516 W Elm St · Mason City, IL 62664

$75,000

2 bd · 1.0 ba · 814 sqft · SingleFamily · 2 Days on market

Built 1949 0.26 ac lot

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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 +26.6/30.0
• DSCR +9.1/10.0
• ARV discount +7.5/15.0
• 1% rule +6.4/10.0
• 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

Lots of potential for inexpensive living in this 2 bedroom ranch. Full basement. Large yard. Contact your Realtor to see this home today!

Key facts

• Usable basement
• Roomy lot
• Attached garage

Tags

• STUCCO SIDED RANCH STYLE HOME
• ROOMY LOT
• BRIGHT AND AIRY LIVING ROOM
• UPDATED FULL HALL BATH
• ATTACHED GARAGE
• USABLE BASEMENT

Property features AI

Exterior

• Parking: Attached 1-car garage
• Utilities: Public water; Public sewer
• Home design: Single family residence; Built in 1949; Main living area and bedrooms on the main level; Basement present (full, unfinished)
• Construction: Shingle roof; Replacement windows
• Exterior features: Level lot; Shingle roof

Interior

• Kitchen: Refrigerator
• Bedrooms: 2 bedrooms (one bedroom on the main level, one bedroom on the main level)
• Flooring: Luxury vinyl plank flooring
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Ceiling fan(s); Replacement windows
• Laundry & utility: Laundry room located in the basement

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $75k.

Deal economics

• At list price, monthly cash flow is $200 ($2k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($857 rent vs $75k).

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, amenities F, commute 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.
• Zoned schools: Illini Central High School (math 5% / reading 15%, grade F, #528 of 693 statewide, top 82%, 185 students, 0% FRL) — zoned schools average 0% FRL vs 44% district-wide (44 pts lower); this property's tenant base skews higher-income than the district average.
• 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 $519 of loan paydown is wiped out by about $2k 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 $21k cash investment doubles in ~10 years — after that, you're playing with house money.

Negotiation context

• Only 2 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 13y 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 $35k; list at $75k implies a 114% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1949 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $75,000

Questions for the listing agent

1. Built in 1949 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. 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?
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: 1.14% ✓
• Cap rate: 9.50%
• Cash-on-cash: 11.44%
• DSCR: 1.51
• GRM: 7.3

CMA / ARV

• ARV (on-the-fly): $43,142
• Comps found: 5

Show comp detail 5 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
306 W High St	0.28mi	2/1.0	750 (-8%)	6mo	$69,900	$93	69
516 W Elm St	0.00mi	2/1.0	896 (+10%)	23mo	$35,000	$39	64
502 S Mason St	0.55mi	2/1.0	835 (+3%)	15mo	$36,000	$43	57
406 N Mason St	0.58mi	1/1.0 (-1)	913 (+12%)	1mo	$48,000	$53	46
525 N Main St	0.56mi	2/1.0	711 (-13%)	9mo	$120,000	$169	45

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: 0.7%
• Equity multiple: 1.03×
• Total profit: $586
• Equity at exit: $11,183

10-year hold

• IRR: 10.4%
• Equity multiple: 1.80×
• Total profit: $16,879
• Equity at exit: $6,485

Cash invested: $21,000 (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: 7.3×

Monthly cashflow live

• Estimated rent: $857 medium
• Mortgage (P&I): −$393
• Tax from tax record: −$52 /mo · $624/yr
• Insurance: −$31
• HOA: −$0
• Vacancy / Maint / Mgmt: −$180
• Net cashflow: $200

Break-even live

Break-even rent $603

Max offer price $75,000

Occupancy floor 72%

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: $18,750
• Closing costs: $2,250
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-05-22
   status Pending
2. 2026-05-18
   listed $75,000 Active
3. 2024-07-26
   soldstatus $35,000 Closed 140-char remark

   Show marketing remark (140 chars)

   Lots of potential for inexpensive living in this 2 bedroom ranch. Full basement. Large yard. Contact your Realtor to see this home today!

4. 2024-06-28
   status Pending 140-char remark

   Show marketing remark (140 chars)

   Lots of potential for inexpensive living in this 2 bedroom ranch. Full basement. Large yard. Contact your Realtor to see this home today!

5. 2024-06-07
   listed $38,500 Active 140-char remark

   Show marketing remark (140 chars)

   Lots of potential for inexpensive living in this 2 bedroom ranch. Full basement. Large yard. Contact your Realtor to see this home today!

6. 2013-12-26
   soldstatus $38,000
7. 2013-12-16
   soldstatus $38,000
8. 2013-06-06
   listed $59,900
9. 1998-10-21
   soldstatus $20,000

ⓘ 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: $624 · $52/mo
• Projected year-2 tax: $1,163 · $97/mo
• Expected delta: +$539/yr (+$45/mo · 86.5%)

ⓘ 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 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: $10,280
• − Mortgage interest: −$4,201
• − Property taxes: −$624
• − Insurance: −$375
• − Repairs & maintenance: −$822
• − Management: −$822
• − Depreciation: −$2,182
• Taxable income: $1,253
• Est. tax owed @ 24.0%: −$301
• After-tax cash flow: $2,102/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

+275.0% since first listed

9 events — show timeline

• 2026-05-22 Pending — RMLSA as Distributed by MLS Grid
• 2026-05-18 Listed $75,000 RMLSA as Distributed by MLS Grid
• 2024-07-26 Sold (MLS) $35,000 RMLSA as Distributed by MLS Grid
• 2024-06-28 Pending — RMLSA as Distributed by MLS Grid
• 2024-06-07 Listed $38,500 RMLSA as Distributed by MLS Grid
• 2013-12-26 Sold (Public Records) $38,000 Public Records
• 2013-12-16 Sold (MLS) $38,000 RMLSA as Distributed by MLS Grid
• 2013-06-06 Listed $59,900 RMLSA as Distributed by MLS Grid
• 1998-10-21 Sold (Public Records) $20,000 Public Records

Property tax history

-2.6%/yr

Latest (2024): $624 · -9.8% YoY. Source: county tax records.