250 Vanderbilt St St · Fairfax, IA 52228

$161,000

3 bd · 1.0 ba · 1,476 sqft · SingleFamily public records · 2 Days on market

Built 1930 0.30 ac lot Est $193k · 17% 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 +26.8/30.0
• ARV discount +15.0/15.0
• Appreciation +10.0/10.0
• DSCR +9.2/10.0
• 1% rule +7.4/10.0
• Schools +5.7/10.0
• Livability +3.7/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

Enter into a world of comfort and warmth in this beautiful 3-bedroom, 1-bathroom, 2-story home, nestled in the heart of Fairfax, Iowa. As you enter, the allure of hardwood floors beckons you through an open eat-in kitchen equipped with all of your appliance needs and a main-level bedroom and bath with dual pedestal sinks, ensuring everyday convenience. Picture yourself sipping your morning coffee on the charming front porch or hosting lively gatherings on the deck in the expansive backyard with a firepit. Upstairs, the primary bedroom awaits, boasting a balcony and high ceilings, a perfect retreat after a long day. A detached, newly sided and painted 2-stall garage to store your vehicles and yard equipment from the elements completes this dreamy package. Don't miss out on making this your sanctuary - contact me now to arrange your exclusive showing today!

Key facts

• Private deck
• Large lot
• Main floor laundry

Tags

• LARGE LOT
• UPDATED KITCHEN
• PRIVATE DECK
• MAIN FLOOR LAUNDRY
• NEWER REPLACEMENT WINDOWS
• MAINTENANCE FREE SIDING

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $161k.

Deal economics

• At list price, monthly cash flow is $440 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $161k).
• Cap rate 9.6% vs local median 2.6% in Fairfax — 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 74/100 on livability (#232 in IA, #4,402 nationally) — a middle-class / working-renter tenant base. Strengths: crime A+, employment A+, housing A+; Watch: schools C-, amenities F, commute F.
• College Community School District (urban): math 62% / reading 70% proficiency, ranked #173 of 289 in IA (top 60%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Market conditions: 42 active listings in the ZIP; 1,023 units permitted in Linn County in 2024 (456 in 5+ unit buildings).

Forward outlook

• In year one you build about $17k of equity ($1k loan paydown + $16k appreciation (10.0% local appreciation)).
• Linn County population projected at +16% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.
• At projected returns (10.0% appreciation + 3.0% rent growth), your $45k cash investment doubles in ~2 years — after that, you're playing with house money.
• By year 3, paydown + projected appreciation supports a ~$44k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 7 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: built in 1930 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $161,000

Questions for the listing agent

1. Built in 1930 — 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. 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.
4. 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.
5. 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: 1.24% ✓
• Cap rate: 9.57%
• Cash-on-cash: 11.70%
• DSCR: 1.52
• GRM: 6.7

CMA / ARV

• ARV (on-the-fly): $193,356
• Comps found: 3

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
250 Vanderbilt St St	0.00mi	3/1.0	1,476 (0%)	1mo	$172,500	$117	99
304 Reynolds St	0.15mi	3/1.5	1,435 (-3%)	22mo	$187,500	$131	68
110 W Cemetery Rd	0.54mi	4/1.0 (+1)	1,536 (+4%)	21mo	$300,001	$195	46

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

Projected returns pro-forma

10.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 32.9%
• Equity multiple: 3.57×
• Total profit: $115,721
• Equity at exit: $145,042

10-year hold

• IRR: 28.4%
• Equity multiple: 8.07×
• Total profit: $318,848
• Equity at exit: $312,788

Cash invested: $45,080 (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 52228

• Home prices YoY: 4.7%
• Active inventory: 42
• Price-to-rent: 6.7×

Monthly cashflow live

• Estimated rent: $1,989 medium
• Mortgage (P&I): −$844
• Tax from tax record: −$220 /mo · $2,640/yr
• Insurance: −$67
• HOA: −$0
• Vacancy / Maint / Mgmt: −$418
• Net cashflow: $440

Break-even live

Break-even rent $1,432

Max offer price $161,000

Occupancy floor 73%

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: $40,250
• Closing costs: $4,830
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-04-25
   status Pending
2. 2026-04-23
   listed $161,000 Active
3. 2024-04-05
   price $142,000 867-char remark

   Show marketing remark (951 chars)

   AN OFFER HAS BEEN ACCEPTED! PLEASE SHOW FOR BACK-UP OFFER! Enter into a world of comfort and warmth in this beautiful 3-bedroom, 1-bathroom, 2-story home, nestled in the heart of Fairfax, Iowa. As you enter, the allure of hardwood floors beckons you through an open eat-in kitchen equipped with all of your appliance needs and a main-level bedroom and bath with dual pedestal sinks, ensuring everyday convenience. Picture yourself sipping your morning coffee on the charming front porch or hosting lively gatherings on the deck in the expansive backyard with a firepit. Upstairs, the primary bedroom awaits, boasting a balcony and high ceilings, a perfect retreat after a long day. A detached, newly sided and painted 2-stall garage to store your vehicles and yard equipment from the elements completes this dreamy package. Don't miss out on making this your sanctuary - contact me now to arrange your exclusive showing today! Home is being sold as-is

4. 2024-04-05
   price $142,000 951-char remark

   Show marketing remark (951 chars)

   AN OFFER HAS BEEN ACCEPTED! PLEASE SHOW FOR BACK-UP OFFER! Enter into a world of comfort and warmth in this beautiful 3-bedroom, 1-bathroom, 2-story home, nestled in the heart of Fairfax, Iowa. As you enter, the allure of hardwood floors beckons you through an open eat-in kitchen equipped with all of your appliance needs and a main-level bedroom and bath with dual pedestal sinks, ensuring everyday convenience. Picture yourself sipping your morning coffee on the charming front porch or hosting lively gatherings on the deck in the expansive backyard with a firepit. Upstairs, the primary bedroom awaits, boasting a balcony and high ceilings, a perfect retreat after a long day. A detached, newly sided and painted 2-stall garage to store your vehicles and yard equipment from the elements completes this dreamy package. Don't miss out on making this your sanctuary - contact me now to arrange your exclusive showing today! Home is being sold as-is

5. 2023-12-29
   soldstatus $142,000 951-char remark

   Show marketing remark (951 chars)

   AN OFFER HAS BEEN ACCEPTED! PLEASE SHOW FOR BACK-UP OFFER! Enter into a world of comfort and warmth in this beautiful 3-bedroom, 1-bathroom, 2-story home, nestled in the heart of Fairfax, Iowa. As you enter, the allure of hardwood floors beckons you through an open eat-in kitchen equipped with all of your appliance needs and a main-level bedroom and bath with dual pedestal sinks, ensuring everyday convenience. Picture yourself sipping your morning coffee on the charming front porch or hosting lively gatherings on the deck in the expansive backyard with a firepit. Upstairs, the primary bedroom awaits, boasting a balcony and high ceilings, a perfect retreat after a long day. A detached, newly sided and painted 2-stall garage to store your vehicles and yard equipment from the elements completes this dreamy package. Don't miss out on making this your sanctuary - contact me now to arrange your exclusive showing today! Home is being sold as-is

6. 2023-12-27
   soldstatus $142,000
7. 2023-12-26
   price $147,000 951-char remark

   Show marketing remark (951 chars)

   AN OFFER HAS BEEN ACCEPTED! PLEASE SHOW FOR BACK-UP OFFER! Enter into a world of comfort and warmth in this beautiful 3-bedroom, 1-bathroom, 2-story home, nestled in the heart of Fairfax, Iowa. As you enter, the allure of hardwood floors beckons you through an open eat-in kitchen equipped with all of your appliance needs and a main-level bedroom and bath with dual pedestal sinks, ensuring everyday convenience. Picture yourself sipping your morning coffee on the charming front porch or hosting lively gatherings on the deck in the expansive backyard with a firepit. Upstairs, the primary bedroom awaits, boasting a balcony and high ceilings, a perfect retreat after a long day. A detached, newly sided and painted 2-stall garage to store your vehicles and yard equipment from the elements completes this dreamy package. Don't miss out on making this your sanctuary - contact me now to arrange your exclusive showing today! Home is being sold as-is

8. 2023-12-25
   listed $147,000 951-char remark

   Show marketing remark (951 chars)

   AN OFFER HAS BEEN ACCEPTED! PLEASE SHOW FOR BACK-UP OFFER! Enter into a world of comfort and warmth in this beautiful 3-bedroom, 1-bathroom, 2-story home, nestled in the heart of Fairfax, Iowa. As you enter, the allure of hardwood floors beckons you through an open eat-in kitchen equipped with all of your appliance needs and a main-level bedroom and bath with dual pedestal sinks, ensuring everyday convenience. Picture yourself sipping your morning coffee on the charming front porch or hosting lively gatherings on the deck in the expansive backyard with a firepit. Upstairs, the primary bedroom awaits, boasting a balcony and high ceilings, a perfect retreat after a long day. A detached, newly sided and painted 2-stall garage to store your vehicles and yard equipment from the elements completes this dreamy package. Don't miss out on making this your sanctuary - contact me now to arrange your exclusive showing today! Home is being sold as-is

9. 2023-12-22
   soldstatus $142,000 Closed 867-char remark

   Show marketing remark (867 chars)

   Enter into a world of comfort and warmth in this beautiful 3-bedroom, 1-bathroom, 2-story home, nestled in the heart of Fairfax, Iowa. As you enter, the allure of hardwood floors beckons you through an open eat-in kitchen equipped with all of your appliance needs and a main-level bedroom and bath with dual pedestal sinks, ensuring everyday convenience. Picture yourself sipping your morning coffee on the charming front porch or hosting lively gatherings on the deck in the expansive backyard with a firepit. Upstairs, the primary bedroom awaits, boasting a balcony and high ceilings, a perfect retreat after a long day. A detached, newly sided and painted 2-stall garage to store your vehicles and yard equipment from the elements completes this dreamy package. Don't miss out on making this your sanctuary - contact me now to arrange your exclusive showing today!

10. 2023-12-22
    soldstatus $142,000 Closed

    Show marketing remark (867 chars)

    Enter into a world of comfort and warmth in this beautiful 3-bedroom, 1-bathroom, 2-story home, nestled in the heart of Fairfax, Iowa. As you enter, the allure of hardwood floors beckons you through an open eat-in kitchen equipped with all of your appliance needs and a main-level bedroom and bath with dual pedestal sinks, ensuring everyday convenience. Picture yourself sipping your morning coffee on the charming front porch or hosting lively gatherings on the deck in the expansive backyard with a firepit. Upstairs, the primary bedroom awaits, boasting a balcony and high ceilings, a perfect retreat after a long day. A detached, newly sided and painted 2-stall garage to store your vehicles and yard equipment from the elements completes this dreamy package. Don't miss out on making this your sanctuary - contact me now to arrange your exclusive showing today!

11. 2023-12-14
    status Pending 867-char remark

    Show marketing remark (867 chars)

    Enter into a world of comfort and warmth in this beautiful 3-bedroom, 1-bathroom, 2-story home, nestled in the heart of Fairfax, Iowa. As you enter, the allure of hardwood floors beckons you through an open eat-in kitchen equipped with all of your appliance needs and a main-level bedroom and bath with dual pedestal sinks, ensuring everyday convenience. Picture yourself sipping your morning coffee on the charming front porch or hosting lively gatherings on the deck in the expansive backyard with a firepit. Upstairs, the primary bedroom awaits, boasting a balcony and high ceilings, a perfect retreat after a long day. A detached, newly sided and painted 2-stall garage to store your vehicles and yard equipment from the elements completes this dreamy package. Don't miss out on making this your sanctuary - contact me now to arrange your exclusive showing today!

12. 2023-12-14
    status Pending

    Show marketing remark (867 chars)

    Enter into a world of comfort and warmth in this beautiful 3-bedroom, 1-bathroom, 2-story home, nestled in the heart of Fairfax, Iowa. As you enter, the allure of hardwood floors beckons you through an open eat-in kitchen equipped with all of your appliance needs and a main-level bedroom and bath with dual pedestal sinks, ensuring everyday convenience. Picture yourself sipping your morning coffee on the charming front porch or hosting lively gatherings on the deck in the expansive backyard with a firepit. Upstairs, the primary bedroom awaits, boasting a balcony and high ceilings, a perfect retreat after a long day. A detached, newly sided and painted 2-stall garage to store your vehicles and yard equipment from the elements completes this dreamy package. Don't miss out on making this your sanctuary - contact me now to arrange your exclusive showing today!

13. 2023-12-14
    price $147,000 867-char remark

    Show marketing remark (867 chars)

    Enter into a world of comfort and warmth in this beautiful 3-bedroom, 1-bathroom, 2-story home, nestled in the heart of Fairfax, Iowa. As you enter, the allure of hardwood floors beckons you through an open eat-in kitchen equipped with all of your appliance needs and a main-level bedroom and bath with dual pedestal sinks, ensuring everyday convenience. Picture yourself sipping your morning coffee on the charming front porch or hosting lively gatherings on the deck in the expansive backyard with a firepit. Upstairs, the primary bedroom awaits, boasting a balcony and high ceilings, a perfect retreat after a long day. A detached, newly sided and painted 2-stall garage to store your vehicles and yard equipment from the elements completes this dreamy package. Don't miss out on making this your sanctuary - contact me now to arrange your exclusive showing today!

14. 2023-12-02
    status Active
15. 2023-12-01
    status Pending
16. 2023-12-01
    soldstatus $142,000 Closed
17. 2023-11-09
    listed $147,000 Active 867-char remark

    Show marketing remark (867 chars)

    Enter into a world of comfort and warmth in this beautiful 3-bedroom, 1-bathroom, 2-story home, nestled in the heart of Fairfax, Iowa. As you enter, the allure of hardwood floors beckons you through an open eat-in kitchen equipped with all of your appliance needs and a main-level bedroom and bath with dual pedestal sinks, ensuring everyday convenience. Picture yourself sipping your morning coffee on the charming front porch or hosting lively gatherings on the deck in the expansive backyard with a firepit. Upstairs, the primary bedroom awaits, boasting a balcony and high ceilings, a perfect retreat after a long day. A detached, newly sided and painted 2-stall garage to store your vehicles and yard equipment from the elements completes this dreamy package. Don't miss out on making this your sanctuary - contact me now to arrange your exclusive showing today!

18. 2023-11-09
    listed $147,000 Active

    Show marketing remark (867 chars)

    Enter into a world of comfort and warmth in this beautiful 3-bedroom, 1-bathroom, 2-story home, nestled in the heart of Fairfax, Iowa. As you enter, the allure of hardwood floors beckons you through an open eat-in kitchen equipped with all of your appliance needs and a main-level bedroom and bath with dual pedestal sinks, ensuring everyday convenience. Picture yourself sipping your morning coffee on the charming front porch or hosting lively gatherings on the deck in the expansive backyard with a firepit. Upstairs, the primary bedroom awaits, boasting a balcony and high ceilings, a perfect retreat after a long day. A detached, newly sided and painted 2-stall garage to store your vehicles and yard equipment from the elements completes this dreamy package. Don't miss out on making this your sanctuary - contact me now to arrange your exclusive showing today!

19. 2023-10-25
    price $149,000
20. 2023-10-25
    price $149,000
21. 2023-10-06
    listed $155,000 Active
22. 2023-10-06
    listed $155,000 Active
23. 2015-08-28
    soldstatus $127,000
24. 2007-11-29
    soldstatus $64,000
25. 2006-05-25
    soldstatus $69,000

ⓘ 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: $2,640 · $220/mo
• Projected year-2 tax: $2,640 · $220/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 3/10 Moderate
• 🌡 Heat 3/10 Moderate 7 d/yr ≥102°F today · 15 d/yr by 30 yrs out
• 💨 Wind 2/10 Low
• 🫁 Air quality 2/10 Low 0 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $23,862
• − Mortgage interest: −$9,019
• − Property taxes: −$2,640
• − Insurance: −$805
• − Repairs & maintenance: −$1,909
• − Management: −$1,909
• − Depreciation: −$4,684
• Taxable income: $2,897
• Est. tax owed @ 24.0%: −$695
• After-tax cash flow: $4,579/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: College Community School District
• NCES district ID: 1907860
• Math proficiency: 62% ▼ -2.00%
• Reading proficiency: 70% ▲ 2.00%
• Median HH income: $63,575
• Composite: 57.32/100
• National rank: #1086
• State rank: #173 of 289 in IA

Livability — Fairfax

• Score: 74/100
• State rank: #232
• US rank: #4402

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Fairfax, IA
• Population (ZIP): 3,865

Population outlook (Linn County) Hauer SSP2

• Today (2025): 239,589 people
• By 2030: 248,587 · +3.8%
• By 2040: 264,817 · +10.5%
• By 2050: 278,685 · +16.3%
• By 2075: 311,754 · +30.1%
• By 2100: 336,773 · +40.6%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (90%)
• Race & ethnicity: White 90% Two or more races 5% Hispanic / Latino 4% Black 2%
• Common ancestry: Portuguese 3% Iranian 2% English 1%
• Foreign-born: 2% · Canada
• Languages at home: 95% English-only · Other Asian/Pacific 1% Spanish 1% French/Haitian/Cajun 1%

Political lean MEDSL · Linn

• 2024 margin: Lean D (+9.9) · D 54.2% · R 44.3% · Other 1.4%
• 2008→2024 swing: -11.6pp toward R · 2008: 21.5pp · 2024: 9.9pp
• All cycles: 2024: D+9.9 2020: D+13.7 2016: D+9.0 2012: D+17.6 2008: D+21.5

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▲ 12.59%
• Current HPI: 280.74
• 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

+133.3% since first listed

25 events — show timeline

• 2026-04-25 Pending — CRAAR, CDRMLS
• 2026-04-23 Listed $161,000 CRAAR, CDRMLS
• 2024-04-05 Price Changed $142,000 ICAARMLS
• 2024-04-05 Price Changed $142,000 ICAARMLS
• 2023-12-29 Sold (MLS) $142,000 ICAARMLS
• 2023-12-27 Sold (Public Records) $142,000 Public Records
• 2023-12-26 Price Changed $147,000 ICAARMLS
• 2023-12-25 Listed $147,000 ICAARMLS
• 2023-12-22 Sold (MLS) $142,000 CRAAR, CDRMLS
• 2023-12-22 Sold (MLS) $142,000 ICAARMLS
• 2023-12-14 Pending — ICAARMLS
• 2023-12-14 Pending — CRAAR, CDRMLS
• 2023-12-14 Price Changed $147,000 ICAARMLS
• 2023-12-02 Relisted — CRAAR, CDRMLS
• 2023-12-01 Pending — CRAAR, CDRMLS
• 2023-12-01 Sold (MLS) $142,000 CRAAR, CDRMLS
• 2023-11-09 Listed $147,000 CRAAR, CDRMLS
• 2023-11-09 Listed $147,000 ICAARMLS
• 2023-10-25 Price Changed $149,000 ICAARMLS
• 2023-10-25 Price Changed $149,000 CRAAR, CDRMLS
• 2023-10-06 Listed $155,000 CRAAR, CDRMLS
• 2023-10-06 Listed $155,000 ICAARMLS
• 2015-08-28 Sold (Public Records) $127,000 Public Records
• 2007-11-29 Sold (Public Records) $64,000 Public Records
• 2006-05-25 Sold (Public Records) $69,000 Public Records

Property tax history

+7.5%/yr

Latest (2025): $2,640 · +2.2% YoY. Source: county tax records.