1055 Crestmore Way Way · Mason City, IA 50401

$105,000

1 bd · 2.5 ba · 1,240 sqft · SingleFamily public records · 217 Days on market

Built 1960 Good condition 6,820 sqft lot $85/sqft · 34% below area Est $158k · 34% under ↓ 14% since listing

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Why this score? — see what drove the A- 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 +30.0/30.0
• ARV discount +15.0/15.0
• DSCR +10.0/10.0
• 1% rule +9.4/10.0
• Schools +6.0/10.0
• Livability +4.0/5.0
• Condition / age +4.0/5.0
• Rent growth +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

This 2-bedroom, 1.5-bath ranch-style home offers incredible potential and just needs a little TLC to bring it back to its former glory. Featuring handicap-accessible main-level living, a huge kitchen with abundant cabinet space, a formal dining area, and a layout filled with natural light from numerous windows. Additional highlights include a 2-stall attached garage, front deck, back patio, and plenty of storage throughout. The basement offers excellent storage and the opportunity to add additional bedroom space with the installation of egress. A fantastic opportunity to add value and make it your own!

Key facts

• Front deck
• Formal dining area
• Back patio

Tags

• FORMAL DINING AREA
• FRONT DECK
• BACK PATIO
• PLENTY OF STORAGE THROUGHOUT
• EXCELLENT STORAGE IN BASEMENT

What this means for you Summary

Snapshot

• This is a 1-bed/2.5-bath single-family listed at $105k. Condition is rated good.

Deal economics

• At list price, monthly cash flow is $576 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $105k).
• Recommended offer: $92k (12.0% below list) — sets the bar for market timing.
• Cap rate 12.9% vs local median 5.3% in Mason City — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 81/100 on livability (#67 in IA, #1,477 nationally) — a professional / high-income tenant draw. Strengths: commute A+, cost of living A+, housing A+; Watch: amenities F.
• Mason City Community School District (town): math 50% / reading 58% proficiency, ranked #271 of 289 in IA (top 94%) — acceptable for families but not a draw, mixed tenant base, ~2y average lease.
• Zoned schools: Jefferson Elementary School (math 77% / reading 67%, grade A-, #181 of 616 statewide, top 34%, 317 students, 47% FRL); John Adams Middle School (math 46% / reading 54%, grade C, #216 of 246 statewide, top 88%, 480 students, 56% FRL); Mason City High School (math 50% / reading 63%, grade C, #286 of 336 statewide, top 85%, 956 students, 46% FRL).
• Market conditions: 239 active listings in the ZIP; 2 comparable units currently listed for rent nearby; 54 units permitted in Cerro Gordo County in 2024 (6 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $726 of loan paydown is wiped out by about $3k of value loss. Plan a longer hold.
• Cerro Gordo County population projected at -18% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $29k cash investment doubles in ~6 years — after that, you're playing with house money.

Negotiation context

• It's been on market 217 days — a 12% lower offer ($92k) is reasonable based on typical stale-listing flexibility.

Recommended offer $92,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 217 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1960 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. 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.
6. 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.
7. 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: 1.44% ✓
• Cap rate: 12.88%
• Cash-on-cash: 23.52%
• DSCR: 2.05
• GRM: 5.8

CMA / ARV

• ARV (median comp): $158,288
• List price: $105,000
• Delta: -33.67%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
706 6th Pl Pl SE	0.50mi	2/1.8 (+1)	1,239 (-0%)	8mo	$140,000	$113	61
503 S Tennessee Pl #104 Pl	0.41mi	2/1.8 (+1)	1,176 (-5%)	14mo	$179,000	$152	52
422 S Tennessee Pl #1 Pl Unit 1	0.44mi	2/1.0 (+1)	1,216 (-2%)	21mo	$151,900	$125	47
804 S Kentucky Ave	0.21mi	2/1.0 (+1)	1,094 (-12%)	17mo	$107,000	$98	46
503 S Tennessee Pl Pl #101	0.41mi	2/1.8 (+1)	1,176 (-5%)	22mo	$185,900	$158	45
804 SE 5th St	0.56mi	2/1.0 (+1)	1,128 (-9%)	7mo	$130,127	$115	42
1712 S Hampshire Ave	0.63mi	2/1.8 (+1)	1,361 (+10%)	12mo	$150,000	$110	36
310 S Tennessee Ave	0.53mi	2/1.0 (+1)	1,382 (+12%)	11mo	$151,900	$110	36
612 S Carolina Ave	0.70mi	2/1.5 (+1)	1,392 (+12%)	15mo	$60,100	$43	26

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

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

5-year hold

• IRR: 16.6%
• Equity multiple: 1.67×
• Total profit: $19,649
• Equity at exit: $15,656

10-year hold

• IRR: 25.1%
• Equity multiple: 3.18×
• Total profit: $64,194
• Equity at exit: $9,078

Cash invested: $29,400 (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 →

Balanced market Market conditions within 1.0 mi — comparable homes for sale

Active competition Active MLS

• For sale now: 5 active · 3 under contract
• Months of supply: 3.8 mo (27%/mo absorbed)
• Median asking: $149,750 ($133/sqft)
• Median days on market: 52 d
• This list price: lowest-priced of the active set
• ARV vs active asking: -3.7% vs current asking $/sqft

Closed sales set the value; these active listings set current market conditions and a practical price ceiling.

ZIP-level market 50401

• Active inventory: 239
• Price-to-rent: 5.8×

Monthly cashflow live

• Estimated rent: $1,508 medium
• Mortgage (P&I): −$551
• Tax from tax record: −$21 /mo · $248/yr
• Insurance: −$44
• HOA: −$0
• Vacancy / Maint / Mgmt: −$317
• Net cashflow: $576

Break-even live

Break-even rent $779

Max offer price $105,000

Occupancy floor 57%

Sensitivity live

Price	-10% $636	-5% $606	+0% $576	+5% $547	+10% $517
Rent	-10% $457	-5% $517	+0% $576	+5% $636	+10% $695
Rate	-1.0pp $629	-0.5pp $603	base $576	+0.5pp $549	+1.0pp $521

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: $26,250
• Closing costs: $3,150
• Club membership (one-time): —
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
110 N Delaware Ave Unit 211 Mason City, IA	2.0	1.0	919	$1,395	$1.52	94d	1	1.33mi
12 2nd St NE Unit 6 Mason City, IA	2.0	1.0	1296	$1,600	$1.23	94d	1	1.40mi

Listing history 50 events

1. 2026-08-09
   days on market $105,000 Active 217 DOM
2. 2026-08-08
   days on market $105,000 Active 216 DOM
3. 2026-08-07
   days on market $105,000 Active 215 DOM
4. 2026-08-06
   days on market $105,000 Active 214 DOM
5. 2026-08-05
   days on market $105,000 Active 213 DOM
6. 2026-08-04
   days on market $105,000 Active 212 DOM
7. 2026-08-03
   days on market $105,000 Active 211 DOM
8. 2026-07-30
   days on market $105,000 Active 210 DOM
9. 2026-07-29
   days on market $105,000 Active 209 DOM
10. 2026-07-27
    days on market $105,000 Active 207 DOM
11. 2026-07-25
    days on market $105,000 Active 205 DOM
12. 2026-07-24
    days on market $105,000 Active 204 DOM
13. 2026-07-23
    days on market $105,000 Active 203 DOM
14. 2026-07-22
    days on market $105,000 Active 202 DOM
15. 2026-07-21
    days on market $105,000 Active 201 DOM
16. 2026-07-19
    pricestatus $105,000 Active 198 DOM
17. 2026-07-18
    days on market $120,000 Active Under Contract 198 DOM
18. 2026-07-16
    days on market $120,000 Active Under Contract 196 DOM
19. 2026-07-15
    days on market $120,000 Active Under Contract 195 DOM
20. 2026-07-14
    days on market $120,000 Active Under Contract 194 DOM
21. 2026-07-13
    days on market $120,000 Active Under Contract 193 DOM
22. 2026-07-12
    days on market $120,000 Active Under Contract 192 DOM
23. 2026-07-12
    days on market $120,000 Active Under Contract 191 DOM
24. 2026-07-10
    days on market $120,000 Active Under Contract 190 DOM
25. 2026-07-09
    days on market $120,000 Active Under Contract 189 DOM
26. 2026-07-09
    days on market $120,000 Active Under Contract 188 DOM
27. 2026-07-07
    days on market $120,000 Active Under Contract 187 DOM
28. 2026-07-06
    days on market $120,000 Active Under Contract 186 DOM
29. 2026-07-05
    days on market $120,000 Active Under Contract 185 DOM
30. 2026-07-04
    days on market $120,000 Active Under Contract 184 DOM
31. 2026-07-03
    days on market $120,000 Active Under Contract 183 DOM
32. 2026-07-02
    days on market $120,000 Active Under Contract 182 DOM
33. 2026-07-01
    days on market $120,000 Active Under Contract 181 DOM
34. 2026-06-30
    days on market $120,000 Active Under Contract 180 DOM
35. 2026-06-29
    days on market $120,000 Active Under Contract 179 DOM
36. 2026-06-28
    days on market $120,000 Active Under Contract 178 DOM
37. 2026-06-27
    days on market $120,000 Active Under Contract 177 DOM
38. 2026-06-26
    days on market $120,000 Active Under Contract 175 DOM
39. 2026-06-22
    days on market $120,000 Active Under Contract 172 DOM
40. 2026-06-21
    days on market $120,000 Active Under Contract 171 DOM
41. 2026-06-21
    days on market $120,000 Active Under Contract 170 DOM
42. 2026-06-18
    days on market $120,000 Active Under Contract 168 DOM
43. 2026-06-17
    days on market $120,000 Active Under Contract 167 DOM
44. 2026-06-16
    days on market $120,000 Active Under Contract 166 DOM
45. 2026-06-15
    days on market $120,000 Active Under Contract 165 DOM
46. 2026-06-13
    days on market $120,000 Active Under Contract 163 DOM
47. 2026-06-12
    statusdays on market $120,000 Active Under Contract 162 DOM
48. 2026-06-09
    days on market $120,000 Active 159 DOM
49. 2026-06-08
    days on market $120,000 Active 158 DOM
50. 2026-06-07
    days on market $120,000 Active 157 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: $248 · $21/mo
• Projected year-2 tax: $948 · $79/mo
• Expected delta: +$700/yr (+$58/mo · 282.4%)

ⓘ 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 1/10 Low
• 🌡 Heat 2/10 Low 7 d/yr ≥100°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: $18,097
• − Mortgage interest: −$5,882
• − Property taxes: −$248
• − Insurance: −$525
• − Repairs & maintenance: −$1,448
• − Management: −$1,448
• − Depreciation: −$3,055
• Taxable income: $5,493
• Est. tax owed @ 24.0%: −$1,318
• After-tax cash flow: $5,598/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.

Condition & rehab AI · 9 photos

Good 80/100 Cosmetic rehab Est. rehab $6,200–$18,600 screening

This 2-bedroom, 1.5-bath ranch-style home is in good condition with cosmetic updates needed to enhance its curb appeal and value.

Value-add opportunities

• Resale Paint exterior siding — Fresh paint enhances curb appeal and property value ↑
• Rental Clean gutters — Clean gutters improve drainage and reduce maintenance costs ↑

ⓘ Rehab cost is a screening estimate — Cosmetic scope × the home's square footage at US $/sqft rules of thumb (the same model as the Flip Finder). Get contractor quotes + a written scope before underwriting.

D Composite school gradezoned avg 60/100

Zoned Schools

Elementary Jefferson Elementary School A- IA #181/616 Nat'l #2,792/41,679 Middle John Adams Middle School C IA #216/246 Nat'l #3,460/14,009 High Mason City High School C IA #286/336 Nat'l #4,271/17,239

Schools (NCES district)

• District: Mason City Community School District
• NCES district ID: 1918780
• Math proficiency: 50% ▼ -1.00%
• Reading proficiency: 58% ▼ -7.00%
• Median HH income: $43,668
• Composite: 45.47/100
• National rank: #2614
• State rank: #271 of 289 in IA

A Composite livability gradescore 81/100

Livability — Mason City

• Score: 81/100
• State rank: #67
• US rank: #1477

Category grades

Amenities F Commute A+ Cost of living A+ Crime C+ Employment C Housing A+ Health & safety A+ User ratings F

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mason City, IA
• County: Cerro Gordo · 41,080 people
• City population: 28,818
• Population (ZIP): 28,818
• Household income: $63,807
• Rent vs Own: 31.8% rent · 68.2% own
• Severe rent burden: 8% of renters

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Population outlook (Cerro Gordo County) Hauer SSP2

• Today (2025): 41,080 people
• By 2030: 39,746 · -3.2%
• By 2040: 36,608 · -10.9%
• By 2050: 33,682 · -18.0%
• By 2075: 29,702 · -27.7%
• By 2100: 27,399 · -33.3%

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Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Hispanic / Latino 6% Two or more races 5% Black 3% Asian 1%
• Hispanic origin (detail): Mexican 5%
• Common ancestry: Portuguese 12% Iranian 2% Lithuanian 2%
• Foreign-born: 2% · Canada, Vietnam
• Languages at home: 96% English-only · Spanish 3% Other Asian/Pacific 1%

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Political lean MEDSL · Cerro Gordo

• 2024 margin: R (+11.7) · D 43.4% · R 55.0% · Other 1.6%
• 2008→2024 swing: -32.5pp toward R · 2008: 20.8pp · 2024: -11.7pp
• All cycles: 2024: R+11.7 2020: R+6.3 2016: R+7.7 2012: D+13.2 2008: D+20.8

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -130.01%
• Current HPI: 199.1966
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 2.48%
• F500 in state: 4

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Industry mix (Fortune 500 HQ in IA)

Industry	F500 HQs	Revenue
▸Financial Services	1	$16B
▸Retail / Convenience	1	$15B

Price history

-14.3% since first listed

3 events — show timeline

• 2026-04-17 Price Changed $120,000 Greater Mason BOR
• 2026-01-20 Price Changed $130,000 Greater Mason BOR
• 2026-01-01 Listed $140,000 Greater Mason BOR