1201 E Alto Rd · Kokomo, IN 46902

$164,900

3 bd · 1.0 ba · 1,506 sqft · SingleFamily public records · 3 Days on market

Built 1960 0.46 ac lot Est $205k · 19% under

---

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 +15.4/30.0
• ARV discount +15.0/15.0
• DSCR +4.7/10.0
• 1% rule +3.6/10.0
• Livability +3.4/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +1.8/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Come check out this 1500 sq ft 3 bedroom home with an additional 364 sq ft mother-in laws quarter which could be the 4th bedroom. This home offers a fully appliance eat-in kitchen. Spacious living room along with family room with fireplace. All this plus 2 car attached garage. Updates include paint, flooring and new septic.

Key facts

• 0.46 acre lot
• 2 garage spots
• Built 1960

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Private well water; Septic tank sewer
• Home design: Single-story, site-built single family home; Residential property
• Construction: Vinyl siding
• Exterior features: Rolling slope lot; Lot dimensions approximately 100 x 176

Interior

• Bathrooms: 1 full bathroom (main level)
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Crawl space basement; Total of 5 rooms
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $165k.

Deal economics

• At list price, monthly cash flow is $-4 ($-52/yr) — negative.
• To cash-flow at today's rent, offer at most $164k (0.5% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $142k (13.6% below list).
• Recommended offer: $142k (13.6% below list) — sets the bar for 1% rule.
• Cap rate 6.7% 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.
• Taylor Community School Corporation (rural): math 17% / reading 23% proficiency, ranked #272 of 301 in IN (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Taylor Elementary School (math 19% / reading 19%, grade F, #829 of 994 statewide, top 84%, 513 students, 78% FRL); Taylor Middle School (math 13% / reading 20%, grade F, #287 of 330 statewide, top 88%, 413 students, 76% FRL); Taylor High School (math 32% / reading 52%, grade F, #197 of 369 statewide, top 57%, 374 students, 67% FRL) — zoned schools average 74% FRL vs 45% district-wide (29 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Market conditions: Rents rising (+1.8%/yr); 235 active listings in the ZIP; 1 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 $1k of loan paydown is wiped out by about $5k 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 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 4 sale attempts since 11y 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 $103k; list at $165k implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $66/mo.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $142,397 (13.6% below list)

Questions for the listing agent

1. What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 0.86% ✗
• Cap rate: 6.75%
• Cash-on-cash: 1.62%
• DSCR: 1.07
• GRM: 9.7

CMA / ARV

• ARV (on-the-fly): $204,816
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1023 Linda Dr	0.12mi	3/2.0	1,488 (-1%)	5mo	$182,900	$123	84
3201 Alameda Blvd	0.44mi	3/1.5	1,504 (-0%)	2mo	$228,900	$152	76
3801 E Melody Ln	0.29mi	3/2.0	1,580 (+5%)	5mo	$214,900	$136	70
3812 Pamela Ct	0.31mi	3/2.0	1,560 (+4%)	7mo	$95,000	$61	70
3505 W Melody Ln	0.51mi	3/1.5	1,531 (+2%)	2mo	$195,000	$127	69
3816 Tulip Ln	0.16mi	3/2.0	1,310 (-13%)	1mo	$235,500	$180	66
3604 Candy Ln	0.40mi	3/2.0	1,418 (-6%)	3mo	$244,900	$173	66
709 Marsha Dr	0.35mi	3/2.0	1,408 (-6%)	4mo	$218,000	$155	65
707 Springwater Rd	0.63mi	3/2.0	1,560 (+4%)	1mo	$249,900	$160	60
3022 Highland Springs Dr	0.51mi	3/2.0	1,560 (+4%)	8mo	$199,000	$128	60
4908 Algonquin Trl	0.70mi	3/1.0	1,392 (-8%)	2mo	$149,900	$108	53
3601 Canyon Dr	0.44mi	3/2.0	1,695 (+12%)	4mo	$195,000	$115	51

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: -17.8%
• Equity multiple: 0.38×
• Total profit: $-28,680
• Equity at exit: $24,587

10-year hold

• IRR: -12.4%
• Equity multiple: 0.31×
• Total profit: $-32,072
• Equity at exit: $14,258

Cash invested: $46,172 (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: 9.7×

Monthly cashflow live

• Estimated rent: $1,424 medium
• Mortgage (P&I): −$865
• Tax from tax record: −$129 /mo · $1,552/yr
• Insurance: −$69
• Flood insurance flood zone: −$66 /mo · $798/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $-4

Break-even live

Break-even rent $1,429

Max offer price $164,137

Occupancy floor 95%

Sensitivity live

Price	-10% $89	-5% $42	+0% $-4	+5% $-51	+10% $-98
Rent	-10% $-117	-5% $-61	+0% $-4	+5% $52	+10% $108
Rate	-1.0pp $79	-0.5pp $38	base $-4	+0.5pp $-47	+1.0pp $-91

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: $41,225
• Closing costs: $4,947
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3515 Melody Ln E Kokomo, IN	3.0	1.5	1736	$1,650	$0.95	45d	1	0.44mi

Listing history 10 events

1. 2026-05-22
   status Pending
2. 2026-05-19
   listed $164,900 Active
3. 2018-04-13
   soldstatus $103,000 325-char remark

   Show marketing remark (325 chars)

   Come check out this 1500 sq ft 3 bedroom home with an additional 364 sq ft mother-in laws quarter which could be the 4th bedroom. This home offers a fully appliance eat-in kitchen. Spacious living room along with family room with fireplace. All this plus 2 car attached garage. Updates include paint, flooring and new septic.

4. 2018-01-29
   listed $103,000 325-char remark

   Show marketing remark (325 chars)

   Come check out this 1500 sq ft 3 bedroom home with an additional 364 sq ft mother-in laws quarter which could be the 4th bedroom. This home offers a fully appliance eat-in kitchen. Spacious living room along with family room with fireplace. All this plus 2 car attached garage. Updates include paint, flooring and new septic.

5. 2016-03-08
   soldstatus $40,303
6. 2016-02-23
   soldstatus $40,303 274-char remark

   Show marketing remark (274 chars)

   So much potential in this spacious 3 bedroom, 1 bath ranch! Never run out of room in the large eat in kitchen. Save on heating costs with the wood burning stove in the family room. Huge backyard is great for backyard bbqs and has 2 storage sheds! Convenient in law quarters!

7. 2016-02-23
   soldstatus $40,303

   Show marketing remark (274 chars)

   So much potential in this spacious 3 bedroom, 1 bath ranch! Never run out of room in the large eat in kitchen. Save on heating costs with the wood burning stove in the family room. Huge backyard is great for backyard bbqs and has 2 storage sheds! Convenient in law quarters!

8. 2015-09-01
   listed $39,900 274-char remark

   Show marketing remark (274 chars)

   So much potential in this spacious 3 bedroom, 1 bath ranch! Never run out of room in the large eat in kitchen. Save on heating costs with the wood burning stove in the family room. Huge backyard is great for backyard bbqs and has 2 storage sheds! Convenient in law quarters!

9. 2015-08-28
   listed $39,900
10. 1999-08-12
    soldstatus $118,500

ⓘ 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: $1,552 · $129/mo
• Projected year-2 tax: $1,552 · $129/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 7/10 Severe FEMA zone X (unshaded) · 76% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥101°F today · 16 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 0% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 2 unhealthy d/yr today · 4 by 30 yrs out

Taxation est. · year 1

• Rental income: $17,088
• − Mortgage interest: −$9,237
• − Property taxes: −$1,552
• − Insurance: −$1,622
• − Repairs & maintenance: −$1,367
• − Management: −$1,367
• − Depreciation: −$4,797
• Taxable loss: −$2,854
• Est. tax savings @ 24.0%: +$685
• After-tax cash flow: $633/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: Taylor Community School Corporation
• NCES district ID: 1811250
• Math proficiency: 17% ▼ -10.00%
• Reading proficiency: 23% ▼ -9.00%
• Median HH income: $52,382
• Composite: 18.12/100
• National rank: #8969
• State rank: #272 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

+39.2% since first listed

10 events — show timeline

• 2026-05-22 Pending — IRMLS
• 2026-05-19 Listed $164,900 IRMLS
• 2018-04-13 Sold (MLS) $103,000 IRMLS
• 2018-01-29 Listed $103,000 IRMLS
• 2016-03-08 Sold (Public Records) $40,303 Public Records
• 2016-02-23 Sold (MLS) $40,303 MIBOR as Distributed by MLS Grid
• 2016-02-23 Sold (MLS) $40,303 IRMLS
• 2015-09-01 Listed $39,900 IRMLS
• 2015-08-28 Listed $39,900 MIBOR as Distributed by MLS Grid
• 1999-08-12 Sold (Public Records) $118,500 Public Records

Property tax history

-1.4%/yr

Latest (2024): $1,552 · +2.0% YoY. Source: county tax records.