Audubon County’s decision tension is whether positive price indicators can support an acquisition case despite softer listing evidence, falling covered employment, and no measured market rent. Underwriters relying on income coverage should be cautious and investigate local lease and resale evidence. Zillow’s county median home value in 2026-06 was $161,635, up 6.91% year over year. FHFA’s annual 2025 repeat-transaction HPI rose 19.88%; it confirms a positive direction, but it is an index rather than a home value and is neither the same vintage nor method as Zillow’s measure.
Income underwriting is the principal gap: market rent is not published, so gross yield cannot be computed. HUD’s published two-bedroom Fair Market Rent is a payment standard, not observed asking rent, and cannot substitute for market rent or support a yield calculation. The effective property-tax rate is 1.34%, a carrying-cost input, but county figures do not establish the assessment, tax bill, operating expenses, vacancy, or maintenance needs of a specific property.
Realtor.com MLS evidence in 2026-06 shows active listings rose year over year while median listing price fell 9.87%. These are visible asking-supply and seller-positioning measures, not closed-sale prices or proof of buyer demand. Annual 2025 QCEW workplace employment fell 1.47%; this is covered employment at county workplaces, not resident employment or unemployment. Trade, transportation, and utilities is the largest disclosed private supersector, not a description of the whole economy. Tax-return movers recorded a net outflow of 31, although incoming movers’ average AGI was $13,625 higher than outgoing movers’. Investor mortgages were 5 of 35 purchases, a calculated 14.29%, indicating present but minority participation in that recorded purchase set.
The dominant reported hazard is inland flood, and modeled climate loss equals 0.17% of building value per year. That modeled ratio is not a property-specific flood determination or insurance quote, so elevation, prior losses, flood-zone status, and coverage terms need review. Required next evidence is property-level market-rent comparables, closed-sale comparables, insurance pricing, inspection findings, operating costs, and tax assessment details; without them, gross yield, cash flow, resale value, and hazard-adjusted carrying cost cannot be underwritten.