308 12th St NW · Mason City, IA 50401

$110,000

3 bd · 1.5 ba · 1,334 sqft · SingleFamily public records · 68 Days on market

Built 1912 7,405 sqft lot $82/sqft · 7% above area Est $117k · 6% under

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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 +30.0/30.0
• ARV discount +10.4/15.0
• DSCR +10.0/10.0
• 1% rule +9.0/10.0
• 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

Check out this solid, classic two-story home in Mason City, IA. It’s got a detached two-car garage, a cozy enclosed front porch, and a back deck that looks out over the fenced yard. Inside, you’ll find fresh paint, new flooring, an open staircase, and a kitchen with brand-new appliances. With 1.5 baths, 3 bedrooms, office space and plenty of charm, it’s a great spot to make your own. This is a HomePath property.

Key facts

• Open staircase
• Fenced yard
• Back deck

Tags

• DETACHED TWO-CAR GARAGE
• ENCLOSED FRONT PORCH
• BACK DECK
• FENCED YARD
• OPEN STAIRCASE

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $110k.

Deal economics

• At list price, monthly cash flow is $464 ($6k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $110k).
• Recommended offer: $103k (6.0% below list) — sets the bar for market timing.
• Cap rate 11.4% 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 $761 of loan paydown is wiped out by about $3k 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.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $31k cash investment doubles in ~7 years — after that, you're playing with house money.

Negotiation context

• It's been on market 68 days — a 6% lower offer ($103k) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 10y 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 $69k; list at $110k implies a 59% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1912 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $103,400 (6.0% below list)

Questions for the listing agent

1. It's been on market 68 days. Have you received any prior offers? Is the seller open to a 6% concession, seller financing, or rate buy-down credit?
2. Built in 1912 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
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: 1.40% ✓
• Cap rate: 11.35%
• Cash-on-cash: 18.06%
• DSCR: 1.80
• GRM: 6.0

CMA / ARV

• ARV (median comp): $117,452
• List price: $110,000
• Delta: -6.34%
• 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
1435 N Jefferson Ave Ave	0.20mi	3/1.8	1,333 (-0%)	6mo	$92,000	$69	85
1022 N Monroe Ave	0.12mi	2/2.0 (-1)	1,322 (-1%)	5mo	$123,000	$93	81
1306 N Jefferson Ave	0.07mi	3/1.0	1,200 (-10%)	4mo	$114,000	$95	75
125 4th St NW	0.55mi	3/1.5	1,336 (+0%)	1mo	$151,000	$113	74
221 14th St NW	0.10mi	3/1.0	1,144 (-14%)	5mo	$106,000	$93	65
323 6th St NW	0.40mi	3/1.8	1,248 (-6%)	7mo	$145,000	$116	64
712 N Jackson Ave	0.40mi	2/1.8 (-1)	1,313 (-2%)	12mo	$159,500	$121	63
29 14th St NE	0.38mi	3/1.0	1,438 (+8%)	12mo	$143,000	$99	57
194 N Crescent Dr Dr	0.71mi	3/2.0	1,364 (+2%)	5mo	$125,000	$92	57
620 N Jackson Ave	0.43mi	4/1.0 (+1)	1,468 (+10%)	0mo	$190,000	$129	56
817 N Taylor Ave	0.60mi	3/1.0	1,437 (+8%)	10mo	$170,000	$118	49
227 N Crescent Dr Dr	0.73mi	2/1.8 (-1)	1,200 (-10%)	6mo	$129,000	$108	38

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: 9.7%
• Equity multiple: 1.38×
• Total profit: $11,720
• Equity at exit: $16,401

10-year hold

• IRR: 18.8%
• Equity multiple: 2.57×
• Total profit: $48,300
• Equity at exit: $9,511

Cash invested: $30,800 (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: 6.0×

Monthly cashflow live

• Estimated rent: $1,538 medium
• Mortgage (P&I): −$577
• Tax from tax record: −$129 /mo · $1,548/yr
• Insurance: −$46
• HOA: −$0
• Vacancy / Maint / Mgmt: −$323
• Net cashflow: $464

Break-even live

Break-even rent $952

Max offer price $110,000

Occupancy floor 65%

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: $27,500
• Closing costs: $3,300
• Reserves months: —
• Total cash needed: —

Rent comps 3 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
12 2nd St NE Unit 6 Mason City, IA	2.0	1.0	1296	$1,600	$1.23	43d	1	0.72mi
110 N Delaware Ave Unit 211 Mason City, IA	2.0	1.0	919	$1,395	$1.52	43d	1	0.79mi
215 2nd St SW Unit 100-210 Mason City, IA	3.0	2.0	1273	$1,580	$1.24	43d	1	0.93mi

Listing history 18 events

1. 2026-06-12
   statusdays on market $110,000 Pending 68 DOM
2. 2026-06-09
   days on market $110,000 Active Under Contract 66 DOM
3. 2026-06-08
   days on market $110,000 Active Under Contract 65 DOM
4. 2026-06-07
   days on market $110,000 Active Under Contract 64 DOM
5. 2026-06-07
   days on market $110,000 Active Under Contract 63 DOM
6. 2026-06-04
   days on market $110,000 Active Under Contract 60 DOM
7. 2026-06-02
   days on market $110,000 Active Under Contract 59 DOM
8. 2026-06-01
   days on market $110,000 Active Under Contract 58 DOM
9. 2026-05-31
   days on market $110,000 Active Under Contract 57 DOM
10. 2026-05-31
    days on market $110,000 Active Under Contract 56 DOM
11. 2026-05-06
    historical Active Under Contract 433-char remark

    Show marketing remark (433 chars)

    Check out this solid, classic two-story home in Mason City, IA. It’s got a detached two-car garage, a cozy enclosed front porch, and a back deck that looks out over the fenced yard. Inside, you’ll find fresh paint, new flooring, an open staircase, and a kitchen with brand-new appliances. With 1.5 baths, 3 bedrooms, office space and plenty of charm, it’s a great spot to make your own. This is a HomePath property.

12. 2026-04-30
    price $110,000 433-char remark

    Show marketing remark (433 chars)

    Check out this solid, classic two-story home in Mason City, IA. It’s got a detached two-car garage, a cozy enclosed front porch, and a back deck that looks out over the fenced yard. Inside, you’ll find fresh paint, new flooring, an open staircase, and a kitchen with brand-new appliances. With 1.5 baths, 3 bedrooms, office space and plenty of charm, it’s a great spot to make your own. This is a HomePath property.

13. 2026-04-02
    listed $115,000 Active 433-char remark

    Show marketing remark (433 chars)

    Check out this solid, classic two-story home in Mason City, IA. It’s got a detached two-car garage, a cozy enclosed front porch, and a back deck that looks out over the fenced yard. Inside, you’ll find fresh paint, new flooring, an open staircase, and a kitchen with brand-new appliances. With 1.5 baths, 3 bedrooms, office space and plenty of charm, it’s a great spot to make your own. This is a HomePath property.

14. 2017-06-01
    soldstatus $69,000
15. 2017-05-31
    soldstatus $69,000 478-char remark

    Show marketing remark (478 chars)

    Nice 3 bedroom, 1.25 baths home with spacious rooms for entertaining. Large living room with open staircase. Hardwood floors in both living and dining rooms divided by colonnades. Kitchen has been updated with new cabinets and flooring. Nice den or computer room located off formal dining. Deck to Fenced yard, garden box and shed. Double garage with two garage doors, north and south for easy access. Enclosed front porch. This home is a must see. .. .call today for a showing.

16. 2017-05-31
    soldstatus $69,000

    Show marketing remark (478 chars)

    Nice 3 bedroom, 1.25 baths home with spacious rooms for entertaining. Large living room with open staircase. Hardwood floors in both living and dining rooms divided by colonnades. Kitchen has been updated with new cabinets and flooring. Nice den or computer room located off formal dining. Deck to Fenced yard, garden box and shed. Double garage with two garage doors, north and south for easy access. Enclosed front porch. This home is a must see. .. .call today for a showing.

17. 2016-04-29
    listed $74,500 478-char remark

    Show marketing remark (478 chars)

    Nice 3 bedroom, 1.25 baths home with spacious rooms for entertaining. Large living room with open staircase. Hardwood floors in both living and dining rooms divided by colonnades. Kitchen has been updated with new cabinets and flooring. Nice den or computer room located off formal dining. Deck to Fenced yard, garden box and shed. Double garage with two garage doors, north and south for easy access. Enclosed front porch. This home is a must see. .. .call today for a showing.

18. 2016-04-29
    listed $74,500

    Show marketing remark (478 chars)

    Nice 3 bedroom, 1.25 baths home with spacious rooms for entertaining. Large living room with open staircase. Hardwood floors in both living and dining rooms divided by colonnades. Kitchen has been updated with new cabinets and flooring. Nice den or computer room located off formal dining. Deck to Fenced yard, garden box and shed. Double garage with two garage doors, north and south for easy access. Enclosed front porch. This home is a must see. .. .call today for a showing.

ⓘ 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: $1,548 · $129/mo
• Projected year-2 tax: $1,638 · $136/mo
• Expected delta: +$90/yr (+$7/mo · 5.8%)

ⓘ 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: $18,460
• − Mortgage interest: −$6,162
• − Property taxes: −$1,548
• − Insurance: −$550
• − Repairs & maintenance: −$1,477
• − Management: −$1,477
• − Depreciation: −$3,200
• Taxable income: $4,047
• Est. tax owed @ 24.0%: −$971
• After-tax cash flow: $4,592/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

+47.7% since first listed

8 events — show timeline

• 2026-05-06 Contingent — IAR
• 2026-04-30 Price Changed $110,000 IAR
• 2026-04-02 Listed $115,000 IAR
• 2017-06-01 Sold (Public Records) $69,000 Public Records
• 2017-05-31 Sold (MLS) $69,000 Greater Mason BOR
• 2017-05-31 Sold (MLS) $69,000 IAR
• 2016-04-29 Listed $74,500 Greater Mason BOR
• 2016-04-29 Listed $74,500 IAR

Property tax history

+3.9%/yr

Latest (2025): $1,548 · +2.9% YoY. Source: county tax records.