316 7th St SE · Mason City, IA 50401

$51,900

3 bd · 1.5 ba · 1,444 sqft · SingleFamily public records · 44 Days on market

Built 1921 3,920 sqft lot $36/sqft · 65% below area ↓ 33% since listing

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Why this score? — see what drove the B 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
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +4.5/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Great opportunity in a central location. This solid three-bedroom, two-story home has had key updates started, including new windows, entry door, and roof shingles. With a full basement and detached garage, the property offers plenty of space and potential. Bring your vision and finish the remodel your way. This is a HomePath property. First-time buyers, complete the HomePath Ready Buyer homeownership course on Homepath.com. Attach certificate to offer up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

Key facts

• Entry door
• Central location
• Full basement

Tags

• CENTRAL LOCATION
• NEW WINDOWS
• ENTRY DOOR
• ROOF SHINGLES
• FULL BASEMENT
• DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $52k.

Deal economics

• At list price, monthly cash flow is $809 ($10k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $52k).
• Recommended offer: $50k (3.0% below list) — sets the bar for market timing.
• Cap rate 25.0% vs local median 5.2% 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.
• Market conditions: 153 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $359 of loan paydown is wiped out by about $2k 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 $15k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• It's been on market 44 days — a 3% lower offer ($50k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: property tax is 2.6% of price; built in 1921 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $50,343 (3.0% below list)

Questions for the listing agent

1. It's been on market 44 days. Have you received any prior offers? Is the seller open to a 3% concession, seller financing, or rate buy-down credit?
2. Built in 1921 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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: 2.96% ✓
• Cap rate: 25.00%
• Cash-on-cash: 66.80%
• DSCR: 3.97
• GRM: 2.8

CMA / ARV

• ARV (median comp): $117,514
• List price: $51,900
• Delta: -55.83%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
617 S Washington Ave	0.34mi	3/1.5	1,456 (+1%)	2mo	$114,000	$78	81
308 15th St SE	0.51mi	3/1.5	1,404 (-3%)	1mo	$136,500	$97	71
115 S Hampshire Pl Pl	0.57mi	3/1.8	1,440 (-0%)	3mo	$166,000	$115	70
12 12th St SE	0.40mi	4/1.8 (+1)	1,528 (+6%)	3mo	$135,000	$88	63
616 S President Ave	0.44mi	4/2.0 (+1)	1,374 (-5%)	3mo	$123,000	$90	62
320 1st NE #307 St #307	0.56mi	2/2.0 (-1)	1,418 (-2%)	3mo	$255,000	$180	61
438 4th St SE	0.26mi	3/1.5	1,652 (+14%)	3mo	$172,000	$104	61
116 16th SE	0.61mi	2/1.5 (-1)	1,517 (+5%)	4mo	$120,000	$79	54
1515 S Delaware Ave	0.60mi	3/1.5	1,574 (+9%)	6mo	$140,000	$89	52
320 1st NE #103 St #103	0.56mi	2/2.0 (-1)	1,331 (-8%)	6mo	$250,000	$188	49
690 16th St SE	0.70mi	2/1.0 (-1)	1,527 (+6%)	3mo	$132,000	$86	48
694 15th St SE	0.65mi	3/1.5	1,638 (+13%)	0mo	$167,000	$102	47

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: 66.1%
• Equity multiple: 3.97×
• Total profit: $43,164
• Equity at exit: $7,738

10-year hold

• IRR: 70.4%
• Equity multiple: 8.17×
• Total profit: $104,139
• Equity at exit: $4,487

Cash invested: $14,532 (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 →

ZIP-level market 50401

• Active inventory: 153
• Price-to-rent: 2.8×

Monthly cashflow live

• Estimated rent: $1,536 medium
• Mortgage (P&I): −$272
• Tax from tax record: −$111 /mo · $1,332/yr
• Insurance: −$22
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $809

Break-even live

Break-even rent $512

Max offer price $51,900

Occupancy floor 42%

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: $12,975
• Closing costs: $1,557
• Reserves months: —
• Total cash needed: —

Rent comps 3 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	44d	1	0.60mi
215 2nd St SW Unit 100-210 Mason City, IA	3.0	2.0	1273	$1,580	$1.24	44d	1	0.60mi
12 2nd St NE Unit 6 Mason City, IA	2.0	1.0	1296	$1,600	$1.23	44d	1	0.66mi

Listing history 3 events

1. 2026-05-19
   historical Active Under Contract 547-char remark

   Show marketing remark (547 chars)

   Great opportunity in a central location. This solid three-bedroom, two-story home has had key updates started, including new windows, entry door, and roof shingles. With a full basement and detached garage, the property offers plenty of space and potential. Bring your vision and finish the remodel your way. This is a HomePath property. First-time buyers, complete the HomePath Ready Buyer homeownership course on Homepath.com. Attach certificate to offer up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

2. 2026-04-12
   listed $51,900 Active 547-char remark

   Show marketing remark (547 chars)

   Great opportunity in a central location. This solid three-bedroom, two-story home has had key updates started, including new windows, entry door, and roof shingles. With a full basement and detached garage, the property offers plenty of space and potential. Bring your vision and finish the remodel your way. This is a HomePath property. First-time buyers, complete the HomePath Ready Buyer homeownership course on Homepath.com. Attach certificate to offer up to 3% closing cost assistance. Check HomePath.com for more details. Restrictions apply.

3. 2007-06-05
   soldstatus $77,500

ⓘ 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: $1,332 · $111/mo
• Projected year-2 tax: $1,332 · $111/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ 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: $18,437
• − Mortgage interest: −$2,907
• − Property taxes: −$1,332
• − Insurance: −$260
• − Repairs & maintenance: −$1,475
• − Management: −$1,475
• − Depreciation: −$1,510
• Taxable income: $9,478
• Est. tax owed @ 24.0%: −$2,275
• After-tax cash flow: $7,433/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.

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

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
• City population: 28,818
• Population (ZIP): 28,818

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%

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%

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

Industry mix (Fortune 500 HQ in IA)

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

Price history

-33.0% since first listed

3 events — show timeline

• 2026-05-19 Contingent — IAR
• 2026-04-12 Listed $51,900 IAR
• 2007-06-05 Sold (Public Records) $77,500 Public Records

Property tax history

+1.3%/yr

Latest (2025): $1,332 · +2.9% YoY. Source: county tax records.