703 Grove Ave · Kokomo, IN 46902

$120,000

3 bd · 1.5 ba · 1,350 sqft · SingleFamily public records

Built 1950 9,714 sqft lot Est $165k · 27% under

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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 +22.1/30.0
• ARV discount +15.0/15.0
• DSCR +7.1/10.0
• 1% rule +5.4/10.0
• 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

3 bedroom/2 bath home with 1350 sq ft living space plus a partially finished basement

Key facts

• 9,714 sq ft lot
• Garage
• Built 1950

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $193 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Cap rate 8.2% 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: 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; 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 $830 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 0 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Watch-outs: built in 1950 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $120,000

Questions for the listing agent

1. Built in 1950 — 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: 1.04% ✓
• Cap rate: 8.23%
• Cash-on-cash: 6.91%
• DSCR: 1.31
• GRM: 8.0

CMA / ARV

• ARV (on-the-fly): $164,700
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
621 Somerset Dr	0.24mi	3/1.5	1,272 (-6%)	1mo	$155,000	$122	78
2503 Sherman Dr	0.32mi	3/1.0	1,280 (-5%)	1mo	$160,000	$125	74
1106 W Boulevard St	0.40mi	2/2.5 (-1)	1,364 (+1%)	1mo	$122,000	$89	70
1212 W Boulevard St	0.45mi	2/2.5 (-1)	1,364 (+1%)	0mo	$137,000	$100	68
1800 S Main St	0.57mi	3/1.0	1,330 (-2%)	2mo	$163,500	$123	68
1520 S Courtland Ave	0.56mi	3/1.0	1,438 (+6%)	2mo	$155,000	$108	59
1931 S Bell St	0.72mi	3/2.0	1,414 (+5%)	0mo	$235,000	$166	56
1819 S Buckeye St	0.46mi	2/2.0 (-1)	1,240 (-8%)	4mo	$70,500	$57	55
1704 S Buckeye St	0.57mi	3/1.0	1,200 (-11%)	2mo	$140,000	$117	51
1709 S Buckeye St	0.54mi	2/2.0 (-1)	1,482 (+10%)	2mo	$149,000	$101	50
3273 Almquist Ln	0.67mi	3/2.0	1,522 (+13%)	2mo	$310,200	$204	44
412 E Poplar St	0.70mi	3/2.0	1,150 (-15%)	3mo	$195,000	$170	38

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: -7.0%
• Equity multiple: 0.74×
• Total profit: $-8,617
• Equity at exit: $17,892

10-year hold

• IRR: 1.1%
• Equity multiple: 1.07×
• Total profit: $2,379
• Equity at exit: $10,375

Cash invested: $33,600 (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: 8.0×

Monthly cashflow live

• Estimated rent: $1,250 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$114 /mo · $1,373/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$262
• Net cashflow: $193

Break-even live

Break-even rent $1,005

Max offer price $120,000

Occupancy floor 80%

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: $30,000
• Closing costs: $3,600
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	7d	3	0.49mi
430 W Rainbow Cir Kokomo, IN	3.0	1.0–2.5	966	$1,345	$1.39	1d	6	1.00mi

Listing history 2 events

1. 2026-06-10
   remarks 85-char remark
2. 2026-06-10
   listed $120,000 Pending

ⓘ 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: $1,373 · $114/mo
• Projected year-2 tax: $1,373 · $114/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 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $14,995
• − Mortgage interest: −$6,722
• − Property taxes: −$1,373
• − Insurance: −$600
• − Repairs & maintenance: −$1,200
• − Management: −$1,200
• − Depreciation: −$3,491
• Taxable income: $410
• Est. tax owed @ 24.0%: −$98
• After-tax cash flow: $2,223/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

2 events — show timeline

• 2026-06-09 Delisted — IRMLS
• 2026-06-08 Listed $120,000 IRMLS

Property tax history

+10.9%/yr

Latest (2024): $1,373 · +39.3% YoY. Source: county tax records.