2151 185th St #7 · Fairfield, IA 52556

$57,500

1 bd · 1.0 ba · 960 sqft · SingleFamily · 350 Days on market

Built 2005 Good condition 4,792 sqft lot $60/sqft · 71% below area $172/mo HOA · 20% of rent

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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 +25.0/30.0
• 1% rule +10.0/10.0
• DSCR +8.2/10.0
• ARV discount +7.5/15.0
• Schools +5.3/10.0
• Livability +4.0/5.0
• Condition / age +3.8/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Be sure to consider this home built in 2005 and sitting in the heart of Abundance EcoVillage. With a completely open concept & vaulted ceilings the natural light streams in from every direction. New walkway to front of home. If you are looking for a home to also call your retreat this home will check those boxes. You will feel right at home.

Key facts

• Open concept
• New walkway
• Vaulted ceilings

Tags

• OPEN CONCEPT
• VAULTED CEILINGS
• NEW WALKWAY

What this means for you Summary

Snapshot

• This is a 1-bed/1.0-bath single-family listed at $58k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $126 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($880 rent vs $58k).
• Recommended offer: $51k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.9% 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.
• Zoned schools: Fairfield Middle School (math 63% / reading 70%, grade A-, #148 of 246 statewide, top 61%, 438 students, 51% FRL); Fairfield High School (math 50% / reading 73%, grade B-, #255 of 336 statewide, top 76%, 476 students, 42% FRL).
• 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 $398 of loan paydown is wiped out by about $2k 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.

Negotiation context

• It's been on market 350 days — a 12% lower offer ($51k) is reasonable based on typical stale-listing flexibility.
• 6 sale attempts since 3y ago; this cycle's ask has dropped $28k (32%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $50,600 (12.0% below list)

Questions for the listing agent

1. It's been on market 350 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
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: 1.53% ✓
• Cap rate: 8.92%
• Cash-on-cash: 9.37%
• DSCR: 1.42
• GRM: 5.4

CMA / ARV

• ARV (median comp): $200,015
• List price: $57,500
• Delta: -71.25%
• Verdict: UNDERPRICED
• Comps: 3 within 1.0 mi

Projected returns pro-forma

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

5-year hold

• IRR: -2.0%
• Equity multiple: 0.93×
• Total profit: $-1,189
• Equity at exit: $8,573

10-year hold

• IRR: 7.9%
• Equity multiple: 1.61×
• Total profit: $9,762
• Equity at exit: $4,972

Cash invested: $16,100 (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: 5.4×

Monthly cashflow live

• Estimated rent: $880 medium
• Mortgage (P&I): −$302
• Tax est. 1.5%: −$72 /mo · $862/yr
• Insurance: −$24
• HOA: −$172
• Vacancy / Maint / Mgmt: −$185
• Net cashflow: $126

Break-even live

Break-even rent $721

Max offer price $57,500

Occupancy floor 81%

Sensitivity live

Price	-10% $165	-5% $146	+0% $126	+5% $106	+10% $86
Rent	-10% $56	-5% $91	+0% $126	+5% $161	+10% $195
Rate	-1.0pp $155	-0.5pp $140	base $126	+0.5pp $111	+1.0pp $96

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: $14,375
• Closing costs: $1,725
• Reserves months: —
• Total cash needed: —

HOA detail

• Monthly dues: $172 · $2,064/yr

Listing history 12 events

1. 2026-02-03
   status Active 349-char remark

   Show marketing remark (349 chars)

   Be sure to consider this home built in 2005 and sitting in the heart of Abundance EcoVillage. With a completely open concept & vaulted ceilings the natural light streams in from every direction. New walkway to front of home. If you are looking for a home to also call your retreat this home will check those boxes. You will feel right at home.

2. 2025-12-05
   price $57,500 349-char remark

   Show marketing remark (349 chars)

   Be sure to consider this home built in 2005 and sitting in the heart of Abundance EcoVillage. With a completely open concept & vaulted ceilings the natural light streams in from every direction. New walkway to front of home. If you are looking for a home to also call your retreat this home will check those boxes. You will feel right at home.

3. 2025-12-04
   status Active 349-char remark

   Show marketing remark (349 chars)

   Be sure to consider this home built in 2005 and sitting in the heart of Abundance EcoVillage. With a completely open concept & vaulted ceilings the natural light streams in from every direction. New walkway to front of home. If you are looking for a home to also call your retreat this home will check those boxes. You will feel right at home.

4. 2025-11-12
   historical Active Under Contract 349-char remark

   Show marketing remark (349 chars)

   Be sure to consider this home built in 2005 and sitting in the heart of Abundance EcoVillage. With a completely open concept & vaulted ceilings the natural light streams in from every direction. New walkway to front of home. If you are looking for a home to also call your retreat this home will check those boxes. You will feel right at home.

5. 2025-10-28
   price $69,000 349-char remark

   Show marketing remark (349 chars)

   Be sure to consider this home built in 2005 and sitting in the heart of Abundance EcoVillage. With a completely open concept & vaulted ceilings the natural light streams in from every direction. New walkway to front of home. If you are looking for a home to also call your retreat this home will check those boxes. You will feel right at home.

6. 2025-06-05
   listed $85,000 Active 349-char remark

   Show marketing remark (349 chars)

   Be sure to consider this home built in 2005 and sitting in the heart of Abundance EcoVillage. With a completely open concept & vaulted ceilings the natural light streams in from every direction. New walkway to front of home. If you are looking for a home to also call your retreat this home will check those boxes. You will feel right at home.

7. 2025-02-24
   status Active
8. 2025-02-22
   historical Active Under Contract
9. 2024-11-22
   listed $85,000 Active
10. 2023-11-01
    price $110,000
11. 2023-10-05
    price $145,000
12. 2023-09-22
    listed $175,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 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: $10,559
• − Mortgage interest: −$3,221
• − Property taxes: −$862
• − Insurance: −$288
• − Repairs & maintenance: −$845
• − Management: −$845
• − HOA: −$2,064
• − Depreciation: −$1,673
• Taxable income: $762
• Est. tax owed @ 24.0%: −$183
• After-tax cash flow: $1,326/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.

Condition & rehab AI · 12 photos

Good 75/100 Cosmetic rehab

This home, built in 2005, offers a good condition with a good roof and exterior. It has a good potential for value increase with cosmetic updates such as painting and flooring.

Repairs flagged

• Minor Exposed subfloor — Exposed subfloor in kitchen and bath
• Minor Unfinished cabinets — Exposed subfloor in kitchen and bath

Value-add opportunities

• Resale Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics
• Resale Install flooring — New flooring improves the overall look and feel of the home
• Resale Install cabinets — Completed cabinets add functionality and value
• Resale Paint exterior — Fresh paint enhances curb appeal and exterior aesthetics
• Both Landscaping — Landscaping improves curb appeal and adds value for both resale and rental

Renovation cost estimate screening

Repair item	Severity	Est. cost
Exposed subfloor · Exposed subfloor in kitchen and bath	Minor	$500–3,000
Unfinished cabinets · Exposed subfloor in kitchen and bath	Minor	$500–3,000
Total estimated repair cost · 2 items		$1,000–6,000

Value-add ROI direction

• Resale Paint interior walls — Fresh paint enhances curb appeal and interior aesthetics ↑
• Resale Install flooring — New flooring improves the overall look and feel of the home ↑
• Resale Install cabinets — Completed cabinets add functionality and value ↑
• Resale Paint exterior — Fresh paint enhances curb appeal and exterior aesthetics ↑
• Both Landscaping — Landscaping improves curb appeal and adds value for both resale and rental ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

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

• 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

-67.1% since first listed

12 events — show timeline

• 2026-02-03 Relisted — IAR
• 2025-12-05 Price Changed $57,500 IAR
• 2025-12-04 Relisted — IAR
• 2025-11-12 Contingent — IAR
• 2025-10-28 Price Changed $69,000 IAR
• 2025-06-05 Listed $85,000 IAR
• 2025-02-24 Relisted — IAR
• 2025-02-22 Contingent — IAR
• 2024-11-22 Listed $85,000 IAR
• 2023-11-01 Price Changed $110,000 IAR
• 2023-10-05 Price Changed $145,000 IAR
• 2023-09-22 Listed $175,000 IAR