312 S Main St · Buffalo Center, IA 50424

$21,500

3 bd · 1.5 ba · 1,347 sqft · SingleFamily public records · 209 Days on market

Built 1927 4,950 ac lot $16/sqft · 81% below area ↓ 12% 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 +15.0/30.0
• Appreciation +8.4/10.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Schools +4.9/10.0
• Livability +3.8/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Bring me back to life. A sturdy 3 bedroom, 1 bath house on the south side of Buffalo Center. New roof installed, now it's time fix the rest. There's a detached 1 stall garage along with a 3-season room on the back of the house. Open living space on the main floor, 3 bedrooms and a large bathroom on the second floor. A true equity builder offered at an appealing price. Property is sold 'AS IS' with all contents on site at closing.

Key facts

• 3 season room
• Open living space
• New roof

Tags

• NEW ROOF
• DETACHED GARAGE
• 3 SEASON ROOM
• OPEN LIVING SPACE

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $22k.

Deal economics

• At list price, monthly cash flow is $709 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $22k).
• Recommended offer: $19k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 75/100 on livability (#227 in IA, #4,313 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: amenities F, commute F, employment F.
• North Iowa Community School District (rural): math 56% / reading 60% proficiency, ranked #252 of 289 in IA (top 87%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 12 active listings in the ZIP; 6 units permitted in Winnebago County in 2024 (0 in 5+ unit buildings).

Forward outlook

• In year one you build about $2k of equity ($149 loan paydown + $1k appreciation (6.8% local appreciation)).
• Winnebago County population projected at -10% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (6.8% appreciation + 3.0% rent growth), your $6k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 209 days — a 12% lower offer ($19k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 4.6% of price; built in 1927 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $18,920 (12.0% below list)

Questions for the listing agent

1. It's been on market 209 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 1927 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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?
7. 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.
8. 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.
9. 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: 5.38% ✓
• Cap rate: 45.84%
• Cash-on-cash: 141.25%
• DSCR: 7.28
• GRM: 1.5

CMA / ARV

• ARV (median comp): $115,272
• List price: $21,500
• Delta: -81.35%
• Verdict: UNDERPRICED
• Comps: 16 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
204 2nd St NE	0.27mi	3/2.0	1,312 (-3%)	5mo	$109,000	$83	77
410 2nd Ave NW	0.36mi	3/2.5	1,238 (-8%)	13mo	$84,500	$68	55
616 1st St NE	0.63mi	4/1.5 (+1)	1,383 (+3%)	19mo	$86,000	$62	46

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

6.8% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 9.71×
• Total profit: $52,432
• Equity at exit: $14,624

10-year hold

• IRR: —
• Equity multiple: 20.73×
• Total profit: $118,768
• Equity at exit: $27,532

Cash invested: $6,020 (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 50424

• Home prices YoY: 5.3%
• Active inventory: 12
• Price-to-rent: 1.5×

Monthly cashflow live

• Estimated rent: $1,156 medium
• Mortgage (P&I): −$113
• Tax from tax record: −$83 /mo · $998/yr
• Insurance: −$9
• HOA: −$0
• Vacancy / Maint / Mgmt: −$243
• Net cashflow: $709

Break-even live

Break-even rent $259

Max offer price $21,500

Occupancy floor 34%

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: $5,375
• Closing costs: $645
• Reserves months: —
• Total cash needed: —

Listing history 17 events

1. 2026-06-18
   days on market $21,500 Active 209 DOM
2. 2026-06-17
   days on market $21,500 Active 208 DOM
3. 2026-06-16
   days on market $21,500 Active 207 DOM
4. 2026-06-15
   days on market $21,500 Active 206 DOM
5. 2026-06-13
   days on market $21,500 Active 204 DOM
6. 2026-06-12
   days on market $21,500 Active 203 DOM
7. 2026-06-09
   days on market $21,500 Active 200 DOM
8. 2026-06-08
   days on market $21,500 Active 199 DOM
9. 2026-06-07
   days on market $21,500 Active 198 DOM
10. 2026-06-05
    days on market $21,500 Active 196 DOM
11. 2026-06-04
    days on market $21,500 Active 194 DOM
12. 2026-06-02
    days on market $21,500 Active 193 DOM
13. 2026-06-01
    days on market $21,500 Active 192 DOM
14. 2026-05-31
    days on market $21,500 Active 191 DOM
15. 2026-05-31
    days on market $21,500 Active 190 DOM
16. 2026-03-31
    price $21,500 433-char remark

    Show marketing remark (433 chars)

    Bring me back to life. A sturdy 3 bedroom, 1 bath house on the south side of Buffalo Center. New roof installed, now it's time fix the rest. There's a detached 1 stall garage along with a 3-season room on the back of the house. Open living space on the main floor, 3 bedrooms and a large bathroom on the second floor. A true equity builder offered at an appealing price. Property is sold 'AS IS' with all contents on site at closing.

17. 2025-11-21
    listed $24,500 Active 433-char remark

    Show marketing remark (433 chars)

    Bring me back to life. A sturdy 3 bedroom, 1 bath house on the south side of Buffalo Center. New roof installed, now it's time fix the rest. There's a detached 1 stall garage along with a 3-season room on the back of the house. Open living space on the main floor, 3 bedrooms and a large bathroom on the second floor. A true equity builder offered at an appealing price. Property is sold 'AS IS' with all contents on site at closing.

ⓘ 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: $998 · $83/mo
• Projected year-2 tax: $998 · $83/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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥99°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: $13,875
• − Mortgage interest: −$1,204
• − Property taxes: −$998
• − Insurance: −$108
• − Repairs & maintenance: −$1,110
• − Management: −$1,110
• − Depreciation: −$625
• Taxable income: $8,720
• Est. tax owed @ 24.0%: −$2,093
• After-tax cash flow: $6,410/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 Iowa Community School District
• NCES district ID: 1905750
• Math proficiency: 56% ▬ 0.00%
• Reading proficiency: 60% ▼ -5.00%
• Median HH income: $48,123
• Composite: 49.23/100
• National rank: #2034
• State rank: #252 of 289 in IA

Livability — Buffalo Center

• Score: 75/100
• State rank: #227
• US rank: #4313

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Buffalo Center, IA
• Population (ZIP): 1,590

Population outlook (Winnebago County) Hauer SSP2

• Today (2025): 10,099 people
• By 2030: 9,831 · -2.7%
• By 2040: 9,326 · -7.7%
• By 2050: 9,073 · -10.2%
• By 2075: 9,448 · -6.4%
• By 2100: 10,279 · +1.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (96%)
• Race & ethnicity: White 96% Two or more races 2% Hispanic / Latino 2%
• Common ancestry: Portuguese 28% Iranian 14% Lithuanian 4%
• Foreign-born: 1% · Canada, Vietnam
• Languages at home: 95% English-only · Other Indo-European 2% Spanish 2% Vietnamese 1%

Political lean MEDSL · Winnebago

• 2024 margin: Solid R (+30.7) · D 33.9% · R 64.6% · Other 1.5%
• 2008→2024 swing: -39.3pp toward R · 2008: 8.6pp · 2024: -30.7pp
• All cycles: 2024: R+30.7 2020: R+26.3 2016: R+26.5 2012: R+0.0 2008: D+8.6

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 6.80%
• Current HPI: 134.7177
• 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

-12.2% since first listed

2 events — show timeline

• 2026-03-31 Price Changed $21,500 IAR
• 2025-11-21 Listed $24,500 IAR

Property tax history

+5.7%/yr

Latest (2025): $998 · +2.3% YoY. Source: county tax records.