Winneshiek County poses a selective underwriting tension: the supplied Zillow county observation for 2026-06 puts median home value at $325,890 after 6.09% year-over-year growth, while $1,015 monthly median asking rent produces a 3.74% gross yield before operating costs. Cash-flow buyers should be cautious and test asset-level expenses. FHFA’s annual 2025 repeat-transaction HPI rose 1.36% year over year and 50.51% cumulatively over five years. It confirms positive direction, not a shared growth rate: it is neither a home value nor a comparable interval to Zillow.
The market-rent measure is a monthly median asking rent and is above the separate HUD two-bedroom FMR. FMR is a payment standard, not an asking-rent estimate, and cannot replace market rent in yield work. The 1.12% effective property-tax rate and $2,894 median annual tax warrant carrying-cost review, though the county tax median cannot be assigned to Zillow’s median-value home. Insurance, repairs, vacancy, financing and property-level assessments are not published; net yield and cash flow therefore cannot be determined.
QCEW’s 2025 annual series measures covered jobs at county workplaces, not resident employment or a forecast. Trade, transportation, and utilities is the largest disclosed private supersector by employment, not the whole economy. Migration records show 26 more tax-return households leaving than arriving, yet incoming movers’ average AGI exceeded outgoing movers’ by $12,658. This requires segment-level tenant and buyer testing. Investors accounted for 14 of 65 purchase mortgages: potential buyer competition, but not proof of all-cash activity or total purchases.
Inland flood is the dominant hazard, and modeled annual climate loss equals 0.15% of building value. This is an expected-loss ratio, not parcel flood probability or an insurance quote. Realtor.com MLS listing price, active listings, days on market and price-reduced share are not published; visible supply, concessions and marketing time cannot be assessed, and these would still be listing rather than closed-sale evidence. Check parcel flood zone and elevation, insurance terms, condition, tax bills, rent comps, vacancy and closed-sale comps. Their absence prevents a site-level entry-price, liquidity and net-income conclusion.