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Price: $300K - 500K
Monthly Cash Flow: 1 - 3k+
Home Type: Single Family
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A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
Rental property for sale in Kokomo at 1508 N Morrison St, Kokomo, IN, 46901 priced at $115,000 converts $881/mo rent into $191/mo cash flow after a $563/mo obligation. Total monthly income equals $881/mo, and annual cash flow totals $2,286/yr on $38,123 invested. Return on cash invested prints 25.91% in year one, and rental yield reads 9.19% against a $115,000 entry. Equity gained on principal adds $742/yr, while 5% annual appreciation compiles into $31,772 by year five. Five-year ROI reaches 134.84% and total cumulative return in cash sums $51,405. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $881/mo property income covering a $563/mo payment, not borrower’s personal income.
Single Family
Built in 1889
7,840 sqft lot
$N/A/sqft
No HOA
Neighborhood data shown for ZIP Code: 46901, Kokomo, IN area.
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,311 (100%) |
| Owner Occupied HU | 10,862 (59.3%) |
| Renter Occupied HU | 5,385 (29.4%) |
| Vacant Housing Units | 2,064 (11.3%) |
| Median Home Value | $165,136 |
| Average Home Value | $194,138 |
Residential
17,188
Single Family
15,687
Multi-Family
1,501
Businesses
983
Date | Event | Price |
|---|---|---|
| 2025-06-25 | Listed for sale | $115,000 |
| 2025-06-11 | Listing removed | $114,900 |
| 2025-05-28 | Price change | $114,900 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-06-26 | $535.28 | -10.18% | $74,600 | 4.78% |
| 2023-06-26 | $595.92 | 15.01% | $71,200 | -1.25% |
| 2022-06-26 | $518.14 | 3.88% | $72,100 | 14.81% |
Listed by: Richard Graham • JMG Indiana
Mls Name: MIBOR as distributed by MLS GRID
Mls Provider:
Mls ID: #22046904
Disclaimer: Based on information submitted to the MLS GRID as of 2025-06-26 08:02:49 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. [Click here for more information](/mls-disclaimers/#48)
