1039 S Purdum St · Kokomo, IN 46902

$129,000

2 bd · 1.0 ba · 1,058 sqft · SingleFamily public records · 1 Days on market

Built 1926 5,227 sqft lot Est $129k · at est.

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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 +16.7/30.0
• ARV discount +7.5/15.0
• DSCR +5.2/10.0
• 1% rule +3.4/10.0
• Livability +3.4/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

This charming residential home with 1 or 2 bedrooms features covered front & back porches with a concrete pathway leading to a one car detached garage with added work area. The eat-in kitchen has ceramic tile flooring with a closed laundry/utility closet. The master bedrooms includes double-sized closets, a wood burning fireplace and wooden French Doors. The living rm features updated flooring. Property includes partial privacy fence/chain link fencing. Amenities include: ceiling fan, main electric panel updated, linen cabinet and jetted garden tub/shower. New Central Air & updated bathroom in 2023.

Key facts

• Stand-up shower
• Large windows
• Walk-in closet

Tags

• EAT-IN KITCHEN
• WOOD CABINETRY
• WALK-IN CLOSET
• STAND-UP SHOWER
• LARGE WINDOWS
• DETACHED GARAGE

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); One story
• Construction: Vinyl siding; Shingle roof
• Exterior features: Partial fencing; Level lot

Interior

• Kitchen: Dishwasher; Gas water heater; Water heater
• Bedrooms: Bedrooms included in total room count (5 total rooms)
• Flooring: Laminate flooring
• Bathrooms: One full bathroom; Main-level bathroom
• Heating & cooling: Natural gas forced-air heating; Central air; Window air conditioning units
• Interior features: Eat-in kitchen; Bedroom fireplace
• Laundry & utility: Washer hookup on main level; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $129k.

Deal economics

• At list price, monthly cash flow is $81 ($976/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $108k (16.5% below list).
• Recommended offer: $108k (16.5% below list) — sets the bar for 1% rule.
• Cap rate 7.0% vs local median 5.1% 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: Elwood Haynes Elementary School (math 22% / reading 17%, grade F, #814 of 994 statewide, top 83%, 611 students, 88% FRL); Maple Crest Middle School (math 10% / reading 16%, grade F, #304 of 330 statewide, top 94%, 372 students, 77% FRL); Kokomo High School (math 19% / reading 48%, grade F, #289 of 369 statewide, top 78%, 1,519 students, 58% FRL).
• Market conditions: Rents rising (+1.8%/yr); 235 active listings in the ZIP; 1 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 $892 of loan paydown is wiped out by about $4k 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 1 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 sale attempts since 11y 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 $80k; list at $129k implies a 61% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1926 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $107,777 (16.5% below list)

Questions for the listing agent

1. Built in 1926 — 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. 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?
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: 0.84% ✗
• Cap rate: 7.05%
• Cash-on-cash: 2.70%
• DSCR: 1.12
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $129,076
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
818 East Buckley St	0.21mi	3/1.0 (+1)	1,042 (-2%)	2mo	$124,500	$119	81
909 S Bell St	0.15mi	2/1.0	944 (-11%)	1mo	$119,000	$126	74
904 S Bell St	0.15mi	3/1.0 (+1)	1,136 (+7%)	2mo	$120,000	$106	74
807 S Waugh St	0.29mi	3/1.0 (+1)	1,144 (+8%)	2mo	$110,000	$96	66
311 W Woodland Ave	0.60mi	2/1.0	1,088 (+3%)	2mo	$112,400	$103	66
1811 S Lafountain St	0.68mi	2/1.0	1,040 (-2%)	1mo	$155,000	$149	65
732 S Market St	0.31mi	2/1.0	932 (-12%)	2mo	$113,500	$122	65
1229 S Armstrong St	0.60mi	2/2.0	1,080 (+2%)	1mo	$126,000	$117	64
1136 S Delphos St	0.29mi	2/2.0	932 (-12%)	2mo	$115,000	$123	61
1133 S Buckeye St	0.43mi	2/1.5	960 (-9%)	2mo	$133,000	$139	61
1213 E State St	0.48mi	3/2.0 (+1)	960 (-9%)	2mo	$147,500	$154	51
1704 S Buckeye St	0.69mi	3/1.0 (+1)	1,200 (+13%)	2mo	$140,000	$117	38

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 · 1.8% rent growth · sell at horizon

5-year hold

• IRR: -13.3%
• Equity multiple: 0.53×
• Total profit: $-17,065
• Equity at exit: $19,234

10-year hold

• IRR: -6.1%
• Equity multiple: 0.62×
• Total profit: $-13,575
• Equity at exit: $11,154

Cash invested: $36,120 (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 46902

• Home prices YoY: -20.7%
• Rents YoY: 1.8%
• Active inventory: 235
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,078 medium
• Mortgage (P&I): −$676
• Tax from tax record: −$40 /mo · $478/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$226
• Net cashflow: $81

Break-even live

Break-even rent $975

Max offer price $129,000

Occupancy floor 87%

Sensitivity live

Price	-10% $154	-5% $118	+0% $81	+5% $45	+10% $8
Rent	-10% $-4	-5% $39	+0% $81	+5% $124	+10% $167
Rate	-1.0pp $146	-0.5pp $114	base $81	+0.5pp $48	+1.0pp $14

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: $32,250
• Closing costs: $3,870
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1901 S Park Rd Kokomo, IN	2.0	1.0	750	$1,025	$1.37	9d	3	1.41mi

Listing history 2 events

1. 2026-06-21
   remarks 699-char remark
2. 2026-06-21
   listed $129,000 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: $478 · $40/mo
• Projected year-2 tax: $787 · $66/mo
• Expected delta: +$309/yr (+$26/mo · 64.7%)

ⓘ 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 ≥102°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: $12,933
• − Mortgage interest: −$7,226
• − Property taxes: −$478
• − Insurance: −$645
• − Repairs & maintenance: −$1,035
• − Management: −$1,035
• − Depreciation: −$3,753
• Taxable loss: −$1,238
• Est. tax savings @ 24.0%: +$297
• After-tax cash flow: $1,273/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): 37,017
• Household income: $62,126
• Rent vs Own: 33.0% rent · 67.0% own
• Severe rent burden: 1262.0

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 (81%)
• Race & ethnicity: White 81% Black 9% Two or more races 5% Hispanic / Latino 4% Asian 3%
• Common ancestry: Italian 2% Lithuanian 1% Slovak 1%
• Foreign-born: 3% · Canada, Vietnam, China
• Languages at home: 96% English-only · Vietnamese 1% Other Asian/Pacific 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: ▼ -61.76%
• Current HPI: 236.8237
• Rent YoY: ▲ 1.80%
• 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

+222.5% since first listed

11 events — show timeline

• 2026-06-20 Listed $129,000 IRMLS
• 2024-02-23 Sold (MLS) $79,900 IRMLS
• 2024-01-30 Pending — IRMLS
• 2023-12-29 Listed $79,900 IRMLS
• 2023-08-25 Contingent — IRMLS
• 2023-08-23 Delisted — IRMLS
• 2023-08-21 Relisted — IRMLS
• 2023-05-25 Pending — IRMLS
• 2023-05-19 Listed $74,000 IRMLS
• 2015-08-17 Listed $52,400 IRMLS
• 2001-08-17 Sold (Public Records) $40,000 Public Records

Property tax history

-4.2%/yr

Latest (2024): $478 · -58.1% YoY. Source: county tax records.