117 S Monroe Ave · Mason City, IA 50401

$82,500

3 bd · 1.5 ba · 1,089 sqft · SingleFamily public records · 67 Days on market

Built 1911 5,663 sqft lot Est $122k · 32% 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

Fire Your Landlord Today! Considering this home has three roomy bedrooms, 1 1/2 baths and a big double garage with openers, your monthly mortgage payment would likely be far less that what your monthly rent on a similar home would be. Featuring some newer thermal tilt-in windows, new central air unit, new hot water heater, updated wiring, all appliances included, lovely open staircase, main floor solarium/den with knotty pine and french doors, half bath on the main floor, big double garage with new overhead doors w/ openers and a whole lot more. Seeing is believing. .. .this home is priced well below market and will be sold. .. so don't wait another moment to place a call for a private viewing! The home is being sold in 'AS IS' condition.

Key facts

• Updated wiring
• Knotty pine solarium
• Hot water heater

Tags

• CENTRAL A/C
• HOT WATER HEATER
• UPDATED WIRING
• APPLIANCES INCLUDED
• KNOTTY PINE SOLARIUM
• FRENCH DOORS

Property features AI

Exterior

• Parking: Detached 2-car garage
• Utilities: Public water; Public sewer
• Home design: Two-story single-family home; Residential property
• Construction: Built with fiber cement (HardiPlank type) siding
• Exterior features: Lot approximately 44 x 132 (0.13 acre)

Interior

• Bathrooms: 1 full bathroom; 1 half bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Basement

🏷️ Possibly a rental listed for sale. The $82,500 price doesn't fit this home's estimated sale value (~$121,968) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $82k.

Deal economics

• At list price, monthly cash flow is $632 ($8k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $82k).
• Recommended offer: $78k (6.0% below list) — sets the bar for market timing.
• Cap rate 16.3% 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; 3 comparable units currently listed for rent nearby; rentals lingering (median 44d 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 $570 of loan paydown is wiped out by about $2k 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 $23k cash investment doubles in ~4 years — after that, you're playing with house money.

Negotiation context

• It's been on market 67 days — a 6% lower offer ($78k) is reasonable based on typical stale-listing flexibility.
• 7 sale attempts since 7y 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 $50k; list at $82k implies a 65% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; built in 1911 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: severe flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $77,550 (6.0% below list)

Questions for the listing agent

1. It's been on market 67 days. Have you received any prior offers? Is the seller open to a 6% 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. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
5. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
6. 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.
7. 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.
8. 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: 1.88% ✓
• Cap rate: 16.29%
• Cash-on-cash: 35.69%
• DSCR: 2.59
• GRM: 4.4

CMA / ARV

• ARV (on-the-fly): $121,968
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
117 S Monroe Ave	0.00mi	3/1.5	1,089 (0%)	1mo	$77,000	$71	99
726 1st St SW	0.22mi	2/1.2 (-1)	1,064 (-2%)	0mo	$144,000	$135	80
856 1st St NW	0.43mi	3/1.0	1,054 (-3%)	5mo	$146,000	$139	68
215 S Jackson Ave	0.15mi	2/1.0 (-1)	1,024 (-6%)	9mo	$115,000	$112	68
147 N Crescent Dr Dr	0.41mi	2/1.0 (-1)	1,022 (-6%)	3mo	$112,500	$110	61
615 S Polk PL Pl	0.54mi	2/1.0 (-1)	1,120 (+3%)	4mo	$115,500	$103	60
728 S Harrison Ave	0.53mi	3/1.0	1,032 (-5%)	6mo	$146,000	$141	60
1025 2nd St NW	0.51mi	2/1.8 (-1)	1,188 (+9%)	5mo	$84,000	$71	51
143 SW 11th St St	0.69mi	2/1.0 (-1)	1,128 (+4%)	7mo	$60,000	$53	50
323 6th St NW	0.47mi	3/1.8	1,248 (+15%)	7mo	$145,000	$116	47
227 N Crescent Dr Dr	0.56mi	2/1.8 (-1)	1,200 (+10%)	6mo	$129,000	$108	46
805 S Polk Ave Ave	0.60mi	2/1.0 (-1)	952 (-13%)	8mo	$115,000	$121	37

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: 28.0%
• Equity multiple: 2.16×
• Total profit: $26,892
• Equity at exit: $12,301

10-year hold

• IRR: 35.5%
• Equity multiple: 4.26×
• Total profit: $75,361
• Equity at exit: $7,133

Cash invested: $23,100 (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: 4.4×

Monthly cashflow live

• Estimated rent: $1,548 medium
• Mortgage (P&I): −$433
• Tax from tax record: −$69 /mo · $828/yr
• Insurance: −$34
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $632

Break-even live

Break-even rent $749

Max offer price $82,500

Occupancy floor 54%

Sensitivity live

Price	-10% $678	-5% $655	+0% $632	+5% $608	+10% $585
Rent	-10% $509	-5% $570	+0% $632	+5% $693	+10% $754
Rate	-1.0pp $673	-0.5pp $653	base $632	+0.5pp $610	+1.0pp $588

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: $20,625
• Closing costs: $2,475
• 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	0.15mi
12 2nd St NE Unit 6 Mason City, IA	2.0	1.0	1296	$1,600	$1.23	44d	1	0.46mi
110 N Delaware Ave Unit 211 Mason City, IA	2.0	1.0	919	$1,395	$1.52	44d	1	0.47mi

Listing history 21 events

1. 2026-05-14
   status Pending
2. 2026-03-23
   historical Active Under Contract
3. 2026-03-07
   listed $82,500 Active
4. 2026-02-24
   soldstatus $50,000 Closed 750-char remark

   Show marketing remark (750 chars)

   Fire Your Landlord Today! Considering this home has three roomy bedrooms, 1 1/2 baths and a big double garage with openers, your monthly mortgage payment would likely be far less that what your monthly rent on a similar home would be. Featuring some newer thermal tilt-in windows, new central air unit, new hot water heater, updated wiring, all appliances included, lovely open staircase, main floor solarium/den with knotty pine and french doors, half bath on the main floor, big double garage with new overhead doors w/ openers and a whole lot more. Seeing is believing. .. .this home is priced well below market and will be sold. .. so don't wait another moment to place a call for a private viewing! The home is being sold in 'AS IS' condition.

5. 2026-02-24
   soldstatus $50,000

   Show marketing remark (750 chars)

   Fire Your Landlord Today! Considering this home has three roomy bedrooms, 1 1/2 baths and a big double garage with openers, your monthly mortgage payment would likely be far less that what your monthly rent on a similar home would be. Featuring some newer thermal tilt-in windows, new central air unit, new hot water heater, updated wiring, all appliances included, lovely open staircase, main floor solarium/den with knotty pine and french doors, half bath on the main floor, big double garage with new overhead doors w/ openers and a whole lot more. Seeing is believing. .. .this home is priced well below market and will be sold. .. so don't wait another moment to place a call for a private viewing! The home is being sold in 'AS IS' condition.

6. 2026-02-19
   historical Active Under Contract 750-char remark

   Show marketing remark (750 chars)

   Fire Your Landlord Today! Considering this home has three roomy bedrooms, 1 1/2 baths and a big double garage with openers, your monthly mortgage payment would likely be far less that what your monthly rent on a similar home would be. Featuring some newer thermal tilt-in windows, new central air unit, new hot water heater, updated wiring, all appliances included, lovely open staircase, main floor solarium/den with knotty pine and french doors, half bath on the main floor, big double garage with new overhead doors w/ openers and a whole lot more. Seeing is believing. .. .this home is priced well below market and will be sold. .. so don't wait another moment to place a call for a private viewing! The home is being sold in 'AS IS' condition.

7. 2026-02-05
   status Active 750-char remark

   Show marketing remark (750 chars)

   Fire Your Landlord Today! Considering this home has three roomy bedrooms, 1 1/2 baths and a big double garage with openers, your monthly mortgage payment would likely be far less that what your monthly rent on a similar home would be. Featuring some newer thermal tilt-in windows, new central air unit, new hot water heater, updated wiring, all appliances included, lovely open staircase, main floor solarium/den with knotty pine and french doors, half bath on the main floor, big double garage with new overhead doors w/ openers and a whole lot more. Seeing is believing. .. .this home is priced well below market and will be sold. .. so don't wait another moment to place a call for a private viewing! The home is being sold in 'AS IS' condition.

8. 2026-02-05
   price $79,500 750-char remark

   Show marketing remark (750 chars)

   Fire Your Landlord Today! Considering this home has three roomy bedrooms, 1 1/2 baths and a big double garage with openers, your monthly mortgage payment would likely be far less that what your monthly rent on a similar home would be. Featuring some newer thermal tilt-in windows, new central air unit, new hot water heater, updated wiring, all appliances included, lovely open staircase, main floor solarium/den with knotty pine and french doors, half bath on the main floor, big double garage with new overhead doors w/ openers and a whole lot more. Seeing is believing. .. .this home is priced well below market and will be sold. .. so don't wait another moment to place a call for a private viewing! The home is being sold in 'AS IS' condition.

9. 2025-12-29
   historical Active Under Contract 750-char remark

   Show marketing remark (750 chars)

   Fire Your Landlord Today! Considering this home has three roomy bedrooms, 1 1/2 baths and a big double garage with openers, your monthly mortgage payment would likely be far less that what your monthly rent on a similar home would be. Featuring some newer thermal tilt-in windows, new central air unit, new hot water heater, updated wiring, all appliances included, lovely open staircase, main floor solarium/den with knotty pine and french doors, half bath on the main floor, big double garage with new overhead doors w/ openers and a whole lot more. Seeing is believing. .. .this home is priced well below market and will be sold. .. so don't wait another moment to place a call for a private viewing! The home is being sold in 'AS IS' condition.

10. 2025-12-22
    price $82,000 750-char remark

    Show marketing remark (750 chars)

    Fire Your Landlord Today! Considering this home has three roomy bedrooms, 1 1/2 baths and a big double garage with openers, your monthly mortgage payment would likely be far less that what your monthly rent on a similar home would be. Featuring some newer thermal tilt-in windows, new central air unit, new hot water heater, updated wiring, all appliances included, lovely open staircase, main floor solarium/den with knotty pine and french doors, half bath on the main floor, big double garage with new overhead doors w/ openers and a whole lot more. Seeing is believing. .. .this home is priced well below market and will be sold. .. so don't wait another moment to place a call for a private viewing! The home is being sold in 'AS IS' condition.

11. 2025-12-11
    listed $89,500 Active 750-char remark

    Show marketing remark (750 chars)

    Fire Your Landlord Today! Considering this home has three roomy bedrooms, 1 1/2 baths and a big double garage with openers, your monthly mortgage payment would likely be far less that what your monthly rent on a similar home would be. Featuring some newer thermal tilt-in windows, new central air unit, new hot water heater, updated wiring, all appliances included, lovely open staircase, main floor solarium/den with knotty pine and french doors, half bath on the main floor, big double garage with new overhead doors w/ openers and a whole lot more. Seeing is believing. .. .this home is priced well below market and will be sold. .. so don't wait another moment to place a call for a private viewing! The home is being sold in 'AS IS' condition.

12. 2025-10-13
    soldstatus $70,000
13. 2025-10-10
    soldstatus $70,000 Closed 397-char remark

    Show marketing remark (397 chars)

    Nicely maintained 3-bedroom, 1.5-bath home featuring beautiful flooring and updated kitchen cabinets. The home offers bright, comfortable living spaces and three bedrooms. Outside, you’ll enjoy a fenced-in yard – great for outdoor gatherings – along with a spacious double-stall detached garage for parking and storage. This home is ready for you to move in and make it your own.

14. 2025-09-12
    status Pending 397-char remark

    Show marketing remark (397 chars)

    Nicely maintained 3-bedroom, 1.5-bath home featuring beautiful flooring and updated kitchen cabinets. The home offers bright, comfortable living spaces and three bedrooms. Outside, you’ll enjoy a fenced-in yard – great for outdoor gatherings – along with a spacious double-stall detached garage for parking and storage. This home is ready for you to move in and make it your own.

15. 2025-07-25
    listed $84,800 Active 397-char remark

    Show marketing remark (397 chars)

    Nicely maintained 3-bedroom, 1.5-bath home featuring beautiful flooring and updated kitchen cabinets. The home offers bright, comfortable living spaces and three bedrooms. Outside, you’ll enjoy a fenced-in yard – great for outdoor gatherings – along with a spacious double-stall detached garage for parking and storage. This home is ready for you to move in and make it your own.

16. 2019-10-30
    soldstatus $15,000
17. 2019-10-30
    soldstatus $15,000
18. 2019-06-26
    listed $20,000
19. 2019-06-26
    listed $20,000
20. 2019-03-25
    listed $33,983
21. 2006-06-05
    soldstatus $59,000

ⓘ 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: $828 · $69/mo
• Projected year-2 tax: $1,062 · $88/mo
• Expected delta: +$234/yr (+$19/mo · 28.2%)

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

Climate risk First Street

• 🌊 Flood 8/10 Severe FEMA zone X (unshaded) · 99% 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: $18,579
• − Mortgage interest: −$4,621
• − Property taxes: −$828
• − Insurance: −$1,079
• − Repairs & maintenance: −$1,486
• − Management: −$1,486
• − Depreciation: −$2,400
• Taxable income: $6,678
• Est. tax owed @ 24.0%: −$1,603
• After-tax cash flow: $5,976/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

+39.8% since first listed

21 events — show timeline

• 2026-05-14 Pending — IAR
• 2026-03-23 Contingent — IAR
• 2026-03-07 Listed $82,500 IAR
• 2026-02-24 Sold (Public Records) $50,000 Public Records
• 2026-02-24 Sold (MLS) $50,000 Greater Mason BOR
• 2026-02-19 Contingent — Greater Mason BOR
• 2026-02-05 Relisted — Greater Mason BOR
• 2026-02-05 Price Changed $79,500 Greater Mason BOR
• 2025-12-29 Contingent — Greater Mason BOR
• 2025-12-22 Price Changed $82,000 Greater Mason BOR
• 2025-12-11 Listed $89,500 Greater Mason BOR
• 2025-10-13 Sold (Public Records) $70,000 Public Records
• 2025-10-10 Sold (MLS) $70,000 IAR
• 2025-09-12 Pending — IAR
• 2025-07-25 Listed $84,800 IAR
• 2019-10-30 Sold (MLS) $15,000 Greater Mason BOR
• 2019-10-30 Sold (MLS) $15,000 IAR
• 2019-06-26 Listed $20,000 Greater Mason BOR
• 2019-06-26 Listed $20,000 IAR
• 2019-03-25 Listed $33,983 SWIAR
• 2006-06-05 Sold (Public Records) $59,000 Public Records

Property tax history

-0.4%/yr

Latest (2025): $828 · +3.0% YoY. Source: county tax records.