521 N West Ave · Mason City, IL 62664

$24,900

3 bd · 2.0 ba · 1,465 sqft · SingleFamily · 124 Days on market

Built 1973 0.88 ac lot ↓ 50% since listing

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks

Wooded corner lot. Home has large sqft and lots of potential. 3 bedrooms, living room with fireplace, formal dining room and eat in kitchen. 2 car attached garage and partial basement.

Key facts

• Formal dining room
• Eat in kitchen
• Partial basement

Tags

• WOODED CORNER LOT
• LIVING ROOM WITH FIREPLACE
• FORMAL DINING ROOM
• EAT IN KITCHEN
• PARTIAL BASEMENT

What this means for you Summary

Snapshot

• This is a 3-bed/2.0-bath single-family listed at $25k.

Deal economics

• At list price, monthly cash flow is $749 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $25k).
• Recommended offer: $22k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#620 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, amenities F, commute F.
• Illini Central CUSD 189 (rural): math 11% / reading 18% proficiency, ranked #514 of 620 in IL (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Illini Central High School (math 5% / reading 15%, grade F, #528 of 693 statewide, top 82%, 185 students, 0% FRL) — zoned schools average 0% FRL vs 44% district-wide (44 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 12 active listings in the ZIP; 7 units permitted in Mason County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $172 of loan paydown is wiped out by about $747 of value loss. Plan a longer hold.
• Mason County population projected at -30% 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 $7k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 124 days — a 12% lower offer ($22k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $25k (50%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Recommended offer $21,912 (12.0% below list)

Questions for the listing agent

1. It's been on market 124 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 1973 — 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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
6. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
7. 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.
8. 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.
9. 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: 4.68% ✓
• Cap rate: 42.38%
• Cash-on-cash: 128.87%
• DSCR: 6.73
• GRM: 1.8

CMA / ARV

• ARV (on-the-fly): $137,710
• Comps found: 9

Show comp detail 9 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
320 N West Ave	0.16mi	3/1.0	1,385 (-6%)	0mo	$175,000	$126	79
428 W Walnut St	0.20mi	3/2.0	1,617 (+10%)	7mo	$169,000	$105	68
202 S Logan St	0.54mi	3/1.0	1,486 (+1%)	7mo	$85,000	$57	63
116 S Logan St	0.50mi	2/1.0 (-1)	1,442 (-2%)	4mo	$76,000	$53	62
408 N Main St	0.45mi	3/2.0	1,593 (+9%)	7mo	$150,000	$94	58
115 S Logan St	0.52mi	2/1.0 (-1)	1,498 (+2%)	9mo	$115,000	$77	56
408 N Morgan St	0.38mi	3/2.0	1,639 (+12%)	13mo	$165,000	$101	52
310 NW Avenue St	0.18mi	3/3.5	1,640 (+12%)	22mo	$192,500	$117	47
215 W Roosevelt Rd	0.33mi	3/1.0	1,280 (-13%)	21mo	$88,000	$69	42

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: —
• Equity multiple: 7.26×
• Total profit: $43,671
• Equity at exit: $3,713

10-year hold

• IRR: —
• Equity multiple: 15.27×
• Total profit: $99,506
• Equity at exit: $2,153

Cash invested: $6,972 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 43 Moderately Tenant-Leaning
• State Illinois: 43 Moderately Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Chicago RTLO is among the strongest tenant ordinances in the Midwest; downstate is more landlord-friendly.

Methodology + full state rankings →

ZIP-level market 62664

• Home prices YoY: -13.9%
• Active inventory: 12
• Price-to-rent: 1.8×

Monthly cashflow live

• Estimated rent: $1,166 medium
• Mortgage (P&I): −$131
• Tax est. 1.5%: −$31 /mo · $374/yr
• Insurance: −$10
• HOA: −$0
• Vacancy / Maint / Mgmt: −$245
• Net cashflow: $749

Break-even live

Break-even rent $218

Max offer price $24,900

Occupancy floor 31%

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: $6,225
• Closing costs: $747
• Reserves months: —
• Total cash needed: —

Listing history 7 events

1. 2026-03-29
   status Pending
2. 2026-03-29
   status Active
3. 2026-03-21
   status Pending
4. 2026-02-20
   price $24,900
5. 2026-01-21
   price $34,900
6. 2025-12-17
   price $39,900
7. 2025-11-17
   listed $49,900 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (unshaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $13,987
• − Mortgage interest: −$1,395
• − Property taxes: −$374
• − Insurance: −$124
• − Repairs & maintenance: −$1,119
• − Management: −$1,119
• − Depreciation: −$724
• Taxable income: $9,132
• Est. tax owed @ 24.0%: −$2,192
• After-tax cash flow: $6,793/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: Illini Central CUSD 189
• NCES district ID: 1700113
• Math proficiency: 11% ▼ -11.00%
• Reading proficiency: 18% ▼ -18.00%
• Median HH income: $46,086
• Composite: 12.95/100
• National rank: #9574
• State rank: #514 of 620 in IL

Livability — Mason City

• Score: 65/100
• State rank: #620
• US rank: #12714

Category grades

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

Schools grade is shown separately in the Schools card above.

Census & demographics

• Population (ZIP): 2,848

Population outlook (Mason County) Hauer SSP2

• Today (2025): 12,087 people
• By 2030: 11,283 · -6.7%
• By 2040: 9,766 · -19.2%
• By 2050: 8,421 · -30.3%
• By 2075: 5,785 · -52.1%
• By 2100: 3,888 · -67.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2% Black 1%
• Common ancestry: Lithuanian 3% Romanian 3% Italian 2%
• Languages at home: 98% English-only · French/Haitian/Cajun 1% Spanish 1%

Political lean MEDSL · Mason

• 2024 margin: Solid R (+42.2) · D 27.8% · R 70.1% · Other 2.1%
• 2008→2024 swing: -48.1pp toward R · 2008: 5.9pp · 2024: -42.2pp
• All cycles: 2024: R+42.2 2020: R+39.5 2016: R+31.8 2012: R+6.3 2008: D+5.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -18.38%
• Current HPI: 114.2568
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.59%
• F500 in state: 60

Industry mix (Fortune 500 HQ in IL)

Industry	F500 HQs	Revenue
▸Insurance	4	$201B
▸Consumer Goods	4	$87B
▸Industrial Machinery	3	$64B
▸Healthcare	2	$55B
▸Retail / Pharmacy	1	$148B
▸Agriculture / Food	1	$86B

Price history

-50.1% since first listed

7 events — show timeline

• 2026-03-29 Pending — RMLSA as Distributed by MLS Grid
• 2026-03-29 Relisted — RMLSA as Distributed by MLS Grid
• 2026-03-21 Pending — RMLSA as Distributed by MLS Grid
• 2026-02-20 Price Changed $24,900 RMLSA as Distributed by MLS Grid
• 2026-01-21 Price Changed $34,900 RMLSA as Distributed by MLS Grid
• 2025-12-17 Price Changed $39,900 RMLSA as Distributed by MLS Grid
• 2025-11-17 Listed $49,900 RMLSA as Distributed by MLS Grid

Property tax history

-2.4%/yr

Latest (2024): $1,366 · -3.5% YoY. Source: county tax records.