908 S Virginia Ave · Mason City, IA 50401

$149,500

3 bd · 1.5 ba · 1,453 sqft · SingleFamily public records · 30 Days on market

Built 1958 6,098 sqft lot Est $142k · at est.

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Why this score? — see what drove the C- 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 +21.5/30.0
• DSCR +6.9/10.0
• 1% rule +5.3/10.0
• ARV discount +5.3/15.0
• 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

Charming Story-and-a-Half Home Full of Character and Comfort! This inviting home features 3 bedrooms, including 2 conveniently located on the main level and a spacious upper-level retreat perfect for a private primary bedroom, office, or flex space. Beautiful wood floors add warmth and charm throughout the living room and bedrooms, while the bright eat-in kitchen offers a cozy space for everyday meals and gatherings. The ready-to-finish lower-level family room provides extra living and entertaining space, complete with a half bath and excellent storage options. Enjoy peace of mind with newer mechanicals including the furnace, central air, and water heater. Step outside to a fun patio and backyard ideal for relaxing, grilling, or hosting friends and family. Appliances are included, making this home move-in ready. Don’t miss this adorable and well-maintained home — schedule your showing today!

Key facts

• Wood floors
• Patio and backyard
• Eat-in kitchen

Tags

• WOOD FLOORS
• EAT-IN KITCHEN
• LOWER-LEVEL FAMILY ROOM
• PATIO AND BACKYARD
• NEWER MECHANICALS

Property features AI

Exterior

• Parking: Detached concrete garage with 1 garage space
• Utilities: Public water; Public sewer
• Home design: Single-family residence; 2 stories
• Construction: Metal siding; Below-grade finished area
• Exterior features: Fenced yard; Asphalt roof

Interior

• Kitchen: Electric range; Refrigerator
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Vinyl; Wood
• Bathrooms: 1 main-level bathroom
• Heating & cooling: Forced air heating; Central air; Ceiling fan(s)
• Interior features: Eat-in kitchen; Full, partially finished basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $224 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $150k).
• Recommended offer: $147k (1.5% below list) — sets the bar for market timing.
• Cap rate 8.1% 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: 158 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 46d 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 $1k of loan paydown is wiped out by about $4k 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.

Negotiation context

• It's been on market 30 days — a 2% lower offer ($147k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 8y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $76k; list at $150k implies a 97% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1958 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $147,257 (1.5% below list)

Questions for the listing agent

1. Built in 1958 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.03% ✓
• Cap rate: 8.09%
• Cash-on-cash: 6.41%
• DSCR: 1.29
• GRM: 8.1

CMA / ARV

• ARV (on-the-fly): $142,394
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
115 S Hampshire Pl Pl	0.55mi	3/1.8	1,440 (-1%)	3mo	$166,000	$115	70
1806 S Hampshire Ave	0.59mi	3/1.0	1,471 (+1%)	2mo	$143,900	$98	67
308 15th St SE	0.57mi	3/1.5	1,404 (-3%)	1mo	$136,500	$97	67
690 16th St SE	0.41mi	2/1.0 (-1)	1,527 (+5%)	3mo	$132,000	$86	63
694 15th St SE	0.34mi	3/1.5	1,638 (+13%)	1mo	$167,000	$102	62
616 S Louisiana Ave	0.58mi	3/1.0	1,561 (+7%)	2mo	$146,000	$94	56
708 16th St SE	0.41mi	3/1.0	1,662 (+14%)	0mo	$142,000	$85	55
706 6th Pl Pl SE	0.22mi	2/1.8 (-1)	1,239 (-15%)	7mo	$140,000	$113	54
32 S Tennessee Ave	0.65mi	3/1.2	1,308 (-10%)	2mo	$169,000	$129	50
438 4th St SE	0.53mi	3/1.5	1,652 (+14%)	3mo	$172,000	$104	50
12 12th St SE	0.72mi	4/1.8 (+1)	1,528 (+5%)	3mo	$135,000	$88	49
1044 Maple Dr Dr	0.69mi	3/1.0	1,593 (+10%)	7mo	$152,000	$95	44

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: -6.4%
• Equity multiple: 0.76×
• Total profit: $-9,985
• Equity at exit: $22,291

10-year hold

• IRR: 3.2%
• Equity multiple: 1.23×
• Total profit: $9,633
• Equity at exit: $12,926

Cash invested: $41,860 (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: 158
• Price-to-rent: 8.1×

Monthly cashflow live

• Estimated rent: $1,536 medium
• Mortgage (P&I): −$784
• Tax from tax record: −$144 /mo · $1,724/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $224

Break-even live

Break-even rent $1,253

Max offer price $149,500

Occupancy floor 80%

Sensitivity live

Price	-10% $308	-5% $266	+0% $224	+5% $181	+10% $139
Rent	-10% $102	-5% $163	+0% $224	+5% $284	+10% $345
Rate	-1.0pp $299	-0.5pp $262	base $224	+0.5pp $185	+1.0pp $145

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: $37,375
• Closing costs: $4,485
• 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	45d	1	1.03mi
12 2nd St NE Unit 6 Mason City, IA	2.0	1.0	1296	$1,600	$1.23	45d	1	1.09mi
215 2nd St SW Unit 100-210 Mason City, IA	3.0	2.0	1273	$1,580	$1.24	45d	1	1.10mi

Listing history 24 events

1. 2026-06-22
   days on market $149,500 Active 30 DOM
2. 2026-06-21
   days on market $149,500 Active 29 DOM
3. 2026-06-21
   days on market $149,500 Active 28 DOM
4. 2026-06-18
   days on market $149,500 Active 26 DOM
5. 2026-06-17
   days on market $149,500 Active 25 DOM
6. 2026-06-16
   days on market $149,500 Active 24 DOM
7. 2026-06-16
   price $149,500 Active 23 DOM
8. 2026-06-15
   days on market $154,900 Active 23 DOM
9. 2026-06-13
   days on market $154,900 Active 21 DOM
10. 2026-06-12
    days on market $154,900 Active 20 DOM
11. 2026-06-09
    days on market $154,900 Active 17 DOM
12. 2026-06-08
    days on market $154,900 Active 16 DOM
13. 2026-06-07
    days on market $154,900 Active 15 DOM
14. 2026-06-07
    days on market $154,900 Active 14 DOM
15. 2026-06-04
    days on market $154,900 Active 11 DOM
16. 2026-06-02
    days on market $154,900 Active 10 DOM
17. 2026-06-01
    days on market $154,900 Active 9 DOM
18. 2026-05-31
    days on market $154,900 Active 8 DOM
19. 2026-05-31
    days on market $154,900 Active 7 DOM
20. 2026-05-23
    listed $154,900 Active

    Show marketing remark (916 chars)

    Charming Story-and-a-Half Home Full of Character and Comfort! This inviting home features 3 bedrooms, including 2 conveniently located on the main level and a spacious upper-level retreat perfect for a private primary bedroom, office, or flex space. Beautiful wood floors add warmth and charm throughout the living room and bedrooms, while the bright eat-in kitchen offers a cozy space for everyday meals and gatherings. The ready-to-finish lower-level family room provides extra living and entertaining space, complete with a half bath and excellent storage options. Enjoy peace of mind with newer mechanicals including the furnace, central air, and water heater. Step outside to a fun patio and backyard ideal for relaxing, grilling, or hosting friends and family. Appliances are included, making this home move-in ready. Don’t miss this adorable and well-maintained home — schedule your showing today!

21. 2026-05-23
    listed $154,900 Active 916-char remark

    Show marketing remark (916 chars)

    Charming Story-and-a-Half Home Full of Character and Comfort! This inviting home features 3 bedrooms, including 2 conveniently located on the main level and a spacious upper-level retreat perfect for a private primary bedroom, office, or flex space. Beautiful wood floors add warmth and charm throughout the living room and bedrooms, while the bright eat-in kitchen offers a cozy space for everyday meals and gatherings. The ready-to-finish lower-level family room provides extra living and entertaining space, complete with a half bath and excellent storage options. Enjoy peace of mind with newer mechanicals including the furnace, central air, and water heater. Step outside to a fun patio and backyard ideal for relaxing, grilling, or hosting friends and family. Appliances are included, making this home move-in ready. Don’t miss this adorable and well-maintained home — schedule your showing today!

22. 2018-11-30
    soldstatus $76,000
23. 2018-11-28
    soldstatus $76,000 396-char remark

    Show marketing remark (396 chars)

    Cute Story-and-a-Half Home! Three bedrooms, two on the main level and one spacious bedroom upstairs. Wood floors in the living room and bedrooms, full bath on main level and eat-in kitchen. Finished family room in lower level with half bath and good storage. Brand New Roof! Newer furnace, central air and water heater. Fun patio and backyard! Appliances included! Call today and take a look!

24. 2018-05-09
    listed $76,000 396-char remark

    Show marketing remark (396 chars)

    Cute Story-and-a-Half Home! Three bedrooms, two on the main level and one spacious bedroom upstairs. Wood floors in the living room and bedrooms, full bath on main level and eat-in kitchen. Finished family room in lower level with half bath and good storage. Brand New Roof! Newer furnace, central air and water heater. Fun patio and backyard! Appliances included! Call today and take a look!

ⓘ 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: $1,724 · $144/mo
• Projected year-2 tax: $2,036 · $170/mo
• Expected delta: +$312/yr (+$26/mo · 18.1%)

ⓘ 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 2/10 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: $18,434
• − Mortgage interest: −$8,374
• − Property taxes: −$1,724
• − Insurance: −$748
• − Repairs & maintenance: −$1,475
• − Management: −$1,475
• − Depreciation: −$4,349
• Taxable income: $290
• Est. tax owed @ 24.0%: −$70
• After-tax cash flow: $2,614/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

+103.8% since first listed

5 events — show timeline

• 2026-05-23 Listed $154,900 IAR
• 2026-05-23 Listed $154,900 Greater Mason BOR
• 2018-11-30 Sold (Public Records) $76,000 Public Records
• 2018-11-28 Sold (MLS) $76,000 Greater Mason BOR
• 2018-05-09 Listed $76,000 Greater Mason BOR

Property tax history

+3.1%/yr

Latest (2025): $1,724 · +3.1% YoY. Source: county tax records.