1705 S Washington St · Kokomo, IN 46902

$119,900

3 bd · 1.0 ba · 1,584 sqft · SingleFamily public records · 53 Days on market

Built 1910 7,500 sqft lot Est $171k · 30% under

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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 +24.6/30.0
• ARV discount +15.0/15.0
• DSCR +8.0/10.0
• 1% rule +6.4/10.0
• 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 MLS

#6021 FULL OF CHARM! THIS COMPLETELY RENOVATED 2 STORY IS MOVE IN READY! THE 4 BEDRM HOME OFFERS A LG FAMILY RM, FORMAL DINING AREA, ENTRY WAY WITH HALF BATH, KITCHEN WITH PANTRY & UTILITY RM OFF KITCHEN AND A FENCED BACK YARD. UPDATES INCLUDE NEWER REPLACEMENT WINDOWS, FLOORING, PAINT & SIDING. 1ST FLOOR BEDRM CAN BE USED AS A DEN. ACCESS THE DETACHED GARAGE FROM WASHINGTON OR THE ALLEY. CALL FOR AN APPOINTMENT.

Key facts

• Full privacy fence
• Large back yard
• Covered porch patio

Tags

• COVERED PORCH PATIO
• LARGE BACK YARD
• FULL PRIVACY FENCE

Property features AI

Finance

• Other: Directions: North on Washington or south to 1705 S Washington; Subdivision listed as Other
• Financial info: No financial details provided
• HOA & community: No HOA details provided

Exterior

• Parking: Detached off-street garage with 2 parking spaces
• Security: No security details provided
• Utilities: Public water; Public sewer
• Home design: Single-family residence (site-built); Two stories
• Construction: Aluminum siding; Above-grade finished area reported (detail withheld); Year built not provided
• Exterior features: Patio; Irregular lot; Lot dimensions approximately 50 x 150

Interior

• Kitchen: No kitchen appliance details provided
• Bedrooms: Total of 8 rooms (bedroom count not specified)
• Flooring: No flooring details provided
• Bathrooms: Two full bathrooms; One main-level bathroom
• Heating & cooling: Natural gas heating; Central air conditioning
• Interior features: Full basement
• Laundry & utility: Laundry located on the main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $249 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $116k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.8% 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); 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).
• Market conditions: Rents rising (+1.8%/yr); 232 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 $829 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

• It's been on market 53 days — a 3% lower offer ($116k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 12y ago; this cycle's ask has dropped $35k (23%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $72k; list at $120k implies a 67% 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 $116,303 (3.0% below list)

Questions for the listing agent

1. It's been on market 53 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 1910 — 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: 1.14% ✓
• Cap rate: 8.79%
• Cash-on-cash: 8.90%
• DSCR: 1.40
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $171,072
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1608 S Armstrong St	0.08mi	3/1.0	1,568 (-1%)	5mo	$110,000	$70	91
1709 S Buckeye St	0.07mi	2/2.0 (-1)	1,482 (-6%)	2mo	$149,000	$101	75
1520 S Courtland Ave	0.22mi	3/1.0	1,438 (-9%)	2mo	$155,000	$108	73
1424 S Courtland Ave	0.30mi	4/1.0 (+1)	1,656 (+4%)	4mo	$105,000	$63	70
1335 S Buckeye St	0.30mi	3/3.0	1,454 (-8%)	1mo	$173,000	$119	64
1110 S Courtland St	0.55mi	3/1.5	1,458 (-8%)	1mo	$170,000	$117	59
1931 S Bell St	0.48mi	3/2.0	1,414 (-11%)	0mo	$235,000	$166	56
721 W Boulevard	0.47mi	2/1.0 (-1)	1,402 (-12%)	5mo	$184,200	$131	50
528 Holly Ln	0.72mi	3/2.0	1,500 (-5%)	6mo	$182,000	$121	49
1036 S Webster St	0.60mi	3/2.0	1,760 (+11%)	5mo	$175,000	$99	46
1019 S Courtland Ave	0.66mi	4/2.0 (+1)	1,760 (+11%)	7mo	$161,000	$91	36
1106 W Boulevard St	0.72mi	2/2.5 (-1)	1,364 (-14%)	1mo	$122,000	$89	32

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: -4.2%
• Equity multiple: 0.85×
• Total profit: $-5,176
• Equity at exit: $17,877

10-year hold

• IRR: 4.1%
• Equity multiple: 1.28×
• Total profit: $9,480
• Equity at exit: $10,367

Cash invested: $33,572 (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: 232
• Price-to-rent: 7.3×

Monthly cashflow live

• Estimated rent: $1,364 medium
• Mortgage (P&I): −$629
• Tax est. 1.5%: −$150 /mo · $1,798/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$286
• Net cashflow: $249

Break-even live

Break-even rent $1,049

Max offer price $119,900

Occupancy floor 77%

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
430 W Rainbow Cir Kokomo, IN	3.0	1.0–2.5	966	$1,345	$1.39	1d	6	1.31mi

Listing history 19 events

1. 2026-06-19
   pricedays on market $119,900 Active 53 DOM
2. 2026-06-18
   days on market $154,900 Active 52 DOM
3. 2026-06-17
   days on market $154,900 Active 51 DOM
4. 2026-06-16
   days on market $154,900 Active 50 DOM
5. 2026-06-15
   days on market $154,900 Active 49 DOM
6. 2026-06-14
   days on market $154,900 Active 47 DOM
7. 2026-06-13
   days on market $154,900 Active 46 DOM
8. 2026-06-10
   days on market $154,900 Active 44 DOM
9. 2026-06-09
   days on market $154,900 Active 43 DOM
10. 2026-06-08
    days on market $154,900 Active 42 DOM
11. 2026-06-07
    days on market $154,900 Active 41 DOM
12. 2026-06-02
    days on market $154,900 Active 36 DOM
13. 2026-06-01
    days on market $154,900 Active 35 DOM
14. 2026-05-31
    days on market $154,900 Active 34 DOM
15. 2026-05-30
    days on market $154,900 Active 33 DOM
16. 2026-04-27
    listed $154,900 Active
17. 2018-07-20
    listed $87,500
18. 2014-07-21
    soldstatus $71,800 428-char remark

    Show marketing remark (428 chars)

    #6021 FULL OF CHARM! THIS COMPLETELY RENOVATED 2 STORY IS MOVE IN READY! THE 4 BEDRM HOME OFFERS A LG FAMILY RM, FORMAL DINING AREA, ENTRY WAY WITH HALF BATH, KITCHEN WITH PANTRY & UTILITY RM OFF KITCHEN AND A FENCED BACK YARD. UPDATES INCLUDE NEWER REPLACEMENT WINDOWS, FLOORING, PAINT & SIDING. 1ST FLOOR BEDRM CAN BE USED AS A DEN. ACCESS THE DETACHED GARAGE FROM WASHINGTON OR THE ALLEY. CALL FOR AN APPOINTMENT.

19. 2014-01-20
    listed $78,500 428-char remark

    Show marketing remark (428 chars)

    #6021 FULL OF CHARM! THIS COMPLETELY RENOVATED 2 STORY IS MOVE IN READY! THE 4 BEDRM HOME OFFERS A LG FAMILY RM, FORMAL DINING AREA, ENTRY WAY WITH HALF BATH, KITCHEN WITH PANTRY & UTILITY RM OFF KITCHEN AND A FENCED BACK YARD. UPDATES INCLUDE NEWER REPLACEMENT WINDOWS, FLOORING, PAINT & SIDING. 1ST FLOOR BEDRM CAN BE USED AS A DEN. ACCESS THE DETACHED GARAGE FROM WASHINGTON OR THE ALLEY. CALL FOR AN APPOINTMENT.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

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: $16,369
• − Mortgage interest: −$6,716
• − Property taxes: −$1,798
• − Insurance: −$600
• − Repairs & maintenance: −$1,310
• − Management: −$1,310
• − Depreciation: −$3,488
• Taxable income: $1,148
• Est. tax owed @ 24.0%: −$275
• After-tax cash flow: $2,713/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

+97.3% since first listed

4 events — show timeline

• 2026-04-27 Listed $154,900 IRMLS
• 2018-07-20 Listed $87,500 IRMLS
• 2014-07-21 Sold (MLS) $71,800 IRMLS
• 2014-01-20 Listed $78,500 IRMLS

Property tax history

-68.3%/yr

Latest (2018): $5 · -4.8% YoY. Source: county tax records.