208 W Dow St · Greene, IA 50636

$94,500

2 bd · 1.0 ba · 900 sqft · Other public records · 297 Days on market

Built 1900 7,200 sqft lot

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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 +17.6/30.0
• Appreciation +8.1/10.0
• ARV discount +7.5/15.0
• Schools +5.9/10.0
• DSCR +5.5/10.0
• 1% rule +4.0/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Step into this perfectly sized 2-bedroom home and discover a world of warmth, comfort, and opportunity. From the moment you arrive, the inviting curb appeal and classic charm set the tone. Though modest in size, this home offers so much more than meets the eye. The bright, cozy living area flows into a well-designed kitchen featuring plenty of cabinet space and a layout that makes cooking and entertaining a breeze. Two well-sized bedrooms offer peaceful retreats, walk in closet and a full unfinished basement opens the door to endless possibilities—family room, home theater, playroom, or creative studio…the choice is yours. And just wait until you step out back—your very o

Key facts

• Double garage
• Blocks from library
• Private patio

Tags

• WELL DESIGNED KITCHEN
• WALK IN CLOSET
• FULL UNFINISHED BASEMENT
• PRIVATE PATIO
• DOUBLE GARAGE
• BLOCKS FROM LIBRARY

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $94k.

Deal economics

• At list price, monthly cash flow is $75 ($899/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 $86k (9.5% below list).
• Recommended offer: $83k (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.
• 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 ($653 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 $26k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 6, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 297 days — a 12% lower offer ($83k) is reasonable based on typical stale-listing flexibility.
• Current owner paid $41k; list at $94k implies a 130% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $83,160 (12.0% below list)

Questions for the listing agent

1. It's been on market 297 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 1900 — 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: 0.90% ✗
• Cap rate: 7.24%
• Cash-on-cash: 3.40%
• DSCR: 1.15
• 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: 18.6%
• Equity multiple: 2.25×
• Total profit: $33,152
• Equity at exit: $60,594

10-year hold

• IRR: 18.0%
• Equity multiple: 4.53×
• Total profit: $93,455
• Equity at exit: $110,923

Cash invested: $26,460 (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: $855 medium
• Mortgage (P&I): −$496
• Tax from tax record: −$66 /mo · $788/yr
• Insurance: −$39
• HOA: −$0
• Vacancy / Maint / Mgmt: −$180
• Net cashflow: $75

Break-even live

Break-even rent $760

Max offer price $94,500

Occupancy floor 86%

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: $23,625
• Closing costs: $2,835
• Reserves months: —
• Total cash needed: —

Listing history 8 events

1. 2026-04-23
   status Pending
2. 2025-09-30
   price $94,500
3. 2025-09-05
   price $104,900
4. 2025-06-30
   listed $119,900 Active
5. 2014-06-06
   soldstatus $41,000
6. 2014-06-06
   soldstatus $41,000
7. 2012-06-28
   soldstatus $37,000
8. 2011-09-26
   soldstatus $34,000

ⓘ 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: $788 · $66/mo
• Projected year-2 tax: $1,136 · $95/mo
• Expected delta: +$348/yr (+$29/mo · 44.1%)

ⓘ 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 (shaded) · 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: $10,261
• − Mortgage interest: −$5,293
• − Property taxes: −$788
• − Insurance: −$472
• − Repairs & maintenance: −$821
• − Management: −$821
• − Depreciation: −$2,749
• Taxable loss: −$684
• Est. tax savings @ 24.0%: +$164
• After-tax cash flow: $1,063/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

+177.9% since first listed

8 events — show timeline

• 2026-04-23 Pending — NEIRBR as distributed by MLS GRID
• 2025-09-30 Price Changed $94,500 NEIRBR as distributed by MLS GRID
• 2025-09-05 Price Changed $104,900 NEIRBR as distributed by MLS GRID
• 2025-06-30 Listed $119,900 NEIRBR as distributed by MLS GRID
• 2014-06-06 Sold (Public Records) $41,000 Public Records
• 2014-06-06 Sold (Public Records) $41,000 Public Records
• 2012-06-28 Sold (Public Records) $37,000 Public Records
• 2011-09-26 Sold (Public Records) $34,000 Public Records

Property tax history

+1.9%/yr

Latest (2025): $788 · -3.2% YoY. Source: county tax records.