This property features 2 apartments with 2 bedrooms/1 bath per unit. It features beautiful hardwood throughout, high ceilings, large windows, an outdoor deck, and a 1½ car garage. The tenants are amazing and meticulous! Tenants currently pay below market rates of $700 and $750 with leases through end of October 2024 and May of 2025. AVG MARKET RENT POTENTIAL OF $870-1000 PER UNIT! Owner states roof is 8 years old, sewer line replaced in 2014, mechanics are newer and light remodeling was completed less than 10 years ago. Plenty of Off-street parking is available for tenants and their guests. Both units have washer/dryer hookups, separate gas and electric meters. House is located on a main corridor of the town with easy access to public transportation and located less than a mile from St. Joseph Ascension Hospital.
WHY ARE REAL ESTATE INVESTORS BUYING IN KOKOMO?
The commitment from Stellantis and Samsung SDI of the $2.5 billion development in Kokomo along with many new job opportunities have created an influx of people into a city that already had a shortage of available housing. As a result, real estate in Kokomo has become a very hot commodity.
Per Rent.com, “The average rent for apartments in Kokomo, IN, is between $984 and $1,779 in 2024. For a studio apartment in Kokomo, IN, the average rent is $984. When it comes to 1-bedroom apartments, the average rent in Kokomo, IN, is $1,145. For a 2-bedroom apartment the average is $1,779.”
According to Zillow, “The median rent price in Kokomo, IN in August 2024 is $102 more than August 2023.”