Historic
1910 Fairfield Bungalow with Hardwood Floors and New HVAC — $105,000
6
out of 10
HousesUnder150K Score
Property Merit 50% · Condition 25% · Price/Sq Ft 15% · Market 10%
| Category | Wt. | Score | Detail |
|---|---|---|---|
| Property Merit | 50% | 6 | 1910 bungalow, hardwood floors, east-facing, main floor laundry; small lot limits appeal |
| Condition | 25% | 7 | New furnace and central air confirmed; roof and windows unknown; cosmetic work likely |
| Price / Sq Ft | 15% | 6 | Listing $102/sqft vs zip median $98/sqft — slight premium; 7 comps, directional only |
| Price vs. Market | 5% | 7 | $105K vs $181K median — 42% below zip median; strong relative value |
| Market Conditions | 5% | 7 | DOM 74 days, sale-to-list 94%, 37.4% price drops — clear buyer's market |
Fairfield's median home price sits around $181,000. This one is asking $105,000. That gap is wide enough to matter, and it's the first thing worth understanding before anything else about the house.
The house itself is a 1910 bungalow on South 5th Street, three bedrooms and one bath across 1,026 square feet. Hardwood floors throughout. The living and dining area is open between them, which in a house this size keeps things from feeling tight. Main floor laundry, which sounds small until you've lived without it. The orientation is east-facing, so you get morning light in the front rooms.
The mechanical situation is the cleanest part of the story. New furnace and central air, both confirmed. In a 114-year-old house, that's a meaningful line item you don't have to think about. The roof and windows are unknown from what's listed, so those go on your inspection checklist before anything else. Some cosmetic work is likely, which at this price is expected and manageable.
The lot is small. That's a real limitation if you want a yard to use, a garden to grow, or just space between you and the neighbors. It's the honest trade you make at this price in this town.
Fairfield is home to Maharishi University, which gives the town a character that's a little different from most small Iowa cities. That has its own implications depending on what you're looking for, but it means the town has more going on than its size might suggest.
The listing mentions this property as part of a potential package with four other addresses nearby, which signals the seller has some investor interest in mind. That context is worth knowing. But as a standalone house, a 1910 bungalow with hardwood floors and new HVAC at $105,000 in a buyer's market where the median is $181,000 is a pretty clear picture.
You'd be coming in 42% below the zip median, in a market where 37% of listings have taken price cuts and homes are sitting 74 days on average. The leverage is yours.
