220 W Traer St. St · Greene, IA 50636

$60,000

3 bd · 1.5 ba · 1,270 sqft · Other public records · 47 Days on market

Built 1890 9,000 sqft lot $47/sqft · 18% below area Est $73k · 18% under

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Why this score? — see what drove the A 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Appreciation +8.1/10.0
• Schools +5.9/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Attention, attention investors!! This property is priced to sell. Main floor bedroom, 3/4 bathroom with shower, bonus room and laundry in kitchen. New roof this year. Permanent siding, great location with the pool and park in your backyard and a short walk to businesses. Attached to the house is a garage type storage room. The large heated quanset garage was previously a shop. All the plumbing in the 2nd floor bathroom has been taken out. Look here for an opportunity!

Key facts

• Oversized det garage
• Great location
• Pool

Tags

• GREAT LOCATION
• PARKS
• POOL
• LIBRARY
• OVERSIZED DET GARAGE

Property features AI

Exterior

• Parking: Carport with 3 spaces; Oversized detached garage with workshop
• Utilities: Public water; Public sewer
• Home design: Residential single-family home; R-1 zoning
• Construction: Vinyl siding; Asphalt roof; Basement present
• Exterior features: Alley access with paved road surface

Interior

• Kitchen: Free-standing range; Refrigerator
• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Forced air heating; Gravity heating; Natural gas heating; No cooling
• Interior features: Eat-in kitchen; Basement with interior entry
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath other listed at $60k.

Deal economics

• At list price, monthly cash flow is $480 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $60k).
• Recommended offer: $58k (3.0% 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) — zoned schools at 30% 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 $4k of equity ($415 loan paydown + $4k 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 $17k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 8, paydown + projected appreciation supports a ~$32k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 47 days — a 3% lower offer ($58k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 10y 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.
• Current owner paid $16k; list at $60k implies a 270% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1890 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $58,200 (3.0% below list)

Questions for the listing agent

1. It's been on market 47 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 1890 — 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 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?
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: 1.87% ✓
• Cap rate: 15.90%
• Cash-on-cash: 34.30%
• DSCR: 2.53
• GRM: 4.5

CMA / ARV

• ARV (median comp): $73,434
• List price: $60,000
• Delta: -18.29%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

6.2% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 44.9%
• Equity multiple: 3.89×
• Total profit: $48,624
• Equity at exit: $38,472

10-year hold

• IRR: 41.8%
• Equity multiple: 8.08×
• Total profit: $118,924
• Equity at exit: $70,427

Cash invested: $16,800 (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: 4.5×

Monthly cashflow live

• Estimated rent: $1,122 medium
• Mortgage (P&I): −$315
• Tax from tax record: −$67 /mo · $800/yr
• Insurance: −$25
• HOA: −$0
• Vacancy / Maint / Mgmt: −$236
• Net cashflow: $480

Break-even live

Break-even rent $514

Max offer price $60,000

Occupancy floor 52%

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: $15,000
• Closing costs: $1,800
• Reserves months: —
• Total cash needed: —

Listing history 21 events

1. 2026-06-18
   days on market $60,000 Active 47 DOM
2. 2026-06-17
   days on market $60,000 Active 46 DOM
3. 2026-06-16
   days on market $60,000 Active 45 DOM
4. 2026-06-15
   days on market $60,000 Active 44 DOM
5. 2026-06-13
   days on market $60,000 Active 42 DOM
6. 2026-06-12
   days on market $60,000 Active 41 DOM
7. 2026-06-09
   days on market $60,000 Active 38 DOM
8. 2026-06-08
   days on market $60,000 Active 37 DOM
9. 2026-06-07
   days on market $60,000 Active 36 DOM
10. 2026-06-07
    remarks 341-char remark
11. 2026-06-07
    days on market $60,000 Active 35 DOM
12. 2026-06-04
    days on market $60,000 Active 32 DOM
13. 2026-06-02
    remarks 311-char remark
14. 2026-06-02
    days on market $60,000 Active 31 DOM
15. 2026-06-01
    days on market $60,000 Active 30 DOM
16. 2026-05-31
    days on market $60,000 Active 29 DOM
17. 2026-05-31
    days on market $60,000 Active 28 DOM
18. 2026-05-01
    listed $60,000 Active 208-char remark
19. 2016-10-18
    soldstatus $16,225
20. 2016-10-14
    soldstatus $16,500 473-char remark

    Show marketing remark (473 chars)

    Attention, attention investors!! This property is priced to sell. Main floor bedroom, 3/4 bathroom with shower, bonus room and laundry in kitchen. New roof this year. Permanent siding, great location with the pool and park in your backyard and a short walk to businesses. Attached to the house is a garage type storage room. The large heated quanset garage was previously a shop. All the plumbing in the 2nd floor bathroom has been taken out. Look here for an opportunity!

21. 2016-08-08
    listed $19,000 473-char remark

    Show marketing remark (473 chars)

    Attention, attention investors!! This property is priced to sell. Main floor bedroom, 3/4 bathroom with shower, bonus room and laundry in kitchen. New roof this year. Permanent siding, great location with the pool and park in your backyard and a short walk to businesses. Attached to the house is a garage type storage room. The large heated quanset garage was previously a shop. All the plumbing in the 2nd floor bathroom has been taken out. Look here for an opportunity!

ⓘ 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: $800 · $67/mo
• Projected year-2 tax: $871 · $73/mo
• Expected delta: +$71/yr (+$6/mo · 8.9%)

ⓘ 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 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: $13,465
• − Mortgage interest: −$3,361
• − Property taxes: −$800
• − Insurance: −$300
• − Repairs & maintenance: −$1,077
• − Management: −$1,077
• − Depreciation: −$1,745
• Taxable income: $5,104
• Est. tax owed @ 24.0%: −$1,225
• After-tax cash flow: $4,537/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

+215.8% since first listed

4 events — show timeline

• 2026-05-01 Listed $60,000 NEIRBR as distributed by MLS GRID
• 2016-10-18 Sold (Public Records) $16,225 Public Records
• 2016-10-14 Sold (MLS) $16,500 NEIRBR as distributed by MLS GRID
• 2016-08-08 Listed $19,000 NEIRBR as distributed by MLS GRID

Property tax history

+6.2%/yr

Latest (2025): $800 · -3.8% YoY. Source: county tax records.