201 W Washington Ave · Fairfield, IA 52556

$64,000

2 bd · 1.5 ba · 1,664 sqft · SingleFamily public records · 10 Days on market

Built 1863 4,356 sqft lot ↓ 7% since listing

---

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

This colonial home is in walking distance to the square, library and more. Main floor features large formal dining room open to bright kitchen, living room and den, half bath, and laundry. Upstairs - two spacious bedrooms and a full bath. Newer furnace, air conditioning, and hot water heater. Garden shed & private back yard complete this historic property. This property is zoned commercial.

Key facts

• Bright kitchen
• Private back yard
• Zoned commercial

Tags

• WALKING DISTANCE TO THE SQUARE
• LARGE FORMAL DINING ROOM
• BRIGHT KITCHEN
• PRIVATE BACK YARD
• ZONED COMMERCIAL

Property features AI

Exterior

• Parking: Storage
• Utilities: Public water; Public sewer
• Home design: Two levels; Single-family residence; Vinyl siding
• Construction: Vinyl siding
• Exterior features: Public water; Public sewer

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Interior features: Central air conditioning; Forced air heating

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $64k.

Deal economics

• At list price, monthly cash flow is $392 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $64k).
• Cap rate 13.6% 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 $442 of loan paydown is wiped out by about $2k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $18k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.

Risks & watch-outs

• Watch-outs: property tax is 2.7% of price; built in 1863 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $64,000

Questions for the listing agent

1. Built in 1863 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 1.78% ✓
• Cap rate: 13.65%
• Cash-on-cash: 26.26%
• DSCR: 2.17
• GRM: 4.7

CMA / ARV

• ARV (on-the-fly): $164,736
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
201 W Washington Ave	0.00mi	2/1.5	1,664 (0%)	0mo	$48,000	$29	100
102 E Madison Ave	0.27mi	2/1.5	1,670 (+0%)	6mo	$189,900	$114	82
405 W Adams Ave	0.19mi	3/1.5 (+1)	1,716 (+3%)	1mo	$177,500	$103	80
303 & 305 W Kirkwood Ave	0.51mi	3/2.0 (+1)	1,632 (-2%)	2mo	$129,000	$79	64
103 W Washington Ave	0.05mi	3/2.5 (+1)	1,474 (-11%)	6mo	$182,500	$124	64
407 E Lowe Ave	0.60mi	3/2.0 (+1)	1,648 (-1%)	0mo	$163,000	$99	63
504 N Main St	0.47mi	3/1.0 (+1)	1,491 (-10%)	0mo	$60,000	$40	54
1104 S 7th St	0.74mi	3/2.0 (+1)	1,651 (-1%)	5mo	$88,000	$53	53
905 S 5th St	0.52mi	3/2.0 (+1)	1,518 (-9%)	2mo	$200,000	$132	52
205 E Fillmore Ave	0.73mi	3/1.5 (+1)	1,578 (-5%)	1mo	$201,000	$127	51
603 N Court St	0.54mi	3/2.0 (+1)	1,897 (+14%)	1mo	$187,000	$99	44
1006 Sunny Ln	0.72mi	3/3.0 (+1)	1,814 (+9%)	0mo	$164,000	$90	40

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: 20.1%
• Equity multiple: 1.82×
• Total profit: $14,667
• Equity at exit: $9,543

10-year hold

• IRR: 28.4%
• Equity multiple: 3.52×
• Total profit: $45,171
• Equity at exit: $5,534

Cash invested: $17,920 (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 52556

• Home prices YoY: -15.1%
• Active inventory: 120
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $1,139 medium
• Mortgage (P&I): −$336
• Tax from tax record: −$145 /mo · $1,742/yr
• Insurance: −$27
• HOA: −$0
• Vacancy / Maint / Mgmt: −$239
• Net cashflow: $392

Break-even live

Break-even rent $642

Max offer price $64,000

Occupancy floor 61%

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: $16,000
• Closing costs: $1,920
• Reserves months: —
• Total cash needed: —

Listing history 3 events

1. 2026-05-31
   statusdays on market $64,000 Pending 10 DOM
2. 2026-05-19
   listed $64,000 Active
3. 2018-06-08
   listed $69,000

ⓘ 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: $1,742 · $145/mo
• Projected year-2 tax: $1,742 · $145/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 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $13,666
• − Mortgage interest: −$3,585
• − Property taxes: −$1,742
• − Insurance: −$320
• − Repairs & maintenance: −$1,093
• − Management: −$1,093
• − Depreciation: −$1,862
• Taxable income: $3,971
• Est. tax owed @ 24.0%: −$953
• After-tax cash flow: $3,754/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

-7.2% since first listed

2 events — show timeline

• 2026-05-19 Listed $64,000 IAR
• 2018-06-08 Listed $69,000 IAR

Property tax history

+0.1%/yr

Latest (2025): $1,742 · +4.7% YoY. Source: county tax records.