403 S 6th St · Fairfield, IA 52556

$119,000

5 bd · 1.5 ba · 1,600 sqft · SingleFamily public records · 9 Days on market

Built 1900 6,098 sqft lot $74/sqft · 15% below area Est $140k · 15% under

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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 +24.4/30.0
• ARV discount +14.4/15.0
• DSCR +7.9/10.0
• 1% rule +6.2/10.0
• 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

Located in Fairfield, this well-updated home offers 4 bedrooms and 2 full bathrooms, including a convenient main floor master suite. The updated kitchen and new flooring on the main level create a fresh, modern feel, while all new windows bring in great natural light and added efficiency. With spacious living areas and thoughtful updates throughout, this home is move-in ready. The heated 2-car garage adds comfort and functionality year-round. A great combination of style, space, and location—come take a look!

Key facts

• Heated garage
• New flooring
• Updated kitchen

Tags

• MAIN FLOOR MASTER SUITE
• UPDATED KITCHEN
• NEW FLOORING
• NEW WINDOWS
• HEATED GARAGE

Property features AI

Exterior

• Parking: Attached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Two-story single family residence; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Lot approximately 0.14 acres (55 x 107)

Interior

• Bathrooms: Two full bathrooms
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Basement

What this means for you Summary

Snapshot

• This is a 5-bed/1.5-bath single-family listed at $119k.

Deal economics

• At list price, monthly cash flow is $242 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $119k).
• Cap rate 8.7% vs local median 2.9% 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: 121 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 $823 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

• Only 9 days on market — expect competitive offers; lowballing is unlikely to land.
• 5 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 $80k; 49% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1900 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $119,000

Questions for the listing agent

1. Built in 1900 — 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 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?
4. 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.
5. 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.
6. 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: 1.12% ✓
• Cap rate: 8.73%
• Cash-on-cash: 8.71%
• DSCR: 1.39
• GRM: 7.4

CMA / ARV

• ARV (median comp): $140,460
• List price: $119,000
• Delta: -11.72%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
404 S 6th St	0.03mi	4/2.0 (-1)	1,831 (+14%)	22mo	$91,800	$50	49
509 E Adams Ave	0.74mi	4/1.0 (-1)	1,517 (-5%)	2mo	$118,000	$78	48
809 Grand Park Dr	0.69mi	4/1.5 (-1)	1,598 (-0%)	20mo	$165,000	$103	46
1207 S Main St	0.65mi	5/3.0	1,486 (-7%)	13mo	$272,000	$183	41
702 S 8th Street Cir	0.27mi	4/3.0 (-1)	1,374 (-14%)	15mo	$280,000	$204	40
505 S B St	0.48mi	5/2.5	1,407 (-12%)	16mo	$248,000	$176	40
909 S Main St	0.53mi	4/2.0 (-1)	1,804 (+13%)	9mo	$172,000	$95	40
1008 Sunny Ln	0.45mi	4/3.0 (-1)	1,738 (+9%)	24mo	$226,250	$130	34

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: -3.1%
• Equity multiple: 0.88×
• Total profit: $-3,867
• Equity at exit: $17,743

10-year hold

• IRR: 6.6%
• Equity multiple: 1.50×
• Total profit: $16,527
• Equity at exit: $10,289

Cash invested: $33,320 (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: 121
• Price-to-rent: 7.4×

Monthly cashflow live

• Estimated rent: $1,337 medium
• Mortgage (P&I): −$624
• Tax from tax record: −$141 /mo · $1,692/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$281
• Net cashflow: $242

Break-even live

Break-even rent $1,031

Max offer price $119,000

Occupancy floor 77%

Sensitivity live

Price	-10% $309	-5% $275	+0% $242	+5% $208	+10% $174
Rent	-10% $136	-5% $189	+0% $242	+5% $295	+10% $347
Rate	-1.0pp $302	-0.5pp $272	base $242	+0.5pp $211	+1.0pp $180

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: $29,750
• Closing costs: $3,570
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $119,000 Active 9 DOM
2. 2026-06-21
   days on market $119,000 Active 8 DOM
3. 2026-06-18
   days on market $119,000 Active 6 DOM
4. 2026-06-17
   days on market $119,000 Active 5 DOM
5. 2026-06-16
   days on market $119,000 Active 4 DOM
6. 2026-06-15
   days on market $119,000 Active 3 DOM
7. 2026-06-13
   pricedays on marketlisting id $119,000 Active 1 DOM
8. 2026-06-12
   days on market $124,000 Active 73 DOM
9. 2026-06-09
   days on market $124,000 Active 70 DOM
10. 2026-06-08
    days on market $124,000 Active 69 DOM
11. 2026-06-07
    days on market $124,000 Active 68 DOM
12. 2026-06-07
    days on market $124,000 Active 67 DOM
13. 2026-06-04
    days on market $124,000 Active 64 DOM
14. 2026-06-02
    days on market $124,000 Active 63 DOM
15. 2026-06-01
    days on market $124,000 Active 62 DOM
16. 2026-05-31
    days on market $124,000 Active 61 DOM
17. 2026-05-31
    days on market $124,000 Active 60 DOM
18. 2026-05-13
    status Active 520-char remark

    Show marketing remark (520 chars)

    Located in Fairfield, this well-updated home offers 4 bedrooms and 2 full bathrooms, including a convenient main floor master suite. The updated kitchen and new flooring on the main level create a fresh, modern feel, while all new windows bring in great natural light and added efficiency. With spacious living areas and thoughtful updates throughout, this home is move-in ready. The heated 2-car garage adds comfort and functionality year-round. A great combination of style, space, and location—come take a look!

19. 2026-04-06
    historical Active Under Contract 520-char remark

    Show marketing remark (520 chars)

    Located in Fairfield, this well-updated home offers 4 bedrooms and 2 full bathrooms, including a convenient main floor master suite. The updated kitchen and new flooring on the main level create a fresh, modern feel, while all new windows bring in great natural light and added efficiency. With spacious living areas and thoughtful updates throughout, this home is move-in ready. The heated 2-car garage adds comfort and functionality year-round. A great combination of style, space, and location—come take a look!

20. 2026-03-31
    listed $124,000 Active 520-char remark

    Show marketing remark (520 chars)

    Located in Fairfield, this well-updated home offers 4 bedrooms and 2 full bathrooms, including a convenient main floor master suite. The updated kitchen and new flooring on the main level create a fresh, modern feel, while all new windows bring in great natural light and added efficiency. With spacious living areas and thoughtful updates throughout, this home is move-in ready. The heated 2-car garage adds comfort and functionality year-round. A great combination of style, space, and location—come take a look!

21. 2026-02-24
    price $124,900
22. 2026-02-13
    listed $134,900 Active
23. 2017-09-21
    soldstatus $79,875
24. 2017-09-15
    soldstatus $80,000
25. 2016-06-23
    listed $85,000

ⓘ 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: $1,692 · $141/mo
• Projected year-2 tax: $1,780 · $148/mo
• Expected delta: +$88/yr (+$7/mo · 5.2%)

ⓘ 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: $16,047
• − Mortgage interest: −$6,666
• − Property taxes: −$1,692
• − Insurance: −$595
• − Repairs & maintenance: −$1,284
• − Management: −$1,284
• − Depreciation: −$3,462
• Taxable income: $1,065
• Est. tax owed @ 24.0%: −$256
• After-tax cash flow: $2,646/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

+40.0% since first listed

9 events — show timeline

• 2026-06-12 Listed $119,000 IAR
• 2026-05-13 Relisted — IAR
• 2026-04-06 Contingent — IAR
• 2026-03-31 Listed $124,000 IAR
• 2026-02-24 Price Changed $124,900 IAR
• 2026-02-13 Listed $134,900 IAR
• 2017-09-21 Sold (Public Records) $79,875 Public Records
• 2017-09-15 Sold (MLS) $80,000 IAR
• 2016-06-23 Listed $85,000 IAR

Property tax history

+3.3%/yr

Latest (2025): $1,692 · +5.4% YoY. Source: county tax records.