519 W Chestnut St · Mason City, IL 62664

$30,000

4 bd · 2.0 ba · 1,850 sqft · Other · 146 Days on market

Built 1900 9,375 sqft lot $16/sqft · 69% below area

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Why this score? — see what drove the D 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 +15.0/30.0
• ARV discount +7.5/15.0
• 1% rule +5.0/10.0
• DSCR +5.0/10.0
• Livability +3.2/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.3/10.0
• Appreciation +0.0/10.0

Listing remarks MLS

Investor opportunity! This 4BR, 1BA home in Mason City is being sold AS-IS and is aggressively priced to reflect its potential. The roof is in good condition, and the property offers solid bones and a manageable footprint. Ideal for investors, flippers, or buyers seeking a value-add project. Quiet location with convenient access to town. Cash or conventional financing only; seller will make no repairs. Priced to move — bring your vision!

Key facts

• Solid bones
• Good condition roof
• Convenient access

Tags

• GOOD CONDITION ROOF
• SOLID BONES
• MANAGEABLE FOOTPRINT
• QUIET LOCATION
• CONVENIENT ACCESS

What this means for you Summary

Snapshot

• This is a 4-bed/2.0-bath other listed at $30k.

Deal economics

• At list price, monthly cash flow is $777 ($9k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $30k).
• Recommended offer: $26k (12.0% below list) — sets the bar for market timing.

Location & tenants

• Location reads 65/100 on livability (#620 in IL) — a middle-class / working-renter tenant base. Strengths: crime A+, cost of living A+, housing A+; Watch: employment D, schools F, amenities F.
• Illini Central CUSD 189 (rural): math 11% / reading 18% proficiency, ranked #514 of 620 in IL (top 83%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Market conditions: 12 active listings in the ZIP; 7 units permitted in Mason County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $207 of loan paydown is wiped out by about $900 of value loss. Plan a longer hold.
• Mason County population projected at -30% 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 $8k cash investment doubles in ~1 year — after that, you're playing with house money.

Negotiation context

• It's been on market 146 days — a 12% lower offer ($26k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts; this cycle's ask has dropped $10k (25%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $18k; list at $30k implies a 67% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: property tax is 4.1% of price; built in 1900 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: major flood risk — expect insurance premiums to compound above CPI over the hold.

Recommended offer $26,400 (12.0% below list)

Questions for the listing agent

1. It's been on market 146 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 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Property tax is high relative to price — has the assessment been appealed recently, and will the sale trigger a re-assessment?
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. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
7. The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
8. 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.
9. 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.
10. 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: 4.43% ✓
• Cap rate: 37.38%
• Cash-on-cash: 111.04%
• DSCR: 5.94
• GRM: 1.9

CMA / ARV

• ARV (median comp): $96,284
• List price: $30,000
• Delta: -68.84%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: —
• Equity multiple: 6.32×
• Total profit: $44,702
• Equity at exit: $4,473

10-year hold

• IRR: —
• Equity multiple: 13.25×
• Total profit: $102,913
• Equity at exit: $2,594

Cash invested: $8,400 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 43 Moderately Tenant-Leaning
• State Illinois: 43 Moderately Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Chicago RTLO is among the strongest tenant ordinances in the Midwest; downstate is more landlord-friendly.

Methodology + full state rankings →

ZIP-level market 62664

• Home prices YoY: -13.9%
• Active inventory: 12
• Price-to-rent: 1.9×

Monthly cashflow live

• Estimated rent: $1,329 medium
• Mortgage (P&I): −$157
• Tax from tax record: −$103 /mo · $1,230/yr
• Insurance: −$12
• HOA: −$0
• Vacancy / Maint / Mgmt: −$279
• Net cashflow: $777

Break-even live

Break-even rent $345

Max offer price $30,000

Occupancy floor 36%

Sensitivity live

Price	-10% $794	-5% $786	+0% $777	+5% $769	+10% $760
Rent	-10% $672	-5% $725	+0% $777	+5% $830	+10% $882
Rate	-1.0pp $792	-0.5pp $785	base $777	+0.5pp $769	+1.0pp $762

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: $7,500
• Closing costs: $900
• Reserves months: —
• Total cash needed: —

Listing history 25 events

1. 2026-06-21
   days on market $30,000 Active 146 DOM
2. 2026-06-18
   days on market $30,000 Active 144 DOM
3. 2026-06-17
   days on market $30,000 Active 143 DOM
4. 2026-06-16
   days on market $30,000 Active 142 DOM
5. 2026-06-15
   days on market $30,000 Active 141 DOM
6. 2026-06-13
   days on market $30,000 Active 139 DOM
7. 2026-06-12
   days on market $30,000 Active 138 DOM
8. 2026-06-09
   days on market $30,000 Active 135 DOM
9. 2026-06-08
   days on market $30,000 Active 134 DOM
10. 2026-06-07
    days on market $30,000 Active 133 DOM
11. 2026-06-07
    days on market $30,000 Active 132 DOM
12. 2026-06-04
    days on market $30,000 Active 129 DOM
13. 2026-06-02
    days on market $30,000 Active 128 DOM
14. 2026-06-01
    days on market $30,000 Active 127 DOM
15. 2026-05-31
    days on market $30,000 Active 126 DOM
16. 2026-05-31
    days on market $30,000 Active 125 DOM
17. 2026-05-08
    price $30,000 447-char remark

    Show marketing remark (447 chars)

    Investor opportunity! This 4BR, 1BA home in Mason City is being sold AS-IS and is aggressively priced to reflect its potential. The roof is in good condition, and the property offers solid bones and a manageable footprint. Ideal for investors, flippers, or buyers seeking a value-add project. Quiet location with convenient access to town. Cash or conventional financing only; seller will make no repairs. Priced to move — bring your vision!

18. 2026-03-05
    price $35,000 447-char remark

    Show marketing remark (447 chars)

    Investor opportunity! This 4BR, 1BA home in Mason City is being sold AS-IS and is aggressively priced to reflect its potential. The roof is in good condition, and the property offers solid bones and a manageable footprint. Ideal for investors, flippers, or buyers seeking a value-add project. Quiet location with convenient access to town. Cash or conventional financing only; seller will make no repairs. Priced to move — bring your vision!

19. 2026-01-25
    listed $40,000 Active 447-char remark

    Show marketing remark (447 chars)

    Investor opportunity! This 4BR, 1BA home in Mason City is being sold AS-IS and is aggressively priced to reflect its potential. The roof is in good condition, and the property offers solid bones and a manageable footprint. Ideal for investors, flippers, or buyers seeking a value-add project. Quiet location with convenient access to town. Cash or conventional financing only; seller will make no repairs. Priced to move — bring your vision!

20. 2026-01-01
    historical
21. 2025-12-11
    price
22. 2025-10-22
    price
23. 2025-10-03
    price
24. 2025-10-03
    listed Active
25. 2014-01-31
    soldstatus $18,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IL · Partial reset (capped growth)

• Current annual tax: $1,230 · $103/mo
• Projected year-2 tax: $1,230 · $103/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

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

Climate risk First Street

• 🌊 Flood 6/10 Major FEMA zone X (unshaded) · 69% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥105°F today · 19 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,943
• − Mortgage interest: −$1,680
• − Property taxes: −$1,230
• − Insurance: −$150
• − Repairs & maintenance: −$1,275
• − Management: −$1,275
• − Depreciation: −$873
• Taxable income: $9,459
• Est. tax owed @ 24.0%: −$2,270
• After-tax cash flow: $7,057/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: Illini Central CUSD 189
• NCES district ID: 1700113
• Math proficiency: 11% ▼ -11.00%
• Reading proficiency: 18% ▼ -18.00%
• Median HH income: $46,086
• Composite: 12.95/100
• National rank: #9574
• State rank: #514 of 620 in IL

Livability — Mason City

• Score: 65/100
• State rank: #620
• US rank: #12714

Category grades

Amenities F Commute F Cost of living A+ Crime A+ Employment D Housing A+ Health & safety F User ratings A

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Mason City, IL
• Population (ZIP): 2,848

Population outlook (Mason County) Hauer SSP2

• Today (2025): 12,087 people
• By 2030: 11,283 · -6.7%
• By 2040: 9,766 · -19.2%
• By 2050: 8,421 · -30.3%
• By 2075: 5,785 · -52.1%
• By 2100: 3,888 · -67.8%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (97%)
• Race & ethnicity: White 97% Two or more races 2% Black 1%
• Common ancestry: Lithuanian 3% Romanian 3% Italian 2%
• Languages at home: 98% English-only · French/Haitian/Cajun 1% Spanish 1%

Political lean MEDSL · Mason

• 2024 margin: Solid R (+42.2) · D 27.8% · R 70.1% · Other 2.1%
• 2008→2024 swing: -48.1pp toward R · 2008: 5.9pp · 2024: -42.2pp
• All cycles: 2024: R+42.2 2020: R+39.5 2016: R+31.8 2012: R+6.3 2008: D+5.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -18.38%
• Current HPI: 114.2568
• Rent YoY: —
• Metro: —
• State GDP YoY: ▲ 1.59%
• F500 in state: 60

Industry mix (Fortune 500 HQ in IL)

Industry	F500 HQs	Revenue
▸Insurance	4	$201B
▸Consumer Goods	4	$87B
▸Industrial Machinery	3	$64B
▸Healthcare	2	$55B
▸Retail / Pharmacy	1	$148B
▸Agriculture / Food	1	$86B

Price history

+66.7% since first listed

9 events — show timeline

• 2026-05-08 Price Changed $30,000 RMLSA as Distributed by MLS Grid
• 2026-03-05 Price Changed $35,000 RMLSA as Distributed by MLS Grid
• 2026-01-25 Listed $40,000 RMLSA as Distributed by MLS Grid
• 2026-01-01 Listing Removed — RMLSA as Distributed by MLS Grid
• 2025-12-11 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-10-22 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-10-03 Price Changed — RMLSA as Distributed by MLS Grid
• 2025-10-03 Listed — RMLSA as Distributed by MLS Grid
• 2014-01-31 Sold (Public Records) $18,000 Public Records

Property tax history

-4.8%/yr

Latest (2024): $1,230 · +3.8% YoY. Source: county tax records.