107 S Rhode Island Is · Mason City, IA 50401

$142,500

3 bd · 1.0 ba · 910 sqft · SingleFamily public records · 58 Days on market

Built 1928 6,500 sqft lot $157/sqft · 5% above area Est $136k · 5% 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 +20.5/30.0
• DSCR +6.5/10.0
• ARV discount +5.2/15.0
• 1% rule +4.8/10.0
• 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

Fresh style meets everyday comfort in this charming home tucked into a quiet neighborhood you’ll love coming home to. The inviting front enclosed porch offers a perfect spot to start your morning or unwind at the end of the day. Inside, gleaming hardwood floors flow through a bright, open living and dining area, filled with natural light and timeless character. The updated kitchen features crisp cabinetry, modern backsplash, and stainless steel appliances, offering both function and a clean, timeless look. Three comfortable bedrooms offer cozy retreats, while the full bath is clean and functional. A second enclosed porch at the back creates flexible space for storage, hobbies, or a mudroom drop zone. Outside, enjoy a fully fenced yard ideal for pets, play, or entertaining, plus a two-stall detached garage with convenient alley access. This is easy living with thoughtful updates—schedule your showing and fall in love today!

Key facts

• Front enclosed porch
• Updated kitchen
• Fully fenced yard

Tags

• FRONT ENCLOSED PORCH
• HARDWOOD FLOORS
• UPDATED KITCHEN
• STAINLESS STEEL APPLIANCES
• FULLY FENCED YARD
• TWO STALL DETACHED GARAGE

What this means for you Summary

Snapshot

• This is a 3-bed/1.0-bath single-family listed at $142k.

Deal economics

• At list price, monthly cash flow is $187 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $140k (2.1% below list).
• Recommended offer: $138k (3.0% below list) — sets the bar for market timing.
• Cap rate 7.9% 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; 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 $985 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 58 days — a 3% lower offer ($138k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 10y ago; this cycle's ask has dropped $12k (8%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $120k; 18% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1928 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $138,225 (3.0% below list)

Questions for the listing agent

1. It's been on market 58 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 1928 — 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: 0.98% ✗
• Cap rate: 7.87%
• Cash-on-cash: 5.63%
• DSCR: 1.25
• GRM: 8.5

CMA / ARV

• ARV (median comp): $135,501
• List price: $142,500
• Delta: 5.17%
• 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
902 1st St SE	0.03mi	2/1.0 (-1)	1,040 (+14%)	10mo	$100,250	$96	62
543 9th St SE	0.68mi	3/1.0	907 (-0%)	12mo	$130,000	$143	58
910 13th St SE	0.75mi	3/1.5	912 (+0%)	8mo	$165,000	$181	56
1203 S Vermont Ave Ave	0.71mi	2/1.0 (-1)	945 (+4%)	1mo	$105,500	$112	54
832 9th St NE	0.70mi	2/1.0 (-1)	962 (+6%)	1mo	$117,500	$122	52
1018 Crestmore Way Way	0.59mi	3/1.0	1,008 (+11%)	10mo	$135,500	$134	46
948 8th St SE	0.46mi	2/1.0 (-1)	987 (+8%)	16mo	$80,000	$81	46
825 7th St SE	0.42mi	2/1.0 (-1)	806 (-11%)	13mo	$115,000	$143	46
812 S Massachusetts Ave	0.72mi	2/1.8 (-1)	886 (-3%)	16mo	$144,500	$163	41
808 9th St NE	0.70mi	2/1.0 (-1)	778 (-14%)	5mo	$94,000	$121	34
937 NE 10th St	0.74mi	3/2.0	1,008 (+11%)	21mo	$119,000	$118	26
927 10th St NE	0.73mi	2/1.0 (-1)	1,021 (+12%)	23mo	$92,000	$90	21

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: -7.6%
• Equity multiple: 0.72×
• Total profit: $-11,189
• Equity at exit: $21,247

10-year hold

• IRR: 1.9%
• Equity multiple: 1.14×
• Total profit: $5,522
• Equity at exit: $12,321

Cash invested: $39,900 (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: 8.5×

Monthly cashflow live

• Estimated rent: $1,395 medium
• Mortgage (P&I): −$747
• Tax from tax record: −$108 /mo · $1,298/yr
• Insurance: −$59
• HOA: −$0
• Vacancy / Maint / Mgmt: −$293
• Net cashflow: $187

Break-even live

Break-even rent $1,158

Max offer price $142,500

Occupancy floor 82%

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: $35,625
• Closing costs: $4,275
• Reserves months: —
• Total cash needed: —

Rent comps 1 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
110 N Delaware Ave Unit 211 Mason City, IA	2.0	1.0	919	$1,395	$1.52	43d	1	0.87mi

Listing history 28 events

1. 2026-06-18
   days on market $142,500 Active 58 DOM
2. 2026-06-17
   days on market $142,500 Active 57 DOM
3. 2026-06-16
   days on market $142,500 Active 56 DOM
4. 2026-06-15
   days on market $142,500 Active 55 DOM
5. 2026-06-13
   days on market $142,500 Active 53 DOM
6. 2026-06-12
   days on market $142,500 Active 52 DOM
7. 2026-06-09
   days on market $142,500 Active 49 DOM
8. 2026-06-08
   days on market $142,500 Active 48 DOM
9. 2026-06-07
   days on market $142,500 Active 47 DOM
10. 2026-06-07
    days on market $142,500 Active 46 DOM
11. 2026-06-04
    days on market $142,500 Active 43 DOM
12. 2026-06-02
    days on market $142,500 Active 42 DOM
13. 2026-06-01
    price $142,500 Active 41 DOM
14. 2026-06-01
    days on market $150,000 Active 41 DOM
15. 2026-05-31
    days on market $150,000 Active 40 DOM
16. 2026-05-31
    days on market $150,000 Active 39 DOM
17. 2026-04-21
    price $150,000 948-char remark

    Show marketing remark (948 chars)

    Fresh style meets everyday comfort in this charming home tucked into a quiet neighborhood you’ll love coming home to. The inviting front enclosed porch offers a perfect spot to start your morning or unwind at the end of the day. Inside, gleaming hardwood floors flow through a bright, open living and dining area, filled with natural light and timeless character. The updated kitchen features crisp cabinetry, modern backsplash, and stainless steel appliances, offering both function and a clean, timeless look. Three comfortable bedrooms offer cozy retreats, while the full bath is clean and functional. A second enclosed porch at the back creates flexible space for storage, hobbies, or a mudroom drop zone. Outside, enjoy a fully fenced yard ideal for pets, play, or entertaining, plus a two-stall detached garage with convenient alley access. This is easy living with thoughtful updates—schedule your showing and fall in love today!

18. 2026-04-21
    price $150,000 948-char remark

    Show marketing remark (948 chars)

    Fresh style meets everyday comfort in this charming home tucked into a quiet neighborhood you’ll love coming home to. The inviting front enclosed porch offers a perfect spot to start your morning or unwind at the end of the day. Inside, gleaming hardwood floors flow through a bright, open living and dining area, filled with natural light and timeless character. The updated kitchen features crisp cabinetry, modern backsplash, and stainless steel appliances, offering both function and a clean, timeless look. Three comfortable bedrooms offer cozy retreats, while the full bath is clean and functional. A second enclosed porch at the back creates flexible space for storage, hobbies, or a mudroom drop zone. Outside, enjoy a fully fenced yard ideal for pets, play, or entertaining, plus a two-stall detached garage with convenient alley access. This is easy living with thoughtful updates—schedule your showing and fall in love today!

19. 2026-04-21
    listed $155,000 Active 948-char remark

    Show marketing remark (948 chars)

    Fresh style meets everyday comfort in this charming home tucked into a quiet neighborhood you’ll love coming home to. The inviting front enclosed porch offers a perfect spot to start your morning or unwind at the end of the day. Inside, gleaming hardwood floors flow through a bright, open living and dining area, filled with natural light and timeless character. The updated kitchen features crisp cabinetry, modern backsplash, and stainless steel appliances, offering both function and a clean, timeless look. Three comfortable bedrooms offer cozy retreats, while the full bath is clean and functional. A second enclosed porch at the back creates flexible space for storage, hobbies, or a mudroom drop zone. Outside, enjoy a fully fenced yard ideal for pets, play, or entertaining, plus a two-stall detached garage with convenient alley access. This is easy living with thoughtful updates—schedule your showing and fall in love today!

20. 2026-04-21
    listed $155,000 Active 948-char remark

    Show marketing remark (948 chars)

    Fresh style meets everyday comfort in this charming home tucked into a quiet neighborhood you’ll love coming home to. The inviting front enclosed porch offers a perfect spot to start your morning or unwind at the end of the day. Inside, gleaming hardwood floors flow through a bright, open living and dining area, filled with natural light and timeless character. The updated kitchen features crisp cabinetry, modern backsplash, and stainless steel appliances, offering both function and a clean, timeless look. Three comfortable bedrooms offer cozy retreats, while the full bath is clean and functional. A second enclosed porch at the back creates flexible space for storage, hobbies, or a mudroom drop zone. Outside, enjoy a fully fenced yard ideal for pets, play, or entertaining, plus a two-stall detached garage with convenient alley access. This is easy living with thoughtful updates—schedule your showing and fall in love today!

21. 2023-11-27
    soldstatus $120,500
22. 2023-11-22
    soldstatus $120,500 Closed
23. 2023-11-10
    status Pending
24. 2023-10-27
    historical Active Under Contract
25. 2023-09-26
    listed $125,500 Active
26. 2017-03-31
    listed $87,900
27. 2016-12-02
    soldstatus $36,500
28. 2016-09-27
    listed $44,900

ⓘ 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: $1,298 · $108/mo
• Projected year-2 tax: $1,768 · $147/mo
• Expected delta: +$470/yr (+$39/mo · 36.2%)

ⓘ 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 1/10 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: $16,740
• − Mortgage interest: −$7,982
• − Property taxes: −$1,298
• − Insurance: −$712
• − Repairs & maintenance: −$1,339
• − Management: −$1,339
• − Depreciation: −$4,145
• Taxable loss: −$77
• Est. tax savings @ 24.0%: +$18
• After-tax cash flow: $2,265/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

+234.1% since first listed

12 events — show timeline

• 2026-04-21 Price Changed $150,000 Greater Mason BOR
• 2026-04-21 Price Changed $150,000 IAR
• 2026-04-21 Listed $155,000 IAR
• 2026-04-21 Listed $155,000 Greater Mason BOR
• 2023-11-27 Sold (Public Records) $120,500 Public Records
• 2023-11-22 Sold (MLS) $120,500 Greater Mason BOR
• 2023-11-10 Pending — Greater Mason BOR
• 2023-10-27 Contingent — Greater Mason BOR
• 2023-09-26 Listed $125,500 Greater Mason BOR
• 2017-03-31 Listed $87,900 Greater Mason BOR
• 2016-12-02 Sold (MLS) $36,500 Greater Mason BOR
• 2016-09-27 Listed $44,900 Greater Mason BOR

Property tax history

+4.6%/yr

Latest (2025): $1,298 · -8.6% YoY. Source: county tax records.