204 S Main St · Greene, IA 50636

$139,900

3 bd · 2.0 ba · 2,268 sqft · Other public records · 59 Days on market

Built 1965 7,013 sqft lot $62/sqft · 8% above area ↓ 7% 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 +16.0/30.0
• Appreciation +8.1/10.0
• ARV discount +7.5/15.0
• Schools +5.9/10.0
• DSCR +4.9/10.0
• 1% rule +3.9/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Enjoy a glimpse of the river from the kitchen window in this solid, well built 1965 home. Just half a block from the Aquatic Center, this home is ideal for first time buyers, downsizers, or anyone seeking property that’s as practical as it is charming. Inside, you’ll find 3 bedrooms, 1¾ baths, main floor laundry, and radiant ceiling heat with individual room temperature controls for personalized comfort. The home is being sold as is and has clearly been cared for over the years. You’ll enjoy a screened in gazebo, perfect for relaxing, plus a 1 stall attached garage for added convenience. The basement offers strong potential for two additional bedrooms, giving you room to expand as needed. Essential downtown amenities—including shops, Library, Bakery, and Grocery Store—are just blocks away. Greene is a vibrant community with a thriving business district, manufacturing centers, implement dealers, MercyOne Medical facilities, a golf course, and one of Iowa’s longest navigable rivers—offering seven miles of fishing, water sports, recreation, and the famous “Sand Bar. ” Schedule your showing today! You must see it in person to appreciate how well it has stood the test of time.

Key facts

• Vibrant community
• 7,013 sq ft lot
• Garage

Tags

• RIVER VIEW FROM KITCHEN
• STRONG POTENTIAL FOR EXPANSION
• ESSENTIAL DOWNTOWN AMENITIES
• VIBRANT COMMUNITY

Property features AI

Exterior

• Parking: Attached garage; Carport (1 space)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property
• Construction: Vinyl siding; Asphalt roof
• Exterior features: Alley with paved road access; Lot dimensions approximately 140 x 50; Zoned R-1

Interior

• Bathrooms: 1 full bathroom; 1 three-quarter bathroom
• Heating & cooling: Electric heating; Central air conditioning
• Interior features: Basement with block construction; No fireplace

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $140k.

Deal economics

• At list price, monthly cash flow is $69 ($830/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $124k (11.0% below list).
• Recommended offer: $124k (11.0% below list) — sets the bar for 1% rule.

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); North Butler Jr/Sr High School (math 64% / reading 72%, grade B, #184 of 336 statewide, top 55%, 271 students, 25% FRL) — zoned schools at 27% 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 $10k of equity ($967 loan paydown + $9k 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 $39k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 4, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 59 days — a 3% lower offer ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $124,444 (11.0% below list)

Questions for the listing agent

1. It's been on market 59 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1965 — 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: 0.89% ✗
• Cap rate: 6.89%
• Cash-on-cash: 2.12%
• DSCR: 1.09
• GRM: 9.4

CMA / ARV

• ARV (median comp): $75,026
• List price: $139,900
• Delta: 86.47%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 17.6%
• Equity multiple: 2.19×
• Total profit: $46,436
• Equity at exit: $89,704

10-year hold

• IRR: 17.2%
• Equity multiple: 4.39×
• Total profit: $132,691
• Equity at exit: $164,213

Cash invested: $39,172 (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: 9.4×

Monthly cashflow live

• Estimated rent: $1,244 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$122 /mo · $1,464/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$261
• Net cashflow: $69

Break-even live

Break-even rent $1,157

Max offer price $139,900

Occupancy floor 89%

Sensitivity live

Price	-10% $148	-5% $109	+0% $69	+5% $30	+10% $-10
Rent	-10% $-29	-5% $20	+0% $69	+5% $118	+10% $167
Rate	-1.0pp $140	-0.5pp $105	base $69	+0.5pp $33	+1.0pp $-4

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: $34,975
• Closing costs: $4,197
• Reserves months: —
• Total cash needed: —

Listing history 19 events

1. 2026-06-21
   days on market $139,900 Active 59 DOM
2. 2026-06-21
   days on market $139,900 Active 58 DOM
3. 2026-06-18
   days on market $139,900 Active 56 DOM
4. 2026-06-17
   days on market $139,900 Active 55 DOM
5. 2026-06-16
   days on market $139,900 Active 54 DOM
6. 2026-06-15
   days on market $139,900 Active 53 DOM
7. 2026-06-13
   days on market $139,900 Active 51 DOM

   Show marketing remark (1251 chars)

   Enjoy a glimpse of the river from the kitchen window in this solid, well built 1965 home. Just half a block from the Aquatic Center, this home is ideal for first time buyers, downsizers, or anyone seeking property that’s as practical as it is charming. Inside, you’ll find 3 bedrooms, 1¾ baths, main floor laundry, and radiant ceiling heat with individual room temperature controls for personalized comfort. The home is being sold as is and has clearly been cared for over the years. You’ll enjoy a screened in gazebo, perfect for relaxing, plus a 1 stall attached garage for added convenience. The basement offers strong potential for two additional bedrooms, giving you room to expand as needed. Essential downtown amenities—including shops, Library, Bakery, and Grocery Store—are just blocks away. Greene is a vibrant community with a thriving business district, manufacturing centers, implement dealers, MercyOne Medical facilities, a golf course, and one of Iowa’s longest navigable rivers—offering seven miles of fishing, water sports, recreation, and the famous “Sand Bar. ” Schedule your showing today! You must see it in person to appreciate how well it has stood the test of time.

8. 2026-06-12
   days on market $139,900 Active 50 DOM
9. 2026-06-09
   days on market $139,900 Active 47 DOM
10. 2026-06-08
    days on market $139,900 Active 46 DOM
11. 2026-06-07
    days on market $139,900 Active 45 DOM
12. 2026-06-07
    days on market $139,900 Active 44 DOM
13. 2026-06-04
    days on market $139,900 Active 41 DOM
14. 2026-06-02
    days on market $139,900 Active 40 DOM
15. 2026-06-01
    days on market $139,900 Active 39 DOM
16. 2026-05-31
    days on market $139,900 Active 38 DOM
17. 2026-05-31
    days on market $139,900 Active 37 DOM
18. 2026-04-23
    listed $149,900 Active 1251-char remark

    Show marketing remark (1251 chars)

    Enjoy a glimpse of the river from the kitchen window in this solid, well built 1965 home. Just half a block from the Aquatic Center, this home is ideal for first time buyers, downsizers, or anyone seeking property that’s as practical as it is charming. Inside, you’ll find 3 bedrooms, 1¾ baths, main floor laundry, and radiant ceiling heat with individual room temperature controls for personalized comfort. The home is being sold as is and has clearly been cared for over the years. You’ll enjoy a screened in gazebo, perfect for relaxing, plus a 1 stall attached garage for added convenience. The basement offers strong potential for two additional bedrooms, giving you room to expand as needed. Essential downtown amenities—including shops, Library, Bakery, and Grocery Store—are just blocks away. Greene is a vibrant community with a thriving business district, manufacturing centers, implement dealers, MercyOne Medical facilities, a golf course, and one of Iowa’s longest navigable rivers—offering seven miles of fishing, water sports, recreation, and the famous “Sand Bar. ” Schedule your showing today! You must see it in person to appreciate how well it has stood the test of time.

19. 2026-04-23
    listed $149,900 Active 1251-char remark

    Show marketing remark (1251 chars)

    Enjoy a glimpse of the river from the kitchen window in this solid, well built 1965 home. Just half a block from the Aquatic Center, this home is ideal for first time buyers, downsizers, or anyone seeking property that’s as practical as it is charming. Inside, you’ll find 3 bedrooms, 1¾ baths, main floor laundry, and radiant ceiling heat with individual room temperature controls for personalized comfort. The home is being sold as is and has clearly been cared for over the years. You’ll enjoy a screened in gazebo, perfect for relaxing, plus a 1 stall attached garage for added convenience. The basement offers strong potential for two additional bedrooms, giving you room to expand as needed. Essential downtown amenities—including shops, Library, Bakery, and Grocery Store—are just blocks away. Greene is a vibrant community with a thriving business district, manufacturing centers, implement dealers, MercyOne Medical facilities, a golf course, and one of Iowa’s longest navigable rivers—offering seven miles of fishing, water sports, recreation, and the famous “Sand Bar. ” Schedule your showing today! You must see it in person to appreciate how well it has stood the test of time.

ⓘ 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: $1,464 · $122/mo
• Projected year-2 tax: $1,830 · $153/mo
• Expected delta: +$366/yr (+$31/mo · 25.0%)

ⓘ 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 ≥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: $14,933
• − Mortgage interest: −$7,837
• − Property taxes: −$1,464
• − Insurance: −$700
• − Repairs & maintenance: −$1,195
• − Management: −$1,195
• − Depreciation: −$4,070
• Taxable loss: −$1,526
• Est. tax savings @ 24.0%: +$366
• After-tax cash flow: $1,196/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

-6.7% since first listed

4 events — show timeline

• 2026-06-13 Price Changed $139,900 IAR
• 2026-05-26 Price Changed $139,900 NEIRBR as distributed by MLS GRID
• 2026-04-23 Listed $149,900 NEIRBR as distributed by MLS GRID
• 2026-04-23 Listed $149,900 IAR

Property tax history

+1.6%/yr

Latest (2025): $1,464 · -10.6% YoY. Source: county tax records.