11. 2026-06-03
    price $102,950 Active 65 DOM
12. 2026-06-02
    days on market $105,555 Active 65 DOM
13. 2026-06-01
    days on market $105,555 Active 64 DOM
14. 2026-05-31
    days on market $105,555 Active 63 DOM
15. 2026-05-13
    status Active
16. 2026-05-01
    status Pending
17. 2026-04-17
    price $105,555
18. 2026-04-06
    price $106,900
19. 2026-03-16
    listed $109,900 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: $1,552 · $129/mo
• Projected year-2 tax: $1,552 · $129/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 6/10 Major FEMA zone X (unshaded) · 68% 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: $13,923
• − Mortgage interest: −$5,767
• − Property taxes: −$1,552
• − Insurance: −$515
• − Repairs & maintenance: −$1,114
• − Management: −$1,114
• − Depreciation: −$2,995
• Taxable income: $867
• Est. tax owed @ 24.0%: −$208
• After-tax cash flow: $2,246/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

-4.0% since first listed

5 events — show timeline

• 2026-05-13 Relisted — MIBOR as Distributed by MLS Grid
• 2026-05-01 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-17 Price Changed $105,555 MIBOR as Distributed by MLS Grid
• 2026-04-06 Price Changed $106,900 MIBOR as Distributed by MLS Grid
• 2026-03-16 Listed $109,900 MIBOR as Distributed by MLS Grid

Property tax history

+3.4%/yr

Latest (2024): $1,552 · +10.9% YoY. Source: county tax records.