1524 S Main St · Kokomo, IN 46902

$124,900

2 bd · 1.0 ba · 1,176 sqft · SingleFamily public records · 12 Days on market

Built 1910 6,621 sqft lot Est $143k · 13% under

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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 +16.3/30.0
• ARV discount +13.3/15.0
• DSCR +5.0/10.0
• 1% rule +3.8/10.0
• Livability +3.4/5.0
• Rent growth +3.0/5.0
• Condition / age +2.5/5.0
• Schools +2.1/10.0
• Appreciation +0.0/10.0

Listing remarks

Nestled on Main Street in South Kokomo, this charming three-bedroom, two-bath bungalow blends classic appeal with modern comfort. Featuring a cozy front porch perfect for relaxing evenings, the home offers a warm, inviting living area, a well-appointed kitchen with ample cabinetry, and a spacious dining room. The primary suite includes a private bath, while the two additional bedrooms offer flexibility for family, guests, or a home office. Outside, enjoy a fenced backyard, a detached garage, and easy access to local amenities. This bungalow is ready to welcome you home! Roof 2 1/2 years old, hot water heater around 5 years old.

Key facts

• Front porch
• Spacious dining nook
• Fenced backyard

Tags

• FRONT PORCH
• FENCED BACKYARD
• DETACHED GARAGE
• WELL-APPOINTED KITCHEN
• SPACIOUS DINING NOOK

Property features AI

Exterior

• Parking: Detached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single-family, site-built home; One story
• Construction: Vinyl siding; Block foundation
• Exterior features: Shingle roof

Interior

• Kitchen: Includes dishwasher, microwave, refrigerator and gas range
• Bedrooms: Total of 7 rooms (bedroom count not specified)
• Bathrooms: Two full bathrooms, both on the main level
• Heating & cooling: Natural gas forced-air heating; Has cooling (type listed as Other)
• Interior features: Dishwasher, Microwave, Refrigerator, Gas Range; One fireplace; Unfinished partial crawl space basement
• Laundry & utility: Laundry on the main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $125k.

Deal economics

• At list price, monthly cash flow is $69 ($825/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $110k (11.5% below list).
• Recommended offer: $110k (11.5% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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: Boulevard Elementary School (math 32% / reading 17%, grade F, #762 of 994 statewide, top 78%, 378 students, 57% FRL); Maple Crest Middle School (math 10% / reading 16%, grade F, #304 of 330 statewide, top 94%, 372 students, 77% FRL); Kokomo High School (math 19% / reading 48%, grade F, #289 of 369 statewide, top 78%, 1,519 students, 58% FRL) — zoned schools at 64% FRL track the district average.
• 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 $864 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.

Negotiation context

• Only 12 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $65k; list at $125k implies a 92% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,478 (11.5% below list)

Questions for the listing agent

1. Built in 1910 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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?
5. 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?
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: 0.88% ✗
• Cap rate: 6.95%
• Cash-on-cash: 2.36%
• DSCR: 1.10
• GRM: 9.4

CMA / ARV

• ARV (on-the-fly): $143,472
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1704 S Buckeye St	0.14mi	3/1.0 (+1)	1,200 (+2%)	2mo	$140,000	$117	83
311 W Woodland Ave	0.23mi	2/1.0	1,088 (-8%)	2mo	$112,400	$103	75
1822 S Union St	0.25mi	2/1.0	1,052 (-10%)	3mo	$170,000	$162	68
1811 S Lafountain St	0.28mi	2/1.0	1,040 (-12%)	1mo	$155,000	$149	67
412 E Poplar St	0.42mi	3/2.0 (+1)	1,150 (-2%)	3mo	$195,000	$170	65
1229 S Armstrong St	0.36mi	2/2.0	1,080 (-8%)	1mo	$126,000	$117	65
1905 S Lafountain St	0.35mi	2/1.0	1,051 (-11%)	2mo	$135,000	$128	64
1800 S Main St	0.20mi	3/1.0 (+1)	1,330 (+13%)	2mo	$163,500	$123	63
1104 S Courtland Ave	0.53mi	3/2.0 (+1)	1,234 (+5%)	0mo	$150,000	$122	58
904 S Bell St	0.67mi	3/1.0 (+1)	1,136 (-3%)	2mo	$120,000	$106	56
511 E Harrison St	0.70mi	2/1.0	1,284 (+9%)	3mo	$78,500	$61	49
1105 S Jay St	0.57mi	3/1.0 (+1)	1,040 (-12%)	3mo	$65,000	$63	46

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: -13.9%
• Equity multiple: 0.51×
• Total profit: $-17,199
• Equity at exit: $18,623

10-year hold

• IRR: -6.9%
• Equity multiple: 0.58×
• Total profit: $-14,698
• Equity at exit: $10,799

Cash invested: $34,972 (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: 9.4×

Monthly cashflow live

• Estimated rent: $1,105 medium
• Mortgage (P&I): −$655
• Tax from tax record: −$97 /mo · $1,164/yr
• Insurance: −$52
• HOA: −$0
• Vacancy / Maint / Mgmt: −$232
• Net cashflow: $69

Break-even live

Break-even rent $1,018

Max offer price $124,900

Occupancy floor 89%

Sensitivity live

Price	-10% $139	-5% $104	+0% $69	+5% $33	+10% $-2
Rent	-10% $-19	-5% $25	+0% $69	+5% $112	+10% $156
Rate	-1.0pp $132	-0.5pp $101	base $69	+0.5pp $36	+1.0pp $3

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: $31,225
• Closing costs: $3,747
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1901 S Park Rd Kokomo, IN	2.0	1.0	750	$1,025	$1.37	8d	3	0.94mi

Listing history 11 events

1. 2026-06-21
   days on market $124,900 Active 12 DOM
2. 2026-06-19
   days on market $124,900 Active 10 DOM
3. 2026-06-18
   days on market $124,900 Active 9 DOM
4. 2026-06-17
   days on market $124,900 Active 8 DOM
5. 2026-06-16
   days on market $124,900 Active 7 DOM
6. 2026-06-15
   days on market $124,900 Active 6 DOM
7. 2026-06-14
   days on market $124,900 Active 4 DOM
8. 2026-06-13
   remarks 635-char remark
9. 2026-06-13
   days on market $124,900 Active 3 DOM
10. 2026-06-10
    remarks 576-char remark
11. 2026-06-10
    listed $124,900 Active 1 DOM

ⓘ 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: $1,164 · $97/mo
• Projected year-2 tax: $1,164 · $97/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: $13,257
• − Mortgage interest: −$6,996
• − Property taxes: −$1,164
• − Insurance: −$624
• − Repairs & maintenance: −$1,061
• − Management: −$1,061
• − Depreciation: −$3,633
• Taxable loss: −$1,282
• Est. tax savings @ 24.0%: +$308
• After-tax cash flow: $1,133/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): 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

+92.2% since first listed

2 events — show timeline

• 2026-06-09 Listed $124,900 IRMLS
• 2008-12-17 Sold (Public Records) $65,000 Public Records

Property tax history

+11.3%/yr

Latest (2024): $1,164 · +21.2% YoY. Source: county tax records.