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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 3128 Springwater Ct, Kokomo, IN, 46902 priced at $215,000 converts $1,565/mo rent into $260/mo cash flow after a $1,052/mo obligation. Total monthly income equals $1,565/mo, and annual cash flow totals $3,122/yr on $71,273 invested. Return on cash invested prints 24.29% in year one, and rental yield reads 8.73% against a $215,000 entry. Equity gained on principal adds $1,387/yr, while 5% annual appreciation compiles into $59,401 by year five. Five-year ROI reaches 126.23% and total cumulative return in cash sums $89,965. For leverage, Ziffy Mortgage’s DSCR loan bases approval on $1,565/mo property income covering a $1,052/mo payment, not borrower’s personal income.
Single Family
Built in 2003
7,405 sqft lot
$N/A/sqft
$175 annually HOA
Neighborhood data shown for ZIP Code: 46902, Kokomo, IN area.
| Category | Value |
|---|---|
| Total HU (Housing Units) | 17,938 (100%) |
| Owner Occupied HU | 11,124 (62.0%) |
| Renter Occupied HU | 5,386 (30.0%) |
| Vacant Housing Units | 1,428 ( 8.0%) |
| Median Home Value | $188,290 |
| Average Home Value | $212,863 |
Residential
17,385
Single Family
15,243
Multi-Family
2,142
Businesses
1,038
Date | Event | Price |
|---|---|---|
| 2025-06-03 | Listed for sale | $215,000 |
| 2024-10-18 | Listing removed | $229,900 |
| 2024-09-09 | Listed for sale | $229,900 |
Date | Tax Paid | Tax Increase Rate | Value | Value Increase Rate |
|---|---|---|---|---|
| 2024-06-04 | $1744.00 | 2.17% | $194,800 | 11.70% |
| 2023-06-04 | $1707.00 | 19.45% | $174,400 | 2.17% |
| 2022-06-04 | $1429.00 | 3.18% | $170,700 | 19.45% |
Listed by: Beau Gibson • F.C. Tucker Company
Mls Name: MIBOR as distributed by MLS GRID
Mls Provider:
Mls ID: #21997825
Disclaimer: Based on information submitted to the MLS GRID as of 2025-06-04 07:47:54 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)
