5502 Arrowhead Blvd · Kokomo, IN 46902

$107,000

3 bd · 1.0 ba · 1,512 sqft · SingleFamily public records · 54 Days on market

Built 1958 6,839 sqft lot $71/sqft · 33% below area Est $160k · 33% under ↓ 22% since listing

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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 +27.1/30.0
• ARV discount +15.0/15.0
• DSCR +9.4/10.0
• 1% rule +8.3/10.0
• 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

Bring your vision and your tools and turn this 1,500 sqft house into your home and have instant equity. The split level design features a large living room with vaulted ceilings and kitchen on the main floor. The downstairs has an equally spacious family room with separate utility and laundry room. Upstairs are the three bedrooms and full bath. The carpet has been removed to reveal wood floors throughout the entire second level. A detached garage is located behind the house.

Key facts

• Laundry room
• Large living room
• Split level design

Tags

• SPLIT LEVEL DESIGN
• LARGE LIVING ROOM
• VAULTED CEILINGS
• SPACIOUS FAMILY ROOM
• SEPARATE UTILITY ROOM
• LAUNDRY ROOM

Property features AI

Exterior

• Parking: Detached concrete 2-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); Residential property; Subdivision: Indian Heights
• Construction: Vinyl siding; Asphalt shingle roof; Above-grade finished area reported
• Exterior features: Partial fencing; Sloped lot; Lot dimensions approximately 64 x 116

Interior

• Kitchen: Electric range
• Bedrooms: 6 total rooms (bedrooms included in room count)
• Flooring: Hardwood; Concrete; Vinyl
• Bathrooms: 1 full bathroom
• Heating & cooling: Natural gas forced-air heating; Central air conditioning
• Interior features: Partially finished basement; 1 fireplace
• Laundry & utility: Laundry located on lower level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $107k.

Deal economics

• At list price, monthly cash flow is $304 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $107k).
• Recommended offer: $104k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.7% 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.
• 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 $740 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.

Negotiation context

• It's been on market 54 days — a 3% lower offer ($104k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $103,790 (3.0% below list)

Questions for the listing agent

1. It's been on market 54 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 1958 — 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: 1.33% ✓
• Cap rate: 9.70%
• Cash-on-cash: 12.17%
• DSCR: 1.54
• GRM: 6.3

CMA / ARV

• ARV (median comp): $160,395
• List price: $107,000
• Delta: -33.29%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
813 Tomahawk Blvd	0.28mi	3/1.0	1,440 (-5%)	4mo	$149,900	$104	75
5511 Arrowhead Blvd	0.06mi	4/1.5 (+1)	1,427 (-6%)	9mo	$160,000	$112	74
903 Wingra Ct	0.38mi	4/1.0 (+1)	1,530 (+1%)	2mo	$155,000	$101	73
5308 Arrowhead Blvd	0.12mi	3/1.0	1,368 (-10%)	8mo	$157,000	$115	72
704 Miami Blvd	0.17mi	3/1.0	1,320 (-13%)	0mo	$154,500	$117	70
617 Miami Blvd	0.13mi	4/2.0 (+1)	1,425 (-6%)	10mo	$180,000	$126	67
4908 Algonquin Trl	0.39mi	3/1.0	1,392 (-8%)	2mo	$149,900	$108	67
707 Springwater Rd	0.55mi	3/2.0	1,560 (+3%)	1mo	$249,900	$160	65
5503 Arrowhead Blvd	0.12mi	4/2.0 (+1)	1,700 (+12%)	4mo	$205,000	$121	62
713 Miami Blvd	0.19mi	3/2.0	1,702 (+13%)	11mo	$204,900	$120	57
3022 Highland Springs Dr	0.71mi	3/2.0	1,560 (+3%)	8mo	$199,000	$128	51
4026 Highland Springs Dr	0.64mi	3/2.0	1,420 (-6%)	11mo	$220,000	$155	47

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: 0.3%
• Equity multiple: 1.01×
• Total profit: $389
• Equity at exit: $15,954

10-year hold

• IRR: 8.7%
• Equity multiple: 1.63×
• Total profit: $18,748
• Equity at exit: $9,251

Cash invested: $29,960 (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: 6.3×

Monthly cashflow live

• Estimated rent: $1,424 medium
• Mortgage (P&I): −$561
• Tax from tax record: −$215 /mo · $2,582/yr
• Insurance: −$45
• HOA: −$0
• Vacancy / Maint / Mgmt: −$299
• Net cashflow: $304

Break-even live

Break-even rent $1,039

Max offer price $107,000

Occupancy floor 74%

Sensitivity live

Price	-10% $364	-5% $334	+0% $304	+5% $274	+10% $243
Rent	-10% $191	-5% $248	+0% $304	+5% $360	+10% $416
Rate	-1.0pp $358	-0.5pp $331	base $304	+0.5pp $276	+1.0pp $248

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: $26,750
• Closing costs: $3,210
• 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	44d	1	1.41mi

Listing history 20 events

1. 2026-06-21
   days on market $107,000 Active 54 DOM
2. 2026-06-19
   days on market $107,000 Active 52 DOM
3. 2026-06-18
   days on market $107,000 Active 51 DOM
4. 2026-06-17
   days on market $107,000 Active 50 DOM
5. 2026-06-16
   days on market $107,000 Active 49 DOM
6. 2026-06-15
   days on market $107,000 Active 48 DOM
7. 2026-06-14
   days on market $107,000 Active 46 DOM
8. 2026-06-13
   days on market $107,000 Active 45 DOM
9. 2026-06-10
   days on market $107,000 Active 43 DOM
10. 2026-06-09
    days on market $107,000 Active 42 DOM
11. 2026-06-08
    days on market $107,000 Active 41 DOM
12. 2026-06-07
    days on market $107,000 Active 40 DOM
13. 2026-06-05
    days on market $107,000 Active 37 DOM
14. 2026-06-03
    days on market $107,000 Active 36 DOM
15. 2026-06-03
    price $107,000 Active 35 DOM
16. 2026-06-02
    days on market $133,000 Active 35 DOM
17. 2026-06-01
    days on market $133,000 Active 34 DOM
18. 2026-05-31
    days on market $133,000 Active 33 DOM
19. 2026-05-30
    days on market $133,000 Active 32 DOM
20. 2026-04-27
    listed $137,000 Active 479-char remark

ⓘ 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: $2,582 · $215/mo
• Projected year-2 tax: $2,582 · $215/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 ≥101°F today · 17 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: $17,085
• − Mortgage interest: −$5,994
• − Property taxes: −$2,582
• − Insurance: −$535
• − Repairs & maintenance: −$1,367
• − Management: −$1,367
• − Depreciation: −$3,113
• Taxable income: $2,128
• Est. tax owed @ 24.0%: −$511
• After-tax cash flow: $3,136/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

-21.9% since first listed

3 events — show timeline

• 2026-06-02 Price Changed $107,000 IRMLS
• 2026-05-26 Price Changed $133,000 IRMLS
• 2026-04-27 Listed $137,000 IRMLS

Property tax history

+7.9%/yr

Latest (2024): $2,582 · +15.2% YoY. Source: county tax records.