FIX & FLIP/BUY & HOLD SFH KOKOMO
1506 S Main St Kokomo, IN
$75k
This 1158’ 3/1 SFH offers a great ROI either as a fix and flip or a buy and hold. This vacant property has plenty of room to add an additional bathroom. Rentometer shows avg rental rate for a 3/1 as $1320 and a 3/2 as $1527! ARV is $161k. Property will need some lipstick and a new water heater.
Please click here for additional photos and video: Pics 1506 Main St Kokomo, IN – Google Drive
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.”