16111 245th St St · Mason City, IA 50401

$148,720

3 bd · 3.5 ba · 1,212 sqft · SingleFamily public records · 49 Days on market

Built 1948 0.25 ac lot $123/sqft · 8% above area Est $137k · 8% over

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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 +16.7/30.0
• DSCR +5.2/10.0
• Schools +4.5/10.0
• Livability +4.0/5.0
• 1% rule +3.9/10.0
• ARV discount +3.7/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

LOOKING FOR SPACE, COMFORT AND A PEACEFUL SETTING WITHOUT LEAVING TOWN! This ever so charming 3 bedroom, 1.75 bath home offers the best of both worlds! New siding, soffit and fascia 2024! Step inside to find generously sized rooms that provide plenty of space to relax and enjoy, terrific bath update, new carpet and A/C 2025! The convenience of main floor laundry makes everyday living easy, washer/dryer (new 2023) stay! Terrific kitchen, abundant cabinetry, all appliances are included! Outside ~ you’ll love the huge fenced yard, perfect for pets, gardening, or simply enjoying the outdoors for entertaining and barbecues! The property offers a quiet, country like feel while still being located in town, giving you the tranquility you want with the convenience you need! Don’t miss this opportunity to enjoy space, comfort, and a unique setting all in one place! Call today and make this lovely property YOUR new HOME! :)

Key facts

• Main floor laundry
• Huge fenced yard
• Abundant cabinetry

Tags

• MAIN FLOOR LAUNDRY
• HUGE FENCED YARD
• ABUNDANT CABINETRY
• ALL APPLIANCES INCLUDED

Property features AI

Exterior

• Parking: Attached garage (1 car); Concrete parking
• Utilities: Well (private) water; Public sewer
• Home design: Single-family residence; One-story
• Construction: Frame construction with vinyl siding; Asphalt and rubber roofing
• Exterior features: Fenced yard; Shed(s)

Interior

• Kitchen: Dishwasher; Double oven; Electric range; Microwave; Refrigerator
• Bedrooms: 3 main-level bedrooms
• Flooring: Carpet
• Bathrooms: 1 main-level bathroom
• Heating & cooling: Forced air heating (natural gas); Central air; Ceiling fans
• Interior features: Eat-in kitchen; Partial crawl-space basement

What this means for you Summary

Snapshot

• This is a 3-bed/3.5-bath single-family listed at $149k.

Deal economics

• At list price, monthly cash flow is $92 ($1k/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 $132k (11.3% below list).
• Recommended offer: $132k (11.3% below list) — sets the bar for 1% rule.
• Cap rate 7.0% 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.
• Zoned schools: Roosevelt Elementary School (math 62% / reading 62%, grade B, #363 of 616 statewide, top 62%, 357 students, 68% FRL); John Adams Middle School (math 46% / reading 54%, grade C, #216 of 246 statewide, top 88%, 480 students, 56% FRL); Mason City High School (math 50% / reading 63%, grade C, #286 of 336 statewide, top 85%, 956 students, 46% FRL).
• Market conditions: 158 active listings in the ZIP; 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 $1k 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 49 days — a 3% lower offer ($144k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 3y 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.

Risks & watch-outs

• Watch-outs: built in 1948 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $131,934 (11.3% below list)

Questions for the listing agent

1. It's been on market 49 days. Have you received any prior offers? Is the seller open to a 11% concession, seller financing, or rate buy-down credit?
2. Built in 1948 — 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. 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?
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: 0.89% ✗
• Cap rate: 7.03%
• Cash-on-cash: 2.64%
• DSCR: 1.12
• GRM: 9.4

CMA / ARV

• ARV (median comp): $137,178
• List price: $148,720
• Delta: 8.41%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Show comp detail 3 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
11 25th St SW	0.64mi	3/2.0	1,232 (+2%)	11mo	$70,000	$57	52
103 27th St SW	0.55mi	3/1.5	1,330 (+10%)	2mo	$148,000	$111	49
24 24th St SW	0.73mi	2/1.8 (-1)	1,359 (+12%)	8mo	$163,000	$120	27

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: -12.2%
• Equity multiple: 0.56×
• Total profit: $-18,294
• Equity at exit: $22,175

10-year hold

• IRR: -3.1%
• Equity multiple: 0.80×
• Total profit: $-8,531
• Equity at exit: $12,859

Cash invested: $41,642 (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: 9.4×

Monthly cashflow live

• Estimated rent: $1,319 medium
• Mortgage (P&I): −$780
• Tax from tax record: −$109 /mo · $1,306/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $92

Break-even live

Break-even rent $1,203

Max offer price $148,720

Occupancy floor 88%

Sensitivity live

Price	-10% $176	-5% $134	+0% $92	+5% $49	+10% $7
Rent	-10% $-13	-5% $39	+0% $92	+5% $144	+10% $196
Rate	-1.0pp $166	-0.5pp $129	base $92	+0.5pp $53	+1.0pp $14

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: $37,180
• Closing costs: $4,462
• Reserves months: —
• Total cash needed: —

Listing history 26 events

1. 2026-06-22
   days on market $148,720 Active 49 DOM
2. 2026-06-21
   days on market $148,720 Active 48 DOM
3. 2026-06-21
   days on market $148,720 Active 47 DOM
4. 2026-06-18
   days on market $148,720 Active 45 DOM
5. 2026-06-17
   days on market $148,720 Active 44 DOM
6. 2026-06-16
   days on market $148,720 Active 43 DOM
7. 2026-06-16
   price $148,720 Active 42 DOM
8. 2026-06-15
   days on market $153,720 Active 42 DOM

   Show marketing remark (938 chars)

   LOOKING FOR SPACE, COMFORT AND A PEACEFUL SETTING WITHOUT LEAVING TOWN! This ever so charming 3 bedroom, 1.75 bath home offers the best of both worlds! New siding, soffit and fascia 2024! Step inside to find generously sized rooms that provide plenty of space to relax and enjoy, terrific bath update, new carpet and A/C 2025! The convenience of main floor laundry makes everyday living easy, washer/dryer (new 2023) stay! Terrific kitchen, abundant cabinetry, all appliances are included! Outside ~ you’ll love the huge fenced yard, perfect for pets, gardening, or simply enjoying the outdoors for entertaining and barbecues! The property offers a quiet, country like feel while still being located in town, giving you the tranquility you want with the convenience you need! Don’t miss this opportunity to enjoy space, comfort, and a unique setting all in one place! Call today and make this lovely property YOUR new HOME! :)

9. 2026-06-13
   days on market $153,720 Active 40 DOM
10. 2026-06-12
    days on market $153,720 Active 39 DOM
11. 2026-06-09
    days on market $153,720 Active 36 DOM
12. 2026-06-08
    days on market $153,720 Active 35 DOM
13. 2026-06-07
    days on market $153,720 Active 34 DOM
14. 2026-06-07
    days on market $153,720 Active 33 DOM
15. 2026-06-04
    days on market $153,720 Active 30 DOM
16. 2026-06-02
    days on market $153,720 Active 29 DOM
17. 2026-06-01
    days on market $153,720 Active 28 DOM
18. 2026-05-31
    days on market $153,720 Active 27 DOM
19. 2026-05-31
    days on market $153,720 Active 26 DOM
20. 2026-05-04
    listed $153,720 Active 938-char remark

    Show marketing remark (938 chars)

    LOOKING FOR SPACE, COMFORT AND A PEACEFUL SETTING WITHOUT LEAVING TOWN! This ever so charming 3 bedroom, 1.75 bath home offers the best of both worlds! New siding, soffit and fascia 2024! Step inside to find generously sized rooms that provide plenty of space to relax and enjoy, terrific bath update, new carpet and A/C 2025! The convenience of main floor laundry makes everyday living easy, washer/dryer (new 2023) stay! Terrific kitchen, abundant cabinetry, all appliances are included! Outside ~ you’ll love the huge fenced yard, perfect for pets, gardening, or simply enjoying the outdoors for entertaining and barbecues! The property offers a quiet, country like feel while still being located in town, giving you the tranquility you want with the convenience you need! Don’t miss this opportunity to enjoy space, comfort, and a unique setting all in one place! Call today and make this lovely property YOUR new HOME! :)

21. 2026-05-04
    listed $153,720 Active 938-char remark

    Show marketing remark (938 chars)

    LOOKING FOR SPACE, COMFORT AND A PEACEFUL SETTING WITHOUT LEAVING TOWN! This ever so charming 3 bedroom, 1.75 bath home offers the best of both worlds! New siding, soffit and fascia 2024! Step inside to find generously sized rooms that provide plenty of space to relax and enjoy, terrific bath update, new carpet and A/C 2025! The convenience of main floor laundry makes everyday living easy, washer/dryer (new 2023) stay! Terrific kitchen, abundant cabinetry, all appliances are included! Outside ~ you’ll love the huge fenced yard, perfect for pets, gardening, or simply enjoying the outdoors for entertaining and barbecues! The property offers a quiet, country like feel while still being located in town, giving you the tranquility you want with the convenience you need! Don’t miss this opportunity to enjoy space, comfort, and a unique setting all in one place! Call today and make this lovely property YOUR new HOME! :)

22. 2023-04-10
    soldstatus $140,000
23. 2023-04-06
    soldstatus $140,000 Closed

    Show marketing remark (572 chars)

    City Lights. .. with Country Views! This spotlessly clean home offers everything you've been searching for! Featuring 3 bedrooms, huge eat-in kitchen with all appliances included, generous room sizes, oodles of storage, 1 3/4 baths, main floor laundry room, attached garage, and a garden-sized back yard. This home has been freshly updated, so that's all you have to do is move right in. Don't wait another moment! Place the Call. .. NOW! * * * Please Note: All offers must be submitted by 8:00 PM on Sunday 02/26/23. They will be reviewed on Monday 02/27/23 * * *

24. 2023-02-27
    historical Active Under Contract

    Show marketing remark (572 chars)

    City Lights. .. with Country Views! This spotlessly clean home offers everything you've been searching for! Featuring 3 bedrooms, huge eat-in kitchen with all appliances included, generous room sizes, oodles of storage, 1 3/4 baths, main floor laundry room, attached garage, and a garden-sized back yard. This home has been freshly updated, so that's all you have to do is move right in. Don't wait another moment! Place the Call. .. NOW! * * * Please Note: All offers must be submitted by 8:00 PM on Sunday 02/26/23. They will be reviewed on Monday 02/27/23 * * *

25. 2023-02-21
    listed $112,500 Active

    Show marketing remark (572 chars)

    City Lights. .. with Country Views! This spotlessly clean home offers everything you've been searching for! Featuring 3 bedrooms, huge eat-in kitchen with all appliances included, generous room sizes, oodles of storage, 1 3/4 baths, main floor laundry room, attached garage, and a garden-sized back yard. This home has been freshly updated, so that's all you have to do is move right in. Don't wait another moment! Place the Call. .. NOW! * * * Please Note: All offers must be submitted by 8:00 PM on Sunday 02/26/23. They will be reviewed on Monday 02/27/23 * * *

26. 2015-12-07
    soldstatus $50,000

ⓘ 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: $1,306 · $109/mo
• Projected year-2 tax: $1,820 · $152/mo
• Expected delta: +$514/yr (+$43/mo · 39.4%)

ⓘ 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 ≥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: $15,832
• − Mortgage interest: −$8,331
• − Property taxes: −$1,306
• − Insurance: −$744
• − Repairs & maintenance: −$1,267
• − Management: −$1,267
• − Depreciation: −$4,326
• Taxable loss: −$1,408
• Est. tax savings @ 24.0%: +$338
• After-tax cash flow: $1,437/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

• 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

+197.4% since first listed

9 events — show timeline

• 2026-06-15 Price Changed $148,720 Greater Mason BOR
• 2026-06-15 Price Changed $148,720 IAR
• 2026-05-04 Listed $153,720 IAR
• 2026-05-04 Listed $153,720 Greater Mason BOR
• 2023-04-10 Sold (Public Records) $140,000 Public Records
• 2023-04-06 Sold (MLS) $140,000 Greater Mason BOR
• 2023-02-27 Contingent — Greater Mason BOR
• 2023-02-21 Listed $112,500 Greater Mason BOR
• 2015-12-07 Sold (Public Records) $50,000 Public Records

Property tax history

+4.3%/yr

Latest (2025): $1,306 · +39.2% YoY. Source: county tax records.