1447 N Carolina Ave · Mason City, IA 50401

$139,900

3 bd · 1.5 ba · 1,300 sqft · SingleFamily public records · 49 Days on market

Built 1895 0.70 ac lot $108/sqft · 43% above area Est $162k · 14% 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 +22.8/30.0
• ARV discount +13.7/15.0
• DSCR +7.3/10.0
• 1% rule +6.0/10.0
• 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

Tucked away on a quiet, low traveled street lined with mature trees, this character filled home sits on an impressive . 70 acre lot offering privacy and space that is hard to find. From the moment you arrive, you will appreciate the peaceful setting and timeless charm throughout. Inside, you will find a large living room filled with natural light, a formal dining space perfect for gatherings, and a spacious kitchen with plenty of storage and functionality. Original details throughout the home add warmth and personality you simply cannot replicate, while new flooring and fresh paint create a clean, refreshed feel. All three bedrooms are located upstairs, offering separation from the main living spaces and a functional layout. The home features thoughtful flow throughout, with inviting spaces that feel both comfortable and welcoming. Step outside to enjoy the partially fenced yard, two stall garage, along with a patio and wood deck that create the perfect setting for relaxing evenings or entertaining guests.

Key facts

• Formal dining space
• Spacious kitchen
• Large living room

Tags

• QUIET LOW TRAVELED STREET
• IMPRESSIVE .70 ACRE LOT
• LARGE LIVING ROOM
• FORMAL DINING SPACE
• SPACIOUS KITCHEN
• ORIGINAL DETAILS

What this means for you Summary

Snapshot

• This is a 3-bed/1.5-bath single-family listed at $140k.

Deal economics

• At list price, monthly cash flow is $243 ($3k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($2k rent vs $140k).
• Recommended offer: $136k (3.0% below list) — sets the bar for market timing.
• Cap rate 8.4% 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 $967 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 ($136k) is reasonable based on typical stale-listing flexibility.
• 2 sale attempts since 5y 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 $100k; 40% above their basis — modest negotiation headroom, anchor on the comps not their cost.

Risks & watch-outs

• Watch-outs: built in 1895 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $135,703 (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 1895 — 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: 1.10% ✓
• Cap rate: 8.38%
• Cash-on-cash: 7.44%
• DSCR: 1.33
• GRM: 7.6

CMA / ARV

• ARV (median comp): $162,056
• List price: $139,900
• Delta: -13.67%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
1320 N Rhode Island Is	0.35mi	3/1.0	1,258 (-3%)	2mo	$153,000	$122	74
807 10th St NE	0.46mi	3/1.2	1,332 (+2%)	2mo	$135,000	$101	72
726 11th St NE	0.35mi	3/2.0	1,336 (+3%)	6mo	$82,500	$62	72
1306 N Rhode Island Is	0.36mi	3/1.5	1,393 (+7%)	5mo	$156,000	$112	67
1426 N Rhode Island Is	0.33mi	3/1.0	1,409 (+8%)	2mo	$153,000	$109	67
716 15th ST St NE	0.22mi	2/1.2 (-1)	1,204 (-7%)	6mo	$153,000	$127	66
5 Highland Park Ct Ct	0.25mi	2/1.8 (-1)	1,388 (+7%)	8mo	$155,000	$112	65
1015 10th St NE	0.64mi	3/1.2	1,314 (+1%)	6mo	$144,000	$110	63
685 14th St NE	0.20mi	3/1.0	1,152 (-11%)	11mo	$167,000	$145	61
663 10th St NE	0.39mi	2/1.0 (-1)	1,402 (+8%)	8mo	$170,000	$121	55
1031 10th St NE	0.66mi	3/1.0	1,340 (+3%)	12mo	$170,500	$127	52
415 N Massachusetts Ave	0.71mi	3/1.5	1,152 (-11%)	6mo	$138,000	$120	43

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: -4.9%
• Equity multiple: 0.82×
• Total profit: $-7,177
• Equity at exit: $20,860

10-year hold

• IRR: 4.8%
• Equity multiple: 1.35×
• Total profit: $13,768
• Equity at exit: $12,096

Cash invested: $39,172 (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: 7.6×

Monthly cashflow live

• Estimated rent: $1,535 medium
• Mortgage (P&I): −$734
• Tax from tax record: −$178 /mo · $2,136/yr
• Insurance: −$58
• HOA: −$0
• Vacancy / Maint / Mgmt: −$322
• Net cashflow: $243

Break-even live

Break-even rent $1,228

Max offer price $139,900

Occupancy floor 79%

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: $34,975
• Closing costs: $4,197
• 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	44d	1	0.98mi
110 N Delaware Ave Unit 211 Mason City, IA	2.0	1.0	919	$1,395	$1.52	44d	1	1.00mi
215 2nd St SW Unit 100-210 Mason City, IA	3.0	2.0	1273	$1,580	$1.24	44d	1	1.34mi

Listing history 15 events

1. 2026-06-09
   statusdays on market $139,900 Pending 49 DOM
2. 2026-06-08
   days on market $139,900 Active 48 DOM
3. 2026-06-07
   days on market $139,900 Active 47 DOM
4. 2026-06-07
   days on market $139,900 Active 46 DOM
5. 2026-06-04
   days on market $139,900 Active 43 DOM
6. 2026-06-02
   days on market $139,900 Active 42 DOM
7. 2026-06-01
   days on market $139,900 Active 41 DOM
8. 2026-05-31
   days on market $139,900 Active 40 DOM
9. 2026-05-31
   days on market $139,900 Active 39 DOM
10. 2026-05-07
    price $139,900 1021-char remark

    Show marketing remark (1021 chars)

    Tucked away on a quiet, low traveled street lined with mature trees, this character filled home sits on an impressive . 70 acre lot offering privacy and space that is hard to find. From the moment you arrive, you will appreciate the peaceful setting and timeless charm throughout. Inside, you will find a large living room filled with natural light, a formal dining space perfect for gatherings, and a spacious kitchen with plenty of storage and functionality. Original details throughout the home add warmth and personality you simply cannot replicate, while new flooring and fresh paint create a clean, refreshed feel. All three bedrooms are located upstairs, offering separation from the main living spaces and a functional layout. The home features thoughtful flow throughout, with inviting spaces that feel both comfortable and welcoming. Step outside to enjoy the partially fenced yard, two stall garage, along with a patio and wood deck that create the perfect setting for relaxing evenings or entertaining guests.

11. 2026-04-21
    listed $144,900 Active 1021-char remark

    Show marketing remark (1021 chars)

    Tucked away on a quiet, low traveled street lined with mature trees, this character filled home sits on an impressive . 70 acre lot offering privacy and space that is hard to find. From the moment you arrive, you will appreciate the peaceful setting and timeless charm throughout. Inside, you will find a large living room filled with natural light, a formal dining space perfect for gatherings, and a spacious kitchen with plenty of storage and functionality. Original details throughout the home add warmth and personality you simply cannot replicate, while new flooring and fresh paint create a clean, refreshed feel. All three bedrooms are located upstairs, offering separation from the main living spaces and a functional layout. The home features thoughtful flow throughout, with inviting spaces that feel both comfortable and welcoming. Step outside to enjoy the partially fenced yard, two stall garage, along with a patio and wood deck that create the perfect setting for relaxing evenings or entertaining guests.

12. 2023-01-03
    soldstatus $100,000
13. 2022-04-13
    soldstatus $100,000
14. 2022-04-12
    soldstatus $100,000 196-char remark

    Show marketing remark (196 chars)

    3 bedroom, 2 stall garage plus additional large shed. Plenty of room for the kids & pets to play. Woodharbor kitchen, formal dining room, deck and patio area for entertaining. PRICE REDUCED!

15. 2021-10-25
    listed $124,500 196-char remark

    Show marketing remark (196 chars)

    3 bedroom, 2 stall garage plus additional large shed. Plenty of room for the kids & pets to play. Woodharbor kitchen, formal dining room, deck and patio area for entertaining. PRICE REDUCED!

ⓘ 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: $2,136 · $178/mo
• Projected year-2 tax: $2,166 · $181/mo
• Expected delta: +$30/yr (+$3/mo · 1.4%)

ⓘ 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 3/10 Moderate
• 🌡 Heat 2/10 Low 7 d/yr ≥101°F today · 15 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: $18,422
• − Mortgage interest: −$7,837
• − Property taxes: −$2,136
• − Insurance: −$700
• − Repairs & maintenance: −$1,474
• − Management: −$1,474
• − Depreciation: −$4,070
• Taxable income: $733
• Est. tax owed @ 24.0%: −$176
• After-tax cash flow: $2,738/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

+12.4% since first listed

6 events — show timeline

• 2026-05-07 Price Changed $139,900 DMMLS
• 2026-04-21 Listed $144,900 DMMLS
• 2023-01-03 Sold (Public Records) $100,000 Public Records
• 2022-04-13 Sold (Public Records) $100,000 Public Records
• 2022-04-12 Sold (MLS) $100,000 Greater Mason BOR
• 2021-10-25 Listed $124,500 Greater Mason BOR

Property tax history

+5.0%/yr

Latest (2025): $2,136 · +2.9% YoY. Source: county tax records.