930 16th St. St NE · Mason City, IA 50401

$149,900

2 bd · 1.5 ba · 1,534 sqft · SingleFamily public records · 51 Days on market

Built 1960 6,599 ac lot $98/sqft · at area comps Est $145k · 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 +22.9/30.0
• DSCR +7.3/10.0
• ARV discount +5.9/15.0
• 1% rule +5.7/10.0
• 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 MLS

Family owned since 1975! Brand new breaker box just installed. New roof in 2016, large back yard with deck & patio area, along with a place for a garden. Partially finished basement includes built in bar plus an additional refrigerator, microwave & gas stove. Great for entertaining!

Key facts

• Cozy living room
• Patio deck
• Natural light

Tags

• MOVE IN READY
• COZY LIVING ROOM
• NATURAL LIGHT
• NEWLY FINISHED FAMILY ROOM
• DETACHED GARAGE
• PATIO DECK

Property features AI

Exterior

• Parking: Detached garage (1 car); Shared driveway
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One and one-half stories; Vinyl siding
• Construction: Vinyl siding construction
• Exterior features: Lot approximately 50 x 132 (6,599 sq ft)

Interior

• Flooring: Carpet; Laminate
• Bathrooms: 1 full bathroom
• Heating & cooling: Central air conditioning; Forced air heating
• Interior features: Basement present; Carpet and laminate flooring

What this means for you Summary

Snapshot

• This is a 2-bed/1.5-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $263 ($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: $145k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% vs local median 5.2% 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: 153 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 $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 51 days — a 3% lower offer ($145k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 5y ago; this cycle's ask has dropped $8k (5%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $105k; 43% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Recommended offer $145,403 (3.0% below list)

Questions for the listing agent

1. It's been on market 51 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 1960 — 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: 1.07% ✓
• Cap rate: 8.40%
• Cash-on-cash: 7.51%
• DSCR: 1.33
• GRM: 7.8

CMA / ARV

• ARV (median comp): $144,882
• List price: $149,900
• Delta: 3.46%
• 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
905 12th St NE	0.40mi	2/1.0	1,576 (+3%)	2mo	$142,000	$90	73
1225 N Hampshire Pl Pl	0.36mi	3/1.8 (+1)	1,511 (-2%)	3mo	$160,000	$106	73
1131 15th St NE	0.24mi	3/1.8 (+1)	1,603 (+4%)	4mo	$254,000	$158	72
934 11th St NE	0.43mi	3/1.8 (+1)	1,564 (+2%)	0mo	$220,000	$141	70
934 11th St NE	0.43mi	3/2.0 (+1)	1,564 (+2%)	0mo	$220,000	$141	69
1426 N Rhode Island Is	0.21mi	3/1.0 (+1)	1,409 (-8%)	2mo	$153,000	$109	68
5 Highland Park Ct Ct	0.28mi	2/1.8	1,388 (-10%)	8mo	$155,000	$112	64
1306 N Rhode Island Is	0.31mi	3/1.5 (+1)	1,393 (-9%)	5mo	$156,000	$112	61
663 10th St NE	0.60mi	2/1.0	1,402 (-9%)	8mo	$170,000	$121	49
807 10th St NE	0.54mi	3/1.2 (+1)	1,332 (-13%)	2mo	$135,000	$101	45
726 11th St NE	0.48mi	3/2.0 (+1)	1,336 (-13%)	6mo	$82,500	$62	44
1015 10th St NE	0.53mi	3/1.2 (+1)	1,314 (-14%)	6mo	$144,000	$110	41

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: -4.8%
• Equity multiple: 0.82×
• Total profit: $-7,551
• Equity at exit: $22,351

10-year hold

• IRR: 4.9%
• Equity multiple: 1.36×
• Total profit: $14,988
• Equity at exit: $12,961

Cash invested: $41,972 (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: 7.8×

Monthly cashflow live

• Estimated rent: $1,600 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$153 /mo · $1,832/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$336
• Net cashflow: $263

Break-even live

Break-even rent $1,267

Max offer price $149,900

Occupancy floor 79%

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12 2nd St NE Unit 6 Mason City, IA	2.0	1.0	1296	$1,600	$1.23	44d	1	1.33mi

Listing history 20 events

1. 2026-06-18
   days on market $149,900 Active 51 DOM
2. 2026-06-17
   days on market $149,900 Active 50 DOM
3. 2026-06-16
   days on market $149,900 Active 49 DOM
4. 2026-06-15
   days on market $149,900 Active 48 DOM
5. 2026-06-13
   days on market $149,900 Active 46 DOM
6. 2026-06-12
   pricedays on market $149,900 Active 45 DOM
7. 2026-06-09
   days on market $153,000 Active 42 DOM
8. 2026-06-08
   days on market $153,000 Active 41 DOM
9. 2026-06-07
   days on market $153,000 Active 40 DOM
10. 2026-06-07
    days on market $153,000 Active 39 DOM
11. 2026-06-04
    days on market $153,000 Active 36 DOM
12. 2026-06-02
    days on market $153,000 Active 35 DOM
13. 2026-06-01
    days on market $153,000 Active 34 DOM
14. 2026-05-31
    days on market $153,000 Active 33 DOM
15. 2026-05-31
    days on market $153,000 Active 32 DOM
16. 2026-04-28
    listed $158,000 Active 483-char remark
17. 2021-10-15
    soldstatus $105,000

    Show marketing remark (295 chars)

    Family owned since 1975! Brand new breaker box just installed. New roof in 2016, large back yard with deck & patio area, along with a place for a garden. Partially finished basement includes built in bar plus an additional refrigerator, microwave & gas stove. Great for entertaining!

18. 2021-10-11
    soldstatus $105,000
19. 2021-08-06
    listed $111,900

    Show marketing remark (295 chars)

    Family owned since 1975! Brand new breaker box just installed. New roof in 2016, large back yard with deck & patio area, along with a place for a garden. Partially finished basement includes built in bar plus an additional refrigerator, microwave & gas stove. Great for entertaining!

20. 2021-04-27
    listed $114,900

ⓘ 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: $1,832 · $153/mo
• Projected year-2 tax: $2,093 · $174/mo
• Expected delta: +$261/yr (+$22/mo · 14.2%)

ⓘ 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 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: $19,200
• − Mortgage interest: −$8,397
• − Property taxes: −$1,832
• − Insurance: −$750
• − Repairs & maintenance: −$1,536
• − Management: −$1,536
• − Depreciation: −$4,361
• Taxable income: $789
• Est. tax owed @ 24.0%: −$189
• After-tax cash flow: $2,964/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

+30.5% since first listed

7 events — show timeline

• 2026-06-11 Price Changed $149,900 IAR
• 2026-05-29 Price Changed $153,000 IAR
• 2026-04-28 Listed $158,000 IAR
• 2021-10-15 Sold (MLS) $105,000 Greater Mason BOR
• 2021-10-11 Sold (Public Records) $105,000 Public Records
• 2021-08-06 Listed $111,900 Greater Mason BOR
• 2021-04-27 Listed $114,900 Greater Mason BOR

Property tax history

+3.1%/yr

Latest (2025): $1,832 · +26.7% YoY. Source: county tax records.