812 10th St NE · Mason City, IA 50401

$122,000

3 bd · 1.0 ba · 895 sqft · SingleFamily public records · 57 Days on market

Built 1909 6,171 sqft lot $136/sqft · 18% above area Est $100k · 22% over

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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 +26.7/30.0
• DSCR +9.1/10.0
• 1% rule +6.4/10.0
• Schools +4.5/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• ARV discount +0.0/15.0
• Appreciation +0.0/10.0

Listing remarks MLS

STAYCATION AT THE CAMPGROUND, PICNIC AT THE PARK, FISH OR KAYAK THE WINNEBAGO, COOL OFF ON A HOT DAY AT THE POOL, BIKE THE TRAILS - ALL RIGHT UP THE STREET FROM YOU! First home, downsizing, or investment potential - it checks all the boxes. Newer flooring throughout, kitchen backsplash and bathroom. Warm up with the breeze on your face in the front sun porch with your coffee. Enjoy the open convenient flow from the living to the dining area and the natural light that carries you from room to room. Newer appliances in the kitchen assist in preparing daily meals. Two bedrooms are ideally situated just off the bathroom for added convenience. Laundry, utility, and storage offered downstairs. Outside brings the fun: back and side yard provides plenty of space to host lawn games, bbq parties, smore's nights by the bonfire, trampoline fun or put up the pool. Your next move starts here—let’s get you through the door.

Key facts

• 6,171 sq ft lot
• Garage
• Built 1909

Property features AI

Exterior

• Parking: Detached garage with concrete pad and garage door opener (1 car)
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Wood siding; Asphalt roof; Has full basement
• Exterior features: Patio; Shed(s)

Interior

• Kitchen: Gas range; Microwave; Refrigerator
• Bedrooms: Two main-level bedrooms
• Flooring: Ceramic tile; Laminate
• Bathrooms: One main-level bathroom
• Heating & cooling: Forced air heating (natural gas); Central air conditioning; Ceiling fan(s)
• Interior features: Gas range; Microwave; Refrigerator; Full basement; Smoke detectors

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $122k.

Deal economics

• At list price, monthly cash flow is $329 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $122k).
• Recommended offer: $118k (3.0% below list) — sets the bar for market timing.
• Cap rate 9.5% 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; 1 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 $843 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $34k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• It's been on market 57 days — a 3% lower offer ($118k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts 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.

Risks & watch-outs

• Watch-outs: built in 1909 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $118,340 (3.0% below list)

Questions for the listing agent

1. It's been on market 57 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 1909 — 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: 1.14% ✓
• Cap rate: 9.53%
• Cash-on-cash: 11.57%
• DSCR: 1.51
• GRM: 7.3

CMA / ARV

• ARV (median comp): $99,770
• List price: $122,000
• Delta: 22.28%
• Verdict: OVERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
832 9th St NE	0.08mi	2/1.0 (-1)	962 (+8%)	1mo	$117,500	$122	78
650 13th St NE	0.26mi	3/1.0	864 (-4%)	18mo	$86,400	$100	67
808 9th St NE	0.07mi	2/1.0 (-1)	778 (-13%)	5mo	$94,000	$121	66
1008 N Hampshire Ave	0.15mi	2/0.8 (-1)	784 (-12%)	7mo	$128,500	$164	60
1538 N Hampshire Ave	0.46mi	3/1.0	972 (+9%)	7mo	$117,000	$120	58
729 17th St NE	0.53mi	3/1.0	972 (+9%)	8mo	$112,000	$115	54
937 NE 10th St	0.17mi	3/2.0	1,008 (+13%)	21mo	$119,000	$118	50
829 12th St NE	0.11mi	2/1.0 (-1)	766 (-14%)	22mo	$125,000	$163	47
927 10th St NE	0.15mi	2/1.0 (-1)	1,021 (+14%)	23mo	$92,000	$90	46
311 10th St NE	0.54mi	2/1.0 (-1)	1,001 (+12%)	8mo	$110,000	$110	44
1050 17th St NE	0.65mi	2/1.0 (-1)	1,012 (+13%)	9mo	$69,750	$69	35
1042 E State St	0.71mi	2/1.0 (-1)	823 (-8%)	23mo	$105,000	$128	29

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: 0.9%
• Equity multiple: 1.03×
• Total profit: $1,190
• Equity at exit: $18,191

10-year hold

• IRR: 10.5%
• Equity multiple: 1.82×
• Total profit: $27,964
• Equity at exit: $10,548

Cash invested: $34,160 (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: 7.3×

Monthly cashflow live

• Estimated rent: $1,395 medium
• Mortgage (P&I): −$640
• Tax from tax record: −$82 /mo · $984/yr
• Insurance: −$51
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $329

Break-even live

Break-even rent $978

Max offer price $122,000

Occupancy floor 71%

Sensitivity live

Price	-10% $398	-5% $364	+0% $329	+5% $295	+10% $260
Rent	-10% $219	-5% $274	+0% $329	+5% $385	+10% $440
Rate	-1.0pp $391	-0.5pp $360	base $329	+0.5pp $298	+1.0pp $266

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: $30,500
• Closing costs: $3,660
• Reserves months: —
• Total cash needed: —

Rent comps 1 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	0.93mi

Listing history 19 events

1. 2026-06-21
   days on market $122,000 Active 57 DOM
2. 2026-06-21
   days on market $122,000 Active 56 DOM
3. 2026-06-18
   days on market $122,000 Active 54 DOM
4. 2026-06-17
   days on market $122,000 Active 53 DOM
5. 2026-06-16
   days on market $122,000 Active 52 DOM
6. 2026-06-15
   days on market $122,000 Active 51 DOM
7. 2026-06-13
   days on market $122,000 Active 49 DOM
8. 2026-06-12
   days on market $122,000 Active 48 DOM
9. 2026-06-09
   days on market $122,000 Active 45 DOM
10. 2026-06-08
    days on market $122,000 Active 44 DOM
11. 2026-06-07
    days on market $122,000 Active 43 DOM
12. 2026-06-07
    days on market $122,000 Active 42 DOM
13. 2026-06-04
    days on market $122,000 Active 39 DOM
14. 2026-06-02
    days on market $122,000 Active 38 DOM
15. 2026-06-01
    days on market $122,000 Active 37 DOM
16. 2026-05-31
    days on market $122,000 Active 36 DOM
17. 2026-05-31
    days on market $122,000 Active 35 DOM
18. 2026-04-25
    listed $122,000 Active 934-char remark

    Show marketing remark (934 chars)

    STAYCATION AT THE CAMPGROUND, PICNIC AT THE PARK, FISH OR KAYAK THE WINNEBAGO, COOL OFF ON A HOT DAY AT THE POOL, BIKE THE TRAILS - ALL RIGHT UP THE STREET FROM YOU! First home, downsizing, or investment potential - it checks all the boxes. Newer flooring throughout, kitchen backsplash and bathroom. Warm up with the breeze on your face in the front sun porch with your coffee. Enjoy the open convenient flow from the living to the dining area and the natural light that carries you from room to room. Newer appliances in the kitchen assist in preparing daily meals. Two bedrooms are ideally situated just off the bathroom for added convenience. Laundry, utility, and storage offered downstairs. Outside brings the fun: back and side yard provides plenty of space to host lawn games, bbq parties, smore's nights by the bonfire, trampoline fun or put up the pool. Your next move starts here—let’s get you through the door.

19. 2026-04-25
    listed $122,000 Active 934-char remark

    Show marketing remark (934 chars)

    STAYCATION AT THE CAMPGROUND, PICNIC AT THE PARK, FISH OR KAYAK THE WINNEBAGO, COOL OFF ON A HOT DAY AT THE POOL, BIKE THE TRAILS - ALL RIGHT UP THE STREET FROM YOU! First home, downsizing, or investment potential - it checks all the boxes. Newer flooring throughout, kitchen backsplash and bathroom. Warm up with the breeze on your face in the front sun porch with your coffee. Enjoy the open convenient flow from the living to the dining area and the natural light that carries you from room to room. Newer appliances in the kitchen assist in preparing daily meals. Two bedrooms are ideally situated just off the bathroom for added convenience. Laundry, utility, and storage offered downstairs. Outside brings the fun: back and side yard provides plenty of space to host lawn games, bbq parties, smore's nights by the bonfire, trampoline fun or put up the pool. Your next move starts here—let’s get you through the door.

ⓘ 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: $984 · $82/mo
• Projected year-2 tax: $1,450 · $121/mo
• Expected delta: +$466/yr (+$39/mo · 47.3%)

ⓘ 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: $16,740
• − Mortgage interest: −$6,834
• − Property taxes: −$984
• − Insurance: −$610
• − Repairs & maintenance: −$1,339
• − Management: −$1,339
• − Depreciation: −$3,549
• Taxable income: $2,085
• Est. tax owed @ 24.0%: −$500
• After-tax cash flow: $3,453/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

+0.0% since first listed

2 events — show timeline

• 2026-04-25 Listed $122,000 Greater Mason BOR
• 2026-04-25 Listed $122,000 IAR

Property tax history

+0.5%/yr

Latest (2025): $984 · +2.9% YoY. Source: county tax records.