507 N Bluff St · Greene, IA 50636

$98,900

2 bd · 1.0 ba · 1,000 sqft · Other · 14 Days on market

Built 1907

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Why this score? — see what drove the C- 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 +14.6/30.0
• Appreciation +8.1/10.0
• ARV discount +7.5/15.0
• Schools +5.9/10.0
• DSCR +4.5/10.0
• 1% rule +4.1/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Cute 2 Br/1Ba home located on 3 lots in a fantastic (and quiet) neighborhood. Tons of updates along with a totally remodeled bathroom. Comes with all appliances (several brand new). Central AC. Huge backyard with mature trees. Very large single stall garage with attached storage area. Utility shed also included. Incredibly efficient home. Would be a great starter home or for someone looking to downsize.

Key facts

• Remodeled bathroom
• Utility shed
• Huge backyard

Tags

• REMODELED BATHROOM
• HUGE BACKYARD
• MATURE TREES
• UTILITY SHED

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $99k.

Deal economics

• At list price, monthly cash flow is $24 ($284/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 $90k (9.5% below list).
• Recommended offer: $90k (9.5% below list) — sets the bar for 1% rule.

Location & tenants

• Location reads 78/100 on livability (#150 in IA, #2,761 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment C-, amenities F, commute F.
• North Butler Community School District (rural): math 68% / reading 71% proficiency, ranked #152 of 289 in IA (top 53%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: North Butler Elementary (math 77% / reading 72%, grade A, #131 of 616 statewide, top 27%, 296 students, 30% FRL); North Butler Jr/Sr High School (math 64% / reading 72%, grade B, #184 of 336 statewide, top 55%, 271 students, 25% FRL) — zoned schools at 27% FRL track the district average.
• Market conditions: 19 active listings in the ZIP; 32 units permitted in Butler County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $7k of equity ($684 loan paydown + $6k appreciation (6.2% local appreciation)).
• Butler County population projected to shrink 5% by 2050 — rents likely to lag national; underwrite the cash flow, not the appreciation.
• At projected returns (6.2% appreciation + 3.0% rent growth), your $28k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$30k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• Current owner paid $52k; list at $99k implies a 88% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1907 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $89,512 (9.5% below list)

Questions for the listing agent

1. Built in 1907 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
4. 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.
5. 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.
6. 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: 0.91% ✗
• Cap rate: 6.58%
• Cash-on-cash: 1.03%
• DSCR: 1.05
• GRM: 9.2

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.2% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 16.7%
• Equity multiple: 2.13×
• Total profit: $31,244
• Equity at exit: $63,415

10-year hold

• IRR: 16.5%
• Equity multiple: 4.27×
• Total profit: $90,450
• Equity at exit: $116,088

Cash invested: $27,692 (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 50636

• Home prices YoY: 2.5%
• Active inventory: 19
• Price-to-rent: 9.2×

Monthly cashflow live

• Estimated rent: $895 medium
• Mortgage (P&I): −$519
• Tax est. 1.5%: −$124 /mo · $1,484/yr
• Insurance: −$41
• HOA: −$0
• Vacancy / Maint / Mgmt: −$188
• Net cashflow: $24

Break-even live

Break-even rent $865

Max offer price $98,900

Occupancy floor 92%

Sensitivity live

Price	-10% $92	-5% $58	+0% $24	+5% $-11	+10% $-45
Rent	-10% $-47	-5% $-12	+0% $24	+5% $59	+10% $94
Rate	-1.0pp $73	-0.5pp $49	base $24	+0.5pp $-2	+1.0pp $-28

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: $24,725
• Closing costs: $2,967
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-06-22
   days on market $98,900 Active 14 DOM
2. 2026-06-21
   days on market $98,900 Active 13 DOM
3. 2026-06-21
   days on market $98,900 Active 12 DOM
4. 2026-06-18
   days on market $98,900 Active 10 DOM
5. 2026-06-17
   days on market $98,900 Active 9 DOM
6. 2026-06-16
   days on market $98,900 Active 8 DOM
7. 2026-06-15
   days on market $98,900 Active 7 DOM
8. 2026-06-13
   days on market $98,900 Active 5 DOM
9. 2026-06-12
   days on market $98,900 Active 4 DOM
10. 2026-06-09
    days on marketlisting id $98,900 Active 1 DOM
11. 2026-06-08
    days on market $98,900 Active 6 DOM
12. 2026-06-07
    days on market $98,900 Active 5 DOM
13. 2026-06-07
    days on market $98,900 Active 4 DOM
14. 2026-06-03
    remarks 406-char remark
15. 2026-06-03
    listed $98,900 Active 1 DOM

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

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥102°F today · 16 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: $10,741
• − Mortgage interest: −$5,540
• − Property taxes: −$1,484
• − Insurance: −$494
• − Repairs & maintenance: −$859
• − Management: −$859
• − Depreciation: −$2,877
• Taxable loss: −$1,372
• Est. tax savings @ 24.0%: +$329
• After-tax cash flow: $613/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: North Butler Community School District
• NCES district ID: 1903450
• Math proficiency: 68% ▼ -6.00%
• Reading proficiency: 71% ▲ 4.00%
• Median HH income: $50,162
• Composite: 58.96/100
• National rank: #966
• State rank: #152 of 289 in IA

Livability — Greene

• Score: 78/100
• State rank: #150
• US rank: #2761

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Greene, IA
• City population: 2,141
• Population (ZIP): 2,141

Population outlook (Butler County) Hauer SSP2

• Today (2025): 14,831 people
• By 2030: 14,748 · -0.6%
• By 2040: 14,456 · -2.5%
• By 2050: 14,079 · -5.1%
• By 2075: 13,041 · -12.1%
• By 2100: 10,935 · -26.3%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (94%)
• Race & ethnicity: White 94% Asian 4% Two or more races 1%
• Common ancestry: Slovak 3% Iranian 3% Portuguese 2%
• Foreign-born: 4% · Canada
• Languages at home: 95% English-only · Other Asian/Pacific 2% Tagalog/Filipino 2%

Political lean MEDSL · Butler

• 2024 margin: Solid R (+45.4) · D 26.7% · R 72.1% · Other 1.2%
• 2008→2024 swing: -40.7pp toward R · 2008: -4.7pp · 2024: -45.4pp
• All cycles: 2024: R+45.4 2020: R+38.5 2016: R+36.9 2012: R+10.4 2008: R+4.7

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.20%
• Current HPI: 249.8713
• 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

+88.4% since first listed

2 events — show timeline

• 2026-06-03 Listed $98,900 FSBO.com
• 2016-07-07 Sold (Public Records) $52,500 Public Records

Property tax history

+3.4%/yr

Latest (2025): $138 · -4.2% YoY. Source: county tax records.