912 15th NE · Mason City, IA 50401

$95,000

2 bd · 1.0 ba · 1,016 sqft · SingleFamily public records · 10 Days on market

Built 1940 6,600 sqft lot Est $116k · 18% under

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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 MLS

Who says affordable living can’t come with personality and room to breathe? Tucked beneath mature shade trees, this cheerful home offers a fresh start with comfortable spaces, updated touches, and a surprisingly spacious backyard ready for summer evenings, pets, playtime, or gardening. The light-filled living room welcomes you with a bright, comfortable atmosphere that flows into a functional kitchen featuring ample counter space for everyday meals and morning coffee. Two main-floor bedrooms provide flexibility for guests, a home office, or hobbies, while the full bath keeps everything conveniently within reach. Downstairs, the lower level offers laundry, storage, and extra space for life's necessities. Outside, the long driveway provides off-street parking, and the storage shed is ready for tools, toys, and seasonal gear. Whether you're searching for your first home, a downsizing opportunity, or an investment property, this one delivers value, simplicity, and potential. Come see where your next move begins!

Key facts

• Functional kitchen
• Spacious backyard
• Storage shed

Tags

• SPACIOUS BACKYARD
• FUNCTIONAL KITCHEN
• OFF-STREET PARKING
• STORAGE SHED

Property features AI

Exterior

• Parking: Concrete parking
• Security: Smoke detector(s)
• Utilities: Public water; Public sewer
• Home design: Single-family residence; One story
• Construction: Frame construction; Asphalt roof
• Exterior features: Patio; Shed(s)

Interior

• Kitchen: Gas range; Refrigerator
• Bedrooms: One main-level bedroom
• Flooring: Carpet; Vinyl
• Heating & cooling: Forced air heating (natural gas); Central air conditioning
• Interior features: Gas range and refrigerator included; Full basement with sump pump; Smoke detector(s)

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $95k.

Deal economics

• At list price, monthly cash flow is $549 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $95k).
• Cap rate 13.2% 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.
• 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 $657 of loan paydown is wiped out by about $3k 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 $27k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• Only 10 days on market — expect competitive offers; lowballing is unlikely to land.
• 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.
• Current owner paid $54k; list at $95k implies a 76% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $95,000

Questions for the listing agent

1. Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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.
4. 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.
5. 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: 1.57% ✓
• Cap rate: 13.23%
• Cash-on-cash: 24.78%
• DSCR: 2.10
• GRM: 5.3

CMA / ARV

• ARV (on-the-fly): $115,824
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
921 15th St NE	0.03mi	3/1.0 (+1)	1,056 (+4%)	2mo	$156,000	$148	85
1050 17th St NE	0.31mi	2/1.0	1,012 (-0%)	9mo	$69,750	$69	77
729 17th St NE	0.20mi	3/1.0 (+1)	972 (-4%)	8mo	$112,000	$115	72
1538 N Hampshire Ave	0.22mi	3/1.0 (+1)	972 (-4%)	7mo	$117,000	$120	72
832 9th St NE	0.44mi	2/1.0	962 (-5%)	1mo	$117,500	$122	70
733 17th St	0.19mi	3/1.0 (+1)	1,056 (+4%)	17mo	$120,500	$114	65
311 10th St NE	0.73mi	2/1.0	1,001 (-2%)	8mo	$110,000	$110	57
334 10th St NE	0.68mi	2/1.0	1,035 (+2%)	10mo	$116,500	$113	57
685 14th St NE	0.25mi	3/1.0 (+1)	1,152 (+13%)	11mo	$167,000	$145	52
639 11th St NE	0.46mi	3/1.2 (+1)	1,080 (+6%)	18mo	$100,000	$93	47
1314 N Jersey Ave Ave	0.72mi	3/1.0 (+1)	1,056 (+4%)	12mo	$45,000	$43	44
650 13th St NE	0.33mi	3/1.0 (+1)	864 (-15%)	18mo	$86,400	$100	39

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: 18.2%
• Equity multiple: 1.74×
• Total profit: $19,598
• Equity at exit: $14,165

10-year hold

• IRR: 26.6%
• Equity multiple: 3.34×
• Total profit: $62,138
• Equity at exit: $8,214

Cash invested: $26,600 (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: 5.3×

Monthly cashflow live

• Estimated rent: $1,491 medium
• Mortgage (P&I): −$498
• Tax from tax record: −$90 /mo · $1,086/yr
• Insurance: −$40
• HOA: −$0
• Vacancy / Maint / Mgmt: −$313
• Net cashflow: $549

Break-even live

Break-even rent $795

Max offer price $95,000

Occupancy floor 58%

Sensitivity live

Price	-10% $603	-5% $576	+0% $549	+5% $522	+10% $496
Rent	-10% $432	-5% $490	+0% $549	+5% $608	+10% $667
Rate	-1.0pp $597	-0.5pp $573	base $549	+0.5pp $525	+1.0pp $500

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: $23,750
• Closing costs: $2,850
• Reserves months: —
• Total cash needed: —

Rent comps 2 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	1.24mi
110 N Delaware Ave Unit 211 Mason City, IA	2.0	1.0	919	$1,395	$1.52	44d	1	1.25mi

Listing history 8 events

1. 2026-06-21
   days on market $95,000 Active 10 DOM
2. 2026-06-18
   days on market $95,000 Active 8 DOM
3. 2026-06-17
   days on market $95,000 Active 7 DOM
4. 2026-06-16
   days on market $95,000 Active 6 DOM
5. 2026-06-15
   days on market $95,000 Active 5 DOM
6. 2026-06-13
   days on market $95,000 Active 3 DOM
7. 2026-06-12
   remarks 677-char remark
8. 2026-06-12
   listed $95,000 Active 2 DOM

ⓘ 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: $1,086 · $90/mo
• Projected year-2 tax: $1,289 · $107/mo
• Expected delta: +$203/yr (+$17/mo · 18.7%)

ⓘ 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 ≥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: $17,888
• − Mortgage interest: −$5,321
• − Property taxes: −$1,086
• − Insurance: −$475
• − Repairs & maintenance: −$1,431
• − Management: −$1,431
• − Depreciation: −$2,764
• Taxable income: $5,380
• Est. tax owed @ 24.0%: −$1,291
• After-tax cash flow: $5,301/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

+153.3% since first listed

5 events — show timeline

• 2026-06-10 Listed $95,000 IAR
• 2026-06-10 Listed $95,000 Greater Mason BOR
• 2018-01-11 Sold (Public Records) $54,000 Public Records
• 2013-07-24 Sold (Public Records) $49,500 Public Records
• 2010-01-29 Sold (Public Records) $37,500 Public Records

Property tax history

+5.1%/yr

Latest (2025): $1,086 · +3.0% YoY. Source: county tax records.