1033 S Mccann St · Kokomo, IN 46902

$120,000

2 bd · 1.0 ba · 720 sqft · SingleFamily public records · 13 Days on market

Built 1918 6,316 sqft lot Est $88k · 37% 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 +16.9/30.0
• DSCR +5.3/10.0
• 1% rule +3.5/10.0
• Livability +3.4/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

Charming Cottage located near Highland Park. This 2 BR 1 BA has an enclosed porch and fenced backyard, updates include exterior paint, water heater '17, A/C '08 and roof '07. Beautiful hardwood floors and updated kitchen. Perfect first home or investment.

Key facts

• Original woodwork
• Hardwood floors
• Detached garage

Tags

• HARDWOOD FLOORS
• ORIGINAL WOODWORK
• CLASSIC INTERIOR DOORS
• DEDICATED DINING ROOM
• FULLY APPLIANCED KITCHEN
• DETACHED GARAGE

Property features AI

Finance

• Other: Residential property

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer; Electric service
• Home design: Single-family site-built home; One story
• Construction: Asbestos and vinyl siding exterior; Block foundation
• Exterior features: Covered porch; Privacy fencing; Level lot; Lot dimensions approximately 48 x 132

Interior

• Kitchen: Dishwasher; Microwave; Refrigerator; Gas range
• Bedrooms: Total rooms: 4
• Flooring: Hardwood floors; Tile floors
• Bathrooms: One full bathroom; One half bathroom; Two bathrooms on the main level
• Heating & cooling: Natural gas heating; Central air conditioning; Ceiling fans
• Interior features: Ceiling fans; Crown molding; Laminate countertops; Blinds; One fireplace (none specified as functional)
• Laundry & utility: Washer hookup; Electric dryer hookup; Washer and dryer included; Laundry located in the basement; Electric water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $79 ($948/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 $102k (15.1% below list).
• Recommended offer: $102k (15.1% below list) — sets the bar for 1% rule.
• Cap rate 7.1% 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: 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); 235 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 13 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y 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 $56k; list at $120k implies a 112% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1918 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $101,831 (15.1% below list)

Questions for the listing agent

1. Built in 1918 — 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: 0.85% ✗
• Cap rate: 7.08%
• Cash-on-cash: 2.82%
• DSCR: 1.13
• GRM: 9.8

CMA / ARV

• ARV (on-the-fly): $87,840
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1027 S Mccann St	0.01mi	2/1.0	816 (+13%)	2mo	$110,000	$135	76
625 W Virginia Ave	0.22mi	1/1.0 (-1)	736 (+2%)	8mo	$65,000	$88	75
410 W Virginia Ave	0.34mi	2/1.0	728 (+1%)	16mo	$111,900	$154	69
1443 S Webster St	0.46mi	2/1.0	728 (+1%)	15mo	$77,000	$106	64
925 W Virginia Ave	0.17mi	2/1.0	816 (+13%)	13mo	$132,500	$162	60
419 W Defenbaugh St	0.51mi	2/1.0	792 (+10%)	1mo	$130,000	$164	59
1216 S Buckeye St	0.53mi	1/1.0 (-1)	684 (-5%)	7mo	$15,000	$22	56
404 W Firmin St	0.57mi	1/1.0 (-1)	722 (+0%)	18mo	$57,500	$80	53
416 W Foster St	0.30mi	2/1.0	818 (+14%)	13mo	$100,000	$122	52
1324 S Armstrong St	0.45mi	2/1.0	800 (+11%)	14mo	$115,000	$144	49
118 E Defenbaugh St	0.71mi	2/1.0	720 (0%)	23mo	$85,000	$118	48
1414 S Buckeye St	0.61mi	2/1.0	784 (+9%)	14mo	$52,000	$66	45

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: -13.1%
• Equity multiple: 0.53×
• Total profit: $-15,679
• Equity at exit: $17,892

10-year hold

• IRR: -5.9%
• Equity multiple: 0.64×
• Total profit: $-12,241
• 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: 235
• Price-to-rent: 9.8×

Monthly cashflow live

• Estimated rent: $1,018 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$46 /mo · $554/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$214
• Net cashflow: $79

Break-even live

Break-even rent $918

Max offer price $120,000

Occupancy floor 87%

Sensitivity live

Price	-10% $147	-5% $113	+0% $79	+5% $45	+10% $11
Rent	-10% $-1	-5% $39	+0% $79	+5% $119	+10% $159
Rate	-1.0pp $139	-0.5pp $109	base $79	+0.5pp $48	+1.0pp $16

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	9d	3	0.82mi
2241 W Jefferson St Kokomo, IN	2.0	1.0	605	$895	$1.48	25d	4	1.43mi

Listing history 12 events

1. 2026-06-18
   status $120,000 Pending 13 DOM
2. 2026-06-18
   days on market $120,000 Active 13 DOM
3. 2026-06-17
   days on market $120,000 Active 12 DOM
4. 2026-06-16
   days on market $120,000 Active 11 DOM
5. 2026-06-15
   days on market $120,000 Active 10 DOM
6. 2026-06-14
   days on market $120,000 Active 8 DOM
7. 2026-06-13
   days on market $120,000 Active 7 DOM
8. 2026-06-10
   days on market $120,000 Active 5 DOM
9. 2026-06-09
   days on market $120,000 Active 4 DOM
10. 2026-06-08
    days on market $120,000 Active 3 DOM
11. 2026-06-07
    remarks 699-char remark
12. 2026-06-07
    listed $120,000 Active 2 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: $554 · $46/mo
• Projected year-2 tax: $787 · $66/mo
• Expected delta: +$233/yr (+$19/mo · 42.0%)

ⓘ 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: $12,220
• − Mortgage interest: −$6,722
• − Property taxes: −$554
• − Insurance: −$600
• − Repairs & maintenance: −$978
• − Management: −$978
• − Depreciation: −$3,491
• Taxable loss: −$1,103
• Est. tax savings @ 24.0%: +$265
• After-tax cash flow: $1,212/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

+114.3% since first listed

4 events — show timeline

• 2026-06-05 Listed $120,000 IRMLS
• 2018-11-29 Sold (MLS) $56,500 MIBOR as Distributed by MLS Grid
• 2018-11-02 Listed $56,500 MIBOR as Distributed by MLS Grid
• 2000-11-08 Sold (Public Records) $56,000 Public Records

Property tax history

-4.1%/yr

Latest (2024): $554 · +15.2% YoY. Source: county tax records.