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3508 540th St SW, Riverside, IA, 52327

2beds
1baths
1,220sqft
$420,000
$344price/sqft
$2,961/moest. monthly cost
$118,440/yrincome needed

About This Home

Escape to the quiet of the countryside while staying just minutes from the conveniences of town! Consisting of 3.99+/- acres, this versatile rural property sits approximately 10 +/- minutes from Riverside and only 20 +/- minutes from Iowa City, offering the perfect balance of access to nearby towns/cities and peaceful country living! As you pull into the property, you'll immediately be greeted by the wildlife that roam the surrounding woods and the wonderful setting the property provides. The primary feature of the property is the beautiful, red farmhouse! This 2 bedroom, 1 bathroom home has been updated over the years with newer flooring and fresh interior paint, creating a warm and inviting place to call home. Updated in 2025, there is a high-efficiency LP furnace, paired with a wood-burning heating system, offering an economical heating option during the winter months. One of the property's greatest assets is its exceptional collection of outbuildings. The detached two-stall garage is fully heated with in-floor heat, making it an ideal space for vehicles, or year-round workshop use. Just beyond the garage sits an approximately 30' x 40' shop featuring partial in-floor heat, providing abundant space for equipment, hobbies, woodworking, storage, or even a home business. Additional improvements include multiple wells, including a newer well servicing the home, along with updated septic and utility improvements completed in 2022 and 2021. The nearly 4+/- acres provide plenty of room to garden, raise a few animals, enjoy outdoor recreation, or simply relax and take in the peaceful rural surroundings. Properties offering this combination of country living, functional improvements, and close proximity to Iowa City are few and far between. If you are looking for a peaceful home with an even better location, this Riverside acreage is ready for its next owner to make it their own! All showings are by appointment only. Disclaimer: The boundary lines shown are approximate and are provided for general reference only. AHLC makes no representations or warranties, express or implied, as to the accuracy, completeness, or reliability of those property lines. Buyers are advised to obtain an independent survey to verify exact property boundaries.

Getting Around

0
WalkingCar-Dependent
0
TransitVery Limited Transit
19
BikeSomewhat Bikeable

Schools

3/10
Alexander ElementaryGrades PK-56.8 mi
5/10
8/10
West Senior High SchoolGrades 9-127.9 mi

Construction

Type & Style

  • Home type: SingleFamily
  • Property subType: Single Family Residence

Interior

Basement

  • Area: 0

Bedrooms & Bathrooms

  • Bedrooms: 2
  • Bathrooms: 1
  • Full bathrooms: 1

Features

  • Finished area above ground: 1,220

Heating

  • Heating features: Has Heating (Unspecified Type)

Interior Area

  • Total structure area: 1,220
  • Total interior livable area: 1,220 sqft

Property

Details

  • Parcel number: 1519451003
  • Lease amount: 0

Features

  • Fencing: Fenced
  • Waterfront features: Creek

Lot

  • Lot size: 3.99 Acres

Climate Risk is Financial Risk

Every home has a financial story beyond the listing price. Below, you’ll see the climate risks that could affect this property — and in Bills & Affordability, how those risks may influence repairs, insurance, utilities, and long-term value.

Biggest Threats for This Home

  • Strong Wind
    Strong WindVery High
  • Tornado
    TornadoVery High
  • Cold Wave
    Cold WaveRelatively High
  • Hail
    HailRelatively High
  • Winter Weather
    Winter WeatherRelatively High
  • Drought
    DroughtModerate
  • Heat Wave
    Heat WaveModerate
  • Inland Flooding
    Inland FloodingModerate
  • Ice Storm
    Ice StormModerate
  • Lightning
    LightningModerate

How This Home’s Risks Compare

Strong Wind
Tornado
Cold Wave
Hail
Winter Weather
Drought
Heat Wave
Inland Flooding
Ice Storm
Lightning

FEMA Declared Disasters Across Iowa Counties

Tornado

Understanding the Costs

Financial advisors generally recommend spending no more than 30% of your gross household income on housing costs. In practice, many households stretch to 35% or beyond — especially in high-cost markets.

Estimated Costs Today

MonthlyAnnual
Mortgage $2,123$25,476
Home Insurance *$301$3,612
Property Taxes $416$4,992
Electricity $121$1,452
Total$2,961$35,532
*Does not include cost of any FAIR Plan premiums

Income You'd Need if You Spent...

35% on housing$101,520/yr
40% on housing$88,830/yr
45% on housing$78,960/yr

Iowa FAIR Plan Programs

Iowa FAIR Plan Association

Covered
WildfireWildfire
Visit Website →
Current Policies
Residential: 1,021Commercial: 22
Total Premiums$1.14M
Total Exposure$85.68M

How Costs Could Change Over Time

Climate risk is quickly impacting all of the major home ownership costs. Adjust the growth rates and percentage of income spent on housing below to see how your housing costs could change over the next 10 years — and what income you'd need to keep up.

Insurance Growth Rate5-year average: 11.3%
11.3%
0%30.0%
Electricity Growth Rate10-year average: 1.9%
1.9%
0%15.0%
Property Taxes Growth Rate2-year average: -1.0%
-1.0%
0%15.0%
Income Spent on Housing
30%
30%45%

Comparing Against the Market

Price Per Sq Ft

$344This listing

vs Other Active Listings

Avg $/sqft

ZIP 52327$172
Johnson County$186

vs Homes Sold Last Month

Median $/sqft

ZIP 52327$127
Johnson County$179

Current Market Trends

Median Price Per Square Foot

The median price per square foot of homes sold in this area each month. Compare this to this listing's price per square foot to gauge whether the home is priced in line with recent sales.

Historicals for This Listing

Zestimate History ($/sqft)

Price History

DateEventPrice
2026-08-10Price change$399,999
2026-07-07Listed for sale$420,000
2026-06-30Listing removed--
2026-05-14Listed for sale$430,000
2008-12-03Sold$78,500

For Sale by Agent

AgentWade Whiting
BrokerageArrowhead Land Company

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