414 4th St SW · Mason City, IA 50401

$130,000

2 bd · 1.0 ba · 780 sqft · Condo public records · 11 Days on market

Built 2014

---

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 +13.6/30.0
• ARV discount +7.5/15.0
• 1% rule +4.7/10.0
• Schools +4.5/10.0
• DSCR +4.1/10.0
• Livability +4.0/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks

1 Bedroom unit in a newly built, well-located condo.

Key facts

• 4,792 sq ft lot
• Built 2014
• Listed 11 days

Property features AI

Finance

• Other: Zoned Z4 - Multi-Use District

Exterior

• Parking: Concrete parking
• Utilities: Public water; Public sewer
• Home design: Residential condo/townhouse; Single-story
• Construction: Aluminum siding; Slab foundation
• Exterior features: Rubber roof

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator; Garbage disposal
• Heating & cooling: Central air
• Interior features: Dishwasher; Electric range; Garbage disposal; Microwave; Refrigerator; Central air

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath condo listed at $130k.

Deal economics

• At list price, monthly cash flow is $7 ($81/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $126k (3.2% below list).
• Recommended offer: $126k (3.2% below list) — sets the bar for 1% rule.
• Cap rate 6.4% vs local median 5.2% in Mason City — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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: 153 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 $899 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

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.

Risks & watch-outs

• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $125,858 (3.2% below list)

Questions for the listing agent

1. What does the HOA fee cover, when was the last increase, and are there any pending special assessments or reserve-fund shortfalls?
2. Any open or pending special assessments — roof, HVAC, plumbing, elevator, façade? What's the per-unit balance and payoff schedule, and is the seller paying it off at close or rolling it to the buyer?
3. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
4. 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?
5. 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.
6. 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.
7. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.97% ✗
• Cap rate: 6.35%
• Cash-on-cash: 0.22%
• DSCR: 1.01
• GRM: 8.6

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: -15.9%
• Equity multiple: 0.44×
• Total profit: $-20,564
• Equity at exit: $19,383

10-year hold

• IRR: -7.4%
• Equity multiple: 0.53×
• Total profit: $-17,056
• Equity at exit: $11,240

Cash invested: $36,400 (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: 153
• Price-to-rent: 8.6×

Monthly cashflow live

• Estimated rent: $1,259 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$132 /mo · $1,580/yr
• Insurance: −$54
• HOA est. from 1 same-building comp: −$120
• Vacancy / Maint / Mgmt: −$264
• Net cashflow: $7

Break-even live

Break-even rent $1,250

Max offer price $130,000

Occupancy floor 94%

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: $32,500
• Closing costs: $3,900
• 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	43d	1	0.54mi
110 N Delaware Ave Unit 208 Mason City, IA	1.0	1.0	552	$1,095	$1.98	43d	1	0.54mi

HOA detail condo

• Monthly dues: $0 · $0/yr
• Assessments: None detected in remarks — confirm with the listing agent.

Listing history 10 events

1. 2026-06-09
   days on market $130,000 Active 11 DOM
2. 2026-06-08
   days on market $130,000 Active 10 DOM
3. 2026-06-07
   days on market $130,000 Active 9 DOM
4. 2026-06-07
   days on market $130,000 Active 8 DOM
5. 2026-06-04
   days on market $130,000 Active 5 DOM
6. 2026-06-02
   days on market $130,000 Active 4 DOM
7. 2026-06-01
   days on market $130,000 Active 3 DOM
8. 2026-05-31
   days on market $130,000 Active 2 DOM
9. 2026-05-28
   listed $130,000 Active
10. 2020-09-01
    soldstatus $775,000

ⓘ 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: $1,580 · $132/mo
• Projected year-2 tax: $1,810 · $151/mo
• Expected delta: +$230/yr (+$19/mo · 14.6%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 72% chance over 30 yrs
• 🔥 Wildfire 3/10 Moderate
• 🌡 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: $15,103
• − Mortgage interest: −$7,282
• − Property taxes: −$1,580
• − Insurance: −$650
• − Repairs & maintenance: −$1,208
• − Management: −$1,208
• − HOA: −$1,440
• − Depreciation: −$3,782
• Taxable loss: −$2,047
• Est. tax savings @ 24.0%: +$491
• After-tax cash flow: $572/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

-83.2% since first listed

2 events — show timeline

• 2026-05-28 Listed $130,000 Greater Mason BOR
• 2020-09-01 Sold (Public Records) $775,000 Public Records

Property tax history

-3.2%/yr

Latest (2025): $1,580 · +3.0% YoY. Source: county tax records.