1330 S Jay St · Kokomo, IN 46902

$130,000

1 bd · 1.0 ba · 528 sqft · MultiFamily public records · 56 Days on market

Built 1983 5,271 sqft lot

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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
• DSCR +10.0/10.0
• 1% rule +8.0/10.0
• ARV discount +7.5/15.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

Income opportunity awaits with this cute and cozy duplex. You could live on one side and rent out the other or double your income and rent them both out. Each side features an open kitchen and living space, one spacious bedroom, and a full bathroom. Exterior has been given a recent facelift with fresh paint and additional parking that can be accessed by the alley from the back. Convenient to many of the amenities in the heart of Kokomo.

Key facts

• 5,271 sq ft lot
• 2 parking spots
• Built 1983

Property features AI

Finance

• Other: Pets allowed with breed restrictions

Exterior

• Parking: Two open parking spaces
• Utilities: Public water; Public sewer
• Home design: Residential income property (duplex); Single-story
• Construction: Brick and vinyl siding exterior
• Exterior features: Level lot; Lot dimensions approximately 40 x 132

Interior

• Kitchen: Range; Refrigerator
• Flooring: Carpet; Vinyl
• Bathrooms: Two full bathrooms (both on the main level)
• Heating & cooling: Baseboard heating; Window air conditioning units
• Interior features: Range, Refrigerator; Carpet and vinyl flooring; Crawl space basement

What this means for you Summary

Snapshot

• This is a 2 × 1-bed/1.0-bath units multifamily listed at $130k.

Deal economics

• At list price, monthly cash flow is $505 ($6k/yr) — positive. Per door: $253/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 11.0% 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: Sycamore Elementary School (math 32% / reading 27%, grade F, #697 of 994 statewide, top 73%, 401 students, 75% 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); 232 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 67% of comp listings sitting > 30 days — soft ceiling on asking rent; 194 units permitted in Howard County in 2024 (0 in 5+ unit buildings).
• This rent runs 33% of the median local income ($62k/yr) — at the standard rent-burdened threshold; future hikes will face affordability resistance.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $899 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.
• At projected returns (-3.0% appreciation + 1.8% rent growth), your $36k cash investment doubles in ~8 years — after that, you're playing with house money.

Negotiation context

• It's been on market 56 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 2y 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 $97k; 34% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $126,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 56 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
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 apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.30% ✓
• Cap rate: 10.96%
• Cash-on-cash: 16.66%
• DSCR: 1.74
• GRM: 6.4

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 1.8% rent growth · sell at horizon

5-year hold

• IRR: 6.5%
• Equity multiple: 1.25×
• Total profit: $9,095
• Equity at exit: $19,383

10-year hold

• IRR: 14.8%
• Equity multiple: 2.13×
• Total profit: $41,233
• Equity at exit: $11,240

Cash invested: $36,400 (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: 12.8×

Monthly cashflow live

• Estimated rent: $1,688 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$92 /mo · $1,106/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$354
• Net cashflow: $505

Break-even live

Break-even rent $1,048

Max offer price $130,000

Occupancy floor 65%

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	1	1	$1,688
Total (2 units)			$1,688

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: $32,500
• Closing costs: $3,900
• Reserves months: —
• Total cash needed: —

Rent comps 3 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	$845	$0.97	43d	4	1.32mi
1901 S Park Rd Kokomo, IN	2.0	1.0	750	$925	$1.23	7d	3	1.38mi
1930 S Goyer Rd Kokomo, IN	1.0–2.0	1.0	621	$775	$1.25	43d	6	1.41mi

Listing history 21 events

1. 2026-06-19
   days on market $130,000 Active 56 DOM
2. 2026-06-18
   days on market $130,000 Active 55 DOM
3. 2026-06-17
   days on market $130,000 Active 54 DOM
4. 2026-06-16
   days on market $130,000 Active 53 DOM
5. 2026-06-15
   days on market $130,000 Active 52 DOM
6. 2026-06-14
   days on market $130,000 Active 50 DOM
7. 2026-06-13
   days on market $130,000 Active 49 DOM
8. 2026-06-10
   days on market $130,000 Active 47 DOM
9. 2026-06-09
   days on market $130,000 Active 46 DOM
10. 2026-06-08
    days on market $130,000 Active 45 DOM
11. 2026-06-07
    days on market $130,000 Active 44 DOM
12. 2026-06-02
    days on market $130,000 Active 39 DOM
13. 2026-06-01
    days on market $130,000 Active 38 DOM
14. 2026-05-31
    days on market $130,000 Active 37 DOM
15. 2026-05-30
    days on market $130,000 Active 36 DOM
16. 2026-04-24
    listed $130,000 Active
17. 2024-01-25
    soldstatus $97,000 Closed 440-char remark

    Show marketing remark (440 chars)

    Income opportunity awaits with this cute and cozy duplex. You could live on one side and rent out the other or double your income and rent them both out. Each side features an open kitchen and living space, one spacious bedroom, and a full bathroom. Exterior has been given a recent facelift with fresh paint and additional parking that can be accessed by the alley from the back. Convenient to many of the amenities in the heart of Kokomo.

18. 2024-01-18
    status Pending 440-char remark

    Show marketing remark (440 chars)

    Income opportunity awaits with this cute and cozy duplex. You could live on one side and rent out the other or double your income and rent them both out. Each side features an open kitchen and living space, one spacious bedroom, and a full bathroom. Exterior has been given a recent facelift with fresh paint and additional parking that can be accessed by the alley from the back. Convenient to many of the amenities in the heart of Kokomo.

19. 2024-01-04
    price $109,000 440-char remark

    Show marketing remark (440 chars)

    Income opportunity awaits with this cute and cozy duplex. You could live on one side and rent out the other or double your income and rent them both out. Each side features an open kitchen and living space, one spacious bedroom, and a full bathroom. Exterior has been given a recent facelift with fresh paint and additional parking that can be accessed by the alley from the back. Convenient to many of the amenities in the heart of Kokomo.

20. 2024-01-04
    listed $112,900 Active 440-char remark

    Show marketing remark (440 chars)

    Income opportunity awaits with this cute and cozy duplex. You could live on one side and rent out the other or double your income and rent them both out. Each side features an open kitchen and living space, one spacious bedroom, and a full bathroom. Exterior has been given a recent facelift with fresh paint and additional parking that can be accessed by the alley from the back. Convenient to many of the amenities in the heart of Kokomo.

21. 2011-11-07
    soldstatus $13,500

ⓘ 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: $1,106 · $92/mo
• Projected year-2 tax: $1,106 · $92/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 6/10 Major FEMA zone X (unshaded) · 68% 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: $20,256
• − Mortgage interest: −$7,282
• − Property taxes: −$1,106
• − Insurance: −$650
• − Repairs & maintenance: −$1,620
• − Management: −$1,620
• − Depreciation: −$3,782
• Taxable income: $4,195
• Est. tax owed @ 24.0%: −$1,007
• After-tax cash flow: $5,059/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

+863.0% since first listed

6 events — show timeline

• 2026-04-24 Listed $130,000 IRMLS
• 2024-01-25 Sold (MLS) $97,000 IRMLS
• 2024-01-18 Pending — IRMLS
• 2024-01-04 Price Changed $109,000 IRMLS
• 2024-01-04 Listed $112,900 IRMLS
• 2011-11-07 Sold (Public Records) $13,500 Public Records

Property tax history

+3.1%/yr

Latest (2024): $1,106 · +0.9% YoY. Source: county tax records.