311 W Adams · Fairfield, IA 52556

$89,000

5 bd · 3.0 ba · 2,420 sqft · SingleFamily public records · 114 Days on market

Built 1900 3,485 sqft lot

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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

For the investor. Duplex with 2 multi-level apartments with recent 1 year leases bringing in $925 per month. Apartment labeled 311 has 3 bedrooms up, living room, dine-in kitchen. Apartment labeled 207 has 2 bedrooms, living room and dine-in kitchen. 26 newer vinyl replacement windows in 2004, Hi-efficiency furnace & central air in each unit approx. 2005. Roof replaced 2002, Interiors recently repainted. Some hardwood, some carpet. Tenant pays all utilities. Priced below assessment - make your appointment to take a look today! 24 hours notice to show.

Key facts

• Sewer line replaced
• Exterior painted
• 3,485 sq ft lot

Tags

• HANDICAP ACCESSIBLE BATHROOM
• WHEELCHAIR ACCESSIBLE RAMP
• RENEWAL RENTAL PERMIT
• SEWER LINE REPLACED
• EXTERIOR PAINTED

Property features AI

Exterior

• Parking: Gravel parking; On-street parking
• Utilities: Circuit breaker electrical service; Public sewer
• Home design: Two-story single-family residence; Residential zoning (Multi-Family)
• Construction: Wood siding
• Exterior features: Shingle roof

Interior

• Kitchen: Range; Dishwasher; Refrigerator
• Bathrooms: Two full bathrooms; One three-quarter bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Double-pane windows; Basement

🏷️ Possibly a rental listed for sale. The $89,000 price doesn't fit this home's estimated sale value (~$191,180) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 5-bed/3.0-bath single-family listed at $89k.

Deal economics

• At list price, monthly cash flow is $446 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $89k).
• Recommended offer: $81k (9.0% below list) — sets the bar for market timing.
• Cap rate 12.3% 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 $615 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $25k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($81k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 11y ago; this cycle's ask has dropped $6k (6%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

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

Recommended offer $80,990 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Built in 1900 — 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 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?
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: 1.59% ✓
• Cap rate: 12.31%
• Cash-on-cash: 21.49%
• DSCR: 1.96
• GRM: 5.2

CMA / ARV

• ARV (on-the-fly): $191,180
• Comps found: 8

Show comp detail 8 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
311 W Adams	0.00mi	5/3.0	2,420 (0%)	1mo	$80,000	$33	99
300 W Washington Ave	0.07mi	4/2.0 (-1)	2,506 (+4%)	7mo	$197,000	$79	76
207 W Jefferson Ave	0.12mi	5/3.0	2,103 (-13%)	4mo	$198,000	$94	70
304 E Burlington Ave	0.46mi	4/2.0 (-1)	2,608 (+8%)	4mo	$85,000	$33	54
704 W Fillmore Ave	0.73mi	4/2.0 (-1)	2,484 (+3%)	9mo	$185,000	$74	45
1201 S 5th St	0.60mi	4/2.0 (-1)	2,090 (-14%)	3mo	$250,000	$120	38
201 E Kirkwood Ave	0.68mi	4/1.5 (-1)	2,150 (-11%)	2mo	$170,000	$79	37
502 E Burlington Ave	0.59mi	4/2.0 (-1)	2,761 (+14%)	5mo	$199,000	$72	36

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: 14.1%
• Equity multiple: 1.56×
• Total profit: $14,053
• Equity at exit: $13,270

10-year hold

• IRR: 22.9%
• Equity multiple: 2.97×
• Total profit: $49,056
• Equity at exit: $7,695

Cash invested: $24,920 (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: 5.2×

Monthly cashflow live

• Estimated rent: $1,413 medium
• Mortgage (P&I): −$467
• Tax from tax record: −$166 /mo · $1,998/yr
• Insurance: −$37
• HOA: −$0
• Vacancy / Maint / Mgmt: −$297
• Net cashflow: $446

Break-even live

Break-even rent $848

Max offer price $89,000

Occupancy floor 63%

Sensitivity live

Price	-10% $497	-5% $471	+0% $446	+5% $421	+10% $396
Rent	-10% $335	-5% $390	+0% $446	+5% $502	+10% $558
Rate	-1.0pp $491	-0.5pp $469	base $446	+0.5pp $423	+1.0pp $400

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: $22,250
• Closing costs: $2,670
• Reserves months: —
• Total cash needed: —

Listing history 15 events

1. 2026-05-10
   status Pending
2. 2026-04-02
   historical Active Under Contract
3. 2026-02-25
   price $89,000
4. 2026-01-16
   listed $95,000 Active
5. 2025-10-03
   status Active
6. 2025-10-03
   price $99,000
7. 2025-09-23
   historical Active Under Contract
8. 2025-08-07
   price $102,000
9. 2025-06-11
   status Active
10. 2025-06-11
    price $109,000
11. 2025-05-03
    historical
12. 2025-04-28
    price $118,000
13. 2025-03-26
    listed $125,000 Active
14. 2016-08-23
    soldstatus $84,000 563-char remark

    Show marketing remark (563 chars)

    For the investor. Duplex with 2 multi-level apartments with recent 1 year leases bringing in $925 per month. Apartment labeled 311 has 3 bedrooms up, living room, dine-in kitchen. Apartment labeled 207 has 2 bedrooms, living room and dine-in kitchen. 26 newer vinyl replacement windows in 2004, Hi-efficiency furnace & central air in each unit approx. 2005. Roof replaced 2002, Interiors recently repainted. Some hardwood, some carpet. Tenant pays all utilities. Priced below assessment - make your appointment to take a look today! 24 hours notice to show.

15. 2015-11-16
    listed $89,000 563-char remark

    Show marketing remark (563 chars)

    For the investor. Duplex with 2 multi-level apartments with recent 1 year leases bringing in $925 per month. Apartment labeled 311 has 3 bedrooms up, living room, dine-in kitchen. Apartment labeled 207 has 2 bedrooms, living room and dine-in kitchen. 26 newer vinyl replacement windows in 2004, Hi-efficiency furnace & central air in each unit approx. 2005. Roof replaced 2002, Interiors recently repainted. Some hardwood, some carpet. Tenant pays all utilities. Priced below assessment - make your appointment to take a look today! 24 hours notice to show.

ⓘ 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: $1,998 · $166/mo
• Projected year-2 tax: $1,998 · $166/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 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: $16,960
• − Mortgage interest: −$4,985
• − Property taxes: −$1,998
• − Insurance: −$445
• − Repairs & maintenance: −$1,357
• − Management: −$1,357
• − Depreciation: −$2,589
• Taxable income: $4,229
• Est. tax owed @ 24.0%: −$1,015
• After-tax cash flow: $4,340/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

+0.0% since first listed

15 events — show timeline

• 2026-05-10 Pending — IAR
• 2026-04-02 Contingent — IAR
• 2026-02-25 Price Changed $89,000 IAR
• 2026-01-16 Listed $95,000 IAR
• 2025-10-03 Relisted — IAR
• 2025-10-03 Price Changed $99,000 IAR
• 2025-09-23 Contingent — IAR
• 2025-08-07 Price Changed $102,000 IAR
• 2025-06-11 Relisted — IAR
• 2025-06-11 Price Changed $109,000 IAR
• 2025-05-03 Delisted — IAR
• 2025-04-28 Price Changed $118,000 IAR
• 2025-03-26 Listed $125,000 IAR
• 2016-08-23 Sold (MLS) $84,000 IAR
• 2015-11-16 Listed $89,000 IAR

Property tax history

+2.1%/yr

Latest (2025): $1,998 · +4.7% YoY. Source: county tax records.