401 N High St · Greene, IA 50636

$55,000

2 bd · 1.0 ba · 512 sqft · Other public records · 128 Days on market

Built 1910 8,778 sqft lot $107/sqft · 48% below area Est $107k · 48% 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.8/10.0
• Appreciation +8.1/10.0
• Schools +5.9/10.0
• Livability +3.9/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0

Listing remarks MLS

This 2-bedroom, 1-bathroom home in Greene offers simple, efficient living with updates throughout the entire house. The layout keeps everything conveniently located within close proximity, making day-to-day living easy and comfortable. Whether you’re looking for a great starter home or a solid investment property, this home is a practical option with plenty of appeal.

Key facts

• 8,778 sq ft lot
• Garage
• Built 1910

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath other listed at $55k.

Deal economics

• At list price, monthly cash flow is $292 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($815 rent vs $55k).
• Recommended offer: $48k (12.0% 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.
• 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 $4k of equity ($380 loan paydown + $3k 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 $15k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 9, paydown + projected appreciation supports a ~$34k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• It's been on market 128 days — a 12% lower offer ($48k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 7y ago; this cycle's ask has dropped $10k (15%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Watch-outs: built in 1910 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $48,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 128 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 1910 — 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: 1.48% ✓
• Cap rate: 12.66%
• Cash-on-cash: 22.74%
• DSCR: 2.01
• GRM: 5.6

CMA / ARV

• ARV (median comp): $106,794
• List price: $55,000
• Delta: -48.50%
• Verdict: UNDERPRICED
• Comps: 2 within 2.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: 34.8%
• Equity multiple: 3.28×
• Total profit: $35,115
• Equity at exit: $35,266

10-year hold

• IRR: 32.2%
• Equity multiple: 6.75×
• Total profit: $88,557
• Equity at exit: $64,559

Cash invested: $15,400 (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: 5.6×

Monthly cashflow live

• Estimated rent: $815 medium
• Mortgage (P&I): −$288
• Tax from tax record: −$41 /mo · $490/yr
• Insurance: −$23
• HOA: −$0
• Vacancy / Maint / Mgmt: −$171
• Net cashflow: $292

Break-even live

Break-even rent $446

Max offer price $55,000

Occupancy floor 59%

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: $13,750
• Closing costs: $1,650
• Reserves months: —
• Total cash needed: —

Listing history 22 events

1. 2026-06-18
   days on market $55,000 Active 128 DOM
2. 2026-06-17
   days on market $55,000 Active 127 DOM
3. 2026-06-16
   days on market $55,000 Active 126 DOM
4. 2026-06-15
   days on market $55,000 Active 125 DOM
5. 2026-06-13
   days on market $55,000 Active 123 DOM
6. 2026-06-12
   days on market $55,000 Active 122 DOM
7. 2026-06-09
   days on market $55,000 Active 119 DOM
8. 2026-06-08
   days on market $55,000 Active 118 DOM
9. 2026-06-07
   days on market $55,000 Active 117 DOM
10. 2026-06-07
    days on market $55,000 Active 116 DOM
11. 2026-06-04
    days on market $55,000 Active 113 DOM
12. 2026-06-02
    days on market $55,000 Active 112 DOM
13. 2026-06-01
    days on market $55,000 Active 111 DOM
14. 2026-05-31
    days on market $55,000 Active 110 DOM
15. 2026-05-31
    days on market $55,000 Active 109 DOM
16. 2026-05-14
    price $55,000 376-char remark

    Show marketing remark (376 chars)

    This 2-bedroom, 1-bathroom home in Greene offers simple, efficient living with updates throughout the entire house. The layout keeps everything conveniently located within close proximity, making day-to-day living easy and comfortable. Whether you’re looking for a great starter home or a solid investment property, this home is a practical option with plenty of appeal.

17. 2026-02-10
    listed $65,000 Active 376-char remark

    Show marketing remark (376 chars)

    This 2-bedroom, 1-bathroom home in Greene offers simple, efficient living with updates throughout the entire house. The layout keeps everything conveniently located within close proximity, making day-to-day living easy and comfortable. Whether you’re looking for a great starter home or a solid investment property, this home is a practical option with plenty of appeal.

18. 2023-08-16
    soldstatus $49,900 Closed 976-char remark

    Show marketing remark (976 chars)

    Welcome to a remodeled oasis that seamlessly blends timeless charm with contemporary design! Nestled in a tranquil neighborhood, this exquisite one-level living abode has undergone a meticulous transformation. Step inside and let your senses be captivated by the harmonious fusion of modern convenience and inviting coziness. Custom Tile Shower Surround: Indulge in spa-like luxury every day with a beautiful custom tile shower that is both visually striking and supremely relaxing. Durable New Steel Roof: Enjoy peace of mind knowing that your investment is well-protected with a new steel roof, offering durability and longevity while harmoniously complementing the home's exterior. Greene is a great community to call home; Vibrant Business District, Manufacturing, Implement dealers, MercyOne medical, Golf course and one of Iowa’s longest navigable rivers in the state; 7miles of fishing, water sports, recreational boating and the infamous “Sand Bar. ”

19. 2023-07-27
    status Pending 976-char remark

    Show marketing remark (976 chars)

    Welcome to a remodeled oasis that seamlessly blends timeless charm with contemporary design! Nestled in a tranquil neighborhood, this exquisite one-level living abode has undergone a meticulous transformation. Step inside and let your senses be captivated by the harmonious fusion of modern convenience and inviting coziness. Custom Tile Shower Surround: Indulge in spa-like luxury every day with a beautiful custom tile shower that is both visually striking and supremely relaxing. Durable New Steel Roof: Enjoy peace of mind knowing that your investment is well-protected with a new steel roof, offering durability and longevity while harmoniously complementing the home's exterior. Greene is a great community to call home; Vibrant Business District, Manufacturing, Implement dealers, MercyOne medical, Golf course and one of Iowa’s longest navigable rivers in the state; 7miles of fishing, water sports, recreational boating and the infamous “Sand Bar. ”

20. 2023-07-21
    listed $49,900 Active 976-char remark

    Show marketing remark (976 chars)

    Welcome to a remodeled oasis that seamlessly blends timeless charm with contemporary design! Nestled in a tranquil neighborhood, this exquisite one-level living abode has undergone a meticulous transformation. Step inside and let your senses be captivated by the harmonious fusion of modern convenience and inviting coziness. Custom Tile Shower Surround: Indulge in spa-like luxury every day with a beautiful custom tile shower that is both visually striking and supremely relaxing. Durable New Steel Roof: Enjoy peace of mind knowing that your investment is well-protected with a new steel roof, offering durability and longevity while harmoniously complementing the home's exterior. Greene is a great community to call home; Vibrant Business District, Manufacturing, Implement dealers, MercyOne medical, Golf course and one of Iowa’s longest navigable rivers in the state; 7miles of fishing, water sports, recreational boating and the infamous “Sand Bar. ”

21. 2020-08-31
    soldstatus $18,000
22. 2019-02-05
    listed $17,900

ⓘ 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: $490 · $41/mo
• Projected year-2 tax: $677 · $56/mo
• Expected delta: +$187/yr (+$16/mo · 38.1%)

ⓘ 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 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: $9,783
• − Mortgage interest: −$3,081
• − Property taxes: −$490
• − Insurance: −$275
• − Repairs & maintenance: −$783
• − Management: −$783
• − Depreciation: −$1,600
• Taxable income: $2,772
• Est. tax owed @ 24.0%: −$665
• After-tax cash flow: $2,837/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

+207.3% since first listed

7 events — show timeline

• 2026-05-14 Price Changed $55,000 NEIRBR as distributed by MLS GRID
• 2026-02-10 Listed $65,000 NEIRBR as distributed by MLS GRID
• 2023-08-16 Sold (MLS) $49,900 NEIRBR as distributed by MLS GRID
• 2023-07-27 Pending — NEIRBR as distributed by MLS GRID
• 2023-07-21 Listed $49,900 NEIRBR as distributed by MLS GRID
• 2020-08-31 Sold (MLS) $18,000 NEIRBR as distributed by MLS GRID
• 2019-02-05 Listed $17,900 NEIRBR as distributed by MLS GRID

Property tax history

+10.6%/yr

Latest (2025): $490 · -3.9% YoY. Source: county tax records.