601 W Carpenter Ave · Fairfield, IA 52556

$139,900

3 bd · 2.0 ba · 1,284 sqft · SingleFamily public records · 51 Days on market

Built 1955 9,148 sqft lot $109/sqft · 10% above area Est $127k · 10% over

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Why this score? — see what drove the D 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 +15.2/30.0
• Schools +5.3/10.0
• DSCR +4.7/10.0
• 1% rule +4.0/10.0
• Livability +4.0/5.0
• ARV discount +2.9/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Don’t miss this lovely 3 bedroom / 1 ½ bath ranch style home tucked away on a dead-end street! Just minutes from the Loop Trail, MIU, the domes, shopping and activities. Taking into consideration Vastu architectural principles, this home has been rectified & remodeled accordingly. The kitchen is complete with ample counter space, appliances, well-appointed cabinetry, eat-at-bar space & a remineralizing drinking water system. The large living room with picture window provides plenty of natural light, highlighting the beautiful hardwood flooring and providing a cozy atmosphere, especially with the wood-burning stove. Both functional and stylish, the home features a full hallway bath and a 3/4 bath, ensuring convenience for you and your guests. Adjacent to the living room is a versatile area that can serve as an office, workout area, or dining room. For moments of relaxation and tranquility, step into the meditation room or relax and enjoy nature in the backyard, which features a beautiful flower bed, patio, privacy fence and plenty of space for outdoor enjoyment. * NEW ROOF SHEETING & SHINGLES in 2024! *

Key facts

• Large windows
• Nearby trails
• Lush yard

Tags

• PEACEFUL CUL-DE-SAC
• OPEN-CONCEPT LAYOUT
• LARGE WINDOWS
• SURROUNDING FOREST
• NEARBY TRAILS
• LUSH YARD

Property features AI

Exterior

• Parking: Covered carport and additional gravel parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Metal siding; Wood siding
• Exterior features: Covered parking; Carport; Gravel and additional parking areas; Lot roughly 0.21 acres (approx. 143 x 63)

Interior

• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Central air conditioning; Forced air heating; Wood stove
• Interior features: Fireplace; Basement; Accessible entrance

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $50 ($597/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $125k (10.3% below list).
• Recommended offer: $125k (10.3% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 2.9% in Fairfield — 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 (#122 in IA, #2,265 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: amenities F, commute F, employment F.
• Fairfield Community School District (town): math 56% / reading 69% proficiency, ranked #227 of 289 in IA (top 78%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Fairfield Middle School (math 63% / reading 70%, grade A-, #148 of 246 statewide, top 61%, 438 students, 51% FRL); Fairfield High School (math 50% / reading 73%, grade B-, #255 of 336 statewide, top 76%, 476 students, 42% FRL).
• Market conditions: 121 active listings in the ZIP; 14 units permitted in Jefferson County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $967 of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Jefferson County population projected at +27% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 51 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y ago; this cycle's ask has dropped $12k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $125,467 (10.3% below list)

Questions for the listing agent

1. It's been on market 51 days. Have you received any prior offers? Is the seller open to a 10% concession, seller financing, or rate buy-down credit?
2. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. Schools are A-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?
5. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
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: 0.90% ✗
• Cap rate: 6.72%
• Cash-on-cash: 1.52%
• DSCR: 1.07
• GRM: 9.3

CMA / ARV

• ARV (median comp): $127,026
• List price: $139,900
• Delta: 10.13%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
304 E Kirkwood Ave Ave	0.63mi	3/2.0	1,308 (+2%)	0mo	$105,000	$80	67
302 W Stone Ave	0.24mi	3/2.0	1,423 (+11%)	7mo	$170,000	$119	65
1001 W Briggs Ave	0.57mi	3/2.0	1,228 (-4%)	10mo	$123,000	$100	58
302 N 5th St	0.41mi	3/2.0	1,226 (-4%)	21mo	$70,000	$57	55
607 N B St	0.52mi	2/1.0 (-1)	1,294 (+1%)	19mo	$145,000	$112	49
902 W Burlington Ave	0.70mi	2/1.0 (-1)	1,216 (-5%)	8mo	$115,000	$95	43

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: -13.9%
• Equity multiple: 0.50×
• Total profit: $-19,498
• Equity at exit: $20,860

10-year hold

• IRR: -5.0%
• Equity multiple: 0.67×
• Total profit: $-12,885
• Equity at exit: $12,096

Cash invested: $39,172 (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 52556

• Home prices YoY: -15.1%
• Active inventory: 121
• Price-to-rent: 9.3×

Monthly cashflow live

• Estimated rent: $1,255 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$150 /mo · $1,794/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$263
• Net cashflow: $50

Break-even live

Break-even rent $1,192

Max offer price $139,900

Occupancy floor 91%

Sensitivity live

Price	-10% $129	-5% $89	+0% $50	+5% $10	+10% $-29
Rent	-10% $-49	-5% $0	+0% $50	+5% $99	+10% $149
Rate	-1.0pp $120	-0.5pp $85	base $50	+0.5pp $13	+1.0pp $-23

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 31 events

1. 2026-06-21
   days on market $139,900 Active 51 DOM
2. 2026-06-21
   days on market $139,900 Active 50 DOM
3. 2026-06-18
   days on market $139,900 Active 48 DOM
4. 2026-06-17
   days on market $139,900 Active 47 DOM
5. 2026-06-16
   days on market $139,900 Active 46 DOM
6. 2026-06-15
   days on market $139,900 Active 45 DOM
7. 2026-06-13
   days on market $139,900 Active 43 DOM
8. 2026-06-12
   days on market $139,900 Active 42 DOM
9. 2026-06-09
   days on market $139,900 Active 39 DOM
10. 2026-06-08
    days on market $139,900 Active 38 DOM
11. 2026-06-07
    days on market $139,900 Active 37 DOM
12. 2026-06-07
    days on market $139,900 Active 36 DOM
13. 2026-06-04
    days on market $139,900 Active 33 DOM
14. 2026-06-03
    price $139,900 Active 32 DOM
15. 2026-06-02
    days on market $148,000 Active 32 DOM
16. 2026-06-01
    days on market $148,000 Active 31 DOM
17. 2026-05-31
    days on market $148,000 Active 30 DOM
18. 2026-05-31
    days on market $148,000 Active 29 DOM
19. 2026-05-01
    listed $152,000 Active 953-char remark
20. 2025-06-20
    soldstatus $162,500 Closed 1150-char remark

    Show marketing remark (1150 chars)

    Don’t miss this lovely 3 bedroom / 1 ½ bath ranch style home tucked away on a dead-end street! Just minutes from the Loop Trail, MIU, the domes, shopping and activities. Taking into consideration Vastu architectural principles, this home has been rectified & remodeled accordingly. The kitchen is complete with ample counter space, appliances, well-appointed cabinetry, eat-at-bar space & a remineralizing drinking water system. The large living room with picture window provides plenty of natural light, highlighting the beautiful hardwood flooring and providing a cozy atmosphere, especially with the wood-burning stove. Both functional and stylish, the home features a full hallway bath and a 3/4 bath, ensuring convenience for you and your guests. Adjacent to the living room is a versatile area that can serve as an office, workout area, or dining room. For moments of relaxation and tranquility, step into the meditation room or relax and enjoy nature in the backyard, which features a beautiful flower bed, patio, privacy fence and plenty of space for outdoor enjoyment. * NEW ROOF SHEETING & SHINGLES in 2024! *

21. 2025-05-20
    historical Active Under Contract 1150-char remark

    Show marketing remark (1150 chars)

    Don’t miss this lovely 3 bedroom / 1 ½ bath ranch style home tucked away on a dead-end street! Just minutes from the Loop Trail, MIU, the domes, shopping and activities. Taking into consideration Vastu architectural principles, this home has been rectified & remodeled accordingly. The kitchen is complete with ample counter space, appliances, well-appointed cabinetry, eat-at-bar space & a remineralizing drinking water system. The large living room with picture window provides plenty of natural light, highlighting the beautiful hardwood flooring and providing a cozy atmosphere, especially with the wood-burning stove. Both functional and stylish, the home features a full hallway bath and a 3/4 bath, ensuring convenience for you and your guests. Adjacent to the living room is a versatile area that can serve as an office, workout area, or dining room. For moments of relaxation and tranquility, step into the meditation room or relax and enjoy nature in the backyard, which features a beautiful flower bed, patio, privacy fence and plenty of space for outdoor enjoyment. * NEW ROOF SHEETING & SHINGLES in 2024! *

22. 2025-04-30
    listed $162,500 Active 1150-char remark

    Show marketing remark (1150 chars)

    Don’t miss this lovely 3 bedroom / 1 ½ bath ranch style home tucked away on a dead-end street! Just minutes from the Loop Trail, MIU, the domes, shopping and activities. Taking into consideration Vastu architectural principles, this home has been rectified & remodeled accordingly. The kitchen is complete with ample counter space, appliances, well-appointed cabinetry, eat-at-bar space & a remineralizing drinking water system. The large living room with picture window provides plenty of natural light, highlighting the beautiful hardwood flooring and providing a cozy atmosphere, especially with the wood-burning stove. Both functional and stylish, the home features a full hallway bath and a 3/4 bath, ensuring convenience for you and your guests. Adjacent to the living room is a versatile area that can serve as an office, workout area, or dining room. For moments of relaxation and tranquility, step into the meditation room or relax and enjoy nature in the backyard, which features a beautiful flower bed, patio, privacy fence and plenty of space for outdoor enjoyment. * NEW ROOF SHEETING & SHINGLES in 2024! *

23. 2024-07-26
    price $163,000
24. 2024-07-19
    price $168,500
25. 2024-07-12
    status Active
26. 2024-07-11
    historical Active Under Contract
27. 2024-05-09
    listed $166,500 Active
28. 2023-08-26
    status Active
29. 2023-08-11
    historical
30. 2023-06-11
    listed $167,000 Active
31. 2007-06-21
    soldstatus $61,000

ⓘ 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: $1,794 · $150/mo
• Projected year-2 tax: $1,995 · $166/mo
• Expected delta: +$201/yr (+$17/mo · 11.2%)

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥107°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,056
• − Mortgage interest: −$7,837
• − Property taxes: −$1,794
• − Insurance: −$700
• − Repairs & maintenance: −$1,204
• − Management: −$1,204
• − Depreciation: −$4,070
• Taxable loss: −$1,753
• Est. tax savings @ 24.0%: +$421
• After-tax cash flow: $1,018/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: Fairfield Community School District
• NCES district ID: 1911340
• Math proficiency: 56% ▼ -14.00%
• Reading proficiency: 69% ▲ 3.00%
• Median HH income: $43,980
• Composite: 52.52/100
• National rank: #1563
• State rank: #227 of 289 in IA

Livability — Fairfield

• Score: 79/100
• State rank: #122
• US rank: #2265

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fairfield, IA
• City population: 615
• Population (ZIP): 11,586

Population outlook (Jefferson County) Hauer SSP2

• Today (2025): 20,818 people
• By 2030: 22,098 · +6.1%
• By 2040: 24,133 · +15.9%
• By 2050: 26,448 · +27.0%
• By 2075: 32,435 · +55.8%
• By 2100: 33,966 · +63.2%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (81%)
• Race & ethnicity: White 81% Black 7% Hispanic / Latino 5% Asian 5% Two or more races 3% Native American 1%
• Common ancestry: Italian 6% Slovak 4% Portuguese 3%
• Foreign-born: 12% · Vietnam, Canada, China
• Languages at home: 88% English-only · Other Indo-European 3% Spanish 2% Vietnamese 2%

Political lean MEDSL · Jefferson

• 2024 margin: Lean R (+6.8) · D 45.5% · R 52.3% · Other 2.1%
• 2008→2024 swing: -27.0pp toward R · 2008: 20.2pp · 2024: -6.8pp
• All cycles: 2024: R+6.8 2020: R+1.4 2016: R+0.5 2012: D+16.0 2008: D+20.2

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -36.76%
• Current HPI: 206.8679
• 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

+129.3% since first listed

15 events — show timeline

• 2026-06-02 Price Changed $139,900 IAR
• 2026-05-20 Price Changed $148,000 IAR
• 2026-05-01 Listed $152,000 IAR
• 2025-06-20 Sold (MLS) $162,500 IAR
• 2025-05-20 Contingent — IAR
• 2025-04-30 Listed $162,500 IAR
• 2024-07-26 Price Changed $163,000 IAR
• 2024-07-19 Price Changed $168,500 IAR
• 2024-07-12 Relisted — IAR
• 2024-07-11 Contingent — IAR
• 2024-05-09 Listed $166,500 IAR
• 2023-08-26 Relisted — IAR
• 2023-08-11 Delisted — IAR
• 2023-06-11 Listed $167,000 IAR
• 2007-06-21 Sold (Public Records) $61,000 Public Records

Property tax history

+3.8%/yr

Latest (2025): $1,794 · +5.5% YoY. Source: county tax records.