706 W Harrison St · Jefferson, IA 50129

$47,500

3 bd · 1.0 ba · 784 sqft · Other public records · 144 Days on market

Built 1899 7,392 sqft lot $61/sqft · 55% below area ↓ 39% since listing

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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 +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 MLS

Investment opportunity! This home offers 2 large bedrooms plus a bonus room perfect for an office or hobby space and a spacious bathroom. Sitting on a generous lot with alley access and a shed, there's room to enjoy outdoor space. Perfect for an investment rental, or maybe a first-time home buyer ready to add personal touches and build equity. Call today for a private tour.

Key facts

• Alley access
• Shed
• Bonus room

Tags

• BONUS ROOM
• ALLEY ACCESS
• OUTDOOR SPACE
• SHED

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath other listed at $48k.

Deal economics

• At list price, monthly cash flow is $442 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($962 rent vs $48k).
• Recommended offer: $42k (12.0% below list) — sets the bar for market timing.
• Cap rate 17.5% vs local median 3.9% in Jefferson — 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 (#115 in IA, #2,186 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, health & safety A+, crime A; Watch: employment C-, amenities F, commute 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: 56 active listings in the ZIP; 15 units permitted in Greene County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $328 of loan paydown is wiped out by about $1k of value loss. Plan a longer hold.
• Greene County population projected at -14% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $13k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 144 days — a 12% lower offer ($42k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 2y ago; this cycle's ask has dropped $15k (24%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1899 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $41,800 (12.0% below list)

Questions for the listing agent

1. It's been on market 144 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 1899 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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?
6. 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.
7. 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.
8. 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: 2.02% ✓
• Cap rate: 17.46%
• Cash-on-cash: 39.90%
• DSCR: 2.78
• GRM: 4.1

CMA / ARV

• ARV (median comp): $104,610
• List price: $47,500
• Delta: -54.59%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 36.2%
• Equity multiple: 2.54×
• Total profit: $20,475
• Equity at exit: $7,082

10-year hold

• IRR: 42.9%
• Equity multiple: 5.07×
• Total profit: $54,127
• Equity at exit: $4,107

Cash invested: $13,300 (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 50129

• Home prices YoY: -4.1%
• Active inventory: 56
• Price-to-rent: 4.1×

Monthly cashflow live

• Estimated rent: $962 medium
• Mortgage (P&I): −$249
• Tax from tax record: −$48 /mo · $582/yr
• Insurance: −$20
• HOA: −$0
• Vacancy / Maint / Mgmt: −$202
• Net cashflow: $442

Break-even live

Break-even rent $402

Max offer price $47,500

Occupancy floor 49%

Sensitivity live

Price	-10% $469	-5% $456	+0% $442	+5% $429	+10% $415
Rent	-10% $366	-5% $404	+0% $442	+5% $480	+10% $518
Rate	-1.0pp $466	-0.5pp $454	base $442	+0.5pp $430	+1.0pp $417

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: $11,875
• Closing costs: $1,425
• Reserves months: —
• Total cash needed: —

Listing history 24 events

1. 2026-06-21
   days on market $47,500 Active 144 DOM
2. 2026-06-18
   days on market $47,500 Active 142 DOM
3. 2026-06-17
   days on market $47,500 Active 141 DOM
4. 2026-06-16
   days on market $47,500 Active 140 DOM
5. 2026-06-15
   days on market $47,500 Active 139 DOM
6. 2026-06-13
   days on market $47,500 Active 137 DOM
7. 2026-06-12
   days on market $47,500 Active 136 DOM
8. 2026-06-09
   days on market $47,500 Active 133 DOM
9. 2026-06-08
   days on market $47,500 Active 132 DOM
10. 2026-06-07
    days on market $47,500 Active 131 DOM
11. 2026-06-07
    days on market $47,500 Active 130 DOM
12. 2026-06-04
    days on market $47,500 Active 127 DOM
13. 2026-06-02
    days on market $47,500 Active 126 DOM
14. 2026-06-01
    days on market $47,500 Active 125 DOM
15. 2026-05-31
    days on market $47,500 Active 124 DOM
16. 2026-05-31
    days on market $47,500 Active 123 DOM
17. 2026-04-30
    price $47,500 376-char remark

    Show marketing remark (376 chars)

    Investment opportunity! This home offers 2 large bedrooms plus a bonus room perfect for an office or hobby space and a spacious bathroom. Sitting on a generous lot with alley access and a shed, there's room to enjoy outdoor space. Perfect for an investment rental, or maybe a first-time home buyer ready to add personal touches and build equity. Call today for a private tour.

18. 2026-04-29
    price $50,500 376-char remark

    Show marketing remark (376 chars)

    Investment opportunity! This home offers 2 large bedrooms plus a bonus room perfect for an office or hobby space and a spacious bathroom. Sitting on a generous lot with alley access and a shed, there's room to enjoy outdoor space. Perfect for an investment rental, or maybe a first-time home buyer ready to add personal touches and build equity. Call today for a private tour.

19. 2026-04-02
    price $52,500 376-char remark

    Show marketing remark (376 chars)

    Investment opportunity! This home offers 2 large bedrooms plus a bonus room perfect for an office or hobby space and a spacious bathroom. Sitting on a generous lot with alley access and a shed, there's room to enjoy outdoor space. Perfect for an investment rental, or maybe a first-time home buyer ready to add personal touches and build equity. Call today for a private tour.

20. 2026-03-06
    price $57,500 376-char remark

    Show marketing remark (376 chars)

    Investment opportunity! This home offers 2 large bedrooms plus a bonus room perfect for an office or hobby space and a spacious bathroom. Sitting on a generous lot with alley access and a shed, there's room to enjoy outdoor space. Perfect for an investment rental, or maybe a first-time home buyer ready to add personal touches and build equity. Call today for a private tour.

21. 2026-01-27
    listed $62,500 Active 376-char remark

    Show marketing remark (376 chars)

    Investment opportunity! This home offers 2 large bedrooms plus a bonus room perfect for an office or hobby space and a spacious bathroom. Sitting on a generous lot with alley access and a shed, there's room to enjoy outdoor space. Perfect for an investment rental, or maybe a first-time home buyer ready to add personal touches and build equity. Call today for a private tour.

22. 2025-01-01
    historical
23. 2024-06-28
    listed $78,000 Active
24. 2024-06-28
    listed $78,000 Active

ⓘ 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: $582 · $48/mo
• Projected year-2 tax: $664 · $55/mo
• Expected delta: +$82/yr (+$7/mo · 14.1%)

ⓘ 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 4/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°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: $11,538
• − Mortgage interest: −$2,661
• − Property taxes: −$582
• − Insurance: −$238
• − Repairs & maintenance: −$923
• − Management: −$923
• − Depreciation: −$1,382
• Taxable income: $4,830
• Est. tax owed @ 24.0%: −$1,159
• After-tax cash flow: $4,147/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 — Jefferson

• Score: 79/100
• State rank: #115
• US rank: #2186

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: Jefferson, IA
• City population: 5,116
• Population (ZIP): 5,116

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 (93%)
• Race & ethnicity: White 93% Hispanic / Latino 4% Two or more races 4%
• Common ancestry: Portuguese 6% Lithuanian 4% Iranian 3%
• Foreign-born: 2% · Canada
• Languages at home: 97% English-only · Spanish 3% German/W. Germanic 1%

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: ▼ -10.16%
• Current HPI: 240.0907
• 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

-39.1% since first listed

8 events — show timeline

• 2026-04-30 Price Changed $47,500 IAR
• 2026-04-29 Price Changed $50,500 IAR
• 2026-04-02 Price Changed $52,500 IAR
• 2026-03-06 Price Changed $57,500 IAR
• 2026-01-27 Listed $62,500 IAR
• 2025-01-01 Listing Removed — DMMLS
• 2024-06-28 Listed $78,000 DMMLS
• 2024-06-28 Listed $78,000 CIBOR

Property tax history

+3.2%/yr

Latest (2025): $582 · +1.4% YoY. Source: county tax records.