407 N High St · Greene, IA 50636

$119,900

3 bd · 2.0 ba · 1,336 sqft · Other public records · 119 Days on market

Built 1964 9,800 sqft lot $90/sqft · 35% above area Est $89k · 35% over

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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 +19.1/30.0
• Appreciation +8.1/10.0
• DSCR +6.0/10.0
• Schools +5.9/10.0
• 1% rule +4.7/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0

Listing remarks MLS

Welcome to this 3-bedroom home in Greene, Iowa. The main floor features new floor coverings, a straightforward layout with a kitchen, living room, and full bathroom, and easy access to all bedrooms. The lower level offers useful flexibility with a second kitchen area, laundry hookups, a family room, and a three-quarter bath, providing options for additional living space, extended stays, or hobby and storage needs. The two-stall tandem garage leads into a screened-in area at the back of the home, creating a comfortable spot for enjoying fresh air without the bugs. The front deck adds another outdoor area for seating or seasonal décor. Located in a quiet community, this property offers practical space both inside and out. With multiple functional areas and potential, it is ready for its next owner to make it their own. Schedule a viewing to see how it could fit your needs.

Key facts

• Front deck
• Three-quarter bath
• Screened-in area

Tags

• NEW FLOOR COVERINGS
• SECOND KITCHEN AREA
• LAUNDRY HOOKUPS
• THREE-QUARTER BATH
• SCREENED-IN AREA
• FRONT DECK

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath other listed at $120k.

Deal economics

• At list price, monthly cash flow is $128 ($2k/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 $116k (3.0% below list).
• Recommended offer: $109k (9.0% below list) — sets the bar for market timing.

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 $8k of equity ($829 loan paydown + $7k 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 $34k cash investment doubles in ~4 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$36k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 119 days — a 9% lower offer ($109k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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 $75k; list at $120k implies a 60% gain — meaningful room to come down on a strong offer.

Recommended offer $109,109 (9.0% below list)

Questions for the listing agent

1. It's been on market 119 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 1964 — 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: 0.97% ✗
• Cap rate: 7.57%
• Cash-on-cash: 4.57%
• DSCR: 1.20
• GRM: 8.6

CMA / ARV

• ARV (median comp): $89,113
• List price: $119,900
• Delta: 34.55%
• 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: 19.6%
• Equity multiple: 2.32×
• Total profit: $44,164
• Equity at exit: $76,880

10-year hold

• IRR: 18.8%
• Equity multiple: 4.67×
• Total profit: $123,163
• Equity at exit: $140,738

Cash invested: $33,572 (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: 8.6×

Monthly cashflow live

• Estimated rent: $1,163 medium
• Mortgage (P&I): −$629
• Tax from tax record: −$112 /mo · $1,350/yr
• Insurance: −$50
• HOA: −$0
• Vacancy / Maint / Mgmt: −$244
• Net cashflow: $128

Break-even live

Break-even rent $1,002

Max offer price $119,900

Occupancy floor 84%

Sensitivity live

Price	-10% $196	-5% $162	+0% $128	+5% $94	+10% $60
Rent	-10% $36	-5% $82	+0% $128	+5% $174	+10% $220
Rate	-1.0pp $188	-0.5pp $158	base $128	+0.5pp $97	+1.0pp $65

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: $29,975
• Closing costs: $3,597
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-05-12
   status Pending 890-char remark

   Show marketing remark (890 chars)

   Welcome to this 3-bedroom home in Greene, Iowa. The main floor features new floor coverings, a straightforward layout with a kitchen, living room, and full bathroom, and easy access to all bedrooms. The lower level offers useful flexibility with a second kitchen area, laundry hookups, a family room, and a three-quarter bath, providing options for additional living space, extended stays, or hobby and storage needs. The two-stall tandem garage leads into a screened-in area at the back of the home, creating a comfortable spot for enjoying fresh air without the bugs. The front deck adds another outdoor area for seating or seasonal décor. Located in a quiet community, this property offers practical space both inside and out. With multiple functional areas and potential, it is ready for its next owner to make it their own. Schedule a viewing to see how it could fit your needs.

2. 2026-04-21
   price $119,900 890-char remark

   Show marketing remark (890 chars)

   Welcome to this 3-bedroom home in Greene, Iowa. The main floor features new floor coverings, a straightforward layout with a kitchen, living room, and full bathroom, and easy access to all bedrooms. The lower level offers useful flexibility with a second kitchen area, laundry hookups, a family room, and a three-quarter bath, providing options for additional living space, extended stays, or hobby and storage needs. The two-stall tandem garage leads into a screened-in area at the back of the home, creating a comfortable spot for enjoying fresh air without the bugs. The front deck adds another outdoor area for seating or seasonal décor. Located in a quiet community, this property offers practical space both inside and out. With multiple functional areas and potential, it is ready for its next owner to make it their own. Schedule a viewing to see how it could fit your needs.

3. 2026-02-02
   status Active 890-char remark

   Show marketing remark (890 chars)

   Welcome to this 3-bedroom home in Greene, Iowa. The main floor features new floor coverings, a straightforward layout with a kitchen, living room, and full bathroom, and easy access to all bedrooms. The lower level offers useful flexibility with a second kitchen area, laundry hookups, a family room, and a three-quarter bath, providing options for additional living space, extended stays, or hobby and storage needs. The two-stall tandem garage leads into a screened-in area at the back of the home, creating a comfortable spot for enjoying fresh air without the bugs. The front deck adds another outdoor area for seating or seasonal décor. Located in a quiet community, this property offers practical space both inside and out. With multiple functional areas and potential, it is ready for its next owner to make it their own. Schedule a viewing to see how it could fit your needs.

4. 2025-12-01
   status Pending 890-char remark

   Show marketing remark (890 chars)

   Welcome to this 3-bedroom home in Greene, Iowa. The main floor features new floor coverings, a straightforward layout with a kitchen, living room, and full bathroom, and easy access to all bedrooms. The lower level offers useful flexibility with a second kitchen area, laundry hookups, a family room, and a three-quarter bath, providing options for additional living space, extended stays, or hobby and storage needs. The two-stall tandem garage leads into a screened-in area at the back of the home, creating a comfortable spot for enjoying fresh air without the bugs. The front deck adds another outdoor area for seating or seasonal décor. Located in a quiet community, this property offers practical space both inside and out. With multiple functional areas and potential, it is ready for its next owner to make it their own. Schedule a viewing to see how it could fit your needs.

5. 2025-11-11
   listed $125,000 Active 890-char remark

   Show marketing remark (890 chars)

   Welcome to this 3-bedroom home in Greene, Iowa. The main floor features new floor coverings, a straightforward layout with a kitchen, living room, and full bathroom, and easy access to all bedrooms. The lower level offers useful flexibility with a second kitchen area, laundry hookups, a family room, and a three-quarter bath, providing options for additional living space, extended stays, or hobby and storage needs. The two-stall tandem garage leads into a screened-in area at the back of the home, creating a comfortable spot for enjoying fresh air without the bugs. The front deck adds another outdoor area for seating or seasonal décor. Located in a quiet community, this property offers practical space both inside and out. With multiple functional areas and potential, it is ready for its next owner to make it their own. Schedule a viewing to see how it could fit your needs.

6. 2010-10-29
   soldstatus $75,000
7. 2010-10-29
   soldstatus $75,000

ⓘ 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: $1,350 · $112/mo
• Projected year-2 tax: $1,616 · $135/mo
• Expected delta: +$266/yr (+$22/mo · 19.7%)

ⓘ 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 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: $13,959
• − Mortgage interest: −$6,716
• − Property taxes: −$1,350
• − Insurance: −$600
• − Repairs & maintenance: −$1,117
• − Management: −$1,117
• − Depreciation: −$3,488
• Taxable loss: −$428
• Est. tax savings @ 24.0%: +$103
• After-tax cash flow: $1,636/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

+59.9% since first listed

7 events — show timeline

• 2026-05-12 Pending — NEIRBR as distributed by MLS GRID
• 2026-04-21 Price Changed $119,900 NEIRBR as distributed by MLS GRID
• 2026-02-02 Relisted — NEIRBR as distributed by MLS GRID
• 2025-12-01 Pending — NEIRBR as distributed by MLS GRID
• 2025-11-11 Listed $125,000 NEIRBR as distributed by MLS GRID
• 2010-10-29 Sold (Public Records) $75,000 Public Records
• 2010-10-29 Sold (Public Records) $75,000 Public Records

Property tax history

+4.4%/yr

Latest (2019): $1,350 · +2.0% YoY. Source: county tax records.