739 S Jay St · Kokomo, IN 46901

$84,900

4 bd · 1.5 ba · 1,768 sqft · SingleFamily public records · 21 Days on market

Built 1908 6,534 sqft lot Est $163k · 48% 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 +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

If you’ve been looking for a home with great potential in a central location, this 3 bedroom, 1.5 bath property is worth a look. Situated close to all the new downtown development and with easy access to Markland Avenue, you’re just minutes from shopping, restaurants, and everyday conveniences. Inside, the home offers a spacious main level with a large living area that flows into a dining room and an ample sized kitchen, creating a semi open layout that works well for daily living or entertaining. The main floor primary bedroom includes its own en suite bathroom with a walk in shower and a sliding glass door that leads directly to a large wooden deck, perfect for relaxing outdoo

Key facts

• Large wooden deck
• Central location
• Bonus room

Tags

• CENTRAL LOCATION
• EASY ACCESS TO MARKLAND AVENUE
• LARGE WOODEN DECK
• PRIVACY FENCE
• ENCLOSED FRONT PORCH
• BONUS ROOM

Property features AI

Finance

• Other: Listing broker: The Hardie Group

Exterior

• Parking: Detached concrete garage with 2 spaces
• Utilities: Public water; Public sewer; Cable connected
• Home design: Single-family residence (site-built); 2 stories
• Construction: Aluminum and vinyl siding; Block foundation; Built as site-built home
• Exterior features: Enclosed porch; Deck; Partial privacy fencing; Rolling slope lot; Lot dimensions approximately 50 x 128

Interior

• Kitchen: Microwave; Refrigerator; Gas range
• Bedrooms: Total rooms: 7
• Flooring: Carpet; Laminate; Vinyl
• Bathrooms: 1 full bathroom; 1 half bathroom; 1 main-level bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Laminate counters; 1 fireplace (no special features listed)
• Laundry & utility: Washer hookup; Electric dryer hookup; Main-level laundry

What this means for you Summary

Snapshot

• This is a 4-bed/1.5-bath single-family listed at $85k.

Deal economics

• At list price, monthly cash flow is $600 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $85k).
• Recommended offer: $84k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.8% 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 soft (-1.5%/yr); 242 active listings in the ZIP; 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 $587 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $24k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($84k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $30k; list at $85k implies a 183% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1908 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,626 (1.5% below list)

Questions for the listing agent

1. Built in 1908 — 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: 1.71% ✓
• Cap rate: 14.77%
• Cash-on-cash: 30.29%
• DSCR: 2.35
• GRM: 4.9

CMA / ARV

• ARV (on-the-fly): $162,656
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
739 S Jay St	0.00mi	3/1.5 (-1)	1,708 (-3%)	0mo	$67,000	$39	89
700 S Locke St	0.13mi	3/2.0 (-1)	1,680 (-5%)	3mo	$87,000	$52	76
910 S Apperson Way	0.19mi	4/2.0	1,700 (-4%)	9mo	$129,900	$76	75
822 E King St	0.12mi	3/2.0 (-1)	1,728 (-2%)	11mo	$177,900	$103	74
807 S Bell St	0.14mi	3/1.0 (-1)	1,680 (-5%)	9mo	$77,000	$46	70
225 E Vaile Ave	0.32mi	3/2.0 (-1)	1,948 (+10%)	1mo	$170,000	$87	60
514 S Webster St	0.70mi	3/1.5 (-1)	1,792 (+1%)	2mo	$165,000	$92	59
932 E Mulberry St	0.70mi	3/2.0 (-1)	1,728 (-2%)	1mo	$42,000	$24	56
1036 S Webster St	0.71mi	3/2.0 (-1)	1,760 (-0%)	5mo	$175,000	$99	55
804 E Sycamore St	0.55mi	3/1.5 (-1)	1,516 (-14%)	1mo	$203,000	$134	45
429 S Armstong St	0.68mi	3/2.0 (-1)	1,576 (-11%)	8mo	$149,900	$95	37
1329 S Buckeye	0.72mi	4/2.0	2,026 (+15%)	6mo	$197,000	$97	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: 21.6%
• Equity multiple: 1.85×
• Total profit: $20,195
• Equity at exit: $12,659

10-year hold

• IRR: 27.7%
• Equity multiple: 3.12×
• Total profit: $50,321
• Equity at exit: $7,341

Cash invested: $23,772 (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: 242
• Price-to-rent: 4.9×

Monthly cashflow live

• Estimated rent: $1,454 medium
• Mortgage (P&I): −$445
• Tax from tax record: −$68 /mo · $816/yr
• Insurance: −$35
• HOA: −$0
• Vacancy / Maint / Mgmt: −$305
• Net cashflow: $600

Break-even live

Break-even rent $694

Max offer price $84,900

Occupancy floor 54%

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: $21,225
• Closing costs: $2,547
• Reserves months: —
• Total cash needed: —

Listing history 4 events

1. 2026-05-08
   status Pending
2. 2026-05-04
   price $84,900
3. 2026-04-17
   listed $89,900 Active
4. 2019-12-26
   soldstatus $30,000

ⓘ 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: $816 · $68/mo
• Projected year-2 tax: $816 · $68/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 ≥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: $17,447
• − Mortgage interest: −$4,756
• − Property taxes: −$816
• − Insurance: −$424
• − Repairs & maintenance: −$1,396
• − Management: −$1,396
• − Depreciation: −$2,470
• Taxable income: $6,190
• Est. tax owed @ 24.0%: −$1,486
• After-tax cash flow: $5,715/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

+183.0% since first listed

4 events — show timeline

• 2026-05-08 Pending — IRMLS
• 2026-05-04 Price Changed $84,900 IRMLS
• 2026-04-17 Listed $89,900 IRMLS
• 2019-12-26 Sold (Public Records) $30,000 Public Records

Property tax history

+23.9%/yr

Latest (2024): $816 · +11.6% YoY. Source: county tax records.