1705 Kensington ON Berkley · Kokomo, IN 46901

$74,000

2 bd · 1.0 ba · 896 sqft · Condo public records · 3 Days on market

Built 1972 $160/mo HOA · 16% of rent

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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 +26.6/30.0
• DSCR +9.1/10.0
• 1% rule +8.7/10.0
• ARV discount +7.5/15.0
• 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

Completely Renovated Condo in Kensington on Berkley! Welcome to 1705 Kensington – a beautifully updated 2-bedroom condo that’s move-in ready! This unit features brand-new drywall, stylish cabinetry, modern fixtures, fresh paint, and gorgeous new flooring throughout. Every detail has been thoughtfully upgraded to offer a low-maintenance lifestyle in a great location. HOA dues are just $140/month and cover the roof, exterior maintenance, lawn care, snow removal, water, sewage, and trash. Perfect for stress-free living or a smart investment!

Key facts

• $160 HOA
• Built 1972
• Listed 3 days

Property features AI

Finance

• HOA & community: Homeowners association with $160 monthly fee

Exterior

• Parking: No designated parking
• Utilities: Public water; Public sewer
• Home design: Residential condominium (Condo/Villa); 2-story
• Construction: Brick and vinyl siding exterior; Shingle roof; Slab foundation; Built area above grade: 896
• Exterior features: Patio; Shed(s); Level lot

Interior

• Kitchen: Eat-in kitchen with stone counters
• Bedrooms: Total of 4 rooms (includes bedrooms and living spaces)
• Flooring: Vinyl flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Electric heat pump; Central air; Ceiling fan(s)
• Interior features: Ceiling fans; Eat-in kitchen; Stone countertops; One fireplace
• Laundry & utility: Washer hookup on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $74k.

Deal economics

• At list price, monthly cash flow is $199 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $74k).
• Cap rate 9.5% 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); 246 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals at typical pace (median 25d 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 $512 of loan paydown is wiped out by about $2k 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

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 6 sale attempts since 17y 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 $55k; 35% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $74,000

Questions for the listing agent

1. Built in 1972 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
3. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.37% ✓
• Cap rate: 9.51%
• Cash-on-cash: 11.50%
• DSCR: 1.51
• GRM: 6.1

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: -3.0%
• Equity multiple: 0.89×
• Total profit: $-2,244
• Equity at exit: $11,034

10-year hold

• IRR: 2.5%
• Equity multiple: 1.15×
• Total profit: $3,135
• Equity at exit: $6,398

Cash invested: $20,720 (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: 6.1×

Monthly cashflow live

• Estimated rent: $1,014 medium
• Mortgage (P&I): −$388
• Tax from tax record: −$24 /mo · $286/yr
• Insurance: −$31
• HOA: −$160
• Vacancy / Maint / Mgmt: −$213
• Net cashflow: $199

Break-even live

Break-even rent $763

Max offer price $74,000

Occupancy floor 75%

Sensitivity live

Price	-10% $240	-5% $220	+0% $199	+5% $178	+10% $157
Rent	-10% $118	-5% $159	+0% $199	+5% $239	+10% $279
Rate	-1.0pp $236	-0.5pp $217	base $199	+0.5pp $179	+1.0pp $160

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: $18,500
• Closing costs: $2,220
• Reserves months: —
• Total cash needed: —

Rent comps 3 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	25d	7	0.71mi
800 N Dixon Rd Kokomo, IN	2.0	1.0	885	$1,050	$1.19	0d	2	0.71mi
2241 W Jefferson St Kokomo, IN	2.0	1.0	605	$895	$1.48	25d	4	0.78mi

HOA detail condo

• Monthly dues: $160 · $1,920/yr
• Likely covers: watertrashlandscapingsnow removalexterior maint.
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 3 events

1. 2026-06-21
   days on market $74,000 Active 3 DOM
2. 2026-06-18
   remarks 462-char remark
3. 2026-06-18
   listed $74,000 Active 1 DOM

ⓘ 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: $286 · $24/mo
• Projected year-2 tax: $458 · $38/mo
• Expected delta: +$171/yr (+$14/mo · 59.9%)

ⓘ 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
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $12,172
• − Mortgage interest: −$4,145
• − Property taxes: −$286
• − Insurance: −$370
• − Repairs & maintenance: −$974
• − Management: −$974
• − HOA: −$1,920
• − Depreciation: −$2,153
• Taxable income: $1,351
• Est. tax owed @ 24.0%: −$324
• After-tax cash flow: $2,059/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

+118.3% since first listed

15 events — show timeline

• 2026-06-18 Listed $74,000 IRMLS
• 2026-02-26 Sold (MLS) $55,000 IRMLS
• 2026-02-12 Pending — IRMLS
• 2025-12-01 Price Changed $69,900 IRMLS
• 2025-10-15 Price Changed $74,900 IRMLS
• 2025-09-22 Price Changed $79,900 IRMLS
• 2025-08-26 Price Changed $84,900 IRMLS
• 2025-08-23 Relisted — IRMLS
• 2025-08-23 Delisted — IRMLS
• 2025-07-30 Relisted — IRMLS
• 2025-07-18 Listed $89,900 IRMLS
• 2018-03-13 Sold (MLS) $23,000 IRMLS
• 2017-11-29 Listed $29,900 IRMLS
• 2009-04-24 Listed $35,900 IRMLS
• 1998-06-17 Sold (Public Records) $33,900 Public Records

Property tax history

-6.8%/yr

Latest (2024): $286 · +6.3% YoY. Source: county tax records.