1033 S Locke St · Kokomo, IN 46902

$67,500

2 bd · 1.0 ba · 768 sqft · SingleFamily · 167 Days on market

Built 1914 5,279 sqft lot Est $73k · 7% under ↓ 21% since listing

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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
• ARV discount +10.9/15.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• 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 character-filled older home on S Locke St offers 2 bedrooms, 1 full bath, a cozy front sitting room, and a dedicated dining room-perfect for everyday living and entertaining. Situated on a spacious double lot, the property also features a detached garage and a shed in the backyard! Enjoy the charm of a classic home with the added versatility of extra space, inside and out. Conveniently located near schools, parks, and local amenities. A unique opportunity in the heart of Kokomo!

Key facts

• Walk-up attic access
• Unique opportunity
• Detached garage

Tags

• DETACHED GARAGE
• WALK-UP ATTIC ACCESS
• UNIQUE OPPORTUNITY

Property features AI

Finance

• HOA & community: No association amenities

Exterior

• Parking: Detached off-street garage with 2 spaces
• Utilities: Public water; Public sewer; Electric service available
• Home design: Single-family residence (site-built); One story
• Construction: Aluminum siding; Block foundation; Shingle roof; Basement: partial, unfinished with crawl space and sump pump
• Exterior features: Enclosed porch; Level lot; Lot dimensions approximately 40 x 132

Interior

• Kitchen: Refrigerator; Gas oven; Gas range; Exhaust fan
• Bedrooms: Total rooms: 5
• Flooring: Laminate; Vinyl
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Natural gas forced-air heating; No cooling
• Interior features: Laminate counters; One fireplace (no special features)
• Laundry & utility: Washer hookup (main level); Electric dryer hookup; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $68k.

Deal economics

• At list price, monthly cash flow is $321 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($997 rent vs $68k).
• Recommended offer: $59k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.0% 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: Elwood Haynes Elementary School (math 22% / reading 17%, grade F, #814 of 994 statewide, top 83%, 611 students, 88% 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).
• 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 $467 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 + 1.8% rent growth), your $19k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 167 days — a 12% lower offer ($59k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts 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; 23% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1914 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $59,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 167 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1914 — 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: 1.48% ✓
• Cap rate: 12.00%
• Cash-on-cash: 20.37%
• DSCR: 1.91
• GRM: 5.6

CMA / ARV

• ARV (on-the-fly): $72,960
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1017 S Locke St	0.03mi	1/1.0 (-1)	726 (-6%)	5mo	$70,000	$96	81
1304 S Locke St	0.28mi	2/1.0	796 (+4%)	5mo	$105,000	$132	77
1113 E Markland Ave	0.20mi	2/1.0	720 (-6%)	12mo	$65,000	$90	70
404 E Vaile Ave	0.49mi	2/1.0	792 (+3%)	4mo	$75,000	$95	68
806 S Home Ave	0.41mi	2/1.0	832 (+8%)	3mo	$78,000	$94	64
1040 S Purdum St	0.10mi	3/1.5 (+1)	864 (+12%)	8mo	$118,000	$137	61
1217 S Jay St	0.22mi	3/1.0 (+1)	854 (+11%)	7mo	$115,000	$135	60
1311 E Vaile Ave	0.48mi	2/1.0	832 (+8%)	10mo	$16,200	$19	56
911 Bell St	0.21mi	2/2.0	869 (+13%)	12mo	$37,000	$43	54
1031 E Laguna St	0.52mi	2/1.0	864 (+12%)	2mo	$94,900	$110	53
1138 S Plate St	0.39mi	2/1.0	880 (+15%)	10mo	$79,900	$91	49
1216 S Buckeye St	0.54mi	1/1.0 (-1)	684 (-11%)	7mo	$15,000	$22	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 · 1.8% rent growth · sell at horizon

5-year hold

• IRR: 11.3%
• Equity multiple: 1.44×
• Total profit: $8,320
• Equity at exit: $10,064

10-year hold

• IRR: 19.3%
• Equity multiple: 2.53×
• Total profit: $28,853
• Equity at exit: $5,836

Cash invested: $18,900 (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: 5.6×

Monthly cashflow live

• Estimated rent: $997 medium
• Mortgage (P&I): −$354
• Tax est. 1.5%: −$84 /mo · $1,012/yr
• Insurance: −$28
• HOA: −$0
• Vacancy / Maint / Mgmt: −$209
• Net cashflow: $321

Break-even live

Break-even rent $590

Max offer price $67,500

Occupancy floor 63%

Sensitivity live

Price	-10% $367	-5% $344	+0% $321	+5% $297	+10% $274
Rent	-10% $242	-5% $281	+0% $321	+5% $360	+10% $400
Rate	-1.0pp $355	-0.5pp $338	base $321	+0.5pp $303	+1.0pp $286

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: $16,875
• Closing costs: $2,025
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1901 S Goyer Rd Kokomo, IN	1.0–2.0	1.0–1.5	875	$1,049	$1.20	45d	4	1.44mi

Listing history 26 events

1. 2026-06-21
   days on market $67,500 Active 167 DOM
2. 2026-06-19
   days on market $67,500 Active 165 DOM
3. 2026-06-18
   days on market $67,500 Active 164 DOM
4. 2026-06-17
   days on market $67,500 Active 163 DOM
5. 2026-06-16
   days on market $67,500 Active 162 DOM
6. 2026-06-15
   days on market $67,500 Active 161 DOM
7. 2026-06-14
   days on market $67,500 Active 159 DOM
8. 2026-06-13
   days on market $67,500 Active 158 DOM
9. 2026-06-10
   days on market $67,500 Active 156 DOM
10. 2026-06-09
    days on market $67,500 Active 155 DOM
11. 2026-06-08
    days on market $67,500 Active 154 DOM
12. 2026-06-07
    days on market $67,500 Active 153 DOM
13. 2026-06-02
    days on market $67,500 Active 148 DOM
14. 2026-06-01
    days on market $67,500 Active 147 DOM
15. 2026-05-31
    days on market $67,500 Active 146 DOM
16. 2026-05-30
    days on market $67,500 Active 145 DOM
17. 2026-04-14
    price $67,500
18. 2026-01-08
    price $68,000
19. 2026-01-08
    price $63,900
20. 2026-01-05
    listed $68,000 Active
21. 2025-10-15
    soldstatus $55,000 Closed 488-char remark

    Show marketing remark (488 chars)

    This character-filled older home on S Locke St offers 2 bedrooms, 1 full bath, a cozy front sitting room, and a dedicated dining room-perfect for everyday living and entertaining. Situated on a spacious double lot, the property also features a detached garage and a shed in the backyard! Enjoy the charm of a classic home with the added versatility of extra space, inside and out. Conveniently located near schools, parks, and local amenities. A unique opportunity in the heart of Kokomo!

22. 2025-08-13
    status Pending 488-char remark

    Show marketing remark (488 chars)

    This character-filled older home on S Locke St offers 2 bedrooms, 1 full bath, a cozy front sitting room, and a dedicated dining room-perfect for everyday living and entertaining. Situated on a spacious double lot, the property also features a detached garage and a shed in the backyard! Enjoy the charm of a classic home with the added versatility of extra space, inside and out. Conveniently located near schools, parks, and local amenities. A unique opportunity in the heart of Kokomo!

23. 2025-07-31
    price $79,900 488-char remark

    Show marketing remark (488 chars)

    This character-filled older home on S Locke St offers 2 bedrooms, 1 full bath, a cozy front sitting room, and a dedicated dining room-perfect for everyday living and entertaining. Situated on a spacious double lot, the property also features a detached garage and a shed in the backyard! Enjoy the charm of a classic home with the added versatility of extra space, inside and out. Conveniently located near schools, parks, and local amenities. A unique opportunity in the heart of Kokomo!

24. 2025-07-25
    status Active 488-char remark

    Show marketing remark (488 chars)

    This character-filled older home on S Locke St offers 2 bedrooms, 1 full bath, a cozy front sitting room, and a dedicated dining room-perfect for everyday living and entertaining. Situated on a spacious double lot, the property also features a detached garage and a shed in the backyard! Enjoy the charm of a classic home with the added versatility of extra space, inside and out. Conveniently located near schools, parks, and local amenities. A unique opportunity in the heart of Kokomo!

25. 2025-07-18
    status Pending 488-char remark

    Show marketing remark (488 chars)

    This character-filled older home on S Locke St offers 2 bedrooms, 1 full bath, a cozy front sitting room, and a dedicated dining room-perfect for everyday living and entertaining. Situated on a spacious double lot, the property also features a detached garage and a shed in the backyard! Enjoy the charm of a classic home with the added versatility of extra space, inside and out. Conveniently located near schools, parks, and local amenities. A unique opportunity in the heart of Kokomo!

26. 2025-07-02
    listed $85,000 Active 488-char remark

    Show marketing remark (488 chars)

    This character-filled older home on S Locke St offers 2 bedrooms, 1 full bath, a cozy front sitting room, and a dedicated dining room-perfect for everyday living and entertaining. Situated on a spacious double lot, the property also features a detached garage and a shed in the backyard! Enjoy the charm of a classic home with the added versatility of extra space, inside and out. Conveniently located near schools, parks, and local amenities. A unique opportunity in the heart of Kokomo!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $11,959
• − Mortgage interest: −$3,781
• − Property taxes: −$1,012
• − Insurance: −$338
• − Repairs & maintenance: −$957
• − Management: −$957
• − Depreciation: −$1,964
• Taxable income: $2,951
• Est. tax owed @ 24.0%: −$708
• After-tax cash flow: $3,142/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

-20.6% since first listed

10 events — show timeline

• 2026-04-14 Price Changed $67,500 IRMLS
• 2026-01-08 Price Changed $68,000 IRMLS
• 2026-01-08 Price Changed $63,900 IRMLS
• 2026-01-05 Listed $68,000 IRMLS
• 2025-10-15 Sold (MLS) $55,000 MIBOR as Distributed by MLS Grid
• 2025-08-13 Pending — MIBOR as Distributed by MLS Grid
• 2025-07-31 Price Changed $79,900 MIBOR as Distributed by MLS Grid
• 2025-07-25 Relisted — MIBOR as Distributed by MLS Grid
• 2025-07-18 Pending — MIBOR as Distributed by MLS Grid
• 2025-07-02 Listed $85,000 MIBOR as Distributed by MLS Grid