108 S Virginia Ave Ave · Mason City, IA 50401

$148,000

3 bd · 1.5 ba · 1,456 sqft · SingleFamily public records · 43 Days on market

Built 1920 $102/sqft · at area comps Est $145k · at est. ↓ 6% since listing

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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 +22.7/30.0
• DSCR +7.3/10.0
• ARV discount +6.5/15.0
• 1% rule +5.4/10.0
• 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

Family owned for 57 years! This classic older 2 story home offers a wonderful opportunity for a buyer to add some TLC & personal touches. Inviting front porch. Beautiful original woodwork. Spacious front living room with built-ins, lots of windows & wood floors under the carpet. Generous dining room that opens to the living room & leads into the kitchen. Small addition added a main floor 3/4 bath & nice drop zone area coming in off the garage. Upper level has 3 bedrooms with wood floors, a vintage 3/4 bath & a bonus addition room that could be used as an office or 4th bedroom. Oversized 2 stall garage. Located just a few blocks from East Park, this solid home

Key facts

• Inviting front porch
• Wood floors
• Original woodwork

Tags

• INVITING FRONT PORCH
• ORIGINAL WOODWORK
• BUILT-INS
• WOOD FLOORS
• MAIN FLOOR BATH
• DROP ZONE AREA

Property features AI

Exterior

• Parking: Detached concrete garage with 2 car spaces
• Utilities: Public water; Public sewer
• Home design: Single-family residence; 2 stories; Residential property
• Construction: Metal siding; Built with crawl space foundation
• Exterior features: Asphalt roof; Lot zoned RG/General Residential

Interior

• Kitchen: Dishwasher; Electric range; Refrigerator
• Flooring: Carpet; Laminate; Wood
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Full basement with crawl space; Dishwasher, Electric range, Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $148k.

Deal economics

• At list price, monthly cash flow is $254 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $148k).
• Recommended offer: $144k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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.
• Market conditions: 158 active listings in the ZIP; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d 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 43 days — a 3% lower offer ($144k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1920 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $143,560 (3.0% below list)

Questions for the listing agent

1. It's been on market 43 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 1920 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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.
5. 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.
6. 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: 1.04% ✓
• Cap rate: 8.35%
• Cash-on-cash: 7.36%
• DSCR: 1.33
• GRM: 8.0

CMA / ARV

• ARV (median comp): $144,863
• List price: $148,000
• Delta: 2.17%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
115 S Hampshire Pl Pl	0.03mi	3/1.8	1,440 (-1%)	3mo	$166,000	$115	94
1029 1st St NE	0.36mi	2/1.2 (-1)	1,420 (-2%)	1mo	$128,000	$90	72
32 S Tennessee Ave	0.31mi	3/1.2	1,308 (-10%)	2mo	$169,000	$129	66
320 1st NE #307 St #307	0.51mi	2/2.0 (-1)	1,418 (-3%)	3mo	$255,000	$180	62
1044 Maple Dr Dr	0.35mi	3/1.0	1,593 (+9%)	7mo	$152,000	$95	60
15 N Ohio Ave	0.53mi	4/1.0 (+1)	1,497 (+3%)	4mo	$210,000	$140	60
438 4th St SE	0.37mi	3/1.5	1,652 (+14%)	3mo	$172,000	$104	58
616 S Louisiana Ave	0.63mi	3/1.0	1,561 (+7%)	2mo	$146,000	$94	54
1148 1st St SE	0.48mi	2/1.8 (-1)	1,614 (+11%)	1mo	$198,000	$123	53
320 1st NE #103 St #103	0.51mi	2/2.0 (-1)	1,331 (-9%)	6mo	$250,000	$188	50
807 10th St NE	0.72mi	3/1.2	1,332 (-8%)	2mo	$135,000	$101	50
706 6th Pl Pl SE	0.34mi	2/1.8 (-1)	1,239 (-15%)	7mo	$140,000	$113	48

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: -5.1%
• Equity multiple: 0.81×
• Total profit: $-7,820
• Equity at exit: $22,067

10-year hold

• IRR: 4.6%
• Equity multiple: 1.34×
• Total profit: $13,953
• Equity at exit: $12,796

Cash invested: $41,440 (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: 8.0×

Monthly cashflow live

• Estimated rent: $1,532 medium
• Mortgage (P&I): −$776
• Tax from tax record: −$119 /mo · $1,426/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $254

Break-even live

Break-even rent $1,211

Max offer price $148,000

Occupancy floor 78%

Sensitivity live

Price	-10% $338	-5% $296	+0% $254	+5% $212	+10% $170
Rent	-10% $133	-5% $194	+0% $254	+5% $315	+10% $375
Rate	-1.0pp $329	-0.5pp $292	base $254	+0.5pp $216	+1.0pp $177

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: $37,000
• Closing costs: $4,440
• 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	0.72mi
12 2nd St NE Unit 6 Mason City, IA	2.0	1.0	1296	$1,600	$1.23	44d	1	0.78mi
215 2nd St SW Unit 100-210 Mason City, IA	3.0	2.0	1273	$1,580	$1.24	44d	1	0.97mi

Listing history 18 events

1. 2026-06-21
   days on market $148,000 Active 43 DOM
2. 2026-06-18
   days on market $148,000 Active 41 DOM
3. 2026-06-17
   days on market $148,000 Active 40 DOM
4. 2026-06-16
   days on market $148,000 Active 39 DOM
5. 2026-06-15
   days on market $148,000 Active 38 DOM
6. 2026-06-13
   days on market $148,000 Active 36 DOM
7. 2026-06-12
   days on market $148,000 Active 35 DOM
8. 2026-06-09
   days on market $148,000 Active 32 DOM
9. 2026-06-08
   days on market $148,000 Active 31 DOM
10. 2026-06-07
    days on market $148,000 Active 30 DOM
11. 2026-06-07
    days on market $148,000 Active 29 DOM
12. 2026-06-04
    days on market $148,000 Active 26 DOM
13. 2026-06-02
    days on market $148,000 Active 25 DOM
14. 2026-06-01
    days on market $148,000 Active 24 DOM
15. 2026-05-31
    price $148,000 Active 23 DOM
16. 2026-05-31
    days on market $158,000 Active 23 DOM
17. 2026-05-31
    days on market $158,000 Active 22 DOM
18. 2026-05-08
    listed $158,000 Active 743-char remark

ⓘ 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: $1,426 · $119/mo
• Projected year-2 tax: $1,875 · $156/mo
• Expected delta: +$449/yr (+$37/mo · 31.5%)

ⓘ 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 ≥101°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: $18,390
• − Mortgage interest: −$8,290
• − Property taxes: −$1,426
• − Insurance: −$740
• − Repairs & maintenance: −$1,471
• − Management: −$1,471
• − Depreciation: −$4,305
• Taxable income: $686
• Est. tax owed @ 24.0%: −$165
• After-tax cash flow: $2,884/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

-6.3% since first listed

2 events — show timeline

• 2026-05-31 Price Changed $148,000 Greater Mason BOR
• 2026-05-08 Listed $158,000 Greater Mason BOR

Property tax history

+0.8%/yr

Latest (2025): $1,426 · -3.8% YoY. Source: county tax records.