304 S Elm St · Jefferson, IA 50129

$50,000

3 bd · 1.0 ba · 1,234 sqft · Other public records · 178 Days on market

Built 1894 9,240 sqft lot $41/sqft · 67% below area

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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 +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• 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

Calling all investors! Don’t miss this 3-bedroom, 1-bath bungalow located in the heart of Jefferson. Close to schools, shopping, and local conveniences, this property offers strong potential for rental or resale. Opportunities like this don’t last long—bring your offers!

Key facts

• 9,240 sq ft lot
• Garage
• Built 1894

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $50k.

Deal economics

• At list price, monthly cash flow is $514 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $50k).
• Recommended offer: $44k (12.0% below list) — sets the bar for market timing.
• Cap rate 18.6% vs local median 3.8% in Jefferson — 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 (#115 in IA, #2,186 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: employment C-, amenities F, commute F.
• Greene County Community School District (town): math 58% / reading 67% proficiency, ranked #223 of 289 in IA (top 77%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 56 active listings in the ZIP; 15 units permitted in Greene County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $346 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Greene County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 178 days — a 12% lower offer ($44k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 11y ago; this cycle's ask has dropped $39k (44%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $20k; list at $50k implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1894 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $44,000 (12.0% below list)

Questions for the listing agent

1. It's been on market 178 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 1894 — 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: 2.23% ✓
• Cap rate: 18.62%
• Cash-on-cash: 44.03%
• DSCR: 2.96
• GRM: 3.7

CMA / ARV

• ARV (median comp): $150,349
• List price: $50,000
• Delta: -66.74%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 41.0%
• Equity multiple: 2.76×
• Total profit: $24,645
• Equity at exit: $7,455

10-year hold

• IRR: 47.3%
• Equity multiple: 5.55×
• Total profit: $63,710
• Equity at exit: $4,323

Cash invested: $14,000 (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 50129

• Home prices YoY: -4.1%
• Active inventory: 56
• Price-to-rent: 3.7×

Monthly cashflow live

• Estimated rent: $1,113 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$83 /mo · $994/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$234
• Net cashflow: $514

Break-even live

Break-even rent $463

Max offer price $50,000

Occupancy floor 49%

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: $12,500
• Closing costs: $1,500
• Reserves months: —
• Total cash needed: —

Listing history 27 events

1. 2026-06-18
   days on market $50,000 Active 178 DOM
2. 2026-06-17
   days on market $50,000 Active 177 DOM
3. 2026-06-16
   days on market $50,000 Active 176 DOM
4. 2026-06-15
   days on market $50,000 Active 175 DOM
5. 2026-06-13
   days on market $50,000 Active 173 DOM
6. 2026-06-12
   days on market $50,000 Active 172 DOM
7. 2026-06-09
   days on market $50,000 Active 169 DOM
8. 2026-06-08
   days on market $50,000 Active 168 DOM
9. 2026-06-07
   days on market $50,000 Active 167 DOM
10. 2026-06-07
    days on market $50,000 Active 166 DOM
11. 2026-06-04
    days on market $50,000 Active 163 DOM
12. 2026-06-02
    days on market $50,000 Active 162 DOM
13. 2026-06-01
    days on market $50,000 Active 161 DOM
14. 2026-05-31
    days on market $50,000 Active 160 DOM
15. 2026-05-31
    days on market $50,000 Active 159 DOM
16. 2026-04-20
    price $50,000 289-char remark

    Show marketing remark (289 chars)

    Calling all investors! Don’t miss this 3-bedroom, 1-bath bungalow located in the heart of Jefferson. Close to schools, shopping, and local conveniences, this property offers strong potential for rental or resale. Opportunities like this don’t last long—bring your offers!

17. 2026-04-20
    price $50,000 289-char remark

    Show marketing remark (289 chars)

    Calling all investors! Don’t miss this 3-bedroom, 1-bath bungalow located in the heart of Jefferson. Close to schools, shopping, and local conveniences, this property offers strong potential for rental or resale. Opportunities like this don’t last long—bring your offers!

18. 2025-12-22
    listed $89,000 Active 289-char remark

    Show marketing remark (289 chars)

    Calling all investors! Don’t miss this 3-bedroom, 1-bath bungalow located in the heart of Jefferson. Close to schools, shopping, and local conveniences, this property offers strong potential for rental or resale. Opportunities like this don’t last long—bring your offers!

19. 2025-12-22
    listed $89,000 Active 289-char remark

    Show marketing remark (289 chars)

    Calling all investors! Don’t miss this 3-bedroom, 1-bath bungalow located in the heart of Jefferson. Close to schools, shopping, and local conveniences, this property offers strong potential for rental or resale. Opportunities like this don’t last long—bring your offers!

20. 2019-10-25
    historical
21. 2019-05-07
    listed $49,900
22. 2016-08-11
    historical
23. 2016-05-05
    listed $49,900
24. 2016-05-05
    listed $49,900
25. 2016-04-11
    listed $49,900
26. 2015-10-06
    listed $65,000
27. 2013-06-06
    soldstatus $20,000

ⓘ 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: $994 · $83/mo
• Projected year-2 tax: $994 · $83/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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) · 22% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°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: $13,361
• − Mortgage interest: −$2,801
• − Property taxes: −$994
• − Insurance: −$250
• − Repairs & maintenance: −$1,069
• − Management: −$1,069
• − Depreciation: −$1,455
• Taxable income: $5,724
• Est. tax owed @ 24.0%: −$1,374
• After-tax cash flow: $4,791/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: Greene County Community School District
• NCES district ID: 1915210
• Math proficiency: 58% ▼ -6.00%
• Reading proficiency: 67% ▲ 2.00%
• Median HH income: $46,051
• Composite: 52.74/100
• National rank: #1548
• State rank: #223 of 289 in IA

Livability — Jefferson

• Score: 79/100
• State rank: #115
• US rank: #2186

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: Jefferson, IA
• City population: 5,116
• Population (ZIP): 5,116

Population outlook (Greene County) Hauer SSP2

• Today (2025): 8,361 people
• By 2030: 8,090 · -3.2%
• By 2040: 7,607 · -9.0%
• By 2050: 7,186 · -14.1%
• By 2075: 6,528 · -21.9%
• By 2100: 5,799 · -30.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Portuguese 6% Lithuanian 4% Iranian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 3% German/W. Germanic 1%

Political lean MEDSL · Greene

• 2024 margin: Solid R (+33.0) · D 32.9% · R 65.9% · Other 1.2%
• 2008→2024 swing: -33.4pp toward R · 2008: 0.5pp · 2024: -33.0pp
• All cycles: 2024: R+33.0 2020: R+28.8 2016: R+23.8 2012: R+0.1 2008: D+0.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -10.16%
• Current HPI: 240.0907
• 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

+150.0% since first listed

12 events — show timeline

• 2026-04-20 Price Changed $50,000 IAR
• 2026-04-20 Price Changed $50,000 DMMLS
• 2025-12-22 Listed $89,000 DMMLS
• 2025-12-22 Listed $89,000 IAR
• 2019-10-25 Listing Removed — DMMLS
• 2019-05-07 Listed $49,900 DMMLS
• 2016-08-11 Listing Removed — NORTHSTARMLS as Distributed by MLS Grid
• 2016-05-05 Listed $49,900 NORTHSTARMLS as Distributed by MLS Grid
• 2016-05-05 Listed $49,900 IAR
• 2016-04-11 Listed $49,900 CIBOR
• 2015-10-06 Listed $65,000 CIBOR
• 2013-06-06 Sold (Public Records) $20,000 Public Records

Property tax history

+5.0%/yr

Latest (2025): $994 · +3.1% YoY. Source: county tax records.