816 S Maryland Ave · Mason City, IA 50401

$149,900

3 bd · 3.0 ba · 2,143 sqft · SingleFamily public records · 11 Days on market

Built 1953 4,356 sqft lot Est $231k · 35% under

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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 +15.1/30.0
• ARV discount +15.0/15.0
• DSCR +4.6/10.0
• Schools +4.5/10.0
• 1% rule +4.2/10.0
• 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

Nice 1 1/2 story, 3-bedroom brick home in southeast Mason City. Great curb appeal, fenced in back yard, one car attached garage and separate entrance to main floor extra room. Hardwoods floors in main floor living room and bedroom. New windows, gutters and leaf guards in 2015, new furnace 2020, updated main floor bathroom, new front storm door. New shingles installed August 2023. Call the listing agent for more information.

Key facts

• Main floor laundry
• Hardwood floors
• 4,356 sq ft lot

Tags

• HARDWOOD FLOORS
• MAIN FLOOR LAUNDRY
• FULLY FENCED BACKYARD

Property features AI

Exterior

• Parking: Attached garage (1 car); Concrete driveway
• Utilities: Public water; Public sewer
• Home design: Single family residence; 2 stories
• Construction: Brick construction; Asphalt/composition roof
• Exterior features: Fenced yard; Shed(s)

Interior

• Kitchen: Dishwasher; Gas range; Microwave; Refrigerator; Garbage disposal
• Bedrooms: 2 main level bedrooms
• Flooring: Ceramic tile; Wood
• Bathrooms: 1 main level bathroom
• Heating & cooling: Forced air heating (natural gas); Central air; Window unit(s); Ceiling fan(s)
• Interior features: Dishwasher; Disposal; Gas range; Microwave; Refrigerator; Partial basement

What this means for you Summary

Snapshot

• This is a 3-bed/3.0-bath single-family listed at $150k.

Deal economics

• At list price, monthly cash flow is $49 ($589/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 $138k (7.8% below list).
• Recommended offer: $138k (7.8% below list) — sets the bar for 1% rule.
• Cap rate 6.7% vs local median 5.3% in Mason City — meaningfully above typical; check what's discounted (condition, days-on-market, listing class) to confirm the premium yield is real.

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; 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

• Only 11 days on market — expect competitive offers; lowballing is unlikely to land.
• 3 sale attempts since 11y 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 $128k; 17% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1953 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $138,201 (7.8% below list)

Questions for the listing agent

1. Built in 1953 — 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. 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.
4. 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.
5. 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: 0.92% ✗
• Cap rate: 6.69%
• Cash-on-cash: 1.40%
• DSCR: 1.06
• GRM: 9.0

CMA / ARV

• ARV (on-the-fly): $231,444
• Comps found: 12

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
706 6th St SE	0.38mi	4/2.0 (+1)	2,184 (+2%)	0mo	$238,000	$109	70
413 S Carolina Ave	0.33mi	3/1.8	2,220 (+4%)	7mo	$160,000	$72	68
253 6th St SE	0.27mi	3/2.0	1,879 (-12%)	7mo	$86,500	$46	57
221 6th St SW	0.70mi	3/1.8	2,244 (+5%)	2mo	$135,000	$60	53
30 Kentucky Ct Ct	0.66mi	4/1.8 (+1)	2,112 (-1%)	9mo	$265,000	$125	50
1925 S Carolina Terrace Ter	0.70mi	3/2.5	1,952 (-9%)	1mo	$285,000	$146	50
706 6th St SE	0.38mi	4/1.8 (+1)	1,842 (-14%)	0mo	$238,000	$129	49
943 6th St SE	0.59mi	3/1.8	2,346 (+10%)	4mo	$187,000	$80	49
201 S Vermont Ave	0.70mi	4/1.8 (+1)	2,093 (-2%)	7mo	$180,000	$86	48
215 S Vermont Ave	0.68mi	4/2.2 (+1)	2,267 (+6%)	4mo	$245,000	$108	47
330 E State St	0.62mi	4/2.5 (+1)	1,929 (-10%)	8mo	$268,000	$139	40
1004 Crestmore Way Way	0.60mi	3/1.0	1,824 (-15%)	3mo	$180,000	$99	37

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: -14.0%
• Equity multiple: 0.50×
• Total profit: $-21,140
• Equity at exit: $22,351

10-year hold

• IRR: -5.2%
• Equity multiple: 0.66×
• Total profit: $-14,282
• Equity at exit: $12,961

Cash invested: $41,972 (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: 9.0×

Monthly cashflow live

• Estimated rent: $1,382 medium
• Mortgage (P&I): −$786
• Tax from tax record: −$194 /mo · $2,330/yr
• Insurance: −$62
• HOA: −$0
• Vacancy / Maint / Mgmt: −$290
• Net cashflow: $49

Break-even live

Break-even rent $1,320

Max offer price $149,900

Occupancy floor 91%

Sensitivity live

Price	-10% $134	-5% $91	+0% $49	+5% $7	+10% $-36
Rent	-10% $-60	-5% $-6	+0% $49	+5% $104	+10% $158
Rate	-1.0pp $125	-0.5pp $87	base $49	+0.5pp $10	+1.0pp $-29

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: $37,475
• Closing costs: $4,497
• Reserves months: —
• Total cash needed: —

Listing history 9 events

1. 2026-06-21
   days on market $149,900 Active 11 DOM
2. 2026-06-18
   days on market $149,900 Active 9 DOM
3. 2026-06-17
   days on market $149,900 Active 8 DOM
4. 2026-06-16
   days on market $149,900 Active 7 DOM
5. 2026-06-15
   days on market $149,900 Active 6 DOM
6. 2026-06-13
   days on market $149,900 Active 4 DOM
7. 2026-06-12
   days on market $149,900 Active 3 DOM
8. 2026-06-09
   remarks 693-char remark
9. 2026-06-09
   listed $149,900 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: $2,330 · $194/mo
• Projected year-2 tax: $2,342 · $195/mo
• Expected delta: +$12/yr (+$1/mo · 0.5%)

ⓘ 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 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: $16,584
• − Mortgage interest: −$8,397
• − Property taxes: −$2,330
• − Insurance: −$750
• − Repairs & maintenance: −$1,327
• − Management: −$1,327
• − Depreciation: −$4,361
• Taxable loss: −$1,906
• Est. tax savings @ 24.0%: +$458
• After-tax cash flow: $1,046/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

+99.9% since first listed

12 events — show timeline

• 2026-06-09 Listed $149,900 Greater Mason BOR
• 2023-11-30 Sold (Public Records) $128,000 Public Records
• 2023-11-27 Sold (MLS) $128,000 Greater Mason BOR
• 2023-11-17 Pending — Greater Mason BOR
• 2023-10-27 Contingent — Greater Mason BOR
• 2023-10-20 Price Changed $129,000 Greater Mason BOR
• 2023-09-18 Price Changed $139,900 Greater Mason BOR
• 2023-08-24 Price Changed $149,900 Greater Mason BOR
• 2023-07-29 Listed $159,900 Greater Mason BOR
• 2015-08-04 Sold (Public Records) $56,000 Public Records
• 2015-08-04 Sold (MLS) $56,000 Greater Mason BOR
• 2015-03-05 Listed $75,000 Greater Mason BOR

Property tax history

+3.4%/yr

Latest (2025): $2,330 · +2.9% YoY. Source: county tax records.