305 S 2nd St St · Greene, IA 50636

$139,000

5 bd · 1.5 ba · 1,838 sqft · Other public records · 189 Days on market

Built 1905 0.28 ac lot $76/sqft · 14% above area Est $122k · 14% over

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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 +20.0/30.0
• Appreciation +8.1/10.0
• DSCR +6.3/10.0
• Schools +5.9/10.0
• 1% rule +4.5/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +1.4/15.0

Listing remarks MLS

Spacious 4 bed, 2 bath home with nearly 1,900 sq ft of living space right in the heart of Greene! This classic 1905 two story offers the room you’ve been looking for — large bedrooms, generous living areas, and a layout that gives everyone space to spread out. The main level features a bright living room, formal dining, and an oversized kitchen ready for your personal touch. Upstairs, you’ll find four bedrooms and a full bath — perfect for a growing household, guests, or a dedicated home office. Outside, enjoy a 0.28 acre lot, mature trees, and plenty of room for gardening, pets, or outdoor entertaining. With 1,838 sq ft, this home offers incredible value for the space. Bring your ideas and make this charming property your own! Seller will consider sharing of closing costs - Quick possession available!

Key facts

• Metal roof
• Large fenced yard
• Newer appliances

Tags

• TWO-STORY LAYOUT
• LARGE FENCED YARD
• METAL ROOF
• NEWER APPLIANCES
• DECK

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath other listed at $139k.

Deal economics

• At list price, monthly cash flow is $171 ($2k/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 $132k (5.3% below list).
• Recommended offer: $122k (12.0% below list) — sets the bar for market timing.

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.
• 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 $10k of equity ($961 loan paydown + $9k 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 $39k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 189 days — a 12% lower offer ($122k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago; this cycle's ask has dropped $20k (13%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $70k; list at $139k implies a 99% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1905 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $122,320 (12.0% below list)

Questions for the listing agent

1. It's been on market 189 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 1905 — 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: 0.95% ✗
• Cap rate: 7.77%
• Cash-on-cash: 5.28%
• DSCR: 1.23
• GRM: 8.8

CMA / ARV

• ARV (median comp): $122,447
• List price: $139,000
• Delta: 13.52%
• Verdict: OVERPRICED
• Comps: 18 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 20.1%
• Equity multiple: 2.35×
• Total profit: $52,634
• Equity at exit: $89,127

10-year hold

• IRR: 19.3%
• Equity multiple: 4.75×
• Total profit: $145,795
• Equity at exit: $163,157

Cash invested: $38,920 (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: 8.8×

Monthly cashflow live

• Estimated rent: $1,316 medium
• Mortgage (P&I): −$729
• Tax from tax record: −$82 /mo · $980/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$276
• Net cashflow: $171

Break-even live

Break-even rent $1,099

Max offer price $139,000

Occupancy floor 82%

Sensitivity live

Price	-10% $250	-5% $210	+0% $171	+5% $132	+10% $92
Rent	-10% $67	-5% $119	+0% $171	+5% $223	+10% $275
Rate	-1.0pp $241	-0.5pp $206	base $171	+0.5pp $135	+1.0pp $98

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: $34,750
• Closing costs: $4,170
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-21
   days on market $139,000 Active 189 DOM
2. 2026-06-18
   days on market $139,000 Active 187 DOM
3. 2026-06-17
   days on market $139,000 Active 186 DOM
4. 2026-06-16
   days on market $139,000 Active 185 DOM
5. 2026-06-15
   days on market $139,000 Active 184 DOM
6. 2026-06-13
   days on market $139,000 Active 182 DOM
7. 2026-06-12
   days on market $139,000 Active 181 DOM
8. 2026-06-09
   days on market $139,000 Active 178 DOM
9. 2026-06-08
   days on market $139,000 Active 177 DOM
10. 2026-06-07
    days on market $139,000 Active 176 DOM
11. 2026-06-07
    days on market $139,000 Active 175 DOM
12. 2026-06-04
    days on market $139,000 Active 172 DOM
13. 2026-06-02
    days on market $139,000 Active 171 DOM
14. 2026-06-01
    days on market $139,000 Active 170 DOM
15. 2026-05-31
    days on market $139,000 Active 169 DOM
16. 2026-05-31
    days on market $139,000 Active 168 DOM
17. 2026-05-12
    price $139,000 837-char remark

    Show marketing remark (837 chars)

    Spacious 4 bed, 2 bath home with nearly 1,900 sq ft of living space right in the heart of Greene! This classic 1905 two story offers the room you’ve been looking for — large bedrooms, generous living areas, and a layout that gives everyone space to spread out. The main level features a bright living room, formal dining, and an oversized kitchen ready for your personal touch. Upstairs, you’ll find four bedrooms and a full bath — perfect for a growing household, guests, or a dedicated home office. Outside, enjoy a 0.28 acre lot, mature trees, and plenty of room for gardening, pets, or outdoor entertaining. With 1,838 sq ft, this home offers incredible value for the space. Bring your ideas and make this charming property your own! Seller will consider sharing of closing costs - Quick possession available!

18. 2026-02-09
    price $145,000 837-char remark

    Show marketing remark (837 chars)

    Spacious 4 bed, 2 bath home with nearly 1,900 sq ft of living space right in the heart of Greene! This classic 1905 two story offers the room you’ve been looking for — large bedrooms, generous living areas, and a layout that gives everyone space to spread out. The main level features a bright living room, formal dining, and an oversized kitchen ready for your personal touch. Upstairs, you’ll find four bedrooms and a full bath — perfect for a growing household, guests, or a dedicated home office. Outside, enjoy a 0.28 acre lot, mature trees, and plenty of room for gardening, pets, or outdoor entertaining. With 1,838 sq ft, this home offers incredible value for the space. Bring your ideas and make this charming property your own! Seller will consider sharing of closing costs - Quick possession available!

19. 2025-12-13
    listed $159,000 Active 837-char remark

    Show marketing remark (837 chars)

    Spacious 4 bed, 2 bath home with nearly 1,900 sq ft of living space right in the heart of Greene! This classic 1905 two story offers the room you’ve been looking for — large bedrooms, generous living areas, and a layout that gives everyone space to spread out. The main level features a bright living room, formal dining, and an oversized kitchen ready for your personal touch. Upstairs, you’ll find four bedrooms and a full bath — perfect for a growing household, guests, or a dedicated home office. Outside, enjoy a 0.28 acre lot, mature trees, and plenty of room for gardening, pets, or outdoor entertaining. With 1,838 sq ft, this home offers incredible value for the space. Bring your ideas and make this charming property your own! Seller will consider sharing of closing costs - Quick possession available!

20. 2025-09-06
    price $159,000
21. 2025-08-20
    price $169,000
22. 2025-06-19
    price $179,500
23. 2025-06-01
    listed $187,500 Active
24. 2022-07-22
    soldstatus $70,000
25. 2022-07-21
    soldstatus $70,000
26. 2022-03-25
    listed $79,900

ⓘ 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: $980 · $82/mo
• Projected year-2 tax: $1,581 · $132/mo
• Expected delta: +$601/yr (+$50/mo · 61.3%)

ⓘ 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 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: $15,791
• − Mortgage interest: −$7,786
• − Property taxes: −$980
• − Insurance: −$695
• − Repairs & maintenance: −$1,263
• − Management: −$1,263
• − Depreciation: −$4,044
• Taxable loss: −$240
• Est. tax savings @ 24.0%: +$58
• After-tax cash flow: $2,111/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

+74.0% since first listed

10 events — show timeline

• 2026-05-12 Price Changed $139,000 NEIRBR as distributed by MLS GRID
• 2026-02-09 Price Changed $145,000 NEIRBR as distributed by MLS GRID
• 2025-12-13 Listed $159,000 NEIRBR as distributed by MLS GRID
• 2025-09-06 Price Changed $159,000 Greater Mason BOR
• 2025-08-20 Price Changed $169,000 Greater Mason BOR
• 2025-06-19 Price Changed $179,500 Greater Mason BOR
• 2025-06-01 Listed $187,500 Greater Mason BOR
• 2022-07-22 Sold (Public Records) $70,000 Public Records
• 2022-07-21 Sold (MLS) $70,000 NEIRBR as distributed by MLS GRID
• 2022-03-25 Listed $79,900 NEIRBR as distributed by MLS GRID

Property tax history

+3.6%/yr

Latest (2025): $980 · -3.9% YoY. Source: county tax records.