304 E Kirkwood Ave Ave · Fairfield, IA 52556

$117,500

3 bd · 2.0 ba · 1,308 sqft · SingleFamily public records · 39 Days on market

Built 1929 5,940 sqft lot $90/sqft · 12% below area Est $134k · 12% under ↓ 32% since listing

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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 +21.8/30.0
• ARV discount +13.0/15.0
• DSCR +7.0/10.0
• 1% rule +5.8/10.0
• 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

Charming Craftsman-style home full of character and ready for new owners! This home features original hardwood floors and beautifully preserved woodwork, along with French doors, a cozy fireplace, and a galley-style kitchen. The main level offers 2 bedrooms and 1 full bathroom. The upper level includes a separate entrance to an efficiency apartment with 1 bedroom and 1 bathroom—perfect for generating additional income or accommodating guests. If you’re looking for a home with charm and potential, this is one to add to your list!

Key facts

• Galley-style kitchen
• Craftsman-style home
• French doors

Tags

• CRAFTSMAN-STYLE HOME
• ORIGINAL HARDWOOD FLOORS
• BEAUTIFULLY PRESERVED WOODWORK
• FRENCH DOORS
• COZY FIREPLACE
• GALLEY-STYLE KITCHEN

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $118k.

Deal economics

• At list price, monthly cash flow is $184 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $118k).
• Recommended offer: $114k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.2% vs local median 3.0% 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.
• Market conditions: 120 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 $812 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 39 days — a 3% lower offer ($114k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $7k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $113,975 (3.0% below list)

Questions for the listing agent

1. It's been on market 39 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1929 — 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. 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.
6. 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.
7. 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: 1.08% ✓
• Cap rate: 8.17%
• Cash-on-cash: 6.70%
• DSCR: 1.30
• GRM: 7.7

CMA / ARV

• ARV (median comp): $133,965
• List price: $117,500
• Delta: -12.29%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
304 E Kirkwood Ave Ave	0.00mi	3/2.0	1,308 (0%)	0mo	$105,000	$80	100
501 E Burlington Ave	0.42mi	2/1.5 (-1)	1,399 (+7%)	1mo	$183,750	$131	61
302 W Stone Ave	0.40mi	3/2.0	1,423 (+9%)	7mo	$170,000	$119	61
504 N Main St	0.25mi	3/1.0	1,491 (+14%)	0mo	$60,000	$40	60
305 W Jefferson Ave	0.73mi	3/2.5	1,308 (0%)	9mo	$180,000	$138	57
701 E Lowe Ave #204	0.23mi	3/2.0	1,129 (-14%)	15mo	$53,500	$47	54
304 W Adams Ave	0.70mi	3/2.0	1,388 (+6%)	6mo	$141,500	$102	52
706 E Burlington Ave	0.52mi	3/1.0	1,152 (-12%)	1mo	$135,000	$117	51
103 W Washington Ave	0.55mi	3/2.5	1,474 (+13%)	6mo	$182,500	$124	46
108 E Adams Ave	0.58mi	3/1.0	1,142 (-13%)	12mo	$50,000	$44	38
504 S D St	0.71mi	3/1.0	1,168 (-11%)	9mo	$149,000	$128	38
1000 Pleasant Plain Rd #202	0.56mi	2/1.5 (-1)	1,136 (-13%)	13mo	$175,000	$154	35

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: -6.0%
• Equity multiple: 0.78×
• Total profit: $-7,322
• Equity at exit: $17,520

10-year hold

• IRR: 3.7%
• Equity multiple: 1.27×
• Total profit: $8,772
• Equity at exit: $10,159

Cash invested: $32,900 (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: 120
• Price-to-rent: 7.7×

Monthly cashflow live

• Estimated rent: $1,265 medium
• Mortgage (P&I): −$616
• Tax from tax record: −$150 /mo · $1,806/yr
• Insurance: −$49
• HOA: −$0
• Vacancy / Maint / Mgmt: −$266
• Net cashflow: $184

Break-even live

Break-even rent $1,032

Max offer price $117,500

Occupancy floor 80%

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: $29,375
• Closing costs: $3,525
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-19
   price $117,500 546-char remark

   Show marketing remark (546 chars)

   Charming Craftsman-style home full of character and ready for new owners! This home features original hardwood floors and beautifully preserved woodwork, along with French doors, a cozy fireplace, and a galley-style kitchen. The main level offers 2 bedrooms and 1 full bathroom. The upper level includes a separate entrance to an efficiency apartment with 1 bedroom and 1 bathroom—perfect for generating additional income or accommodating guests. If you’re looking for a home with charm and potential, this is one to add to your list!

2. 2026-04-16
   listed $124,500 Active 546-char remark

   Show marketing remark (546 chars)

   Charming Craftsman-style home full of character and ready for new owners! This home features original hardwood floors and beautifully preserved woodwork, along with French doors, a cozy fireplace, and a galley-style kitchen. The main level offers 2 bedrooms and 1 full bathroom. The upper level includes a separate entrance to an efficiency apartment with 1 bedroom and 1 bathroom—perfect for generating additional income or accommodating guests. If you’re looking for a home with charm and potential, this is one to add to your list!

3. 2025-10-10
   price $139,900
4. 2025-08-29
   price $154,000
5. 2025-08-09
   price $159,000
6. 2025-05-20
   price $167,000
7. 2025-04-30
   listed $172,000 Active

ⓘ 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: $1,806 · $150/mo
• Projected year-2 tax: $1,825 · $152/mo
• Expected delta: +$19/yr (+$2/mo · 1.1%)

ⓘ 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 (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 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: $15,179
• − Mortgage interest: −$6,582
• − Property taxes: −$1,806
• − Insurance: −$588
• − Repairs & maintenance: −$1,214
• − Management: −$1,214
• − Depreciation: −$3,418
• Taxable income: $357
• Est. tax owed @ 24.0%: −$86
• After-tax cash flow: $2,118/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

-31.7% since first listed

7 events — show timeline

• 2026-05-19 Price Changed $117,500 IAR
• 2026-04-16 Listed $124,500 IAR
• 2025-10-10 Price Changed $139,900 IAR
• 2025-08-29 Price Changed $154,000 IAR
• 2025-08-09 Price Changed $159,000 IAR
• 2025-05-20 Price Changed $167,000 IAR
• 2025-04-30 Listed $172,000 IAR

Property tax history

+2.1%/yr

Latest (2025): $1,806 · +4.8% YoY. Source: county tax records.