2204 N Webster St · Kokomo, IN 46901

$91,000

3 bd · 1.0 ba · 896 sqft · SingleFamily public records · 14 Days on market

Built 1962 6,534 sqft lot Est $100k · 9% under

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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 +27.9/30.0
• ARV discount +11.7/15.0
• DSCR +9.8/10.0
• 1% rule +7.5/10.0
• 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 MLS

Whether you're looking to expand your investment portfolio or searching for a place to call home, this 3 bedroom, 1 bath property is full of potential. Currently tenant occupied, this home offers an excellent opportunity for investors seeking immediate rental income, while also providing a great option for future homeowners. Recent updates include newer flooring, kitchen cabinetry, light fixtures, and a furnace and central air system that are both less than two years old. A detached 2-car garage adds valuable storage.

Key facts

• Kitchen cabinetry
• Newer flooring
• Light fixtures

Tags

• NEWER FLOORING
• KITCHEN CABINETRY
• LIGHT FIXTURES
• FURNACE AND CENTRAL AIR
• DETACHED 2-CAR GARAGE

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); One story
• Construction: Aluminum siding
• Exterior features: Enclosed porch

Interior

• Kitchen: Refrigerator; Gas range
• Bedrooms: 5 total rooms
• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Natural gas heating with forced air; Central air conditioning; Has heating and cooling
• Interior features: Eat-in kitchen; Laminate countertops; Crawl space basement
• Laundry & utility: Washer hookup on main level; Gas water heater; Water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $91k.

Deal economics

• At list price, monthly cash flow is $279 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $91k).
• Cap rate 10.0% 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: Bon Air Elementary School (math 22% / reading 12%, grade F, #837 of 994 statewide, top 86%, 232 students, 83% FRL); Bon Air Middle School (math 12% / reading 17%, grade F, #300 of 330 statewide, top 91%, 194 students, 84% FRL); Kokomo High School (math 19% / reading 48%, grade F, #289 of 369 statewide, top 78%, 1,519 students, 58% FRL).
• Market conditions: Rents soft (-1.5%/yr); 246 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 $629 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

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts; this cycle's ask has dropped $9k (9%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $91,000

Questions for the listing agent

1. Built in 1962 — 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. 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.
6. 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.
7. 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: 1.25% ✓
• Cap rate: 9.97%
• Cash-on-cash: 13.14%
• DSCR: 1.58
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $100,352
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2316 N Washington St	0.14mi	2/1.0 (-1)	836 (-7%)	3mo	$40,000	$48	75
2531 N Armstrong St	0.30mi	2/1.0 (-1)	864 (-4%)	1mo	$112,500	$130	74
2114 N Buckeye St	0.21mi	2/1.0 (-1)	960 (+7%)	0mo	$110,000	$115	73
1917 N Apperson Way	0.51mi	3/1.0	880 (-2%)	7mo	$48,000	$55	67
2134 N Buckeye St	0.20mi	2/1.0 (-1)	804 (-10%)	8mo	$90,000	$112	62
1608 N Courtland Ave	0.45mi	2/1.0 (-1)	840 (-6%)	2mo	$119,900	$143	62
1229 N Courtland Ave	0.69mi	2/1.0 (-1)	872 (-3%)	0mo	$84,900	$97	58
1908 N Lafountain St	0.49mi	3/1.0	816 (-9%)	8mo	$52,500	$64	56
1613 N Apperson Way	0.63mi	2/1.0 (-1)	838 (-6%)	2mo	$80,000	$95	53
1924 N Indiana Ave	0.30mi	3/2.0	1,024 (+14%)	8mo	$145,000	$142	52
1702 N Webster St	0.40mi	2/1.5 (-1)	800 (-11%)	7mo	$75,000	$94	51
2018 N Purdum St	0.65mi	3/1.0	768 (-14%)	0mo	$99,900	$130	46

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: -0.3%
• Equity multiple: 0.99×
• Total profit: $-290
• Equity at exit: $13,568

10-year hold

• IRR: 6.0%
• Equity multiple: 1.39×
• Total profit: $9,827
• Equity at exit: $7,868

Cash invested: $25,480 (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: 6.7×

Monthly cashflow live

• Estimated rent: $1,134 medium
• Mortgage (P&I): −$477
• Tax from tax record: −$102 /mo · $1,218/yr
• Insurance: −$38
• HOA: −$0
• Vacancy / Maint / Mgmt: −$238
• Net cashflow: $279

Break-even live

Break-even rent $781

Max offer price $91,000

Occupancy floor 70%

Sensitivity live

Price	-10% $330	-5% $305	+0% $279	+5% $253	+10% $227
Rent	-10% $189	-5% $234	+0% $279	+5% $324	+10% $369
Rate	-1.0pp $325	-0.5pp $302	base $279	+0.5pp $255	+1.0pp $231

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: $22,750
• Closing costs: $2,730
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
2864 Amberwood Pl Kokomo, IN	1.0–2.0	1.0	836	$1,069	$1.28	44d	4	0.70mi
1020 E Fischer St Kokomo, IN	2.0	1.0	720	$950	$1.32	44d	1	0.91mi

Listing history 13 events

1. 2026-06-21
   days on market $91,000 Active 14 DOM
2. 2026-06-19
   days on market $91,000 Active 12 DOM
3. 2026-06-18
   days on market $91,000 Active 11 DOM
4. 2026-06-17
   price $91,000 Active 10 DOM
5. 2026-06-17
   days on market $99,900 Active 10 DOM
6. 2026-06-16
   days on market $99,900 Active 9 DOM
7. 2026-06-15
   days on market $99,900 Active 8 DOM
8. 2026-06-14
   status $99,900 Active 6 DOM
9. 2026-06-09
   status $99,900 Pending 6 DOM
10. 2026-06-08
    days on market $99,900 Active 6 DOM
11. 2026-06-07
    days on market $99,900 Active 5 DOM
12. 2026-06-03
    remarks 523-char remark
13. 2026-06-03
    listed $99,900 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: $1,218 · $102/mo
• Projected year-2 tax: $1,218 · $102/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 3/10 Moderate FEMA zone X (unshaded) · 10% 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: $13,604
• − Mortgage interest: −$5,097
• − Property taxes: −$1,218
• − Insurance: −$455
• − Repairs & maintenance: −$1,088
• − Management: −$1,088
• − Depreciation: −$2,647
• Taxable income: $2,010
• Est. tax owed @ 24.0%: −$482
• After-tax cash flow: $2,865/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

+0.0% since first listed

2 events — show timeline

• 2026-06-02 Listed $99,900 IRMLS
• 2026-06-02 Listed $99,900 IRMLS

Property tax history

+13.4%/yr

Latest (2024): $1,218 · +11.5% YoY. Source: county tax records.