For Sale
$105,000
815 S Calumet Street, Kokomo, IN 46901
INVESTMENT, One Story, Kokomo, IN
Property Size756 SF
Lot Size0.14 Acres
Price / SF$138.89
Days on Market22
Property Features for 815 S Calumet Street
General Information
Property type
Residential Multi Family
Property subtype
Single Family Residence
Bedrooms
2
Bathrooms
2
Full bathrooms
1
Half bathrooms
1
Rooms
Bathroom 2, Bathroom 1, Bedroom 2, Bedroom 1
Parking features
Paved or Surfaced, Off Street
Lot features
City/ Town/ Suburb, Level, 0-2.9999
Elementary school
Elwood Haynes
Middle school
Maple Crest
High school
Kokomo
Elementary school district
Kokomo-Center Township Cons. S.D.
Middle school district
Kokomo-Center Township Cons. S.D.
High school district
Kokomo-Center Township Cons. S.D.
Directions
Heading east on Markland Ave from Apperson Way, turn left onto Calumet St, house is on the left.
Subdivision
Howard County
Standard status
Active
APN
34-04-31-454-031.000-002
Size
756 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
BLYTHE'S RIVERSIDE ADDN LOT 28
Legal Description
BLYTHE'S RIVERSIDE ADDN LOT 28
Utilities
Cooling system
Central Air
Building Details
Year built
1950
Floors in Building
1
Number of units
1
Flooring type
Vinyl, Carpet
Roof type
Shingle
Architectural style
Bungalow, Ranch
Listing Agency:
Pinnacle Group Real Estate Services
(260) 705-9555
Listed By:
Brian Frederickson · License #RB18001045
(317) 672-8890
Added: Aug 13
Changed: Sep 2
Last Checked: Sep 3 at 9:06AM
MLS# 202632992
Copyright © 2026 Upstate Alliance of REALTORS® Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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
$6,265
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
5.97%
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%
$125,300
$125.3K
Cap Rate 7%
$89,500
$89.5K
Cap Rate 9%
$69,611
$69.6K
Market Conditions
NOI Build-Up for 756 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
$12.1K $15.96/SF
− Vacancy
−$676 −$0.89/SF
EGI
$11.4K $15.07/SF
− OpEx
−$5.1K −$6.78/SF
NOI
$6.3K $8.29/SF
Area
Howard County, IN
Vacancy
5.60%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
45.00%
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%
$125,300
Cap Rate 7%
$89,500
Cap Rate 9%
$69,611
Alternative Uses
Best Use
Apartment 5plus
$89.5K
$78.3K – $104.4K
NOI $6,265 @ 7.0% cap · market cap 5.97%
Second Best
—
—
no second resolved use
Theoretical Best
Warehouse
$595.3K
$520.9K – $694.6K
NOI $41,674 @ 7.0% cap · market cap 39.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
532
Businesses Nearby
Explore this area
Business Placement
Demographics for 46901, IN
38,072
Population
18,307
Households
2.1
Avg Household Size
41
Median Age
17%
College-Educated
90%
High-School Grad
140.9 sq mi
ZIP Area
270
Density / Sq Mi
$61,041
Median Household Income
$37,107
Median Earnings
$869
Median Rent
$131,700
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
Where is this single family property located?
The property is located at 815 S Calumet Street Kokomo, IN.
What is the asking price?
The asking price for this property is $105,000.
