717 1st St SW · Mason City, IA 50401

$142,100

3 bd · 1.5 ba · 1,195 sqft · SingleFamily public records · 49 Days on market

Built 1940 6,850 sqft lot $119/sqft · 9% above area Est $131k · 9% over

---

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 +24.5/30.0
• DSCR +7.9/10.0
• 1% rule +5.9/10.0
• Schools +4.5/10.0
• Livability +4.0/5.0
• ARV discount +3.6/15.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Listing remarks MLS

Nice brick home only 2 block's from the hospital. 2 bedroom home new carpet, oak floor's wood burning fireplace large storage shed. Large lot 3 parcel's 125x137 Priced to sell call today to see.

Key facts

• Open floor plan
• Fresh paint
• New doors

Tags

• FRESH PAINT
• NEW LIGHT FIXTURES
• NEW DOORS
• OAK FLOORS
• OPEN FLOOR PLAN
• LARGE YARD

Property features AI

Exterior

• Parking: Attached garage; 1 garage space; Concrete driveway; Garage door opener
• Utilities: Public water; Public sewer
• Home design: Single-family residence; 2 stories total; Residential property
• Construction: Brick construction; Below-grade finished area (180)
• Exterior features: Asphalt roof; Shed(s)

Interior

• Kitchen: Dishwasher; Electric range; Microwave; Refrigerator
• Flooring: Carpet; Vinyl; Wood
• Heating & cooling: Radiant heating; Window air conditioning units
• Interior features: Full, partially finished basement; Dishwasher; Electric range; Microwave; Refrigerator

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $142k.

Deal economics

• At list price, monthly cash flow is $291 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $142k).
• Recommended offer: $138k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.7% 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; 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 $982 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 ($138k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 9y 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 $65k; list at $142k implies a 119% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $137,837 (3.0% 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 3% concession, seller financing, or rate buy-down credit?
2. Built in 1940 — 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: 1.09% ✓
• Cap rate: 8.75%
• Cash-on-cash: 8.76%
• DSCR: 1.39
• GRM: 7.7

CMA / ARV

• ARV (median comp): $130,809
• List price: $142,100
• Delta: 8.63%
• 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
117 S Monroe Ave	0.20mi	3/1.5	1,089 (-9%)	1mo	$77,000	$71	75
726 1st St SW	0.04mi	2/1.2 (-1)	1,064 (-11%)	0mo	$144,000	$135	74
1025 2nd St NW	0.33mi	2/1.8 (-1)	1,188 (-1%)	5mo	$84,000	$71	74
913 4th St SW	0.25mi	4/1.5 (+1)	1,312 (+10%)	4mo	$127,000	$97	64
856 1st St NW	0.25mi	3/1.0	1,054 (-12%)	5mo	$146,000	$139	63
615 S Polk PL Pl	0.42mi	2/1.0 (-1)	1,120 (-6%)	4mo	$115,500	$103	60
6 Willowbrook Dr Dr	0.60mi	2/1.5 (-1)	1,250 (+5%)	2mo	$145,000	$116	58
125 4th St NW	0.52mi	3/1.5	1,336 (+12%)	1mo	$151,000	$113	55
194 N Crescent Dr Dr	0.34mi	3/2.0	1,364 (+14%)	5mo	$125,000	$92	55
147 N Crescent Dr Dr	0.26mi	2/1.0 (-1)	1,022 (-14%)	3mo	$112,500	$110	54
728 S Harrison Ave	0.48mi	3/1.0	1,032 (-14%)	6mo	$146,000	$141	48
616 S President Ave	0.54mi	4/2.0 (+1)	1,374 (+15%)	3mo	$123,000	$90	40

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: -3.0%
• Equity multiple: 0.89×
• Total profit: $-4,530
• Equity at exit: $21,188

10-year hold

• IRR: 6.7%
• Equity multiple: 1.50×
• Total profit: $19,847
• Equity at exit: $12,286

Cash invested: $39,788 (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: 7.7×

Monthly cashflow live

• Estimated rent: $1,544 medium
• Mortgage (P&I): −$745
• Tax from tax record: −$124 /mo · $1,494/yr
• Insurance: −$59
• HOA: −$0
• Vacancy / Maint / Mgmt: −$324
• Net cashflow: $291

Break-even live

Break-even rent $1,176

Max offer price $142,100

Occupancy floor 76%

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: $35,525
• Closing costs: $4,263
• 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	43d	1	0.36mi
12 2nd St NE Unit 6 Mason City, IA	2.0	1.0	1296	$1,600	$1.23	43d	1	0.61mi
110 N Delaware Ave Unit 211 Mason City, IA	2.0	1.0	919	$1,395	$1.52	43d	1	0.64mi

Listing history 20 events

1. 2026-06-18
   days on market $142,100 Active 49 DOM
2. 2026-06-17
   days on market $142,100 Active 48 DOM
3. 2026-06-16
   days on market $142,100 Active 47 DOM
4. 2026-06-15
   days on market $142,100 Active 46 DOM
5. 2026-06-13
   days on market $142,100 Active 44 DOM
6. 2026-06-12
   days on market $142,100 Active 43 DOM
7. 2026-06-09
   days on market $142,100 Active 40 DOM
8. 2026-06-08
   days on market $142,100 Active 39 DOM
9. 2026-06-07
   days on market $142,100 Active 38 DOM
10. 2026-06-07
    days on market $142,100 Active 37 DOM
11. 2026-06-04
    days on market $142,100 Active 34 DOM
12. 2026-06-02
    days on market $142,100 Active 33 DOM
13. 2026-06-01
    days on market $142,100 Active 32 DOM
14. 2026-05-31
    days on market $142,100 Active 31 DOM
15. 2026-05-31
    days on market $142,100 Active 30 DOM
16. 2026-04-30
    listed $142,100 Active 361-char remark
17. 2025-08-18
    listed $138,400 Active
18. 2018-01-09
    soldstatus $65,000
19. 2017-12-29
    soldstatus $65,000

    Show marketing remark (194 chars)

    Nice brick home only 2 block's from the hospital. 2 bedroom home new carpet, oak floor's wood burning fireplace large storage shed. Large lot 3 parcel's 125x137 Priced to sell call today to see.

20. 2017-11-28
    listed $75,000

    Show marketing remark (194 chars)

    Nice brick home only 2 block's from the hospital. 2 bedroom home new carpet, oak floor's wood burning fireplace large storage shed. Large lot 3 parcel's 125x137 Priced to sell call today to see.

ⓘ 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: $1,494 · $124/mo
• Projected year-2 tax: $1,862 · $155/mo
• Expected delta: +$368/yr (+$31/mo · 24.7%)

ⓘ 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 2/10 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: $18,523
• − Mortgage interest: −$7,960
• − Property taxes: −$1,494
• − Insurance: −$710
• − Repairs & maintenance: −$1,482
• − Management: −$1,482
• − Depreciation: −$4,134
• Taxable income: $1,262
• Est. tax owed @ 24.0%: −$303
• After-tax cash flow: $3,184/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

+89.5% since first listed

5 events — show timeline

• 2026-04-30 Listed $142,100 Greater Mason BOR
• 2025-08-18 Listed $138,400 Greater Mason BOR
• 2018-01-09 Sold (Public Records) $65,000 Public Records
• 2017-12-29 Sold (MLS) $65,000 Greater Mason BOR
• 2017-11-28 Listed $75,000 Greater Mason BOR

Property tax history

-1.2%/yr

Latest (2025): $1,494 · +2.9% YoY. Source: county tax records.