2300 Carmelita Blvd · Kokomo, IN 46902

$140,000

3 bd · 1.5 ba · 884 sqft · SingleFamily public records · 4 Days on market

Built 1972 7,405 sqft lot Est $133k · 6% over

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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 +14.9/30.0
• ARV discount +5.0/15.0
• DSCR +4.6/10.0
• Livability +3.4/5.0
• 1% rule +3.3/10.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Welcome to this charming 3-bedroom, 1-bath home filled with warmth and thoughtful updates. Fresh paint and luxury vinyl plank flooring create a bright, welcoming feel throughout, while replacement windows, a newer roof, and a new water heater provide added peace of mind. Complete with a 1-car attached garage and an easy-to-maintain layout, this home offers comfort, convenience, and everyday charm.

Key facts

• Fresh paint
• Newer roof
• New water heater

Tags

• FRESH PAINT
• LUXURY VINYL PLANK FLOORING
• REPLACEMENT WINDOWS
• NEWER ROOF
• NEW WATER HEATER
• EASY TO MAINTAIN LAYOUT

Property features AI

Exterior

• Parking: Attached concrete garage with 1 garage space
• Utilities: Public water; Public sewer; Electric service; Gas service
• Home design: Single-family residence; Site-built home; One story
• Construction: Brick and vinyl siding exterior; Slab foundation
• Exterior features: Level lot; Shed(s)

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Electric range
• Flooring: Tile; Vinyl
• Bathrooms: One full bathroom (main level)
• Heating & cooling: Natural gas forced-air heating; Central air conditioning; Ceiling fan(s)
• Interior features: Ceiling fans; Eat-in kitchen; Laminate countertops; One fireplace
• Laundry & utility: Washer hookup (main level); Electric dryer hookup (main level); Washer; Dryer; Gas water heater

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $41 ($490/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 $117k (16.7% below list).
• Recommended offer: $117k (16.7% below list) — sets the bar for 1% rule.
• Cap rate 6.6% vs local median 5.2% in Kokomo — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: Boulevard Elementary School (math 32% / reading 17%, grade F, #762 of 994 statewide, top 78%, 378 students, 57% 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) — zoned schools at 64% FRL track the district average.
• Market conditions: Rents rising (+1.8%/yr); 232 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 $968 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 4 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $80k; list at $140k implies a 75% gain — meaningful room to come down on a strong offer.

Recommended offer $116,610 (16.7% below list)

Questions for the listing agent

1. Built in 1972 — 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: 0.83% ✗
• Cap rate: 6.64%
• Cash-on-cash: 1.25%
• DSCR: 1.06
• GRM: 10.0

CMA / ARV

• ARV (on-the-fly): $132,600
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2305 Baton Rouge Dr	0.09mi	3/1.0	896 (+1%)	4mo	$70,000	$78	88
2208 Beauvoir Ct	0.13mi	3/1.0	832 (-6%)	2mo	$125,000	$150	80
2205 Carmelita Blvd	0.04mi	3/1.0	935 (+6%)	8mo	$135,000	$144	80
3103 Baton Rouge Dr	0.08mi	3/1.0	844 (-4%)	9mo	$136,400	$162	80
1813 Elva Dr	0.43mi	3/1.0	936 (+6%)	7mo	$145,000	$155	62
2400 Finney Lee Dr	0.38mi	3/1.0	1,008 (+14%)	18mo	$140,000	$139	42

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: -15.6%
• Equity multiple: 0.45×
• Total profit: $-21,515
• Equity at exit: $20,874

10-year hold

• IRR: -9.2%
• Equity multiple: 0.46×
• Total profit: $-21,107
• Equity at exit: $12,105

Cash invested: $39,200 (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: 232
• Price-to-rent: 10.0×

Monthly cashflow live

• Estimated rent: $1,166 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$88 /mo · $1,055/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $41

Break-even live

Break-even rent $1,114

Max offer price $140,000

Occupancy floor 92%

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: $35,000
• Closing costs: $4,200
• 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	8d	3	1.38mi

Listing history 5 events

1. 2026-06-19
   days on market $140,000 Active 4 DOM
2. 2026-06-18
   days on market $140,000 Active 3 DOM
3. 2026-06-17
   days on market $140,000 Active 2 DOM
4. 2026-06-15
   remarks 400-char remark
5. 2026-06-15
   listed $140,000 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: $1,055 · $88/mo
• Projected year-2 tax: $1,122 · $94/mo
• Expected delta: +$68/yr (+$6/mo · 6.4%)

ⓘ 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 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,993
• − Mortgage interest: −$7,842
• − Property taxes: −$1,055
• − Insurance: −$700
• − Repairs & maintenance: −$1,119
• − Management: −$1,119
• − Depreciation: −$4,073
• Taxable loss: −$1,916
• Est. tax savings @ 24.0%: +$460
• After-tax cash flow: $949/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

+75.2% since first listed

2 events — show timeline

• 2026-06-15 Listed $140,000 IRMLS
• 2001-08-01 Sold (Public Records) $79,900 Public Records

Property tax history

+10.2%/yr

Latest (2024): $1,055 · +28.5% YoY. Source: county tax records.