1320 N Courtland Ave · Kokomo, IN 46901

$54,900

3 bd · 1.0 ba · 1,208 sqft · SingleFamily public records · 37 Days on market

Built 1910 4,095 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

2 bedroom, 1 bathroom house with 2 car attached garage. Free standing gas stove for heat.

Key facts

• 4,095 sq ft lot
• 2 garage spots
• Built 1910

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family site-built home; One story
• Construction: Vinyl siding
• Exterior features: Level lot; Lot dimensions approximately 33 x 124

Interior

• Kitchen: Refrigerator; Electric range
• Bathrooms: One full bathroom on the main level
• Heating & cooling: Natural gas heating; Space heater; Window cooling units
• Interior features: Refrigerator; Electric range; One fireplace
• 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 $55k.

Deal economics

• At list price, monthly cash flow is $456 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $55k).
• Recommended offer: $53k (3.0% below list) — sets the bar for market timing.
• Cap rate 16.3% 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: Pettit Park School (math 22% / reading 22%, grade F, #790 of 994 statewide, top 81%, 241 students, 86% 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 67% FRL track the district average.
• Market conditions: Rents soft (-1.5%/yr); 246 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals at typical pace (median 25d on market — plan ~3-4 weeks tenant-placement turnaround); 40% 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 $380 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $15k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 37 days — a 3% lower offer ($53k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $30k; list at $55k implies a 83% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $53,253 (3.0% 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 3% concession, seller financing, or rate buy-down credit?
2. Built in 1910 — 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. 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.
7. 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.
8. 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: 1.98% ✓
• Cap rate: 16.25%
• Cash-on-cash: 35.56%
• DSCR: 2.58
• GRM: 4.2

CMA / ARV

• ARV (on-the-fly): $140,128
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1515 N Indiana Ave	0.19mi	3/1.0	1,124 (-7%)	5mo	$95,000	$85	76
1905 N Buckeye St	0.39mi	3/1.0	1,260 (+4%)	1mo	$90,000	$71	74
821 N Armstrong St	0.38mi	3/1.0	1,155 (-4%)	6mo	$133,500	$116	70
715 N Morrison St	0.46mi	2/1.0 (-1)	1,272 (+5%)	3mo	$20,000	$16	62
1214 N Burke St	0.49mi	3/1.0	1,100 (-9%)	2mo	$145,000	$132	61
1312 Tedlee Dr	0.72mi	3/2.0	1,200 (-1%)	2mo	$197,500	$165	60
1119 W Jackson St	0.71mi	3/2.0	1,179 (-2%)	2mo	$151,000	$128	57
1021 Columbus Blvd	0.63mi	3/1.0	1,304 (+8%)	2mo	$151,253	$116	56
1012 Columbus Blvd	0.59mi	3/1.0	1,128 (-7%)	7mo	$126,000	$112	56
810 N Wabash Ave	0.44mi	3/1.0	1,364 (+13%)	4mo	$131,900	$97	54
1105 W Jefferson St	0.65mi	3/2.0	1,101 (-9%)	1mo	$130,000	$118	50
1616 Columbus Blvd	0.66mi	3/1.0	1,044 (-14%)	3mo	$105,000	$101	44

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: 27.7%
• Equity multiple: 2.10×
• Total profit: $16,961
• Equity at exit: $8,186

10-year hold

• IRR: 33.3%
• Equity multiple: 3.60×
• Total profit: $39,932
• Equity at exit: $4,747

Cash invested: $15,372 (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: 4.2×

Monthly cashflow live

• Estimated rent: $1,089 high
• Mortgage (P&I): −$288
• Tax from tax record: −$94 /mo · $1,124/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$229
• Net cashflow: $456

Break-even live

Break-even rent $512

Max offer price $54,900

Occupancy floor 53%

Sensitivity live

Price	-10% $487	-5% $471	+0% $456	+5% $440	+10% $424
Rent	-10% $370	-5% $413	+0% $456	+5% $499	+10% $542
Rate	-1.0pp $483	-0.5pp $470	base $456	+0.5pp $441	+1.0pp $427

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: $13,725
• Closing costs: $1,647
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1020 E Fischer St Kokomo, IN	2.0	1.0	720	$950	$1.32	45d	1	1.26mi
2864 Amberwood Pl Kokomo, IN	1.0–2.0	1.0	836	$1,069	$1.28	45d	4	1.32mi
2241 W Jefferson St Kokomo, IN	2.0	1.0	605	$895	$1.48	25d	4	1.45mi
800 N Dixon Rd Kokomo, IN	2.0	1.0	885	$1,100	$1.24	25d	7	1.50mi
800 N Dixon Rd Kokomo, IN	2.0	1.0	885	$1,050	$1.19	3d	4	1.50mi

Listing history 18 events

1. 2026-06-21
   days on market $54,900 Active 37 DOM
2. 2026-06-19
   days on market $54,900 Active 35 DOM
3. 2026-06-18
   days on market $54,900 Active 34 DOM
4. 2026-06-17
   days on market $54,900 Active 33 DOM
5. 2026-06-16
   days on market $54,900 Active 32 DOM
6. 2026-06-15
   days on market $54,900 Active 31 DOM
7. 2026-06-14
   days on market $54,900 Active 29 DOM
8. 2026-06-13
   days on market $54,900 Active 28 DOM
9. 2026-06-10
   days on market $54,900 Active 26 DOM
10. 2026-06-09
    days on market $54,900 Active 25 DOM
11. 2026-06-08
    days on market $54,900 Active 24 DOM
12. 2026-06-07
    days on market $54,900 Active 23 DOM
13. 2026-06-02
    days on market $54,900 Active 18 DOM
14. 2026-06-01
    days on market $54,900 Active 17 DOM
15. 2026-05-31
    days on market $54,900 Active 16 DOM
16. 2026-05-30
    days on market $54,900 Active 15 DOM
17. 2026-05-14
    listed $54,900 Active
18. 2000-09-12
    soldstatus $30,000

ⓘ 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: $1,124 · $94/mo
• Projected year-2 tax: $1,124 · $94/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: $13,064
• − Mortgage interest: −$3,075
• − Property taxes: −$1,124
• − Insurance: −$274
• − Repairs & maintenance: −$1,045
• − Management: −$1,045
• − Depreciation: −$1,597
• Taxable income: $4,903
• Est. tax owed @ 24.0%: −$1,177
• After-tax cash flow: $4,290/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

+83.0% since first listed

2 events — show timeline

• 2026-05-14 Listed $54,900 IRMLS
• 2000-09-12 Sold (Public Records) $30,000 Public Records

Property tax history

+4.5%/yr

Latest (2024): $1,124 · +11.1% YoY. Source: county tax records.