625 S Courtland Ave · Kokomo, IN 46901

$78,000

3 bd · 2.0 ba · 1,504 sqft · SingleFamily public records · 58 Days on market

Built 1889 6,534 sqft lot

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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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• 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 MLS

Great investment opportunity! 3 BR, 2 BA, 1504 sq. ft. in a cute neighborhood waiting for your TLC. At this price, you really can't go wrong!

Key facts

• Practical floor plan
• Spacious rooms
• Functional layout

Tags

• INVESTMENT OPPORTUNITY
• FUNCTIONAL LAYOUT
• SPACIOUS ROOMS
• PRACTICAL FLOOR PLAN
• CONVENIENTLY LOCATED
• LOCAL AMENITIES

Property features AI

Exterior

• Utilities: Public water; Municipal sewer connected
• Home design: Single-family residence; One story
• Construction: Wood siding exterior; Partial foundation
• Exterior features: Less than 1/4 acre lot (about 0.15 acres)

Interior

• Kitchen: No appliances listed
• Bedrooms: Three bedrooms on the main level; One bonus room on the upper level
• Flooring: Hardwood floors
• Bathrooms: Two full bathrooms (both on main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Attic access; Hardwood floors; Basement (partial)
• Laundry & utility: No laundry appliances listed

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $78k.

Deal economics

• At list price, monthly cash flow is $495 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $78k).
• Recommended offer: $76k (3.0% below list) — sets the bar for market timing.
• Cap rate 13.9% 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, 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); 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 $539 of loan paydown is wiped out by about $2k 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 $22k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 58 days — a 3% lower offer ($76k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 12y ago; this cycle's ask has dropped $10k (11%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $19k; list at $78k implies a 311% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1889 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,660 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 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 1889 — 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: 1.72% ✓
• Cap rate: 13.90%
• Cash-on-cash: 27.17%
• DSCR: 2.21
• GRM: 4.8

CMA / ARV

• ARV (on-the-fly): $157,920
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
614 S Courtland Ave	0.04mi	3/1.0	1,368 (-9%)	1mo	$117,000	$86	79
1110 S Courtland St	0.43mi	3/1.5	1,458 (-3%)	1mo	$170,000	$117	72
803 S Webster St	0.14mi	3/2.0	1,296 (-14%)	1mo	$57,000	$44	69
1212 W Carter St	0.41mi	2/2.0 (-1)	1,440 (-4%)	1mo	$167,500	$116	68
634 S Union St	0.45mi	3/1.5	1,350 (-10%)	1mo	$75,000	$56	59
1335 S Buckeye St	0.72mi	3/3.0	1,454 (-3%)	1mo	$173,000	$119	56
915 W Walnut St	0.49mi	3/2.0	1,716 (+14%)	3mo	$180,000	$105	51
703 S Apperson Way	0.57mi	2/2.0 (-1)	1,328 (-12%)	1mo	$115,000	$87	48
724 S Apperson Way	0.61mi	3/2.0	1,300 (-14%)	4mo	$179,900	$138	46
1017 W Taylor St	0.64mi	3/2.0	1,722 (+14%)	5mo	$215,000	$125	42
1424 S Courtland Ave	0.70mi	4/1.0 (+1)	1,656 (+10%)	4mo	$105,000	$63	38
511 E Harrison St	0.63mi	2/1.0 (-1)	1,284 (-15%)	3mo	$78,500	$61	34

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: 17.6%
• Equity multiple: 1.69×
• Total profit: $14,966
• Equity at exit: $11,630

10-year hold

• IRR: 23.8%
• Equity multiple: 2.77×
• Total profit: $38,549
• Equity at exit: $6,744

Cash invested: $21,840 (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: 4.8×

Monthly cashflow live

• Estimated rent: $1,341 medium
• Mortgage (P&I): −$409
• Tax from tax record: −$124 /mo · $1,482/yr
• Insurance: −$32
• HOA: −$0
• Vacancy / Maint / Mgmt: −$282
• Net cashflow: $495

Break-even live

Break-even rent $715

Max offer price $78,000

Occupancy floor 58%

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: $19,500
• Closing costs: $2,340
• Reserves months: —
• Total cash needed: —

Listing history 6 events

1. 2026-04-13
   price $78,000
2. 2026-03-26
   listed $87,500 Active
3. 2014-09-12
   soldstatus $19,000
4. 2014-07-03
   soldstatus $9,500 141-char remark

   Show marketing remark (141 chars)

   Great investment opportunity! 3 BR, 2 BA, 1504 sq. ft. in a cute neighborhood waiting for your TLC. At this price, you really can't go wrong!

5. 2014-06-23
   listed $10,000 141-char remark

   Show marketing remark (141 chars)

   Great investment opportunity! 3 BR, 2 BA, 1504 sq. ft. in a cute neighborhood waiting for your TLC. At this price, you really can't go wrong!

6. 2013-04-15
   soldstatus $36,900

ⓘ 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: $1,482 · $124/mo
• Projected year-2 tax: $1,482 · $124/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: $16,095
• − Mortgage interest: −$4,369
• − Property taxes: −$1,482
• − Insurance: −$390
• − Repairs & maintenance: −$1,288
• − Management: −$1,288
• − Depreciation: −$2,269
• Taxable income: $5,010
• Est. tax owed @ 24.0%: −$1,202
• After-tax cash flow: $4,732/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

+111.4% since first listed

6 events — show timeline

• 2026-04-13 Price Changed $78,000 MIBOR as Distributed by MLS Grid
• 2026-03-26 Listed $87,500 MIBOR as Distributed by MLS Grid
• 2014-09-12 Sold (Public Records) $19,000 Public Records
• 2014-07-03 Sold (MLS) $9,500 IRMLS
• 2014-06-23 Listed $10,000 IRMLS
• 2013-04-15 Sold (Public Records) $36,900 Public Records

Property tax history

+15.8%/yr

Latest (2024): $1,482 · +218.5% YoY. Source: county tax records.