1021 N Tyler Ave · Mason City, IA 50401

$57,500

2 bd · 1.5 ba · 800 sqft · SingleFamily public records · 31 Days on market

Built 1929 6,200 sqft lot Est $108k · 47% under ↓ 11% 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
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• 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

Offering a Diamond in the Rough that's waiting for your improvements! Much bigger than it looks 2 bedroom located on the west side of town. Huge kitchen/dining area, oak floors under the carpets, high-efficiency furnace, poured concrete basement, alley access, and more. There's no question this home has good bones and definitely priced to sell, so don't wait another moment. .. .. make the call Today!

Key facts

• Alley access
• Oak floors
• 6,200 sq ft lot

Tags

• HUGE KITCHEN DINING AREA
• OAK FLOORS
• HIGH EFFICIENCY FURNACE
• POURED CONCRETE BASEMENT
• ALLEY ACCESS

Property features AI

Exterior

• Parking: Detached garage; Concrete and gravel parking surfaces; 1-car garage
• Utilities: Z2 - Sub-Urban zoning
• Home design: Single-family residence; One story; Residential property
• Construction: Frame construction; Wood siding
• Exterior features: Patio

Interior

• Kitchen: Gas range
• Bedrooms: 2 main-level bedrooms
• Flooring: Carpet; Vinyl
• Bathrooms: 1 main-level bathroom
• Heating & cooling: Forced air heating; Natural gas
• Interior features: Eat-in kitchen; Full basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $58k.

Deal economics

• At list price, monthly cash flow is $618 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $58k).
• Recommended offer: $56k (3.0% below list) — sets the bar for market timing.
• Cap rate 19.2% 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: Hoover Elementary School (math 47% / reading 47%, grade D-, #530 of 616 statewide, top 88%, 375 students, 59% 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; 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 $398 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 $16k cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 31 days — a 3% lower offer ($56k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $55,775 (3.0% below list)

Questions for the listing agent

1. It's been on market 31 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 1929 — 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: 2.20% ✓
• Cap rate: 19.19%
• Cash-on-cash: 46.06%
• DSCR: 3.05
• GRM: 3.8

CMA / ARV

• ARV (on-the-fly): $108,000
• Comps found: 6

Show comp detail 6 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1021 N Polk Ave	0.06mi	2/1.0	864 (+8%)	7mo	$60,000	$69	76
929 N Van Buren Ave	0.14mi	2/1.0	816 (+2%)	16mo	$142,000	$174	75
711 N Van Buren Ave	0.27mi	3/1.2 (+1)	896 (+12%)	1mo	$126,000	$141	61
809 N Jackson Ave	0.26mi	2/1.0	704 (-12%)	8mo	$95,000	$135	59
311 14th St NW	0.44mi	3/2.0 (+1)	869 (+9%)	11mo	$50,000	$58	49
408 N Jackson Ave	0.47mi	1/1.0 (-1)	768 (-4%)	19mo	$85,000	$111	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: 43.3%
• Equity multiple: 2.87×
• Total profit: $30,047
• Equity at exit: $8,573

10-year hold

• IRR: 49.3%
• Equity multiple: 5.77×
• Total profit: $76,874
• Equity at exit: $4,972

Cash invested: $16,100 (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: 3.8×

Monthly cashflow live

• Estimated rent: $1,262 medium
• Mortgage (P&I): −$302
• Tax from tax record: −$54 /mo · $646/yr
• Insurance: −$24
• HOA: −$0
• Vacancy / Maint / Mgmt: −$265
• Net cashflow: $618

Break-even live

Break-even rent $480

Max offer price $57,500

Occupancy floor 46%

Sensitivity live

Price	-10% $650	-5% $634	+0% $618	+5% $602	+10% $585
Rent	-10% $518	-5% $568	+0% $618	+5% $668	+10% $718
Rate	-1.0pp $647	-0.5pp $633	base $618	+0.5pp $603	+1.0pp $588

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: $14,375
• Closing costs: $1,725
• 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	45d	1	0.99mi
110 N Delaware Ave Unit 208 Mason City, IA	1.0	1.0	552	$1,095	$1.98	45d	1	0.99mi

Listing history 18 events

1. 2026-06-21
   days on market $57,500 Active 31 DOM
2. 2026-06-21
   days on market $57,500 Active 30 DOM
3. 2026-06-18
   days on market $57,500 Active 28 DOM
4. 2026-06-17
   days on market $57,500 Active 27 DOM
5. 2026-06-16
   days on market $57,500 Active 26 DOM
6. 2026-06-15
   days on market $57,500 Active 25 DOM
7. 2026-06-13
   pricedays on market $57,500 Active 23 DOM
8. 2026-06-12
   days on market $64,500 Active 22 DOM
9. 2026-06-09
   days on market $64,500 Active 19 DOM
10. 2026-06-08
    days on market $64,500 Active 18 DOM
11. 2026-06-07
    days on market $64,500 Active 17 DOM
12. 2026-06-07
    days on market $64,500 Active 16 DOM
13. 2026-06-04
    days on market $64,500 Active 13 DOM
14. 2026-06-02
    days on market $64,500 Active 12 DOM
15. 2026-06-01
    days on market $64,500 Active 11 DOM
16. 2026-05-31
    days on market $64,500 Active 10 DOM
17. 2026-05-31
    days on market $64,500 Active 9 DOM
18. 2026-05-20
    listed $64,500 Active

ⓘ 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: $646 · $54/mo
• Projected year-2 tax: $774 · $65/mo
• Expected delta: +$128/yr (+$11/mo · 19.9%)

ⓘ 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 ≥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: $15,148
• − Mortgage interest: −$3,221
• − Property taxes: −$646
• − Insurance: −$288
• − Repairs & maintenance: −$1,212
• − Management: −$1,212
• − Depreciation: −$1,673
• Taxable income: $6,897
• Est. tax owed @ 24.0%: −$1,655
• After-tax cash flow: $5,760/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

-10.9% since first listed

2 events — show timeline

• 2026-06-12 Price Changed $57,500 Greater Mason BOR
• 2026-05-20 Listed $64,500 Greater Mason BOR

Property tax history

-0.6%/yr

Latest (2025): $646 · +2.9% YoY. Source: county tax records.