1424 S Hampshire Ave · Mason City, IA 50401

$139,500

2 bd · 2.5 ba · 1,052 sqft · SingleFamily public records · 241 Days on market

Built 1936 0.34 ac lot $133/sqft · 6% above area Est $131k · 6% 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 +23.2/30.0
• DSCR +7.4/10.0
• 1% rule +5.9/10.0
• ARV discount +4.6/15.0
• 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

This freshly painted 2-bedroom, 1-bath house is full of potential and ready for you to make it your own. Freshly painted—just waiting for your finishing touches. It has new roof new air conditioner furnace water heater and sump pump all done in 2024 & 2025 plus updated windows by Anderson Enjoy the large yard, perfect for gatherings around the fire pit, gardening, or simply relaxing under the stars. A detached garage with an attached workshop offers the ideal setup for hobbies, storage, or projects of all kinds. Located in a friendly neighborhood close to local schools and parks this home blends comfort and convenience in one inviting package. Don’t miss this opportunity to create your dream home in a wonderful community. Schedule your showing today!

Key facts

• Close to parks
• Attached workshop
• Large yard

Tags

• LARGE YARD
• DETACHED GARAGE
• ATTACHED WORKSHOP
• CLOSE TO LOCAL SCHOOLS
• CLOSE TO PARKS

What this means for you Summary

Snapshot

• This is a 2-bed/2.5-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $252 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $123k (12.0% below list) — sets the bar for market timing.
• Cap rate 8.5% 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; 3 comparable units currently listed for rent nearby; rentals lingering (median 45d on market — plan ~5-8 weeks vacancy on turnover, expect pricing pressure); 100% of comp listings sitting > 30 days — soft ceiling on asking rent; 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 $964 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 241 days — a 12% lower offer ($123k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y 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 $98k; 42% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1936 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $122,760 (12.0% below list)

Questions for the listing agent

1. It's been on market 241 days. Have you received any prior offers? Is the seller open to a 12% concession, seller financing, or rate buy-down credit?
2. Built in 1936 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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 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: 1.09% ✓
• Cap rate: 8.46%
• Cash-on-cash: 7.75%
• DSCR: 1.34
• GRM: 7.6

CMA / ARV

• ARV (median comp): $131,018
• List price: $139,500
• Delta: 6.47%
• 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
850 15th St SE	0.22mi	2/1.8	1,020 (-3%)	2mo	$159,500	$156	80
512 17th St SE	0.27mi	2/1.0	956 (-9%)	2mo	$133,000	$139	64
1203 S Vermont Ave Ave	0.37mi	2/1.0	945 (-10%)	1mo	$105,500	$112	59
110 12th St SE	0.59mi	2/1.0	1,000 (-5%)	0mo	$42,500	$43	58
1018 Crestmore Way Way	0.52mi	3/1.0 (+1)	1,008 (-4%)	10mo	$135,500	$134	49
910 13th St SE	0.28mi	3/1.5 (+1)	912 (-13%)	8mo	$165,000	$181	49
217 12th St SE	0.50mi	3/2.5 (+1)	1,146 (+9%)	10mo	$132,000	$115	48
234 15th St SE	0.43mi	2/1.0	936 (-11%)	11mo	$125,000	$134	46
804 SE 5th St	0.70mi	2/1.0	1,128 (+7%)	6mo	$130,127	$115	45
907 7th St SE	0.54mi	3/1.8 (+1)	1,184 (+12%)	7mo	$157,000	$133	40
543 9th St SE	0.39mi	3/1.0 (+1)	907 (-14%)	12mo	$130,000	$143	38
424 S Carolina Ave Ave	0.70mi	3/1.5 (+1)	1,176 (+12%)	10mo	$224,000	$190	31

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: -4.5%
• Equity multiple: 0.83×
• Total profit: $-6,532
• Equity at exit: $20,800

10-year hold

• IRR: 5.2%
• Equity multiple: 1.39×
• Total profit: $15,047
• Equity at exit: $12,061

Cash invested: $39,060 (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: 7.6×

Monthly cashflow live

• Estimated rent: $1,521 medium
• Mortgage (P&I): −$732
• Tax from tax record: −$160 /mo · $1,920/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$319
• Net cashflow: $252

Break-even live

Break-even rent $1,202

Max offer price $139,500

Occupancy floor 78%

Sensitivity live

Price	-10% $331	-5% $292	+0% $252	+5% $213	+10% $173
Rent	-10% $132	-5% $192	+0% $252	+5% $312	+10% $372
Rate	-1.0pp $322	-0.5pp $288	base $252	+0.5pp $216	+1.0pp $179

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: $34,875
• Closing costs: $4,185
• Reserves months: —
• Total cash needed: —

Rent comps 3 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	44d	1	1.22mi
110 N Delaware Ave Unit 211 Mason City, IA	2.0	1.0	919	$1,395	$1.52	44d	1	1.25mi
12 2nd St NE Unit 6 Mason City, IA	2.0	1.0	1296	$1,600	$1.23	44d	1	1.32mi

Listing history 28 events

1. 2026-06-21
   days on market $139,500 Active 241 DOM
2. 2026-06-18
   days on market $139,500 Active 239 DOM
3. 2026-06-17
   days on market $139,500 Active 238 DOM
4. 2026-06-16
   days on market $139,500 Active 237 DOM
5. 2026-06-15
   days on market $139,500 Active 236 DOM
6. 2026-06-13
   days on market $139,500 Active 234 DOM
7. 2026-06-12
   days on market $139,500 Active 233 DOM
8. 2026-06-09
   days on market $139,500 Active 230 DOM
9. 2026-06-08
   days on market $139,500 Active 229 DOM
10. 2026-06-07
    days on market $139,500 Active 228 DOM
11. 2026-06-07
    days on market $139,500 Active 227 DOM
12. 2026-06-04
    days on market $139,500 Active 224 DOM
13. 2026-06-02
    days on market $139,500 Active 223 DOM
14. 2026-06-01
    days on market $139,500 Active 222 DOM
15. 2026-05-31
    days on market $139,500 Active 221 DOM
16. 2026-05-31
    days on market $139,500 Active 220 DOM
17. 2026-04-13
    price $139,500 780-char remark

    Show marketing remark (780 chars)

    This freshly painted 2-bedroom, 1-bath house is full of potential and ready for you to make it your own. Freshly painted—just waiting for your finishing touches. It has new roof new air conditioner furnace water heater and sump pump all done in 2024 & 2025 plus updated windows by Anderson Enjoy the large yard, perfect for gatherings around the fire pit, gardening, or simply relaxing under the stars. A detached garage with an attached workshop offers the ideal setup for hobbies, storage, or projects of all kinds. Located in a friendly neighborhood close to local schools and parks this home blends comfort and convenience in one inviting package. Don’t miss this opportunity to create your dream home in a wonderful community. Schedule your showing today!

18. 2025-10-14
    listed $146,500 Active 780-char remark

    Show marketing remark (780 chars)

    This freshly painted 2-bedroom, 1-bath house is full of potential and ready for you to make it your own. Freshly painted—just waiting for your finishing touches. It has new roof new air conditioner furnace water heater and sump pump all done in 2024 & 2025 plus updated windows by Anderson Enjoy the large yard, perfect for gatherings around the fire pit, gardening, or simply relaxing under the stars. A detached garage with an attached workshop offers the ideal setup for hobbies, storage, or projects of all kinds. Located in a friendly neighborhood close to local schools and parks this home blends comfort and convenience in one inviting package. Don’t miss this opportunity to create your dream home in a wonderful community. Schedule your showing today!

19. 2021-10-25
    soldstatus $98,500
20. 2021-10-22
    soldstatus $98,500 565-char remark

    Show marketing remark (565 chars)

    Very cute and spacious 2 bedroom 1 story home. Very open and spacious layout. Sunken family room, living room/dining room with sliders to Huge rear deck, overlooking large yard with plenty of room. Kitchen with eat-at Breakfast Bar. All new Bathroom rebuilt down to the studs. Recently refurbished throughout. All new flooring throughout, New Bathroom, New lighting fixtures, New plumbing lines throughout. 2 stall garage with attached workshop/possible 3rd stall. New exterior siding on garage. Metal Roof, and metal soffits on house. Check it out! Move in Ready!

21. 2021-10-22
    soldstatus $98,500

    Show marketing remark (565 chars)

    Very cute and spacious 2 bedroom 1 story home. Very open and spacious layout. Sunken family room, living room/dining room with sliders to Huge rear deck, overlooking large yard with plenty of room. Kitchen with eat-at Breakfast Bar. All new Bathroom rebuilt down to the studs. Recently refurbished throughout. All new flooring throughout, New Bathroom, New lighting fixtures, New plumbing lines throughout. 2 stall garage with attached workshop/possible 3rd stall. New exterior siding on garage. Metal Roof, and metal soffits on house. Check it out! Move in Ready!

22. 2021-09-17
    listed $98,500 565-char remark

    Show marketing remark (565 chars)

    Very cute and spacious 2 bedroom 1 story home. Very open and spacious layout. Sunken family room, living room/dining room with sliders to Huge rear deck, overlooking large yard with plenty of room. Kitchen with eat-at Breakfast Bar. All new Bathroom rebuilt down to the studs. Recently refurbished throughout. All new flooring throughout, New Bathroom, New lighting fixtures, New plumbing lines throughout. 2 stall garage with attached workshop/possible 3rd stall. New exterior siding on garage. Metal Roof, and metal soffits on house. Check it out! Move in Ready!

23. 2021-09-17
    listed $98,500

    Show marketing remark (565 chars)

    Very cute and spacious 2 bedroom 1 story home. Very open and spacious layout. Sunken family room, living room/dining room with sliders to Huge rear deck, overlooking large yard with plenty of room. Kitchen with eat-at Breakfast Bar. All new Bathroom rebuilt down to the studs. Recently refurbished throughout. All new flooring throughout, New Bathroom, New lighting fixtures, New plumbing lines throughout. 2 stall garage with attached workshop/possible 3rd stall. New exterior siding on garage. Metal Roof, and metal soffits on house. Check it out! Move in Ready!

24. 2016-05-31
    soldstatus $63,000
25. 2016-05-31
    soldstatus $63,000
26. 2016-05-31
    soldstatus $63,000
27. 2016-03-14
    listed $63,800
28. 2016-03-14
    listed $63,800

ⓘ 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: $1,920 · $160/mo
• Projected year-2 tax: $2,055 · $171/mo
• Expected delta: +$135/yr (+$11/mo · 7.0%)

ⓘ 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 ≥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: $18,255
• − Mortgage interest: −$7,814
• − Property taxes: −$1,920
• − Insurance: −$698
• − Repairs & maintenance: −$1,460
• − Management: −$1,460
• − Depreciation: −$4,058
• Taxable income: $845
• Est. tax owed @ 24.0%: −$203
• After-tax cash flow: $2,823/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

+118.7% since first listed

12 events — show timeline

• 2026-04-13 Price Changed $139,500 Greater Mason BOR
• 2025-10-14 Listed $146,500 Greater Mason BOR
• 2021-10-25 Sold (Public Records) $98,500 Public Records
• 2021-10-22 Sold (MLS) $98,500 IAR
• 2021-10-22 Sold (MLS) $98,500 Greater Mason BOR
• 2021-09-17 Listed $98,500 IAR
• 2021-09-17 Listed $98,500 Greater Mason BOR
• 2016-05-31 Sold (Public Records) $63,000 Public Records
• 2016-05-31 Sold (MLS) $63,000 Greater Mason BOR
• 2016-05-31 Sold (MLS) $63,000 IAR
• 2016-03-14 Listed $63,800 Greater Mason BOR
• 2016-03-14 Listed $63,800 IAR

Property tax history

+2.4%/yr

Latest (2025): $1,920 · +2.9% YoY. Source: county tax records.