307 Howard St · Rippey, IA 50235

$50,000

2 bd · 1.0 ba · 714 sqft · Other public records · 3 Days on market

Built 1859 8,712 sqft lot ↓ 17% 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
• Appreciation +8.1/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks

Enjoy small town charm with big perks! This home offers plenty of land and yard space for outdoor living, a shed for storage or hobbies, and a newer roof for peace of mind. Inside, you'11 find comfortable living with 3 bedrooms (including a flexible third room perfect for an office, playroom, or whatever you need). Easy access to Perry & Jefferson - making it a wonderful place to call home. Schedule your showing today and see the possibilities!

Key facts

• Shed for storage
• Plenty of land
• Newer roof

Tags

• PLENTY OF LAND
• YARD SPACE
• SHED FOR STORAGE
• NEWER ROOF
• FLEXIBLE THIRD ROOM

Property features AI

Exterior

• Utilities: Public water; Public sewer
• Home design: Resale property
• Construction: Vinyl siding; Asphalt shingle roof; Poured foundation; Built on approximately 0.2 acre lot
• Exterior features: Corner lot; Concrete road access; Lot dimensions approximately 66 x 132

Interior

• Kitchen: Refrigerator; Stove
• Bedrooms: 2 main-level bedrooms
• Bathrooms: 1 full bathroom
• Heating & cooling: Gas (natural gas) heating; Central air conditioning
• Interior features: Eat-in kitchen
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $50k.

Deal economics

• At list price, monthly cash flow is $394 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($888 rent vs $50k).

Location & tenants

• Location reads 61/100 on livability (#799 in IA) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing B+; Watch: crime D+, schools F, amenities 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: 4 active listings in the ZIP; 15 units permitted in Greene County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $3k of equity ($346 loan paydown + $3k appreciation (6.3% local appreciation)).
• Greene County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.3% appreciation + 3.0% rent growth), your $14k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 3 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts 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: built in 1859 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $50,000

Questions for the listing agent

1. Built in 1859 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is D in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
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: 15.75%
• Cash-on-cash: 33.78%
• DSCR: 2.50
• GRM: 4.7

CMA / ARV

No comps found within radius.

Projected returns pro-forma

6.28% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 44.6%
• Equity multiple: 3.88×
• Total profit: $40,357
• Equity at exit: $32,316

10-year hold

• IRR: 41.4%
• Equity multiple: 8.06×
• Total profit: $98,828
• Equity at exit: $59,382

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 50235

• Home prices YoY: 3.5%
• Active inventory: 4
• Price-to-rent: 4.7×

Monthly cashflow live

• Estimated rent: $888 medium
• Mortgage (P&I): −$262
• Tax from tax record: −$24 /mo · $294/yr
• Insurance: −$21
• HOA: −$0
• Vacancy / Maint / Mgmt: −$187
• Net cashflow: $394

Break-even live

Break-even rent $389

Max offer price $50,000

Occupancy floor 51%

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 4 events

1. 2026-06-18
   days on market $50,000 Active 3 DOM
2. 2026-06-17
   days on market $50,000 Active 2 DOM
3. 2026-06-16
   remarks 450-char remark
4. 2026-06-16
   listed $50,000 Active 1 DOM

ⓘ 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: $294 · $24/mo
• Projected year-2 tax: $540 · $45/mo
• Expected delta: +$246/yr (+$20/mo · 83.5%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 3/10 Moderate FEMA zone X (unshaded) · 20% chance over 30 yrs
• 🔥 Wildfire 2/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°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: $10,658
• − Mortgage interest: −$2,801
• − Property taxes: −$294
• − Insurance: −$250
• − Repairs & maintenance: −$853
• − Management: −$853
• − Depreciation: −$1,455
• Taxable income: $4,153
• Est. tax owed @ 24.0%: −$997
• After-tax cash flow: $3,732/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 — Rippey

• Score: 61/100
• State rank: #799
• US rank: #18177

Category grades

Amenities F Commute F Cost of living A+ Crime D+ Employment F Housing B+ Health & safety D- User ratings A+

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Rippey, IA
• Population (ZIP): 438

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 (94%)
• Race & ethnicity: White 94% Two or more races 4% Asian 2%
• Common ancestry: Lithuanian 2% Italian 1%
• Foreign-born: 2% · South Korea

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: ▲ 6.28%
• Current HPI: 184.0809
• 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

-16.7% since first listed

6 events — show timeline

• 2026-06-15 Listed $50,000 DMMLS
• 2026-04-09 Listing Removed — DMMLS
• 2026-03-17 Relisted — DMMLS
• 2026-03-17 Price Changed $50,000 DMMLS
• 2026-01-30 Listing Removed — DMMLS
• 2025-09-30 Listed $60,000 DMMLS

Property tax history

+4.5%/yr

Latest (2025): $294 · -2.6% YoY. Source: county tax records.