1107 E Mulberry St · Kokomo, IN 46901

$140,000

3 bd · 1.0 ba · 960 sqft · SingleFamily public records · 71 Days on market

Built 1919 4,617 sqft lot Est $105k · 34% 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 +17.9/30.0
• DSCR +5.6/10.0
• 1% rule +3.7/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +2.1/5.0
• Schools +2.1/10.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 3-bed 1-bath fixer upper will make the perfect addition to your investment portfolio. Conveniently located near downtown Kokomo, there is so much potential with this property for a great price! This is also being offered as a package with 1031 S Cooper St and 1029 E North St for $92,500.

Key facts

• New drywall
• New flooring
• Gourmet kitchen

Tags

• NEW DRYWALL
• NEW FLOORING
• UPDATED DOORS
• MODERN LIGHTING FIXTURES
• GOURMET KITCHEN
• NEW CABINETS

Property features AI

Exterior

• Security: Fire alarm
• Utilities: Public water; Municipal sewer connected
• Home design: Single-family residence; One story
• Construction: Vinyl siding; Block foundation
• Exterior features: Lot under 1/4 acre (approx. 0.11 acre)

Interior

• Kitchen: Refrigerator; Dishwasher; Range hood
• Bedrooms: 3 bedrooms on the main level
• Flooring: Luxury vinyl plank flooring throughout main rooms
• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Electric forced air heating; Central air conditioning
• Interior features: Attic access; Unfinished basement
• Laundry & utility: Dedicated laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $118 ($1k/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 $122k (13.1% below list).
• Recommended offer: $122k (13.1% below list) — sets the bar for 1% rule.
• Cap rate 7.3% 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, schools F, amenities 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.
• Market conditions: Rents soft (-1.5%/yr); 246 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 $968 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

• It's been on market 71 days — a 6% lower offer ($132k) 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 $29k; list at $140k implies a 384% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1919 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $121,599 (13.1% below list)

Questions for the listing agent

1. It's been on market 71 days. Have you received any prior offers? Is the seller open to a 13% concession, seller financing, or rate buy-down credit?
2. Built in 1919 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
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. 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?
8. 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.
9. 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.
10. 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: 0.87% ✗
• Cap rate: 7.31%
• Cash-on-cash: 3.62%
• DSCR: 1.16
• GRM: 9.6

CMA / ARV

• ARV (on-the-fly): $104,640
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
900 E Superior St	0.25mi	2/1.0 (-1)	976 (+2%)	4mo	$27,500	$28	77
1145 E Walnut St	0.08mi	2/1.0 (-1)	1,040 (+8%)	2mo	$72,000	$69	76
1100 E Taylor St	0.10mi	2/1.0 (-1)	882 (-8%)	2mo	$53,000	$60	75
412 N Calumet St	0.32mi	3/2.0	1,008 (+5%)	0mo	$40,000	$40	72
1142 E Jefferson St	0.21mi	2/1.0 (-1)	910 (-5%)	6mo	$119,900	$132	71
1001 E Broadway St	0.56mi	3/1.0	952 (-1%)	6mo	$90,000	$95	67
410 N Jay St	0.25mi	3/1.0	818 (-15%)	8mo	$87,000	$106	57
728 E Broadway St	0.63mi	2/1.0 (-1)	936 (-2%)	7mo	$110,000	$118	56
723 E North St	0.72mi	2/1.0 (-1)	964 (+0%)	6mo	$105,000	$109	56
123 S Calumet St	0.31mi	2/1.0 (-1)	836 (-13%)	7mo	$100,000	$120	54
701 S Jay St	0.63mi	3/1.0	1,052 (+10%)	3mo	$140,000	$133	52
916 E Dixon St	0.66mi	3/1.0	1,040 (+8%)	4mo	$125,000	$120	52

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: -13.7%
• Equity multiple: 0.52×
• Total profit: $-18,774
• Equity at exit: $20,874

10-year hold

• IRR: -9.8%
• Equity multiple: 0.47×
• Total profit: $-20,657
• Equity at exit: $12,105

Cash invested: $39,200 (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: 9.6×

Monthly cashflow live

• Estimated rent: $1,216 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$50 /mo · $598/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$255
• Net cashflow: $118

Break-even live

Break-even rent $1,066

Max offer price $140,000

Occupancy floor 85%

Sensitivity live

Price	-10% $198	-5% $158	+0% $118	+5% $79	+10% $39
Rent	-10% $22	-5% $70	+0% $118	+5% $166	+10% $214
Rate	-1.0pp $189	-0.5pp $154	base $118	+0.5pp $82	+1.0pp $45

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: $35,000
• Closing costs: $4,200
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-21
   days on market $140,000 Active 71 DOM
2. 2026-06-19
   days on market $140,000 Active 69 DOM
3. 2026-06-18
   days on market $140,000 Active 68 DOM
4. 2026-06-17
   days on market $140,000 Active 67 DOM
5. 2026-06-16
   days on market $140,000 Active 66 DOM
6. 2026-06-15
   days on market $140,000 Active 65 DOM
7. 2026-06-14
   days on market $140,000 Active 63 DOM
8. 2026-06-13
   days on market $140,000 Active 62 DOM
9. 2026-06-10
   days on market $140,000 Active 60 DOM
10. 2026-06-09
    days on market $140,000 Active 59 DOM
11. 2026-06-08
    days on market $140,000 Active 58 DOM
12. 2026-06-07
    days on market $140,000 Active 57 DOM
13. 2026-06-02
    days on market $140,000 Active 52 DOM
14. 2026-06-01
    days on market $140,000 Active 51 DOM
15. 2026-05-31
    days on market $140,000 Active 50 DOM
16. 2026-05-30
    days on market $140,000 Active 49 DOM
17. 2026-04-11
    listed $140,000 Active
18. 2024-03-01
    price $28,900 294-char remark

    Show marketing remark (294 chars)

    This 3-bed 1-bath fixer upper will make the perfect addition to your investment portfolio. Conveniently located near downtown Kokomo, there is so much potential with this property for a great price! This is also being offered as a package with 1031 S Cooper St and 1029 E North St for $92,500.

19. 2024-03-01
    soldstatus $28,900 Closed 294-char remark

    Show marketing remark (294 chars)

    This 3-bed 1-bath fixer upper will make the perfect addition to your investment portfolio. Conveniently located near downtown Kokomo, there is so much potential with this property for a great price! This is also being offered as a package with 1031 S Cooper St and 1029 E North St for $92,500.

20. 2024-02-19
    historical Active Under Contract 294-char remark

    Show marketing remark (294 chars)

    This 3-bed 1-bath fixer upper will make the perfect addition to your investment portfolio. Conveniently located near downtown Kokomo, there is so much potential with this property for a great price! This is also being offered as a package with 1031 S Cooper St and 1029 E North St for $92,500.

21. 2024-02-14
    listed $29,900 Active 294-char remark

    Show marketing remark (294 chars)

    This 3-bed 1-bath fixer upper will make the perfect addition to your investment portfolio. Conveniently located near downtown Kokomo, there is so much potential with this property for a great price! This is also being offered as a package with 1031 S Cooper St and 1029 E North St for $92,500.

ⓘ 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: $598 · $50/mo
• Projected year-2 tax: $894 · $74/mo
• Expected delta: +$296/yr (+$25/mo · 49.5%)

ⓘ 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: $14,592
• − Mortgage interest: −$7,842
• − Property taxes: −$598
• − Insurance: −$700
• − Repairs & maintenance: −$1,167
• − Management: −$1,167
• − Depreciation: −$4,073
• Taxable loss: −$956
• Est. tax savings @ 24.0%: +$229
• After-tax cash flow: $1,649/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

+368.2% since first listed

5 events — show timeline

• 2026-04-11 Listed $140,000 MIBOR as Distributed by MLS Grid
• 2024-03-01 Price Changed $28,900 IRMLS
• 2024-03-01 Sold (MLS) $28,900 IRMLS
• 2024-02-19 Contingent — IRMLS
• 2024-02-14 Listed $29,900 IRMLS

Property tax history

+4.4%/yr

Latest (2024): $598 · +19.8% YoY. Source: county tax records.