326 1st St NW · Mason City, IA 50401

$129,950

3 bd · 1.5 ba · 1,388 sqft · SingleFamily public records · 18 Days on market

Built 1900 4,356 sqft lot Est $135k · at est.

---

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 +27.1/30.0
• DSCR +9.4/10.0
• ARV discount +9.1/15.0
• 1% rule +6.9/10.0
• 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

THE WORK HAS BEEN DONE! AFFORDABLE! CLEAN! MOVE IN READY! EVER SO CHARMING 3 BEDROOM HOME! Nestled on a nice corner lot with many updates throughout! Fresh paint, new flooring (exception of 1 bdrm). Beautifully updated kitchen cabinetry offers a modern feel with stove and microwave included! Spacious floor plan, bright and airy! Main floor laundry or lower level, you decide! Additional improvements throughout the property! Nicely updated bath and so much more! Relax and enjoy the comfort and value! New shingles were installed in 2023. Don't miss this opportunity to own a well maintained home at a reasonable price! Call today and make this terrific property YOUR new HOME! :)

Key facts

• Updated bath
• Main floor laundry
• New shingles

Tags

• CORNER LOT
• UPDATED KITCHEN CABINETRY
• MAIN FLOOR LAUNDRY
• UPDATED BATH
• NEW SHINGLES

Property features AI

Exterior

• Parking: Asphalt parking
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential property; Two-story
• Construction: Frame construction with vinyl siding; Asphalt roof
• Exterior features: Corner lot

Interior

• Kitchen: Dishwasher; Gas range; Microwave
• Bedrooms: One main-level bedroom
• Flooring: Laminate flooring
• Heating & cooling: Forced air heating (natural gas); Central air; Ceiling fan(s)
• Interior features: Walk-in closet(s); Full basement

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $130k.

Deal economics

• At list price, monthly cash flow is $312 ($4k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $130k).
• Recommended offer: $128k (1.5% below list) — sets the bar for market timing.
• Cap rate 9.7% 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.
• Market conditions: 158 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 $898 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 18 days — a 2% lower offer ($128k) is reasonable based on typical stale-listing flexibility.
• 5 sale attempts since 4y ago; this cycle's ask has dropped $10k (7%) from the opening price — seller is motivated, your offer sets the floor, not the list.
• Current owner paid $92k; 41% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: flood insurance adds $56/mo; 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 $128,000 (1.5% below list)

Questions for the listing agent

1. Built in 1900 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
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: 1.19% ✓
• Cap rate: 9.69%
• Cash-on-cash: 12.12%
• DSCR: 1.54
• GRM: 7.0

CMA / ARV

• ARV (on-the-fly): $134,636
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
125 4th St NW	0.23mi	3/1.5	1,336 (-4%)	1mo	$151,000	$113	82
727 2nd St SW	0.35mi	3/1.5	1,429 (+3%)	5mo	$135,000	$94	75
194 N Crescent Dr Dr	0.46mi	3/2.0	1,364 (-2%)	5mo	$125,000	$92	70
616 S President Ave	0.52mi	4/2.0 (+1)	1,374 (-1%)	3mo	$123,000	$90	65
617 S Washington Ave	0.57mi	3/1.5	1,456 (+5%)	2mo	$114,000	$78	64
620 N Jackson Ave	0.43mi	4/1.0 (+1)	1,468 (+6%)	0mo	$190,000	$129	63
1111 1st St SW	0.61mi	2/1.8 (-1)	1,394 (+0%)	5mo	$150,000	$108	60
320 1st NE #307 St #307	0.57mi	2/2.0 (-1)	1,418 (+2%)	3mo	$255,000	$180	60
913 4th St SW	0.54mi	4/1.5 (+1)	1,312 (-6%)	4mo	$127,000	$97	58
1022 N Monroe Ave	0.64mi	2/2.0 (-1)	1,322 (-5%)	6mo	$123,000	$93	51
106 10th St NW	0.63mi	3/1.5	1,568 (+13%)	0mo	$164,900	$105	49
1025 2nd St NW	0.53mi	2/1.8 (-1)	1,188 (-14%)	5mo	$84,000	$71	42

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: -0.8%
• Equity multiple: 0.97×
• Total profit: $-1,167
• Equity at exit: $19,376

10-year hold

• IRR: 8.9%
• Equity multiple: 1.68×
• Total profit: $24,680
• Equity at exit: $11,236

Cash invested: $36,386 (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: 7.0×

Monthly cashflow live

• Estimated rent: $1,546 medium
• Mortgage (P&I): −$681
• Tax from tax record: −$119 /mo · $1,424/yr
• Insurance: −$54
• Flood insurance flood zone: −$56 /mo · $666/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$325
• Net cashflow: $312

Break-even live

Break-even rent $1,152

Max offer price $129,950

Occupancy floor 75%

Sensitivity live

Price	-10% $385	-5% $349	+0% $312	+5% $275	+10% $238
Rent	-10% $190	-5% $251	+0% $312	+5% $373	+10% $434
Rate	-1.0pp $377	-0.5pp $345	base $312	+0.5pp $278	+1.0pp $244

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: $32,488
• Closing costs: $3,898
• 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	0.26mi
12 2nd St NE Unit 6 Mason City, IA	2.0	1.0	1296	$1,600	$1.23	44d	1	0.33mi
110 N Delaware Ave Unit 211 Mason City, IA	2.0	1.0	919	$1,395	$1.52	44d	1	0.37mi

Listing history 13 events

1. 2026-06-21
   pricedays on market $129,950 Active 18 DOM
2. 2026-06-18
   days on market $139,950 Active 16 DOM
3. 2026-06-17
   days on market $139,950 Active 15 DOM
4. 2026-06-16
   days on market $139,950 Active 14 DOM
5. 2026-06-15
   days on market $139,950 Active 13 DOM
6. 2026-06-13
   days on market $139,950 Active 11 DOM
7. 2026-06-12
   days on market $139,950 Active 10 DOM
8. 2026-06-09
   days on market $139,950 Active 7 DOM
9. 2026-06-08
   days on market $139,950 Active 6 DOM
10. 2026-06-07
    days on market $139,950 Active 5 DOM
11. 2026-06-07
    days on market $139,950 Active 4 DOM
12. 2026-06-03
    remarks 682-char remark
13. 2026-06-03
    listed $139,950 Active 1 DOM

ⓘ 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: $1,424 · $119/mo
• Projected year-2 tax: $1,732 · $144/mo
• Expected delta: +$308/yr (+$26/mo · 21.6%)

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

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone X (unshaded) · 77% 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: $18,557
• − Mortgage interest: −$7,279
• − Property taxes: −$1,424
• − Insurance: −$1,316
• − Repairs & maintenance: −$1,485
• − Management: −$1,485
• − Depreciation: −$3,780
• Taxable income: $1,788
• Est. tax owed @ 24.0%: −$429
• After-tax cash flow: $3,313/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

+154.9% since first listed

9 events — show timeline

• 2026-06-02 Listed $139,950 Greater Mason BOR
• 2026-06-02 Listed $139,950 IAR
• 2025-02-13 Listed $104,900 Greater Mason BOR
• 2022-09-07 Sold (Public Records) $91,900 Public Records
• 2022-09-01 Sold (MLS) $91,900 Greater Mason BOR
• 2022-05-18 Listed $91,900 Greater Mason BOR
• 2022-03-03 Sold (Public Records) $50,000 Public Records
• 2022-02-28 Sold (MLS) $50,000 Greater Mason BOR
• 2022-01-18 Listed $54,900 Greater Mason BOR

Property tax history

+10.3%/yr

Latest (2025): $1,424 · +2.9% YoY. Source: county tax records.