1523 N Monroe Ave · Mason City, IA 50401

$130,000

4 bd · 1.0 ba · 1,718 sqft · SingleFamily public records · 38 Days on market

Built 1911 $76/sqft · at area comps Est $134k · at est.

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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 +28.2/30.0
• DSCR +10.0/10.0
• ARV discount +8.8/15.0
• 1% rule +7.2/10.0
• 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

2-story home situated on 3 lots offering extra outdoor space and flexibility! This 4-bedroom, 1-bathroom home features natural woodwork, refinished hardwood flooring, and a spacious attached 2-stall garage. The current owner has completed several updates including refinishing the main floor hardwood floors, replacing some windows, painting the kitchen cabinets, removing wallpaper, and fresh paint throughout much of the home. Enjoy additional living space in the inviting 4-season room! Call today to schedule a showing!

Key facts

• Natural woodwork
• 4 season room
• 2 story home

Tags

• 2 STORY HOME
• NATURAL WOODWORK
• REFINISHED HARDWOOD FLOORING
• ATTACHED 2 STALL GARAGE
• 4 SEASON ROOM

Property features AI

Exterior

• Parking: Attached concrete garage with 2 spaces
• Utilities: Public water; Public sewer
• Home design: Single family residence; Residential property; 2 stories
• Construction: Stucco construction
• Exterior features: Asphalt roof; Shed(s)

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Flooring: Carpet; Wood
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Eat-in kitchen; Wood-burning fireplace

What this means for you Summary

Snapshot

• This is a 4-bed/1.0-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $411 ($5k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $126k (3.0% below list) — sets the bar for market timing.
• Cap rate 10.1% 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 $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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $36k cash investment doubles in ~9 years — after that, you're playing with house money.

Negotiation context

• It's been on market 38 days — a 3% lower offer ($126k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 4y ago 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.
• Current owner paid $92k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1911 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $126,100 (3.0% below list)

Questions for the listing agent

1. It's been on market 38 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 1911 — 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: 1.22% ✓
• Cap rate: 10.09%
• Cash-on-cash: 13.55%
• DSCR: 1.60
• GRM: 6.9

CMA / ARV

• ARV (median comp): $133,950
• List price: $130,000
• Delta: -2.95%
• 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
1015 N Jefferson Ave	0.40mi	4/1.0	1,608 (-6%)	4mo	$110,000	$68	67
811 9th St NW	0.56mi	4/2.0	1,780 (+4%)	1mo	$250,000	$140	64
215 9th St NW	0.55mi	3/1.0 (-1)	1,704 (-1%)	8mo	$128,000	$75	62
915 N Polk Ave	0.59mi	3/1.0 (-1)	1,724 (+0%)	8mo	$154,900	$90	60
411 14th St NW	0.20mi	3/1.0 (-1)	1,968 (+15%)	4mo	$139,900	$71	58
1011 N Jefferson Ave	0.41mi	3/2.2 (-1)	1,600 (-7%)	2mo	$162,000	$101	58
106 10th St NW	0.49mi	3/1.5 (-1)	1,568 (-9%)	0mo	$164,900	$105	55
217 10th St NW	0.46mi	3/2.0 (-1)	1,828 (+6%)	6mo	$175,000	$96	54
725 N Jefferson Ave	0.59mi	4/2.0	1,860 (+8%)	2mo	$238,000	$128	53
820 N Jefferson Ave	0.53mi	4/2.0	1,913 (+11%)	9mo	$187,000	$98	45
620 N Jackson Ave	0.66mi	4/1.0	1,468 (-15%)	0mo	$190,000	$129	45
813 N Tyler Ave	0.62mi	3/1.8 (-1)	1,566 (-9%)	8mo	$161,600	$103	42

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: 3.6%
• Equity multiple: 1.14×
• Total profit: $5,095
• Equity at exit: $19,383

10-year hold

• IRR: 13.1%
• Equity multiple: 2.05×
• Total profit: $38,085
• 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: 158
• Price-to-rent: 6.9×

Monthly cashflow live

• Estimated rent: $1,580 medium
• Mortgage (P&I): −$682
• Tax from tax record: −$101 /mo · $1,216/yr
• Insurance: −$54
• HOA: −$0
• Vacancy / Maint / Mgmt: −$332
• Net cashflow: $411

Break-even live

Break-even rent $1,060

Max offer price $130,000

Occupancy floor 69%

Sensitivity live

Price	-10% $485	-5% $448	+0% $411	+5% $374	+10% $337
Rent	-10% $286	-5% $349	+0% $411	+5% $473	+10% $536
Rate	-1.0pp $476	-0.5pp $444	base $411	+0.5pp $377	+1.0pp $343

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 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
215 2nd St SW Unit 100-210 Mason City, IA	3.0	2.0	1273	$1,580	$1.24	45d	1	1.22mi

Listing history 21 events

1. 2026-06-21
   days on market $130,000 Active 38 DOM
2. 2026-06-18
   days on market $130,000 Active 36 DOM
3. 2026-06-17
   days on market $130,000 Active 35 DOM
4. 2026-06-16
   days on market $130,000 Active 34 DOM
5. 2026-06-15
   days on market $130,000 Active 33 DOM
6. 2026-06-13
   days on market $130,000 Active 31 DOM
7. 2026-06-12
   days on market $130,000 Active 30 DOM
8. 2026-06-09
   days on market $130,000 Active 27 DOM
9. 2026-06-08
   days on market $130,000 Active 26 DOM
10. 2026-06-07
    days on market $130,000 Active 25 DOM
11. 2026-06-07
    days on market $130,000 Active 24 DOM
12. 2026-06-04
    days on market $130,000 Active 21 DOM
13. 2026-06-02
    days on market $130,000 Active 20 DOM
14. 2026-06-01
    days on market $130,000 Active 19 DOM
15. 2026-05-31
    days on market $130,000 Active 18 DOM
16. 2026-05-31
    days on market $130,000 Active 17 DOM
17. 2026-05-12
    listed $130,000 Active 523-char remark

    Show marketing remark (523 chars)

    2-story home situated on 3 lots offering extra outdoor space and flexibility! This 4-bedroom, 1-bathroom home features natural woodwork, refinished hardwood flooring, and a spacious attached 2-stall garage. The current owner has completed several updates including refinishing the main floor hardwood floors, replacing some windows, painting the kitchen cabinets, removing wallpaper, and fresh paint throughout much of the home. Enjoy additional living space in the inviting 4-season room! Call today to schedule a showing!

18. 2026-05-12
    listed $130,000 Active 523-char remark

    Show marketing remark (523 chars)

    2-story home situated on 3 lots offering extra outdoor space and flexibility! This 4-bedroom, 1-bathroom home features natural woodwork, refinished hardwood flooring, and a spacious attached 2-stall garage. The current owner has completed several updates including refinishing the main floor hardwood floors, replacing some windows, painting the kitchen cabinets, removing wallpaper, and fresh paint throughout much of the home. Enjoy additional living space in the inviting 4-season room! Call today to schedule a showing!

19. 2022-05-31
    soldstatus $92,000
20. 2022-05-27
    soldstatus $92,000

    Show marketing remark (345 chars)

    Large 2 story home full of character!! Located on 3 full lots will give you plenty of room for any activities. Inside you will find wonderful natural woodwork throughout, including original hardwood floors. Generous room sizes, attached 2 stall heated garage, and 4 seasons room are just a few of the amenities you will enjoy. Take a look today.

21. 2022-03-07
    listed $102,900

    Show marketing remark (345 chars)

    Large 2 story home full of character!! Located on 3 full lots will give you plenty of room for any activities. Inside you will find wonderful natural woodwork throughout, including original hardwood floors. Generous room sizes, attached 2 stall heated garage, and 4 seasons room are just a few of the amenities you will enjoy. Take a look today.

ⓘ 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: $1,216 · $101/mo
• Projected year-2 tax: $1,628 · $136/mo
• Expected delta: +$412/yr (+$34/mo · 33.9%)

ⓘ 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: $18,960
• − Mortgage interest: −$7,282
• − Property taxes: −$1,216
• − Insurance: −$650
• − Repairs & maintenance: −$1,517
• − Management: −$1,517
• − Depreciation: −$3,782
• Taxable income: $2,997
• Est. tax owed @ 24.0%: −$719
• After-tax cash flow: $4,212/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

+26.3% since first listed

5 events — show timeline

• 2026-05-12 Listed $130,000 IAR
• 2026-05-12 Listed $130,000 Greater Mason BOR
• 2022-05-31 Sold (Public Records) $92,000 Public Records
• 2022-05-27 Sold (MLS) $92,000 Greater Mason BOR
• 2022-03-07 Listed $102,900 Greater Mason BOR

Property tax history

+1.1%/yr

Latest (2025): $1,216 · +2.9% YoY. Source: county tax records.