714 N Union St · Kokomo, IN 46901

$145,000

3 bd · 2.0 ba · 2,016 sqft · MultiFamily public records · 357 Days on market

Built 1885 7,667 sqft lot Est $99k · 47% over

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 2 units. confirmed

Listing remarks MLS

2 UNIT INVESTMENT PROPERTY CONSISTING OF OVER 2,000 SQ FT AND BOTH UNITS ARE CURRENTLY RENTED. THE DOWNSTAIRS CONSISTS OF THREE BEDROOMS, ONE BATH, UTILITY ROOM WITH WASHER AND DRYER HOOK-UP. UPSTAIRS IS ANOTHER THREE BEDROOM, ONE BATH, AND UTILITY ROOM WITH WASHER AND DRYER HOOK-UP.

Key facts

• New cement pads
• Common area fire pit
• New stairs

Tags

• COMMON AREA FIRE PIT
• NEW CEMENT PADS
• NEW STAIRS
• LOCAL SHOPPING

Property features AI

Finance

• Financial info: Two-unit property; Reported gross income: 0; Reported expenses: 0

Exterior

• Parking: On-street parking
• Utilities: No solid waste information listed
• Home design: Residential income property (Duplex)
• Exterior features: Residential use; Less than 1/4 acre lot (approximately 0.18 acre); Road access not applicable

Interior

• Kitchen: Kitchen in each unit
• Bedrooms: Each unit is single-level (1 level per unit)
• Interior features: Two levels
• Laundry & utility: Shared laundry room

What this means for you Summary

Snapshot

• This is a 2 × 3-bed/1.5-bath units multifamily listed at $145k.

Deal economics

• At list price, monthly cash flow is $963 ($12k/yr) — positive. Per door: $482/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $145k).
• Recommended offer: $128k (12.0% below list) — sets the bar for market timing.
• Cap rate 14.3% 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).
• At $2,372/mo this rent would consume 47% of the median local household income ($60k/yr) (locally 1116% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $1k 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.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $41k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 357 days — a 12% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 8y ago; this cycle's ask has dropped $95k (40%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $109k; 33% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1885 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $127,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 357 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1885 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. 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?
8. 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?
9. 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.
10. 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.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.64% ✓
• Cap rate: 14.26%
• Cash-on-cash: 28.47%
• DSCR: 2.27
• GRM: 5.1

CMA / ARV

• ARV (on-the-fly): $98,784
• Comps found: 2

Show comp detail 2 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
508-510 W Lordeman St	0.75mi	4/2.0 (+1)	2,024 (+0%)	4mo	$100,000	$49	56
418 & 420 W Park Ave	0.70mi	4/2.0 (+1)	1,850 (-8%)	8mo	$42,000	$23	42

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: 19.4%
• Equity multiple: 1.76×
• Total profit: $30,881
• Equity at exit: $21,620

10-year hold

• IRR: 25.7%
• Equity multiple: 2.94×
• Total profit: $78,940
• Equity at exit: $12,537

Cash invested: $40,600 (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 46901

• Home prices YoY: -24.4%
• Rents YoY: -1.5%
• Active inventory: 242
• Price-to-rent: 10.2×

Monthly cashflow live

• Estimated rent: $2,372 medium
• Mortgage (P&I): −$760
• Tax from tax record: −$90 /mo · $1,078/yr
• Insurance: −$60
• HOA: −$0
• Vacancy / Maint / Mgmt: −$498
• Net cashflow: $963

Break-even live

Break-even rent $1,153

Max offer price $145,000

Occupancy floor 54%

Sensitivity live

Price	-10% $1,045	-5% $1,004	+0% $963	+5% $922	+10% $881
Rent	-10% $776	-5% $870	+0% $963	+5% $1,057	+10% $1,151
Rate	-1.0pp $1,036	-0.5pp $1,000	base $963	+0.5pp $926	+1.0pp $887

2-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	3	1.5	$2,372
Total (2 units)			$2,372

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: $36,250
• Closing costs: $4,350
• Reserves months: —
• Total cash needed: —

Listing history 35 events

1. 2026-06-19
   days on market $145,000 Active 357 DOM
2. 2026-06-18
   days on market $145,000 Active 356 DOM
3. 2026-06-17
   days on market $145,000 Active 355 DOM
4. 2026-06-16
   days on market $145,000 Active 354 DOM
5. 2026-06-15
   days on market $145,000 Active 353 DOM
6. 2026-06-14
   days on market $145,000 Active 351 DOM
7. 2026-06-13
   days on market $145,000 Active 350 DOM
8. 2026-06-10
   days on market $145,000 Active 348 DOM
9. 2026-06-09
   days on market $145,000 Active 347 DOM
10. 2026-06-08
    days on market $145,000 Active 346 DOM
11. 2026-06-07
    days on market $145,000 Active 345 DOM
12. 2026-06-02
    days on market $145,000 Active 340 DOM
13. 2026-06-01
    days on market $145,000 Active 339 DOM
14. 2026-05-31
    days on market $145,000 Active 338 DOM
15. 2026-05-30
    days on market $145,000 Active 337 DOM
16. 2026-05-04
    status Active
17. 2026-04-30
    historical
18. 2026-04-29
    price $145,000
19. 2026-03-17
    price $178,000
20. 2026-01-21
    price $180,000
21. 2026-01-21
    status Active
22. 2026-01-11
    historical
23. 2025-12-11
    status Active
24. 2025-12-11
    price $185,000
25. 2025-12-07
    historical
26. 2025-10-02
    price $199,999
27. 2025-09-03
    price $207,000
28. 2025-08-16
    price $215,000
29. 2025-07-25
    price $228,500
30. 2025-07-08
    price $232,900
31. 2025-06-10
    listed $240,000 Active
32. 2022-03-03
    soldstatus $109,000 284-char remark

    Show marketing remark (284 chars)

    2 UNIT INVESTMENT PROPERTY CONSISTING OF OVER 2,000 SQ FT AND BOTH UNITS ARE CURRENTLY RENTED. THE DOWNSTAIRS CONSISTS OF THREE BEDROOMS, ONE BATH, UTILITY ROOM WITH WASHER AND DRYER HOOK-UP. UPSTAIRS IS ANOTHER THREE BEDROOM, ONE BATH, AND UTILITY ROOM WITH WASHER AND DRYER HOOK-UP.

33. 2021-12-07
    listed $135,000 284-char remark

    Show marketing remark (284 chars)

    2 UNIT INVESTMENT PROPERTY CONSISTING OF OVER 2,000 SQ FT AND BOTH UNITS ARE CURRENTLY RENTED. THE DOWNSTAIRS CONSISTS OF THREE BEDROOMS, ONE BATH, UTILITY ROOM WITH WASHER AND DRYER HOOK-UP. UPSTAIRS IS ANOTHER THREE BEDROOM, ONE BATH, AND UTILITY ROOM WITH WASHER AND DRYER HOOK-UP.

34. 2018-09-14
    soldstatus $69,900 164-char remark

    Show marketing remark (164 chars)

    Duplex. Both units are 3 bedroom, 1 bath and 1010 sq ft with $600 monthly rent. Tenants pay all utilities. Many updates include roof, furnace, flooring and windows.

35. 2018-06-29
    listed $69,900 164-char remark

    Show marketing remark (164 chars)

    Duplex. Both units are 3 bedroom, 1 bath and 1010 sq ft with $600 monthly rent. Tenants pay all utilities. Many updates include roof, furnace, flooring and windows.

ⓘ 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: $1,078 · $90/mo
• Projected year-2 tax: $1,155 · $96/mo
• Expected delta: +$77/yr (+$6/mo · 7.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 22% 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: $28,464
• − Mortgage interest: −$8,122
• − Property taxes: −$1,078
• − Insurance: −$725
• − Repairs & maintenance: −$2,277
• − Management: −$2,277
• − Depreciation: −$4,218
• Taxable income: $9,766
• Est. tax owed @ 24.0%: −$2,344
• After-tax cash flow: $9,215/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

+107.4% since first listed

20 events — show timeline

• 2026-05-04 Relisted — MIBOR as Distributed by MLS Grid
• 2026-04-30 Listing Removed — MIBOR as Distributed by MLS Grid
• 2026-04-29 Price Changed $145,000 MIBOR as Distributed by MLS Grid
• 2026-03-17 Price Changed $178,000 MIBOR as Distributed by MLS Grid
• 2026-01-21 Price Changed $180,000 MIBOR as Distributed by MLS Grid
• 2026-01-21 Relisted — MIBOR as Distributed by MLS Grid
• 2026-01-11 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-12-11 Relisted — MIBOR as Distributed by MLS Grid
• 2025-12-11 Price Changed $185,000 MIBOR as Distributed by MLS Grid
• 2025-12-07 Listing Removed — MIBOR as Distributed by MLS Grid
• 2025-10-02 Price Changed $199,999 MIBOR as Distributed by MLS Grid
• 2025-09-03 Price Changed $207,000 MIBOR as Distributed by MLS Grid
• 2025-08-16 Price Changed $215,000 MIBOR as Distributed by MLS Grid
• 2025-07-25 Price Changed $228,500 MIBOR as Distributed by MLS Grid
• 2025-07-08 Price Changed $232,900 MIBOR as Distributed by MLS Grid
• 2025-06-10 Listed $240,000 MIBOR as Distributed by MLS Grid
• 2022-03-03 Sold (MLS) $109,000 IRMLS
• 2021-12-07 Listed $135,000 IRMLS
• 2018-09-14 Sold (MLS) $69,900 IRMLS
• 2018-06-29 Listed $69,900 IRMLS

Property tax history

+3.7%/yr

Latest (2024): $1,078 · +14.9% YoY. Source: county tax records.