411 E Traer St · Greene, IA 50636

$110,000

3 bd · 1.5 ba · 1,688 sqft · Other public records · 14 Days on market

Built 1889 7,875 sqft lot

---

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 +22.4/30.0
• Appreciation +8.1/10.0
• ARV discount +7.5/15.0
• DSCR +7.2/10.0
• 1% rule +6.0/10.0
• 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

Charming character home on desirable corner lot, featuring cozy front porch with pergola perfect for relaxing. Entering into the home you will find bright living room flowing into the spacious dining room. Main floor bedroom would also make great office or toy room. The kitchen is good size with lots of counter space, pantry and room for breakfast nook. The main floor laundry and half bath round out this level. Heading upstairs you will find full bath with jetted tub/shower. The common area can be used for reading nook or game area. The primary bedroom has lots of closet space. One bedroom is a walk through with no closet and third bedroom has closet outside the room The oversized two stall garage with bar area for entertaining is the icing on the cake!

Key facts

• Main-floor laundry
• Corner lot
• 7,875 sq ft lot

Tags

• CORNER LOT
• MAIN-FLOOR LAUNDRY
• DETACHED TWO-STALL GARAGE
• WELCOMING FRONT PORCH
• VERSATILE COMMON AREA

Property features AI

Exterior

• Parking: Detached carport; 2 carport spaces
• Utilities: Public water; Public sewer
• Home design: Single family residence; Two-story
• Construction: Vinyl siding; Shingle/asphalt roof
• Exterior features: Porch; Corner lot; Concrete road access

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating (natural gas); Ceiling fan cooling
• Interior features: No fireplace; Partially finished basement with exterior entry
• Laundry & utility: Laundry on main level

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath other listed at $110k.

Deal economics

• At list price, monthly cash flow is $183 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $110k).

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) — zoned schools at 30% 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 ($761 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 $31k cash investment doubles in ~3 years — after that, you're playing with house money.
• By year 5, paydown + projected appreciation supports a ~$33k cash-out refi (75% LTV) — recoverable capital for the next deal without selling this one.

Negotiation context

• Only 14 days on market — expect competitive offers; lowballing is unlikely to land.
• 2 sale attempts since 2y 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.
• Current owner paid $90k; 22% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1889 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $110,000

Questions for the listing agent

1. Built in 1889 — 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. 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?
4. 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.
5. 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.
6. 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: 1.10% ✓
• Cap rate: 8.29%
• Cash-on-cash: 7.12%
• DSCR: 1.32
• GRM: 7.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

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

5-year hold

• IRR: 21.7%
• Equity multiple: 2.45×
• Total profit: $44,723
• Equity at exit: $70,532

10-year hold

• IRR: 20.6%
• Equity multiple: 4.97×
• Total profit: $122,152
• Equity at exit: $129,117

Cash invested: $30,800 (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: 7.6×

Monthly cashflow live

• Estimated rent: $1,205 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$147 /mo · $1,760/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$253
• Net cashflow: $183

Break-even live

Break-even rent $974

Max offer price $110,000

Occupancy floor 80%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Listing history 11 events

1. 2026-06-18
   days on market $110,000 Active 14 DOM
2. 2026-06-17
   days on market $110,000 Active 13 DOM
3. 2026-06-16
   days on market $110,000 Active 12 DOM
4. 2026-06-15
   days on market $110,000 Active 11 DOM
5. 2026-06-13
   days on market $110,000 Active 9 DOM
6. 2026-06-12
   days on market $110,000 Active 8 DOM
7. 2026-06-09
   days on market $110,000 Active 5 DOM
8. 2026-06-08
   days on market $110,000 Active 4 DOM
9. 2026-06-07
   days on market $110,000 Active 3 DOM
10. 2026-06-07
    remarks 699-char remark
11. 2026-06-07
    listed $110,000 Active 2 DOM

ⓘ 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: $1,760 · $147/mo
• Projected year-2 tax: $1,760 · $147/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 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: $14,463
• − Mortgage interest: −$6,162
• − Property taxes: −$1,760
• − Insurance: −$550
• − Repairs & maintenance: −$1,157
• − Management: −$1,157
• − Depreciation: −$3,200
• Taxable income: $477
• Est. tax owed @ 24.0%: −$114
• After-tax cash flow: $2,079/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

+10.1% since first listed

7 events — show timeline

• 2026-06-04 Listed $110,000 NEIRBR as distributed by MLS GRID
• 2024-11-12 Sold (Public Records) $90,000 Public Records
• 2024-11-08 Sold (MLS) $90,000 NEIRBR as distributed by MLS GRID
• 2024-09-23 Pending — NEIRBR as distributed by MLS GRID
• 2024-08-30 Price Changed $95,000 NEIRBR as distributed by MLS GRID
• 2024-08-27 Price Changed $95,900 NEIRBR as distributed by MLS GRID
• 2024-07-31 Listed $99,900 NEIRBR as distributed by MLS GRID

Property tax history

+2.9%/yr

Latest (2025): $1,760 · -3.9% YoY. Source: county tax records.