2225 N Lafountain St · Kokomo, IN 46901

$105,000

3 bd · 2.5 ba · 1,648 sqft · SingleFamily public records · 55 Days on market

Built 1964 8,276 sqft lot Est $140k · 25% 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
• DSCR +10.0/10.0
• 1% rule +7.6/10.0
• 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

Discover this charming residence at 2225 N Lafountain St, Kokomo, IN. Featuring a cozy layout, the home boasts a welcoming living area, a well-appointed kitchen, and comfortable bedrooms. The property includes a spacious yard, appropriate for outdoor activities and relaxation. Conveniently situated in a desirable neighborhood, it has easy access to local amenities and schools. Experience the comfort and convenience this home has!

Key facts

• Spacious yard
• 8,276 sq ft lot
• 3 garage spots

Tags

• SPACIOUS YARD
• WELCOMING LIVING AREA
• WELL-APPOINTED KITCHEN
• DESIRABLE NEIGHBORHOOD
• EASY ACCESS TO LOCAL AMENITIES

Property features AI

Exterior

• Parking: Detached 3-car garage (approx. 720 sq ft)
• Utilities: Public water; Municipal sewer connected
• Home design: Single family residence; One-level (single story)
• Construction: Vinyl siding and wood siding; Other exterior materials; Crawl space foundation
• Exterior features: Approximately 0.19-acre lot

Interior

• Kitchen: Eat-in kitchen; Includes other appliances
• Bedrooms: 3 bedrooms (all on the main level)
• Bathrooms: 2 full bathrooms; 1 half bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Eat-in kitchen; Living room with fireplace
• Laundry & utility: Main-level laundry room

What this means for you Summary

Snapshot

• This is a 3-bed/2.5-bath single-family listed at $105k.

Deal economics

• At list price, monthly cash flow is $401 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $105k).
• Recommended offer: $102k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.9% 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, 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); 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 $726 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 $29k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 55 days — a 3% lower offer ($102k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $68k; list at $105k implies a 55% gain — meaningful room to come down on a strong offer.

Recommended offer $101,850 (3.0% below list)

Questions for the listing agent

1. It's been on market 55 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1964 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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?
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: 1.26% ✓
• Cap rate: 10.88%
• Cash-on-cash: 16.38%
• DSCR: 1.73
• GRM: 6.6

CMA / ARV

• ARV (on-the-fly): $140,080
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
2225 N Lafountain St	0.00mi	3/2.5	1,648 (0%)	0mo	$95,000	$58	100
2329 N Delphos St	0.51mi	3/2.0	1,693 (+3%)	4mo	$159,900	$94	67
131 W Lordeman St	0.49mi	3/2.0	1,734 (+5%)	0mo	$95,000	$55	66
915 E Morgan St	0.44mi	3/2.0	1,520 (-8%)	2mo	$164,900	$108	63
1618 N Lafountain St	0.45mi	3/1.0	1,568 (-5%)	8mo	$40,000	$26	58
2305 N Armstrong St	0.35mi	4/1.5 (+1)	1,762 (+7%)	9mo	$145,260	$82	55
1810 N Market St	0.35mi	3/1.0	1,400 (-15%)	0mo	$115,000	$82	53
918 E Morgan St	0.44mi	4/2.0 (+1)	1,484 (-10%)	11mo	$145,000	$98	47
1405 N Purdum St	0.64mi	3/2.0	1,440 (-13%)	0mo	$123,000	$85	47
3015 N Washington St	0.71mi	3/2.0	1,736 (+5%)	11mo	$290,000	$167	47
2300 N Ohio St	0.61mi	3/2.0	1,400 (-15%)	10mo	$180,000	$129	36
1600 N Washington St	0.56mi	2/1.0 (-1)	1,470 (-11%)	11mo	$113,300	$77	36

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: 4.2%
• Equity multiple: 1.16×
• Total profit: $4,625
• Equity at exit: $15,656

10-year hold

• IRR: 10.9%
• Equity multiple: 1.74×
• Total profit: $21,804
• Equity at exit: $9,078

Cash invested: $29,400 (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 46901

• Home prices YoY: -24.4%
• Rents YoY: -1.5%
• Active inventory: 242
• Price-to-rent: 6.6×

Monthly cashflow live

• Estimated rent: $1,325 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$51 /mo · $616/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$278
• Net cashflow: $401

Break-even live

Break-even rent $817

Max offer price $105,000

Occupancy floor 65%

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: $26,250
• Closing costs: $3,150
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-05-01
   status Pending
2. 2026-04-27
   price $105,000
3. 2026-04-21
   price $125,000
4. 2026-04-16
   price $145,000
5. 2026-03-06
   listed $150,000 Active
6. 2001-09-28
   soldstatus $67,900

ⓘ 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: $616 · $51/mo
• Projected year-2 tax: $754 · $63/mo
• Expected delta: +$138/yr (+$12/mo · 22.5%)

ⓘ 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: $15,902
• − Mortgage interest: −$5,882
• − Property taxes: −$616
• − Insurance: −$525
• − Repairs & maintenance: −$1,272
• − Management: −$1,272
• − Depreciation: −$3,055
• Taxable income: $3,281
• Est. tax owed @ 24.0%: −$787
• After-tax cash flow: $4,027/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

+54.6% since first listed

6 events — show timeline

• 2026-05-01 Pending — MIBOR as Distributed by MLS Grid
• 2026-04-27 Price Changed $105,000 MIBOR as Distributed by MLS Grid
• 2026-04-21 Price Changed $125,000 MIBOR as Distributed by MLS Grid
• 2026-04-16 Price Changed $145,000 MIBOR as Distributed by MLS Grid
• 2026-03-06 Listed $150,000 MIBOR as Distributed by MLS Grid
• 2001-09-28 Sold (Public Records) $67,900 Public Records

Property tax history

+18.6%/yr

Latest (2024): $616 · +86.1% YoY. Source: county tax records.