109 Greene St · Boone, IA 50036

$119,900

2 bd · 1.0 ba · 1,298 sqft · SingleFamily public records · 362 Days on market

Built 1885 $92/sqft · 36% below area Est $187k · 36% under ↓ 7% since listing

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +25.5/30.0
• ARV discount +15.0/15.0
• DSCR +8.5/10.0
• 1% rule +6.1/10.0
• Schools +5.2/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Welcome to 109 Greene Street—an inviting opportunity in a highly desirable location in Boone, Iowa! This charming 2-bedroom, 1-bath home offers comfort, convenience, and plenty of potential for its next owner. Situated in a wonderful neighborhood, the property is just minutes from local parks, schools, and Boone County Hospital, making everyday living incredibly convenient. Whether you're commuting, running errands, or enjoying outdoor recreation, you’ll appreciate the easy access to everything the community has to offer. The home features good-sized bedrooms and a functional layout, providing a solid foundation to make the space your own. New siding has already been installed on approximately three-quarters of the home, and the seller is offering a $3,075 rebate for painting the remaining back wall—giving you the opportunity to finish the exterior just the way you’d like. Outside, the property sits on a nicely sized lot with a HUGE backyard—perfect for gardening, entertaining, pets, or simply enjoying the outdoors. With its great location, large yard, and room to add your personal touch, 109 Greene Street is full of potential and ready for its next chapter. Don’t miss your chance to make this home your own!

Key facts

• Built 1885
• Listed 362 days

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $120k.

Deal economics

• At list price, monthly cash flow is $281 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $120k).
• Recommended offer: $106k (12.0% below list) — sets the bar for market timing.
• Cap rate 9.1% vs local median 3.6% in Boone — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 79/100 on livability (#112 in IA, #2,144 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F.
• Boone Community School District (town): math 57% / reading 66% proficiency, ranked #232 of 289 in IA (top 80%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 215 active listings in the ZIP; 5 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 60% of comp listings sitting > 30 days — soft ceiling on asking rent; 80 units permitted in Boone County in 2024 (16 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $829 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.

Negotiation context

• It's been on market 362 days — a 12% lower offer ($106k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $9k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1885 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $105,512 (12.0% below list)

Questions for the listing agent

1. It's been on market 362 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1885 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
7. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
8. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.11% ✓
• Cap rate: 9.10%
• Cash-on-cash: 10.03%
• DSCR: 1.45
• GRM: 7.5

CMA / ARV

• ARV (median comp): $187,103
• List price: $119,900
• Delta: -35.92%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
614 Mamie Eisenhower Ave	0.18mi	3/1.0 (+1)	1,299 (+0%)	2mo	$158,000	$122	85
310 S Boone St	0.25mi	3/2.0 (+1)	1,348 (+4%)	2mo	$221,400	$164	71
204 Monona St	0.24mi	3/1.5 (+1)	1,413 (+9%)	6mo	$199,000	$141	62
1115 Aldrich Ave	0.43mi	2/1.0	1,154 (-11%)	2mo	$206,000	$179	60
209 Marshall St	0.27mi	3/1.0 (+1)	1,138 (-12%)	4mo	$146,464	$129	59
615 11th St	0.70mi	3/1.0 (+1)	1,307 (+1%)	4mo	$100,000	$77	58
210 Linn St	0.55mi	3/2.0 (+1)	1,272 (-2%)	6mo	$180,000	$142	57
921 2nd St	0.24mi	3/1.0 (+1)	1,104 (-15%)	6mo	$170,000	$154	54
515 8th St	0.51mi	3/1.0 (+1)	1,464 (+13%)	2mo	$152,000	$104	48
328 S Benton St	0.50mi	3/2.0 (+1)	1,428 (+10%)	7mo	$285,000	$200	45
1322 7th St	0.70mi	3/1.5 (+1)	1,406 (+8%)	2mo	$225,000	$160	45
1310 Aldrich Ave	0.61mi	3/1.5 (+1)	1,150 (-11%)	8mo	$170,000	$148	39

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -1.2%
• Equity multiple: 0.95×
• Total profit: $-1,575
• Equity at exit: $17,877

10-year hold

• IRR: 8.4%
• Equity multiple: 1.64×
• Total profit: $21,571
• Equity at exit: $10,367

Cash invested: $33,572 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 83 Strongly Landlord-Friendly
• State Iowa: 83 Strongly Landlord-Friendly · R+6
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; mostly landlord-friendly statewide.

Methodology + full state rankings →

ZIP-level market 50036

• Home prices YoY: -27.1%
• Active inventory: 215
• Price-to-rent: 7.5×

Monthly cashflow live

• Estimated rent: $1,328 high
• Mortgage (P&I): −$629
• Tax from tax record: −$90 /mo · $1,080/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $281

Break-even live

Break-even rent $973

Max offer price $119,900

Occupancy floor 74%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Rent comps 5 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
411 W 9th St Boone, IA	3.0	2.0	1275	$1,100	$0.86	44d	1	0.92mi
1109 Ida Pl Boone, IA	3.0	2.5	1715	$1,950	$1.14	44d	1	1.01mi
680 S Marion St Boone, IA	2.0–3.0	1.0–2.0	1042	$925	$0.89	14d	37	1.03mi
1221 S Linn St Boone, IA	2.0–3.0	1.0	1025	$925	$0.90	14d	2	1.10mi
1208 S Linn St Boone, IA	3.0	2.5	1449	$1,800	$1.24	44d	1	1.11mi

Listing history 10 events

1. 2026-05-18
   status Pending 1263-char remark

   Show marketing remark (1230 chars)

   Welcome to 109 Greene Street--an inviting opportunity in a highly desirable location in Boone, Iowa! This charming 2-bedroom, 1-bath home offers comfort, convenience, and plenty of potential for its next owner. Situated in a wonderful neighborhood, the property is just minutes from local parks, schools, and Boone County Hospital, making everyday living incredibly convenient. Whether you're commuting, running errands, or enjoying outdoor recreation, you'll appreciate the easy access to everything the community has to offer. The home features good-sized bedrooms and a functional layout, providing a solid foundation to make the space your own. New siding has already been installed on approximately three-quarters of the home, and the seller is offering a $3,075 rebate for painting the remaining back wall--giving you the opportunity to finish the exterior just the way you'd like. Outside, the property sits on a nicely sized lot with a HUGE backyard--perfect for gardening, entertaining, pets, or simply enjoying the outdoors. With its great location, large yard, and room to add your personal touch, 109 Greene Street is full of potential and ready for its next chapter. Don't miss your chance to make this home your own!

2. 2026-05-18
   status Pending 1230-char remark

   Show marketing remark (1230 chars)

   Welcome to 109 Greene Street--an inviting opportunity in a highly desirable location in Boone, Iowa! This charming 2-bedroom, 1-bath home offers comfort, convenience, and plenty of potential for its next owner. Situated in a wonderful neighborhood, the property is just minutes from local parks, schools, and Boone County Hospital, making everyday living incredibly convenient. Whether you're commuting, running errands, or enjoying outdoor recreation, you'll appreciate the easy access to everything the community has to offer. The home features good-sized bedrooms and a functional layout, providing a solid foundation to make the space your own. New siding has already been installed on approximately three-quarters of the home, and the seller is offering a $3,075 rebate for painting the remaining back wall--giving you the opportunity to finish the exterior just the way you'd like. Outside, the property sits on a nicely sized lot with a HUGE backyard--perfect for gardening, entertaining, pets, or simply enjoying the outdoors. With its great location, large yard, and room to add your personal touch, 109 Greene Street is full of potential and ready for its next chapter. Don't miss your chance to make this home your own!

3. 2026-03-13
   price $119,900 1230-char remark

   Show marketing remark (1263 chars)

   Welcome to 109 Greene Street—an inviting opportunity in a highly desirable location in Boone, Iowa! This charming 2-bedroom, 1-bath home offers comfort, convenience, and plenty of potential for its next owner. Situated in a wonderful neighborhood, the property is just minutes from local parks, schools, and Boone County Hospital, making everyday living incredibly convenient. Whether you're commuting, running errands, or enjoying outdoor recreation, you’ll appreciate the easy access to everything the community has to offer. The home features good-sized bedrooms and a functional layout, providing a solid foundation to make the space your own. New siding has already been installed on approximately three-quarters of the home, and the seller is offering a $3,075 rebate for painting the remaining back wall—giving you the opportunity to finish the exterior just the way you’d like. Outside, the property sits on a nicely sized lot with a HUGE backyard—perfect for gardening, entertaining, pets, or simply enjoying the outdoors. With its great location, large yard, and room to add your personal touch, 109 Greene Street is full of potential and ready for its next chapter. Don’t miss your chance to make this home your own!

4. 2026-03-13
   price $119,900 1263-char remark

   Show marketing remark (1263 chars)

   Welcome to 109 Greene Street—an inviting opportunity in a highly desirable location in Boone, Iowa! This charming 2-bedroom, 1-bath home offers comfort, convenience, and plenty of potential for its next owner. Situated in a wonderful neighborhood, the property is just minutes from local parks, schools, and Boone County Hospital, making everyday living incredibly convenient. Whether you're commuting, running errands, or enjoying outdoor recreation, you’ll appreciate the easy access to everything the community has to offer. The home features good-sized bedrooms and a functional layout, providing a solid foundation to make the space your own. New siding has already been installed on approximately three-quarters of the home, and the seller is offering a $3,075 rebate for painting the remaining back wall—giving you the opportunity to finish the exterior just the way you’d like. Outside, the property sits on a nicely sized lot with a HUGE backyard—perfect for gardening, entertaining, pets, or simply enjoying the outdoors. With its great location, large yard, and room to add your personal touch, 109 Greene Street is full of potential and ready for its next chapter. Don’t miss your chance to make this home your own!

5. 2025-11-12
   price $129,900 1263-char remark

   Show marketing remark (1230 chars)

   Welcome to 109 Greene Street--an inviting opportunity in a highly desirable location in Boone, Iowa! This charming 2-bedroom, 1-bath home offers comfort, convenience, and plenty of potential for its next owner. Situated in a wonderful neighborhood, the property is just minutes from local parks, schools, and Boone County Hospital, making everyday living incredibly convenient. Whether you're commuting, running errands, or enjoying outdoor recreation, you'll appreciate the easy access to everything the community has to offer. The home features good-sized bedrooms and a functional layout, providing a solid foundation to make the space your own. New siding has already been installed on approximately three-quarters of the home, and the seller is offering a $3,075 rebate for painting the remaining back wall--giving you the opportunity to finish the exterior just the way you'd like. Outside, the property sits on a nicely sized lot with a HUGE backyard--perfect for gardening, entertaining, pets, or simply enjoying the outdoors. With its great location, large yard, and room to add your personal touch, 109 Greene Street is full of potential and ready for its next chapter. Don't miss your chance to make this home your own!

6. 2025-11-12
   price $129,900 1230-char remark

   Show marketing remark (1230 chars)

   Welcome to 109 Greene Street--an inviting opportunity in a highly desirable location in Boone, Iowa! This charming 2-bedroom, 1-bath home offers comfort, convenience, and plenty of potential for its next owner. Situated in a wonderful neighborhood, the property is just minutes from local parks, schools, and Boone County Hospital, making everyday living incredibly convenient. Whether you're commuting, running errands, or enjoying outdoor recreation, you'll appreciate the easy access to everything the community has to offer. The home features good-sized bedrooms and a functional layout, providing a solid foundation to make the space your own. New siding has already been installed on approximately three-quarters of the home, and the seller is offering a $3,075 rebate for painting the remaining back wall--giving you the opportunity to finish the exterior just the way you'd like. Outside, the property sits on a nicely sized lot with a HUGE backyard--perfect for gardening, entertaining, pets, or simply enjoying the outdoors. With its great location, large yard, and room to add your personal touch, 109 Greene Street is full of potential and ready for its next chapter. Don't miss your chance to make this home your own!

7. 2025-08-07
   price $124,900 1230-char remark

   Show marketing remark (1263 chars)

   Welcome to 109 Greene Street—an inviting opportunity in a highly desirable location in Boone, Iowa! This charming 2-bedroom, 1-bath home offers comfort, convenience, and plenty of potential for its next owner. Situated in a wonderful neighborhood, the property is just minutes from local parks, schools, and Boone County Hospital, making everyday living incredibly convenient. Whether you're commuting, running errands, or enjoying outdoor recreation, you’ll appreciate the easy access to everything the community has to offer. The home features good-sized bedrooms and a functional layout, providing a solid foundation to make the space your own. New siding has already been installed on approximately three-quarters of the home, and the seller is offering a $3,075 rebate for painting the remaining back wall—giving you the opportunity to finish the exterior just the way you’d like. Outside, the property sits on a nicely sized lot with a HUGE backyard—perfect for gardening, entertaining, pets, or simply enjoying the outdoors. With its great location, large yard, and room to add your personal touch, 109 Greene Street is full of potential and ready for its next chapter. Don’t miss your chance to make this home your own!

8. 2025-08-07
   price $124,500 1263-char remark

   Show marketing remark (1263 chars)

   Welcome to 109 Greene Street—an inviting opportunity in a highly desirable location in Boone, Iowa! This charming 2-bedroom, 1-bath home offers comfort, convenience, and plenty of potential for its next owner. Situated in a wonderful neighborhood, the property is just minutes from local parks, schools, and Boone County Hospital, making everyday living incredibly convenient. Whether you're commuting, running errands, or enjoying outdoor recreation, you’ll appreciate the easy access to everything the community has to offer. The home features good-sized bedrooms and a functional layout, providing a solid foundation to make the space your own. New siding has already been installed on approximately three-quarters of the home, and the seller is offering a $3,075 rebate for painting the remaining back wall—giving you the opportunity to finish the exterior just the way you’d like. Outside, the property sits on a nicely sized lot with a HUGE backyard—perfect for gardening, entertaining, pets, or simply enjoying the outdoors. With its great location, large yard, and room to add your personal touch, 109 Greene Street is full of potential and ready for its next chapter. Don’t miss your chance to make this home your own!

9. 2025-05-21
   listed $129,000 Active 1263-char remark

   Show marketing remark (1230 chars)

   Welcome to 109 Greene Street--an inviting opportunity in a highly desirable location in Boone, Iowa! This charming 2-bedroom, 1-bath home offers comfort, convenience, and plenty of potential for its next owner. Situated in a wonderful neighborhood, the property is just minutes from local parks, schools, and Boone County Hospital, making everyday living incredibly convenient. Whether you're commuting, running errands, or enjoying outdoor recreation, you'll appreciate the easy access to everything the community has to offer. The home features good-sized bedrooms and a functional layout, providing a solid foundation to make the space your own. New siding has already been installed on approximately three-quarters of the home, and the seller is offering a $3,075 rebate for painting the remaining back wall--giving you the opportunity to finish the exterior just the way you'd like. Outside, the property sits on a nicely sized lot with a HUGE backyard--perfect for gardening, entertaining, pets, or simply enjoying the outdoors. With its great location, large yard, and room to add your personal touch, 109 Greene Street is full of potential and ready for its next chapter. Don't miss your chance to make this home your own!

10. 2025-05-21
    listed $129,000 Active 1230-char remark

    Show marketing remark (1230 chars)

    Welcome to 109 Greene Street--an inviting opportunity in a highly desirable location in Boone, Iowa! This charming 2-bedroom, 1-bath home offers comfort, convenience, and plenty of potential for its next owner. Situated in a wonderful neighborhood, the property is just minutes from local parks, schools, and Boone County Hospital, making everyday living incredibly convenient. Whether you're commuting, running errands, or enjoying outdoor recreation, you'll appreciate the easy access to everything the community has to offer. The home features good-sized bedrooms and a functional layout, providing a solid foundation to make the space your own. New siding has already been installed on approximately three-quarters of the home, and the seller is offering a $3,075 rebate for painting the remaining back wall--giving you the opportunity to finish the exterior just the way you'd like. Outside, the property sits on a nicely sized lot with a HUGE backyard--perfect for gardening, entertaining, pets, or simply enjoying the outdoors. With its great location, large yard, and room to add your personal touch, 109 Greene Street is full of potential and ready for its next chapter. Don't miss your chance to make this home your own!

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IA · Partial reset (capped growth)

• Current annual tax: $1,080 · $90/mo
• Projected year-2 tax: $1,481 · $123/mo
• Expected delta: +$401/yr (+$33/mo · 37.1%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 4/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥103°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 1/10 Low 0 unhealthy d/yr today · 0 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,939
• − Mortgage interest: −$6,716
• − Property taxes: −$1,080
• − Insurance: −$600
• − Repairs & maintenance: −$1,275
• − Management: −$1,275
• − Depreciation: −$3,488
• Taxable income: $1,505
• Est. tax owed @ 24.0%: −$361
• After-tax cash flow: $3,006/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Boone Community School District
• NCES district ID: 1905130
• Math proficiency: 57% ▼ -6.00%
• Reading proficiency: 66% ▲ 1.00%
• Median HH income: $48,703
• Composite: 52.16/100
• National rank: #1613
• State rank: #232 of 289 in IA

Livability — Boone

• Score: 79/100
• State rank: #112
• US rank: #2144

Category grades

Amenities F Commute F Cost of living A+ Crime B Employment B Housing A+ Health & safety A+ User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Boone, IA
• Population (ZIP): 16,318

Population outlook (Boone County) Hauer SSP2

• Today (2025): 27,674 people
• By 2030: 28,058 · +1.4%
• By 2040: 28,474 · +2.9%
• By 2050: 28,383 · +2.6%
• By 2075: 27,647 · -0.1%
• By 2100: 25,485 · -7.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (92%)
• Race & ethnicity: White 92% Two or more races 4% Hispanic / Latino 3%
• Common ancestry: Portuguese 10% Iranian 3% Slovak 3%
• Foreign-born: 1%
• Languages at home: 98% English-only · Spanish 1%

Political lean MEDSL · Boone

• 2024 margin: Strong R (+21.5) · D 38.4% · R 59.9% · Other 1.6%
• 2008→2024 swing: -29.2pp toward R · 2008: 7.6pp · 2024: -21.5pp
• All cycles: 2024: R+21.5 2020: R+15.6 2016: R+13.9 2012: D+6.4 2008: D+7.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -80.62%
• Current HPI: 216.6814
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.48%
• F500 in state: 4

Industry mix (Fortune 500 HQ in IA)

Industry	F500 HQs	Revenue
▸Financial Services	1	$16B
▸Retail / Convenience	1	$15B

Price history

-7.1% since first listed

10 events — show timeline

• 2026-05-18 Pending — DMMLS
• 2026-05-18 Pending — CIBOR
• 2026-03-13 Price Changed $119,900 CIBOR
• 2026-03-13 Price Changed $119,900 DMMLS
• 2025-11-12 Price Changed $129,900 DMMLS
• 2025-11-12 Price Changed $129,900 CIBOR
• 2025-08-07 Price Changed $124,900 CIBOR
• 2025-08-07 Price Changed $124,500 DMMLS
• 2025-05-21 Listed $129,000 CIBOR
• 2025-05-21 Listed $129,000 DMMLS

Property tax history

+2.2%/yr

Latest (2025): $1,080 · +4.7% YoY. Source: county tax records.