Duplex with Recent Roof
For Sale
$125,000
1330 S Jay St, Kokomo, IN 46902
Both residences are occupied and offer one-bedroom layouts with open kitchen and living areas.
Property Size1,056 SF
Price / SF$118.37
Days on Market25
Property Features for 1330 S Jay St
General Information
Standard status
Active
Size
1,056 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 1BR/1BA
Multifamily Units
2
Building Details
Year Built
1983
Buildings
1
Listing Agency:
CRM Properties, Inc
(765) 431-9111
Listed By:
Audra Cannon
Source:
Kmsrealestategroup
Added: Aug 5
Changed: Aug 28
Last Checked: Aug 25 at 4:58AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CRM Properties, Inc
Investment Insights
Based on property information with market context.
This duplex contains 1,056 square feet across two residential units, each arranged with 1 bedroom, a full bathroom, and a combined kitchen and living area. The property was built in 1983 and has a total-electric setup. A roof replacement completed in 2024 adds a documented recent improvement to the building.
Both units are occupied. Residents pay their own electric service, while ownership handles water, sewer, trash, and lawn care. The property is located at 1330 S Jay St in Kokomo, Indiana, providing a compact residential income configuration with clearly defined operating responsibilities.
Both units are occupied. Residents pay their own electric service, while ownership handles water, sewer, trash, and lawn care. The property is located at 1330 S Jay St in Kokomo, Indiana, providing a compact residential income configuration with clearly defined operating responsibilities.
Key Highlights
- Two‑unit duplex with 1,056 square feet of total property size
- Each unit includes 1 bedroom and 1 full bathroom
- Open kitchen and living area in both units
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$9,490
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.59%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$189,800
$189.8K
Cap Rate 7%
$135,571
$135.6K
Cap Rate 9%
$105,444
$105.4K
Market Conditions
NOI Build-Up for 1,056 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$14.3K $13.56/SF
− Vacancy
−$762 −$0.72/SF
EGI
$13.6K $12.84/SF
− OpEx
−$4.1K −$3.85/SF
NOI
$9.5K $8.99/SF
Area
Howard County, IN
Vacancy
5.32%
Lease Rate
$13.56 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$189,800
Cap Rate 7%
$135,571
Cap Rate 9%
$105,444
Alternative Uses
Best Use
Multifamily LT 5
$135.6K
$118.6K – $158.2K
NOI $9,490 @ 7.0% cap · market cap 7.59%
Second Best
Apartment 5plus
$125.0K
$109.4K – $145.8K
NOI $8,750 @ 7.0% cap · market cap 7.00%
Theoretical Best
Warehouse
$831.6K
$727.7K – $970.2K
NOI $58,212 @ 7.0% cap · market cap 46.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
237
Businesses Nearby
Explore this area
Business Placement
Demographics for 46902, IN
36,038
Population
18,004
Households
2
Avg Household Size
42
Median Age
20%
College-Educated
92%
High-School Grad
50.7 sq mi
ZIP Area
711
Density / Sq Mi
$59,548
Median Household Income
$36,902
Median Earnings
$929
Median Rent
$154,400
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Both residences are occupied and offer one-bedroom layouts with open kitchen and living areas.
Where is this duplex located?
The property is located at 1330 S Jay St Kokomo, IN.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: Two‑unit duplex with 1,056 square feet of total property size; Each unit includes 1 bedroom and 1 full bathroom; Open kitchen and living area in both units
