1008 E Gerhart St · Kokomo, IN 46901

$108,900

3 bd · 1.0 ba · 864 sqft · SingleFamily public records · 43 Days on market

Built 1955 6,098 sqft lot Est $114k · at est.

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Why this score? — see what drove the C- 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 +20.5/30.0
• ARV discount +9.5/15.0
• DSCR +6.5/10.0
• 1% rule +5.2/10.0
• 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

Three bedroom, one bath home that is currently rented month to month. This is a great investment or starter home. Close to the battery plant and 931.

Key facts

• 6,098 sq ft lot
• 2 parking spots
• Built 1955

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $109k.

Deal economics

• At list price, monthly cash flow is $144 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $109k).
• Recommended offer: $106k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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: Bon Air Elementary School (math 22% / reading 12%, grade F, #837 of 994 statewide, top 86%, 232 students, 83% 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 66% FRL track the district average.
• 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 $753 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

• It's been on market 43 days — a 3% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,633 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 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 1955 — 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: 1.02% ✓
• Cap rate: 7.88%
• Cash-on-cash: 5.67%
• DSCR: 1.25
• GRM: 8.2

CMA / ARV

• ARV (on-the-fly): $114,048
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1122 E Fischer St	0.15mi	3/1.0	864 (0%)	7mo	$102,500	$119	87
1108 E Gano St	0.23mi	3/1.0	832 (-4%)	4mo	$122,000	$147	80
2821 Fenley St	0.18mi	2/1.0 (-1)	896 (+4%)	2mo	$122,000	$136	79
1004 Cornell Rd	0.05mi	3/1.0	944 (+9%)	8mo	$125,000	$132	76
2707 N Apperson Way	0.42mi	3/1.0	864 (0%)	11mo	$97,900	$113	71
1917 N Apperson Way	0.70mi	3/1.0	880 (+2%)	7mo	$48,000	$55	58
2018 N Purdum St	0.57mi	3/1.0	768 (-11%)	0mo	$99,900	$130	55
1101 E Morgan St	0.50mi	2/1.0 (-1)	936 (+8%)	7mo	$126,900	$136	52
1908 N Lafountain St	0.73mi	3/1.0	816 (-6%)	8mo	$52,500	$64	50
1912 Northview Blvd	0.74mi	3/1.5	936 (+8%)	2mo	$180,000	$192	48
2210 N Apperson St	0.48mi	3/1.0	984 (+14%)	11mo	$125,000	$127	45
2411 N Buckeye St	0.73mi	2/1.0 (-1)	768 (-11%)	9mo	$116,000	$151	35

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: -10.9%
• Equity multiple: 0.62×
• Total profit: $-11,715
• Equity at exit: $16,237

10-year hold

• IRR: -6.4%
• Equity multiple: 0.64×
• Total profit: $-10,923
• Equity at exit: $9,416

Cash invested: $30,492 (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: 8.2×

Monthly cashflow live

• Estimated rent: $1,108 medium
• Mortgage (P&I): −$571
• Tax from tax record: −$115 /mo · $1,380/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$233
• Net cashflow: $144

Break-even live

Break-even rent $926

Max offer price $108,900

Occupancy floor 82%

Sensitivity live

Price	-10% $206	-5% $175	+0% $144	+5% $113	+10% $82
Rent	-10% $57	-5% $100	+0% $144	+5% $188	+10% $232
Rate	-1.0pp $199	-0.5pp $172	base $144	+0.5pp $116	+1.0pp $87

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: $27,225
• Closing costs: $3,267
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	0.14mi
2864 Amberwood Pl Kokomo, IN	1.0–2.0	1.0	836	$1,069	$1.28	45d	4	0.78mi

Listing history 4 events

1. 2026-02-12
   status Pending
2. 2025-12-23
   listed $108,900 Active
3. 2023-09-23
   historical $900
4. 2023-09-15
   listed $900

ⓘ 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: $1,380 · $115/mo
• Projected year-2 tax: $1,380 · $115/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: $13,299
• − Mortgage interest: −$6,100
• − Property taxes: −$1,380
• − Insurance: −$544
• − Repairs & maintenance: −$1,064
• − Management: −$1,064
• − Depreciation: −$3,168
• Taxable loss: −$21
• Est. tax savings @ 24.0%: +$5
• After-tax cash flow: $1,734/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

4 events — show timeline

• 2026-02-12 Pending — IRMLS
• 2025-12-23 Listed $108,900 IRMLS
• 2023-09-23 Rental Removed $900 BUILDIUM
• 2023-09-15 Listed for Rent $900 BUILDIUM

Property tax history

+13.1%/yr

Latest (2024): $1,380 · +17.3% YoY. Source: county tax records.